SBI CBO Mock Test - 2 - Bank Exams MCQ

Solution:

• The passage suggests that Americans generally supported the development of the railroad.
• Railroad promoters, like Henry Varnum Poor, used the railroad as a metaphor for American progress and character.
• Promoters and writers referred to locomotives as "iron horses" to make them less intimidating and more relatable.
• Ralph Waldo Emerson viewed the railroad as a force for domestic harmony, helping to unify the country.

The passage focuses on the early railroads and their link to the American character of the time. Here's a refined explanation:

• Henry Varnum Poor used railroads as a metaphor for American progress, highlighting their speed and power.
• In the 19th century, Americans saw railroads as symbols of national character and progress.
• Railroad promoters likened locomotives to American traits—youth, power, and ambition.
• Despite the excitement, some feared the railroads, viewing them as dangerous and unknown.
• Iron horse metaphors were used to make the technology more relatable and less threatening.
• Ralph Waldo Emerson saw railroads as unifying forces that helped bind the nation together.

The passage suggests that Ralph Waldo Emerson believed technological progress would help unify Americans.

• He saw the locomotive as an agent of domestic harmony.
• Emerson noted that the locomotive and steamboat connected various parts of America.
• He believed these technologies helped assimilate diverse groups, preventing local hostilities.
• Emerson viewed this technological advancement as a political aid for maintaining national unity.

The correct order will be:
Then → it struck me (P)→ how eminently (S)→ suitable it was(R) → of course.(Q)

A "knot" is something that you tie,
so to open it would be "untie".

The word “felicitate” in the third sentence is used as a verb. But, the word that describes a noun “contacts”, must be an adjective.

The word used must be "felicitated".

The answer is Option C.

The correct order will be:
I read an advertisement that said → posh, air-conditioned (P)→ fully furnished rooms (S)→ are available for (R)→ gentleman of taste.(Q)

"those who owned anything probably would have given it up gladly in order to save themselves" controls the first blank—hence property, or territory may fit the blank. "Atheists" eliminates option 3. If the Nazis did not exterminate them for what they own—the writer rules out this reason because most Jews probably had nothing, hence poor fits the next blank.

The correct answer is C: In my opinion.

The sentence is in the past tense, indicated by the verb "to be." The correct form of "to be" in the past tense for "he" is "was." Additionally, the continuous form of the verb ("being") is needed to describe an ongoing action in the past. Therefore, the correct phrase is "was being." The sentence should read, "He was being positively rude."

has paid

The blank is a reason of the ‘problem’ and hence it should be a negative word. This word should also be one that can be followed by the preposition ‘for’.

The word ‘disregard’ makes the sentence both grammatically and contextually correct.

Option D is hence the correct option

• The life insurance business commenced in India with the establishment of Oriental Life Insurance Company in Calcutta in 1818.
• The general insurance business came to India in the year 1850 in Calcutta as the Triton Insurance Company Limited.

Export-Import Bank of India is a finance institution in India, established in 1982 under Export-Import Bank of India Act 1981. Since its inception, Exim Bank of India has been both a catalyst and a key player in the promotion of cross border trade and investment. The main functions of EXIM are:

1. To ensure and integrated and co-ordinated approach in solving the allied problems encountered by exporters in India.
2. To pay specific attention to the exports of capital goods;
3. Export projection;
4. To facilitate and encourage joint ventures and export of technical services and international and merchant banking;
5. To extend buyers' credit and lines of credit;
6. To tap domestic and foreign markets for resources for undertaking development and financial activities in the export sector.
7. To provide term loans/deferred payment guarantees to 100% export‑oriented units, units in trade zones and computer software exporters.
8. To provide financial advice and counseling services for internationalisation of business of Indian companies which are foreign oriented.

A liquidity adjustment facility (LAF) is a tool used in monetary policy, primarily by the Reserve Bank of India (RBI), that allows banks to borrow money through repurchase agreements (repos) or for banks to make loans to the RBI through reverse repo agreements. This arrangement manages liquidity pressures and assures basic stability in the financial markets. In the United States, the Federal Reserve transacts repos and reverse repos under its open market operations.

Money and Capital market in India

• Capital market instruments are riskier both concerning returns and principal repayment.
• Issuing companies may fail to perform as per projections and promoters may defraud investors.
• On the other hand, the money market is generally much safer with a minimum risk of default. Hence, Statement 1 is correct.
• This is due to the shorter duration of investing and also to the financial soundness of the issuers, which primarily are the government, banks, and highly rated companies.
• Investment in the capital market i.e., securities do not necessarily require a huge financial outlay. Hence, Statement 2 is incorrect.
• The value of units of securities is generally low i.e., Rs 10, Rs 100. In the money market, transactions entail huge sums of money as the instruments are quite expensive. 
• Investment in capital markets generally yields a higher return for investors than the money markets. Hence, Statement 3 is correct.
• The possibility of earnings is higher if the securities are held for a longer duration.
• First, there is the scope of earning capital gains in equity shares.
• Second, in the long run, the prosperity of a company is shared by shareholders by way of high dividends and bonus issues. 

SEBI(Securities and Exchange Board of India)

• The mutual fund industry was set up in India in the year 1963 with the formation of Unit Trust of India(UTI), as the initiative of the Government of India and the Reserve bank of India.
• Mutual funds business is governed by the SEBI(Securities and Exchange Board of India) in India.

About SEBI:

• The Securities and Exchange Board of India was established on April 12, 1992, in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.
• Its headquarters is in Mumbai.
• Shri Ajay Tyagi is the current chairman of SEBI.

About RBI: 

• ​RBI was established on April 1, 1935, under the Reserve Bank of India Act,1934.
• Current Governor of RBI is  Shri Shaktikanta Das ( 25th )
• Sir Osborne Smith was the first governor of RBI and C.D Deshmukh was the first Indian governor of RBI.
• It operates the currency and credit system of the country.
• It is called the Bankers Bank of India.
• It formulates, implements, and monitors the monetary policy.
  

As per the RBI instructions in case of a failed ATM transaction, the card-issuing bank has been mandated to resolve the customer complaint

Anyonya Co-operative Bank Limited (ACBL) located in the city of Vadodara (formerly Baroda) in Gujarat, is the first co-operative bank in India. The Reserve Bank of India ordered the bank to stop most of its operations under Section 35 of the Banking Regulation Act, on 14 September 2007, and ACBL closed in March 2008. ACBL was established in 1889 under the name Anyonya Sahayakari Mandali Co-operative Bank Limited, with a primary objective of providing an alternative to exploitation by moneylenders for Baroda's residents

All the three statements hold true about Mutual Funds. Firstly, The entry of mutual funds into call money market as a lender has helped to stabilize the Interest rates in this highly volatile market. Secondly, In a depressed market, the Mutual Funds can steady the 'market' due to their absorbing capacity. Lastly,Mutual Funds help to channelize the saving in productive lines by providing the much-needed long-term finance to the industries for assets formation, modernization and expansion.

• Pension Fund Regulatory and Development Authority (PFRDA) is a pension regulator of India.
• It headquartered in New Delhi.
• It was established by the Government of India on 23rd August 2003
• Ami is to promote old age income security by establishing, developing and regulating pension funds.
• It administers and regulates National Pension System (NPS) and also administers Atal Pension Yojana (APY).
• Recently, in April 2020 amid pandemic, it allowed the NPS subscribers to partially withdraw for covering expenses related to the treatment of COVID-19.
• Chairperson: Supratim Bandyopadhyay (as of July 2021)

Payment systems transactions in India would comprise transactions processed and settled through (a) Paper Clearing [Magnetic Ink Character Recognition (MICR), Non-MICR, Cheque Truncation System (CTS), Express Cheque Clearing System (ECCS)]; (b)Bulk electronic transaction processing systems like Electronic Clearing Service (ECS), with its variants Regional ECS and National ECS; National Automated Clearing House (NACH) - Debit and Credit; (c) Card Payments(Debit, Credit, and Electronic); (d) Large Value [Real Time Gross Settlement Payment and Settlement Systems in India (RTGS)]; (e) Retail [National Electronic Funds Transfer (NEFT)]; (f) Fast Payments [Immediate Payment Service (IMPS), Unified Payments Interface(UPI)]; and (g) e-Money [Prepaid Payment Instrument (PPI) Cards and Wallets).

• The Asian South-East Nations Association(ASEAN) is a regional intergovernmental organization comprising 10 Southeast Asian countries, fostering intergovernmental cooperation and promoting economic, educational, political, security, military, and socio-cultural integration between its members and other Asian nations.
• ASEAN is an organization formed by the governments of Malaysia, Indonesia, the Philippines, Thailand, and Singapore in 1967 to promote economic growth, peace, security, social progress, and cultural development in the Southeast Asian region. 
• It was established on 8th August 1967 in Bangkok, Thailand with the signing of the Bangkok Declaration (ASEAN Declaration).
• ASEAN Members
  • Thailand (founding member)
  • The Philippines (founding member)
  • Malaysia (founding member)
  • Singapore (founding member)
  • Indonesia (founding member)
  • Brunei (joined in 1984)
  • Vietnam (joined in 1995)
  • Lao PDR (joined in 1997)
  • Myanmar (joined in 1997)
  • Cambodia (joined in 1999)
• It is headquartered in Jakarta, Indonesia.
• ASIAN MEMBERS
  

Only the first and the second statements are correct. If the National Housing Bank is of the opinion that it is necessary to do it in the public interest or in the interest of the housing finance institution or in the interest of the depositors of such institution, it may at any time by order, direct that a special audit of the accounts of the housing finance institution in relation to any such transaction or class of transactions or for such period or periods, as may be specified in the order, shall be conducted and the National Housing Bank may appoint an auditor or auditors to conduct such special audit and direct the auditor or the auditors to submit the report to it.

The need for financial inclusion can be observed in:

• Development – Greater access to financial services = Increase in savings + Decrease in income inequality & poverty + Increase in employment levels
•  Growth – It encourages the habit to save, thus enhancing capital formation in the country and giving it an economic boost. Also, the availability of sufficient and transparent credit from formal banking institutions will promote the entrepreneurial spirit among the people = increase in productivity and prosperity in rural areas.
• Service delivery – Direct cash transfers to beneficiary bank accounts rather than physical cash payments against the subsidy.

Money Market is divided into three types-Call Money, Term Money and Notice Money. 

Prime Minister Narendra Modi declared that December 26 shall henceforth be marked as 'Veer Baal Diwas' to pay homage to the courage of the 'Sahibzades', four sons of Guru Gobind Singh, the last Sikh guru. While all four were martyred, the date has been chosen as it was the day observed as the martyrdom day of the Sahibzadas Zorawar Singh and Fateh Singh.

The exchange of digital data between two or more reliable computers or data networks, also referred to as data communication or a telecommunication network, enables data transfer between sender and receiver.

An operating system (OS) is the program that controls all other application programs in a computer after being installed into the system first by a boot program.