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Objective Questions

Latest Amethi BC Sakhi Gram Panchayat Exam Question (Objective Questions), MCQ in English

Subjects : Professional Knowledge, Arithmetic & Logic

Question Bank Amethi BC Sakhi Gram Panchayat Exam - English
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Professional Knowledge

Question 1Single Answer
Which type of bank account is primarily designed to encourage individuals to save money while earning interest on the deposited balance?
  1. A
    Savings Bank Account
  2. B
    Loan Account
  3. C
    Current Account
  4. D
    Cash Credit Account
Question 2Single Answer
Which document is generally considered an officially valid proof of identity as per KYC norms for opening a bank account in India?
  1. A
    Electricity Bill
  2. B
    Aadhaar Card
  3. C
    Library Membership Card
  4. D
    School Timetable
Question 3Single Answer
What is the main objective of a Fixed Deposit account offered by commercial banks?
  1. A
    Daily business transactions
  2. B
    Unlimited withdrawals without restrictions
  3. C
    Long-term investment with a fixed tenure and interest rate
  4. D
    Receiving government subsidies only
Question 4Single Answer
Which banking product allows customers to deposit a fixed amount at regular intervals for a predetermined period?
  1. A
    Current Account
  2. B
    Recurring Deposit
  3. C
    Overdraft Account
  4. D
    Demat Account
Question 5Single Answer
Which account type is generally preferred by traders and business establishments that perform frequent banking transactions?
  1. A
    Savings Account
  2. B
    Current Account
  3. C
    Recurring Deposit Account
  4. D
    Pension Account
Question 6Single Answer
Under KYC guidelines, what is the primary purpose of collecting customer identification documents before opening an account?
  1. A
    Increasing branch profits
  2. B
    Preventing misuse of banking channels and establishing customer identity
  3. C
    Promoting insurance products
  4. D
    Determining voting eligibility
Question 7Single Answer
Which document among the following can serve as both proof of identity and proof of address in many banking situations?
  1. A
    Railway Platform Ticket
  2. B
    Movie Ticket
  3. C
    Aadhaar Card
  4. D
    Visiting Card
Question 8Single Answer
What is generally the first step when a customer wants to deposit cash into a bank account at a branch counter?
  1. A
    Collect a withdrawal form
  2. B
    Close the account
  3. C
    Apply for a debit card
  4. D
    Fill up a deposit slip with account details
Question 9Single Answer
During a cash withdrawal from a bank branch, what information is most critical on the withdrawal form or cheque?
  1. A
    Account holder's signature matching bank records
  2. B
    Customer's favorite color
  3. C
    Occupation details
  4. D
    Educational qualification
Question 10Single Answer
What is the primary function of passbook updating in a savings account?
  1. A
    Issuing a loan
  2. B
    Changing account ownership
  3. C
    Recording all account transactions and balances
  4. D
    Calculating income tax
Question 11Single Answer
Which of the following is a characteristic feature of a Savings Bank account?
  1. A
    Generally earns interest on deposited funds
  2. B
    Designed mainly for business transactions
  3. C
    Requires monthly installments compulsorily
  4. D
    Cannot receive direct benefit transfers
Question 12Single Answer
What does the term 'KYC' stand for in the banking sector?
  1. A
    Keep Your Cash
  2. B
    Know Your Currency
  3. C
    Know Your Customer
  4. D
    Keep Your Credit
Question 13Single Answer
Which government-issued document is specifically mentioned under simplified KYC norms for certain categories of customers in rural areas?
  1. A
    Cinema Pass
  2. B
    MGNREGA Job Card
  3. C
    Club Membership Card
  4. D
    Hotel Receipt
Question 14Single Answer
Why is PAN often requested by banks while opening certain types of accounts or conducting high-value transactions?
  1. A
    To verify academic qualifications
  2. B
    To verify driving skills
  3. C
    To determine caste category
  4. D
    To monitor tax-related financial transactions
Question 15Single Answer
Which deposit scheme generally offers a higher interest rate than a regular savings account due to a fixed lock-in period?
  1. A
    Overdraft Facility
  2. B
    Current Account
  3. C
    Cash Credit
  4. D
    Fixed Deposit
Question 16Single Answer
In a Recurring Deposit account, what usually happens if the depositor consistently deposits the agreed installment every month?
  1. A
    The account is converted into a current account
  2. B
    The account is permanently frozen
  3. C
    The interest rate becomes zero
  4. D
    A maturity amount is accumulated with interest
Question 17Single Answer
What is the significance of obtaining a customer's recent photograph during the account opening process?
  1. A
    Entertainment purpose
  2. B
    Customer identification and record maintenance
  3. C
    Marketing survey only
  4. D
    Determining account interest rates
Question 18Single Answer
Which account is least suitable for a person who performs numerous business-related deposits and withdrawals every day?
  1. A
    Current Account
  2. B
    Cash Credit Account
  3. C
    Savings Account
  4. D
    Merchant Account
Question 19Single Answer
What is meant by a balance inquiry in banking operations?
  1. A
    Requesting a loan sanction letter
  2. B
    Checking the available amount in an account
  3. C
    Applying for a new passbook
  4. D
    Updating nominee details
Question 20Single Answer
Why is customer signature verification important before allowing a withdrawal transaction?
  1. A
    To determine account type
  2. B
    To calculate interest rates
  3. C
    To prevent unauthorized access to funds
  4. D
    To issue a passbook
Question 21Single Answer
Which of the following is generally not a deposit product?
  1. A
    Fixed Deposit
  2. B
    Personal Loan
  3. C
    Savings Account
  4. D
    Recurring Deposit
Question 22Single Answer
What is the maturity amount in a Fixed Deposit account?
  1. A
    Annual maintenance charge
  2. B
    Only the original deposit amount
  3. C
    Only the interest earned
  4. D
    Total of principal and applicable interest at the end of tenure
Question 23Single Answer
Which banking document contains transaction history printed in chronological order for account holders?
  1. A
    PAN Card
  2. B
    Debit Card
  3. C
    Aadhaar Card
  4. D
    Passbook
Question 24Single Answer
What is the primary benefit of updating a passbook regularly?
  1. A
    Increases interest rate automatically
  2. B
    Eliminates KYC requirements
  3. C
    Converts savings account into FD
  4. D
    Helps monitor account transactions and detect discrepancies
Question 25Single Answer
Which account type usually has no restriction on the number of withdrawals for business purposes?
  1. A
    Fixed Deposit Account
  2. B
    Recurring Deposit Account
  3. C
    Minor Savings Account
  4. D
    Current Account
Question 26Single Answer
What is the role of a nominee in a bank account?
  1. A
    To manage branch operations
  2. B
    To approve loans
  3. C
    To receive account proceeds in case of the account holder's death
  4. D
    To calculate interest
Question 27Single Answer
Why are KYC records periodically updated by banks?
  1. A
    To reduce branch working hours
  2. B
    To ensure customer information remains accurate and compliant
  3. C
    To eliminate account statements
  4. D
    To increase minimum balance requirements
Question 28Single Answer
Which account is most suitable for salaried individuals seeking safe savings with easy access to funds?
  1. A
    Cash Credit Account
  2. B
    Current Account
  3. C
    Savings Bank Account
  4. D
    Bill Discounting Account
Question 29Single Answer
Which banking transaction directly increases the balance available in a customer's account?
  1. A
    Cash Withdrawal
  2. B
    Cash Deposit
  3. C
    Service Charge Deduction
  4. D
    ATM Annual Fee
Question 30Single Answer
What is the purpose of obtaining proof of address under KYC compliance?
  1. A
    To determine educational level
  2. B
    To estimate agricultural income
  3. C
    To assign voting rights
  4. D
    To establish the customer's residential location
Question 31Single Answer
Which feature distinguishes a Recurring Deposit from a Fixed Deposit?
  1. A
    Regular monthly contributions are required in RD
  2. B
    RD never earns interest
  3. C
    FD allows only business transactions
  4. D
    RD has no maturity period
Question 32Single Answer
Why is accurate account number entry essential during cash deposit transactions?
  1. A
    To issue cheque books
  2. B
    To determine branch timings
  3. C
    To calculate GST
  4. D
    To ensure funds are credited to the intended account
Question 33Single Answer
Which account is commonly opened for short-term savings while maintaining liquidity?
  1. A
    Savings Account
  2. B
    Cash Credit Account
  3. C
    Loan Account
  4. D
    Mortgage Account
Question 34Single Answer
What is a key advantage of Fixed Deposits for conservative investors?
  1. A
    Guaranteed return subject to bank terms
  2. B
    Unlimited stock market gains
  3. C
    Daily change in principal value
  4. D
    No maturity date
Question 35Single Answer
Which KYC document is primarily associated with income tax identification in India?
  1. A
    Voter ID Card
  2. B
    PAN Card
  3. C
    Ration Card
  4. D
    Library Card
Question 36Single Answer
What is generally required before a passbook can be updated at a branch kiosk?
  1. A
    Availability of the account record in the banking system
  2. B
    Loan approval letter
  3. C
    Income certificate
  4. D
    Insurance policy number
Question 37Single Answer
Why are customer details recorded in the account opening form?
  1. A
    To assess academic performance
  2. B
    To determine election constituency
  3. C
    To issue driving licenses
  4. D
    For legal identification and banking relationship management
Question 38Single Answer
Which banking account generally facilitates salary credit, utility payments, and ATM withdrawals?
  1. A
    Savings Account
  2. B
    Fixed Deposit
  3. C
    Current Account Only
  4. D
    Loan Account
Question 39Single Answer
What happens when cash is withdrawn from an account?
  1. A
    Account balance increases
  2. B
    Interest doubles immediately
  3. C
    Account balance decreases by the withdrawal amount and applicable charges
  4. D
    Account closes automatically
Question 40Single Answer
Which factor most directly affects the interest earned on a Fixed Deposit?
  1. A
    Customer's educational qualification
  2. B
    Deposit amount, tenure, and applicable interest rate
  3. C
    Voter registration status
  4. D
    Branch building size
Question 41Single Answer
Which banking account type is generally unsuitable for earning regular interest on deposited balances due to its transaction-oriented nature?
  1. A
    Fixed Deposit Account
  2. B
    Savings Account
  3. C
    Current Account
  4. D
    Recurring Deposit Account
Question 42Single Answer
What is the primary purpose of obtaining a customer's PAN while conducting specified high-value financial transactions?
  1. A
    Tracking educational records
  2. B
    Assessing property ownership
  3. C
    Determining voting eligibility
  4. D
    Facilitating tax compliance and financial transparency
Question 43Single Answer
Which banking activity is most likely to require re-KYC verification when customer information becomes outdated?
  1. A
    Issuing a transaction receipt
  2. B
    Updating customer identity and address records
  3. C
    Printing a passbook entry
  4. D
    Calculating account interest
Question 44Single Answer
What is the principal reason banks insist on matching withdrawal signatures with specimen signatures available in their records?
  1. A
    To ensure transaction authenticity and prevent fraud
  2. B
    To estimate account profitability
  3. C
    To verify educational qualifications
  4. D
    To assign account numbers
Question 45Single Answer
Which account would generally be most appropriate for a small shopkeeper making multiple deposits and withdrawals every business day?
  1. A
    Fixed Deposit Account
  2. B
    Pension Account
  3. C
    Recurring Deposit Account
  4. D
    Current Account
Question 46Single Answer
What is the significance of customer due diligence in the KYC process?
  1. A
    Assessing entertainment preferences
  2. B
    Determining social status
  3. C
    Identifying and verifying customer identity and risk profile
  4. D
    Issuing debit cards automatically
Question 47Single Answer
Which feature of a Recurring Deposit account promotes disciplined financial behavior among customers?
  1. A
    Unlimited overdraft facility
  2. B
    Daily interest revisions
  3. C
    Mandatory periodic deposits over a fixed tenure
  4. D
    Continuous withdrawals without limits
Question 48Single Answer
During a cash deposit transaction, what is the purpose of mentioning the depositor's account number accurately?
  1. A
    To ensure funds reach the intended beneficiary account
  2. B
    To calculate GST liability
  3. C
    To generate a loan application
  4. D
    To verify educational background
Question 49Single Answer
Which banking document serves as evidence that a cash deposit transaction has been accepted by the bank?
  1. A
    Election identity card
  2. B
    Aadhaar enrollment slip
  3. C
    PAN allotment letter
  4. D
    Deposit receipt acknowledged by the bank
Question 50Single Answer
What is the most important consideration while updating a passbook at a self-service kiosk?
  1. A
    Place of birth
  2. B
    Customer's annual income
  3. C
    Type of mobile phone used
  4. D
    Availability of transaction data in the banking system
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