Mock Test

Exam: IBPS Clerk Subject: General Awareness Topic: Banking Awareness

Total Questions: 20

Q1. Which of the following is a challenge faced by banks without Core Banking Solutions?

Efficient data management Seamless integration of branches Enhanced customer experience Disparate systems and processes
Q2. Repo Rate is a tool used by the RBI to influence which of the following?

Government spending Inflation Exchange rates Industrial production
Q3. Which of the following is a mobile banking platform?

A. Facebook B. WhatsApp C. Instagram D. Google Pay
Q4. Which type of bank is owned and operated by its members to provide credit and financial services?

Commercial Bank Investment Bank Central Bank Cooperative Bank
Q5. What happens if a depositor misses paying an installment in a Recurring Deposit?

The account is closed A penalty is charged The interest rate increases The maturity amount decreases
Q6. What is the impact of a decrease in Reverse Repo Rate on banks' profitability?

Increase Decrease No impact Depends on other factors
Q7. Which technology is used for transferring funds instantly between banks?

NEFT (National Electronic Fund Transfer) IMPS (Immediate Payment Service) RTGS (Real Time Gross Settlement) UPI (Unified Payments Interface)
Q8. Which of the following is a disadvantage of Internet Banking?

A. Limited access to account information B. Slow transaction processing C. Increased paperwork D. Lack of convenience
Q9. What do banks typically offer to help customers with loan applications?

Selling furniture Providing loan services Running music schools Teaching photography
Q10. What is the primary objective of maintaining SLR?

Boosting profits Ensuring liquidity Maximizing returns Reducing risk
Q11. What is the UPI transaction limit for IPO applications?

Rs. 1,00,000 Rs. 2,00,000 Rs. 5,00,000 No limit
Q12. What is the purpose of credit terms in a credit policy?

To confuse customers To delay payments To manage credit risk To improve customer relationships
Q13. Who issues Commercial paper in the money market?

Banks Government Corporates Stock exchanges
Q14. Who are the major participants in the money market?

Individual investors Government agencies Corporates and financial institutions Real estate developers
Q15. What does MICR stand for in banking?

Magnetic Ink Character Recognition Magnetic Ink Code Recognition Magnetic Ink Check Recognition Magnetic Ink Card Recognition
Q16. What is the primary function of a mobile banking app?

A. Ordering groceries B. Booking flights C. Managing finances D. Watching movies
Q17. An account where a fixed sum is deposited every month for a fixed period is known as?

Current Account Savings Account Fixed Deposit Account Recurring Deposit Account
Q18. Which of the following is a benefit of asset reconstruction by ARCs?

Increasing bad debts Promoting financial instability Enhancing creditworthiness Encouraging defaults
Q19. Which act provides the legal framework for banking regulation in India?

Banking Regulation Act, 1949 Companies Act, 2013 Income Tax Act, 1961 Foreign Exchange Management Act, 1999
Q20. Which financial indicator is negatively affected by high levels of NPAs?

Return on Assets Earnings per Share Price to Earnings Ratio Debt to Equity Ratio

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