Description : What are the different modes of paying stamp duty in e-Stamping system? A. RTGS B. NEFT C. Pay order D. All of the Above E. None of the Above
Last Answer : D. All of the Above Explanation: Client can pay stamp duty amount through the following modes Cash Cheque Demand Draft Pay Order RTGS NEFT Account to Account transfer.
Description : A document issued by Bank for local payments a. NEFT b. RTGS c. EFT d. Banker’s Cheque/Pay Order
Last Answer : d. Banker’s Cheque/Pay Order
Description : A worldwide financial messaging network which exchanges messages between banks and financial institutions is known as _________ A. SWIFT B. Basel C. RTGS D. NEFT
Last Answer : A. SWIFT Explanation: Society for Worldwide Inter bank Financial Telecommunication code. An internationallyrecognized identification code for banks around the world. SWIFT codes are most commonly used for international wire transfers and are comprised of 8 or 11 alphanumeric characters.
Description : In which of the following fund transfer mechanisms, can funds be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction? A. RTGS B. NEFT C. TT D. EFT
Last Answer : A. RTGS Explanation: In RTGS, the beneficiary branches are expected to receive the funds in real time as soon as funds are transferred by the remitting bank. The beneficiary bank has to credit the beneficiary‘s account within 30 minutes of receiving the funds transfer message.
Description : An ECS transaction gets bounced and you are unable to recover your money from your customer. Under which Act criminal action can be initiated? A. Negotiable Instrument Act 1881 B. Criminal Procedure Code C. Payment and Settlement Systems Act 2007 D. Indian Companies Act 1956
Last Answer : C. Payment and Settlement Systems Act 2007 Explanation: Under the Section 25 of Payment and Settlement Systems (PSS) Act, 2007, dishonour of an electronic fund transfer instruction due to insufficiency ... fine or both, similar to the dishonour of a cheque under the Negotiable Instruments Act 1881.
Description : Which of the following is not e-banking software? A. ECS B. RTGS C. PIPS D. IBR
Last Answer : C. PIPS Explanation: ECS – Electronic Clearing Service RTGS – Real Time Gross Settlement PIPS is not an e-banking software.
Description : Which of the following is not a measure of the Risk Management in Banks? A. CRR B. RTGS C. SLR D. Deposit Insurance
Last Answer : B. RTGS Explanation: Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with the RBI. Statutory liquidity ratio (SLR) is the Indian government term for ... is mandatory, and pays claims from a pool of funds to which every depository institution regularly contributes.
Description : In NEFT What is the charge for transactions above Rs 1 lakh and upto Rs.2 lakh? A. not exceeding Rs 2.50 (+ Service Tax) B. not exceeding Rs 5 (+ Service Tax) C. not exceeding Rs 15 (+ Service Tax) D. None of the Above
Last Answer : C. not exceeding Rs 15 (+ Service Tax) Explanation: Outward transactions at originating bank branches – charges applicable for the remitter For transactions above Rs 1 lakh and up to Rs 2 lakhs: not exceeding Rs 15 (+ Service Tax)
Description : In NEFT, What is the charge for transactions above Rs 10,000 upto Rs.1 lakh? A. not exceeding Rs 2.50 (+ Service Tax) B. not exceeding Rs 5 (+ Service Tax) C. not exceeding Rs 15 (+ Service Tax) D. None of the Above
Last Answer : B. not exceeding Rs 5 (+ Service Tax) Explanation: Outward transactions at originating bank branches – charges applicable for the remitter For transactions above Rs 10,000 up to Rs 1 lakh: not exceeding Rs 5 (+ Service Tax)
Description : In NEFT What is the charge for transactions up to Rs 10,000? A. not exceeding Rs 2.50 (+ Service Tax) B. not exceeding Rs 5 (+ Service Tax) C. not exceeding Rs 15 (+ Service Tax) D. None of the Above
Last Answer : A. not exceeding Rs 2.50 (+ Service Tax) Explanation: Outward transactions at originating bank branches – charges applicable for the remitter For transactions up to Rs 10,000 : not exceeding Rs 2.50 (+ Service Tax)
Description : NEFT operates in hourly batches and there are _______ settlements from 8 am to 7 pm on week days. A. 3 B. 6 C. 8 D. 12
Last Answer : D. 12 Explanation: NEFT operates in hourly batches – there are twelve settlements from 8 am to 7 pm on week days (Monday through Friday) and six settlements from 8 am to 1 pm on Saturdays.
Description : The beneficiary can expect to get credit for the NEFT transactions within ______business hours. A. 2 B. 3 C. 1 D. None of the Above
Last Answer : A. 2 Explanation: The beneficiary can expect to get credit for the NEFT transactions within two business hours (currently NEFT business hours is from morning 8 AM to evening 7 PM on all week days ... morning 8 AM to afternoon 1 PM on Saturdays) from the batch in which the transaction was settled.
Description : What is the charge of Inward transactions at destination bank branches in NEFT? A. Rs.1 B. Rs.1.50 C. Rs.2 D. No Charge
Last Answer : D. No Charge Explanation: Inward transactions – Free, no charge to be levied.
Description : The NEFT system facilitates ____cross-border transfer of funds from India to Nepal which is known as the Indo-Nepal Remittance Facility Scheme. A. One Way B. Two Way C. Multi way D. None of the Above
Last Answer : A. One Way Explanation: The NEFT system also facilitates one-way cross-border transfer of funds from India to Nepal. This is known as the Indo-Nepal Remittance Facility Scheme. A remitter can ... account with a bank branch in Nepal or not. The beneficiary would receive funds in Nepalese Rupees.
Description : In National Electronic Funds Transfer (NEFT) maximum amount per transaction is limited to ________ A. Rs.75000 B. Rs.50000 C. Rs.80000 D. Rs.90000
Last Answer : B. Rs.50000 Explanation: No. There is no limit - either minimum or maximum - on the amount of funds that could be transferred using NEFT. However, maximum amount per transaction is ... -based remittances within India and also for remittances to Nepal under the Indo-Nepal Remittance Facility Scheme.
Description : NEFT is an electronic fund transfer system that operates on a _________ basis which settles transactions in batches. A. Domain Net Settlement (DNS) B. Defined Net Settlement (DNS) C. Declared Net Settlement (DNS) D. Deferred Net Settlement (DNS)
Last Answer : D. Deferred Net Settlement (DNS) Explanation: NEFT is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches. In DNS, the ... till the particular cut-off time. These transactions are netted (payable and receivables) in NEFT.
Description : How are RTGs different from the batteries you buy at a store?
Last Answer : They have different atoms
Description : Expand RTGS ? 1. Real Time Gross Settlement 2. Real Time Group Selling 3. Retailers Trade Group Selling 4. Reliance Technology Group Sellers 5. None of these
Last Answer : Real Time Gross Settlement
Description : Interrupts which are initiated by an I/O drive are ___________ A. internal B. external C. Both (A) and (B) D. All of the above
Last Answer : B. external
Description : The __________ model originally did not require a cloud to use virtualization to pool resources. a) NEFT b) NIST c) NIT d) All of the mentioned
Last Answer : NIST
Description : Which model originally did not require a cloud to use virtualization to pool resources a) NEFT b) NIST c) NIT d) All of the mentioned
Last Answer : All of the mentioned
Description : The term receiving accountant includes the following, except; a. A professional accountant in public practice to whom existing accountant has referred tax engagement. b. A professional accountant ... or carrying out accounting, taxation, consulting or similar professional services for a client.
Last Answer : A professional accountant in public practice currently holding an audit appointment or carrying out accounting, taxation, consulting or similar professional services for a client.
Description : What is the proper organizational role of internal auditing? a. To serve as an independent, objective assurance and consulting activity that adds value to operations. b. To assist the external auditor in ... . d. To serve as the investigative arm of the audit committee of the board of directors
Last Answer : To serve as an independent, objective assurance and consulting activity that adds value to operations.
Description : Assurance services differ from consulting services in that they I. Focus on providing advice. II. Involve monitoring of one party by another. a. I only. b. II only. c. Both I and II. d. Neither I nor II.
Last Answer : II only.
Description : Payment for purchase of a certificate may be made by a) Cash or cheque b) Pay order or DD c) Matured Certificate/SB Wdl d) All the above
Last Answer : d) All the above
Description : What is PayPal ? a. Pay through Pal b. NetBanking c. Payment Gateway d. Information app
Last Answer : c. Payment Gateway
Description : Interrupts that are initiated by an instruction are_______ A. internal B. external C. hardware D. software
Last Answer : D. software
Description : Java Programming Language was originally developed by Sun Micro-systems which was initiated by _______: a) James Gosling b) Charles Babbage c) Steford Pascal d) None of These
Last Answer : a) James Gosling
Description : No confidence Motion against the Union Council of Ministers can be initiated– (1) in the Rajya Sabha only (2) in the Lok Sabha only (3) both in the Lok Sabha and the Rajya Sabha (4) in the State Assemblies
Last Answer : (2) in the Lok Sabha only Explanation: Motions of no confidence against the government can only be introduced and passed in the Lok Sabha. If passed by a majority vote, the Prime Minister and the ... The Rajya Sabha has no power over such a motion, and hence no real power over the executive.
Description : ________ have been awarded the license by the Central Bank to operate Bharat Bill Payment System (BBPS) recently. A. Common Service Centres (CSC) B. Financial Institutions C. Only (A) D. Both (A) and (B) E. None of the Above
Last Answer : A. Common Service Centres (CSC) Explanation: over 1.5 Lakh common service centres (CSC) or Digital Seva Kendres have been awarded the license by the Central Bank to operate Bharat Bill Payment System (BBPS).
Description : Own label brands are initiated and owned by A)manufacturers only. B)manufacturers and retailers. C)wholesalers only. D)manufacturers and wholesalers. E)wholesalers or retailers.
Last Answer : E)wholesalers or retailers.
Description : To be independent, the auditor: a. Must be impartial when dealing with the client. b. Cannot place any reliance on the client's verbal and written assertions. c. Is responsible only to third-party users of the financial statements. d. Cannot perform any consulting servicesfor an audit client.
Last Answer : Must be impartial when dealing with the client
Description : Based on the work by the Boston Consulting Group, products with a dominant share of the market and good prospects for growth are A)dogs. B)cash cows. C)stars. D)problem children. E)pigs.
Last Answer : C)stars.
Description : The Boston Consulting Group classifies products that have a dominant market share but low prospects for growth and that generate more cash than is required to maintain market share as A)dogs. B)cash cows. C)stars. D)cash contributors. E)problem children.
Last Answer : B)cash cows.
Description : Which of the following services is not unique, i.e., customized to a particular individual's needs? (a) hairdressing ; (b) elementary education ; (c) legal services ; (d) computer consulting
Last Answer : (b) elementary education ;
Description : In case of an offence punished with fine only, an offender who is sentenced to pay a fine exceeding Rs. 100, the imprisonment in default of payment of fine shall not exceed (a) Two months (b) Three months (c) Four months (d) Six months
Last Answer : (d) Six months.
Description : In case of an offence punished with fine only, an offender who is sentenced to pay a fine of not exceeding Rs. 100 but exceeding Rs. 50, the imprisonment in default of payment of fine shall not exceed (a) Two months (b) Three months (c) Four months (d) Six months.
Last Answer : (c) Four months
Description : In case of an offence punished with fine only, an offender who is sentenced to pay a fine of not exceeding Rs. 50, the imprisonment in default of payment of fine shall not exceed (a) Two months (b) Three months (c) Four months (d) Six months.
Last Answer : (a) Two months
Description : ...............................is a type of online advertising where you only pay when somebody clicks on company ads. a) Pay per click b) Use per visit c) Give per login d) Payment per access
Last Answer : a) Pay per click
Description : The bill of which of the following categories can be initiated only in Lok Sabha? (1) Ordinary Bill (2) Private members Bill (3) Money Bill (4) Constitution Amendment Bill
Last Answer : (3) Money Bill Explanation: Money Bill - Lok sabha
Description : Bills of which of the following categories can be initiated only in Lok Sabha? (1) Ordinary Bill (2) Private Members Bill (3) Money Bill (4) Constitution Amendment Bill
Last Answer : (3) Money Bill Explanation: A Money Bill can be introduced in Lok Sabha only If any question arises whether a Bill is a Money Bill or not, the decision of Speaker thereon is final. The Speaker ... when it is transmitted to Rajya Sabha and also when it is presented to the President for his assent.
Description : In the case of inland money order paid certificate of payment is issued by the postmaster of office of payment in the case of a) Loss of MO after payment b) If the MO acknowledgment is lost in transit and the remitter applies for it c) Both the above d) None of these
Last Answer : b) If the MO acknowledgment is lost in transit and the remitter applies for it
Description : When an IPO is lost after payment. a) An application should be made through the Supdt. of post office to the Head of the circle asking for permission to issue a certificate of payment b) The application ... number and the denomination of the missing order c) Both the A and B d) None of these
Last Answer : c) Both the A and B
Description : Assertion `(A) :` Hydrogen bomb is more powerful than atomic bomb. Reason `(R) :` In hydrogen bomb, fusion reaction is initiated. a)If both `(A)` and
Last Answer : Assertion `(A) :` Hydrogen bomb is more powerful than atomic bomb. Reason `(R) :` In hydrogen bomb, fusion ... D. If both (A) and (R ) are incorrect.
Description : The impeachment of the President of India can be initiated in - (1) either house of the Parliament (2) a joint siting of both houses of the Parliament (3) the Lok Sabha alone (4) the Rajya Sabha alone
Last Answer : (1) either house of the Parliament Explanation: Under Article 61, the President of India can be removed from the office by a process of impeachment for the violation of the Constitution. The impeachment is to be initiated by either House of Parliament.
Description : Assertion (A). Industrial policy 1991 initiated liberalisation of Indian economy. Reason (R). Industrial growth was very slow before 1991. A. Both (A) and (R) are true and (R) is the correct explanation of (A). B. Both (A) ... A). C. (A) is true but (R) is false. D. (A) is false but (R) is true.
Last Answer : A. Both (A) and (R) are true and (R) is the correct explanation of (A). B. Both
Description : SHCIL will accept Stamp Duty Payment in ______ only A. US$ B. Euro C. INR D. None of the Above E. All of the Above
Last Answer : C. INR Explanation: SHCIL will accept Stamp Duty Payment in Indian Rupees (INR) only.
Description : When there is a difference between all receipts and expenditure of the Government of India both capital and revenue it is called __________ A. Revenue Deficit B. Budgetary Deficit C. Zero Budgeting D. Trade Gap E. Balance of Payment Problem
Last Answer : B. Budgetary Deficit Explanation: Budgetary deficit is the difference between all receipts and expenses in both revenue and capital account of the government.If revenue expenses of the government ... leads to capital account deficit. Budgetary deficit is usually expressed as a percentage of GDP.
Description : According to _________, Any person can also search and inspect the records maintained by the Registry on payment of fees. A. Securitisation and Reconstruction of Financial Assets and Enforcement of ... Assets and Enforcement of Security Interest (Central Registry) Rules, 2011 E. None of these
Last Answer : D. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011 Explanation: Any person can also search and inspect the records maintained by the ... are planning to purchase, is free of any loan/security interest created by a lender.
Description : If the endorsement makes the payment of a bill subject to the fulfilment of a condition the endorsement is called _______ A. Restrictive Endorsement B. Partial Endorsement C. Conditional Endorsement D. Facultative Endorsement E. Both (A) and (B)
Last Answer : C. Conditional Endorsement Explanation: If the endorsement makes the payment of a bill subject to the fulfilment of a condition the endorsement is called Conditional Endorsement.