Finance & Management (FM) Questions For RBI Grade B Phase II 2021 | Set-1

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RBI Grade B Finance & Management Quiz for Phase II 2021

Finance and Management (FM) Questions with the answer. RBI Grade B Finance and Management Notes PDF. RBI Grade B FM Study Material PDF. RBI Finance and Management (FM) Books, PDF, Previous Papers, Question Set, and study material. As we all know that The Reserve Bank of India (RBI) conducted the RBI Grade B Phase I Exam for the post of Grade B (Grade ‘B’ (DR) – (General) & others). It’s the right time when you should start your RBI Grade B 2021 Phase II preparation with full pace.

If you are preparing for RBI Grade B 2021 (Phase II), you will come across a section on “Finance and Management (FM)” wherein 65 questions will be there carrying 50 marks. Here we are providing you with “Finance and Management (FM) Questions for RBI Grade B” with answers based on the latest pattern of your daily practice.

RBI Grade B Finance & Management Questions with Answer| Set-1


1. Which out of the following is not a function of management?

A. Planning

B. Staffing

C. Controlling

D. Co-operating

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Correct Answer B. Staffing

Explanation: There are four functions of management that span across all industries. They include: planning,organizing, leading, and controlling.Staffing forms a part of the human resource planning function.

2. The degree to which jobs are standardized and guided by rules and procedures is called:-

  1. Formalization
  2. Decentralization
  3. Centralization
  4. Work Specialization

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Correct Answer –

Correct Answer – A. Formalization

Explanation: Formalization in organizational structure is a process in which managers specify (in writing), procedures, rules and responsibilities for the individual    employees,organizational units,    groups,    teams    and   the organization as a whole, which leads to the development of processes, relationships, and operating procedures Work specialization, sometimes called a division of labor, refers to the degree to which an organization divides individual tasks into separate jobs. The advantages of work specialization include: Employees can be an expert to some degree in their specific task an higher levels of productivity.

3. The following system is simple, less expensive and less time consuming-

  1. Checklist Method
  2. Ranking
  3. Confidential report system
  4. Paired comparison

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Correct Answer – A. Checklist Method

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4. …………..is the simple act of comparison and learning for organisational improvement?

  1. Job Evaluation
  2. Ranking
  3. Ranking
  4. Benchmarking

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Correct Answer –

Correct Answer – D. Benchmarking

Explanation: Bench marking is a process of measuring the performance of a company’s products, services, or processes against those of another business considered to be the best in the industry.The point of benchmarking is to identify internal opportunities for improvement. By studying companies with superior performance, breaking down what makes such superior performance possible, and then comparing those processes to how your business operates, you can implement changes that will yield significant improvements.

5. What approach towards the followers dominates in the leader member exchange theory?

  1. Solitary
  2. Unitary
  3. Dyadic
  4. Task oriented
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Correct Answer – C. Dyadic

Explanation: The leader–member exchange (LMX) theory is a relationship-based approach to leadership that focuses on the two-way (dyadic) relationship between leaders and followers. It suggests that leaders develop an exchange with each of their subordinates, and that the quality of these leader–member exchange relationships influences subordinates’ responsibility, decisions, and access to resources and performance. Relationships are based on trust and respect and are often emotional relationships that extend beyond the scope of employment. Leader– member exchange may promote positive employment experiences and augment organizational effectiveness. It is widely used by many managers and is replacing many of its predecessors.

6. The following technique is used to evaluate an employee individually.

  1. Paired Comparison
  2. Ranking
  3. Graphic Rating Scale
  4. Forced Distribution
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Correct Answer – C. Graphic Rating Scale

Explanation: Graphic Rating Scale is a type of performance appraisal method  in  which traits or behaviours that are important for effective performance are listed out and each employee is rated against these traits. The rating scale method offers a high degree of structure for appraisals. Each employee trait or characteristic is rated on a bipolar scale that usually has several points ranging from “poor”  to “excellent” (or some similar arrangement).

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7. In this technique, managers prepare lists of statements of very effective and very ineffective behavior of an employee.

  1. Management by Objective
  2. Essay Evaluation
  3. Forced Choice
  4. Critical Incident Technique
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Correct Answer – D. Critical Incident Technique

Explanation: The critical incident method of performance appraisal involved identifying and describing specific events (or incidents) where the employee did something really well or something that needs improvement. It’s a technique based on the description of the event, and does not rely on the assignment of ratings or rankings, although it is occasionally coupled with a ratings type system.

8.Which of the following is not an objective of performance appraisal?

  1. Designing Organizational Goal
  2. Maintaining disciplinary machinery
  3. Measuring the Efficiency
  4. Assessment of Performance

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Correct Answer – B. Maintaining disciplinary machinery

Explanation: The main objective of performance appraisals is to measure and improve the performance of employees and increase their future potential and value to the company. Other objectives include providing feedback, improving communication, understanding training needs, clarifying roles, goals and responsibilities and determining how to allocate rewards.

9. is not a step of performance appraisal?

  1. Adjusting the Standards
  2. Discussing the Results
  3. Comparing Actual with Standards
  4. Communicating Standards
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Correct Answer – A. Adjusting the Standards

Explanation: 6 Steps Involved In The Process Of Performance Appraisal

Necessary Steps in Process Of Performance Appraisal.

Step 1: Establish performance expectations and standards.

Step 2: Providing regular feedback.

Step 3: Measure actual performance.

Step 4: Compare actual performance with standards.

Step 5: Discuss results of appraisal.

Step 6: Come up with corrective measures.

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10. How often should an employee be assessed-

  1. Monthly
  2. Yearly
  3. Quarterly
  4. Any of them

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Correct Answer – D. Any of them

RBI Grade B Finance & Management (FM) 2021 EBook – 1350+ Questions with Detailed Answers

Finance & Management (FM) Book PDF for RBI Grade B Phase II 2021

RBI Grade B 2021 – Important Links

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RBI Grade B Cracker Book for Phase-I 2021: 5500+ MCQ with Detailed Answers – Click Here
RBI Grade B Finance & Management (FM) 2021 EBook – 1350+ Questions with Detailed Answers – Click Here
A Complete Book for RBI Grade B Economic & Social Issues (ESI) 2021 – (Theory + MCQ)- Click Here
Descriptive Book for RBI Grade B Phase II 2021 – (Essay & Letter Writing E-Book PDF)- Click Here
General Awareness (GA-GK) Questions Asked in RBI Grade B Prelims Exam 2019- Click Here
Economics & Social Issues (ESI) Questions Asked in RBI Grade B Phase 2 Exam 2019- Click Here
Financial Management (FM) Questions Asked in RBI Grade B Phase 2 Exam 2019- Click Here
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