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Medium Free Competitive Exams Banking

Banking General Awareness Quiz

Banking General Awareness practice quiz covering Static GK, Important Institutions, Awards, Books, National Facts and International Facts for banking competitive examinations.

48 Questions
No limit Duration
40% To pass
1.00 Marks / correct

Instructions

  • This quiz has 48 questions.
  • There is no time limit on this quiz.
  • You need 40% to pass.
  • There is no negative marking.
  • You can mark questions for review and return to them before submitting.
  • Correct answers and explanations are shown after you submit.

Sample Questions & Answers

A preview of 12 questions from this quiz, each with the correct answer and a written explanation. Attempt the full, timed quiz to be scored and earn XP.

  1. Question 1

    Which term refers to a bank's acceptance of money from customers for safekeeping and use, with an obligation to repay it according to the account terms?

    • Deposit Correct answer
    • Mortgage
    • Dividend
    • Collateral
    Explanation: A deposit is money placed with a bank by a customer, subject to the terms of the deposit account.
  2. Question 2

    Which instrument is primarily used to transfer funds from one bank account to another electronically through a payment instruction?

    • Electronic funds transfer Correct answer
    • Promissory note
    • Share certificate
    • Warehouse receipt
    Explanation: An electronic funds transfer moves money electronically between bank accounts.
  3. Question 3

    What is the full form of KYC in banking?

    • Know Your Customer Correct answer
    • Keep Your Cash
    • Know Your Credit
    • Key Yield Certificate
    Explanation: KYC stands for Know Your Customer and refers to customer identification and verification procedures.
  4. Question 4

    Which account is generally designed for frequent business transactions and does not ordinarily pay interest like a savings account?

    • Current account Correct answer
    • Recurring deposit account
    • Fixed deposit account
    • Loan account
    Explanation: A current account is generally used for frequent transactions, especially by businesses, and ordinarily does not pay interest.
  5. Question 5

    What is the banking term for the portion of a loan that remains unpaid at a given point in time?

    • Outstanding balance Correct answer
    • Face value
    • Premium
    • Turnover
    Explanation: The outstanding balance is the amount of a loan that remains due at a particular time.
  6. Question 6

    Which document records the transactions made in a bank account over a specified period?

    • Bank statement Correct answer
    • Share prospectus
    • Insurance policy
    • Balance sheet of a company
    Explanation: A bank statement lists account transactions over a specified period.
  7. Question 7

    What is a bank's 'liquidity' most directly concerned with?

    • Ability to meet payment obligations when due Correct answer
    • Ability to earn the highest profit
    • Number of branches operated
    • Value of its fixed assets
    Explanation: Liquidity concerns the ability to meet financial obligations as they become due.
  8. Question 8

    Which term describes property or an asset pledged by a borrower to secure a loan?

    • Collateral Correct answer
    • Dividend
    • Premium
    • Commission
    Explanation: Collateral is an asset pledged to secure repayment of a loan.
  9. Question 9

    Which banking instrument is a written unconditional order directing a bank to pay a specified amount to a named person or bearer?

    • Cheque Correct answer
    • Passbook
    • Debit card
    • Fixed deposit receipt
    Explanation: A cheque is a written instruction to a bank to pay a specified amount from the drawer's account.
  10. Question 10

    Which institution regulates India's securities market?

    • SEBI Correct answer
    • NABARD
    • SIDBI
    • PFRDA
    Explanation: SEBI, the Securities and Exchange Board of India, is the principal regulator of India's securities market.
  11. Question 11

    NABARD is primarily associated with the development of which sectors?

    • Agriculture and rural development Correct answer
    • Urban real estate and tourism
    • Aircraft manufacturing and shipping
    • Telecommunications and media
    Explanation: NABARD is a specialized development bank focused on agriculture and rural development.
  12. Question 12

    Which institution is specifically focused on promoting and developing micro, small and medium enterprises in India through development-finance functions?

    • SIDBI Correct answer
    • NHB
    • SEBI
    • IRDAI
    Explanation: SIDBI, the Small Industries Development Bank of India, is the principal financial institution for promotion and development of the MSME sector.

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Frequently Asked Questions

This quiz has 48 questions and no time limit.

You need at least 40% to pass this quiz.

No, there is no negative marking on this quiz.

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