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Central Bank Apprentice Mock Test - 7 - Bank Exams MCQ


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30 Questions MCQ Test - Central Bank Apprentice Mock Test - 7

Central Bank Apprentice Mock Test - 7 for Bank Exams 2024 is part of Bank Exams preparation. The Central Bank Apprentice Mock Test - 7 questions and answers have been prepared according to the Bank Exams exam syllabus.The Central Bank Apprentice Mock Test - 7 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 - 7 below.
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Central Bank Apprentice Mock Test - 7 - Question 1
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If k is the largest possible real number such that p4 + q4 = (p2 + kpq + q2)(p2 – kpq + q2), then the value of k is

Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 1

p4 + q4 = (p2)2 + (q2)2
= (p2 + q2)2 – 2p2q2
= (p2 + q2)2 – (√2pq)2
= (p2 + q2 + √2pq)(p2 + q2 – √2pq) 

Central Bank Apprentice Mock Test - 7 - Question 2
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A and B entered into partnership with capitals in the ratio 4 : 5. After 3 months, A withdrew 1/4 of his capital and B withdrew 1/5 of his capital. The gain at the end of 10 months was Rs 760. A’s share in this profit is?

Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 2

Let A’s initial capital = Rs 400
And B’s initial capital = Rs 500
Thus A’s capital after 3 months = 400 – 1/4 of 400 = Rs 300
And B’s capital after 3 months = 500 – 1/5 of 500 = Rs 400
Hence, A’s 1 month equivalent capital for 10 months = 400*3 + 300*7  = 3300
And B’s 1 month equivalent capital for 10 months = 500*3 + 400*7 = 4300
So ratio of their capitals = 3300 : 4300 = 33 : 43
Therefore A’s share in the profit = 760*(33/76) = Rs 330 (option ‘A’)

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Central Bank Apprentice Mock Test - 7 - Question 3
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Study the following pie-chart and the table and answer the questions based on them.

Q. If the population of village R in 1997 is 32000, then what will be the population of village Y below poverty line in that year?

Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 3

Population of village R = 32000 (given).

Let the population of village Y be y.

Then, 16 : 15 = 32000 : y 
= 30000.

∴ Population of village Y below poverty line 

= 52% of 30000 = 15600

Central Bank Apprentice Mock Test - 7 - Question 4
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Statement: The local hospital has announced the opening of a new wing dedicated to cancer treatment.
Inference:
I. The hospital is expanding its facilities.
II. The hospital has a shortage of staff.
III. The new wing will only treat patients with cancer.
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 4

The statement mentions that the local hospital has announced the opening of a new wing dedicated to cancer treatment. From this, it can be inferred that the hospital is expanding its facilities to include a new wing for cancer treatment. This is a logical inference from the given statement. Additionally, it can be inferred that the new wing will only treat patients with cancer, which is also mentioned in the statement. Therefore, option III is also correct. Option II is incorrect as there is no mention of a shortage of staff in the statement.

Central Bank Apprentice Mock Test - 7 - Question 5
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Direction: Study the following information and answer the given questions carefully.

Q is to the south of P. A is to the west of B, which is to the west of C. D is to the south of B. P is to the west of A.

​​​​​​​A is to the _____ of D.
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 5

From the common explanation, we can see that A is to the north west of D.
Hence, Option A is correct.
Final Arrangement:

Common Explanation:
References:
Q is to the south of P.
A is to the west of B, which is to the west of C.
D is to the south of B.
P is to the west of A.
Inferences:
From the above statement, we get the final figure below:
​​​​​​​​​​​​​​

Central Bank Apprentice Mock Test - 7 - Question 6
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Direction: If a Paper (Transparent Sheet) is folded in a manner and a design or pattern is drawn. When unfolded this paper appears as given below in the answer figure. Choose the correct answer figure given below.

A piece of paper is folded and cut as shown below in the question figures. From the given answer figures, indicate how it will appear when opened.
Question Figure

Answer figure
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 6

Central Bank Apprentice Mock Test - 7 - Question 7
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Direction: Read the following passage carefully and answer the questions that follow each passage. Your answer to these questions should be based on the passage only.
Every successful man fails at some time. Failure tells you about your weaknesses, shortcomings, lack of preparations, lack of efforts. So if you can manage to learn from it contributes to lasting success. Extract the lesson to learn from failure and try again with redoubled vigor. Facing failure makes one strong, more wise and more resolute, spurs them on to greatest efforts. There is not failure in truth, save from within; unless we are beaten there, We are bound to succeed. Failures not only tell us that we couldn't prepare ourselves up to the level of success and with more hard work. Failures are the stepping stones of success. Every successful man has failed, not once but several times, in their life, but they analyzed the things in real perspective and tried again with more vigor and zeal and achieved success.

Q. What does failure teach, besides letting us know our shortcomings?
1. We couldn't prepare ourselves up to the level of success
2. It tells us that we still need to learn
3. We learn from mistakes
Which of the above statements is/are correct?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 7

Failure teaches a lot but basically we learn that we still need to learn. Because we could not prepare up to the level of success.

Central Bank Apprentice Mock Test - 7 - Question 8
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Direction: Read the following passage carefully and answer the questions that follow each passage. Your answer to these questions should be based on the passage only.
Every successful man fails at some time. Failure tells you about your weaknesses, shortcomings, lack of preparations, lack of efforts. So if you can manage to learn from it contributes to lasting success. Extract the lesson to learn from failure and try again with redoubled vigor. Facing failure makes one strong, more wise and more resolute, spurs them on to greatest efforts. There is not failure in truth, save from within; unless we are beaten there, We are bound to succeed. Failures not only tell us that we couldn't prepare ourselves up to the level of success and with more hard work. Failures are the stepping stones of success. Every successful man has failed, not once but several times, in their life, but they analyzed the things in real perspective and tried again with more vigor and zeal and achieved success.

Q. What does help us to come out of the failure?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 8

The author here Wants us to know that whatever lesson we learn from the failure can help us in coming out of it.

Central Bank Apprentice Mock Test - 7 - Question 9
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'Integrated Circuits' belonged to which of the following generation of Computers?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 9

The correct answer is Third Generation.

  • Generation in computer terminology is a change in technology a computer is/was being used.
  • Initially, the generation term was used to distinguish between varying hardware technologies.
  • Nowadays, generation includes both hardware and software, which together make up an entire computer system.
Central Bank Apprentice Mock Test - 7 - Question 10
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What is the main purpose of Android Nougat in the context of operating systems?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 10
Android Nougat is an operating system designed primarily to operate on touchscreen mobile devices, such as smartphones and tablets. It provides a user-friendly interface for mobile users and manages the hardware and software resources specific to mobile devices.
Central Bank Apprentice Mock Test - 7 - Question 11
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What is the primary difference between an executor and an administrator in the context of managing a deceased person's estate?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 11
Executors are individuals appointed by a person through their will to manage their estate following their death, while administrators are appointed by the court when there is no will left behind by the deceased person. This key difference lies in whether there is a will dictating the management of the estate or not.
Central Bank Apprentice Mock Test - 7 - Question 12
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What action should a bank take upon the death of a testator regarding the testator's account?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 12
When a testator passes away, the bank should freeze the operations of the account to prevent any unauthorized transactions or access. This step is crucial to ensure that the assets in the account are safeguarded until the executor or administrator can manage them appropriately.
Central Bank Apprentice Mock Test - 7 - Question 13
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What grants an executor the power and authority to manage a deceased person's estate?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 13
An executor's power and authority to manage a deceased person's estate are derived from the will itself. Upon the death of the testator, the executor named in the will is granted official probate by the court, which authorizes them to act in accordance with the directions outlined in the will.
Central Bank Apprentice Mock Test - 7 - Question 14
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Why is it important for a banker to pay special attention to the actions to be taken upon the death of a testator?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 14
It is crucial for a banker to give special attention to the steps to be taken after the death of a testator to ensure compliance with legal requirements and protect the estate. By following proper procedures and safeguards, the bank can help prevent any unauthorized access or mishandling of the deceased person's assets, contributing to the smooth administration of the estate.
Central Bank Apprentice Mock Test - 7 - Question 15
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In the context of handling accounts after the death of an account holder, what action should the bank take upon the production of the official probate by the administrator or executor?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 15
Upon the production of the official probate by the administrator or executor, the bank is expected to transfer the outstanding balance from the deceased account to the executor or administrator's account. This process ensures that the funds are appropriately handled and managed as per legal requirements.
Central Bank Apprentice Mock Test - 7 - Question 16
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What is the primary difference between an executor and a power of attorney holder in terms of authority over an account?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 16
A power of attorney holder acts as an agent of the account and operates in the account holder's name, whereas an executor is appointed to manage the deceased's estate. The power of attorney holder's authority is limited to the powers granted to them, acting on behalf of the account holder.
Central Bank Apprentice Mock Test - 7 - Question 17
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What is a crucial requirement for a power of attorney to be valid for banking transactions ?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 17

For a power of attorney to be valid for banking transactions, it must be stamped and registered at the Registrar of Documents or attested by a notary. This process ensures the legality and authenticity of the power granted to the attorney.

Central Bank Apprentice Mock Test - 7 - Question 18
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What action should a bank take if one of multiple executors revokes authority to operate the account?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 18
If one of multiple executors revokes authority to operate the account, the bank should obtain a fresh letter of authority specifying the names of the individuals authorized to operate the account. This step ensures that the bank has updated and accurate information regarding the account's management.
Central Bank Apprentice Mock Test - 7 - Question 19
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What is a key requirement regarding the number of members for a public limited company?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 19
A public limited company is required to have a minimum of seven members as per legal regulations. This minimum number is set to ensure a diverse and responsible governance structure within the company. It allows for broader representation and decision-making processes involving a larger group of individuals.
Central Bank Apprentice Mock Test - 7 - Question 20
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What is a common feature associated with Cash Back Offers on credit cards ?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 20

Cash Back Offers on credit cards often come with a cap on the total amount that can be earned as cash back. This means that there is a limit to the total cash back a cardholder can receive, regardless of how much they spend using the credit card.

Central Bank Apprentice Mock Test - 7 - Question 21
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What is one of the promotional concepts introduced to encourage the usage of credit cards ?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 21

One of the promotional concepts introduced to boost credit card usage is the "Cash Back Offer." This incentivization strategy typically offers a percentage back on purchases made using the credit card. It aims to encourage more spending by providing a financial incentive in the form of cash back.

Central Bank Apprentice Mock Test - 7 - Question 22
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What is one way to make a payment on a credit card if the full amount cannot be paid on or before the due date ?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 22

If the full amount on a credit card cannot be paid on or before the due date, one option is to pay a minimum of 10% of the outstanding amount every month on the due date. This allows the cardholder to make regular payments towards the balance, albeit at a smaller increment.

Central Bank Apprentice Mock Test - 7 - Question 23
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What is the maximum amount to which a credit card holder's liability is usually restricted in case of card loss by most credit card issuers?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 23
In case of loss of a credit card, most credit card issuers limit the card holder's liability to a small amount, usually restricted to Rs. 1000. This limitation provides a level of security and protection to the card holder in the event of unauthorized transactions. It is crucial for card holders to report the loss of their card promptly to the issuer to minimize potential financial risks and liabilities.
Central Bank Apprentice Mock Test - 7 - Question 24
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What additional security feature is mandated by the Reserve Bank of India for online credit card transactions similar to the PIN used for ATM transactions?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 24
For online purchases using credit cards, the Reserve Bank of India mandates an additional security feature similar to the PIN used for ATM transactions. This security feature, known as Verified by Visa, along with others like Mastercard Secure Code, adds an extra layer of protection by requiring users to enter a password for verification during online transactions. These measures help enhance the security of online transactions and reduce the risk of fraudulent activities.
Central Bank Apprentice Mock Test - 7 - Question 25
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What is one of the essential steps involved in the credit card issuing process ?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 25

An important step in the credit card issuing process is conducting a thorough analysis of the applicant's credit score. This evaluation helps financial institutions assess the applicant's creditworthiness and determine the type of credit card that would be suitable for the individual. A good credit score often leads to better credit card options with favorable terms and benefits.

Central Bank Apprentice Mock Test - 7 - Question 26
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What range of personal accident insurance cover is offered by some banks to credit card holders based on the type of card?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 26
Some banks provide credit card holders with free personal accident insurance cover, which can range from Rs. 1 lakh to Rs. 10 lakhs, depending on the type of credit card held. This insurance coverage offers financial protection to card holders in the event of accidents resulting in bodily injury or death. It serves as an additional benefit that enhances the overall value proposition of the credit card.
Central Bank Apprentice Mock Test - 7 - Question 27
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What is a key eligibility requirement for obtaining a credit card?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 27
One key eligibility requirement for obtaining a credit card is having a good credit history. A good credit history demonstrates to the credit card issuer that the individual has a track record of managing credit responsibly. It indicates a borrower's ability to repay debts on time, which is crucial for being approved for a credit card with favorable terms and credit limits.
Central Bank Apprentice Mock Test - 7 - Question 28
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What is the primary characteristic that distinguishes Debit Cards from Credit Cards?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 28
Debit Cards differ from Credit Cards in that they facilitate immediate payment directly from the user's account balances when a purchase is made. This means that the amount spent is deducted from the user's account at the moment of the transaction, unlike Credit Cards which allow for payment at a later date, typically on a monthly billing cycle.
Central Bank Apprentice Mock Test - 7 - Question 29
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What is the per transaction limit set by issuers for cross-border outward transactions on Prepaid Payment Instruments (PPIs)?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 29
Issuers of Prepaid Payment Instruments (PPIs) apply a per transaction limit not exceeding Rs. 10,000 for cross-border outward transactions. This limit ensures control and security for such transactions while facilitating international payments within set boundaries.
Central Bank Apprentice Mock Test - 7 - Question 30
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What type of securities were introduced by the Government of India in 2010 to address temporary cash flow mismatches?
Detailed Solution for Central Bank Apprentice Mock Test - 7 - Question 30
Cash Management Bills (CMBs) were introduced by the Government of India in 2010 to address temporary cash flow mismatches. These bills have similarities with T-bills but are issued for maturities less than 91 days. They serve as a short-term instrument for managing the government's cash flow effectively.
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