Banking and Financial Awareness - Online Test
Q1. The narrow definition of money is not based on
Answer : Option A
Explaination / Solution:
No Explaination.
Q2. Which of the following is NOT a part of India’s Money Market?
Answer : Option D
Explaination / Solution:
Indian Gold Council is NOT a part of India’s Money Market
Q3. The broad definition of money is not based on
Answer : Option C
Explaination / Solution:
No Explaination.
Q4. What is the age limit for minors to operate savings account in India?
Answer : Option B
Explaination / Solution:
Minors above the age of 10 years and who can sign uniformly. This account will be opened in the sole name of the minor.
Q5. Which role of Central Bank makes it as the controller of money supply or credit
Answer : Option A
Explaination / Solution:
No Explaination.
Q6. Under which Act is Cheque & Demand Draft is defined?
Answer : Option A
Explaination / Solution:
Cheque and Demand Draft comes under Negotiable Instruments Act, 1881. A Negotiable Instrument means a promissory note, bill of exchange, demand draft or cheque payable either to order or to bearer.
Q7. One of the various qualitative instruments used by the central bank in during inflation is
Answer : Option A
Explaination / Solution:
No Explaination.
Q8. What is the full form of LTV?
Answer : Option A
Explaination / Solution:
LTV stands for - Loan to Value
A loan to value (LTV) ratio is a number that describes the size of a loan compared to the value of the property securing the loan.
Lenders and others use the ratio to understand how risky a loan is, and it can be used for approving loans or requiring mortgage insurance. A higher LTV ratio suggests more risk because the assets behind the loan are less likely to pay off the loan as the LTV ratio increases.
Q9. One of the various qualitative instruments used by the central bank in during deflation is
Answer : Option C
Explaination / Solution:
No Explaination.
Q10. What is a ante-dated cheque?
Answer : Option E
Explaination / Solution:
Cheque written by drawer and dated at some point in past is called as the ante-dated cheque.
Example- if drawer writes a cheque on 1st February but he put the date 1st January. This type of cheque is called antedated cheque.
