1) Which among the following alternative exchange Rate Regime is most popular in the world today?
a. Free Float
b. Managed Float
c. Crawling Peg d. Fixed-but-Adjustable Exchange Rate
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Answer
Explanation
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ANSWER: Fixed-but-Adjustable Exchange Rate
Explanation:
No explanation is available for this question!
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2) KYC guidelines have been issued under which section of Banking Regulation ACT 1949?
a. Section 35 A
b. Section 45
c. SECTION 36 A d. Section 123 B
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Answer
Explanation
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ANSWER: Section 35 A
Explanation:
KYC guidelines were issued under Section 35 A of the Banking Regulation Act, 1949.These were introduced in year 2002 by RBI and all banks were asked to make all accounts KYC compliant by 31 December 2005.Banks are also required to periodically update their customers’ KYC details.
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3) Which of the following is not the key element of the KYC Policy?
a. Customer Acceptance Policy
b. Customer Identification Procedures
c. Monitoring of Transactions d. None of the Above
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Answer
Explanation
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ANSWER: None of the Above
Explanation:
As per RBI guidelines all banks are required to formulate a KYC Policy with the approval of their respective boards. The KYC Policy consists of the following four key elements: 1) Customer Acceptance Policy 2) Customer Identification Procedures 3) Monitoring of Transactions 4) Risk Management.
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4) For how many days in a year a person should reside in India before applying for the enrolment of Aadhar Card?
a. 182 days
b. 179 days
c. 132 days d. 366 days
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Answer
Explanation
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ANSWER: 182 days
Explanation:
A person should reside in India for 182 days in a year before applying for the enrolment of Aadhar Card. To obtain an Aadhaar number, an individual has to submit following:
Biometric (photograph, finger print, iris scan)
Demographic (name, date of birth, address) information
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5) Which of the following is not the type of credit reporting institutions?
a. Credit Bureau
b. Credit Agencies
c. Both a and b d. None of the above
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Answer
Explanation
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ANSWER: Both a and b
Explanation:
There are two types of Credit Reporting Institutions. These are Credit Bureau and Credit Registry. Credit Registries tend to be public entities. They are usually managed by central banks or bank supervision agencies. In contrast, Credit Bureaus tend to be privately owned and privately operated companies.
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6) FEMA was implemented by replacing FERA in which year?
a. 31.01.2002
b. 01.06.2000
c. 31.01.2000 d. 01.01.2003
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Answer
Explanation
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ANSWER: 01.06.2000
Explanation:
FEMA was promulgated in the year 1999, to repeal and replace the earlier act. The act came into force w.e.f 01.06.2000.The act applies to the whole country and to all the branches and agencies of the body corporate operating outside India, whose owner or controller is an Indian resident.
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7) Liberalized Exchange Rate Management System (LERMS) is effective from which of the following dates?
a. June 1,1993
b. March1,1993
c. April1,1993 d. July 1,1993
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Answer
Explanation
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ANSWER: March1,1993
Explanation:
Liberalized Exchange Rate Management System (LERMS) involving the dual exchange rate was instituted after the recommendations of C. Ranagarajan Committee. It is effective from March 1, 1993.
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8) SMERA has been registered under which of the following Acts?
a. Securities and Exchange Board of India Act, 1992
b. Reserve Bank of India Act, 1934
c. Banking Regulation Act, 1949 d. Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999
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Answer
Explanation
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ANSWER: Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999
Explanation:
SMERA has been registered under Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999.SMERA is registered with the Securities and Exchange Board of India (SEBI) as 6th Credit Rating Agency in India.
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9) What is India’s present Credit Ratings?
a. Baa2
b. Baa3
c. AAA- d. Baa1
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Answer
Explanation
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ANSWER: Baa2
Explanation:
Moody’s Investors Service has upgraded the Government of India’s local and foreign currency issuer ratings to Baa2 from Baa3 .It has changed the outlook on the rating to stable from positive.
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10) Venture capital was originated in which of the following countries?
a. India
b. Britain
c. France d. USA
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Answer
Explanation
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ANSWER: USA
Explanation:
The public successes of the venture capital industry in the 1970s and early 1980s gave rise to a major proliferation of venture capital investment firms. Venture Capital Fund of America, the first private equity firm focused on acquiring secondary market interests started its operation in 1982.
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