Commerce MCQ

Test your knowledge with important Commerce MCQ and their applications. These MCQs are beneficial for competitive exams too. Explore 30 + more Commerce MCQs at Bissoy

• PRAN Stands for:
  ক

  Permanent Retirement Account Number

  খ

  Pension Retirement Account Number

  গ

  Permanent Referral Account Number

  ঘ

  None of the Above
• RBI set up the Agricultural Refinance Corporation (ARC) in 1963 to work as a refinancing agency in providing medium term and long-term agricultural credit to support investment credit needs for agricultural development. In 1975, ARC was renamed as Agriculture Refinance and Development Corporation (ARDC) to give focused attention to credit offtake, development and promotion of the agricultural sector. Ultimately, NABARD was set by RBI in 1982 whose main function is that it:
  ক

  directly lends and monitors the rural borrowers

  খ

  refinances the banks extending rural finance

  গ

  refinances the rural borrowers obtaining credit from banks

  ঘ

  directly finances the rural borrowers and gets refinance from government
• Which purpose of the following is to hold the negligent person responsible for the loss and prevent the insured from collecting twice for the same loss?
  ক

  Subrogation

  খ

  Indemnity

  গ

  Insurable interest

  ঘ

  Contribution
• The Chairman of NABARD is
  ক

  Governor of R.B.I.

  খ

  Finance Minister

  গ

  Deputy Governor of R.B.I.

  ঘ

  None of the above
• NSE's Certification in Financial Markets (NCFM) is a necessary qualification for becoming a trading member.
  ক

  Yes

  খ

  No

  গ

  Both A and B

  ঘ

  None of these
• Which of the following is not a function of a Rural Bank?
  ক

  To accept deposit

  খ

  To waive loans

  গ

  To grant advances

  ঘ

  To supply inputs to farmers
• Unsecured exposure will attract the following provision
  ক

  20% for assets in sub-standard category

  খ

  100% for assets in doubtful and loss category

  গ

  Both A and B

  ঘ

  None of the above
• Banks lend money by<br>1. Loan<br>2. Cash credit<br>3. Overdraft<br>4. Discounting of bill<br>Select the correct answer
  ক

  Both 1 and 2

  খ

  1, 2 and 4

  গ

  2, 3 and 4

  ঘ

  All of these
• Every listed company is required to submit to the stock exchange the shareholding pattern of the company on a
  ক

  quarterly basis

  খ

  monthly basis

  গ

  yearly basis

  ঘ

  half yearly basis
• When did the National Housing Bank start its operations?
  ক

  July, 1982

  খ

  July, 1988

  গ

  April, 1980

  ঘ

  March, 1971
• In order to control credit in the country, the RBI may
  ক

  buy securities in the open market

  খ

  sell securities in the open market

  গ

  reduce CRR

  ঘ

  reduce bank rate
• Credit creation is a . . . . . . . . of a bank.
  ক

  primary function

  খ

  agency function

  গ

  general utility function

  ঘ

  None of these
• Development Financial Institutions are usually helped by government and regulatory bodies. Which of the following instrument/s provided support funding support to them, specifically during initial periods?
  ক

  Lines of credit from RBI

  খ

  Statutory Liquidity Ratio bonds

  গ

  Both A and B

  ঘ

  None of the above
• The old name of which bank was imperial bank
  ক

  Union bank of India

  খ

  State bank of India

  গ

  Punjab National Bank

  ঘ

  Central bank of India
• Which of the following limits the power of credit creation by Commercial Banks?
  ক

  Fiscal Policy

  খ

  Banking Laws

  গ

  REPO rates

  ঘ

  Business Pessimism
• It has been generally viewed that when an economy grows beyond its potential growth rate, it causes inflation. How does growing faster than the potential rate cause inflation?
  ক

  Fast growth causes more productivity which leads to higher supply and cost put inflation

  খ

  Fast growth causes quick resources utilization to full fill the higher demand

  গ

  Fast growth causes more employment opportunities which leads to rise in prices

  ঘ

  None of these
• In the process of currency deflation, the rate of inflation:
  ক

  decreases

  খ

  increases

  গ

  remains constant

  ঘ

  None of the above
• 'SWIFT' stands for:
  ক

  Society for Worldwide Inter-bank Fund Transfer

  খ

  Society for Worldwide Inter-bank Fast Transmission

  গ

  Society for Worldwide Inter-bank Financial Telecommunications

  ঘ

  None of the above
• Which of the following is not true about Mobile Money Identifier (MMID)?
  ক

  Mobile Money Identifier (MMID) is a seven-digit number, issued by banks for effecting financial transactions through the user's mobile phone

  খ

  The user's mobile number MMID are uniquely linked with his bank account number, and is one of the key inputs to facilitate fund transfer

  গ

  Both the remitter and the beneficiary are required to have their MMIDs to effect a fund transfer through the mobile phone

  ঘ

  A unique MMID and mobile number combination helps in identifying the beneficiary's details. A single MMID can be linked to a mobilenumber
• Which of the following statements are true in context of Development Financial Institutions (DFls) in few years after economic reforms in 1991?<br>1. DFls such ICICI, IDBI and IFCI had a huge pile of bad loans.<br>2. DFls no longer had access to low-cost long-term funds from the government or the central bank to finance large infrastructure projects. They were forced to borrow at higher rates from the market.<br>3. Banks began financing infrastructure projects, that was actually out of their mandate.<br>4. RBI established a committee under S. H. Khan for transition of DFIs into universal banks.<br>5. ICICI Bank and IDBI went for reverse merger in a quest to create Universal Banks.
  ক

  1, 2, 3 and 4

  খ

  2 and 3

  গ

  2, 3, 4 and 5

  ঘ

  1, 2, 3, 4 and 5
• (CSAT-Aptirudeat) 8% annual compound interest rate, a Government savings certificate doubles the invested money in approximate 9 years. If finance minister wants to get the money doubled in only 4 years, by approximately what percentage he should increase this scheme's interest rate from its present rate?
  ক

  45%

  খ

  125%

  গ

  225%

  ঘ

  None of above
• Inadequate insurance coverage held by a policy holder is known as
  ক

  insurance

  খ

  underinsurance

  গ

  max insurance

  ঘ

  premium
• CRA Stands for:
  ক

  Central Record keeping Agency

  খ

  Central Record Agency

  গ

  Central Record keeping Agent

  ঘ

  None of the above
• Which one of the following is an important activity of the World Bank borrowings?
  ক

  It borrows in the international capital market

  খ

  It borrows on currency on swap agreements

  গ

  It borrows under the discount net programme

  ঘ

  All of the above
• Select the techniques of monetary control adopted by RBI from the following:<br>1. Cash Reserve Ratio<br>2. Statutory Liquidity Ratio<br>3. Bank Rate<br>4. Foreign Exchange Rate in a full manner
  ক

  1, 2, 3, 4

  খ

  2, 3 and 4

  গ

  1, 3 and 4

  ঘ

  1, 2 and 3
• Which bank is called the 'Bank of Issue'?
  ক

  RBI

  খ

  SBI

  গ

  IDBI

  ঘ

  ICICI
• Consider the following statements.<br>1. In case of standard assets, provision for NPA must be 25% for all types of standard assets.<br>2. In case of sub-standard assets, provision for NPA must be 10% for all types of standard assets.<br>3. In case of doubtful assets, 100% provision is required for unsecured and secured advances.<br>4. In case of loss assets, 10% of unsecured and 100% of secured advance must be kept as provision for NPAs.<br>Which of the statement(s) given above is/are correct?
  ক

  Only 3

  খ

  1, 2 and 4

  গ

  Only 4

  ঘ

  Both 1 and 3
• The success of E-banking depends upon:<br>1. Multi-layer Security System<br>2. Risk and Surveillance Management<br>3. Updated Flawless Software<br>4. Stringent Legal Frame-work
  ক

  1 and 2

  খ

  1, 2 and 3

  গ

  2, 3 and 4

  ঘ

  All of the above
• Registering the nomination or cancellation or change of nomination shall be regarded as important policy holder services as observed by IRDA. Recently it has taken steps regarding this registration that
  ক

  no charge for late payment of premium

  খ

  no charge for reimbursement

  গ

  no charge for change of nomination

  ঘ

  None of the above
• In India, the Exim Bank was established in the year
  ক

  1972

  খ

  1982

  গ

  1985

  ঘ

  1991