Banking Exam IBPS PO 4

Question 1

The 'SWIFT' code used in international banking transactions stands for:

Accepted Answer

Society for Worldwide Interbank Financial Telecommunication

Answer

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication, a messaging network used for international money transfers.

Question 2

Which of the following is the correct definition of 'Reverse Repo Rate'?

Accepted Answer

The rate at which commercial banks park their excess funds with RBI

Answer

Reverse repo rate is the rate at which the RBI absorbs liquidity from banks by borrowing money from them.

Question 3

In IBPS PO computer knowledge, RAM refers to:

Accepted Answer

Random Access Memory

Answer

RAM (Random Access Memory) is volatile primary storage used by computers to store data that is actively being used or processed.

Question 4

A sum of Rs. 5,000 is invested at 8% per annum simple interest for 3 years. What is the total amount at maturity?

Accepted Answer

Rs. 6,200

Answer

SI = (5000 × 8 × 3)/100 = Rs. 1,200; Total amount = 5000 + 1200 = Rs. 6,200.

Question 5

The IBPS PO mains exam includes a 'Descriptive Test' that primarily assesses:

Accepted Answer

Letter writing and essay writing skills in English

Answer

The IBPS PO Mains Descriptive Test evaluates written English communication through a formal letter and an essay, each carrying specific marks.

Banking Exam Practice Test