Friday, 21 April 2017

Banking Questions Test (MCQ)- 53

1.    Exchange control in India is administered by:
a.    FEDAI
b.    RBI

c.     EXIM Bank
d.    IBA

2.    Authorized dealers in India maintain foreign currency accounts with their correspondent banks abroad. In their mutual communication Ads in India call these accounts as:
a.    Vostro
b.    Nostro
c.     Loro
d.    Forex

3.    An authorized dealer & a customer or two authorized dealers may agree that exchange of currencies would take place at some predetermined future time. Such a transaction is referred to as:
a.    Forward transaction
b.    Future transaction
c.     Spot transaction
d.    Ready transaction

4.    Exchange rates in India are presently decided by:
a.    FEDAI
b.    RBI
c.     DGFT
d.    Market forces

5.    The quotation US $ 1= Rs. 48.40- Rs 48.45 is :
a.    Home currency quotation
b.    Indirect rate
c.     Direct rate
d.    Cross currency rate

6.    The maxim follows in Direct quotation is :
a.    Buy low, sell high
b.    Buy high, sell low
c.     Both buy & sell high
d.    No profit margin

7.    Our customer wants to subscribe to a magazine published in London. The exchange rate for draft will be:
a.    TT buying
b.    TT selling
c.     Bills buying
d.    Bills selling
8.    Under direct quotation, when a currency is at discount:
a.    Discount to be added to both selling & buying rates
b.    Discount to be deducted from both selling & buying rates
c.     Discount to be added to buying rates & deducted from selling rates
d.    Discount to be added to selling rates & deducted from buying rates

9.    The net position of an exchange dealer on a particular day is said to be ‘over bought’ when:
a.    Total purchases of foreign currency are more than its sales
b.    Total sales of foreign currency are more than its purchases
c.     He indulges in buying of foreign currency at more than one currency
d.    None of the above

10. A person resident outside India can’t make investment in:
a.    A nidhi company
b.    Agricultural or plantation activities
c.     Construction of farm houses

d.    All above

Answer-
1
2
3
4
5
6
7
8
9
10
b
b
A
D
c
a
b
b
a
d

If anyone of you are facing any problem in any question, you could just ask in the comment box. We will try to help you according to your problem. 

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