Banking Financial Awareness · General Awareness

Banking Services and Operations

1,239 Questions

Banking Services and Operations cover the fundamental principles of financial institutions, including credit markets, money supply, and risk management. It also addresses various transaction methods and account types used by businesses. This topic is crucial for candidates preparing for banking and insurance recruitment examinations.

Banking AbbreviationsCredit Market OperationsMoney Supply MetricsRisk Management MeasuresForeign Exchange RulesDigital Banking Technology

Banking Services and Operations Questions

Multiple choice book keeping and accountancy banking transactions and accounts relating to cheque functions and services of modern banking meaning of passbook and cashbook journal entries for transactions through bank and for loans

The basic aim of Lead Bank Scheme is that ____________________.

  1. big banks should try to open offices in each district

  2. there should be stiff competition among the various nationalized banks

  3. individual banks should adopt particular districts for intensive development

  4. all the banks should make intensive efforts to mobilize deposits.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The basic aim of Lead Bank Scheme is that there should be stiff competition among the various nationalized banks and big banks should try to open offices in each district.

Multiple choice book keeping and accountancy banking transactions and accounts relating to cheque functions and services of modern banking meaning of passbook and cashbook journal entries for transactions through bank and for loans

An account book which is maintained by the businessman to record only banking transactions entered with the various banks is called Bank book.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

True. A bank book may also be known as a passbook which is maintained only for recording transactions of a bank account. A Bank Book is a statement that shows the transactions that occur is a customer's bank account.  

Multiple choice geography human occupations primary economic activities population of india population

Secondary activity includes _________.

  1. Extraction of natural resources

  2. Processing

  3. Banking

  4. Collection of information
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Manufacturing and Industry sector known as the secondary sector, sometimes as the production sector, includes all branches of human activities that transform raw materials into products or goods. 

The secondary sector includes secondary processing of raw materials, food manufacturing, textile manufacturing and industry

Multiple choice elements of business sources of business finance - 1 classification & choice of sources of funds classification of sources of finance owned funds and borrowed funds

Public deposits are the deposits that are raised directly from _______.

  1. The public

  2. The directors

  3. The auditors

  4. The owners
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Public deposits refer to the deposits that are raised by the company or an organization directly from the public. Public deposits are an important source of financing the medium term and long term requirements of a company.

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

For electronic banking, we should ensure the existence and procedures with regard to

  1. Identification of banking, we should ensure the existence and procedures with regard to

  2. Corrective steps to be taken in case of any deficiencies in the system.

  3. Steps for complying with the laws, rules and regulations

  4. All of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

For electronic banking, we should ensure the existence and procedures with regard to identification of banking.

Electronic banking means 24-hour access to cash through an automated teller machine (ATM) or Direct Deposit of paychecks into checking or savings accounts. But electronic banking involves many different types of transactions, rights, responsibilities. 

Online banking, also known as internet banking, it is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website.

A bank identification number (BIN) is the initial four to six numbers that appear on a credit card. The bank identification number uniquely identifies the institution issuing the card. The BIN is key in the process of matching transactions to the issuer of the charge card.

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

___________ is a used for online transactions.

  1. Physical terminal transaction systems

  2. Software terminal transaction systems

  3. Virtual terminals or gateways

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Used for online transactions:-

1) Physical terminal transaction systems

2) Software terminal transaction systems:-

Transaction processing is a way of computing that divides work into individual, indivisible operations, called transactions. A transaction processing system (TPS) is a software system, or software/hardware combination, that supports transaction processing.

A payment terminal, also known as a point of sale terminal, credit card terminal, EFTPOS terminal is a device which interfaces with payment cards to make electronic funds transfers.

3) Virtual terminals or gateways:-

A virtual payment terminal is a Web-based version of a credit card swipe device that allows merchants to process orders made by mail, over the phone or online.

Virtual terminals facilitate payment for small businesses that might otherwise have difficulty accepting credit card payments.


 

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

Which of the following is a way of Electronic payment ?

  1. Digital token

  2. Credit card

  3. Small card

  4. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Digital token, credit card, small card are a way of electronic payment 

An e-payment system is a way of making transactions or paying for goods and services through an electronic medium, without the use of checks or cash. It's also called an electronic payment system or online payment system.

 

The digital token based payment system is a new form of electronic payment system which is based on electronic tokens rather than e-cheque or e-cash. Electronic payment system is a way of paying for a goods or services electronically, instead of using cash or a check, in person or by mail.

 

A credit card is different from a debit card in that it does not remove money from the user's account after every transaction.

 

Multiple choice commercial applications basic accounting principles and concepts meaning and purposes of accounting need and basic principles of accounting generally accepted accounting principles

Bank overdraft account is a _____________.

  1. Personal account

  2. Real account

  3. Nominal account

  4. Representative personal account
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A bank overdraft represents a liability to a specific person or entity (the bank). Therefore, it is classified as a personal account.

Multiple choice

cash

  1. las medias

  2. el dinero

  3. efectivo

  4. desde
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In Spanish, cash is referred to as 'efectivo'. 'Dinero' is the general word for money.

Multiple choice business organisation import and export procedure types of foreign trade exports and imports nature and scope of foreign trade

Which of the following schemes is not introduced by the EXIM Bank?

  1. Africa Project Development facility

  2. Export Marketing Finance Programme

  3. American Project Development Facility

  4. Export Vendor Development Finance Programme
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The American Project Development Facility is not a recognized scheme of the EXIM Bank of India; the others are established programs.

Multiple choice elements of accounts accounts from incomplete records stakeholders and their information requirements ascertainment of profit and loss calculation of profit or loss under single entry system of accounting and statement of affairs accounts from incomplete records - single entry system

Financial corporations which serve individual savers and commercial mortgage borrowers are classified as ___________________.

  1. savings associations

  2. loans associations

  3. preferred and common associations

  4. savings and loans associations
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Savings and loan associations are financial institutions that specialize in accepting savings deposits and making mortgage loans.

Multiple choice elements of accounts accounts from incomplete records stakeholders and their information requirements ascertainment of profit and loss calculation of profit or loss under single entry system of accounting and statement of affairs accounts from incomplete records - single entry system

________ is interested in information about past profits and financial position.

  1. Owner

  2. Government

  3. Bank

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Everyone in business must keep records. Keeping good records is very important to business. Good records will help owner do the following:

  • Monitor the progress of your business
  • Prepare your financial statements
  • Identify sources of your income
  • Keep track of your deductible expenses
  • Keep track of your basis in property
  • Prepare your tax returns
  • Support items reported on your tax returns.

Multiple choice elements of business sole trade meaning, features and merits of sole proprietorship sole proprietorship - meaning & features formation, characteristics, merits & demerits and objectives of sole proprietorship

The maximum number of partners allowed in the banking business are ______________.

  1. Twenty

  2. Ten

  3. No limit

  4. Two
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The maximum number of members that can exist in partnership is 10 in case of a firm carrying on banking business and 20 in case of any other business.

Multiple choice elements of accounts ratio analysis liquidity ratios accounting ratio's accounting ratios

Which of the following is not included in current assets?

  1. Debtors

  2. Opening Stock

  3. Cash at bank

  4. Cash in hand
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Current assets is a balance sheet account that represents the value of all assets that can reasonably expected to be converted into cash within one year. current assets include cash and cash equivalents, accounts receivable, marketable securities, prepaid expenses, debtors etc.

Multiple choice economics introduction to statistical method and econometrics introduction to statistics partition values frequency distribution tables and graphs

Bankers use ______ approaches to estimate the number of people who will be making deposits compared to the number of people requesting loans.

  1. manipulative

  2. statistical

  3. arithmetic

  4. data analytic
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Bankers use statistical approaches to estimate the number of people who will be making deposits compared to the number of people requesting loans.