Updated: Nov 28, 2020
1. Person needs to save money for:
b) Future Needs
c) Large expense
d) All of these
2. ……….can be considered as a future need, which needs to save money.
a) Life after retirement
b) Buying home
c) Plan for marriage
d) Wanted to go to some other country for higher studies
3. Keeping cash at home is considered as unsafe because:
a) One cannot get any interest rate.
b) One cannot invest money
c) One is not eligible for huge initial investments
d) One cannot protect when it gets stolen
4. Which types of services delivery channels provide:
5. ATM is:
a) Automic Transaction Machine
b) Automatic Transit Machine
c) Automatic Transaction Machine
d) Automated Teller Machine
6. Bank Mitra acts as an agent of bank at those places where it is not possible to open a branch of:
c) Financial Institute
7. ATMs enable a person to:
a) Deposit cash
b) Withdraw cash
c) Fund Transfer and balance enquiry
d) All of these
8. To access the internet banking customer needs:
a) Customer ID and Password
b) Customer name and password
c) Customer ID and Date of Birth
d) Customer ID and Phone Number
9. NEFT stands for:
a) National Electronic Funds Transfer
b) National Electric Fund Transfer
c) National Electronic Fond Transfer
d) National Electronic Fund Transmission
10. RTGS stands for:
a) Real Time Gross Settlement
b) Real Total Gross Settlement
c) Real Time Group Settlement
d) Real Time Gross Service
11. KYC stands for:
a) Know your customer
b) Knowing your customer
c) Know Youth Customer
d) Know Your Custom
12. PMJDY stands for:
a) Pradhan Mantri Jan-Dhan Yojana
b) Pradhan Mantra Jan-Dhan Yojana
c) Pradhan Mantri Jana-Dhan Yojana
d) Pradhan Mantri Jan-Dam Yojanas
13. QR Stands for:
a) Quick Response code
b) Quickly response code
c) Quick responded code
d) None of these
14. What is PMMY?
Ans. PMMY stands for Pradhan Mantri Mudra Yojana.
Shishu: Covering loans up to Rs 50,000
Kishore: Covering loans above Rs 50,000 and upto Rs 5, 00,000
Tarun: Covering loans above Rs 5, 00,000 and upto Rs 10, 00,000
15. What is PMSBY?
Ans: PMSBY stands for Pradhan Mantri Suraksha Bima Yojana.
Eligibility: Between 18 years and 70 years.
Policy period: One year period starting from 1st June 2015 to 31st May 2016.
Premium: Rs 12+service tax (per annum)
Risk Coverage: Total coverage under the scheme is Rs 2 lakh.
16. What is PMJJBY?
Ans. PMJJBY stands for Pradhan Mantri Jeevan Jyoti Bima Yojana
Eligibility: Between 18 and 50 years
Policy period: From 1 June 2015 to 31 May 2016
Premium: Rs 330+ Service tax (per annum)
Risk coverage: 2, 00,000 on death
17. The full form of DD is Demand Drafts.
18. What is IFSC?
Ans. IFSC stands for Indian Financial System Code. This is 11 digit codes with the first 4 alpha characters representing the bank and last 6 characters representing the branch. The 5th character is 0.
19. IMPS is immediate payment Service
20. Main security of internet banking is-
b) User Name
c) User address
d) User mobile number
21. Which through app we can transfer the money but cannot do any payment as bill/shopping.
c) Both a & b
22. UTR means—
a) Unique Transaction Reference
b) Unique Transmission Reference
c) Both a & b
23. What is Aadhar seeding?
a) Linking of Aadhaar with Bank account
b) Duplicate issuance of Aadhaar
c) Transfer of Aadhaar
d) None of above
24. Validity period of cheque is
a) 4 months from date of issue
b) 3 months from date of issue
c) 1 month from date of issue
True and False
Q. Saving must be at the top of priority for everyone.
Q. It is unsafe to keep cash at home.
Q. Banks acts as a medium for the transfer of money.
Q. Saving account is accounts, which share a wealth of privileges and tailor made solutions.
Q. Bank Mitra are branch of bank, who act as an agent to transfer the money.
Q. Internet banking is used to pay utility bills.
Q. Pradhan Mantri Suraksha Bima Yojana is an accidental death and a disability insurance scheme.
Q. MUDRA is Micro Units Development and Refinance Agency LTD..
Q. Kishore covers loans above Rs 50,000 and up to Rs 5 Lakh.
Q.Pradhan Mantri Jan Dhan Yojana is not a scheme of Goverment.
Q. Bank is needed to secure money.
Q. Gold Loan is not provided by Bank.
Q. KYC stands for know Your Customer.
Q. Insurance is not providing security.
Q. Shishu in PMJDY cover loans upto Rs 50,000.
Q. IMPS stand for Immediate Payment Service.
Q. UPI mean Unified Payment Interface which is used to transfer money at any time..
Q. RBI means Reserve Bank of India defines the banking rules in India..
Q. Bank gives loan against immovable property.
Q. NPCI stand for National Payment Corporation of India.