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WorksheetsModule A PPB Unit 15- Ancillary Services
Total questions: 48
Worksheet time: 36mins
Name
Class
Date
1.
What does the term "Remittance" refer to?
a)
Transfer of goods
b)
Transfer of services
c)
Transfer of funds
d)
Transfer of documents
e)
Transfer of technology
2.
Which of the following is NOT a method of remittance?
a)
Telegraphic Transfer (TT)
b)
Mail Transfer (MT)
c)
National electronic funds transfer (NEFT)
d)
Demand Draft (DD)
e)
Real Time Gross Settlement (RTGS)
3.
What is the validity period of a Demand Draft (DD)?
a)
1 month
b)
2 months
c)
3 months
d)
6 months
e)
1 year
4.
What is the primary difference between a Banker's Cheque and a Demand Draft (DD)?
a)
DD requires "A/c payee" crossing
b)
Banker's Cheque is issued for international remittance
c)
Banker's Cheque cannot be cleared in any branch
d)
DD cannot be used for internal remittance
e)
Banker's Cheque has a validity of 6 months
5.
Which of the following information is required for a Telegraphic Transfer?
a)
Name of the remitter
b)
Amount of remittance
c)
Beneficiary bank's SWIFT code
d)
Purpose of transfer
e)
Remittance currency
6.
Which settlement system operates in real-time batches?
a)
NEFT
b)
RTGS
c)
IMPS
d)
Both NEFT and RTGS
e)
Both RTGS and IMPS
7.
What is the minimum transfer limit for NEFT?
a)
Re.1
b)
Rs.1,000
c)
Rs.50,000
d)
Rs.1 lakh
e)
Rs.2 lakh
8.
In which year did mobile banking begin in India?
a)
2000
b)
2002
c)
2010
d)
2018
e)
2020
9.
What is Electronic Benefit Transfer (EBT) primarily aimed at?
a)
International remittances
b)
Corporate transactions
c)
Direct Benefit Transfer (DBT)
d)
Cash withdrawals
e)
Interbank transfers
10.
What type of relationship exists between a bank and the hirer of a safe deposit locker?
a)
Creditor and debtor
b)
Lessor and lessee
c)
Buyer and seller
d)
Mortgagor and mortgagee
e)
Lender and borrower
11.
According to RBI guidelines, what must banks do before providing a locker facility?
a)
Charge a security deposit
b)
Verify customer's email address
c)
Conduct KYC checks
d)
Require a credit history report
e)
Conduct a background check
12.
What is the primary purpose of portfolio management?
a)
Maximizing risks
b)
Minimizing returns
c)
Maximizing returns
d)
Minimizing risks
e)
Balancing risks and returns
13.
What does a "Zero Investment Portfolio" typically consist of?
a)
Stocks and shares
b)
Mutual funds and bonds
c)
Only cash
d)
Cash and bonds
e)
Only stocks
14.
What is the primary role of a merchant banking firm?
a)
Manufacturing products
b)
Providing legal services
c)
Providing advisory services
d)
Offering retail banking services
e)
Trading in commodities
15.
Which government business involves the collection of taxes?
a)
Social welfare programs
b)
Treasury work
c)
Pension distribution
d)
Excise and Customs collection
e)
Health and family welfare accounts
16.
What is the primary objective of portfolio management?
a)
Maximizing risks
b)
Minimizing returns
c)
Maximizing returns
d)
Minimizing risks
e)
Balancing risks and returns
17.
Which type of portfolio consists of only cash holdings?
a)
Aggressive portfolio
b)
Conservative portfolio
c)
Zero Investment portfolio
d)
Balanced portfolio
e)
Market portfolio
18.
What services do merchant banking firms typically offer?
a)
Legal services only
b)
Financial advice only
c)
Management consulting only
d)
A range of services including financial, legal, and advisory
e)
Customer support services
19.
Which government business activity involves the collection of direct and indirect taxes?
a)
Collection of railway station revenues
b)
Opening of Post Office Receipts accounts
c)
Collection of Central Excise and Customs
d)
Opening of Public Provident Fund Accounts
e)
Collection of relief bonds
20.
What does EBT stand for in the context of banking?
a)
Electronic Benefit Transfer
b)
Efficient Banking Techniques
c)
Easy Banking Transactions
d)
Effective Business Transition
e)
Essential Banking Training
21.
What type of accounts are exclusively opened for the purpose of Public Provident Fund (PPF) in government business?
a)
Savings accounts
b)
Fixed deposit accounts
c)
Current accounts
d)
Recurring deposit accounts
e)
PPF accounts
22.
What does RTGS stand for in the context of fund transfers?
a)
Real Time General Settlement
b)
Real Time Gross Settlement
c)
Regular Transfer of Goods and Services
d)
Rapid Transaction and General Services
e)
Reliable Technology for Global Settlement
23.
In which scenario might a bank notify the locker hirer to operate the locker or surrender it?
a)
If the locker is accessed frequently
b)
If the locker remains inoperative for an extended period
c)
If the bank needs additional locker space
d)
If the bank's policies change
e)
If the locker rent is overdue
24.
What is the primary purpose of the Electronic Benefit Transfer (EBT) scheme?
a)
To provide discounts on banking services
b)
To transfer subsidies and cash benefits directly to people
c)
To offer special benefits to senior citizens
d)
To encourage electronic payments for retail purchases
e)
To facilitate international fund transfers
25.
What is the key role of a mobile banking application?
a)
To eliminate the need for bank visits
b)
To promote paper-based transactions
c)
To provide investment advice
d)
To offer physical banking services
e)
To replace online banking platforms
26.
What is the primary purpose of a remittance?
a)
Transfer of goods
b)
Transfer of services
c)
Transfer of funds
d)
Transfer of documents
e)
Transfer of technology
27.
What is the special feature of all banker's cheques?
a)
"NOT NEGOTIABLE" pre-printed
b)
"CROSS" marked
c)
"A/c payee" crossing
d)
"CERTIFIED" stamped
e)
"CONFIDENTIAL" written
28.
What is the minimum transfer limit for RTGS?
a)
Re.1
b)
Rs.10,000
c)
Rs.1 lakh
d)
Rs.2 lakh
e)
Rs.5 lakh
29.
What is the primary information required for a Telegraphic Transfer?
a)
Name of the beneficiary
b)
Remitter's email address
c)
Payment currency
d)
Account balance of beneficiary
e)
Purpose of the transfer
30.
What is the primary function of a safe deposit locker?
a)
Earning interest on deposits
b)
Keeping valuables and documents
c)
Facilitating international transfers
d)
Providing credit services
e)
Issuing demand drafts
31.
What is the minimum period for which funds are usually placed by clients in Portfolio Management Services (PMS)?
a)
6 months
b)
1 year
c)
2 years
d)
3 years
e)
5 years
32.
What does EBT stand for in the context of financial services?
a)
Exclusive Banking Tools
b)
Enhanced Benefit Transfer
c)
Essential Business Transactions
d)
Electronic Banking Technology
e)
Electronic Benefit Transfer
33.
What is the role of a merchant banking firm in the business world?
a)
Providing banking services to individuals
b)
Offering legal and taxation advice
c)
Managing government accounts
d)
Assisting businesses with various financial aspects
e)
Facilitating interbank transactions
34.
Which government business activity involves the collection of railway station revenues?
a)
Collection of Central Excise and Customs
b)
Opening of Post Office Savings Accounts
c)
Collection of Direct Taxes
d)
Opening of Public Provident Fund Accounts
e)
Collection of State Excise duties
35.
Which of the following methods is NOT used for remitting funds from one center to another?
a)
Demand Draft (DD)
b)
Mail Transfer (MT)
c)
Telegraphic Transfer (TT)
d)
Real Time Gross Settlement (RTGS)
e)
National Electronic Funds Transfer (NEFT)
36.
What is the primary function of Telegraphic Transfer (TT)?
a)
Issuing loans to customers
b)
Transferring funds via cable services
c)
Providing financial advice
d)
Managing international trade
e)
Processing tax payments
37.
Which of the following is NOT an essential piece of information required for Telegraphic Transfer?
a)
Beneficiary's bank SWIFT code
b)
Payment currency
c)
Amount to be remitted
d)
Remitter's favorite color
e)
Beneficiary's account number
38.
Which system allows for the real-time settlement of large-value transactions?
a)
NEFT
b)
RTGS
c)
IMPS
d)
MT
e)
DD
39.
What was the main purpose of the "Direct Benefit Transfer" (DBT) program under the EBT scheme?
a)
Providing financial services to corporate clients
b)
Transfer of subsidies and cash benefits to individuals
c)
Facilitating international remittances
d)
Managing pension funds
e)
Offering tax refunds
40.
What is the primary advantage of mobile banking over traditional banking methods?
a)
Higher interest rates
b)
Faster loan approvals
c)
Convenience and ease of access
d)
Availability of physical branches
e)
Better investment options
41.
What kind of accounts are opened under the "Deposit Scheme for DSRGE and DSREPSC" as mentioned in the text?
a)
Retirement accounts
b)
Savings accounts
c)
Current accounts
d)
Education savings accounts
e)
Investment accounts
42.
What is the key role of merchant banking in assisting businesses?
a)
Providing medical services
b)
Managing real estate assets
c)
Advising on legal matters
d)
Helping with fund raising and expansion
e)
Facilitating import and export transactions
43.
What does the "Portfolio Management Scheme" (PMS) provided by banks primarily involve?
a)
Guaranteed returns on investment
b)
Risk-free investment strategies
c)
Management of an individual's investments
d)
Offering tax-free income
e)
Providing financial education
44.
What is the significance of a "Nominee" in the context of locker facilities?
a)
An extra key holder for the locker
b)
A bank representative assigned to lockers
c)
A person designated to access locker contents
d)
A witness for locker transactions
e)
A locksmith for locker repairs
45.
What is the primary purpose of merchant banking in terms of starting and managing businesses?
a)
Assisting with legal matters
b)
Providing tax consultation
c)
Managing customer relationships
d)
Supporting financial operations
e)
Offering marketing services
46.
What is the primary responsibility of banks in Government Business activities?
a)
Managing tax collection only
b)
Handling Treasury Work
c)
Providing foreign exchange services
d)
Managing postal services
e)
Assisting with public health programs
47.
What is the main focus of portfolio management when it comes to managing an individual's investments?
a)
Maximizing risk exposure
b)
Minimizing returns
c)
Providing immediate returns
d)
Balancing risk and return
e)
Eliminating all risks
48.
What is the significance of "Portfolio Management Scheme" in the context of RBI guidelines?
a)
It guarantees high returns on investments
b)
It focuses on short-term investments only
c)
It allows investments in foreign currency
d)
It aims to provide advisory services only
e)
It manages long-term investible funds
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