General Awareness MCQ Questions and Answers

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Q1
Which of the following is/are the objective(s) of Free Trade Agreement, India has done with many countries ? 1. To provide support to entrepreneurs for setting up new projects in tiny/SSI sector. 2. For undertaking expansion of business. 3. To support technology up-gradation.
  • A Only 1 and 2
  • B Only 2 and 3
  • C All 1, 2 and 3
  • D Only 1 and 3
Answer: Option C
Q2
One single statement that depicts the financial position of a bank and/or business enterprise at a given point of time is called-
  • A Statement of product details
  • B Reconciliation Statement
  • C Balance Sheet
  • D Quarterly returns submitted to RBI
Answer: Option C
Q3
Banks borrow money from the RBI on which of the following rates ?
  • A Reverse Repo Rate
  • B Repo Rate
  • C SLR
  • D CRR
Answer: Option B
Q4
The Reverse mortgage scheme is launched to give benefit to which of the following groups of society ?
  • A Govt. employees
  • B Senior Citizens
  • C Unemployed youth
  • D War widows
Answer: Option B
Q5
What does the letter ‘M’ depict in the term SME as used in the financial world ?
  • A Maximum
  • B Medium
  • C Mercantile
  • D Mutual
Answer: Option B
Q6
One of the major challenges banking industry is facing these days is deliberate efforts of some people to bring money earned through illegal activities in circulation. Which of the following acts is passed to prevent this activity ?
  • A Payment & Settlements Act
  • B Banking Regulation Act
  • C Negotiable Instrument Act
  • D Narcotics and Psychotropic Substance Act
Answer: Option
Q7
Which of the following organizations provides guarantee to the exporters ?
  • A Exim Bank
  • B Export Credit Guarantee Corporation
  • C Director General Foreign Trade
  • D Reserve Bank of India
Answer: Option B
Q8
Which of the following terms is not used in Banking World ?
  • A Credit
  • B Rate
  • C Financial Status
  • D Discount
Answer: Option
Q9
What is the full form of IRR as used in banking/financial sectors ?
  • A Internal Rate of Return
  • B Internal Revaluation Reserve
  • C Investment Reserve Ratio
  • D Internal Risk Return
Answer: Option A
Q10
Which of the following organisations provides credit history of the borrowers ? (A) CIBIL
  • A ARCIL
  • B SEBI
  • C RBI
  • D CCIL
Answer: Option A
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