Quiznetik

Basics of Banking and Insurance | Set 2

1. In banking sector, KYC stands for

Correct : C. know your customers

2. The process of replacing physical cheque with electronic cheque is..........

Correct : C. truncation

3. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFASIA) came into effect on.............

Correct : B. june 2002

4. Commission recommended for the formation of RBI is

Correct : C. hil ton young commission

5. Dues made by debtors are...............

Correct : A. npa

6. ---------- represents the rate at which the central bank absorbs liquidity from the banks

Correct : D. reverse repo

7. The first foreign bank which introduced merchant bank in India is

Correct : A. grindlays bank

8. The first Indian public sector bank which introduced its own merchant bank division in India

Correct : C. sbi

9. Which of the following is quantitative measure of credit control of RBI

Correct : C. open market operation

10. Banking Regulation Act passed in the year

Correct : C. 1949

11. The first development bank in India is

Correct : B. ifci

12. ICICI was established in the year

Correct : C. 1955

13. SIDBI was established as a wholly owned subsidiary of..........

Correct : C. idbi

14. The apex development bank in India is

Correct : B. idbi

15. The apex financial institution in India is

Correct : D. rbi

16. ATM stands for...........

Correct : C. automated teller machine

17. Central Land Mortgage Bank was started in Madras in

Correct : D. 1929

18. Central Co-operative banks are organised at........... level

Correct : B. district

19. Head quarters of RBI is

Correct : B. mumbai

20. Head quarters of NABARD is

Correct : B. mumbai

21. Area of operation of RRB comprises of

Correct : A. one or more district

22. Chairman of NABARD is appointed by

Correct : D. central govt.

23. LAB stands for......

Correct : B. local area bank

24. Largest bank in the world (asset wise) is.......

Correct : A. bnp paribus

25. Largest bank in the world in branches is.......

Correct : B. sbi

26. The present Governor of RBI is

Correct : C. raghuram rajan

27. Industrial Reconstruction Bank of India(IRBI) was established in the year

Correct : C. 1985

28. ............ is “Pay later product”

Correct : C. credit card

29. ............ is “Pay now product”

Correct : A. debit card

30. Banking Ombudsman was established in...........

Correct : C. 1995

31. Another name of credit card is.......

Correct : C. plastic money

32. Credit card was first time launched in the world by..........

Correct : B. bank of america

33. “Either of Survivor” account in a bank is............account

Correct : B. joint account

34. In banking, EFT stands for......

Correct : B. electronic fund transfer

35. RTGS stands for.........

Correct : B. real time gross settlement

36. A Head quarter of SIDBI is..........

Correct : D. lucknow

37. The first new generation bank starts its operation in India

Correct : A. icici

38. The first new private sector bank is...............

Correct : D. uti bank

39. Money lenders in Kerala come under purview of........

Correct : D. kerala money lenders act

40. Imperial bank of India was established by amalgamation of .......... presidency banks

Correct : A. 3

41. Custodian of National Rural Credit Stabilisation Fund

Correct : C. nabard

42. Number of public sector Banks in India

Correct : D. 28

43. A mutilated cheque will be -----------

Correct : D. torn

44. FDR stands for..........

Correct : B. fixed deposit receipt

45. The chairman of 13th Finance commission is

Correct : C. vijay kelkar

46. The first bank in the world

Correct : C. bank of venice

47. The first bank in India

Correct : D. bank of hindustan

48. First purely Indian bank is

Correct : B. punjab national bank

49. The first bank in Kerala

Correct : D. nedungadi bank

50. The first international credit card was introduced in India by

Correct : C. andhra bank

51. Certain percentage of the sum assured is paid periodically according to.......... policy

Correct : C. money back

52. The principle of indemnity does not apply to

Correct : D. life and personal accident insurance

53. Transfer of rights and remedies of the insured to the insurer after indemnity has been effected is called

Correct : B. subrogation

54. Guarantee for employer for the loss out of employees dishonest is

Correct : B. fidelity insurance

55. Motor insurance has its beginning in the

Correct : C. uk

56. Fidelity guarantee insurance does not guarantee

Correct : C. the employees honesty

57. Insurance is based on the principle of

Correct : A. co-operation

58. This policy covers all risks to the ship and its cargo while the ship is at a particular port.

Correct : D. port risk policy

59. Fire insurance can be taken in respect of

Correct : C. both a & b

60. The principle of indemnity applicable to...........

Correct : D. all of these

61. Except life insurance the maximum term of other insurance is

Correct : A. 12 months

62. The person whose risk is insured is called

Correct : D. both a &b

63. The person who agrees to compensate the loss arising from the risk is called the ........

Correct : D. all of these

64. ............ policy matures on the assureds’ death or on his attainment of particular age whichever is earlier

Correct : A. endowment policy

65. In marine insurance, insurable interest is enough at the time of........

Correct : B. loss

66. In fire insurance, insurable interest is enough at the time of........

Correct : D. both a & b

67. ......... is an agreement whereby the insurer agrees to indemnify the insured against losses due to sea and port perils

Correct : B. marine insurance

68. ....... are those terms, which are written on the policy

Correct : A. express warranties

69. When the subject matter insured is destroyed wholly refers to.........

Correct : B. actual total loss

70. ------- policy issued on the basis of the number of persons assured

Correct : B. multiple life policy

71. Process of transferring right in respect of a policy from one person to another is

Correct : C. assignment

72. ......... means a wilful and intentional act on part of self destroyer

Correct : B. suicide

73. The central office of LIC is located at

Correct : C. mumbai

74. A person employed to act for another or to represent another while dealing with third party is

Correct : C. agent

75. Maritime perils are also called..........

Correct : A. perils of the sea

76. ............ policy in which the limits of the risks are determined by place of particular voyage

Correct : C. voyage

77. ............. policy covers the risk during a particular voyage for a specific period

Correct : D. mixed

78. The term ‘run off or Fully declared’ refers to

Correct : A. floating policy

79. Wagering policy also known as

Correct : A. policy proof of interest

80. Risk insured against death is a contract of.......

Correct : A. assurance

81. Which of the following contract is not legally enforceable

Correct : C. wagering contract

82. ................. is a document which provides evidence of the contract of insurance

Correct : A. proposal form

83. General Insurance Corporation was established in the year

Correct : A. 1956

84. General insurance business was nationalised under

Correct : B. gibn act.1972

85. The head quarters of New India Assurance Co. Ltd is

Correct : B. mumbai

86. The Head quarters of Oriental Insurance Co.ltd is

Correct : A. new delhi

87. The Head office of National Insurance Co. Ltd is

Correct : C. kolkata

88. The Head office of United India Insurance Co. Ltd is

Correct : D. chennai

89. Life insurance in its present form came to India from

Correct : A. uk

90. LIC was set up in the year

Correct : B. 1823

91. LIC was nationalised in the year

Correct : D. 1956

92. The term “Assurance’ refers........

Correct : A. life insurance

93. The Oriental Life Insurance Company came to India during

Correct : B. 1818

94. The policies where the premium is payable throughout the life of the assured is called

Correct : A. whole life policy

95. With Profit policy is also known as.......

Correct : B. participating policy

96. A reinsurance of reinsurance known as............

Correct : C. retrocession

97. Reinsurance is also termed as..............

Correct : A. insurance of insurance

98. When the same risk and subject matter is insured with more than one insurer is called............

Correct : C. double insurance

99. When the amount for which a subject matter is insured more than its actual value, it is called...............

Correct : A. over insurance

100. IRDA refers to

Correct : A. insurance regulatory development authority