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Q:

When referring to student loans what is a grace period?

A) 6 months B) 12 months
C) 18 months D) 24 months

Answer:   A) 6 months



Explanation:

6 months after graduating or quitting school when you have to start paying back the loans.

 

A grace period is one term that’s provided for student loans that allow you to delay payments up to a certain length of time, without penalty. During a grace period no late charges would apply, and the loan would not risk falling into default for missed payments. The grace period allows you time to find financial stability prior to having to make payments on your student loans.

 

Many students use student loans to help pay for their college expenses, including tuition, books, room and board, and other living expenses. Students are expected to repay these loans when they graduate.

Subject: Bank Interview
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO
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A debit may signify an

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Answer & Explanation Answer: A) Increase in asset account

Explanation:

A debit can signify an increase in asset, an expense, and the owner's drawings. A debit can also signify a decrease in a liability, revenues and owner's equity.

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Loan and Advances of a bank come under the category of______________.

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Explanation:
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State Bank of India recently launched 'SBI Exclusif'. It is a ____ product.

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Answer & Explanation Answer: A) Wealth Management

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Headquarters of State Bank of India is in

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Answer & Explanation Answer: C) Mumbai

Explanation:

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5 2367
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Which of the following terms is not used in banking sector?

A) Daily Product Basis B) Remittancel
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Answer & Explanation Answer: D) Actuary

Explanation:

Actuary is the term which is not used in banking sector.

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Q:

Foreign Exchange Rates refer to the

Answer

A foreign exchange rate is the price of the domestic currency stated in terms of another currency.

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3 2388
Q:

Financial statements are prepared from which trial balance?

A) Unadjusted trial balance B) Adjusted trial balance
C) Post- closing trial balance D) None of the above
 
Answer & Explanation Answer: B) Adjusted trial balance

Explanation:

Financial statements can be prepared from the Adjusted trial balance. A trial balance is a report containing list of all the general ledger accounts i.e, debits and credits contained in the ledger of a business. The types of trial balance include : Unadjusted trial balance, Adjusted trial balance and the Post- closing trial balance.

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Commercial banks are funded through which of the following?

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Answer & Explanation Answer: A) Customer deposits

Explanation:

A commercial bank is a financial body which performs the functions of accepting deposits from the general public and giving short term loans for investment with the aim of earning profit.

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