General Awareness - Banking System & Capital Market short Questions & Answers for Examinations | Page-6

51 EXIM Bank was set-up in:
A 1980
B 1982
C 1984
D 1986

Answer: Option [B]
52 Which of the following best defines the term ‘Letter of Credit’ as used frequently in bank transactions ?
A An order from a bank to another bank abroad authorizing the payment of a particular amount to a person named in the letter
B An unconditional undertaking given by a bank ensuing the payment of a particular amount to the drawee at a given date
C Letter by a bank to a person starting the terms and conditions of the loan sanctioned to him by the bank
D Statement showing outstanding deposits and credits of a bank for a particular period

Answer: Option [A]
53 The Imperial Bank of India, in 1955 after nationalization was given the name of:
A Indian Overseas Bank
B Reserve Bank of India
C State Bank of India
D Bank of India

Answer: Option [C]
54 Regional Rural Banks:
I. Have limited area of operation
II. Have free access to liberal refinance facilities from NABARD
III. Are required to lend only to weaker sections
A I and III
B II and III
C I, II and III
D Only II

Answer: Option [C]
55 The liabilities of a commercial bank are:
I. Time deposits
II. Security holdings
III. Demand deposits
IV. Advances from the central bank
A I, II and III
B I, III and IV
C II and IV
D I and III

Answer: Option [B]
56 Consumer gets maximum satisfaction at the point where
A Marginal Utility = Price
B Marginal Utility > Price
C Marginal Utility < Price
D Marginal Cost = Price

Answer: Option [A]
57 The equilibrium of a firm under perfect competition will be determined when
A Marginal Revenue > Average Cost
B Marginal Revenue > Average Revenue
C Marginal Revenue = Marginal Cost
D Marginal Cost > Average Cost

Answer: Option [C]
58 Elasticity (e) expressed by the formula 1> e > 0 is
A Perfectly elastic
B Relatively elastic
C Perfectly inelastic
D Relatively inelastic

Answer: Option [D]
59 The marginal propensity to consume lies between
A 0 to 1
B 0 to ∝
C 1 to ∝
D ∝ to ∝

Answer: Option [A]
60 Exploitation of labour is said to exist when
A Wage = Marginal Revenue Product
B Wage < Marginal Revenue Product
C Wage > Marginal Revenue Product
D Marginal Revenue Product = 0

Answer: Option [B]

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