General Awareness - Banking System & Capital Market Short Questions Answers

Questions

51 EXIM Bank was set-up in:

A 1980

B 1982

C 1984

D 1986

View Answer Comment

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

View Answer Comment

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

View Answer Comment

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

View Answer Comment

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

View Answer Comment

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

View Answer Comment

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

View Answer Comment

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

View Answer Comment

Answer: Option [D]

59 The marginal propensity to consume lies between

A 0 to 1

B 0 to ∝

C 1 to ∝

D ∝ to ∝

View Answer Comment

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

View Answer Comment

Answer: Option [B]

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