NRI Banking Quiz
Practice quiz on NRI Banking (General Awareness). 10 exam-style questions with explanations.
About This Quiz
NRI Banking Quiz — Questions with Solutions
All 10 questions from this quiz with the correct answer and explanation. Attempt them yourself first, then open each solution to check your reasoning.
Q1.NRE stands for
- A.New Rupee Exchange
- B.Non-Resident Estate
- C.Non-Resident (External)
- D.National Rupee Equivalent
Show answer
Answer: C. Non-Resident (External)
NRE.
Q2.Funds in an NRE account are
- A.Freely repatriable
- B.Not repatriable
- C.Frozen
- D.Taxed in the USA
Show answer
Answer: A. Freely repatriable
Fully repatriable.
Q3.NRO account is used to
- A.Buy shares abroad
- B.Manage income earned in India
- C.Pay US taxes
- D.Hold foreign currency only
Show answer
Answer: B. Manage income earned in India
Rupee account for Indian income.
Q4.FCNR deposits are held in
- A.Gold
- B.Indian rupees
- C.Land
- D.Foreign currency
Show answer
Answer: D. Foreign currency
Foreign Currency Non-Resident.
Q5.An NRI is a person of Indian origin
- A.Living in Delhi
- B.Residing outside India
- C.Born in India only
- D.Working in a bank
Show answer
Answer: B. Residing outside India
Resident abroad.
Q6.Remittances sent by NRIs are called
- A.Inward remittances
- B.Subsidies
- C.Outward remittances
- D.Exports
Show answer
Answer: A. Inward remittances
Remittances to India.
Q7.India receives the world's highest remittances, mainly from
- A.Africa
- B.Antarctica
- C.Russia only
- D.The Gulf and the USA
Show answer
Answer: D. The Gulf and the USA
Gulf and US.
Q8.PIO stands for
- A.Person in Office
- B.Public Investment Office
- C.Person of Indian Origin
- D.Personal Income Order
Show answer
Answer: C. Person of Indian Origin
PIO.
Q9.OCI stands for
- A.Ordinary Citizen of India
- B.Overseas Citizen of India
- C.Overseas Commerce Index
- D.Office of Central India
Show answer
Answer: B. Overseas Citizen of India
OCI.
Q10.FEMA stands for
- A.Foreign Exchange Management Act
- B.Financial Exchange Market Act
- C.Federal Exchange Management Authority
- D.Foreign Exports Management Act
Show answer
Answer: A. Foreign Exchange Management Act
FEMA 1999.
Frequently Asked Questions
Is NRI Banking Quiz free to attempt on AajExam?
Yes. NRI Banking Quiz is completely free. You only need a free AajExam account to track your score, view detailed solutions and unlock cross-attempt analytics.
How long does it take to complete NRI Banking Quiz?
NRI Banking Quiz runs on a 10-minute timer in real exam-style conditions. The clock starts the moment you click Start, mirroring the time pressure of the actual exam.
Are detailed solutions provided?
Yes. Every question on NRI Banking Quiz ships with a complete step-by-step solution, the underlying concept, and (where applicable) shortcut tricks. You can also discuss any question with the AajExam community.
Can I attempt NRI Banking Quiz multiple times?
Yes. You can attempt this quiz as many times as you like. Each attempt is recorded separately so you can track improvement in score, accuracy and time-management.
Which government exams does this quiz prepare me for?
NRI Banking questions appear regularly in SSC CGL, CHSL, MTS, GD; IBPS PO, Clerk; SBI PO, Clerk; RRB NTPC, Group D; UPSC prelims and most State PSC exams. The specific weightage varies by exam — check the exam pattern on the corresponding AajExam exam page for details.