Dear Readers,
Question 1: Which of the following is NOT a type of bank account?
(a) Savings account
(b) Current account
(c) Fixed deposit account
(d) Demat account
(e) Trading account
Answer: (e)
Question 2: What is the Reserve Bank of India (RBI)?
(a) The Central Bank of India
(b) A commercial bank
(c) A government-owned bank
(d) A private-sector bank
(e) A foreign bank
Answer: (a)
Question 3: What is the repo rate?
(a) The rate at which the RBI borrows money from commercial banks
(b) The rate at which the RBI lends money to commercial banks
(c) The rate at which commercial banks lend money to each other
(d) The rate at which the RBI sets the maximum interest rate for savings accounts
(e) The rate at which the RBI sets the minimum interest rate for loans
Answer: (b)
Question 4: What is a non-performing asset (NPA)?
(a) A loan that is unlikely to be repaid
(b) A loan that is more than 90 days past due
(c) A loan that is in default
(d) All of the above
(e) None of the above
Answer: (d)
Question 5: What is the National Payments Corporation of India (NPCI)?
(a) An organization that regulates the banking industry in India
(b) An organization that promotes financial inclusion in India
(c) An organization that facilitates digital payments in India
(d) An organization that protects consumer rights in India
(e) An organization that provides financial literacy training in India
Answer: (c)
Question 6: What is a credit score?
(a) A numerical representation of a person's creditworthiness
(b) A factor used by lenders to determine the interest rate on a loan
(c) A measure of a person's ability to repay debt
(d) All of the above
(e) None of the above
Answer: (d)
Question 7: What is a debit card?
(a) A card that allows a person to withdraw money from their bank account
(b) A card that allows a person to make purchases using their bank account
(c) Both of the above
(d) None of the above
Answer: (c)
Question 8: What is a credit card?
(a) A card that allows a person to borrow money from their bank account
(b) A card that allows a person to make purchases and pay for them later
(c) Both of the above
(d) None of the above
Answer: (c)
Question 9: What is a PIN (Personal Identification Number)?
(a) A secret code used to verify a person's identity
(b) A number used to access a person's bank account
(c) Both of the above
(d) None of the above
Answer: (c)
Question 10: What is financial fraud?
(a) Any act that is intended to deceive or exploit another person for financial gain
(b) Identity theft, credit card fraud, and investment scams are all examples of financial fraud
(c) It is important to protect yourself from financial fraud by taking steps to safeguard your personal information and financial accounts
(d) All of the above
(e) None of the above
Answer: (d)
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MAHENDRA GURU