Banking Awareness Quiz for IBPS Clerk VI Mains – Set 2

Hello and welcome to exampundit . Here is a set of Banking Awareness Quiz for IBPS Clerk VI Mains Exam 2017.

1. Banks generally insist account holders to nominate persons to whom the money lying in their accounts should go in the event of
1) death of account holder
2) illness of account holder
3) account holder migrates
4) account holder turns bankrupt
5) Other than those given as options
2. Credit Risk refers to the risk that
1) borrower may opt to get necessary permit/licences
2) wrong strategy is adopted
3) a borrower will default on any type of debt
4) loan processing may be faulty
5) interest rate in the markets may increase
3. Which of the following is a source of collecting money from the public for a company for the first time?
1) Rights issue
2) Bonus shares
3) Follow on offering
4) Initial public offer
5) Secondary offering
4. Which of the following concepts of banking involves booking of web-enabled touch point for basic banking services?
1) Extension Counters
2) Retail Banking
3) Kiosk Banking
4) Satellite Banking
5) Mobile Banking
5. Face value of a Government security is the amount that is to be paid to an investor at the maturity date of the security. The face value is not the same as the
1) Par value
2) Market Price
3) Redemption value
4) Repayment amount
5) Principal value
6. Based on the recovery of the dues, banks are required to classify non-performing assets (NPAs) in the books of the bank under the categories
1) Substandard, Doubtful and Bad Debts
2) Standard, Doubtful and Written-Off Assets
3) Standard, Substandard and Doubtful Assets
4) Standard, Doubtful and Loss Assets
5) Substandard, Doubtful and Loss Assets
7. A mutual fund scheme in which the investors commit their money for a particular period is known as
1) Long-End Scheme
2) Closed-End Scheme
3) Long-Term Fund
4) Open-End Scheme
5) Back-End Scheme
8. The process that has to be undertaken by banks and other financial institutions to prevent them from being used by criminal elements for money laundering is
1) Credit Monitoring Process
2) Credit Rating Process
3) KYC Process
4) Due diligence Process
5) Credit Appraisal Process
9. CVV is an anti-fraud security feature that helps verify that the customer is in possession of her card. The abbreviation of CVV stands for
1) Card Virtual Valuation
2) Confidential Virtual Verification
3) Card Verification Value
4) Core Virtual Value
5) Coded Vulnerability Value
10. The alphabet ‘P’ in the abbreviation EFTPOS stands for
1) Point
2) Private
3) Public
4) Primary
5) Permanent


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