Description : Local currency account maintained by a local bank for a foreign (correspondent) bank is termed as _________ A. Nostro Account B. Vostro Account C. LORO Account D. Mirror Account E. None of the Above
Last Answer : B. Vostro Account Explanation: Local currency account maintained by a local bank for a foreign (correspondent) bank is termed as Vostro Account.
Description : ____is a Current Account Maintained by one Domestic Bank on behalf of other domestic bank in foreign bank in foreign currency A. BSBDA B. CA C. LORO Account D. Mirror Account E. None of the Above
Last Answer : C. LORO Account Explanation: LORO Account is a Current Account Maintained by one Domestic Bank on behalf of other domestic bank in foreign bank in foreign currency.
Description : _________ is an account maintained in foreign currency with an Authorised Dealer Bank. A. Exchange Earners Foreign Currency Account B. Exchange Eligible Foreign Currency Account C. Earners ... Account D. Earners Exchange Foreign Currency Account E. Equity Exchange Foreign Currency Account
Last Answer : A. Exchange Earners‟Foreign Currency Account Explanation: Exchange Earners‘ Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer Bank (Category – I Bank) in foreign exchange.
Description : What are the other deposit accounts can be opened by an individual in where one holds „Basic Savings Bank Deposit Account‟? A. Fixed Deposit B. Recurring Deposit C. Another BSBDA D. Both A and B E. None of the Above
Last Answer : D. Both A and B Explanation: One can have Term/Fixed Deposit, Recurring Deposit etc., accounts in the bank where one holds ‗Basic Savings Bank Deposit Account.
Description : By which rate is the domestic current rate of currency converted into foreign currency? A. Bank Rate B. CRR C. Stock Exchange Rate D. Repo Rate E. Exchange Rate
Last Answer : E. Exchange Rate Explanation: An exchange rate aka a (foreign-exchange rate, forex rate, FX rate or Agio) between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country‘s currency in terms of another currency.
Description : Where do I buy a longlasting battery for my Dell Vostro 1000?
Last Answer : There are many places to buy laptop batteries. For warranty purposes you may choose to buy from the computer manufacturer directly, i.e., Dell, or you may search an online clearinghouse such as Amazon. Be sure to check site reviews and buy from a secure, reputable vendor, in any event.
Description : What is Foreign Currency Account ?
Last Answer : The foreign currency account is the deposit of foreign currency by the native citizens residing abroad. These accounts are conducted in foreign currency.
Description : Which of the following holds majority stake in CIBIL? A. Bank of India B. Bank of Baroda C. United Bank of India D. TransUnion International E. ICICI Bank Ltd
Last Answer : D. TransUnion International Explanation: TransUnion International Inc (66.1%) ICICI Bank Ltd (6)% Bank of Baroda (5)% Bank of India (5)% Union Bank of India (5)% Indian Overseas Bank (5) ... Company Private Ltd. (4)% India Alternatives Private Equity Fund (2.9%) India Infoline Finance Limited (1%)
Description : Which of the following holds minority stake in CIBIL? A. Bank of India B. TransUnion International C. Aditya Birla Trustee Company Private Ltd D. ICICI Bank Ltd E. India Infoline Finance Limited
Last Answer : E. India Infoline Finance Limited Explanation: India Infoline Finance Limited – 1%
Description : Which of the following holds 4% stake in CIBIL? A. Bank of India B. TransUnion International C. Aditya Birla Trustee Company Private Ltd D. ICICI Bank Ltd E. India Infoline Finance Limited
Last Answer : C. Aditya Birla Trustee Company Private Ltd Explanation: Aditya Birla Trustee Company Private Ltd – 4%
Description : Bank money refers to - (1) currency notes (2) coins (3) gold bullions (4) cheques
Last Answer : (4) cheques Explanation: There are two types of money in a fractional-reserve banking system, currency originally issued by the central bank, and hank deposits at commercial banks: (1) ... created in the banking system through borrowing and lending) - sometimes referred to as chequebook money.
Description : Bank money refers to (1) currency notes (2) coins (3) gold bullions (4) cheques
Last Answer : cheques
Description : Deposits under Foreign Currency Non-Resident(FCNR) scheme can be accepted for a minimum of________ A. Six months B. Three months C. One year D. 15 days E. None of the Above
Last Answer : C. One year Explanation: The deposits should be accepted under the Foreign Currency Non-Resident(FCNR) Scheme for the following maturity periods: One year and above but less than two years Two years ... above but less than four years Four years and above but less than five years Five years only
Description : What is the full form of FCCB? A. Foreign Currency convertible Bond B. Foreign Currency credit Bond C. Financial Consortium and Credit Bureau D. Future Credit and Currency Bureau E. None of the Above
Last Answer : A. Foreign Currency convertible Bond Explanation: Foreign currency convertible bonds (FCCBs) are a special category of bonds. FCCBs are issued in currencies different from the issuing company‘s domestic currency. A convertible bond is a mix between a debt and equity instrument.
Description : Deposits under Foreign Currency Non-Resident(FCNR) scheme can be accepted for a minimum of _______ A. 15 days B. 3 months C. 6 months D. 1 year E. 7 days
Last Answer : D. 1 year Explanation: Term Deposit with maturity of minimum 1 year & maximum 5 years can be opened under Foreign Currency Non-Resident(FCNR) scheme.
Description : In International Banking terms,”Appreciation” of Rupee means ________ A. Excess of exports over imports B. Purchasing power of rupee has come down C. Availability of less foreign currency vis-a-vis rupee D. Excess of imports over exports E. Availability of more foreign currency vis-a-vis rupee
Last Answer : C. Availability of less foreign currency vis-a-vis rupee Explanation: Currency Appreciation refers to increase in the value of domestic currency in terms of foreign currency. The domestic currency becomes more valuable and less of it is required to buy the foreign currency.
Description : A foreign currency denominated bond issued by foreign company in Singapore is known as ______ A. Yankee bond B. Bulldog bond C. Uridashi bond D. Husao bond E. Lion City bond
Last Answer : E. Lion City bond Explanation: Lion City bond foreign currency denominated bond issued by foreign company in Singapore.
Description : How much money can be transferred from foreign account to a US bank account?
Last Answer : You can transfer any amount you like from one account to theother - you're only limited to physically carrying cash throughcustoms. It's the same in most countries - electronic transferscreate a ' ... its source.Carrying large amounts of cash without proof of its origin - willget you interrogated !
Description : Reserve Bank of India has made it mandatory on the banks to discontinue the practice of stapling the currency note packets under _______ of the Banking Regulation Act, 1949 A. Section 35A B. Section 25A C. Section 15A D. Section 30A E. None of the Above
Last Answer : A. Section 35A Explanation: The Reserve Bank of India has made it mandatory on the banks to discontinue the practice of stapling the currency note packets. It has issued a directive to banks under Section 35A of the Banking Regulation Act, 1949.
Description : Paper Money issued on the credit of a bank or government is called ______ A. Commodity Money B. Representative Money C. Fiat Money D. Fiduciary currency E. None of the Above
Last Answer : D. Fiduciary currency Explanation: Fiduciary Money that depends for its value on confidence that it is an accepted medium of exchange. It originated as a paper certificate that was a promise to pay a certain amount of gold or silver to the bearer.
Description : Advisor to the Prime Minister on Foreign Affairs, Sartaj Aziz holds a Masters degree in Development Economics from: A. Cambridge University B. Harvard University C. Columbia University D. Karachi University
Last Answer : ANSWER: B
Description : Advisor to the Prime Minister on Foreign Affairs, Sartaj Aziz holds a Masters degree in Development Economics from: A. Cambridge University B. Harvard University 88 C. Columbia University D. Karachi University
Description : Harvard University Advisor to the Prime Minister on Foreign Affairs, Sartaj Aziz holds a Masters degree in Development Economics from: A. Cambridge University B. Harvard University C. Columbia University D. Karachi University
Description : Which of the following percentage of foreign exchange earnings can be credited to the EEFC account? A. 80% B. 90% C. 75% D. 95% E. 100%
Last Answer : E. 100% Explanation: under EEFC account, a facility provided to the foreign exchange earners, including exporters, to credit 100 per cent of their foreign exchange earnings to the account. ... have to convert foreign exchange into Rupees and vice versa, thereby minimizing the transaction costs.
Description : Cabinet Committee on Economic Affairs (CCEA) cleared the proposal of Axis Bank for increasing foreign shareholding limit from existing 62 per cent to ____ per cent. A) 70% B) 84% C) 74% D) 65% E) None of these
Last Answer : C) 74% Explanation: Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister Narendra Modi cleared the proposal of Axis Bank for increasing foreign shareholding limit from existing 62 per cent to 74 per cent.
Description : To become BBPOUs, Banks and non-bank entities are mandatorily required to apply for approval / authorisation to Reserve Bank of India under ________ A. Payment and Settlement Systems (PSS) Act 2007. B. Foreign ... Act, 1999 C. Banking Regulation Act, 1949 D. SARFAESI Act, 2002 E. None of the Above
Last Answer : A. Payment and Settlement Systems (PSS) Act 2007. Explanation: To become BBPOUs, Banks and non-bank entities are mandatorily required to apply for approval / authorisation to Reserve Bank of ... PSS) Act 2007. Bharat Bill Payment Operating Units (BBPOUs) will be the authorised operational units.
Description : Cash kept in the currency chest is owned by? A. Currency Chest branch bank B. State Bank of India C. Central Government D. Reserve Bank of India
Last Answer : D. Reserve Bank of India Explanation: The amount of cash kept in the currency chest belongs to the RBI and is used for maintaining the Cash Reserve Ratio. To facilitate the distribution of ... These are actually storehouses where banknotes and rupee coins are stocked on behalf of the Reserve Bank.
Description : What is the full form of FATCA? A. Forex Account Tax Compliance Act B. Foreign Account Tax Compliance Act C. Forex Account Total Compliance Act D. Foreign Account Total Compliance Act
Last Answer : B. Foreign Account Tax Compliance Act Explanation: The Foreign Account Tax Compliance Act (FATCA) is a 2010 United States federal law to enforce the requirement for United States persons including ... on their non-U.S. financial accounts to the Financial Crimes Enforcement Network (FINCEN).
Description : Which term refers closure of the loan account prior to the tenure fixed for the account? A. Pre Approved B. Pre Closure C. Personal Disposable D. None of the Above
Last Answer : B. Pre Closure Explanation: Prepayment or pre-closure of a loan implies to the early repayment of a loan, in part or in full. Prepayment is done to reduce the tenure of the loan as well as the interest.
Description : Foreign exchange risk can be reduced by using _____. A. forward contracts B. futures contracts C. currency options D. currency denomination E. all of the above
Last Answer : E. all of the above
Description : Which of the following will impair the independence of a CPA in public practice? a. He has his name and address listed on a one-page section of the telephone book. b. He obtained a loan from a bank ... one share of the client's capital stock. d. He failed to disclose a client's departure from GAAP.
Last Answer : He holds one share of the client's capital stock.
Description : An EEFC account can be held only in the form of ________ A. Savings Bank Account B. Deposit Account C. Current Account D. Both (B) and (C) E. None of the Above
Last Answer : C. Current Account Explanation: An EEFC account can be held only in the form of a current account. No interest is payable on EEFC accounts.
Description : An EEFC account can be held only in the form of a ________ A. Current Account B. Savings Bank Account C. loan Account D. All of the Above E. None of the Above
Last Answer : A. Current Account Explanation: An EEFC(Exchange Earners‘ Foreign Currency Account) account can be held only in the form of a current account. No interest is payable on EEFC accounts.
Description : How many Basic Savings Bank Deposit Account(BSBDA) can be opened by an individual? A. One B. Two C. Three D. Four E. None of the Above
Last Answer : A. One Explanation: An individual is eligible to have only one ‗Basic Savings Bank Deposit Account‘ in one bank.
Description : ________ is a temporary pass through account held by a third party during the process of a transaction between two parties. A. Savings Bank Account B. Current Account C. Deposit Account D. Escrow Account E. None of the Above
Last Answer : D. Escrow Account Explanation: Escrow Account: Account in which funds are accumulated for specific disbursements. It is a temporary pass through account held by a third party during the process of a transaction between two parties.
Description : UPI will eliminate the need of entering ________ details A. Bank Account Number B. IFSC Code C. CVV code D. All of the Above E. None of the Above.
Last Answer : D. All of the Above Explanation: UPI can be used for shopping at the supermarket, or online shopping as well. It will eliminate the need of entering card details such as number, expiry date, CVV code and OTP.
Description : Unified Payment System (UPI), a common platform which links your _________ to a virtual payment address, effectively making money transfer as easy as an SMS. A. Bank Account Number B. IFSC Code C. Virtual Address D. All of the Above E. None of the Above.
Last Answer : A. Bank Account Number Explanation: Unified Payment System (UPI), a common platform which links your bank account number to a virtual payment address, effectively making money transfer as easy as an SMS.
Description : In UPI, we can Send money to any bank account through mobile without entering ____________ A. debit/credit card details B. net banking/wallet password C. receiver‘s account number. D. All of the Above E. None of the Above.
Last Answer : D. All of the Above Explanation: Send money up to Rs 1 lakh to any bank account through the mobile without entering debit/credit card details, net banking/wallet password or even knowing the receiver‘s account number.
Description : Customers using the UPI system only share _____ A. Bank Account Number B. IFSC Code C. Virtual Address D. All of the Above E. None of the Above.
Last Answer : C. Virtual Address Explanation: Customers using the system do not have to disclose any sensitive information such as bank account numbers or IFSC codes during a financial transaction. It is safe as the customers only share a virtual address and provide no other sensitive information.
Description : _________ service helps user in knowing their Aadhaar Seeding status with their bank account. A. WAP B. QSAM C. NUUP D. Both (A) and (B) E. Both (B) and (C)
Last Answer : B. QSAM Explanation: QSAM (Query Service on Aadhaar Mapper) – This service helps user in knowing their Aadhaar Seeding status with their bank account
Description : Which among the following is correct about "Hacking": a) Hacking is an illegal intrusion into a computer system and/or network. b) Cracking term is equivalent to Hacking (In Indian Laws perspective there is ... their own account followed by withdrawal of money. e) All of the Above f) None of These
Last Answer : e) All of the Above
Description : What's a good place in the USA to trade foreign currency at the face exchange rate?
Last Answer : You’ll probably do best at your own bank if they do exchanges.
Description : What is the most cost effective way to exchange foreign currency?
Last Answer : Counterintuitively, it is often credit card companies which offer the fairest exchange rates, but too late! You already chose cash. Try Bank Leumi. They have an international reputation for fair exchange, and you don’t have to get sheckles :)
Description : What do you do with foreign coinage that gets mixed in with your country's currency?
Last Answer : Currency is whatever we define it to be. It's only invalid if one party attempts to use something other than what both parties have agreed to. If the shopkeeper accepts a pint of goat's blood I ... to it, then it's my responsibility to provide currency that he does accept, or else void the sale.
Description : What is the best month of the year to exchange U.S. Dollars for foreign currency?
Last Answer : ad would know this one he works with the currency every week day but i cant answer this one sorry
Description : A person returning from abroad can retain foreign currency up to what period? -Do You Know?
Last Answer : answer: