Banking class 12 mcq | term 1


 1. ATM stands for

a) Any Time Money 

b) Automated Teller Machine

c) Automobile Trending Machine 

d) Alternating Turing Machine


2. ALU is
(a) Arithmetic Logic Unit
(b) Array Logic Unit
(c) Application Logic Unit
(d) None of these

 3. Phishing

a) is an electronicinstrumentfor fishing

b) is related to cyber crime 

c) is one of the latest forms of wishing somebody 

d) None of the above 


4. Currently, which bank has the highest ATMs network? 

a) ICICI Bank

b) SBI Bank

c) HDFC Bank 

d) Central Bank


5. RTGS as well as NEFT uses

 a) UTR Number

 b) MICR

 c) IFSC 

d) DNS


 6. What is maximum limit for an NEFT transfer per transaction? 

a) No Limit

 b) 1 lakh 

c) 2 lakhs 

d) 3 lakhs 


7. Why are pay-in-slips used in Banks?

a) To deposit cash or cheques into the Bank account of the account holder

b) To withdraw cash or cheques into the Bank account of the account holder 

c) Both of the above

d) None of the above


8. Which is the safest cheque from the receiver point of view?

a) Account Payee cheque 

b) Bearer Cheque

c) Crossed Cheque 

d) Demand Draft


9.CPU itself has following ___________ components

A. 2
B. 3
C. 4
D. 5

Explanation: CPU itself has following three components : Memory or Storage Unit, Control Unit, ALU(Arithmetic Logic Unit)


 10. How many NEFT batches are run by RBI on Saturday?

a) 3 

b) 6 

c) 9 

d) 12


 11. NEFTS uses _______ for payments

a) Gross settlement 

b) Deferred Net settlement 


12. What is the minimum amount limit for RTGS?

 a) None 

b) Rs 50,000 

c) Rs 2 lakhs 

d) Rs 10 lakhs


 13. Which is the fastest mode of payment? 

a) Credit card 

b) RTGS 

c) NEFT 

d) Cheque 


14. On week days, RTGS is available between _______

 a) 0830 to 1600 hrs 

b) 0900 to 1630 hrs 

c) 0930 to 1700 hrs 

d) 1000 to 1730 hrs


15.On week days, NEFT operates hourly batches from ____

a) 0700 to 1800 hrs 

b) 0730 to 1830 hrs

c) 0800 to 1900 hrs 

d) 0830 to 1930 hrs


16. Which is not electronic based systems?

(a) Inter-Bank Cheques Clearing Systems (the Inter-bank Clearing),
(b) High Value Cheques Clearing System (the High Value Clearing),
(c) Government Securities Clearing System (the G-Sec Clearing),
(d) Foreign Exchange Clearing System (the Forex Clearing) and
(e) Real Time Gross Settlement (RTGS) System.

17. Which part of the Bank is known as the revenue generator? 
a) Front Office 
b) Middle Office 
c) Back Office

18. Which office of the Bank is known as the SWEAT shop?
 a) Front Office
 b) Middle Office 
 c) Back Office

19. Reconciliation of entries is carried out by which part of the Bank? 
a) Front Office 
b) Middle Office
c) Back Office

 20. Which activities are outsourced to the BPO?
 a) Front Office
 b) Middle Office
 c) Back Office

21.Which manages the IT resources for the Bank?

a) Front Office
b) Middle Office
c) Back Office

22. Which manages the risk for the Bank?

a) Front Office

b) Middle Office

c) Back Office

23. Which carries out the transaction processing for the Bank?

a) Front Office 
b) Middle Office
 c) Back Office

24. Which face the client?
a) Front Office 
b) Middle Office 
c) Back Office

25. Bank Operations is segregated into ___ areas
a) 1
b) 2
c) 3

26. Face of the Bank to the customer?
a) Front Office 
b) Middle Office 
c) Back Office
d)Bank Manager

27. ATM standard defines _______ layers.
a) 2
b) 3
c) 4
d) 5

28. Bank Dealers provide brokerage services in case of: 
(a).Equity shares 
(b).Debt Instruments 
(c).Currencies 
(d).All of the above

29. The full form of ATM is:
(a) Any Time Money
(b) All Time Money
(c) Automated Teller Machine
(d) Both (a) and (b)

30.Essential elements of bailment include:
(a) A bailment is usually created by agreement between the bailor and the bailee.
(b) A bailment involves delivery of goods by bailor to bailee.
(c) The delivery of goods from bailor to bailee must be for some purpose such as personal service
(d) All of the above

31. Bailment for the exclusive benefit of bailor –
(a) It is a contract of bailment where no consideration passes between the bailor and the bailee.
(b) It is a contract of bailment where some consideration passes between the bailor and the bailee.
(c) A contract of bailment which is executed only for the benefit of the bailor.
(d) A contract of bailment which is executed for the mutual benefit of the bailor and the bailee.

IMPORTANT ABBREVIATION 

CPU – Central Processing Unit 

ALU –Arithmetic Logical Unit 

TPS – Transaction Processing System

 CORE - Centralised On-line RealTime Environment 

SOA- Service OrientedArchitecture 

BPM - Business Process Management 

ECM - Enterprise Change Management 

OTP - One time password 

PKI - Public Key Infrastructure 

PIN - Personal Identification number 

NBFC – Non Banking Finance Company

AML - Anti Money Laundering

DD – Demand Draft 

ECS – Electronic Clearing System 

NEFT – National Electronic Funds Transfer

RTGS - Real Time Gross Settlement 

IFSC - Indian Financial System Code 

OTP - One Time password 

DNS – Deferred Net Settlement 

CTS – Cheque Truncation System 

BG – Bank Guarantee LC – Letter of Credit

 NSDL - National Securities Depository Limited 

CDSL - Central Depository Services (India) Limited 

DP – Depository Participant 

SEBI – Securities & Exchange Board of India 

NSCCL - National Securities Clearing Corporation Limited

 ISIN - International Securities Identification Number 

RTA - Registrar & Transfer agent 

RRF - Remat Request form 

DRF - Demat Request form

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