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Central Bank Apprentice Mock Test - 1 - Bank Exams MCQ


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30 Questions MCQ Test - Central Bank Apprentice Mock Test - 1

Central Bank Apprentice Mock Test - 1 for Bank Exams 2024 is part of Bank Exams preparation. The Central Bank Apprentice Mock Test - 1 questions and answers have been prepared according to the Bank Exams exam syllabus.The Central Bank Apprentice Mock Test - 1 MCQs are made for Bank Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Central Bank Apprentice Mock Test - 1 below.
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Central Bank Apprentice Mock Test - 1 - Question 1
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Anil can complete a work in 50 days and Hari can destroy it in 100 days. If both of them are working together, in how many days will the work be completed?

Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 1


Hence, Option C is correct.

Central Bank Apprentice Mock Test - 1 - Question 2
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In how many ways 5 girls and 3 boys be seated in a row, so that no two boys are together?

Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 2

Number of Girls = 5
Number of Boys = 3 
Total ways in which 5 girls can be seated
⇒ 5P5 = 5 x 4 x 3 x 2 x 1 = 5! ways
The 5 girls are placed as shown below,

Here, 6 places are possible for boys such that no boys sit together.
So, the ways in which boys can sit.
⇒ 6P3
So, overall number of possible seating arrangements,
⇒ 5P5 x 6P3 = 5 x 4 x 3 x 2 x 1 x 6 x 5 x 4 
⇒ 5P5 x 6P3 =14400 ways
Thus, total required ways are 14400.
Hence, the correct option is 2.

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Central Bank Apprentice Mock Test - 1 - Question 3
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A cricket pitch is about 364 cm. In meters it is equal to

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Central Bank Apprentice Mock Test - 1 - Question 4
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Which answer figure will complete the pattern in the question figure?
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Central Bank Apprentice Mock Test - 1 - Question 5
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Find the number of triangles in the figure.
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 5

The figure shown the no. of triangle is in the diagram so that total no. of triangle is 8 + 8 + 8 + 4 = 28

Central Bank Apprentice Mock Test - 1 - Question 6
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Which of the following will replace the question mark (?) in the problem given below?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 6

[(Left number × Right number)/(Top number x Bottom number)]2 gives the number inside the circle.
[(9 × 4)/(6 × 6)]2 = 1

Central Bank Apprentice Mock Test - 1 - Question 7
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Direction: Read the following passages carefully and answer the question that follows.
When young, a little crab looks quits unlike its parents. As it grows older, it drops its outer converting time and again and grown into new one. With each new coat it comes to look more and more like its its parents, until finally it appears in a shell with its legs and claws just like its parents. When this stage is reached, it continues to drop its covering several times, but the change is seen in its size, not in its form. While the old shell is being made ready to come off, there is a new shell formatting over the flesh of the crab's underneath, but it is quits soft and flexible until the old one has been dropped.

Q. This story is mainly about ?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 7

This story is mainly about the way in which the crabs get bigger and become like their parents.

Central Bank Apprentice Mock Test - 1 - Question 8
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Direction: Read the following passages carefully and answer the question that follows.
When young, a little crab looks quits unlike its parents. As it grows older, it drops its outer converting time and again and grown into new one. With each new coat it comes to look more and more like its its parents, until finally it appears in a shell with its legs and claws just like its parents. When this stage is reached, it continues to drop its covering several times, but the change is seen in its size, not in its form. While the old shell is being made ready to come off, there is a new shell formatting over the flesh of the crab's underneath, but it is quits soft and flexible until the old one has been dropped.

Q.The form of a grown-up crab ?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 8

The form of a grown-up-crab is just like its parents. When young, it is quite unlike its parents but as it grows older it comes to look more and more like its parents.

Central Bank Apprentice Mock Test - 1 - Question 9
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In the context of normalization, what is a primary key?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 9
A primary key is a unique identifier for the records in a table. It ensures that each row within the table is uniquely identifiable. Primary keys are essential for establishing relationships between different tables in a relational database. They play a crucial role in maintaining data integrity and allowing efficient data retrieval operations.
Central Bank Apprentice Mock Test - 1 - Question 10
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Which secondary memory device is known for its portability, re-writability, and ease of carrying?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 10
A pen drive is known for its portability, re-writability, and ease of carrying. It is a small, removable storage device that connects to a computer via USB.
Central Bank Apprentice Mock Test - 1 - Question 11
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What is the primary function of a retail bank regarding the deposits it accepts from the public?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 11
The primary function of a retail bank is to accept deposit money from the public. This includes two main types of deposits: demand deposits and time deposits. Demand deposits are payable on demand and include savings and current account deposits, while time deposits are repaid to customers only after a specific time period, often in the form of fixed and recurring deposits.
Central Bank Apprentice Mock Test - 1 - Question 12
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How are bank accounts broadly categorized based on the balance they hold?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 12
Bank accounts are broadly categorized into deposit accounts and loan accounts based on the nature of the balance they hold. Accounts opened for holding credit balances are referred to as deposit accounts, while accounts opened for holding debit balances are referred to as loan accounts.
Central Bank Apprentice Mock Test - 1 - Question 13
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Which type of account is typically opened for the purpose of holding credit balances?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 13
A Savings Bank Account is typically opened for the purpose of holding credit balances. This type of account is commonly used for everyday banking needs and usually offers a modest interest rate on the deposited funds to help them grow over time.
Central Bank Apprentice Mock Test - 1 - Question 14
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What is a key characteristic that distinguishes Savings Accounts from Demand Accounts and makes them known as near money?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 14
Savings Accounts are often termed as near money because obtaining funds from them may not be as convenient as from a Demand Account. Unlike Demand Accounts where one can write cheques or use a debit card, accessing funds from a Savings Account may require visiting an ATM or bank branch. This distinction highlights the liquidity aspect of Savings Accounts and their slightly less immediate accessibility compared to Demand Accounts.
Central Bank Apprentice Mock Test - 1 - Question 15
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What is the core activity that is considered the most important function of a bank?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 15
The core activity that is considered the most important function of a bank is the acceptance of deposits. This function forms the foundation of banking operations and enables banks to hold money on behalf of customers, facilitating various financial activities such as lending and investing.
Central Bank Apprentice Mock Test - 1 - Question 16
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What is a mandatory requirement for opening a Savings Account related to the account holder's identity verification?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 16
One of the mandatory requirements for opening a Savings Account is providing either a Permanent Account Number (PAN) or General Index Register (GIR) number, or alternatively submitting a declaration in Form no.60 or 61 as per the Income Tax Act. This step ensures proper identification and compliance with regulatory norms. PAN or GIR numbers help in tracking financial transactions and tax obligations of the account holder.
Central Bank Apprentice Mock Test - 1 - Question 17
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What is the purpose of obtaining a specimen signature from a client while opening a Savings Account?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 17
Obtaining a specimen signature of the client while opening a Savings Account serves the purpose of facilitating verification during withdrawals. This signature acts as a reference point for the bank to ensure that the person making the withdrawal is authorized to access the funds in the account. It enhances security measures and helps prevent unauthorized transactions.
Central Bank Apprentice Mock Test - 1 - Question 18
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Why does a Savings Account holder receive interest on their minimum balance between specific dates, as prescribed by the RBI?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 18
Savings Account holders receive interest on their minimum balance between specific dates as prescribed by the RBI to incentivize maintaining a minimum balance in their accounts. This practice encourages customers to keep a certain amount in their accounts, ensuring liquidity for the bank while also providing a benefit to the account holder in the form of interest earnings.
Central Bank Apprentice Mock Test - 1 - Question 19
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Which type of clientele is required to submit a certified true copy of the IT returns of the last 2 years while opening a bank account?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 19

In the context of opening a bank account, Limited Companies are required to submit a certified true copy of the IT returns of the last 2 years. This requirement is essential for verifying the financial status and compliance of the company. Limited Companies need to provide various documents to fulfill the regulatory and due diligence requirements of financial institutions. This process ensures transparency and accountability in the business operations of the company.

Central Bank Apprentice Mock Test - 1 - Question 20
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What type of risk is described as the scenario where a customer fails to make a payment?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 20
Credit Risk is the type of risk where a customer fails to pay back the borrowed amount to the lender. This risk is a significant concern for banks and financial institutions, as it directly impacts their financial health and profitability. Managing credit risk involves assessing the creditworthiness of borrowers, setting credit limits, and implementing strategies to mitigate potential losses from defaults.
Central Bank Apprentice Mock Test - 1 - Question 21
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Which risk is associated with processing failures and frauds?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 21
Operations Risk is linked to processing failures and frauds within an organization. This risk category includes errors in transactions, system failures, compliance failures, and fraudulent activities that can disrupt business operations and lead to financial losses. Effective risk management practices and internal controls are essential to mitigate operational risks and ensure the smooth functioning of an organization.
Central Bank Apprentice Mock Test - 1 - Question 22
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What risk is defined by the possibility of losing money due to a wrong strategy?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 22
Business Risk refers to the potential of losing money or facing financial harm as a result of implementing an ineffective business strategy. This risk is inherent in any business operation and can arise from various factors such as competition, market conditions, regulatory changes, and internal inefficiencies. Managing business risk involves strategic planning, risk assessment, and proactive decision-making to minimize potential losses and maximize profitability.
Central Bank Apprentice Mock Test - 1 - Question 23
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Which risk is triggered by changes in market prices?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 23
Market Risk is influenced by fluctuations in market prices, including changes in interest rates, exchange rates, commodity prices, and stock prices. This risk impacts the value of financial instruments and investments, exposing individuals and organizations to potential losses. Managing market risk involves diversification, hedging strategies, and staying informed about market trends to mitigate the adverse effects of price volatility.
Central Bank Apprentice Mock Test - 1 - Question 24
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What does a credit score represent ?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 24

A credit score represents the amount of risk a consumer brings to a particular transaction. It is a 3-digit number derived from a consumer's credit report, indicating the level of risk the lender perceives in lending to that consumer. This score helps lenders assess the likelihood of the consumer repaying the borrowed amount on time.

Central Bank Apprentice Mock Test - 1 - Question 25
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What is a crucial determinant of an individual's credit score, emphasizing the importance of managing one's credit effectively?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 25
Credit utilization, which refers to how much of one's available credit is being used, plays a significant role in determining an individual's credit score. Effective management of credit utilization is essential for maintaining a good credit score and overall financial health. Keeping credit utilization low by using only a portion of the available credit limit demonstrates responsible financial behavior and can positively impact one's credit score over time.
Central Bank Apprentice Mock Test - 1 - Question 26
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What aspect of an individual's credit history significantly influences their credit score, particularly in terms of timely payments and outstanding balances?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 26
The history of payment defaults and payment behavior is a crucial factor that significantly influences an individual's credit score. Timely payments and responsible management of outstanding balances demonstrate financial reliability and play a key role in building and maintaining a good credit score. Consistently meeting payment obligations and avoiding defaults are essential for a positive credit history.
Central Bank Apprentice Mock Test - 1 - Question 27
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What is considered an excellent credit score across various banks in India, indicative of a lower risk of default and a higher level of creditworthiness?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 27
In the context of credit scoring in India, a credit score exceeding 800 is generally considered excellent across different banks. An excellent credit score indicates a lower risk of default and a higher level of creditworthiness, making individuals more likely to qualify for favorable loan terms and financial opportunities. Maintaining a credit score above 800 reflects strong financial discipline and responsible credit management.
Central Bank Apprentice Mock Test - 1 - Question 28
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What key aspect of an individual's credit profile involves the evaluation of the age and diversity of their credit accounts to determine creditworthiness?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 28
Trade attributes, including the age and diversity of an individual's credit accounts, are important factors that influence creditworthiness and credit scoring. Lenders assess the mix of credit accounts an individual holds, as well as the length of their credit history, to evaluate their creditworthiness. Maintaining a diverse portfolio of credit accounts and demonstrating a history of responsible credit management can positively impact an individual's credit score and financial profile.
Central Bank Apprentice Mock Test - 1 - Question 29
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What is one of the indicators of a good credit score ?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 29

A long credit history is considered an indicator of a good credit score because it allows lenders to assess repayment patterns over a significant period. It reflects the borrower's ability to manage credit responsibly over time, which can positively impact their creditworthiness and trustworthiness in the eyes of lenders.

Central Bank Apprentice Mock Test - 1 - Question 30
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Why is evidence of financial discipline important for determining a good credit score?
Detailed Solution for Central Bank Apprentice Mock Test - 1 - Question 30
Demonstrating financial discipline is crucial for determining a good credit score because it shows that the borrower can manage their finances responsibly. This includes making timely payments, avoiding excessive debt, and maintaining a good credit utilization ratio. Such behavior indicates reliability and trustworthiness to potential lenders.
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