BBA 3855: Banking & Insurance Exam

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What is the full form of IPS in banking?

Interbank Payment service

internet payment system

international payment system

Inter Bank Payment System (correct)

What is the minimum total capital that must be mentioned by BFIS (including capital conservation buffer)?

10

8.5 (correct)

6.5

11

When was Basel-III introduced?

November 2008

November 2010 (correct)

April 2009

December 2010

Which bank started the first internet banking service?

Everest Bank Signup and view all the answers

How many commercial banks are there in Nepal at present?

21 Signup and view all the answers

What does POS stand for?

Point of Sales Signup and view all the answers

What is the primary purpose of accelerated death benefits in life insurance policies?

To provide financial support to terminally ill policyholders Signup and view all the answers

Which of the following services is NOT typically offered by internet banking platforms?

Cash withdrawal from ATMs Signup and view all the answers

Who is the first governor of Nepal Rastra Bank?

Mahaprasad Adhikari Signup and view all the answers

What type of cheque is considered the safest because it cannot be encashed over the counter and requires the payee's account to deposit the funds?

Crossed Cheque Signup and view all the answers

What is the primary function of a central bank?

To regulate the money supply and maintain financial stability Signup and view all the answers

What is the primary principle that distinguishes Islamic banking from conventional banking?

Profit-and-loss sharing Signup and view all the answers

What is the primary purpose of a term insurance policy?

To provide a death benefit to the policyholder's beneficiaries Signup and view all the answers

In what year was the Bank of England established?

1694 Signup and view all the answers

What is the minimum paid-up capital of a national level development bank in Nepal?

1.2 Arba Signup and view all the answers

When was Nepal Rastra Bank established?

none of the above Signup and view all the answers

Which is the first joint venture bank of Nepal?

Nepal Grindlays Signup and view all the answers

What is the first commercial bank of Nepal?

Nepal Bank Limited Signup and view all the answers

What is the primary purpose of Basel?

To regulate banking sectors globally Signup and view all the answers

What is Tier 1 capital composed of?

Equity capital and disclosed reserves Signup and view all the answers

What is the main challenge faced by the banking sector in Nepal?

Inadequate regulation and supervision Signup and view all the answers

What is the primary role of a financial advisor?

To provide recommendations on financial products Signup and view all the answers

What is the main purpose of life insurance?

To minimize uncertain risks and ensure financial security Signup and view all the answers

What happens if an individual does not have adequate life insurance coverage?

Their family's financial stability is potentially impacted Signup and view all the answers

What type of insurance provides coverage for damage to your own vehicle?

Auto insurance Signup and view all the answers

What is not a function of a central bank?

Regulating fiscal policy Signup and view all the answers

What does SLR stand for in banking?

Statutory Liquidity Ratio Signup and view all the answers

Which of the following is not a subject matter of marine insurance?

Fire insurance Signup and view all the answers

How do banks read codes on cheques?

MICR Signup and view all the answers

What is the purpose of an arbitration clause in insurance contracts?

To provide a mechanism for resolving disputes outside of the court system Signup and view all the answers