1. A cheque payable to bearer can be negotiated by—
(a) Delivery only
(b) Endorsement only
(c) Endorsement and delivery
(d) None of the above
Ans : (a)
2. Which of the following is necessary to transfer funds through the RTGS facility?
(a) Beneficiary’s bank account number
(b) The IFSC number of the beneficiary’s bank branch
(c) There is a minimum amount specified for transfer
(d) All of the above
Ans : (d)
3.Which of the following is not a document of title to goods as per law and practice?
(a) Bill of lading
(b) Airway bill
(c) Warehouse receipt
(d) Letter of credit
Ans : (d)
4. A bank assumes different roles of creditor, debtor, agent while dealing with customers. When does the bank perform the role of lessor?
(a) In cash dealings
(b) When accepting articles for safe custody
(c) When renting out locker
(d) When executing a mortgage deed
Ans : (c)
5. Which of the following cannot open a bank account?
(a) Person of unsound mind
(b) A minor
(c) An illiterate person
(d) A blind individual
Ans : (a
6. Which of the following cards require the monthly outstandings in the card account to be paid in full within the due date of payment every month?
(a) Add on card
(b) Co branded card
(c) Debit card
(c) Debit card
(d) Charge card
Ans : (d
(a) The payee’s bank
(b) The bank which collects the cheque
(c) The bank on which the cheque is drawn
(d) The endorsee’s bank
Ans : (c)
(a) Electronic fund transfer
(b) Speed clearing
(c) High value clearing
(d) Electronic clearing service
Ans : (b
(a) Government departments
(b) Firms and companies
(c) HUFs
(d) All non resident Indians
Ans : (d)
(a) PAN card
Ans : (a)
Ans : (c)
(a) Savings account rates
(b) Term deposit rates
(c) Bank rate
(d) None of the above
Ans : (b)
Ans : (c)
(a) Commercial banks
(b) Cooperative banks
(c) Scheduled banks
(d) NABARD
Ans : (d)
(a) 10 years
Ans : (d
7. Which of the following may be identified as the drawee bank in respect of a cheque?
(a) The payee’s bank
(b) The bank which collects the cheque
(c) The bank on which the cheque is drawn
(d) The endorsee’s bank
Ans : (c)
8. Banks are providing the facility of clearing outstation cheques within the same time period as for local cheques. What is this facility known as?
(a) Electronic fund transfer
(b) Speed clearing
(c) High value clearing
(d) Electronic clearing service
Ans : (b
9. Current accounts cannot be freely opened by?
(a) Government departments
(b) Firms and companies
(c) HUFs
(d) All non resident Indians
Ans : (d)
10. Which is the accepted document for establishing proof of identity of an individual for opening of bank accounts?
(a) PAN card
(b) Electricity bill
(c) Telephone bill
(c) Telephone bill
(d) LIC policy
Ans : (a)
11. Interest payable in savings account is—
(a) regulated by central government
(b) regulated by RBI
(c) not regulated by RBI
(d) regulated by state governments
(b) regulated by RBI
(c) not regulated by RBI
(d) regulated by state governments
Ans : (c)
12. The interest rate payable on bank recurring deposit schemes is linked to which of the following?
(a) Savings account rates
(b) Term deposit rates
(c) Bank rate
(d) None of the above
Ans : (b)
13. A bank assumes different roles of creditor, debtor, agent while dealing with customers. When does the bank perform the role of lessor?
(a) In cash dealings
(b) When accepting articles for safe custody
(c) When renting out locker
(d) When executing a mortgage deed
(b) When accepting articles for safe custody
(c) When renting out locker
(d) When executing a mortgage deed
Ans : (c)
14. Which of the following banks does not provide for opening of a bank account in an individual’s
name?
name?
(a) Commercial banks
(b) Cooperative banks
(c) Scheduled banks
(d) NABARD
Ans : (d)
15. What is the maximum period for which a fixed deposit can be accepted by a commercial bank?
(a) 10 years
(b) 15 years
(c) No limit
(c) No limit
(d) 8 years
Ans : (a)
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