1.What are the services available under IMPS?
A.
Funds Transfer and Remittances
B.
Merchant Payments
C.
NUUP
D.
Both (A) and (B)
E.
All of the Above
Answer
& Explanation
E.
All of the Above
Explanation:
The
services available under IMPS are
Funds
Transfer and Remittances
Merchant
Payments
NUUP
QSAM
2.
What is the full form of NUUP?
A.
National Unified USSD Protocol
B.
National Unitied USSD Platform
C.
National Unitied USSD Protocol
D.
National Unified USP Platform
E.
National Unified USSD Platform
Answer
& Explanation
E.
National Unified USSD Platform
Explanation:
NUUP
– National Unified USSD Platform
3.
Which of the following is a USSD based mobile banking service from NPCI that
brings
together all the Banks and Telecom Service Providers?.
A.
WAP
B.
QSAM
C.
NUUP
D.
Both (A) and (B)
E.
Both (B) and (C)
Answer
& Explanation
C.
NUUP
Explanation:
NUUP
(National Unified USSD Platform) is a USSD based mobile banking service from
NPCI
that brings together all the Banks and Telecom Service Providers.
4.
In NUUP, a customer can access banking services by just pressing ________
from
his/her
mobile phones.
A.
*999#
B.
#*99#
C.
*99#
D.
1*99#
E.
None of the Above
Answer
& Explanation
C.
*99#
Explanation:
In
NUUP, a customer can access banking services by just pressing *99# from his/her
mobile
phones. This service works across all GSM mobile handsets.
5.
What is the full form of QSAM?
A.
Quality Service on Aadhaar Mapper
B.
Query Sending on Aadhaar Mapping
C.
Query Service on Aadhaar Mapper
D.
Quality Service on Aadhaar Mapping
E.
Query Sending on Aadhaar Mapper
Answer
& Explanation
C.
Query Service on Aadhaar Mapper
Explanation:
Query
Service on Aadhaar Mapper
6.
_________ service helps user in knowing their Aadhaar Seeding status with
their
bank
account.
A.
WAP
B.
QSAM
C.
NUUP
D.
Both (A) and (B)
E.
Both (B) and (C)
Answer
& Explanation
B.
QSAM
Explanation:
QSAM
(Query Service on Aadhaar Mapper) – This service helps user in knowing their
Aadhaar
Seeding status with their bank account
7.
QSAM service can be availed by dialling ________
A.
*999#
B.
*99*99#
C.
*99#
D.
1*99#
E.
None of the Above
Answer
& Explanation
B.
*99*99#
Explanation:
This
service can be availed by dialling *99*99#. User will know whether his/her
AADHAAR
number is seeded/linked to any bank account number or not. If yes, then
with
which bank and when it was last updated.
8.
How many digits are there in Mobile Money Identifier(MMID)?
A.
7 digits
B.
9 digits
C.
10 digits
D.
11 digits
E.
None of the Above
Answer
& Explanation
A.
7 digits
Explanation:
Mobile
Money Identifier is a 7 digit number, issued by banks. MMID is one of the input
which
when clubbed with mobile number facilitates fund transfer. Combination of
Mobile
no. & MMID is uniquely linked with an Account number and helps in
identifying
the
beneficiary details. Different MMID‘s can be linked to same Mobile Number.
9.
A customer can link how many account to the same mobile number?
A.
Only One
B.
Only Two
C.
Only Three
D.
More than One
E.
None of the Above
Answer
& Explanation
D.
More than One
Explanation:
customer
can link more than one account to the same mobile number. However each A/C
no
will have different MMID.
10.
An unbanked customer can initiate IMPS transaction using the services of
_______.
A.
PPI
B.
PCI
C.
PFI
D.
PDI
E.
None of the Above
Answer
& Explanation
A.
PPI
Explanation:
An
unbanked customer can initiate IMPS transaction using the services of Pre-Paid
Payments
instrument issuer (PPI).
1.
Which of the following is the Slogan of UPI(Unified Payment Interface)?
A.
Less Amount More Digital
B.
Less Cash More Transaction
C.
Less Cashflow More Digital
D.
Less Circulation More Digital
E.
Less Cash More Digital
Answer
& Explanation
E.
Less Cash More Digital
Explanation:
Less
cash more digital is the Slogan of UPI(Unified Payment Interface)
2.
Which of the following is the parent organisation of UPI?
A.
RBI
B.
GOI
C.
NPCI
D.
All of the Above
E.
None of the Above.
Answer
& Explanation
C.
NPCI
Explanation:
National
Payments Corporation of India(NPCI) is the parent organisation of UPI(Unified
Payment
Interface)
3.
Customers using the UPI system only share _____
A.
Bank Account Number
B.
IFSC Code
C.
Virtual Address
D.
All of the Above
E.
None of the Above.
Answer
& Explanation
C.
Virtual Address
Explanation:
Customers
using the system do not have to disclose any sensitive information such as
bank
account numbers or IFSC codes during a financial transaction. It is safe as the
customers
only share a virtual address and provide no other sensitive information.
4.
What is the upper transaction limit of UPI system?
A.
1 lakh
B.
2 lakh
C.
5 lakh
D.
10 lakh
E.
No limit
Answer
& Explanation
A.
1 lakh
Explanation:
The
upper transaction limit of UPI is Rs.1 lakh.
5.
Which of the following is the format of Virtual Address in UPI?
A.
[name] @ [bank name] B. [Phone number] @ [bank name] C. [name] @ [bank branch
name]
D. Both (A) and (B)
E.
Both (B) and (C)
Answer
& Explanation
D.
Both (A) and (B)
Explanation:
Instead
of account details, the receiver can share a virtual address, which can be your
name,
or your phone number and the sender can transfer money. For example, if your
name
is abc, the your virtual address could be abc@axisbank or abc@icicibank; if
your
phone
number is 1234567890, then your virtual address could be 1234567890@axisbank
or
1234567890@icicibank and so on.
6.
In UPI, we can Send money to any bank account through mobile without
entering
____________
A.
debit/credit card details
B.
net banking/wallet password
C.
receiver‘s account number.
D.
All of the Above
E.
None of the Above.
Answer
& Explanation
D.
All of the Above
Explanation:
Send
money up to Rs 1 lakh to any bank account through the mobile without entering
debit/credit
card details, net banking/wallet password or even knowing the receiver‘s
account
number.
7.
Which of the following banks are on-boarded as issuers?
A.
IDBI Bank
B.
RBL Bank
C.
Karnataka Bank
D.
Both (A) and (B)
E.
Both (B) and (C)
Answer
& Explanation
D.
Both (A) and (B)
Explanation:
IDBI
Bank and RBL Bank are on-boarded as issuers. It enables their customers to
download
any UPI enabled Apps mentioned above and link their account.
8.
Unified Payment System (UPI), a common platform which links your _________
to
a
virtual payment address, effectively making money transfer as easy as an SMS.
A.
Bank Account Number
B.
IFSC Code
C.
Virtual Address
D.
All of the Above
E.
None of the Above.
Answer
& Explanation
A.
Bank Account Number
Explanation:
Unified
Payment System (UPI), a common platform which links your bank account
number
to a virtual payment address, effectively making money transfer as easy as an
SMS.
9.
UPI will eliminate the need of entering ________ details
A.
Bank Account Number
B.
IFSC Code
C.
CVV code
D.
All of the Above
E.
None of the Above.
Answer
& Explanation
D.
All of the Above
Explanation:
UPI
can be used for shopping at the supermarket, or online shopping as well. It
will
eliminate
the need of entering card details such as number, expiry date, CVV code and
OTP.
10.
What are the important instruments under Indian Stamp Act, 1899?
A.
bill of exchange
B.
power of Attorney
C.
policy of insurance
D.
None of the Above
E.
All of the Above
Answer
& Explanation
E.
All of the Above
Explanation:
Important
Instruments are agreements, conveyances, exchange, gift, Certificate of sale,
deed
of partition, Power of Attorney to sell immovable property when given for
consideration,
deed of settlement and transfer of lease by way of assignment, bill of
exchange,
bill of lading, debenture, letter of credit, policy of insurance, proxy,
receipt and
transfer
of shares.
1.
Which of the following is/are feature(s) of e-stamping?
A.
Cost Savings
B.
Security
C.
User-friendly
D.
All of the Above
E.
None of the Above
Answer
& Explanation
D.
All of the Above
Explanation:
Features:
Easy
accessibility and faster processing
Security
Cost
savings
User
friendly
2.
Which of the following can be used to check the authenticity of the
Certificate?
A.
PAN Number
B.
Unique Identification Number
C.
A/C Number
D.
All of the Above
E.
None of the Above
Answer
& Explanation
B.
Unique Identification Number
Explanation:
UIN
is a Unique system generated number mentioned on the e-Stamp Certificate.
Anybody,
having the Unique Identification Number, can check the authenticity of the
Certificate
3.
What are the different modes of paying stamp duty in e-Stamping system?
A.
RTGS
B.
NEFT
C.
Pay order
D.
All of the Above
E.
None of the Above
Answer
& Explanation
D.
All of the Above
Explanation:
Client
can pay stamp duty amount through the following modes
Cash
Cheque
Demand
Draft
Pay
Order
RTGS
NEFT
Account
to Account transfer.
4.
In which States/UT s e-Stamping is currently operational?
A.
Gujarat
B.
Karnataka
C.
Punjab
D.
All of the Above
E.
None of the Above
Answer
& Explanation
D.
All of the Above
Explanation:
e-Stamping
is currently operational in the States/UT s of Gujarat, Karnataka, NCT Delhi,
Assam,
Tamil Nadu, Rajasthan, Himachal Pradesh, Uttarakhand, UT of Dadra & Nagar
Haveli,
UT of Daman & Diu, Puducherry, Uttar Pradesh, Chhattisgarh, Jharkhand,
Jammu
& Kashmir, Punjab and Chandigarh.
5.
Which of the following is a computer based application and a secured way of
paying
Non-Judicial
stamp duty to the Government?
A.
Commercial Papers
B.
E-stamp
C.
Treasury bill
D.
All of the Above
E.
None of the Above
Answer
& Explanation
B.
E-stamp
Explanation:
e-Stamping
is a computer based application and a secured way of paying Non-Judicial
stamp
duty to the Government.
6.
Stamp Duty collected by the States can be broadly divided into _______
categories
A.
One
B.
Two
C.
Three
D.
All of the Above
E.
None of the Above
Answer
& Explanation
B.
Two
Explanation:
Stamp
Duty collected by the States can be broadly divided into two categories, viz.,
Stamp
Duty paid under the Indian Stamp Act, 1899 and Stamps used in payment of fees
under
the Court-fees Act 1870.
7.
Which of the following details can be used to verify the authenticity of an
e-Stamp?
A.
Certificate Number (UIN)
B.
Stamp Duty Type (Description of Document)
C.
6 character alphanumeric string
D.
All of the Above
E.
None of the Above
Answer
& Explanation
D.
All of the Above
Explanation:
An
e-Stamp can be verified online by clicking on verify e-Stamp certificate and
entering
the
required details i.e
State
Certificate
Number (UIN)
Stamp
Duty Type (Description of Document)
Certificate
Issue Date
6
character alphanumeric string
8.
Which of the following payment should be initiated only after consulting
nearest e-
Stamping
center?
A.
RTGS
B.
NEFT
C.
Pay order
D.
Both (A) and (B)
E.
Both (B) and (C)
Answer
& Explanation
D.
Both (A) and (B)
Explanation:
RTGS
/ NEFT payment should be initiated only after consulting nearest e-Stamping
center.
9.
Stamps used under the Indian Stamp Act, 1899 & The Bombay Stamp Supply
And
Sale
Rules, 1934, can be broadly divided into _______ categories.
A.
One
B.
Two
C.
Three
D.
All of the Above
E.
None of the Above
Answer
& Explanation
B.
Two
Explanation:
Stamps
used under the Indian Stamp Act, 1899 & The Bombay Stamp Supply And Sale
Rules,
1934, can be broadly divided into two categories.
Impressed
stamps
Adhesive
stamps.
10.
SHCIL will accept Stamp Duty Payment in ______ only
A.
US$
B.
Euro
C.
INR
D.
None of the Above
E.
All of the Above
Answer
& Explanation
C.
INR
Explanation:
SHCIL
will accept Stamp Duty Payment in Indian Rupees (INR) only.
1.
What is the fullform of eSBTR?
A.
Electronic Secured Basic Transaction Receipt
B.
Electronic Stamp Bank Treasury Receipt
C.
Electronic Stamp Bank Transaction Receipt
D.
Electronic Secured Bank Treasury Receipt
E.
Electronic Secured Basic Treasury Receipt
Answer
& Explanation
D.
Electronic Secured Bank Treasury Receipt
Explanation:
e-SBTR,
is an Electronic – Secured Bank and Treasury Receipt, issued by the Officer of
the
participating bank, on secured Government stationery, on payment of Stamp- duty
in
Virtual
Treasury.
2.
Which of the following is the country‟s largest custodian and depository
participant?
A.
CIBIL
B.
SEBI
C.
NABARD
D.
SHCIL
E.
None of the Above
Answer
& Explanation
D.
SHCIL
Explanation:
Stock
Holding Corporation of India Ltd (SHCIL), India‘s largest custodian and
depository
participant.
3.
The Headquarters of SHCIL is located in ___________
A.
Hyderabad
B.
Mumbai
C.
Chennai
D.
New Delhi
E.
None of the Above
Answer
& Explanation
B.
Mumbai
Explanation:
The
Headquarters of SHCIL is located in Mumbai, Maharashtra.
4.
Which of the following is the only Central Record Keeping Agency (CRA)
appointed
by
the Government of India?
A.
CIBIL
B.
SEBI
C.
NABARD
D.
SHCIL
E.
None of the Above
Answer
& Explanation
D.
SHCIL
Explanation:
SHCIL
is appointed as Central Record-keeping Agency (CRA) and associated with stamp
duty
collection and not valuation.
5.
Stock Holding Corporation of India Limited is owned by?
A.
SU-UTI
B.
NIA
C.
GIC
D.
LIC
E.
All of the Above
Answer
& Explanation
E.
All of the Above
Explanation:
Stock
Holding Corporation of India Limited(SHCIL) is owned by the India‘s leading
Banks
and Financial Institutions such as, SU-UTI, IFCI Ltd., LIC, GIC, NIA, NIC, UIC,
and
TOICL.
6.
SHCIL was established in 1986 under the Government of India as __________
A.
Private Ltd
B.
Public Ltd
C.
Limited Liability Partnership
D.
Unlimited company
E.
None of the Above
Answer
& Explanation
B.
Public Ltd
Explanation:
Stock
Holding Corporation of India Limited(SHCIL) was established in 1986 under the
Government
of India as public limited company.
7.
Minimum value of transaction for e-SBTR should be _______
A.
Rs.1000
B.
Rs.2000
C.
Rs.3000
D.
Rs.5000
E.
No limit
Answer
& Explanation
D.
Rs.5000
Explanation:
Minimum
value of transaction for e-SBTR should be Rs.5,000.
8.
Maximum value of transaction for e-SBTR should be _________
A.
Rs.1000
B.
Rs.2000
C.
Rs.3000
D.
Rs.5000
E.
No limit
Answer
& Explanation
E.
No limit
Explanation:
There
is no maximum limit.
9.
Authorised Collection Center(ACC) is an agent appointed by SHCIL?
A.
SU-UTI
B.
GOI
C.
GIC
D.
SHCIL
E.
All of the Above
Answer
& Explanation
D.
SHCIL
Explanation:
ACC
means Authorised Collection Center (ACC). Its an agent appointed by SHCIL.
ACC
is the intermediary between the CRA and Stamp Duty payer.
10.
Which of the following can become ACCs?
A.
Scheduled Banks
B.
Insurance Majors
C.
Post Offices
D.
Both (A) and (B)
E.
Both (A) and (C)
Answer
& Explanation
E.
Both (A) and (C)
Explanation:
Scheduled
Banks and Post Offices can become ACCs.
1.
________ is a temporary pass through account held by a third party during
the
process
of a transaction between two parties.
A.
Savings Bank Account
B.
Current Account
C.
Deposit Account
D.
Escrow Account
E.
None of the Above
Answer
& Explanation
D.
Escrow Account
Explanation:
Escrow
Account: Account in which funds are accumulated for specific disbursements.
It
is a temporary pass through account held by a third party during the process of
a
transaction
between two parties.
2.
Which of the following is not available to depositors of NBFCs?
A.
Deposit Insurance facility
B.
Acquisition of shares
C.
Loans and Advances
D.
All of the Above
E.
None of the Above
Answer
& Explanation
A.
Deposit Insurance facility
Explanation:
Deposit
insurance facility of Deposit Insurance and Credit Guarantee Corporation is not
available
to depositors of NBFCs, unlike in case of banks.
3.
NBFCs include ______
A.
loan company
B.
investment company
C.
asset finance company
D.
All of the Above
E.
None of the Above
Answer
& Explanation
D.
All of the Above
Explanation:
NBFCs
include a loan company, an investment company, asset finance company (i.e. a
company
conducting the business of equipment leasing or hire purchase finance) and
Residuary
Non-Banking Companies.
4.
Infrastructure Finance Company (IFC) is a non-banking finance company has a
minimum
Net Owned Funds of _______
A.
Rs.100 Crore
B.
Rs.200 Crore
C.
Rs.500 Crore
D.
Rs.300 Crore
E.
None of the Above
Answer
& Explanation
D.
Rs.300 Crore
Explanation:
Infrastructure
Finance Company (IFC) is a non-banking finance company has a minimum
Net
Owned Funds of Rs.300 Crore.
5.
NBFCs whose asset size is of _____ or more as per last audited balance sheet
are
considered
as systemically important NBFCs.
A.
Rs.100 Crore
B.
Rs.200 Crore
C.
Rs.500 Crore
D.
All of the Above
E.
None of the Above
Answer
& Explanation
C.
Rs.500 Crore
Explanation:
NBFCs
whose asset size is of Rs.500 Crore or more as per last audited balance sheet
are
considered
as systemically important NBFCs.
6.
Which of the following does not guarantee the repayment of deposits accepted
by
NBFCs?
A.
RBI
B.
GOI
C.
SEBI
D.
NABARD
E.
None of the Above
Answer
& Explanation
A.
RBI
Explanation:
RBI
does not guarantee the repayment of deposits accepted by NBFCs.
7.
RNBC stands for _______
A.
Residuary Non Banking Companies
B.
Reserve Non Banking Companies
C.
Reserve New Banking Companies
D.
Residuary New Banking Companies
E.
None of the Above
Answer
& Explanation
A.
Residuary Non Banking Companies
Explanation:
RNBC
– Residuary non banking companies. Residuary Non-Banking Company is a class
of
NBFC which is a company and has as its principal business the receiving of
deposits,
under
any scheme or arrangement or in any other manner and not being investment,
asset
financing,
loan company.
8.
RNBCs cannot accept deposits for a period less than ______ months and more
than
____
months
A.
12, 84
B.
12, 60
C.
24, 60
D.
24, 84
E.
None of the Above
Answer
& Explanation
A.
12, 84
Explanation:
RNBCs
cannot accept deposits for a period less than 12 months and more than 84
months.
9.
According to accepting public deposits, NBFCs can be classified into ____
broad
categories.
A.
Two
B.
Three
C.
Four
D.
All of the Above
E.
None of the Above
Answer
& Explanation
A.
Two
Explanation:
According
to accepting public deposits, NBFCs can be classified into two broad
categories,
viz.,
(i)
NBFCs accepting public deposit (NBFCs-D)
(ii)
NBFCs not accepting/holding public deposit (NBFCs-ND).
10.
IFC is a non-banking finance company with Capital to Risk (Weighted) Assets
Ratio
(CRAR)
of _____
A.
15%
B.
20%
C.
25%
D.
30%
E.
None of the Above
Answer
& Explanation
A.
15%
Explanation:
IFC
is a non-banking finance company with Capital to Risk (Weighted) Assets Ratio
(CRAR)
of 15%.
1.
A fund that tracks an index but can be traded like a stock is known as
_______
A.
Exchange Traded Funds(ETF)
B.
Mutual Funds
C.
Energy Funds
D.
Investment Fund
E.
None of the Above
Answer
& Explanation
A.
Exchange Traded Funds(ETF)
Explanation:
An
ETF(Exchange Traded Fund) is a marketable security that tracks an index, a
commodity,
bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF
trades
like a common stock on a stock exchange.
2.
________ are financial markets for the buying and selling of long-term debt
or
equity-backed
securities.
A.
Bullion Market
B.
Capital Market
C.
Money Market
D.
All of the Above
E.
None of the Above
Answer
& Explanation
B.
Capital Market
Explanation:
Capital
market is a market where buyers and sellers engage in trade of financial
securities
like
bonds, stocks, etc
3.
A market established for the buying and selling of precious metals such as
Gold and
Silver
is termed as ________
A.
Bullion Market
B.
Capital Market
C.
Money Market
D.
All of the Above
E.
None of the Above
Answer
& Explanation
A.
Bullion Market
Explanation:
A
market established for the buying and selling of precious metals such as Gold
and
Silver
is termed as Bullion Market.
4.
Which of the following is a currency established as money by government
regulation
or
law but it is not backed by any commodity, such as gold, silver etc., but only
by
the
faith of the bearer?
A.
Commodity Money
B.
Representative Money
C.
Fiat Money
D.
fiduciary currency
E.
None of the Above
Answer
& Explanation
C.
Fiat Money
Explanation:
Fiat
money is currency that a government has declared to be legal tender, but it is
not
backed
by a physical commodity.
5.
Which of the following is a form of money that has an intrinsic value, like
gold
coins?
A.
Commodity Money
B.
Representative Money
C.
Fiat Money
D.
fiduciary currency
E.
None of the Above
Answer
& Explanation
A.
Commodity Money
Explanation:
Commodity
Money is a form of currency in which the value of the currency comes from
the
material of which it is made.
6.
Paper Money issued on the credit of a bank or government is called ______
A.
Commodity Money
B.
Representative Money
C.
Fiat Money
D.
Fiduciary currency
E.
None of the Above
Answer
& Explanation
D.
Fiduciary currency
Explanation:
Fiduciary
Money that depends for its value on confidence that it is an accepted medium
of
exchange. It originated as a paper certificate that was a promise to pay a
certain
amount
of gold or silver to the bearer.
7.
Any type of money that has face value greater than its value as material
substance is
known
as _______
A.
Commodity Money
B.
Representative Money
C.
Fiat Money
D.
fiduciary currency
E.
None of the Above
Answer
& Explanation
B.
Representative Money
Explanation:
A
claim on a commodity, for example gold certificates or silver certificates. Any
type of
money
that has face value greater than its value as material substance is called
Representative
Money.
8.
Loan and Advances of a bank come under which of the following category?
A.
Assets
B.
Liabilities
C.
Deposits
D.
All of the Above
E.
None of the Above
Answer
& Explanation
A.
Assets
Explanation:
Anything
tangible or intangible that can be owned or controlled to produce value and
that
is
held to have positive economic value is considered an asset. Anything tangible
or
intangible
that can be owned or controlled to produce value and that is held to have
positive
economic value is considered an asset.
9.
NABARD was established on the recommendations of the ______________
A.
Public Accounts Committee
B.
Shivaraman Committee
C.
Narasimham Committee
D.
All of the Above
E.
None of the Above
Answer
& Explanation
B.
Shivaraman Committee
Explanation:
NABARD
was established on the recommendations of Shivaraman Committee, (by Act
61,
1981 of Parliament) on 12 July 1982 to implement the National Bank for
Agriculture
and
Rural Development Act 1981.
10.
RBI sold its stake in NABARD to the Government of India, which now holds
_____
stake
A.
65%
B.
70%
C.
95%
D.
99%
E.
None of the Above
Answer
& Explanation
D.
99%
Explanation:
RBI
sold its stake in NABARD to the Government of India, which now holds 99% stake.
_001.jpg)
Thank You