Banking and Financial Awareness - Online Test
Q1. Central Bank is an
Answer : Option C
Explaination / Solution:
It is the highest banking authority in an economy. Therefore, it is also known as apex body in banking sector.
Q2. Recently IDRBT, an arm of the Reserve Bank of India, is going to launch a model platform for blockchain technology. Here IDRBT stands for-
Answer : Option C
Explaination / Solution:
The Institute for Development and Research in Banking Technology (IDRBT), an arm of the Reserve Bank of India, is going to launch a model platform for blockchain technology.
Q3. Money is a medium of
Answer : Option D
Explaination / Solution:
Money is universally accepted as a medium of exchange. It can be used to buy anything worldwide.
Q4. The Insurance Regulatory Development Authority of India (IRDAI) is examining the possibility of allowing PE firms to buy stake in insurance companies. Here PE stands for?
Answer : Option A
Explaination / Solution:
The Insurance Regulatory Development Authority of India (IRDAI) is examining the possibility of allowing private equity (PE) firms to buy stake in insurance companies. Private equity is capital that is not noted on a public exchange. Private equity is composed of funds and investors that directly invest in private companies, or that engage in buyouts of public companies, resulting in the delisting of public equity.
Q5. The functions of money is that it is a
Answer : Option D
Explaination / Solution:
No Explaination.
Q6. Which of the following type of unemployment happens at the time of switching of the job?
Answer : Option A
Explaination / Solution:
It’s the frictional type of unemployment which happens when an individual changes from one job to another. Therefore to avoid this, individual resign from their current job only after getting employment elsewhere.
Q7. Money over comes the problems of barter system. It is
Answer : Option A
Explaination / Solution:
No Explaination.
Q8. Which of the following is not allowed to trade in over-night borrowing market?
A. Scheduled commercial banks
B. Regional rural bank
C. Cooperative banks
D. Primary dealers
A. Scheduled commercial banks
B. Regional rural bank
C. Cooperative banks
D. Primary dealers
Answer : Option B
Explaination / Solution:
Overnight borrowing market, also known as call market, generally involves borrowing and lending of funds for one day, and generally takes place against government securities. Although in such market, maximum period of borrowing is that for 14 days.
Q9. One of the measures of money supply is
Answer : Option D
Explaination / Solution:
No Explaination.
Q10. P2P lending is regulated by-
Answer : Option B
Explaination / Solution:
All peer-to-peer lending (P2P) platforms will be regulated by the Reserve Bank of India (RBI). The government stated that all the P2P loan platforms will be treated as non-banking financial companies (NBFCs) and will be brought under the ambit of the banking regulator.
