Banking/Insurance Quiz for LIC AAO 2016

Hi Aspirants..Here are some useful Questions from Banking/Insurance useful for upcoming LIC AAO Exam 2016 scheduled to be held during March 2016. Attempt the Quiz and share your score. 

Questions for the day. Click the ‘START QUIZ’ button to start the quiz.

1. ‘Ways and Means” advances are provided by Reserve Bank of India only to:

(A) central Government

(B) State Government

(C) Both (A) and (2)

(D) None of the above

2. PAN number is required for all transactions above

(A) Rs. 25,000

(B) Rs. 50,000

(C) Rs. 1 lac

(D) Rs. 10 lacs

3. The regulator for Mutual Funds in India is?

(A) FIMMDA

(B) AMFI     

(C) RBI

(D) SEBI

4. Banking Regulation Act, 1949, does not at all apply to

(A) nationalized banks

(B) State bank of India and its subsidiaries

(C) foreign banks having branches in India

(D) Primary agricultural credit societies and co-operative land mortgage banks

5. In terms of Reserve Bank of India (RBI) guidelines, Banks in India must pay a minimum interest on the balances held in Saving bank account at ________?

(A) 4%    

(B) 3.50% 

(C) 5%  

(D) 6%

6.Bank holidays under Section 25 of the Negotiable Instruments Act, 1881 are declared by:

(A) State Government for the respective State

(B) Banking Operations Department

(C) Central Government

(D) RBI

7. A Co-Operative Bank operating in different States is regulated by _______?

(A) State Co-Operative Societies Act

(B) Banking Regulation Act

(C) Multi Unit Co-Operative Societies Act

(D) Banking Laws (applicable to Co-Operative Societies)

8. Kisan Credit Cards (KCC) Scheme was formulated in the year:

(A) 1996

(B) 1997

(C) 1998-99

(D) 2000

9. KYC means ________ ?

(A) Know Your Customer very well

(B) Know Your exiting Customer very well

(C) Know Your prospective Customer very well

(D) Satisfy yourselves about the customer’s identity and activities

10. Which of the following types of ATMs eliminates the need for PIN entry and authenticated customer transactions by thumb impressions:

(A) White Label ATMs

(B) Biometric ATMs

(C) On-site ATMs

(D) Off-site ATMs

Attempt above Quiz to check the right answers. 

Check more Useful Banking Questions  

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