42 - Various Saving Schemes and Products

Banking Awareness Multiple Choice Questions (MCQs) and Answers with explanation on Various Saving Schemes and Products for IBPS Bank PO, IBPS Bank Clerical, RRB PO and Clerical, SBI PO and SBI Clerical, IBPS Recruitments, RBI Grade B and RBI Bank

1. Which deposit account is for individuals to save money and earn the modest interest for that money held in the account?

[A] Savings Bank Account
[B] Current Account
[C] Recurring Account
[D] Fixed Deposit Account

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2. Which of the following has a fixed time and pays higher interest than a SB Acccount?

[A] Savings Bank Account
[B] Fixed Deposit Account
[C] Recurring Account
[D] Current Account

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3. Which of the following products provide an opportunity to build up saving through regular monthly deposits of fixed sum over a period of time?

[A] Fixed Deposit Account
[B] Savings Bank Account
[C] Recurring Deposit Account
[D] Current Account

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4. Which of the following deposit accounts caters to professionals and businessmen alike?

[A] Fixed Deposit Account
[B] Savings Bank Account
[C] Recurring Account
[D] Current Account

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5. Which account is opened by the investor while registering with an investment broker?

[A] De-materialized Account
[B] Recurring Account
[C] Savings Bank Account
[D] Fixed Deposit Account

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6. Which of the following is an account at a bank or credit union that earns interest over a specified amount of time?

[A] Interest Bearing Account
[B] Regular Checking Account
[C] De-materialized Account
[D] Savings Bank Account

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7. What is Bancassurance?

[A] an insurance scheme to insure bank deposits
[B] an insurance scheme exclusively for the employees of banks
[C] a composite financial service offering both bank and insurance products
[D] a bank deposit scheme exclusively for employees of insurance companies

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8. What is the upper age limit for Pradhan Mantri Jeevan Jyoti Bima Yojana renewable insurance scheme?

[A] 55 years
[B] 60 years
[C] 65 years
[D] 50 years

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9. Sukanya Samriddhi Yojana was launched in which year?

[A] 2015
[B] 2016
[C] 2014
[D] 2013

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10. RBI has launched new restructuring tool ‘S4A’ to raise banks’ moral hazard risk. S4A stands for which of the following?

[A] Scheme for Systematic Structuring of Stressed Assets
[B] Scheme for Sustainable Structuring of Scholastic Assets
[C] Scheme for Sustainable Structuring of Stressed Assets
[D] Scheme for Sustainable Strength of Stressed Assets

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