Q21. 'Bear' and 'Bull' are terms associated with which sector? A) Banking B) Agriculture C) Stock Market D) Insurance Answer: C) Stock Market Explanation: In the Stock Market, a 'Bull' market represents rising prices, while a 'Bear' market represents falling prices of shares. <script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-1427844614826354" crossorigin="anonymous"></script> <ins class="adsbygoogle" style="display:block; text-align:center;" data-ad-layout="in-article" data-ad-format="fluid" data-ad-client="ca-pub-1427844614826354" data-ad-slot="2973241135"></ins> <script> (adsbygoogle = window.adsbygoogle || []).push({}); </script> Q22. Which of the following loans usually has the lowest interest rate? A) Personal Loan B) Credit Card Loan C) Home Loan D) Busi...
Q21. 'Bear' and 'Bull' are terms associated with which sector?
A) Banking
B) Agriculture
C) Stock Market
D) Insurance
Answer: C) Stock Market
Explanation: In the Stock Market, a 'Bull' market represents rising prices, while a 'Bear' market represents falling prices of shares.
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Q22. Which of the following loans usually has the lowest interest rate?
A) Personal Loan
B) Credit Card Loan
C) Home Loan
D) Business Loan
Answer: C) Home Loan
Explanation: Home Loans are secured loans (backed by property), so they generally offer lower interest rates compared to unsecured loans like Personal Loans.
Q23. The 'Ombudsman' scheme in banking is introduced for:
A) Providing loans to poor
B) Resolving customer complaints
C) Opening new branches
D) Recruiting staff
Answer: B) Resolving customer complaints
Explanation: The Banking Ombudsman is a senior official appointed by the RBI to redress customer complaints against deficiency in certain banking services.
Q24. What is the lock-in period for a Tax-Saving Fixed Deposit (FD)?
A) 1 Year
B) 3 Years
C) 5 Years
D) 10 Years
Answer: C) 5 Years
Explanation: To claim tax deduction under Section 80C, one must invest in a Tax-Saving Fixed Deposit which has a mandatory lock-in period of 5 years.
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Q25. In banking, what does 'CVV' stand for (found on the back of debit/credit cards)?
A) Card Verification Value
B) Customer Verification Value
C) Card Validation Variance
D) Central Virtual Value
Answer: A) Card Verification Value
Explanation: The CVV is a security feature for "card not present" transactions (like online shopping) to prevent Credit Card fraud.
Q26. Who signs the One Rupee currency note in India?
A) RBI Governor
B) Finance Minister
C) Finance Secretary
D) Prime Minister
Answer: C) Finance Secretary
Explanation: While all other currency notes are signed by the RBI Governor, the One Rupee note bears the signature of the Finance Secretary of India.
Q27. 'Mortgage' is a security on:
A) Movable Property (like Gold)
B) Immovable Property (like House/Land)
C) Fixed Deposits
D) Shares
Answer: B) Immovable Property (like House/Land)
Explanation: A Mortgage Loan is a loan secured by real estate property, such as a house or a piece of land.
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Q28. Which document is NOT valid for 'Address Proof' in opening a bank account?
A) Aadhaar Card
B) Voter ID
C) PAN Card
D) Electricity Bill
Answer: C) PAN Card
Explanation: A PAN Card is a proof of identity and age, but it does not contain the address, so it cannot be used as Address Proof for KYC.
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Q29. What is 'Bitcoin'?
A) A digital currency (Cryptocurrency)
B) A type of Credit Card
C) A new bank in India
D) A stock exchange
Answer: A) A digital currency (Cryptocurrency)
Explanation: Bitcoin is a decentralized digital currency, also known as Cryptocurrency, which operates without a central bank.
Q30. Under 'Pradhan Mantri Mudra Yojana', loans are provided for:
A) Home Construction
B) Small Business/Micro Units
C) Higher Education
D) Buying Luxury Cars
Answer: B) Small Business/Micro Units
Explanation: The Mudra Loan scheme provides financial support to non-corporate, non-farm small/micro enterprises for income-generating activities.