Promotion Exams: Practice Test 03

JavaScript isn't enabled in your browser, so this file can't be opened. Enable and reload.

https://www.youtube.com/c/GVSBANKCADEMY

Email *

{Note: THIS MOCK TEST IS FOR YOUR PRACTICE PURPOSE. DONT SIMPLY SUBMIT WITHOUT ATTEMPTING MOCK TEST JUST FOR ANSWERS. LEARN CONCEPT & PRACTICE}

1) As pe BR Act 1949, Section 17(1) – every banking company shall create a reserve fund a sum equivalent to not less than -------% of profit of each year (RBI notification 30.12.2021, para 17)

1 point

A) 20%

B) 25%

C) 30%

D) none of the above

2) As per BR Act,1949 section 5(n) Secured loan or advance means: (Canara scale IV to V)

1 point

a) where the market value of security which is not at any time less than the amount of such loan or advance

b) where market value of security is less than 10% of outstanding balance

c) where market value of security is more than 10% of outstanding balance

d) none of the above

3) The three stages of money laundering are:

1 point

(a)Placement, refining, integration

(b)Refining, Integration, Layering

(c)Layering, placement, refining

(d)Placement, Layering, Integration

4) Regarding identification of beneficial owner, which of the following statements are correct:

1 point

a) Company: More than 25 per cent of the shares or capital or profits

b) Partnership firm: More than 15 per cent of the shares or capital or profits

c) Unincorporated association or body of individuals- More than 15 per cent of property

d) Trust: 15% or more interest in the trust

e) all the above

5) DICGC cover upto Rs. 5 lakh NOT APPLICABLE FOR WHICH DEPOSIT

1 point

A) Interbank deposits

B) Deposit in the name of Central Government / State government

C) Foreign Government

D) primary cooperative society

E) ALL THE ABOVE

6. ECB facility for Start-ups : AD Category-I banks are permitted to allow Start-ups to raise ECB under the automatic route for a minimum maturity of ------ years and with an amount limited to USD ----million per financial year:
*

1 point

(a) 3,3

b) 4, 4

c) 5,5,

d) 2,5

7. As per the Revised Guidelines on Resolution of Stressed Assets (RBI notification DT 7.6.2019), in case of borrowers having aggregate exposure of Rs. 15 billion and above, but less than Rs. 20 billion, the reference date is ________:

1 point

a) January 1, 2020

b) June 1, 2020

c) October 1, 2020

d) December 1, 2020

8. Net Income is Rs.3,50,000; Interest Expenses are Rs.4,00,000; and Taxes Rs.50,000. What is the interest coverage ratio?

1 point

a) 1.00

b) 1.5

c) 2.00

d) 2.5

e) 1.75

9. Effective from April 1, 2019, the undrawn portion of cash credit/ overdraft limits sanctioned to the large borrowers, irrespective of whether unconditionally cancellable or not, shall attract a credit conversion factor of ________

1 point

a) 25%

b) 20%

c) 15%

d) 40%

10. For unauthorized electronic transaction within how many days the Customer has to report to the bank for zero liability:

1 point

a) 7 days from the date of transaction

b) 5 days from the date of transaction

c) 3 days from the date of transaction

d) 2 days from the date of transaction

11. The deposit schemes (interest) which are exempted from TDS are:

1 point

a) Fixed

b) Time deposit

c) NRE/FCNR (B)

d) none of these

12. RBI initiates Prompt Corrective Action (w.e.f. 1.1.2022) against commercial banks where:

1 point

a) CRAR <11.5

b) Net NPA above 6%

c) Leverage ratio-Upto 50 bps below the regulatory minimum

d) a to c All

13. Provisions on Standard loan accounts made by a bank are placed in the balance sheet as part of:

1 point

A) Schedule 5 – Other liabilities and provisions - others

B) Schedule 4 – borrowings

C) Schedule3 – deposits

D) none of these

14. For credit card receivables attracts a risk weight of ___ per cent for capital adequacy purpose
*

1 point

a) 50%

b) 75%

c) 100%

d) 125%

15. Chief Risk Officer should not have management or financial responsibility related to any operational business lines or revenue generating functions as there should be no :

1 point

a) Conflict of interest,

b) Overlapping of Role Function,

c)Dual Hatting

d) ALL THE ABOVE

16. Which of the following is not related to money market instrument,

1 point

a) Bank FDR,

b) CD- certificate of deposit,

c) CP- commercial paper,

d) NCD- non convertible debentures

17. Regarding Merchanting Trade Transactions (MTT) – Revised Guidelines dated 23.1.2020, Which of the following statement/s is correct ( Canara IV to V)

1 point

a) For a trade to be classified as merchanting trade, goods acquired shall not enter the Domestic Tariff Area.

b) The entire merchanting trade is to be routed through the same AD bank. The AD bank shall verify the documents like invoice, packing list, transport documents and insurance documents

c) The entire MTT shall be completed within an overall period of nine months and there shall not be any outlay of foreign exchange beyond four months

d) Merchant traders with outstanding of 5% or more of their annual export earnings shall be liable for caution listing.

e) all the above

18. What are the prohibited items under the LRS Scheme? (Canara bank iv to v 13.12.2020)

1 point

a) Remittance from India for margins or margin calls to overseas exchanges / overseas counterparty.

b) Remittances for purchase of FCCBs issued by Indian companies in the overseas secondary market.

c) Remittance for trading in foreign exchange abroad.

d) Capital account remittances, directly or indirectly, to countries identified by the Financial Action Task Force (FATF) as “non- cooperative countries and territories”, from time to time.

e) all The above

19.Regarding LLP- Limited Liability Partnership, which of the following statement is not correct

1 point

a) Minimum 2 partners & maximum 50

b) At least two “Designated Partners” shall be mandatory for all LLPs and at least one of the Designated Partner shall be a resident of India.

c) Small Limited Liability partnership to denote any LLP : Contribution of which, does not exceed twenty-five lakh rupees (Rs. 25,00,000) or such higher amount, not exceeding five crore rupees and Turnover of which, as per the Statement of Accounts and Solvency for the immediately preceding financial year, does not exceed forty lakh rupees (Rs. 40,00,000) or such higher amount, not exceeding fifty crore rupees, as may be prescribed

d) Advantage of LLP: Public Disclosure, Higher Income Tax rates, Inability to raise funds

20) Calculate TOL (Total outside liabilities) to Adjusted tangible net worth from the following information: Capital Rs100 cr, Reserves Rs 250 cr, Intangible assets Rs 25 cr, Fictitious assets Rs 10 cr, Total outside liabilities Rs 700 cr, investments/ loans in outside entities Rs 55cr.

1 point

a) 2.69:1

b) 3.31:1

c) 2.33:1

d) None of the above

21) Regarding RBI Master Circular on Credit Facilities to Minority Communities Dated 2.8.2022, which of the following statement is correct:

1 point

a) a sub-target of 11.5 % of ANBC or Credit Equivalent amount of OBE, whichever is higher, as on March 31 of the previous year, has been mandated for FY2022-23

b) Minority Communities are: (a) Sikhs (b) Muslims (c) Christians (d) Zoroastrians (e) Buddhists (f) Jains

c) In the case of a partnership firm, if the majority of the partners belong to one or the other of the specified minority communities, advances granted to such partnership firms may be treated as advances granted to minority communities.

d) Government of India has forwarded /identified a list of 121 minority concentration districts having at least 25% minority population

e) all the above

22) Regarding External Commercial Borrowings (ECB) Policy – Liberalisation Measures ( RBI Notification dated 1.8.2022), Which of the following statement is correct

1 point

a) increase the automatic route limit from USD 750 million or equivalent to USD 1.5 billion or equivalent.

b) increase the all-in-cost ceiling for ECBs, by 100 bps. The enhanced all-in-cost ceiling shall be available only to eligible borrowers of investment grade rating from Indian Credit Rating Agencies (CRAs).

c) The above relaxations would be available for ECBs to be raised till December 31, 2022.

d) all the above

23) Interest subvention scheme on Credit to Women SHG during the year 2022-23 for all Public Sector Banks, Private Sector Banks and Small Finance Banks in all districts , which of the following statement is correct

1 point

a) The scheme is limited to Women Self Help Groups under DAY-NRLM in rural areas only.

b) For loans up to ₹3 lakh under the scheme, banks will extend credit at a concessional interest rate of 7% per annum. For outstanding credit balance upto ₹3 lakh, banks will be subvented at a uniform rate of 4.5% per annum during FY 2022-23.

c) For loans above ₹3 lakh and up to ₹5 lakh under the scheme, banks will extend credit at interest rate equivalent to their 1 year-MCLR or any other external benchmark-based lending rate or 10% per annum, whichever is lower. For outstanding credit balance above ₹3 lakh and upto ₹5 lakh, banks will be subvented at a uniform rate of 5% per annum during FY 2022-23.

d) all banks are required to submit claim certificates on quarterly basis (i.e. as on June 30, 2022; September 30, 2022; December 31, 2022 and March 31, 2023) to the Nodal Bank

e) all the above

24) Master Direction on Interest Rate on Deposits - Foreign Currency (Non-resident) Accounts (Banks) Scheme [FCNR(B)] and Non-Resident (External) Rupee (NRE) Deposit (RBI notification dated 6.7.2022), which of the following statement is correct

1 point

a) banks are advised that with effect from July 07, 2022, the interest rate ceiling applicable to FCNR (B) deposits is being temporarily withdrawn for incremental FCNR (B) deposits mobilized by banks for the period until October 31, 2022.

b) NRE deposits shall not be higher than those offered by the banks on comparable domestic rupee term deposits. In this regard, the said restriction with respect to interest rates offered on incremental NRE deposits mobilized by banks shall be temporarily withdrawn with effect from July 07, 2022,

c) Fortnight beginning July 30, 2022, incremental FCNR (B) deposits as also NRE Term deposits with reference to base date of July 1, 2022, mobilised by banks will be exempt from maintenance of CRR and SLR. The above exemptions are valid for deposits raised till November 04, 2022.

d) all the above

25) Sovereign Gold Bond (SGB) Scheme, who are the authorised to received the applications:

1 point

a) Designated Scheduled Commercial Banks,

b)designated Post Offices,

c)Stock Holding Corporation of India Ltd, Clearing Corporation of India Ltd and recognized stock exchanges,

d) all the above

26) interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit – Extension, RBI notification dated 8.3.2022, which of the following statement is correct:

1 point

a) Government of India has approved the extension of Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit (‘Scheme’) up to March 31, 2024 or till further review, whichever is earlier

b) Revised interest equalisation rates under the Scheme will now be 3 per cent for MSME manufacturer exporters exporting under any HS lines,

c) 2 per cent for manufacturer exporters and merchant exporters exporting under 410 HS lines

d) IES would be available to those beneficiaries who were availing of the benefit under any Production Linked Incentive (PLI) scheme of the Government. (RBI 31.5.2022)

d) all the above

A copy of your responses will be emailed to the address you provided.

Submit

Clear form

reCAPTCHA

Privacy Terms

This content is neither created nor endorsed by Google. Report Abuse - Terms of Service - Privacy Policy

Forms