Dear Readers,
1-What is the primary purpose of the "Priority Sector Lending" (PSL) guidelines in India?
A) Promoting investments in the stock market
B) Encouraging lending to agriculture and other priority sectors
C) Regulating foreign exchange transactions
D) Setting interest rates for housing loans
E) None of these
Answer: B
2-What is the term used to describe the interest rate at which the central bank lends money to commercial banks overnight in the United States?
A) Prime Rate
B) Federal Funds Rate
C) LIBOR (London Interbank Offered Rate)
D) Mortgage Rate
E) None of these
Answer: B
3-Which of the following financial products is typically characterized by the highest level of liquidity?
A) Fixed Deposit
B) Savings Account
C) Public Provident Fund (PPF)
D) National Savings Certificate (NSC)
E) None of these
Answer: B
4-Who is responsible for the regulation and supervision of Non-Banking Financial Companies (NBFCs) in India?
A) RBI (Reserve Bank of India)
B) SEBI (Securities and Exchange Board of India)
C) IRDAI (Insurance Regulatory and Development Authority of India)
D) Ministry of Finance
E) None of these
Answer: A
5-What is the primary role of a Merchant Acquirer in the context of payment card transactions?
A) Issuing credit cards to consumers
B) Acquiring and processing payment transactions for merchants
C) Regulating ATM operations
D) Managing mobile banking apps
E) None of these
Answer: B
6-In the context of banking, what does the term "AMC" stand for?
A) Asset Management Company
B) Automated Cash Machine
C) Account Management Code
D) Annual Membership Charge
E) None of these
Answer: A
7-Which of the following is a commonly used benchmark for adjustable-rate mortgages (ARMs) in the United States?
A) CD Rate (Certificate of Deposit Rate)
B) T-Bill Rate (Treasury Bill Rate)
C) LIBOR (London Interbank Offered Rate)
D) SENSEX (Sensitive Index)
E) None of these
Answer: C
8-What is the main function of the Small Industries Development Bank of India (SIDBI)?
A) Regulating the insurance industry
B) Providing loans and support to small and medium-sized enterprises (SMEs)
C) Managing foreign exchange reserves
D) Promoting agricultural research
E) None of these
Answer: B
9-Which financial statement provides a snapshot of a company's financial position at a specific point in time?
A) Income Statement
B) Cash Flow Statement
C) Balance Sheet
D) Profit and Loss Statement
E) None of these
Answer: C
10-What is the purpose of the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network in the banking industry?
A) Managing credit card transactions
B) Facilitating international financial transactions and messaging
C) Regulating stock exchanges
D) Calculating mortgage interest rates
E) None of these
Answer: B
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MAHENDRA GURU