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GDP, Automation, and Banking Concepts Quiz

This document contains 50 multiple choice questions related to various topics in business, finance, quality management and automation. The questions cover definitions and concepts such as GDP, ATMs, online banking, KYC norms, productivity, quality tools, total quality management principles, ISO standards, 5S concepts and causes of quality issues. The questions are designed to test understanding of key terms, relationships between concepts, and applications of quality and process improvement methods.

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Abhi Shek
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0% found this document useful (0 votes)
13 views5 pages

GDP, Automation, and Banking Concepts Quiz

This document contains 50 multiple choice questions related to various topics in business, finance, quality management and automation. The questions cover definitions and concepts such as GDP, ATMs, online banking, KYC norms, productivity, quality tools, total quality management principles, ISO standards, 5S concepts and causes of quality issues. The questions are designed to test understanding of key terms, relationships between concepts, and applications of quality and process improvement methods.

Uploaded by

Abhi Shek
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

CENTRAL INSTITUTE OF TECHNOLOGY

1. Gross domestic product is a measure of the total value of all-


a. Consumer income in an economy over a period of time
b. Capital accumulation in an economy over a period of time
c. Sale in an economy over a period of time
d. Final goods and services produced in an economy over a period of time
2. Which of the following is the replacement of manpower in the process of productivity?
a. Software
b. Automation
c. Standardization
d. None of these
3. ATM Stands for-
a. Automatic Taller Machine
b. Automated Teller Machine
c. Automatic Transfer Machine
d. Automated Transfer Machine
4. A______ is something which is offered to customers to satisfy their needs or wants.
a. Process
b. Price
c. Promotion
d. Product
5. ATM’s are considered as?
a. Plastic money
b. Paper money
c. Metal money
d. Draft money
6. If the GDP of a nation shows an increase it will benefit-
a. Industrialist of that country
b. Workforce of that country
c. Society as a whole
d. All of these
7. Which of the following skills are needed most by machine – hanling workforce/
a. Technical skills
b. Interpersonal skills
c. Communication skills
d. All of the above
8. Which of the following is true?
a. Use of the automation is not desirable
b. Use of the automation reduces human intervention
c. Use of automation does not affect production
d. None of the above
9. Online banking involves the use of
a. ATM
b. Lockers
c. Internwt
d. Telephone
10. In the term ‘KYC’ , C stands for____
a. Credentials
b. Cash
c. Customer
d. Current
11. A_____ is a finalcial intermediary that accept money and performs other financial
transactions.
a. Chartered accountant
b. Bank
c. Loan agency
d. None of the above
12. If a person wants to transfer money from one account to another he can do so by using-
a. KYC
b. ATM
c. Both (a) and (b)
d. None of the above
13. Bank use KYC registration to ___-
a. Verify the identity of their customer
b. Build cash reserves
c. Transfer money
d. None of the above
14. Online banking enables you to access your bank from____
a. Home
b. Office
c. Anywhere
d. None of these
15. KYC policies are used by ___-
a. Banks
b. Retailers
c. Banks, insurance and export credit agencies
d. All of the above
16. What is disadvantage of automation?
a. Increased throughput
b. Increased output constancy
c. Reduced labour cost
d. Security threats
17. Which one of these documents is not acceptable for fulfillment of KYC norms?
a. Voter ID card
b. Ration card
c. Residential certificate
d. Income certificate
18. While using ATM, authentication is provided by customer by entering ____
a. Cash
b. IFSC
c. PIN
d. KYC
19. Low productivity will leads to _____
a. Job security
b. Political stability
c. Decrease in GDP per capita
d. Increase in GDP per capita
20. What is the advantage of Automation/
a. Reduced operation time
b. High initial cost
c. Unpredictable development cost
d. Security threats
21. Full form of PLB is-
a. Productivity linked bonus
b. Production linked bonus
c. Both (a) and (b)
d. None of the above
22. Which of the following is a reason to automate?
a. Low operational variability
b. Presence of hazardous working environment
c. High cost of human labour
d. All of the above
23. Which of the following is a characteristic of developed countries?
a. High level birth rates
b. In the process of industrialization
c. High level of per capita income
d. High level of death rates
24. Using which of the following, can you purchase an item and pay for it sometime later?
a. Credit card
b. ATM card
c. Laser card
d. Debit card
25. In which of the following situation you need KYC registrations?
a. While opening an account in bank
b. While applying for credit card or Loan
c. Opening a locker facility
d. All of the above
26. _____ suits the meaning of quality
a. Defect
b. Free from defect
c. Less defect
d. None of these
27. According to ISO , quality is ___
𝑃
a. Q=𝐸
b. Q= E + P
𝐸
c. Q=𝑃
d. Q= E – P
28. ____ are called quality tools.
a. 7QC
b. 6QC
c. 8QC
d. 5QC
29. Which of the following is called defect concentration diagram?
a. Control chart
b. Check sheet
c. Histogram
d. Stratification
30. ____is one of the types of bar chart
a. Histogram
b. Pareto chart
c. Scatter diagram
d. Control chart
31. What is the function of quality tool “histogram”?
a. Easy data collection
b. Narrow problem area
c. To demonstrate the range of distribution
d. To examine the factors of problem
32. Which of the following is not a characteristic of quality?
a. Ductility
b. Reliability
c. Efficiency
d. Usability
33. ____is also called ISHIKOWA.
a. Fishbone Diagram
b. Scatter diagram
c. Stratification
d. None of these
34. _____is free from defects.
a. Business
b. Management
c. Quality
d. None of these
35. Which of the following is used to analyse the frequency of problems?
a. Scatter diagram
b. Fishbone
c. Pareto chart
d. Control chart
36. Which of the following is not a pillar of TQM?
a. Team work
b. Quality improvement
c. Branding
d. Interpersonal skill
37. 5’s concepts is given by-
a. Japan
b. USA
c. China
d. None of these
38. Quality management system was first given by-
a. ISO
b. ILO
c. WTO
d. US
39. ISO stands for—
a. International Organization for standardization
b. International standard organization
c. Both (a) and (b)
d. None of the above
40. What does the PDCA cycle stand for?
a. Plan, Do, Check, Act
b. Purpose, develop, carry out, Assess
c. Plan, Design, Control, Act
d. Problem, Diagnosis, Conclusion, Action
41. “KAIZEN” means _____
a. Self discipline
b. Preventive maintenance
c. Sorting out
d. Continuous improvement
42. In PDCA cycle “P” stands for ____
a. Process
b. Plan
c. Problem
d. Procedure
43. The expansion of QMS is ____
a. Quality Management Standard
b. Quality Measurement Standard
c. Quality Measurement System
d. Quality Management System
44. Another name of quality circle is ___
a. Large group
b. Standard group
c. Productivity circle
d. Entrepreneur circle
45. Headquarter of ISO is located in ____
a. Sydney (Australia)
b. Geneva (Switzerland)
c. California(USA)
d. London(UK)
46. Fishbone chart is also called as ____
a. Cause and effect diagram
b. Scatter diagram
c. Control chart
d. Histogram
47. What is the name used for word “waste”?
a. MUDA
b. MURA
c. MURI
d. MUSA
48. What does “SEIRI” stands for?
a. Sorting out
b. Self decline
c. Standardization
d. Systematic arrangement
49. Which is 3rd S in 5s concept?
a. Seiri (sort)
b. Seiso (shine)
c. Shitsuke (sustain)
d. Seiketsu (standardize)
50. A tool that is not used for quality is ____
a. Flowchart
b. Histogram
c. Pareto analysis
d. Redesign

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