Top 350+ Solved Banking and Insurance MCQ Questions Answer
Q. Currency notes of Rupee 1 and its subsidiary coins are issued by the
a. Reserve Bank of India
b. State Bank of India
c. Ministry of Finance, Government of India
d. Securities and Exchange Board of India
Q. Extending credit facilities to farmer and small-scale industrial units is the main purpose of
a. Development banks
b. EXIM bank
c. Cooperative bank
d. Commercial bank
Q. In order to inject money into the economy, RBI
a. Raises CRR
b. Lowers CRR
c. Raises SLR
d. Sells in the open market
Q. Cooperative banks has three-tier structure, at the top, there is
a. Primary Credit Society
b. Central Cooperative Bank
c. State Cooperative Bank
d. None of the above
Q. A cheque dated subsequent to the date of its issue is
a. Post dated cheque
b. Blank cheque
c. Crossed cheque
d. Account payee cheque
Q. Which banks which accept deposits from the public and lend them mainly to commerce for short periods?
a. Commercial Bank
b. Industrial Bank
c. Agricultural Bank
d. Central Bank
Q. The person or company who bears the risk of providing money at the end of a period of time or losses due to accident are known as
a. insurer
b. insured
c. insurance
d. none of the above
Q. The person or company which gets compensation at the end of the period of time forloss due to accident is called
a. insurer
b. insured
c. insurance
d. none of the above
Q. Which of the following is not an importance or necessity of Insurance?
a. Reduction of risk
b. Supply of capital
c. Employment opportunity
d. Increase of business expenses
Q. Objective Risk is defined as the relative variation of
a. Actual loss from expected loss
b. Expected loss from actual loss
c. Expected profit from actual loss
d. Actual loss from expected profit
Q. Which of the following are the types of Risks
a. Financial and non financial risk
b. Static and dynamic risk
c. Pure and Speculative Risk
d. All of the above
Q. The principle functions of an insurance contract are
a. To define the risk that is to be transferred
b. To state the conditions under which the contract applies
c. To explain the procedure for settling losses
d. All of the Above
Q. Insurance principle does not include
a. Principle of indemnity
b. Principle of utmost good faith
c. Principle of knowledge
d. Principle of insurable interest