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Money and Banking online Test - 21

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Money and Banking online Test - 21
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Weekly Quiz Competition
  • Question 1
    1 / -0
    RBI ensures that bank operate within the set norms by conducting _________ inspections and  ______  monitoring
    Solution
    RBI ensures that bank operate within the set norms by conducting on site inspections and off site monitoring. RBI is the central bank of India. It helps to control the credit creation capacity of all other commercial banks. It is responsible for monitoring the activities of the commercial banks.
  • Question 2
    1 / -0
    Money market deals in _____________________.
    Solution
    The money market is where financial instruments with high liquidity and very short maturities are traded. It is used by participants as a means for borrowing and lending in the short term, with maturities that usually range from overnight to just under a year.
  • Question 3
    1 / -0
    The RBI shareholding in SBI has been reduced to ______.
    Solution
    The government took the control of the Imperial bank of India in 1955. At that time RBI had a 60% stake in it and it was renamed as State Bank of India. The Government had constituted SBI Amendment Ordinance 2007 on June 21 to modify the State Bank of India Act 1955 for buying RBI's entire shareholding in SBI. The move to buy RBI's stake is aimed at enabling the central bank to concentrate on its core function as the banking regulator. SBI is an Indian multinational public sector bank. It is owned by the government. The headquarters of SBI is in Mumbai. It is the largest bank in India holding nearly 25% of the market share.
    Hence, option (D) is the correct answer.

  • Question 4
    1 / -0
    What type of instruments are traded in a Money Market?
    Solution

    TYPES OF MONEY MARKET INSTRUMENTS:

    Treasury Bills. Treasury bills (T-bills) are short-term notes issued by the U.S. government.
    Federal Agency Notes.
    Short-Term Tax Exempts.
    Certificates of Deposit.
    Commercial Paper.
    Bankers' Acceptances.
    Repurchase Agreements.
  • Question 5
    1 / -0
    The provisions of General Reserve in Banking Companies are made keeping in view the provisions of__________.
    Solution
    The provisions of General Reserve in Banking Companies are made keeping in view the provisions of Banking Companies Act, 1949. The Banking Companies Act, 1949 was introduced by the Government of India in order to regulate functions of all the banking companies in India.
  • Question 6
    1 / -0
    What do you mean by reverse-repo?
  • Question 7
    1 / -0
    Fund means __________.
    Solution
    Receivable turnover ratio = Net credits sale/ Average accounts receivable = 10
    and average collection period  =360
    receivables turnover ratio = 36
    Hence a receivable turnover ratio of 10 implies that the credit sales are 10 times the average receivables or in other words receivables are generated 10 times during the year.
  • Question 8
    1 / -0
    In a broader sense, cash includes ________________.
    Solution
    Cash in the broader sense includes actual cash in the form of coins and bank drafts held by the firm, deposits withdrawable on demand and marketable securities which can be immediately sold or converted into cash.
  • Question 9
    1 / -0
    Many times we see banks advertise - "Anywhere Banking: Anytime Banking". Which of the following products/facilities launched by banks make it possible for the customers to avail banking services 24 hours all seven days?
    A. ATM
    B. Internet Banking
    C. Universal cheque book facility
    Solution

    • An automated teller machine (ATM) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, transfer funds, or obtaining account information, at any time and without the need for direct interaction with bank staff.
    • Internet banking is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website.
    • A cheque is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued.
    All these facilities are available to a customer all the time.

  • Question 10
    1 / -0
    At which of the following rates does the Central Bank lend to banks against government securities?
    Solution

    Repo rate is the rate at which the central bank of a country (Reserve Bank of India in case of India) lends money to commercial banks in the event of any shortfall of funds. Repo rate is used by monetary authorities to control inflation.

    It does not deal with government securities.

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