iibf exam questions and answers pdf in all language

iibf exam question and answer in english

1. We should keep our savings with
banks because
a) It is safe
b) Earns interest
c) Can be withdrawn anytime
d) All of above
2. Bank does not give loan against
a) Gold Ornaments
b) LIC policy
c) Lottery ticket
d) NSC
3. Bank having maximum number of
branches in India
a) Reserve Bank of India
b) State Bank of India
c) Punjab National Bank
d) Bank of Baroda
4. 100/- Rupee note is signed by
a) Prime Minister
b) Finance Minister
c) RBI Governor
d) None of above
5. ATM password should be kept in
a) Personal diary
b) Office diary
c) Memory
d) All of above
6. ATM password to be shared only
a) Spouse
b) Obedient son
c) Obedient daughter
d) None of above
7. Nomination can be done in
a) Savings Bank account
b) Recurring Deposit account

c) Fixed Deposit account
d) All of above

8. Who is the present Governor of RBI?
a) K.C. Chakrabarty
b) D K Mittal
c) Raghuram Rajan
d) Montek Singh Ahluwalia

is the logo of
a) Pradhan Mantri Jan Dhan Yojana
b) Central Bank of India
c) Reserve Bank of India
d) None of above
10. Minimum age required to open SB
account in the bank
a) 8 years
b) 10 years
c) 12 years
d) None of above
11. Bank does not provide loans for
a) Crop loans
b) Education loans
c) Home loans
d) Drinking & Gambling

iibf exam question and answer in english

12. KYC means
a) Know your customer
b) Know your character
c) Both of above
d) None of above
13. Loans from money lenders are
a) With High rate of interest
b) No proper accounting
c) No transparency
d) All of above

Multiple Choice Questions

14. ATM means
a) Any Time Money
b) Auto Truck of Mahindra
c) Automated Teller Machine
d) None of above
15. Timely repayment of loans results
a) Good reputation
b) No tension
c) Easily availability of loan in
d) All of above
16. Defaulter of loan means
a) Not paying loan instalments
b) Bad reputation
c) Illegal activities
d) None of above
17. Life insurance means
a) Insurance of human
b) Insurance of life of human
and Cattle
c) Insurance of Life of Machines
d) All of above
18. General Insurance relates to
insurance against
a) Fire
b) Theft
c) Burglary
d) All of above
19. Aadhaar is
a) 12 digit number card
b) Identity proof issued by
c) Both (a) & (b)
d) None of above
20. E or S means
a) East or South zone
b) Easy and Swift
c) Either or Survivor

d) None of above
21. Which is prohibited for writing on
currency notes?
a) Political message
b) Religious message
c) Personal message
d) All of above

22. PPF means
a) Pension Planning Funds
b) Person having Pension
c) Public Provident Fund
d) Permanent Practitioner’s
23. Highest denomination of currency
notes issued by RBI is
a) Rs.100/-
b) Rs.500/-
c) Rs.1,000/-
d) Rs.10,000/-
24. NRI means
a) Non Rural Individuals
b) Non Rural Immigrants
c) Non Resident Indian
d) None of above
25. PAN means
a) A kind of utensil
b) Primary Account Number
c) Permanent Account Number
d) None of above
26. Who is the present Union Finance
Minister of India?
a) Shri Arun Jaitley
b) Shri Rajnath Singh
c) Shri Manohar Parrikar
d) Shri Suresh Prabhu

27. Bank provides loans for
a) Home
b) Car
c) Education
d) All of above
28. Which currency note has security
a) Rs.50/-
b) Rs.100/-
c) Rs.500/-
d) All of above

29. The safest place for keeping money
a) A pit dug in the ground
b) An iron box
c) Bank
d) Money lender
30. Gold and silver ornaments should be
kept in bank lockers
a) It is safe
b) No risk of theft
c) Both (a) & (b)
d) None of above
31. Currency notes are issued by
a) RBI
c) Public sector banks
d) Central Government
32. Coins are issued by
a) Government of India
c) Public sector banks
d) State Bank of India

33. Bank Pass Book is
a) Issued by Bank

b) Contains transaction details
of Bank account
c) Shows balance in account
d) All of above
34. Banks pays interest on
a) Deposits
b) Loans
c) Both (a) & (b)
d) None of above
35. Bank charges interest on
a) Deposits
b) Loans
c) Both (a) & (b)
d) None of above

iibf exam question and answer in english

36. Education Loans
a) Cover tuition fee & expenses
b) Are repayable after
completion of course
c) Granted for studies in India &
d) All of above
37. Business Correspondent means
a) An agent who provides
banking services
b) An agent of business house
c) A type of money lender
d) None of above
38. Internet banking refers to
a) Operation of account
through internet
b) Opening of account through
c) Both (a) & (b)
d) None of above
39. Nomination once done can
a) Not be cancelled

b) Be cancelled
c) Not be changed
d) None of above
40. Who can open bank account?
a) Indian citizen
b) Non Resident Indian
c) Illiterate
d) All of above
41. PAN number is required for
a) Deposits less than
b) Deposits in excess of Rs.1 lac
c) Deposits Rs.50,000/- &
d) All transactions
42. TDS means
a) Time Deposit Scheme
b) Total Deposit Scheme
c) Tax Deducted at Source
d) None of above

43. Maximum amount of Cheque
a) Rs.100 crore
b) No limit
c) Rs.1 crore
d) None of above
44. Bank draft is issued by
a) Private Sector Banks
b) Regional Rural Banks
c) Public Sector Banks
d) All of above
45. Self Help Group involves
a) Group of 5 to 20 people
b) Regular saving habits
c) Inter-lending within the
group members
d) All of above

46. Payment of cheque can be stopped
a) Beneficiary
b) Nominee
c) Drawer of cheque
d) All of above
47. Account payee cheques can be paid
a) At cash counter of Bank
b) At ATM
c) By deposit in Bank account
d) None of above
48. In Recurring Deposits,
a) a fixed sum is deposited
every month
b) period of deposit is a fixed
c) interest is paid at FDR rate
d) All of above
49. While making nomination, signature
of nominee is required on
a) Account Opening Form
b) Nomination form
c) Affidavit
d) None of above

50. Interest on Savings Bank Deposits is
a) Every month
b) Quarterly
c) Half yearly
d) Yearly
51. Mutilated notes
a) should be burnt away
b) should be thrown away
c) can be exchanged at Bank
d) None of above

52. ATM can be used for
a) Cash withdrawal
b) Account enquiry
c) Statement of account
d) All of above
53. Upon detection of a counterfeit note
at the counter, Bank
a) Returns the note to the
b) Exchange with a genuine
c) Deposit in Account
d) Impound the Note and issue
54. Fixed Deposit can
a) not be withdrawn before
b) paid only after maturity
c) withdrawn before maturity
d) All of above
55. Interest on FDRs is compounded on
a) Monthly basis
b) Quarterly basis
c) Half yearly basis
d) Yearly basis
56. Contents of locker are
a) only known to hirer
b) known to Bank
c) Both (a) & (b)
d) None of above

57. If locker rent is not paid, Bank can
a) seal the locker
b) stop operation of locker
c) break open the locker after
giving suitable notice
d) All of above

58. MGNREGS stands for
a) Mahatma Gandhi National
Rural Employment
Generation Scheme
b) Mahatma Gandhi Nutrition &
Rural Employment
Generation Scheme
c) Mahatma Gandhi National
Rural Employment
Guarantee Scheme
d) None of above
59. Maximum tenure of Fixed Deposit is
a) 5 years
b) 7 years
c) 8 years
d) 10 years
60. What is RuPay Debit Card?
a) Domestic debit card
b) Introduced by National
Payments Corporation of
c) Accepted at all ATMs & PoS
d) All of above
61. To whom Overdraft facility of
Rs.5,000/- in PMJDY Account is
a) After 6 months of
satisfactory conduct of
b) One account per household
c) Customers in age group of
18-60 years
d) All of above
62. What is Direct Benefit Transfer?
a) Cash discount on goods
b) Remittance through Banks
c) Transfer of social benefits /
subsidies directly in Bank
accounts of beneficiaries

d) None of above
63. What is meant by Aadhaar seeding?
a) Linking of Aadhaar with Bank
b) Duplicate issuance of
c) Transfer of Aadhaar
d) None of above

64. What are the benefits attached to
a) Accident insurance cover of
Rs.1.00 lac
b) Life insurance cover of
c) Overdraft facility up to
d) All of above
65. Who can open an account under
a) Minor above the age of 10
b) Only lady of the house
c) Only head of the family
d) All of above
66. Who is Bank Mitra?
a) Banking Correspondents
engaged by Banks
b) Valuable customer of Bank
c) Security guard in a branch
d) None of above

67. What is the maximum amount of
deposits acceptable in Small accounts?
a) Rs.30,000/-
b) Rs.40,000/-
c) Rs.50,000/-
d) None of above

68. What kinds of services are available
free in ‘Basic Savings Bank Deposit
a) Receipt / credit of money
through NEFT / RTGS
b) No annual maintenance
charges on ATM-cum-Debit
c) 4 withdrawals in a month
(including ATM withdrawals)
d) All of above
69. What is the minimum deposit
required while opening a BSBD Account?
a) Rs.100/-
b) No minimum deposit
c) Rs.1,000/-
d) Rs.500/-
70 What is Atal Pension Yojana (APY)?
a) Provides social security to
the unorganized sector
b) Encourages workers to
voluntarily save for their retirement
c) Fixed pension is paid on
attaining age of 60 years
d) All of above

71. What is Pradhan Mantri Suraksha
Bima Yojana (PMSBY)?
a) Accidental insurance cover
b) Life insurance cover
c) Overdraft up to Rs.5,000/-
d) None of above

72. What is Pradhan Mantri Jivan Jyoti
Bima Yojana (PMJJBY)?
a) Covers life insurance up to
Rs.2 lac
b) Accident insurance cover

c) Both (a) & (b)
d) None of above
73. Which type of deposits earns higher
interest rate?
a) Current account
b) Savings Account
c) Fixed Deposits
d) None of above
74. Under PMSBY, accidental death
claim is available for:
a) Rs.1 lac
b) Rs.2 lac
c) Rs.3 lac
d) None of above
75. What is validity period of cheque?
a) 4 months from date of issue
b) 3 months from date of issue
c) 1 month from date of issue
d) Unlimited
76. Under PMSBY, partial disability claim
is available for:
a) Rs.50,000/-
b) Rs.1 lac
c) Rs.2 lac
d) None of above
77. Can illiterate person be issued Debit
a) No
b) Yes
c) Only in case of joint account
d) Only in case he is head of

78. Under APY, fixed pension can be
chosen from:

a) Rs.1,000/-, Rs.2,000/-,
Rs.3,000/-, Rs.4,000/-, Rs.5,000/-
b) Rs.2,000/-, Rs.3,000/-,
Rs.4,000/-, Rs.5,000/-, Rs.6,000/-
c) Rs.500/-, Rs.1,000/-,
Rs.2,000/-, Rs.3,000/-, Rs.4,000/-
d) None of above
79. PMJDY LIC Insurance of Rs.30,000/-
is available for first time accounts
opened a) On 15th
August 2014
b) On 26th January 2015
c) Between 15th August 2014
and 26th January 2015
d) None of above
80. _______ are not covered under
PMJDY Life Insurance Scheme of
a) Employees of Central / State
Govt. / Public Sector
Undertakings / Banks
b) Income Tax Payee
c) Aam Aadmi Bima Yojana
d) All of above

Answer Key

Q. A. Q. A. Q. A. Q. A. 1 d 21 d 41 c 61 d 2 c 22 c 42 c 62 c 3 b 23 c 43 b 63 a 4 c 24 c 44 d 64 d 5 c 25 c 45 d 65 d 6 d 26 a 46 c 66 a 7 d 27 d 47 c 67 c 8 c 28 d 48 d 68 d 9 a 29 c 49 d 69 b

Q1. What does PMMY Stand for?
a) Pradhan Mantri Money Yojana
b) Pradhan Mantri Mudra Yojana
c) Primary Money Market Yojana
Q2. What is the maximum loan amount available under PMMY?
a) ` 5.00 lacs
b) ` 10.00 lacs
c) ` 50.00 lacs
Q3. How much loan can be availed under “Shishu” Category?
a) ` 10,000/-
b) ` 50,000/-
c) ` 1,00,000/-
Q4. Loan of ` 5 lacs is covered under which category?
a) Shishu
b) Kishore
c) Tarun
Q5. What is the purpose for which MUDRA loan can be availed for carrying on any activity
related to_______________?
a) Manufacturing, Processing, Trading, Services
b) Personal loan
c) Investment in Shares, commodities in Primary or Secondary Market
Q6. PMMY Loan is given for which purpose?
a) Income Generation Purpose
b) Consumption Purpose
c) Both of above
Q7. What are the Collateral /securities to be kept with Banks for getting loans for MSE under
a) Mortgage of movable or immovable Assets
b) Third Party Guarantee
c) NIL
Q8. Who can avail the PMMY loan? a) Any Indian Citizen
b) Any firm, body corporate, company, or any other entity incorporated in India
c) Both (a) and (b)
Q9. From where the PMMY loan can be availed?
a) Public Sector Banks, Private Sector Banks, Foreign Banks, Cooperative Banks,
RRBs, NBFCs and MFIs
b) Directly from MUDRA

Multi Choice Questions on MUDRA Loans under PMMY

c) Both a) and b)
Q10. PMMY Loan can be availed from the bank in which_________?
a) the customer has the banking relation with the Bank
b) the customer does not have the prior banking relationship (saving / current account)
with the bank
c) Both a) and b) c)

Q11. What is the role of MUDRA under PMMY Loans?
a) MUDRA is a direct lending Institution and lends to small /micro units
entrepreneurs directly for PMMY
b) Acts as a Refinance Agency and refinances to all banks, NBFCs, MFIs for onward
lending to customers under different categories of PMMY loans, as per need of
the customer.
c) MUDRA is regulator of banks
Q12. The borrowers can avail the credit in a hassle free and flexible manner with the MUDRA
CARD which is a______________
a) Debit Card with Sanctioned limit
b) Credit Card
c) Ordinary Debit Card
Q13. MUDRA Card is a debit card on which payment platform?
a) RuPay
b) Visa
c) MasterCard
Q14. What is the use of MUDRA Card? And how it can be used?
a) In drawing cash from ATM or Business Correspondent
b) Make purchases using Point of Sale (POS) machine.
c) Both of above
Q15. Who issue the MUDRA Card to customer?
a) Banks either directly or in association with MFIs
b) MFIs directly
Q16. PMMY loans are applicable to ___________?
a) all banks all over India
b) within the Notified areas / locations in India
c) all banks all over India and abroad
Q17. What are the Interest rates of the PMMY loans extended by banks, NBFCs, MFIs to the

a) Reasonable rates decided by lending banks, NBFCs, MFIs that should fall within
the overall RBI Guidelines
b) The rates as prescribed by MUDRA
c) Uniform rates as stipulated by the RBI
Q18. PPMY Loans are provided for what Tenure?
a) 1 year
b) 2 year
c) depends on cash flows of the business and decided by the lending Institution
Q19. What is the grievance redressal mechanism available against bank officials, in the event
of non-sanction of loan?
a) The matter can be escalated to the next higher office (region / Zone) on the Bank
b) Customer can register complaint on Banks Nodal Officer-PMMY or PMMY
Mission office or PMMY Toll Free
c) Both of above
Q20. What are the documents that are required to be submitted for availing loans under
MUDRA? a) Standard Loan Application Form
b) KYC, and other documents as may require as per internal guidelines of lending bank /
c) Both of above
Q21. Who monitors the implementation of PMMY progress at National level?
a) MUDRA/Department of Financial Services
b) State Level Bankers Committee (SLBC)
c) Both
Q22. Where are the Frequently Asked Questions (FAQs) on PMMY Loans available for
information of the Lending Institutions/public?
a) DFS website
b) PMO website
c) MUDRA website
Q23. Sample Project Profiles for running or setting up of micro/small enterprises is available
a) DFS website
b) MUDRA website
c) PMO website
Q24. MUDRA has been set up by whom? a) Government of India
b) RBI
Q25. The loans sanctioned by banks/ NBFCs/ MFIs on or after _____________ upto `10 lacs
for small business income generating activities are known as PMMY loans.
a) 18-Mar-15
b) 08-Apr-15
c) 20-May-15

Q26. What is the amount of overdraft facility sanctioned under PMJDY is classified as MUDRA
loans under PMMY?
a) `5,000/-
b) `10,000/-
c) `15,000/-
Q27. Who is eligible to get the MUDRA Loans under PMMY out of following borrowers?
a) Large Corporates
b) Municipal Corporations
c) Small fruit vendors, vegetables sellers etc.
Q28. Total loans sanctioned/ disbursed under PMMY is accessible to _________ for
information of the Banks/ NBFCs / MFIs, General Public at large.
a) DFS website
b) MUDRA Portal
c) PMO website
Q29. All PMMY loans will be governed by _______________, formulated by MUDRA, in
consultation with DFS, rating agencies, MFIN and Sa-Dhan and other stakeholders for adoption
by all the lending institutions.
a) MUDRA Loan Code of Lending
b) MUDRA Loan Charter
c) PMMY Loan Charter
Q30. MUDRA scheme is applicable to which type of MSE businesses under Income Generation
a) Newly start ups
b) Existing business for expansion or upgradation
c) Both a) and b)

Answer Key

1 b) 11 b) 21 a)
2 b) 12 a) 22 c)
3 b) 13 a) 23 b)
4 b) 14 c) 24 a)
5 a) 15 a) 25 b)
6 a) 16 a) 26 a)
7 c) 17 a) 27 c)
8 c) 18 c) 28 b)
9 a) 19 c) 29 b)
10 c) 20 c) 30 c)


Updated: April 4, 2021 — 1:56 pm