Computer Terms & Abbreviations

Terms	Full Form	Definition
DNA	Distributed Internet Architecture	DNA is a marketing name for a collection of Microsoft technologies that enable the Windows platform and the Internet to work together.
DVR	Digital Video Recorder	DVR is an electronic device that records video in a digital format to a disk drive, USB flash drive, SD memory card, SSD or other local or networked mass storage device.
E-Commerce	Electronic Commerce	E-Commerce is a transaction of buying or selling online.
EDGE	Enhanced Data Rate for GSM (Global System for Mobile Communication) Evolution	EDGE is a digital mobile phone technology that allows improved data transmission rates as a backward-compatible extension of GSM.
EDI	Electronic Data Interchange	EDI is an electronic communication method that provides standards for exchanging data via any electronic means
EDP	Electronic Data Processing	EDP refer to the use of automated methods to process commercial data. Typically, this uses relatively simple, repetitive activities to process large volumes of similar information.
EDSAC	Electronic Delay Storage Automatic Calculator	EDSAC was an early British computer. Inspired by John von Neumann’s seminal First Draft of a Report on the EDVAC
EDVAC	Electronic Discrete Variable Automatic Compute	EDVAC was one of the earliest electronic computers. Unlike its predecessor the ENIAC, it was binary rather than decimal, and was a stored-program computer
EB	EXA BYTE	Exabyte (1 000 000 000 000 000 000 Bytes) = 109 GB
EiB	EXBI BYTE	1 EiB = 1.15 EXA BYTE
EROM/EPROM	Erasable Read Only Memory/Erasable Programmable Read Only Memory	It is a type of memory chip that retains its data when its power supply is switched off.
EEPROM	Electronically Erasable Programmable Read Only Memory	EEPROM is a type of non-volatile memory used in computers and other electronic devices to store relatively small amounts of data but allowing individual bytes to be erased and reprogrammed
E-Mail	Electronic Mail	E-Mail is a method of exchanging digital messages between people using digital devices such as computers, tablets and mobile phones.
EFS	Encrypted File System	EFS is a feature introduced in version 3.0 of NTFS that provides filesystem-level encryption. The technology enables files to be transparently encrypted to protect confidential data from attackers with physical access to the computer.
EDC	Electronic Digital Computer	EDC is a computer machine which is both an electronic computer and a digital computer.
ENIAC	Electronics Numerical Integrator And Calculator	ENAIC was amongst the earliest electronic general-purpose computers made. It was Turing-complete, digital, and could solve “a large class of numerical problems” through reprogramming.
FDC	Floppy Disk Controller	FDC is a special-purpose chip and associated disk controller circuitry that directs and controls reading from and writing to a computer’s floppy disk drive (FDD).
FDD	Floppy Disk Drive	FDD is a hardware device that reads data storage information. FDDs are used for reading and writing on removable floppy discs.
FORTRAN	Formula Translation	FORTRAN is a general-purpose, imperative programming language that is especially suited to numeric computation and scientific computing.
FTP	File Transfer Protocol	FTP is a standard network protocol used for the transfer of computer files from a server to a client using the Client–server model on a computer network.
FS	File System	FS is the methods and data structures that an operating system uses to keep track of files on a disk or partition; that is, the way the files are organized on the disk.
FAT	File Allocation Table	FAT is a file system developed for hard drives that originally used 12 or 16 bits for each cluster entry into the file allocation table.
FPS	Frames Per Second	FPS is the frequency (rate) at which consecutive images called frames are displayed in an animated display. The term applies equally to film and video cameras, computer graphics, and motion capture systems.
FLOPS	Floating Point Operations Per Second	FLOPS is a measure of computer performance, useful in fields of scientific computations that require floating-point calculations
FM	Frequency Modulation.	FM is the encoding of information in a carrier wave by varying the instantaneous frequency of the wave. This contrasts with amplitude modulation, in which the amplitude of the carrier wave varies, while the frequency remains constant.
GB	Giga Byte	1GB = 109 Bytes
GiB	GIBIBYTE	1 GiB = 1.074 GB
GIF	Graphic Interchangeable Format	GIF is a bitmap image format which supports animations and allows a separate palette of up to 256 colors for each frame.
GDI	Graphical Device Interface	GDI is a Microsoft Windows application programming interface and core operating system component responsible for representing graphical objects and transmitting them to output devices such as monitors and printers.
GPRS	General Packet Radio Service	GPRS is a packet oriented mobile data service on the 2G and 3G cellular communication system’s global system for mobile communications (GSM).

Banking Terms And Abbreviations

Terms	Full Form	Definition
FPI	Foreign Portfolio Investment	In which foreigners purchase or Issue company’s bond and stock by depositing money in the bank.
FSLRC	Financial Sector Legislative Reforms Commission	The government of India established it in 2011. If the financial market is affected by legislative then FSLRC has the rights to rewrite the legislative to maintain the financial market.
GDP	Gross Domestic Product	It is the measure to check the growth of the economy of the country. It is the ultimate value of services & goods produced at a given specified period
GDR	Global Depository Receipt	It is issued in the EURO market. Basically, it is used by an Indian company to raise funds in International or foreign currency.
GFD	Gross Fiscal Deficit	It is used to differentiate the total expense from non-debt capital receipt and revenue receipt.
GIC	General Insurance Corporation	Established in 1972. Its main objective was to manage and control the Indian insurance sector.
GAAR	General Anti-Avoidance Rule	The GAAR was made for anti-tax avoidance in 2012. Our Former Finance Minister “Pranab Mukherjee” formed this rule.
GPD	Gross Primary Deficit or Gross Fiscal Deficit	We can easily calculate the fiscal deficit or primary deficit by using the given formula.
GIRO	Government Internal Revenue Order	This is a panel controlled by Reserve Bank of India (RBI). Umesh Bellur is the Chairman of GIRO. RBI started It to centralize the system of bill payment.
HDFC	Housing Development Finance Corporation	Established in 1977. The motto of HDFC is “With you right through”. HDFC provides housing loans in India.
HFT	Held For Trading	It is defined as an asset purchased with a motive to receive short-term gain from it. That’s why it is also addressed as Short-term marketable security.
IBS	International Banking Statistics	Its purposes are, to provide guidelines to all reporting countries for reporting the data and to provide the complete detail about present country practicing the data reported.
ICAR	Indian Council Agricultural Research	Established in 1929 with a motto is “agri-search with a human touch”. It helps in studying agriculture because ICAR is the head of the department of agriculture in India.
ICICI	Industrial Credit and Investment Corporation of India	Established in 1994. If this bank is observing from assets ‘point of view, it stands as the 2nd largest bank of India and from Market Capitalization point of view, ICICI stands as the 3rd largest in India. ICICI owns a large network all over the world.
ICMR	Indian Council of Medical Research	ICMR has been one among the oldest basis for many medical types of research that took place in India. The government of India established this in India to expand the research center for the welfare of India.
IDBI	Industrial Development Bank of India	A subsidiary of Reserve Bank of India (RBI).hence it is controlled and managed by RBI.
IFC	International Finance Corporation	Established in 1956. The corporation provides help to many developing countries and many other private sectors by lending them money. The number of countries that joined with IFC is 184.
IFCI	Industrial Financial Corporation of India	It is a 1948, the government set up the financial institute. Its original purpose is to provide loans for the long term and medium term to their customers.
IIP	Index of Industrial Production	It is published every month by CSO (Central Statistical Organization). It is basically an index which is used to reflect the economy conditions and also reflects the growth of Industrial unit. CSO is the controlling body of IIP.
IMF	International Monetary Fund	An International Financial Institution established in 1945. The main objective of IMF is to maintain the flow of foreign currency in the Indian market.
IRBI	Industrial Reconstruction Bank of India	Established in 1985. This bank provides small & medium sectors with the credit facilities. IRBI has enough power to work and take enough steps to remove and cure the industrial sickness.
ISDA	International Swaps & Derivatives Association	A trade association established in 1985. The role of ISDA is to observe the derivative transactions. Therefore ISDA makes a master agreement in order to notify the derivative transactions. As ISDA brings the transparency in trade so it also reduces the credit risk.
ISIC	International Standards Industrial Classification	ISIC does classify all economic activities which are productive in nature. So it collects the statistics on all these economic activities and provides it.
ISO	International Standards Organization	It was a non-governmental organization established in 1947 with 162 members. ISO defines and represents the standards to be used by the national organization.
LBS	Locational Banking Statistics	It basically helps in International Banking Business. LBS was formed in the year of 1970. It reflects the growth that EURO currency has attained in the market and also the breakdown it suffers.
LIBOR	London Interbank Offer Rate	The bank accepts these rates, at the time of fund borrowing. LIBOR is actually named as British Banker Association LIBOR or BBA LIBOR.
LERMS	Liberalized Exchange Rate Management System	This system helps to exchange the currency or to control or manage the exchange rate system.
LIC	Life Insurance Company of India	When LIC comes into the existence in 1956, many small companies merged with LIC. It is basically an investment company with its headquarter in Mumbai.
LCR	Liquidity Coverage Ratio.	LCR = HQ LAS / Net cash outflows
LRMT	Liquidity Risk monitoring Tools	It is a tool that helps to keep a check on the liquidity of risk and is considered under BASEL III.

Banking Awareness,

Q1. When a Bank provides a loan for purchase of white goods, it is categorised as-?

(a) Consumption loan

(b) White Goods loan

(c) Consumer Durable Loan

(d) Working Capital

(e) None of the given options is true

S1. Ans.(c)

Sol. Consumer Durable Loan is a finance option for the purchase of (White Goods) household items like Washing Machines, Refrigerators, AC, LED, LCD, Microwaves etc.

Q2. Fixed Deposits and Recurring Deposits are-

(a) repayable after an agreed period

(b) repayable on demand

(c) not repayable

(d) repayable on demand or after an agreed period as per bank’s choice

(e) None of the given options is true

S2. Ans.(d)

Sol. A fixed deposit (FD) is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date.And Recurring Deposit is a special kind of Term Deposit offered by banks in India which help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits.

Q3. What is the full form of ‘FSDC’ which is used in financial sectors?

(a) Financial Security and Development Council

(b) Financial Stability and Development Council

(c) Fiscal Security and Development Council

(d) Fiscal Stability and Development Council

(e) None of the given options is true

S3. Ans.(b)

Sol. Financial Stability and Development Council (FSDC) is an apex-level body constituted by the Government of India. Chairperson: The Union Finance Minister of India.

Q4. FSDC was set up by the Government as the apex level forum in-

(a) September 2002

(b) January 2016

(c) March 2012

(d) July 2005

(e) December 2010

S4. Ans.(e)

Sol. With a view of strengthening and institutionalizing the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development, the Financial Stability and Development Council (FSDC) was set up by the Government as the apex level forum in December 2010. The Chairman of the Council is the Finance Minister and its members include the heads of all Financial Sector Regulators (RBI, SEBI, PFRDA & IRDA) Finance Secretary and/or Secretary, Department of Economic Affairs (DEA), Secretary, Department of Financial Services (DFS), and Chief Economic Adviser. The Council can invite experts to its meeting if required.

Q5. CRAR stands for _________

(a) Capital to Risk-Weighted Assets Ratio

(b) Capital to Risk Assets Ratio

(c) Credit Rating-Weighted Assets Ratio

(d) Credit Rating Assets Ratio

(e) None of the given options is true

S5. Ans.(a)

Sol. The Capital Adequacy Ratio (CAR) or Capital-to-Risk weighted Assets Ratio (CRAR) is a measure of a bank’s capital. It is expressed as a percentage of a bank’s risk weighted credit exposures. It is used to protect depositors and promote the stability and efficiency of financial systems around the world.

Q6. Which among the following are long term corporate bonds that are unsecured in nature?

(a) DCF

(b) Debentures

(c) Covenant

(d) CRAs

(e) Cheque

S6. Ans.(b)

Sol. A long-term security yielding a fixed rate of interest, issued by a company and secured against assets are known as debentures.

Q7. An account for which a bank acts as an uninterested third party is termed as?

(a) Savings Account

(b) Current Account

(c) Reserve Account

(d) Escrow Account

(e) Fixed Account

S7. Ans.(d)

Sol. An escrow account is a temporary pass through the account held by a third party during the process of a transaction between two parties. Definition: An escrow account is a temporary pass through the account held by a third party during the process of a transaction between two parties.

Q8. A signed undertaking from one party containing a promise to pay a stated sum to a specified person or a company is known as ________

(a) Power of Attorney

(b) Promissory Note

(c) Purchasing Power Parity

(d) Plastic Notes

(e) None of the given options is true

Q9. Which of the following is defined as the difference between current assets and current liabilities?

(a) Venture Capital

(b) Working Capital

(c) Equitable Mortgage

(d) Loss Assets

(e) Profit and Loss Account

S9. Ans.(b)

Sol. The capital of a business (working capital) which is used in its day-to-day trading operations, calculated as the current assets minus the current liabilities.

Q10. A debt which is irrecoverable and is therefore written off as loss in the accounts of an institution or bank is known as __________

(a) external debt

(b) good debt

(c) bad debt

(d) internal debt

(e) None of the given options is true

S10. Ans.(c)

Sol. The term bad debts usually refers to accounts receivable (or trade accounts receivable) that will not be collected.

Q11. ______________ is basically charged when a person uses a credit card to obtain cash.

(a) Early Repayment Charge

(b) Redemption Fee

(c) Transaction Fee

(d) Cash Advance Fee

(e) None of the given options is true

S11. Ans.(d)

Sol. A cash advance fee is a charge that a credit card issuer charges a customer for accessing the cash credit line on his or her account, either through an ATM, convenience check or at a bank’s teller window.

Q12. Which is an interest-free period that is to be given by a creditor to the debtor?

(a) Fixed Period

(b) Present Period

(c) Grace Period

(d) All of the Above

(e) None of the given options is true

S12. Ans.(c)

Sol. The grace period is the provision in most loan and insurance contracts which allows payment to be received for a certain period of time after the actual due date. During this period no late fees will be charged, and the late payment will not result in default or cancellation of the loan.

Q13. ________ is a cheque rather an amount of cheque, which is above the balance available in the account of the payer.

(a) Travellers cheque

(b) Multicity Cheque

(c) Mutilated Cheque

(d) Over Draft

(e) Bad Debts

S13. Ans.(d)

Sol. An overdraft is an extension of credit from a lending institution when an account reaches zero. An overdraft allows the individual to continue withdrawing money even if the account has no funds in it.

Q14. A cheque for a fixed amount that may be cashed or used in payment abroad after endorsement by the holder’s signature is known as ___________

(a) Travellers cheque

(b) Multicity Cheque

(c) Mutilated Cheque

(d) Crossed Cheque

(e) None of the given options is true

S14. Ans.(a)

Sol. Traveller’s cheque is a medium of exchange that can be used in place of hard currency. Traveller’s cheques are often used by individuals travelling on vacation to foreign countries.

Q15. Which of the following is not a measure of the Risk Management in Banks?

(a) CRR

(b) RTGS

(c) SLR

(d) Deposit Insurance

(e) None of the given options is true

S15. Ans.(b)

Sol. Cash Reserve Ratio (CRR) is the amount of funds that the banks have to keep with the RBI. Statutory liquidity ratio (SLR) is the Indian government term for reserve requirement that the commercial banks in India require to maintain in the form of gold, the government approved securities before providing credit to the customers. Deposit insurance is mandatory, and pays claims from a pool of funds to which every depository institution regularly contributes.