MCQ Questions on Social Science

A person can withdraw money from a bank by issuing a cheque. What is a cheque?

• Loan taken by the bank.

• Loan taken by the depositor from the bank.

• Paper instructing the bank to pay a specific amount.

• Paper valid to withdraw money

Banks give out loans and charge .......... on the loan amount from the borrower.

• rent

• wages

• interest

• money

All the banks act as mediator between ---------------and

• rural people, urban people

• literates, illiterates

• people, government

• depositors, borrowers

Which of the following is not a feature of Self Help Groups (SHGs)?

• It consists of 15-20 members or more.

• Here members pool their savings which acts as collateral.

• Loans are given at nominal rate of interest.

• It is an informal source of credit.

Organised credit is also called

• informal credit

• formal credit

• cooperative credit

• none of these

Which one of the following is not a formal source of credit?

• Commercial Banks

• State Bank of India

• Employers

• Co-operatives

All the banks act as mediator between and ……........... .

• rural people, urban people

• literates, illiterates

• people, government

• depositors, borrowers

Which one of the following is the appropriate meaning of collateral?

• It is the sum total of money borrowed from banks.

• The amount borrowed from friends.

• It is an asset of the borrower used as guarantee to a lender.

• The amount invested in a business.

Which of the following is not an advantage of self-help group?

• Grant of timely loans

• Reasonable interests

• A platform to discuss various issues

• Does not help women to become self-reliant.

Which one of the following is a major reason that prevents the poor from getting loans from the banks?

• Lack of capital

• Not affordable due to high rate of interest

• Absence of collateral security

• Absence of mediators