Social Science Notes

100 MOST IMPORTANT BANKING AWARENESS QUESTIONS BY KASHMIR STUDENT Part 2

100 Most Important Banking Awareness Questions by Kashmir Student

Questions mostly asked in IBPS Banking Exams like JKBank Probationary Officer & Banking Associate Exams

Part 2


50). A summary of an applicant's credit history for insurance, loans, credit, etc., made by an independent organization that has investigated the applicants credit standing is called 

- Credit Report


51). In insurance, the amount of benefit an insurance policy will pay in the absence of loans against the policy is called as 

- Face Amount 

Explanation: Face Amount - In insurance, the amount of benefit an insurance policy will pay in the absence of loans against the policy. Also known as the principal sum, or benefit amount. 


52). Insurance that provides coverage for a group of persons, usually employees of a company, under one master contract is called 

- Group Insurance


53). A person or company that underwrites an insurance risk; the party in an insurance contract undertaking to pay compensation is called 

- Insurer 

Explanation: Insurer - Party that provides insurance coverage, typically through a contract of insurance


54). Whole life insurance for which the entire premium is paid in one sum at the beginning of the contract period is called 

- Single-Premium Whole Life Insurance


55). In insurance, Process of assigning people to different risk classes is called

- Underwriting 

Explanation: Underwriting - Process of assigning people to different risk classes. Insurance companies use underwriting to determine whether, and on what basis, an insurance policy will be issued.


56). In BAP, “A” stands for 

- Auto 

Explanation: BAP - Business Auto Policy


57). In BOP, “B” stands for 

-Business 

Explanation: BOP - Business Owners Policy


58). In EAP, “E” stands for 

- Estimated 

Explanation: EAP - Estimated Annual Premium


59). In EPL, “L” stands for 

-Liability 

Explanation: EPL - Employment Practices Liability

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60). In GAP, “P” stands for 

- Protection 

Explanation: GAP - Guaranteed Auto Protection


61). In GWP, “W” stands for 

- Written 

Explanation: GWP - Gross Written Premium


62). In HPR, “R” stands for 

- Risk 

Explanation: HPR - Highly Protected Risk


63). IN LTD, “D stands for 

- Disability

Explanation: LTD - Long-Term Disability


64). In MET, “M” stands for 

- Multiple 

Explanation: MET - Multiple Employer Trust


65). In STD, “S” stands for 

- Short 

Explanation: STD - Short-Term Disability


66). FAP stands for 

-Family Automobile Policy (FAP)


67). PIA stands for 

- Primary Insurance Account (PIA)


68). FIRM stands for 

- Flood Insurance Rate Map (FIRM)


69). UNL stands for 

- Ultimate Net Loss (UNL)


70). YRT stands for 

- Yearly Renewable Term (YRT)


71). Reserve Bank of India was established under the recommendations of 

- Hilton Young Commission 

Explanation:Reserve Bank of India was established under the recommendations of the “Hilton Young Commission” also known as “Royal Commission on Indian Currency and Finance”


72). Reserve Bank of India was established under the 

- Reserve Bank of India Act of 1934 

Explanation: Reserve Bank of India was established under the Reserve Bank of India Act of 1934 as the banker to the central government.


73). Reserve Bank of India launched its operations from 

- 1935 

Explanation: Reserve Bank of India launched its operations from April 1, 1935


74). Reserve Bank of India launched its operations from headquarters 

-Kolkata 

Explanation: Reserve Bank of India launched its operations from headquarters were in Kolkata in the beginning. 


75). Reserve Bank of India head quarters was shifted to ShahidBhagat Singh Marg, Mumbai in 

- 1937


76). Reserve Bank of India was nationalized on 

- 1 April 1948


77). Reserve Bank of India acted as central banking institute for Mynmar till 

- 1948


78). Reserve Bank of India acted as central banking institute for Pakistan till 

- 1947


79). Who was the first Governor of Reserve Bank of India 

- Osborne Smith


80). C. D. Deshmukh was the _______governor of Reserve Bank of India 

- Third 

Explanation: C. D. Deshmukh was the third Reserve Bank of India governor and the first Indian to hold the post.


81). The Reserve Bank”s affairs are governed by a central board of directors. The board is appointed by the Government of India for a period of 

-4 year


82). Reserve Bank of India Board consists of a Governor, and not more than ___ Deputy Governors 

- 4


83). Reserve Bank of India started with a Share Capital of _________ on 1935 

- Rs. 5 Crore


84). Reserve Bank of India is an _________ body 

- Autonomous 

Explanation: Reserve Bank of India is an autonomous body and government of India allows to act autonomously


85). Reserve Bank of India Accounting year from 

- July - June 

Explanation: Reserve Bank of India Accounting year: July - June


86). What is the Central Bank of Turkey 

- Central Bank of the Republic of Turkey 

Explanation: Turkey - Central Bank of the Republic of Turkey; Head quarters - Ankara


87). What is the Central Bank of Singapore 

- Monetary Authority of Singapore 

Explanation:Singapore - Monetary Authority of Singapore; Head quarters -Singapore


88). What is the Central Bank of Trinidad and Tobago 

- Central Bank of Trinidad and Tobago 

Explanation:Trinidad and Tobago - Central Bank of Trinidad and Tobago; Headquarters – Port of Spain


89). What is the Central Bank of Spain 

- Bank of Spain 

Explanation:Spain – Bank of Spain; Headquarters - Madrid


90). What is the Central Bank of Uganda 

- Bank of Uganda 

Explanation: Uganda - Bank of Uganda; Head quarters - Kampala


91). What is the Central Bank of Sweden 

- Sveriges Riksbank 

Explanation: Sweden – Sveriges Riksbank; Head quarters - Stockholm


92). What is the Central Bank of Tajikistan

National Bank of the Republic of Tajikistan 

Explanation: Tajikistan - National Bank of the Republic of Tajikistan; Head quarters -Dushanbe


93). What is the Central Bank of Romania 

- National Bank of Romania 

Explanation: Romania - National Bank of Romania; Head quarters - Romania


94). What is the Central Bank of Netherlands 

-De Nederlandsche Bank 

Explanation: Netherlands - De Nederlandsche Bank; Head quarters -Amsterdam


95). What is the Central Bank of Saudi Arabia 

- Saudi Arabian Monetary Agency 

Explanation: Saudi Arabia - Saudi Arabian Monetary Agency; Head quarters - Riyadh


96). What is the Central Bank of Peru 

- Central Reserve Bank of Peru 

Explanation: Peru - Central Reserve Bank of Peru; Head quarters - Lima


97). What is the Central Bank of Kazakhstan 

- National Bank of Kazakhstan 

Explanation: Kazakhstan - National Bank of Kazakhstan; Head quarters - Almaty


98). What is the Central Bank of Papua New Guinea 

- Bank of Papua New Guinea 

Explanation:Papua New Guinea - Bank of Papua New Guinea; Head quarters – Port Moresby


99). What is the Central Bank of Kyrgyzstan –

National Bank of the Kyrgyz Republic 

Explanation: Kyrgyzstan - National Bank of the Kyrgyz Republic; Head quarters –Bishkek


100). What is the Central Bank ofCzech Republic - Czech National Bank 

Explanation: Czech Republic - Czech National Bank; Head quarters -Czechia


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