SEBA Class 10 Political Science and Economics MCQ Chapter 1 Financial Literacy

SEBA Class 10 Political Science and Economics MCQ Chapter 1 Financial Literacy English Medium As Per New Syllabus to each chapter is provided in the list so that you can easily browse through different chapters SEBA Class 10 Political Science and Economics MCQ Chapter 1 Financial Literacy Notes and select need one. SEBA Class 10 Political Science and Economics MCQs English Medium Download PDF. SEBA Class 10 Social Science Multiple Choice Questions in English.

SEBA Class 10 Political Science and Economics MCQ Chapter 1 Financial Literacy

Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. SEBA Class 10 Political Science and Economics MCQ Part – 3 (Economics) Notes are part of All Subject Solutions. Here we have given SEBA Class 10th Political Science and Economics MCQs in English for All Chapters, You can practice these here.

Financial Literacy

Chapter: 1

PART – III: ECONOMICS

MCQ

1. What is the card generally linked to a customer’s own bank account called?

(a) Credit Card.

(b) Debit Card.

(c) Aadhaar Card.

(d) PAN Card.

Ans: (b) Debit Card.

2. What benefit does a customer get through a credit card?

(a) To withdraw only their own deposited money.

(b) To take a loan from the bank up to a certain limit.

(c) To get money for free.

(d) None of the above.

Ans: (b) To take a loan from the bank up to a certain limit.

3. Through which of the following methods can a customer transfer money 24×7?

(a) NEFT.

(b) RTGS.

(c) IMPS.

(d) None of the above.

Ans: (c) IMPS.

4. What is the full form of UPI?

(a) Unified Payments Interface.

(b) Unique Payment Identification.

(c) Universal Payment Interface.

(d) Union Payment Interface.

Ans: (a) Unified Payments Interface.

5. Generally, what is the daily limit of a UPI transaction?

(a) 50 thousand rupees.

(b) 1 lakh rupees.

(c) 2 lakh rupees.

(d) 5 lakh rupees.

Ans: (b) 1 lakh rupees.

6. From which Italian word is the word ‘Bank’ thought to be derived?

(a) Banck.

(b) Banke.

(c) Banco.

(d) Banc.

Ans: (c) Banco.

7. In which year was India’s first bank, ‘Bank of Hindustan’, established?

(a) In 1770.

(b) In 1935.

(c) In 1870.

(d) In 1950.

Ans: (a) In 1770.

8. What is the name of the Central Bank of India?

(a) State Bank of India.

(b) Reserve Bank of India.

(c) Punjab National Bank.

(d) Bank of India.

Ans: (b) Reserve Bank of India.

9. In which year was the Reserve Bank of India established?

(a) In 1935.

(b) In 1949.

(c) In 1947.

(d) In 1950.

Ans: (a) In 1935.

10. Who holds the monopoly right to print paper currency or notes?

(a) Commercial Bank.

(b) Central Bank.

(c) Cooperative Bank.

(d) Rural Bank.

Ans: (b) Central Bank.

11. How many types of deposits do commercial banks collect?

(a) Two types.

(b) Three types.

(c) Four types.

(d) Five types.

Ans: (b) Three types.

12. In which year was the Industrial Development Bank of India (IDBI) established?

(a) In 1935.

(b) In 1964.

(c) In 1982.

(d) In 1990.

Ans: (b) In 1964.

13. In which year was NABARD established to assist with rural credit?

(a) In 1964.

(b) In 1975.

(c) In 1982.

(d) In 1992.

Ans: (c) In 1982.

14. In which year was the Small Industries Development Bank of India (SIDBI) established?

(a) In 1982.

(b) In 1990.

(c) In 1964.

(d) In 1970.

Ans: (b) In 1990.

15. What are the financial institutions that do not work like banks but provide financial services called?

(a) Central Bank.

(b) Commercial Bank.

(c) Non-Banking Financial Institution (NBFI).

(d) Rural Bank.

Ans: (c) Non-Banking Financial Institution (NBFI).