Tuesday, 25 April 2017

Banking Questions Test (MCQ)- 57

1.    A clean bill is one which
a.    does not contain any superimposed clauses regarding manner of its payment
b.    does not indicate defective condition of the goods or packing
c.     is not accompanied by any document of title to goods
d.    allows for interest for overdue period at the rate applicable to clean advances

2.    Export credit refinance is provided by RBI to banks at the rate of:
a.    Bank Rate
b.    Repo Rate
c.     Reverse Repo Rate
d.    Bank Rate + 1%

3.    A foreign exchange transaction is a ____ to exchange funds in one ____ for funds in another currency at an agreed rate and on arranged basis
a.    currency, currency
b.    arrangement, currency
c.     currency, agreement
d.    contract, currency

4.    An establishment having its shop just opposite the New Delhi railway station is authorized by RBI to purchase & sell foreign traveler cheques & foreign currency notes from/to the foreign tourist. This is known as
a.    Authorized Dealer
b.    Authorized Money Changer
c.     Authorized authority
d.    Money changer

5.    Which of the following foreign exchange transaction is a capital account transaction?
a.    Encashment of TC by a foreign tourist
b.    Issuance of a foreign TC to a person in India for visit abroad
c.     Payment of import or export bills relating to merchandise
d.    Subscription of share capital by a foreign institution in an Indian company

6.    When the delivery under a forex deal is completed by the 2nd banking day following the date of contract, the rate is called
a.    TT rate
b.    Buy rate
c.     Forward rate
d.    Spot rate

7.    In the concept of balance of payment, which of the following is not part of visible trade
a.    Financial service
b.    Air service
c.     Shipping service
d.    All

8.    When foreign exchange is bought in spot & sold in forward simultaneously is called
a.    Swap
b.    Future
c.     Option
d.    Forward

9.    In India, the normal transit period is prescribed by ____ from time to time
a.    RBI
b.    DGFT
c.     FEDAI
d.    Bank

10. Who among the following announces EXIM policy in India?
a.    RBI
b.    FEDAI
c.     Ministry of Commerce
d.    Ministry of Finance

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


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