The consequences of errors in computerised systems are more serious than in manual systems because ……
a. Computer systems process more data
b. Errors in computer systems are generated at high speed, and the cost to correct may be high
c. Users of computer systems perceive the computer outputs to be always correct
d. All of above
Ans – d
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Compared to a manual system, in a computer system ……
a. The methodologies for implementing controls change
b. Basic controls objectives change
c. Control objectives are more difficult to achieve
d. All of above
Ans – d
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Which of the following statements are not correct? (i) In India, foreign exchange regulations are administered by Reserve Bank of India, (ii) Reserve Bank of India maintains the external value of rupee, (iii) Reserve Bank of India does not deal in foreign exchange directly with the public
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – a
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As regards deposit insurance which of the following statement/s is/are True? (i) insurance cover for deposits (demand and term) upto Rs.1,00,000.00 is available, (ii) insurance cover is provided by general insurance companies, (iii) insurance premium is to be paid semi annually by the bank and not customer/s.
a. i and iii
b. ii
c. ii and iii
d. iii
Ans – a
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State which of the following statement/s is/are True? (i) open ended schemes are offered by mutual funds, (ii) banks cannot setup mutual funds, without RBI’s permission, (iii) bank branches used as a distribution channel for insurance products is called bancassurance.
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – d
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One of the key area of Asset Liability Mangement of banks is the interest management. Banks analyse interest trends based on ……
a. gap analysis
b. value at risk
c. duration analysis
d. All of the above
Ans – d
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Provisions of SRFAESI Act,2002 is not applicable to ……
a. a pledge of movables as per Sec 172 of Indian Contract Act
b. any interest for repayment (upto Rs one lakh for secured loans and upto Rs ten lakhs for unsecured loans
c. any one of a or b
d. both a and b
Ans – d
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Securitisation is the process of acquisition of loans classified as ……
a. standard assets
b. book debts
c. non performing assets
d. any one of the above
Ans – c
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What is a Demat a/c ?
a. acronym for Demat is dematerialization of shares
b. dematerialization is a paperless book entry form of shares
c. demat accounts can be opened by banks
d. all of the above
Ans – d
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In periods of boom, which leads to economic instability Reserve Bank does not resort to (i)
Selling of first class securities in its precession in the market, to reduce the supply of money as a measure of open market operations, (ii) Bying of approved securities in the market as a measure of open market operations, (iii) Increasing the bank rate as a measure of open market operations
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – d
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What are the powers of Reserve Bank of India for conducting scrutiny of a Bank? (i) The RBI is empowered to conduct scrutiny of affairs of a Bank in addition to regular inspection, (ii) The scrutiny officer has the same powers as the inspecting officer of RBI, (iii) A copy of the scrutiny report would be produced to the Bank
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – d
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