• 1.  Which one of the following statements is most appropriate regarding transaction made in money?

  • It is the easiest way.
  • It is the safest way.
  • It is the cheapest way.
  • It promotes trade.
  • 2.  Which one of the following is a modem form of currency?

  • Gold
  • Silver
  • Copper
  • Paper notes
  • 3.  Which among the following authorities issues currency notes on behalf of the government?

  • Government of India
  • The State Bank of India
  • National Bank for Agriculture and Rural Development
  • Reserve Bank of India
  • 4.  In which of the following systems exchange of goods is done without use of money?

  • Credit system
  • Barter system
  • Banking system
  • Collateral system
  • 5.  Banks provide a higher rate of interest on which of the following accounts?

  • Saving account
  • Current account
  • Fixed deposits for long period
  • Fixed deposits for very short period
  • 6.  Banks use the major portion of the deposits to:

  • Keep as reserve so that people may withdraw
  • Meet their routine expenses
  • Extend loans
  • Meet renovation of bank
  • 7.  What percentage of their deposits is kept as cash by the banks in India?

  • 25%
  • 20%
  • 15%
  • 10%
  • 8.  The informal source of credit does not include which one of the following?

  • Traders
  • Friends
  • Cooperative Societies
  • Moneylenders
  • 9.  Which one of the following is the new way of providing loans to the mral poor?

  • Because the currency is authorised by the government of the country.
  • Because it is liked by the people who use it.
  • Because the use of currency has its origin in ancient times.
  • Because the currency is authorised by the World Bank.
  • 10.  Who issues the currency notes in India?

  • Currency notes are issued by the Finance Commission.
  • All the nationalized banks can issue the currency notes.
  • Only Reserve Bank of India can issue currency notes.
  • Any individual or organization can issue cur¬rency notes with the permission of the govt.
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