Top 1000+ Solved Banking Awareness MCQ Questions Answer
Q. AML Stands for
a. Anti Monitory Limit
b. Anti Money Laundering
c. Always money laundering
d. Anytime Money Laundering
e. None of the above
Q. KYC –Know Your Customer is to identify the Customer, whereas AML- Anti Money Laundering is to identify the Source of Income:
a. False
b. True
c. True only in case of small amounts
d. Not necessary in all cases
e. Any of the above
Q. If a Depositor is not a Senior Citizen and his Taxable Income is within the exempted limits then he has to submit ———to the Bank for not deducting tax at source
a. Form 15G
b. Form 15 H
c. Form 61
d. Form 60
e. None of the above
Q. In case the prospective customer whose income comes from only Agriculture sources then he has to give a declaration in Form 61.
a. True
b. False
c. He has to submit form 60
d. No such requirement
e. None of the above
Q. Nomination is available for
a. Deposit accounts
b. Safe custody articles
c. Lockers.
d. Partnership firms
e. Only A B C
Q. Nomination can be given only for:
a. Individuals
b. Joint Individuals
c. Limited Companies
d. Only A, and B
e. None of the above
Q. Finance Ministry advised RBI to allow common ATMs to be owned and managed by Non Banking Institutions. Such ATMs are called:
a. NBFC ATMs
b. Off Site ATMs
c. Third Party ATMs
d. White Label ATMs
e. None of the above
Q. An ECS transaction gets bounced and you are1862. Money deposited at a bank that cannot withdrawn for at fixed period of time is known as a :
a. Term deposit
b. Checking Account
c. Saving Bank deposit
d. No Frills Accounts
e. Current deposit
Q. The Reserve Bank of India imposed fine onwhich of the following private sector banks for violation of KYC (Know Your Customer) norms in June 2013?
a. Axis Bank
b. HDFC Bank
c. ICICI Bank
d. Both 1 and 2
e. All 1, 2 and 3
Q. Union Budget which is presented every year in the parliament is also known as
a. Annual Budget
b. Common Budget
c. General Budget
d. Finance Report of the year
e. Statement of Allocation of funds
Q. Which of the following is not the name of a bank, functioning in India ?
a. Central Bank of India
b. Aegon Religare
c. United Bank of India
d. Dena Bank
e. Citi Bank
Q. When banks accept a fixed sum of money from an individual for a definite term and pay on maturity with interest, the deposit is known as
a. demand deposit
b. term deposit
c. bond
d. mortgage
e. advance
Q. What is the full form of LAF, the term used in banking world very frequently ?
a. Legal Adjournment Formality
b. Liquid Advance & Finance
c. Liquidity Adjustment Facility
d. Late Arrival of Finance
e. Local Advance Finance
Q. Whenever somebody needs foreign currencyagainst Indian Rupee, banks give equivalent amount of desired currency based on prevalent
a. bank rate
b. currency rate
c. policy rate
d. exchange rate
e. base rate
Q. Foreign currencies are represented in various abbreviations. What is meant by USD ?
a. UAE Dinar
b. US Dollar
c. Unit of Currency of Denmark
d. Ukrainian Soviet Dollar
e. None of these