banking, security market & insurance section 5 Practice Questions Answers Test with Solutions & More Shortcuts

Question : 1 [RBI 2017]

‘MobiKwik’ is the name of a

a) White Label ATM entity

b) Online shopping portal

c) Mobile wallet and online payment system

d) Brown Label ATM entity

Answer: (c)

MobiKwik is an Indian company founded in 2009 that provides a mobile phone based payment system and digital wallet.

Question : 2 [IDBI 2016- 2017]

The Indian Coins are minted at the four Indian Government Mints, which of the following is ‘not’ one of them?

a) India Government Mint, Noida (Uttar Pradesh)

b) India Government Mint, Hyderabad (Telangana)

c) India Government Mint, Nasik (Maharashtra)

d) India Government Mint, Kolkata (West Bengal)

Answer: (c)

The Government of India has the sole right to mint coins.

Coins are minted at the four India Government Mints at

  1. Mumbai, Alipore(Kolkata),
  2. Saifabad(Hyderabad),
  3. Cherlapally (Hyderabad) and
  4. Noida (UP).

Question : 3 [RBI 2016]

SMERA Limited, a popular body in the financial world, is a full service

a) Credit Information Bureau

b) Asset Management Company

c) Asset Financing Company

d) Credit Rating Agency

Answer: (d)

SMERA Ratings Limited is a full service Credit Rating Agency, registered with SEBI, and accredited by RBI as an External Credit Assessment Institution, for Bank Loan Ratings under BASEL-II norms.

Question : 4 [CDS-2013-II]

The value of money varies

a) directly with the volume of employment

b) directly with the price level

c) directly with the, interest rate

d) inversely with the price level

Answer: (d)

The variation in the value of money is always accompanied by the opposite variation in the price of commodities and services.

In brief, the value of money varies inversely with the price level. It is reciprocal of the price level.

Vm =1/p

(where Vm denotes the value of money and p stands for price level).

Question : 5 [RBI 2016]

The microfinance institutions (MFI) registered as Non-Banking Finance Companies (NBFC) are presently regulated by

a) MUDRA (SIDBI) Bank

b) Reserve Bank of India

c) SEBI

d) NABARD

Answer: (b)

Microfinance Institutions (MFIs) regulated by the Reserve Bank of India (RBI).

IMPORTANT indian economy mcq EXERCISES

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