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Central Bank Apprentice Mock Test - 8 - Bank Exams MCQ


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30 Questions MCQ Test - Central Bank Apprentice Mock Test - 8

Central Bank Apprentice Mock Test - 8 for Bank Exams 2024 is part of Bank Exams preparation. The Central Bank Apprentice Mock Test - 8 questions and answers have been prepared according to the Bank Exams exam syllabus.The Central Bank Apprentice Mock Test - 8 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 - 8 below.
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Central Bank Apprentice Mock Test - 8 - Question 1
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If the first term of an AP is 2 and the sum of the first five terms is equal to one-fourth of the sum of the next five terms, then what is the sum of the first ten terms?

Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 1

Concept:
Let us consider sequence a1, a2, a3 …. an is an A.P.
Common difference “d”= a2 – a1 = a3 – a2 = …. = an – an – 1
nth term of the A.P.= an = a + (n – 1) d

Also, S =  (n/2)(a + l)
Where,
a = First term,
d = Common difference,
n = number of terms,
an = nth term,
l = Last term

Calculation:
Given, a1 = 2      ...(1)


[∵ n5 = 5 and n10 = 10]

∴ d = -3a1 = - 3 × 2 = - 6
Hence,

⇒ 5[2a1 + 9d]
⇒ 5[4 - 54] = -250
∴ S10 = 5 × (-50) = - 250.

Central Bank Apprentice Mock Test - 8 - Question 2
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A shopkeeper sold an article for Rs. 2,250 and made a profit of 25%. Find his profit/loss percent if he had sold his article for Rs. 1,000.

Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 2


Hence, Option D is correct.

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Central Bank Apprentice Mock Test - 8 - Question 3
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Direction: A cosmetic company provides five different products. The sales of these five products (in lakh number of packs) during 1995 and 2000 are shown in the following bar graph.

Q. The sales of lipsticks in 2000 was by what percent more than the sales of nail enamels in 2000? (rounded off to nearest integer)

Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 3

Required percentage

= 27.57%
≈ 28%.

Central Bank Apprentice Mock Test - 8 - Question 4
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If the number indicates the number of persons, then how many youth graduates are there?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 4

As per the given above question , we can see that
There are 30 youth graduates .
Hence , required answer will be option A .

Central Bank Apprentice Mock Test - 8 - Question 5
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Choose the answer figure which is embedded in the question figure.

answer-figure-embedded-in-question-figure---embedded-figures-problems
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 5

Clearly, answer figure (4) is embedded in question figure.

Central Bank Apprentice Mock Test - 8 - Question 6
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Direction: Study the following information and answer the given questions carefully.
A certain number of people live on different floors of a building, where the bottommost floor is numbered 1 and the floor above it is 2 and so on. There is no vacant floor in the building.
J lives three floors above K. One person lives between J and N. The number of persons living between Q and K is equal to the number of persons living between N and S. The number of persons living below H is equal to the number of persons living above S. Q lives three floors above I. The number of persons living between I and N is one less than the number of persons living below J. K lives on the 5th floor. S doesn’t live on a perfect square-numbered floor. One person lives between I and H. One person lives between Q and J.
Q. How many persons live above N?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 6

From the following common explanation, we can conclude that only one person lives above N.
Hence, Option B is correct.
Final Arrangement:

Common Explanation:
References:
K lives on the 5th floor.
J lives three floors above K.
One person lives between Q and J.
Q lives three floors above I.
Inferences:
From the above references, we get the following cases:

References:
One person lives between J and N.
The number of persons living between Q and K is equal to the number of persons living between N and S.
S doesn’t live on a perfect square-numbered floor.
Inferences: 
From the above references we get the following arrangement:

References:
One person lives between I and H.
The number of persons living below H is equal to the number of persons living above S.
The number of persons living between I and N is one less than the number of persons living below J.
Inferences:
From the above references, case 2 gets eliminated because the number of persons living below H is equal to the number of persons living above S.
So, the final arrangement:

Central Bank Apprentice Mock Test - 8 - Question 7
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Direction: Read the following passage carefully and answer the questions. Your answer to these questions should be based on passage only.
As concern about radiation from phones and base stations continues to grow, health experts advice a change of habits-spending less time on the phone, using landline, and texting rather than calling-to cut the risk. The risk of brain cancer as a result of excessive use of phones cannot be ruled out. Reduced use of mobile phones is advised, Cancer is an extreme example. We get many cases of parents complaining that their children lack concentration, get headache and have behavioral problems. This cannot be proved, though. A scientist with ICMR said exposure to radio frequency radiation has a thermal effects, caused by holding a phone close to the body, and also a non-thermal effect which can be attributed to the induced electromagnetic effects inside biological cells. The non-thermal effect is possibly more harmful. People who are chronically exposed to low level wireless antenna emissions and users of mobile phone handsets have reported feeling several unspecific symptoms.

Q. How can the chances of brain cancer be reduced?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 7

The author states that the chances of brain cancer can be reduced by spending less time on phone. Instead we can use message and can use land line. Options (a), (b) and (c) contributed to the answer.

Central Bank Apprentice Mock Test - 8 - Question 8
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Direction: Read the following passage carefully and answer the questions. Your answer to these questions should be based on passage only.
As concern about radiation from phones and base stations continues to grow, health experts advice a change of habits-spending less time on the phone, using landline, and texting rather than calling-to cut the risk. The risk of brain cancer as a result of excessive use of phones cannot be ruled out. Reduced use of mobile phones is advised, Cancer is an extreme example. We get many cases of parents complaining that their children lack concentration, get headache and have behavioral problems. This cannot be proved, though. A scientist with ICMR said exposure to radio frequency radiation has a thermal effects, caused by holding a phone close to the body, and also a non-thermal effect which can be attributed to the induced electromagnetic effects inside biological cells. The non-thermal effect is possibly more harmful. People who are chronically exposed to low level wireless antenna emissions and users of mobile phone handsets have reported feeling several unspecific symptoms.

Q. Which is more harmful out of the given below?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 8

Non-thermal is more harmful out of these.

Central Bank Apprentice Mock Test - 8 - Question 9
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Which of the following statements best describes the concept of normalization in a relational database?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 9
Normalization is a systematic approach to organizing and structuring a relational database to eliminate data redundancy and anomalies such as insertion, update, and deletion anomalies. It involves breaking down tables into smaller, related tables to ensure data integrity and consistency. By doing so, we can avoid the issues that arise when data is duplicated across tables, leading to inconsistencies and inefficiencies in data management.
Central Bank Apprentice Mock Test - 8 - Question 10
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What type of attack involves masquerading as another person or program by falsifying data?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 10
Spoofing attacks involve falsifying data to appear as someone or something else, often to gain unauthorized access or deceive users.
Central Bank Apprentice Mock Test - 8 - Question 11
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What is a key requirement for a private limited company in terms of the number of members it can have?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 11
A private limited company is mandated to have at least two members according to legal provisions. This requirement ensures that there is a minimum level of participation and responsibility within the company's ownership structure. It allows for shared decision-making and distribution of roles among a smaller group of individuals.
Central Bank Apprentice Mock Test - 8 - Question 12
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What document must be submitted to determine the financial standing of a company?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 12

The balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time. It shows the company's assets, liabilities, and shareholders' equity. By examining the balance sheet, stakeholders can assess the company's liquidity, solvency, and overall financial health. It is a crucial document for understanding the financial standing and performance of a company.

Central Bank Apprentice Mock Test - 8 - Question 13
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What is a crucial document that a company must furnish to the bank when applying to open a bank account?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 13
When applying to open a bank account, a company must provide a board resolution approving the opening of the account and outlining how the account should be operated and by whom. This resolution serves as an official authorization from the company's board of directors, detailing the procedures and individuals responsible for managing the bank account.
Central Bank Apprentice Mock Test - 8 - Question 14
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What is a necessary step for a bank to take before granting a loan in terms of documentation?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 14
Before granting a loan, a bank must obtain a certified copy of the resolution authorizing the borrowing. This ensures that the decision to borrow has been officially approved by the company's management or board of directors. By securing this documentation, the bank validates the legitimacy of the borrowing request and confirms that it aligns with the company's internal decision-making processes.
Central Bank Apprentice Mock Test - 8 - Question 15
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What is a crucial requirement for banks when it comes to the purpose of borrowings, as per the Memorandum of Association?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 15
Banks must ensure that borrowings are strictly utilized for the purposes outlined in the Memorandum of Association. This document specifies the objectives, scope, and activities that a company can undertake. By adhering to these guidelines, banks can ensure that the borrowed funds are used in alignment with the company's intended operations and goals, promoting financial transparency and accountability.
Central Bank Apprentice Mock Test - 8 - Question 16
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What additional step must the Board take to ensure compliance with borrowing limits after passing a resolution to borrow?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 16
Following the resolution to borrow, the Board must also pass a resolution confirming that the borrowing falls within the established limits. This additional step is essential to prevent the company from exceeding its borrowing capacity and helps maintain financial discipline. By reaffirming compliance with borrowing limits, the Board upholds financial prudence and ensures responsible financial management within the organization.
Central Bank Apprentice Mock Test - 8 - Question 17
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What defines non-trading concerns like clubs or associations when they open an account with a bank for functioning purposes?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 17
Non-trading concerns such as clubs or associations, when opening a bank account, are defined by being governed by the resolution of the Managing Committee. This resolution specifies the signatories and the operational procedures for the account. It ensures accountability and proper management of the organization's finances.
Central Bank Apprentice Mock Test - 8 - Question 18
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According to the Foreign Exchange Management Act, who is considered a resident in India?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 18
As per the Foreign Exchange Management Act, a person residing in India for more than 182 days during the previous financial year is considered a resident in India. This definition helps in determining tax liabilities and foreign exchange regulations for individuals staying in India for a significant period.
Central Bank Apprentice Mock Test - 8 - Question 19
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What characterizes a non-resident according to the Foreign Exchange Management Act?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 19
A non-resident, as defined by the Foreign Exchange Management Act, includes individuals who do not meet the criteria for being considered a resident in India. This distinction is crucial for regulating foreign exchange transactions and determining the tax status of individuals residing outside India.
Central Bank Apprentice Mock Test - 8 - Question 20
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What is the maximum monthly limit for cash loading to Prepaid Payment Instruments (PPIs) as per the regulations?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 20
The regulations specify that the maximum monthly limit for cash loading to Prepaid Payment Instruments (PPIs) is set at Rs. 50,000. This limit helps regulate the inflow of funds into PPIs and ensures responsible use of these payment instruments for various financial transactions.
Central Bank Apprentice Mock Test - 8 - Question 21
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What does RTGS stand for in the context of financial transactions?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 21
RTGS stands for Real-Time Gross Settlement, which refers to a payment system where the transfer of funds occurs in real-time and on a gross basis. In this system, transactions are processed instantly upon receipt without netting debits against credits. This ensures that payments are settled individually and without any bundling with other transactions, leading to immediate and secure fund transfers.
Central Bank Apprentice Mock Test - 8 - Question 22
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What is one key feature that distinguishes debit cards from credit cards ?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 22

Debit cards are characterized by instantly debiting the amount spent from the user's account. This feature sets them apart from credit cards, which allow users to make purchases on credit within a specified credit limit, offering the flexibility to pay back the amount at a later date. This distinction is essential for understanding how these two types of cards function differently in terms of payment processing and account handling.

Central Bank Apprentice Mock Test - 8 - Question 23
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Which payment system involves settlement of funds transfer instructions on a one-to-one basis?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 23
The Real-Time Gross Settlement (RTGS) system involves the settlement of funds transfer instructions on a one-to-one basis. This means that each transaction is settled individually, without being netted against other transactions. RTGS ensures immediate and secure transfer of funds between banks in real-time.
Central Bank Apprentice Mock Test - 8 - Question 24
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What is the primary purpose of a Banker's Cheque in the realm of remittance products?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 24
A Banker's Cheque is primarily used for making local payments. It is a secure instrument issued by a bank, guaranteeing the payment of a specific amount to the named recipient. This type of cheque is often preferred for transactions where the payee requires assurance of funds without the risk associated with personal cheques.
Central Bank Apprentice Mock Test - 8 - Question 25
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What does NEFT stand for in the context of electronic payment systems in India?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 25
NEFT stands for National Electronic Fund Transfer, which is a nationwide electronic payment system in India that facilitates one-to-one fund transfers between bank accounts. NEFT transactions are processed in hourly batches, providing a convenient and secure way for individuals and businesses to transfer funds electronically across the country.
Central Bank Apprentice Mock Test - 8 - Question 26
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What is the primary benefit of using the Real-Time Gross Settlement (RTGS) system for fund transfers ?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 26

The primary benefit of using the Real-Time Gross Settlement (RTGS) system for fund transfers is that it is a safe mode of money transfer with no amount cap. This means that users can transfer high amounts of funds securely without any limitations on the transaction size, ensuring a reliable and secure transfer mechanism for high-value transactions.

Central Bank Apprentice Mock Test - 8 - Question 27
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What limit has been set for the service fee on outward transactions in the RTGS system for amounts between ₹2,00,000 and ₹5,00,000?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 27
For outward transactions in the RTGS system with amounts ranging from ₹2,00,000 to ₹5,00,000, the service fee is capped at not exceeding ₹30. This fee structure ensures that users are aware of the charges associated with transferring funds within this specific range, promoting transparency and clarity in financial transactions.
Central Bank Apprentice Mock Test - 8 - Question 28
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What directive has the Reserve Bank of India issued to banks regarding service fees for online-initiated fund transfers through RTGS?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 28
The Reserve Bank of India has directed all banks not to charge any service fee on transfer of funds through RTGS initiated online via internet banking and/or mobile banking. This directive aims to promote the use of online channels for fund transfers and to ensure that customers are not burdened with additional fees when conducting transactions through the RTGS system.
Central Bank Apprentice Mock Test - 8 - Question 29
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What type of transactions are free of charge in the RTGS system ?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 29

In the RTGS system, inward transactions are free of charge, as specified in the information provided. This means that there are no fees or charges levied on funds transferred into an account using the RTGS system. This policy encourages the seamless flow of funds without any additional financial burden on the recipient.

Central Bank Apprentice Mock Test - 8 - Question 30
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What is the frequency at which interest on State Development Loans (SDLs) is typically serviced?
Detailed Solution for Central Bank Apprentice Mock Test - 8 - Question 30
Interest on State Development Loans (SDLs) is usually serviced at semi-annual intervals. This periodic interest payment structure provides investors with regular income streams and contributes to the overall attractiveness of SDLs as investment instruments in the financial market.
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