“Islamic Banking” the term used for _______ A. Covering Banking to Islamic nation B. prohibition of the collection and payment of interest C. Sharing of Profit and loss D. Both (A) and (B) E. Both (B) and (C)

“Islamic Banking” the term used for _______ A. Covering Banking to Islamic nation B. prohibition of the collection and payment of interest C. Sharing of Profit and loss D. Both (A) and (B) E. Both (B) and (C)
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E. Both (B) and (C) Explanation: Two basic principles behind Islamic banking are the sharing of profit and loss and, significantly, the prohibition of the collection and payment of interest by lenders and investors. Collecting interest is not permitted under Islamic law.
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When an incoming partner purchases his share from any one of the existing partners, then– (A) total assets of the firm do not change (B) total assets of the firm will be augmented to the extent of payment received from the new partner (C) total assets of the firm will be reduced to the extent of payment received from the new partner (D) change in total assets of the firm will depend upon the new profit sharing ratio of the partners

Description : When an incoming partner purchases his share from any one of the existing partners, then- (A) total assets of the firm do not change (B) total assets of the firm will be augmented to the extent ... ) change in total assets of the firm will depend upon the new profit sharing ratio of the partners

Last Answer : Answer: total assets of the firm do not change

A collection of non-bank financial intermediaries that provide services similar to traditional commercial banks is known as _________ A. Off-shore Banking B. Investment Banking System C. Shadow Banking System D. Conventional Banking E. Merchant Banking System

Description : A collection of non-bank financial intermediaries that provide services similar to traditional commercial banks is known as _________ A. Off-shore Banking B. Investment Banking System C. Shadow Banking System D. Conventional Banking E. Merchant Banking System

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Which of the following is correct with respect to “Right against exploitation”? (a) Prohibition of traffic in human beings and forced labour (b) Freedom as to payment of taxes for the promotion of any particular religion (c) Protection of interests of minorities (d) Equality before law

Description : Which of the following is correct with respect to “Right against exploitation”? (a) Prohibition of traffic in human beings and forced labour (b) Freedom as to payment of taxes for the promotion of any particular religion (c) Protection of interests of minorities (d) Equality before law

Last Answer : (a) Prohibition of traffic in human beings and forced labour

Which of the following defines the objectives of CERSAI? A. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. B. Companies Act, 1956 C. Banking Regulation Act, 1949 D. Both (A) and (B) E. None of these

Description : Which of the following defines the objectives of CERSAI? A. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. B. Companies Act, 1956 C. Banking Regulation Act, 1949 D. Both (A) and (B) E. None of these

Last Answer : A. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Explanation: The object of the company is to maintain and operate a Registration System ... Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. (SARFAESI Act).

CERSAI was registered as a government-licensed company, under section 25 of _________ A. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. B. Companies Act, 1956 C. Banking Regulation Act, 1949 D. Both (A) and (B) E. None of these

Description : CERSAI was registered as a government-licensed company, under section 25 of _________ A. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. B. Companies Act, 1956 C. Banking Regulation Act, 1949 D. Both (A) and (B) E. None of these

Last Answer : B. Companies Act, 1956 Explanation: Central Registry of Securitisation Asset Reconstruction and Security Interest of India is a company licensed under section 25 of the Companies Act, 1956

Reserve Bank of India has granted in principle approval to the common service Centres to act as which operating unit to make bill payments in rural? A) Bharat Bill Payment B) National Bill Payment C) Non Banking Financial D) Mobile Banking Payment E) None of these

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The Aadhaar-Enabled Payment Systems(AEPS) is a bank led model that facilitates banking facilities by allowing transactions at Point of Sale through the Business Correspondent (BC) using the Aadhaar authentication number. Aadhaar enabled basic types of banking do not include A. Balance Enquiry B. Cash Withdrawal C. Online Payment D. Cash Deposit E. Aadhaar to Aadhaar funds transfer

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Last Answer : C. Online Payment Explanation: Services Offered by AEPS: Balance Enquiry Cash Withdrawal Cash Deposit Aadhaar to Aadhaar Fund Transfer Gateway Authentication Services

The Overseas Principal should obtain necessary authorisation from the Reserve Bank of India under the provisions of which Act to commence/ operate a payment system? A. Reserve Bank of India Act–1934 B. Banking Companies (Acquisition and Transfer of Undertakings) Act–1970 C. Banking Regulation (Companies) Rules, 1949 D. Payment and Settlement Systems Act (PSS Act), 2007 E. None of the Above

Description : The Overseas Principal should obtain necessary authorisation from the Reserve Bank of India under the provisions of which Act to commence/ operate a payment system? A. Reserve Bank of India Act-1934 B. Banking ... , 1949 D. Payment and Settlement Systems Act (PSS Act), 2007 E. None of the Above

Last Answer : D. Payment and Settlement Systems Act (PSS Act), 2007 Explanation: The Overseas Principal should obtain necessary authorisation from the Department of Payment and Settlement Systems, Reserve Bank of India ... Payment and Settlement Systems Act (PSS Act), 2007 to commence/ operate a payment system.

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 Exchange Management Act, 1999 C. Banking Regulation Act, 1949 D. SARFAESI Act, 2002 E. None of the Above

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Which of the following services can be offered by Payment Banks? A. Debit Cards B. Online Banking C. Mobile Banking D. All of the Above E. None of the Above

Description : Which of the following services can be offered by Payment Banks? A. Debit Cards B. Online Banking C. Mobile Banking D. All of the Above E. None of the Above

Last Answer : D. All of the Above Explanation: Payments banks can issue services like ATM cards, debit cards online banking and mobile banking.

Pakistan Ideology which brings harmony among people is based on: A. Muslims are a separte nation with own religion, culture, civilization, customs and philosophy B. Muslims live according to Islamic teaching and the Quranic Laws in a free state C. Minorities are given full protection and are treated as first class citizens within the framework of Muslim Shariah D. All of the above

Description : Pakistan Ideology which brings harmony among people is based on: A. Muslims are a separte nation with own religion, culture, civilization, customs and philosophy B. Muslims live according to Islamic ... are treated as first class citizens within the framework of Muslim Shariah D. All of the above

Last Answer : ANSWER: D

Pakistan Ideology which brings harmony among people is based on: A. Muslims are a separte nation with own religion, culture, civilization, customs and philosophy B. Muslims live according to Islamic teaching and the Quranic Laws in a free state C. Minorities are given full protection and are treated as first class citizens within the framework of Muslim Shariah D. All of the above

Description : Pakistan Ideology which brings harmony among people is based on: A. Muslims are a separte nation with own religion, culture, civilization, customs and philosophy B. Muslims live according to Islamic ... are treated as first class citizens within the framework of Muslim Shariah D. All of the above

Last Answer : ANSWER: D

Banks issue a letter to beneficiary on behalf of its constituents like guarantee for making payment on their behalf on fulfilment of its terms and conditions. What is this arrangement known in banking context? A. Line of Credit B. Loan to Client C. Loan on Credit D. Letter of Credit

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Last Answer : D. Letter of Credit Explanation: A letter issued by a bank to another bank (especially one in a different country) to serve as a guarantee for payments made to a specified person under specified conditions.

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For expanding access to banking services, the RBI has advised banks to open branches with minimum infrastructure support of 8 to 10BC units at a reasonable 3-4km. Such branches are known as _______ A. White Label ATMs B. Ultra Small Branches C. Banking Kiosks D. CBS Terminals E. ICT Hubs

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_______ refers to the system in which two are more banks are brought under common control by a device other than the holding company? A. Chain Banking B. Group Banking C. Mixed Banking D. Branch Banking E. None of the Above

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Last Answer : A. Chain Banking Explanation: Chain Banking refers to the system in which two are more banks are brought under common control by a device other than the holding company.

The Definition of „Banking‟ is given in _______ A. Negotiable Instrument Act, 1881 B. RBI Act, 1934 C. The Banking Regulation Act, 1949 D. Indian Contract Act, 1872 E. None of the Above

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SMERA has been registered under _______ A. Securities and Exchange Board of India Act, 1992 B. Reserve Bank of India Act, 1934 C. Banking Regulation Act, 1949 D. Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 E. None of these

Description : SMERA has been registered under _______ A. Securities and Exchange Board of India Act, 1992 B. Reserve Bank of India Act, 1934 C. Banking Regulation Act, 1949 D. Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 E. None of these

Last Answer : D. Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 Explanation: SMERA has been registered under Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999.

RBI can inspect the branches of Banks under _______ of the Banking Regulation Act, 1949 A. Section 35 B. Section 25 C. Section 15 D. Section 30 E. None of the Above

Description : RBI can inspect the branches of Banks under _______ of the Banking Regulation Act, 1949 A. Section 35 B. Section 25 C. Section 15 D. Section 30 E. None of the Above

Last Answer : A. Section 35 Explanation: RBI can inspect the branches of Banks under section 35 of the Banking Regulation Act, 1949

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

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.

RNBC stands for _______ A. Residuary Non Banking Companies B. Reserve Non Banking Companies C. Reserve New Banking Companies D. Residuary New Banking Companies E. None of the Above

Description : RNBC stands for _______ A. Residuary Non Banking Companies B. Reserve Non Banking Companies C. Reserve New Banking Companies D. Residuary New Banking Companies E. None of the Above

Last Answer : A. Residuary Non Banking Companies Explanation: RNBC - Residuary non banking companies. Residuary Non-Banking Company is a class of NBFC which is a company and has as its principal business the ... scheme or arrangement or in any other manner and not being investment, asset financing, loan company.

Infrastructure Finance Company (IFC) is a non-banking finance company has a minimum Net Owned Funds of _______ A. Rs.100 Crore B. Rs.200 Crore C. Rs.500 Crore D. Rs.300 Crore E. None of the Above

Description : Infrastructure Finance Company (IFC) is a non-banking finance company has a minimum Net Owned Funds of _______ A. Rs.100 Crore B. Rs.200 Crore C. Rs.500 Crore D. Rs.300 Crore E. None of the Above

Last Answer : D. Rs.300 Crore Explanation: Infrastructure Finance Company (IFC) is a non-banking finance company has a minimum Net Owned Funds of Rs.300 Crore.

_______ allows users to access accounts and pay bills (1) Distance Learning (2) Online Banking (3) E-Commerce (4) Multimedia

Description : _______ allows users to access accounts and pay bills (1) Distance Learning (2) Online Banking (3) E-Commerce (4) Multimedia

Last Answer : E-Commerce 

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)

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.

Ruling on depositing money in Al-Baraka Islami Bank ? I manage a few accounts of a company. The company has accounts in several interest bearing banks. Note that account holders only open current accounts and do not charge interest. Isn't it better to keep all these lazy money in an Islamic bank lik

Description : Ruling on depositing money in Al-Baraka Islami Bank ? I manage a few accounts of a company. The company has accounts in several interest bearing banks. Note that account holders only open current accounts and ... income tax and duties or in other similar sectors ? Or can it be used in any sector ?

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Description : The structure of the registry which will enable quick sharing of information about unstructured borrowers and help banks fight bad loans. The registry is called _______ A. CIBIL B. Fraudelent Borrowers List C. RBI wilful Defaulter List D. Central Fraud Registry E. None of the Above

Last Answer : D. Central Fraud Registry Explanation: The Reserve Bank of India has operationalised a Central Fraud Registry (CFR). The registry will make available more information to banks at the time of starting a ... of an account. The CFR is a centralised searchable database which can be accessed by banks.

Scheduled banks are required to keep cash reserve with RBI, interms of _______ A. Section 24 of the Banking Regulation Act, 1949 B. Section 20 of the Banking Regulation Act, 1949 C. Section 42(i) of the RBI Act, 1934 D. Section 42 of Negotiable Instruments Act

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Last Answer : C. Section 42(i) of the RBI Act, 1934 Explanation: Every bank included in the Second Schedule shall maintain with the Bank an average daily balance the amount.

A _______ is a collection of information saved as a unit: a) Folder b) File Extension c) File d) Path e) Print Out

Description : A _______ is a collection of information saved as a unit: a) Folder b) File Extension c) File d) Path e) Print Out

Last Answer : c) File

Which of the following is/are correct about the “Operational Risk” as used in the field of banking? A. Risk of loss due to inadequate or failed internal process B. Risk of loss due to natural calamities C. Loss occurred due to non-compliance of legal procedures D. All of the Above E. None of the Above

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Last Answer : A. Risk of loss due to inadequate or failed internal process Explanation: The Basel Committee defines the operational risk as the ―risk of loss resulting from inadequate or failed internal processes, people and systems or from external events‖.

Under ______ debentures, if the issuer fails on payment of either the principal or interest amount, his assets can be sold to repay the liability to the investors A. Secured Debentures B. Partly Convertible Debentures (PCD) C. Fully convertible Debentures (FCD) D. Optionally Convertible Debentures (OCD) E. Unsecured Debentures

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Last Answer : A. Secured Debentures Explanation: These instruments are secured by a charge on the fixed assets of the issuer company. So if the issuer fails on payment of either the principal or interest amount, his assets can be sold to repay the liability to the investors.

Governments hired some highly skilled hackers. These types of hackers are termed as _______ a) Special Hackers b) Government Hackers c) Cyber Intelligence Agents d) Nation / State sponsored hackers

Description : Governments hired some highly skilled hackers. These types of hackers are termed as _______ a) Special Hackers b) Government Hackers c) Cyber Intelligence Agents d) Nation / State sponsored hackers

Last Answer : d) Nation / State sponsored hackers

_______ is an integrated bill payment system which will offer inter operable bill payment service to customers online as well as through a network of agents on the ground. A. BBPS B. IMPS C. AEPS D. APBS E. None of the Above

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_______ is used for electronic dealing and reporting of transactions in government securities A. Delivery versus Payment (DvP) B. Negotiated Dealing System (NDS) C. Risk Mitigation D. All of the Above E. None of the Above

Description : _______ is used for electronic dealing and reporting of transactions in government securities A. Delivery versus Payment (DvP) B. Negotiated Dealing System (NDS) C. Risk Mitigation D. All of the Above E. None of the Above

Last Answer : B. Negotiated Dealing System (NDS) Explanation: The Negotiated Dealing System (NDS) for electronic dealing and reporting of transactions in government securities was introduced in February ... , bids or applications for primary issuance of Government Securities when auctions are conducted.

_______ percentage of Payment Bank‟s branches must be in the unbanked rural area. A. 25% B. 10% C. 15% D. 20% E. None of the Above

Description : _______ percentage of Payment Bank‟s branches must be in the unbanked rural area. A. 25% B. 10% C. 15% D. 20% E. None of the Above

Last Answer : A. 25% Explanation: 25% of Payment Bank‘s branches must be in the unbanked rural area.

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Description : Payment banks can accept a restricted deposit which is currently limited to _______ per customer account. A. Rs.1 lakh B. Rs.3 lakh C. Rs.2 lakh D. Rs.5 lakh E. None of the Above

Last Answer : A. Rs.1 lakh Explanation: Payment banks can accept a restricted deposit which is currently limited to Rs. 1 lakh per customer account.

A byte is a collection of _______ A. 4 bits B. 12 bits C. 6 bits D. 8 bits

Description : A byte is a collection of _______ A. 4 bits B. 12 bits C. 6 bits D. 8 bits

Last Answer : D. 8 bits

The distributed system is a collection of (P) and communication is achieved in distributed system by (Q) , where (P) and (Q) are : (A) Loosely coupled hardware on tightly coupled software and disk sharing, respectively. (B) Tightly coupled hardware on loosely coupled software and shared memory, respectively. (C) Tightly coupled software on loosely coupled hardware and message passing ,respectively. (D) Loosely coupled software on tightly coupled hardware and file sharing, respectively.

Description : The distributed system is a collection of (P) and communication is achieved in distributed system by (Q) , where (P) and (Q) are : (A) Loosely coupled hardware on tightly ... message passing ,respectively. (D) Loosely coupled software on tightly coupled hardware and file sharing, respectively.

Last Answer : (C) Tightly coupled software on loosely coupled hardware and message passing ,respectively. 

An annuity is a series of equal payments occuring at equal time intervals, and this amount includes the sum of all payments plus interest, if allowed to accumulate at a definite rate of interest from the time of initial payment to the end of annuity term. Ordinary annuity is used in the calculation of the (A) Manufacturing cost (B) Depreciation by sinking fund method (C) Discrete compound interest (D) Cash ratio

Description : An annuity is a series of equal payments occuring at equal time intervals, and this amount includes the sum of all payments plus interest, if allowed to accumulate at a definite rate of interest from ... cost (B) Depreciation by sinking fund method (C) Discrete compound interest (D) Cash ratio

Last Answer : (B) Depreciation by sinking fund method

Capital employed is Rs.50,000 Trading Profit amounted Rs.12,200, Rs.15,000 and Rs.2000 loss for 2016, 2017 and 2018 respectively. Rate of interest is 8% and the rate of risk is 2% Remuneration from alternative employment of the proprietor is Rs.3,600 pa. Amount of Goodwill at 3 years. purchase of super Profit is A Rs.8,000 B Rs.8,800 C Rs.8,850 D Rs.9,500 ANS: Rs.8,850

Description : Capital employed is Rs.50,000 Trading Profit amounted Rs.12,200, Rs.15,000 and Rs.2000 loss for 2016, 2017 and 2018 respectively. Rate of interest is 8% and the rate of risk is 2% Remuneration from alternative employment of the ... A Rs.8,000 B Rs.8,800 C Rs.8,850 D Rs.9,500 ANS: Rs.8,850

Last Answer : A

Subsidies are payment by government to – (1) Consuming units (2) Producing units (3) Banking units (4) Retired persons

Description : Subsidies are payment by government to – (1) Consuming units (2) Producing units (3) Banking units (4) Retired persons

Last Answer : (2) Producing units Explanation: A subsidy is essentially a payment by the government to suppliers/producers that reduce their costs of production and encourages them to increase output.

Subsidies are payment by government to (1) Consuming units (2) Producing units (3) Banking units (4) Retired persons

Description : Subsidies are payment by government to (1) Consuming units (2) Producing units (3) Banking units (4) Retired persons

Last Answer : Producing units

Excess of credit over to debit in Profit & Loss Account indicates _______

Description : Excess of credit over to debit in Profit & Loss Account indicates _______

Last Answer : Excess of credit over to debit in Profit & Loss Account indicates _______ (a) Net Profit (b) Gross Profit (c) Gross Loss (d) Net Loss

Part of company‟s earning or profit which is paid out to share holders is known as _______ A. Premium B. Dividend C. Bonus D. Sum Assured E. Return

Description : Part of company‟s earning or profit which is paid out to share holders is known as _______ A. Premium B. Dividend C. Bonus D. Sum Assured E. Return

Last Answer : B. Dividend Explanation: A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits. When a corporation earns a profit or surplus, it can re-invest ... business (called retained earnings), and pay a fraction of the profit as a dividend to shareholders.

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Description : Workers will not strike approximately 7 days for a. $1 difference in wages. b. $300 difference in benefit package. c. percentage point difference in Profit Sharing. d. 1 hour difference in training. e. percentage point difference in Annual Raise.

Last Answer : d. 1 hour difference in training.

In the Human Resources section, workers will strike one week for: a. every 1% your Annual Raise Negotiations Ceiling is beneath Labor’s demand. b. every $300 your Benefits Negotiations Ceiling is beneath Labor’s demand. c. every 1% your Profit Sharing Negotiations Ceiling is beneath Labor’s demand. d. every $1 your Wage Negotiation Ceiling is beneath Labor’s demand. e. all of the above.

Description : In the Human Resources section, workers will strike one week for: a. every 1% your Annual Raise Negotiations Ceiling is beneath Labor's demand. b. every $300 your Benefits Negotiations Ceiling is beneath ... every $1 your Wage Negotiation Ceiling is beneath Labor's demand. e. all of the above.

Last Answer : e. all of the above.

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Description : Labor Negotiation includes: a. hourly wage. b. benefits. c. profit sharing. d. annual raise. e. all of the above.

Last Answer : e. all of the above.

Currency Swap is an instrument to manage _______ A. currency risk B. interest rate risk C. currency and interest rate risk D. cash flows in different currency E. All of the above

Description : Currency Swap is an instrument to manage _______ A. currency risk B. interest rate risk C. currency and interest rate risk D. cash flows in different currency E. All of the above

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Currency swap is an instrument to manage _______ A. Interest Rate Risk B. Currency Risk C. Cash flows in different countries D. All of the Above E. None of the Above

Description : Currency swap is an instrument to manage _______ A. Interest Rate Risk B. Currency Risk C. Cash flows in different countries D. All of the Above E. None of the Above

Last Answer : C. Cash flows in different countries Explanation: A currency swap (or a cross currency swap) is a foreign exchange derivative between two institutions to exchange the principal and/or interest ... loan in one currency for equivalent amounts, in net present value terms, in another currency.

The wire having a green plastic covering is a _______. (1) Line wire (2) Neutral wire (3) Earth wire (4) None of these

Description : The wire having a green plastic covering is a _______. (1) Line wire (2) Neutral wire (3) Earth wire (4) None of these

Last Answer : (3) Earth wire Explanation: The earth wire is a crucial part of the home electrical system and is designed to protect against electric shock.