The 10 PM Daily Quiz – 11 April, 2016

Hi Friends,

Starting Monday, March 28, 2016 We are taking up a new initiatives for Prelims 2016 . We will be posting a 7-10 Questions Quiz based on 9 PM Brief, on a daily basis.

The purpose of these is to enable practise on a daily level for you to prepare Current Affairs for Civil Services Prelims Examination. This questions will be moderate level and it is expected of you solve these questions with decent overview of 9 PM Brief

Please type your answers in the comments below .

Note : Answers to the quiz will be posted one day later.

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Q.1) The RV Easwar Committee gave recommendations on:
a) Simplification of income tax laws
b) Goods and Services Tax in India
c) Banking reforms
d) Crude oil and gas pricing

Q.2) RBI and the Securities and Exchange Board of India (Sebi) are set to launch cross-currency derivatives trading, Which of the following statements is/are true about cross currency derivative trading?

1. Cross currency trading will help bypass first converting the Rupee to US dollars.
2. Trading timings will only cover Japanese and European markets.

Select the correct answer using the codes below
a) 1 only
b) 2 only
c) Both are correct
d) Neither are correct

Q.3) Consider the following statements regarding  features of  Differentiated Bank

1. These are highly specialised banking entities focusing on target group of customers.
2. An entity with a Differentiated Bank License will have to  engage in basic banking activities and they also have to adhere to priority sector obligations.

Select the correct answer using the codes below
a) 1 only
b) 2 only
c) Both are correct
d) Neither are correct

Q.4) Consider the following statements regarding Clearing Corporation of India Ltd (CCIL)

1. It provide guaranteed clearing and settlement functions for transactions in Money, G-Secs, Foreign Exchange and Derivative markets.
2. CCIL acts as a central counterparty in various segments of the financial markets regulated by the SEBI.
3. It provides non-guaranteed settlement for Rupee interest rate derivatives and cross currency transactions through the Continuous Linked Settlement (CLS)  Bank.

Select the correct answer using the codes below:
a)  1 and 2
b) 2 and 3
c) 1 and 3
d) 1, 2 and 3

Q.5) Consider the following pairs

    Crops                    Season

1. Mustard                     Kharif
2. Peas                            Rabi
3. Pumpkin                    Zaid  

Which of the following are correctly matched?
a) 1 and 2
b) 1, 2 and 3
c) 2 only
d) 2 and 3

Q.6) Puttingal Devi temple in Kerala’s Kollam district was in news recently for a tragedy. What is the meaning of “Puttu”?

a) Ant hill
b) Light and fire
c) Banyan tree
d) A type of grain

Q.7) Consider the following statements

1.These banks  specialize in large and complex financial transactions such as underwriting.

2.These banks act as an intermediary between a securities issuer and the investing public, facilitating mergers and other corporate reorganizations.
3.These banks act  as a broker and/or financial adviser for institutional clients.

Above statements are referred to which of the following type of bank?

a) Payment bank
b) Investment bank
c) Custodian bank
d) Wholesale bank