In order to aid your exam preparation, we are presenting a ‘Banking Awareness Quiz’ that you can score well in this section.
Q1. As per MSMED Act 2006, In providing or rendering of services, Small Enterprise is an enterprise where investment in plant and machinery is more than _________
A. 10 lakh
B. 25 lakh
C. 35 lakh
D. 45 lakh
E. None of these
Q2. As per MSMED Act 2006, In providing or rendering of services, Small Enterprise is an enterprise where investment in plant and machinery does not exceed _____
A. 8 crore
B. 7 crore
C. 6 crore
D. 2 crore
E. None of these
Q3. If the tangible net worth of the company, as per the latest audited balance sheet, is not less than ______ crore, then the corporate would be eligible to issue CP.
A. 4 crore
B. 3 crore
C. 2 crore
D. 5 crore
E. None of these
Q4. Which of the following is an unsecured money market instrument issued in the form of a promissory note?
A. Demand Draft
B. Primary Lending Certificates
C. Commercial Paper
D. All of these
E. None of these
Q5. Is there any limit on the amount of compensation as specified in an Award?
A. Rs. 10 lakh
B. Rs. 18 lakh
C. Rs. 15 lakh
D. Rs. 20 lakh
E. None of these
Q6. If the compensation sought from the Banking Ombudsman is beyond _____the Banking Ombudsman may reject a complaint at any stage.
A. Rs. 5 lakh
B. Rs. 10 lakh
C. Rs. 15 lakh
D. Rs. 20 lakh
E. None of these
Q7. Bank loans up to ____ per unit to Medium Enterprises under priority sector.
A. Rs. 10 crore
B. Rs. 18 crore
C. Rs. 15 crore
D. Rs. 20 crore
E. None of these
Q8. Loans to individuals for educational purposes including vocational courses up to _______ irrespective of the sanctioned amount are eligible for classification under priority sector.
A. Rs. 5 lakh
B. Rs. 10 lakh
C. Rs. 15 lakh
D. Rs. 20 lakh
E. None of these
Q9. What is the rate applicable under CGST to a registered person being a manufacturer opting to pay taxes under composition scheme?
A. 2.5%
B. 1%
C. 0%
D. No composition for manufacturer
E. None of these
Q10. What is the rate applicable under CGST to a registered person opting to taxes under composition scheme, not being a manufacturer or an hotelier?
A. 1%
B. 2.5%
C. 0.5%
D. 3%
E. None of these
| ANSWER |
| 1. A. 10 lakh | 6. D. Rs. 20 lakh |
| 2. D. 2 crore | 7. A. Rs. 10 crore |
| 3. A. 4 crore | 8. B. Rs. 10 lakh |
| 4. C. Commercial Paper | 9. B. 1% |
| 5. D. Rs. 20 lakh | 10. C. 0.5% |
