Dear Readers,
1-What is the purpose of the Basel III framework in banking regulation?
A. Promote riskier lending
B. Enhance financial stability
C. Encourage off-balance-sheet transactions
D. Facilitate tax evasion
E.None of these
Answer: B
2-Which financial institution is responsible for regulating and supervising banks in the United States?
A. Federal Reserve System
B. International Monetary Fund (IMF)
C. World Bank
D. Securities and Exchange Commission (SEC)
E. None of these
Answer: A
3-What is the main objective of the Know Your Customer (KYC) guidelines in banking?
A. Increase customer privacy
B. Prevent money laundering and fraud
C. Promote competitive banking practices
D. Reduce interest rates
E.None of these
Answer: B
4-Which of the following is NOT one of the functions of a central bank?
A. Issuing currency
B. Regulating interest rates
C. Providing commercial loans
D. Managing foreign exchange reserves
E. None of these
Answer: C
5-What is the primary purpose of the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network in international banking?
A. Tracking stock market performance
B. Facilitating secure communication among banks
C. Setting global interest rates
D. Managing cryptocurrency transactions
E. A&D
Answer: B
6-What is the term for the interest rate at which one bank lends funds to another bank in the interbank market?
A. Prime rate
B. LIBOR (London Interbank Offered Rate)
C. Discount rate
D. Repo rate
E.None of these
Answer: B
7-Which of the following is NOT a major credit rating agency?
A. Moody's Investors Service
B. Standard & Poor's (S&P)
C. Fitch Ratings
D. Interbank Settlement Agency (ISA)
E. None of these
Answer: D
8-What does the term "FDIC" stand for in the context of U.S. banking?
A. Federal Department of Investment and Credit
B. Financial Depository and Insurance Corporation
C. Federal Deposit Insurance Corporation
D. Foreign Direct Investment Commission
E.None of these
Answer: C.
9-What is the primary function of a "central clearing counterparty" (CCP) in financial markets?
A. Facilitating stock market IPOs
B. Clearing and settling financial transactions
C. Managing government bonds
D. Providing venture capital funding
E. None of these
Answer: B.
10-When was Rahul Mishra honoured with the "Chevalier del'Ordre des Arts et des Lettres" award?
a) September 16, 2023
b) September 18, 2023
c) September 12, 2023
d) September 14, 2023
e) September 17, 2023
Answer: C.
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MAHENDRA GURU