Quiz 427: Finance, Business & Economy for Banking Examinations

1.Recently we read in the newspapers that the “European Systemic Risk Council” is proposed to be established which might be chaired by the President of the European Central Bank (ECB). ECB is the central bank of Eurozone which was established by the Treaty of Amsterdam in 1998.
Where are the headquarters of ECB?
(A)London
(B)Rome
(C)Frankfurt
(D)Paris

2.In context with Banking, which among the following is a correct with regard to Merchandise Credit and Merchandise Debit?
(A)Merchandise credit relate to export of goods while merchandise debit represent import of goods
(B)Merchandise credit relate to import of goods while merchandise debit represent export of goods
(C)Merchandise credit relate to procurement of goods while merchandise debit represent sale of goods
(D)Merchandise credit relate to sale of goods while merchandise debit represent procurement of goods

3.Recently, Government of India has launched a Scheme of 1 per cent interest subvention on housing loans up to Rs. 10 lakh, provided that the cost of the house is not above Rs. 20 Lakh. Which among the following is the main objective of this scheme?
(A)To bring down the cost of the real estate
(B)To curb the increasing cost of the real estate
(C)To relive the poor people from interest burden
(D)To boost the demand of housing

4.Which among the following is not an OPEC Country?
(A)Algeria
(B)Angola
(C)Indonesia
(D)Qatar

5.Which among the following is India’s largest Agricultural & Allied Products export commodity? (In terms of export Rs. Crore for 2007-08,2008-09,2009-10)
(A)Cotton
(B)Tea
(C)Rice
(D)Marine Products

6.Which among the following group is also referred to as signed the General Arrangements to Borrow (GAB)?
(A)G-7
(B)G-20
(C)G-8
(D)G-10

7.Bring out the correct statement:
(A)The Group of Thirty-Three (G-33) superseded the G-22 and was itself superseded by the G-20
(B)The Group of Twenty-Two (G-22) superseded the G-33 and was itself superseded by the G-20
(C)The Group of Seven (G-7) superseded the G-15 and was itself superseded by the G-20
(D)The Group of Eight (G-8) superseded the G-15 and was itself superseded by the G-20

8.Many a times we read in the newspapers about a term “Repatriation”, which refers to transfer of assets from a foreign country to a home country. Which among the following is a consequence of present government rules in context with the “Repatriation”?
(A)The large companies with foreign shareholding are liberal in their distribution of dividends,
(B)The large companies with foreign shareholding are not liberal in their distribution of dividends,
(C)The large companies with foreign shareholding are able to carry assets to their home countries
(D)The large companies with foreign shareholding are not able to carry the assets from their home countries to India.

9.Many a times we read in the financial newspapers about a term “Progressive Tax System”. Consider the following statements in this context:
1. Progressive tax is harsher on the poor sections of the society
2. In Progressive tax, average tax rate is less than the marginal tax rate
Which among the above statements is / are correct?
(A)Only 1 is true
(B)Only 2 is true
(C)Both 1 & 2 are True
(D)Neither 1 nor 2 are true

10.Recently India’s Income tax department celebrated 150 years of establishment in the country. In the speech of Pranab Mukherjee on this occasion, it was revealed that Income Tax Department has collected nearly Rs. 3.80 Lakh crore in 2009-10. Now the minister asks the Income tax department to make double digit contribution of direct taxes to GDP by collecting high revenues and help in building strong nation. What is the current contribution of the Direct Taxes to GDP?
(A)6.1%
(B)7.3%
(C)8.2%
(D)9.2%

11.Which among the following is the correct statement representing frequently used word “Loan Servicing”?
(A)Loan Servicing is the after sales service provided by the Banks to the customers
(B)Loan Servicing is the repayment of loans to the Banks
(C)Loan Servicing is the facility provided by the banks to make the loans easily accessible to the customers
(D)Loan servicing is paying the interest on loans

12.The terms Entry Load and Exit Load are most frequently used in context with the following?
(A)Health Insurance
(B)Real Estates
(C)Mutual Funds
(D)Housing Loans

13.Which among the following is a correct statement about the current position in context with the ‘entry load’ & ‘exit load’ ?
(A)Both ‘entry load’ & ‘exit load’ have been reduced recently by SEBI
(B)’entry load’ & ‘exit load’ have been called off recently by SEBI
(C)’entry load’ has been called off and ‘exit load’ has not been changed by SEBI
(D)’entry load’ has not been changed by SEBI & ‘exit load’ has been called off

14.At Present, our country has about 32000 rural bank branches. The government, in order to facilitate inclusive growth throughout the country has in the Budget Speech 2010-2011 directed banks to extend the reach of financial services to 73000 villages of the country, which have a
population of ___________ as per 2001 Census by 2012. Which among the following is the correct numeral to fill in the blank?
(A)1000
(B)2000
(C)3000
(D)4000

15.What are the current Repo Rate and Reverse Repo Rate?
(A)6.25, 5.25
(B)5.75, 4.5
(C)5.75, 4.75
(D)5.5, 4.5

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