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Central Bank Apprentice Mock Test - 5 - Bank Exams MCQ


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30 Questions MCQ Test - Central Bank Apprentice Mock Test - 5

Central Bank Apprentice Mock Test - 5 for Bank Exams 2024 is part of Bank Exams preparation. The Central Bank Apprentice Mock Test - 5 questions and answers have been prepared according to the Bank Exams exam syllabus.The Central Bank Apprentice Mock Test - 5 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 - 5 below.
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Central Bank Apprentice Mock Test - 5 - Question 1
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The HCF and LCM of two numbers are 13 and 455 respectively. If one of the number lies between 75 and 125, then, that number is :

Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 1

HCF = 13
Let the numbers be 13x and 13y.
Where x and y are co-prime.
∴ LCM = 13 xy
∴ 13 xy = 455

∴ Numbers are 13 × 5 = 65 and 13 × 7 = 91

Central Bank Apprentice Mock Test - 5 - Question 2
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A pipe can fill a tank in ‘x’ hours and another pipe can empty it in‘y’ (y > x) hours. If both the pipes are open, in how many hours will the tank be filled ?

Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 2

Part of the tank filled in 1 hour = 1/x
Part of the tank emptied in 1 hour = 1/y
Part of the tank filled in 1 hour
when both are opened

Tank will be filled in 

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Central Bank Apprentice Mock Test - 5 - Question 3
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If + = x , - = ÷ , x = + , ÷ = - , then which is the correct equation out of the following ?

Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 3

18 + 6 - 4 x 2 ÷ 3 = 26
After chaning, the equation is
L.H.S., 18 x 6 ÷ 4 + 2 - 3
108 ÷ 4 + 2 - 3
27 + 2 - 3
29 - 3 = 26 R.H.S.

Central Bank Apprentice Mock Test - 5 - Question 4
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Find the odd number / letters / word from the given alternative.
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 4

5720 → 5+2+0 = 7 (Second digit from Right)
6710 → 6+1+0 = 7 (Second digit from Right)
2640 → 2+4+0 = 6 (Second digit from Right)
4270 → 4+7+0 = 11 ( Not the second digit from Right)

Central Bank Apprentice Mock Test - 5 - Question 5
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Direction: In each question below is given a statement followed by two courses of action numbered I and II. You have to assume everything in the statement to be true and on the basis of the information given in the statement, decide which of the suggested courses of action logically follow(s) for pursuing.

Statement: A large number of people in ward X of the city are diagnosed to be suffering from a fatal malaria type.

Course of action:

I. The city municipal authority should take immediate steps to carry out extensive fumigation in ward X.

II. The people in the area should be advised to take steps to avoid mosquito bites.
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 5

Clearly, prevention from mosquitoes and elimination of mosquitoes are two ways to prevent malaria. So, both the courses follow.

Central Bank Apprentice Mock Test - 5 - Question 6
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Direction: Read the following passages carefully and answer the question that follows.
The ancient Harappan Civilization emerged, flourished and collapsed under a steadily weakening monsoon, according to new research findings, that scientists say, provide the strongest evidence yet to link its risk and fall to changing climate. A team of scientists has combined multiple sets of date to show that weakening monsoon and reduced river water initially stimulated intensive agriculture and urbanisation, but later precipitated the decline and collapse of the subcontinent's earliest cities. The scientist said their research also suggests that a larger river, summed to be the mythical Saraswati, which once watered the Harappan Civilization's heartland between the suggests it was a glacier fed river with origins in the Himalyas. The findings appear today in the US Journal Proceedings of the National Academy of Science

Q. What task the team of scientists was assigned to?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 6

The author says that team of scientists was assigned to find out the evidence of the Harappan Civilization's rise and fall.

Central Bank Apprentice Mock Test - 5 - Question 7
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Direction: Read the following passages carefully and answer the question that follows.
The ancient Harappan Civilization emerged, flourished and collapsed under a steadily weakening monsoon, according to new research findings, that scientists say, provide the strongest evidence yet to link its risk and fall to changing climate. A team of scientists has combined multiple sets of date to show that weakening monsoon and reduced river water initially stimulated intensive agriculture and urbanisation, but later precipitated the decline and collapse of the subcontinent's earliest cities. The scientist said their research also suggests that a larger river, summed to be the mythical Saraswati, which once watered the Harappan Civilization's heartland between the suggests it was a glacier fed river with origins in the Himalyas. The findings appear today in the US Journal Proceedings of the National Academy of Science

Q. What was the controversy in the passage?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 7

The controversy is about the monsoon fed river and the glacier fed river.

Central Bank Apprentice Mock Test - 5 - Question 8
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What does HTML stand for?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 8

HTML is the standard markup language used to create and design web pages. It uses tags to define the structure and layout of content on a webpage.

Central Bank Apprentice Mock Test - 5 - Question 9
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What is the other name for 'transistor computer'?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 9

Second-generation computers were based on Transistors instead of vacuum tubes. 1959-1965 is the period of second-generation computers.

Central Bank Apprentice Mock Test - 5 - Question 10
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What historical origin is associated with the term "customer" ?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 10

The term "customer" is historically derived from the word "custom," which means "habit." In the past, a customer was someone who frequented a particular shop regularly, forming a habitual pattern of purchasing goods from that shop. This historical context sheds light on the evolution of customer relationships over time.

Central Bank Apprentice Mock Test - 5 - Question 11
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What defines a customer from a banking perspective ?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 11

In the banking context, a customer is defined as someone who has an account with the bank. This definition highlights the importance of account holders in the banking sector and their role as customers who engage with the bank's products and services.

Central Bank Apprentice Mock Test - 5 - Question 12
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What category of bank customers, includes individuals who are considered non-competent to contract due to their age?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 12

In accordance with the Indian Contract Act of 1872, minors are individuals below the age of 18 and are deemed non-competent to contract. This means that minors are not legally allowed to enter into contractual agreements. It is crucial for banks to adhere to this regulation when considering the eligibility of individuals to open accounts.

Central Bank Apprentice Mock Test - 5 - Question 13
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Which category of bank customers, may consist of individuals who are in charge of managing the assets and affairs of a deceased person?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 13

Trustees are individuals entrusted with the responsibility of managing the assets and affairs of a deceased person as per their will or legal arrangements. They play a crucial role in executing the wishes and instructions left behind by the deceased individual, ensuring that the assets are distributed.

Central Bank Apprentice Mock Test - 5 - Question 14
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Which type of bank customer category, based on the information provided, may include entities such as charitable organizations and social clubs?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 14
The category of bank customers encompassing clubs, societies, and charitable institutions consists of entities that operate for social, charitable, or recreational purposes. These organizations often have specific financial needs and requirements that differ from individual customers, necessitating tailored banking services.
Central Bank Apprentice Mock Test - 5 - Question 15
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Which category of bank customers could potentially involve individuals who are residing outside their home country?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 15

Non-Resident customers refer to individuals who reside outside their home country but have banking needs within the jurisdiction where the bank operates. Banks often offer specialized services to non-resident customers to cater to their unique requirements, such as international transactions, foreign currency accounts, and cross-border financial services.

Central Bank Apprentice Mock Test - 5 - Question 16
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What is the preferable type of bank account to open for a minor ?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 16

As per the information provided, it is advisable to open a Savings Bank Account for a minor rather than a Current Account. This choice is recommended due to specific considerations related to the minor's status and financial management.

Central Bank Apprentice Mock Test - 5 - Question 17
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Who is considered the natural guardian of a Hindu minor ?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 17

In the context of a Hindu minor, the natural guardian is initially the father, followed by the mother. This is a traditional legal aspect that determines the hierarchy of guardianship for Hindu minors.

Central Bank Apprentice Mock Test - 5 - Question 18
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Under what circumstances can a court appoint a guardian for a minor ?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 18

The court may appoint a guardian for a minor if, in the court's opinion, the father is unfit to be one. This legal provision ensures the well-being and protection of the minor in cases where the father is deemed unsuitable for guardianship.

Central Bank Apprentice Mock Test - 5 - Question 19
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What security measure is typically required for educational loans above Rs.7.50 Lacs according to the IBA guidelines?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 19
According to the IBA guidelines, educational loans above Rs.7.50 Lacs are usually required to be secured by a tangible asset to cover the loan. This could be in the form of property or government securities like NSC, KVP, etc. The inclusion of tangible assets as security helps mitigate the risks associated with larger loan amounts and provides assurance to the lending institutions.
Central Bank Apprentice Mock Test - 5 - Question 20
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When does the repayment period typically begin for educational loans as per the guidelines?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 20
According to the guidelines, the repayment period for educational loans typically begins one year after the completion of studies or employment, whichever comes earlier. This provision allows students some time to find employment or settle into their careers before starting the repayment process, easing the financial burden during the initial post-education phase.
Central Bank Apprentice Mock Test - 5 - Question 21
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What is the maximum loan amount for foreign studies under the IBA Model Educational Loan Scheme?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 21
Under the IBA Model Educational Loan Scheme, the maximum loan amount for foreign studies is up to Rs. 20 Lacs. This provision allows students pursuing education abroad to access financial support for their higher education expenses, including tuition fees, living costs, and other related expenditures.
Central Bank Apprentice Mock Test - 5 - Question 22
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What is a notable benefit for prompt repayment of the loan ?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 22

One notable benefit for prompt repayment of the loan is the availability of Tax Exemption for the interest serviced. This incentive encourages borrowers to service their interest promptly, providing them with a financial advantage in terms of tax benefits. By servicing the interest in a timely manner, borrowers can take advantage of this tax exemption opportunity, thereby reducing their overall financial burden and maximizing their savings.

Central Bank Apprentice Mock Test - 5 - Question 23
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What does the Stand Alone Model for retail loan processing primarily involve?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 23
The Stand Alone Model for retail loan processing involves the branch independently marketing retail loans, processing and sanctioning loans based on applicant eligibility, and conducting appraisal and sanctioning at the branch level. This model empowers the Branch Head with discretionary powers to handle the entire loan process within the branch itself.
Central Bank Apprentice Mock Test - 5 - Question 24
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In the context of retail loan processing, what is a key characteristic of the Centralised Model?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 24
In the Centralised Model for retail loan processing, loans are processed at a centralized location based on the geographical distribution of branches. This model involves processing loans in a centralized manner, where various tasks like appraisal and sanctioning are conducted at a central place rather than at individual branches.
Central Bank Apprentice Mock Test - 5 - Question 25
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Which of the following terms is NOT typically used to refer to a Centralised Model processing center for retail loans?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 25
Centralized Model processing centers for retail loans are commonly referred to as Retail Loan Factory, Retail Loan Hub, and Retail Asset Processing Centres. The term "Retail Loan Branches" does not typically denote a centralized processing center but rather individual branch locations.
Central Bank Apprentice Mock Test - 5 - Question 26
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What distinguishes a Standalone Model from a Centralized Model in retail loan processing?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 26
One key distinction between the Standalone Model and Centralized Model in retail loan processing is the level of autonomy branches have. In the Standalone Model, branches independently handle loan processing, while in the Centralized Model, processing occurs at a centralized location based on the geography of branches. This difference impacts how decisions are made and processes are carried out within the bank's retail loan operations.
Central Bank Apprentice Mock Test - 5 - Question 27
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What is a key factor that may lead to a difference in the quality of appraisal in retail loans ?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 27

The processing time in retail loans may differ based on the priorities of different branches and the importance of customers or proposals. This variability can impact the speed and efficiency of loan processing, affecting customer satisfaction and operational effectiveness.

Central Bank Apprentice Mock Test - 5 - Question 28
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How does the exclusive nature of retail loan activities contribute to their processing efficiency?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 28
The exclusive nature of retail loan activities ensures uniform quality in the appraisal process. Since retail loans are an exclusive activity, there is a focus on maintaining consistent standards and procedures, leading to a more reliable and streamlined appraisal process.
Central Bank Apprentice Mock Test - 5 - Question 29
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In the context of G-Secs transactions, how are outright secondary market transactions settled?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 29
Outright secondary market transactions in G-Secs are settled on a T 1 basis. This means that the delivery of securities and funds occurs on the first day after the trade. It ensures prompt settlement and smooth functioning of the secondary market for government securities.
Central Bank Apprentice Mock Test - 5 - Question 30
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What role does CCIL play in the settlement of G-Secs trades?
Detailed Solution for Central Bank Apprentice Mock Test - 5 - Question 30
The Clearing Corporation of India Ltd (CCIL) acts as a central counter-party (CCP) in the settlement of G-Secs trades. This means that CCIL guarantees the settlement of trades by interposing itself between the buyer and seller, thereby managing counterparty credit risks and ensuring smooth settlement processes in the market.
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