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Central Bank Apprentice Mock Test - 3 - Bank Exams MCQ


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30 Questions MCQ Test - Central Bank Apprentice Mock Test - 3

Central Bank Apprentice Mock Test - 3 for Bank Exams 2024 is part of Bank Exams preparation. The Central Bank Apprentice Mock Test - 3 questions and answers have been prepared according to the Bank Exams exam syllabus.The Central Bank Apprentice Mock Test - 3 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 - 3 below.
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Central Bank Apprentice Mock Test - 3 - Question 1
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The average of X natural numbers is 20. If 40 is added to the first number and 4 is subtracted from the last number, the average becomes 22. What is the value of X?

Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 1

X × 20 + 40 – 4 = X × 22
36 = 2X
X = 18
Hence, Option A is correct.

Central Bank Apprentice Mock Test - 3 - Question 2
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If the difference between the downstream speed and upstream speed of a boat is 8 km/hr, what is the speed of stream?

Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 2


Hence, Option C is correct.

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Central Bank Apprentice Mock Test - 3 - Question 3
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2x + 4 = 3x + 1 will represent a.

Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 3
2x+4=3x+1 2x-3x=1-4 -x=-3 x=3 Here x is positive.So it is in the right side and value of x is 3.So it is 3unit in right of y axis.
Central Bank Apprentice Mock Test - 3 - Question 4
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If it is possible to make a meaningful word with the 2nd, the 3rd, the 4th and the 6th letter of the word STRATEGIC; then which of the following will be the 2nd letter of the word? If no such word can be made, mark ‘X’ as your answer. If more than one such word can be made, mark ‘M’ as your answer.
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 4

The 2nd, the 3rd, the 4th and the 6th letter of the word STRATEGIC are T,R,A and E respectively.
The words can be RATE and TEAR.
Thus M is the answer as more than one word can be formed.

Central Bank Apprentice Mock Test - 3 - Question 5
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Which answer figure will complete the pattern in the question figure?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 5

Central Bank Apprentice Mock Test - 3 - Question 6
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How many triangle is in the given figure?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 6

Central Bank Apprentice Mock Test - 3 - Question 7
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Direction: Read the following passages carefully and answer the question that follows.
Knowledge means knowing the things in an appropriate and better way. A man of knowledge can understand the circumstances more wisely, so can decide the things favorably. Knowledge inspired. confidence and courage to act at a right time. A man of knowledge possesses immense influence in society. He has the capacity to lead the society, mold the society in a positive direction and keeps away the society from the many social evils. A man of knowledge can turn the sleeping people into a thundering force. Whatever the inventions and discoveries are seen today. from needle to the jet planes. are the result of proper use of knowledge. Human being is the only creature who can use his brain wisely, rationally, selectively and can do wonders.

Q. What sort of life a man of knowledge can lead?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 7

The author makes this clear in the fourth sentence of the passage that a man of knowledge possesses immense influence in society

Central Bank Apprentice Mock Test - 3 - Question 8
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Direction: Read the following passages carefully and answer the question that follows.
Knowledge means knowing the things in an appropriate and better way. A man of knowledge can understand the circumstances more wisely, so can decide the things favorably. Knowledge inspired. confidence and courage to act at a right time. A man of knowledge possesses immense influence in society. He has the capacity to lead the society, mold the society in a positive direction and keeps away the society from the many social evils. A man of knowledge can turn the sleeping people into a thundering force. Whatever the inventions and discoveries are seen today. from needle to the jet planes. are the result of proper use of knowledge. Human being is the only creature who can use his brain wisely, rationally, selectively and can do wonders.

Q. What is the reformative activity of a man of knowledge according to the given passage?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 8

The author considers that a man of knowledge is reformative in his approach. He can tun the sleeping people into a thundering force.

Central Bank Apprentice Mock Test - 3 - Question 9
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What is the purpose of memory management in an operating system?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 9
Memory management in an operating system involves the management of primary memory or RAM (Random Access Memory). Its primary purpose is to keep track of what part of the memory is in use by which processes and what part is available for allocation. This ensures that programs have the necessary memory to run and that memory is allocated efficiently.
Central Bank Apprentice Mock Test - 3 - Question 10
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What is the purpose of the CPU cache in a computer?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 10
The CPU cache in a computer is designed to hold frequently used data for quick access by the CPU, reducing the need to fetch data from slower memory.
Central Bank Apprentice Mock Test - 3 - Question 11
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Under what circumstances is the interest on overdue bank deposits exempt from Income Tax ?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 11

The interest on bank deposits is exempt from Income Tax up to a limit specified by Income Tax authorities. Presently, if the total interest on deposits per depositor per branch per financial year exceeds Rs. 5000/-, the same is subject to Tax Deducted at Source (TDS) at the rate stipulated by the Income Tax authorities. This exemption threshold sets a limit on the amount of interest income that can be earned tax-free by depositors.

Central Bank Apprentice Mock Test - 3 - Question 12
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What precaution should a banker take when considering granting an advance against a fixed deposit receipt issued by another bank?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 12
When a banker is contemplating granting an advance against a fixed deposit receipt issued by another bank, a crucial precaution is to confirm that no loan has been already advanced against that deposit by the other bank. This step ensures that there are no conflicting claims or liens on the deposit receipt, safeguarding the interests of all parties involved in the transaction. It is essential for the bank to verify the status of the deposit before proceeding with the loan to mitigate any potential risks or complications that may arise from existing commitments against the deposit.
Central Bank Apprentice Mock Test - 3 - Question 13
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In what scenario can a loan be granted against a fixed deposit held in the names of minors?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 13
A loan can be granted against a fixed deposit held in the names of minors when the guardian provides a declaration stating that the funds belong to him but are kept in the minor's name for convenience. This declaration assures the bank that the guardian has control over the funds and intends to use the loan amount for the benefit of the minor. By obtaining this declaration, the bank ensures transparency and compliance with regulations regarding loans against deposits held in the names of minors.
Central Bank Apprentice Mock Test - 3 - Question 14
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How should a bank handle the deposit receipt in the case of joint depositors when granting a loan against a fixed deposit?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 14
When granting a loan against a fixed deposit held in the names of multiple depositors, the bank should obtain a letter of authority signed by all depositors if the loan is to be granted to one of them. This precaution ensures that all parties involved are aware of and consent to the loan against the deposit. By requiring the signatures of all depositors on the letter of authority, the bank establishes clarity and authorization regarding the loan transaction, maintaining transparency and legal compliance in the process.
Central Bank Apprentice Mock Test - 3 - Question 15
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What precaution should a bank take when advancing against the receipt of another branch of the same bank?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 15
When advancing against the receipt of another branch of the same bank, a crucial precaution is to notify the branch that issued the deposit receipt after granting the loan. This communication ensures that the originating branch is aware of the transaction and can note and confirm the lien placed on the deposit. By informing the issuing branch, the lending branch maintains transparency and accountability within the banking system, facilitating smooth operations and accurate record-keeping across different branches.
Central Bank Apprentice Mock Test - 3 - Question 16
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What does a banker require when a loan is advanced against a fixed deposit receipt in the name of a third party?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 16
When a loan is advanced against a fixed deposit receipt in the name of a third party, the banker requires the fixed deposit receipt to be duly discharged by the person in whose name the deposit stands. This ensures that the ownership and approval are valid for utilizing the deposit as security for the loan.
Central Bank Apprentice Mock Test - 3 - Question 17
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What is the minimum interest rate that banks are required to charge on loans against fixed deposits according to Reserve Bank of India directive?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 17
As per the Reserve Bank of India directive, banks are required to charge a minimum of 2% above the interest payable on the fixed deposit for loans advanced against fixed deposits. Therefore, if a fixed deposit carries an interest rate of 9% per annum, the bank must charge a minimum interest rate of 11% per annum on the loan.
Central Bank Apprentice Mock Test - 3 - Question 18
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Which types of deposits are accepted under FCNR (B) Scheme?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 18
FCNR (B) Scheme accepts term deposits, which are received for a fixed period and are withdrawable only after the expiry of the specified period. This includes Reinvestment Deposits and Cash Certificates among other similar types of deposits.
Central Bank Apprentice Mock Test - 3 - Question 19
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How is the interest on FCNR deposits calculated and paid?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 19
The interest on FCNR deposits is calculated and paid differently based on the deposit period. For deposits up to one year, the interest is paid at the applicable rate without any compounding effect. For deposits exceeding one year, the interest is paid at intervals of 180 days each and thereafter for the remaining actual number of days.
Central Bank Apprentice Mock Test - 3 - Question 20
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How is the disbursement process structured for the purchase of a plot and subsequent construction ?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 20

For the purchase of a plot and subsequent construction, the disbursement process involves receiving funds first for the plot purchase and then for the construction. This structured approach ensures that financial support is allocated appropriately for both the land acquisition and the building phases, facilitating a smooth transition between these two stages.

Central Bank Apprentice Mock Test - 3 - Question 21
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How is disbursement managed in the case of purchasing a flat, particularly for a new flat ?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 21

In the case of purchasing a flat, especially for a new flat, disbursement is managed based on the progress of construction. Funds are released gradually as the construction advances, ensuring that financial support aligns with the milestones achieved during the building process, thus maintaining a systematic disbursement structure.

Central Bank Apprentice Mock Test - 3 - Question 22
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What is one of the primary eligibility requirements for individuals applying for Home Loans ?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 22

One of the primary eligibility requirements for individuals applying for Home Loans is to have a minimum of three years standing in their respective field for self-employed professionals and business persons. This requirement ensures that applicants have a stable and established background in their field before being eligible for a home loan.

Central Bank Apprentice Mock Test - 3 - Question 23
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What is the key factor determining the disbursement of a loan in the case of purchasing a flat and constructing it?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 23

The progress of construction is the pivotal factor determining the disbursement of a loan in the scenario of purchasing a flat and constructing it. This approach ensures that funds are released in alignment with the construction milestones reached, providing financial assistance at critical stages of the building process and facilitating effective management of the loan disbursement.

Central Bank Apprentice Mock Test - 3 - Question 24
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What is the maximum moratorium period typically allowed by banks for the construction of a house?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 24
Banks generally allow a maximum moratorium period of 18 months for the construction of a house. During this period, the borrower does not need to make any repayments towards the principal amount of the loan, and only the interest is charged. This extended moratorium period is designed to provide borrowers with financial flexibility during the construction phase of their homes.
Central Bank Apprentice Mock Test - 3 - Question 25
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What is the purpose of a rewriting fee charged by banks when switching from a fixed rate to a floating rate loan?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 25
The rewriting fee charged by banks when switching from a fixed rate to a floating rate loan is typically intended to cover the administrative costs involved in processing the loan conversion. It helps offset the expenses incurred by the bank in adjusting the terms of the loan and updating the necessary documentation to reflect the new interest rate structure.
Central Bank Apprentice Mock Test - 3 - Question 26
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What is the main distinguishing factor between fixed rate and floating rate home loans in terms of interest rates?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 26
One of the main differences between fixed rate and floating rate home loans is that the interest rates on floating rate loans are usually linked to the Bank's Prime Lending Rate. This means that as the Prime Lending Rate changes, the interest rate on the floating rate loan will also adjust accordingly. On the other hand, fixed rate loans maintain a constant interest rate for a specified period, providing borrowers with predictable monthly payments.
Central Bank Apprentice Mock Test - 3 - Question 27
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What pricing strategy involves offering lower teaser interest rates initially to attract customers, followed by an increase to fixed or floating rates later on?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 27
Step up pricing is a pricing model where lenders offer lower teaser interest rates for the initial period to attract customers. After this introductory period, the interest rates gradually increase to fixed or floating rates prevailing at that time. This strategy aims to make the loan more appealing in the beginning while ensuring that the lender can adjust the rates to align with market conditions later on.
Central Bank Apprentice Mock Test - 3 - Question 28
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What is the main objective of the Pradhan Mantri Awas Yojana (PMAY) launched by the Government of India?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 28
The primary aim of the Pradhan Mantri Awas Yojana (PMAY) is to provide affordable housing to the urban poor by the year 2022. This initiative by the Government of India focuses on addressing the housing needs of different income groups through various subsidy schemes and loan facilities, ultimately aiming to improve living conditions and promote inclusive urban development.
Central Bank Apprentice Mock Test - 3 - Question 29
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Which category of beneficiaries is eligible for complete assistance under the Pradhan Mantri Awas Yojana (PMAY) scheme?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 29
Beneficiaries from the Economically Weaker Section (EWS) category are eligible for complete assistance under the PMAY scheme. This includes subsidy on interest rates for housing loans and other benefits aimed at facilitating access to affordable housing for individuals in this income bracket.
Central Bank Apprentice Mock Test - 3 - Question 30
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What is the deadline for availing the Credit Linked Subsidy Scheme (CLSS) under the Pradhan Mantri Awas Yojana (PMAY) for the Middle Income Group I (MIG-I) and Middle Income Group II (MIG-II) categories?
Detailed Solution for Central Bank Apprentice Mock Test - 3 - Question 30
The deadline for availing the PMAY CLSS scheme for the MIG-I and MIG-II categories has been extended to 31 March 2021. This extension provides additional time for eligible beneficiaries in these income groups to benefit from the subsidy on interest rates for housing loans under the scheme.
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