Monday, 22 May 2017

Banking Questions Test (MCQ)- 67

Q1.  Bank notes can be issued in … denominations
  1. 11
  2. 10
  3. 9
  4. 8
  5. None of these

Q2. At present how many denominations of bank notes are in circulation?
  1. 9
  2. 8
  3. 11
  4. 10
  5. None of these

Q3. Currency notes are printed in which of the following city?
  1. Nashik (Maharastra)
  2. Dewas (Madhya Pradesh)
  3. Mysore (Karnataka)
  4. Salboni (West Bengal)
  5. All of the above

Q4. GoI issues coins as per which of the following act?
  1. The Coinage Act-1906
  2. The RBI Act
  3.  No act is required as Central Govt is issuing it
  4. The amended Coinage Act-2011
  5. None of the above 

Q5. The maximum denomination for which coins can be issued is…
  1. Rs.10
  2. Rs.100
  3. Rs.1000
  4. Rs.10000
  5. None of the above

Q6.  Coins are minted in which of the following cities?
  1. Alipore in Kolkata
  2. Noida
  3. Mumbai
  4. Saifabad and Cherapply in Hydearabad
  5. All of the above

Q7.  Which of the following is correct regarding our money?
  1. All bank notes are legal tenders to an unlimited extent as per section 26 of the RBI Act
  2. Coins of Re1 and above are unlimited legal tenders as per provision of the Coinage Act
  3. Coins up to and including 25 paisa are no more in circulation
  4. One rupee notes for all purposes are treated as coins
  5. All of the above

Q8. Which of the following is correct regarding our money?
  1. Fifty paisa coin, called subsidiary coin is legal tender for an amount not exceeding Rs.10
  2. No person other than RBI and GOI, can issue can issue PN or BoE payable to bearer on demand as a PN payable to a bearer on demand in effect means currency notes.
  3. Bank notes issued as per the will and orders of the Govt, without any reference to the reserve, the currency so issued is called the flat money.
  4. RBI is required to maintain reserve in the combination of gold, foreign securities, GSecs, rupee notes & coins against the currency it issues
  5. All of the above   

Q9. The last date by which public can exchange currency notes issued prior to the year 2005 is
  1. 31.12.2016
  2. 30.06.2016
  3. 30.09.2016
  4.  No such date is notified by RBI
  5. None of these
Q10. Which of the following is true about demonetization?
  1. RBI is empowered to demonitise currency notes of any denominations
  2. It is required to check hoarding of black money in the form of cash
  3. It is required to check circulation of counterfeit notes
  4. It is used for tax evasion
  5. All of the above
  6. Q No

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