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1) The SARFAESI Act was framed to address the problem of Non-Performing Assets. What does two ‘S’ in ‘SARFAESI’ stand for?
a) Section, Social
b) Shrinkage, Share
c) Surplus, Solvency
d) Securitization, Security
- e) Systematic, Sublease
2) Live testing of new products or services in a controlled/test regulatory environment for which regulators may (or may not) permit certain regulatory relaxations for the limited purpose of the testing is known as ________.
a) Statutory Testing (ST)
b) FinTech Software (FS)
c) User Acceptance Testing (UAT)
d) Regulatory Sandbox (RS)
e) Scrum Testing (ST)
3) In ___________ the parties to the contract exchange the principal of two different currencies immediately, so that each party has the use of the different currency.
a) Currency transfer
b) Currency exchange
c) Currency swap
d) Currency deal
e) None of these
4) ‘Human Development Report’ is published by which of the following?
a) United Nations Children’s’ Fund (UNICEF)
b) United Nations Development Programme (UNDP)
c) United Nations Educational Scientific and Cultural Organization (UNESCO)
d) United Nations Population Fund (UNFPA)
e) United Nations Conference on Trade and Development (UNCTAD)
5) Feroz Shah Kotla cricket stadium will be renamed as ‘Arun Jaitley Stadium’. It is located in which Indian city?
6) How many countries are there in BIMSTEC?
7) Where is headquarter of North Atlantic Treaty Organization located?
a) Geneva, Switzerland
b) Paris, Switzerland
c) Dubai, UAE
d) Brussels, Belgium
e) Zurich Switzerland
8) What does “Overdraft” mean in Banking?
a) Minimum bank balance required for continuation of account.
b) Maximum Loan limit.
c) Minimum Deposit needed to open the account.
d) The account holder may withdraw more money than its deposit.
e) Minimum capital to start a company
9) A ______ is a forum where precious metals such as gold, silver, platinum and palladium can be bought and sold.
a) Gold market
b) Hedge market
c) Bullion market
d) Precious metal market
e) Commercial market
10) Gorumara National Park is located in which Indian state?
b) Andhra Pradesh
c) West Bengal
1) Answer: D
The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 is a legislation that helps financial institutions to ensure asset quality in multiple ways. This means that the Act was framed to address the problem of NPAs (Non-Performing Assets) or bad assets through different processes and mechanisms.
2) Answer: D
A Regulatory Sandbox (RS) usually refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may (or may not) permit certain regulatory relaxations for the limited purpose of the testing.
3) Answer: C
In a currency swap, the parties to the contract exchange the principal of two different currencies immediately, so that each party has the use of the different currency. They also make interest payments to each other on the principal during the contract term. In many cases, one of the parties pays a fixed interest rate and the other pays a floating interest rate, but both could pay fixed or floating rates. When the contract ends, the parties re-exchange the principal amount of the swap. Originally, currency swaps were used to give each party access to enough foreign currency to make purchases in foreign markets. Increasingly, parties arrange currency swaps as a way to enter new capital markets or to provide predictable revenue streams in another currency.
4) Answer: B
Human Development Report is published by United Nations Development Programme (UNDP). The United Nations Development Programme (UNDP) is the United Nations’ global development network. UNDP is headquartered in New York City. UNDP advocates for change and connects countries to knowledge, experience and resources to help people build a better life. It provides expert advice, training and grants support to developing countries, with increasing emphasis on assistance to the least developed countries.
5) Answer: A
The Delhi and District Cricket Association (DDCA) has decided to rename the Feroz Shah Kotla Stadium in Delhi as Arun Jaitley Stadium in the memory of the cricket body’s former president who passed away on August 24, 2019.
6) Answer: B
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international Organisation of seven nations of South Asia and South East Asia. The BIMSTEC member states viz. Bangladesh, India, Myanmar, Sri Lanka, Thailand, Nepal and Bhutan are among the countries dependent on the Bay of Bengal.
7) Answer: D
The Headquarter of North Atlantic Treaty Organization (NATO) is located at Brussels, Belgium.
8) Answer: D
Overdraft means the act of withdrawing more money from bank account than it has deposited in it.
9) Answer: C
A bullion market is a place where precious metals such as gold, silver, platinum and palladium can be bought and sold. Price depends on supply and demand. These two factors drive the underlying price which is then adjusted upwards or downwards depending on the form of the precious metal. Modern bullion markets allow small, individual investors all the way up large institutions to easily buy and sell precious metals.
10) Answer: C
Gorumara National Park is a National Park in northern West Bengal, India. It is primarily known for its population of Indian rhinoceros.