Sunday, January 27, 2013

BANK EXAM QUESTIONS SET 3


76. Maximum period of a usance bill considered by bank is
(a) 6 months
(b) 9 months
(c) 12 months
(d) 24 months
ANS : A

77. Which of the bills has no grace period?
(a) Demand bill
(b) Clean bill
(c) Sight bill
(d) All the above
ANS : D

78. After acceptance, the primary liability on a Bill of Exchange is that of
(a) Payee
(b) Acceptor
(c) Drawee
(d) Endorsee
ANS : B

79. Which of the following are accommodation bills?
(a) House bills
(b) Bills representing trading transactions
(c) Bills accepted with consideration
(d) None of the above
ANS : A

80. Under the Sale of Goods Act, a warehouse-keeper’s certificate is a
(a) Contract of sale
(b) Contract of pledge
(c) Document of title to goods
(d) Contract of lease
ANS : C

81. The Government derives maximum revenue from
(a) Income tax
(b) Customs
(c) Sales tax
(d) Excise duty
ANS : D

82. Which of the following may be adjudged as insolvent?
(a) Minor
(b) Married woman
(c) Firm
(d) Lunatic
ANS : B

83. X and Y have joint account. A Garnishee order was served on X who does not have an individual account. Bank shall
(a) Attach the joint account
(b) Attach 50% of the joint account like attachment
(c) Not attach the joint account
(d) All the above
ANS : C

84. Non-registered firm cannot
(a) Sue its partners or debtors
(b) Be sued by its creditors
(c) Be sued by its own partners
(d) None of the above
ANS : A

85. Sets of Garnishee Order
(a) 3
(b) 5
(c) 4
(d) 2
ANS : D

86. Appropriation of accounts is provided in
(a) Negotiable Instruments
(b) Banking Regulation Act, 1949
(c) Indian Contract Act, 1872
(d) All the above
ANS : B

87. A cheque becomes stale after
(a) 2 months
(b) 3 months
(c) 6 months
(d) 12 months
ANS : C


88. Bank conducts Government business at its branches as an agent of
(a) RBI
(b) SBI
(c) Government of India
(d) None of the above
ANS : A

89. The validity period of a challan/bill passed by a Treasury Officer is for
(a) 7 days
(b) 10 days
(c) 14 days
(d) 20 days
ANS : B

90. A draft for Rs. 18,000 is issued in which series?
(a) OT
(b) TT
(c) OL
(d) OM
ANS : C

91. Minimum period for which a locker can be hired is
(a) 1 week
(b) 3 months
(c) 6 months
(d) 12 months
ANS : C

92. When a fixed deposit receipt is kept with the bank for its safety, it is known as
(a) Safe custody
(b) Safe deposit
(c) Locker
(d) Valid safe deposit
ANS : A

93. Rupee Traveller Cheques are for a period of
(a) 6 months
(b) 12 months
(c) 24 months
(d) Unlimited
ANS : D

94. India’s 7th Export Processing Zone is being set up at
(a) Mumbai
(b) Visakhapatnam
(c) Cochin
(d) Chennai
ANS : C

95. Gilt-edged securities are
(a) Shares of a private limited company
(b) First-class Government securities
(c) Shares of a company
(d) None of the above
ANS : B

96. Certificate of Deposits can be issued for a minimum period of
(a) 45 days
(b) 3 months
(c) 6 months
(d) 1 year
ANS : B

97. Telegraphic Transfer Receipt is a
(a) Bearer instrument
(b) Order instrument
(c) Non-negotiable
(d) Business letter
ANS : C

98. A gift cheque is
(a) A negotiable instrument
(b) An order instrument
(c) Simple receipt
(d) A quasi-negotiable instrument
ANS : C

99. If a payee of a mail transfer does not maintain account
(a) Banker’s cheque will be issued
(b) M. T. will be credited to Sundry Deposit Account
(c) Draft will be issued
(d) New account will be opened
ANS : A

100. Which of the following can delegate his power to a third person?
(a) Liquidator
(b) Executor
(c) Individual
(d) Partner
ANS : C

101. Overdue interest for all types of deposits can be paid in cash to
(a) Minor
(b) Guardian
(c) Depositor
(d) Legal heirs of a deceased depositor
ANS : D

102. Which of the following has been withdrawn?
(a) Credit Monitoring System
(b) Credit Authorisation Scheme
(c) Credit Monitoring Arrangement
(d) None of the above
ANS : B

103. An executor of deceased account is appointed under
(a) Trust
(b) Court
(c) Will
(d) Family tradition
ANS : C

104. Service area approach has been launched from
(a) January 1, 1990 (b) April 1, 1989
(c) April 1, 1992 (d) July 1, 1992
ANS : B

105. While granting an overdraft against the security of life insurance policy, the
advance value is computed on the basis of
(a) Total amount of the policy
(b) Paid-up value of the policy
(c) Surrender value of the policy
(d) None of the above
ANS : C

106. Book-debits of a company can be charged to the bank by way of
(a) Hypothecation
(b) Pledge
(c) Mortgage
(d) Lien
ANS : A

107. Which of the following has issued Master shares?
(a) RBI
(b) SBI
(c) UTI
(d) LIC
ANS : C

108. Which of the following schedules of Indian constitution deals with banking?
(a) 5th
(b) 6th
(c) 7th
(d) 8th
ANS :

109. Is there any limit for a currency transfer?
(a) 10 lakhs
(b) 25 lakhs
(c) No limit
(d) 1 crore
ANS : C

110. Currency notes deposited in the currency chest are the property of
(a) Respective bank
(b) RBI
(c) SBI
(d) Government of India
ANS : B

111. The minimum amount to effect a currency transfer is
(a) Rs. 500
(b) Rs. 2,000
(c) Rs. 1,000 withdrawal deposit Rs. 500
(d) Rs. 5,000 multiples of Rs. 1,000
ANS : C

112. Relationship between the RBI and the bank maintaining currency chest will be of
(a) Trustee and beneficiary
(b) Principal and agent
(c) Licensor and licensee
(d) Creditor and debitor
ANS : C

113. Indian currency means
(a) One-rupee notes and coins under Indian Coinage Act, 1906
(b) Notes only
(c) Coins only
(d) None of the above
ANS : A

114. Which of the following notes cannot be exchanged?
(a) Solid notes
(b) Mismatched notes
(c) Mutilated notes
(d) All the above
ANS : B

115. Daily operations on the currency chest are advised to
(a) RBI
(b) Concerned bank
(c) Main branch of the district
(d) Through link branch to RBI
ANS : D

116. Suprious coins detected at the counter are sent to
(a) Mint
(b) Government of India
(c) RBI
(d) IBRD
ANS : A

117. Signature on Re. 1 note is made by the Finance Secretary but on the other notes by
(a) Prime Minister
(b) President of India
(c) Governor of Reserve Bank of India
(d) Finance Minister
ANS : C

118. On a cheque instead of two parallel lines only bank’s name is written. It is a
(a) General crossing
(b) No crossing
(c) Payable to bearer
(d) Special crossing
ANS : D

119. A holder in due course of a cheque does not get protection from
(a) Irregularity of endorsement
(b) Without consideration
(c) Default in the title
(d) All the above
ANS : B

120. What is the minimum period of reinvestment deposits?
(a) 1 month
(b) 2 months
(c) 3 months
(d) 6 months
ANS : D

121. Which of the following is a borrowing facility/loan advance?
(a) Term finance
(b) Performance guarantee
(c) Bill received under letter of credit
(d) All the above
ANS : A

122. Fixed assets ratio means
(a) Fixed assets to paid-up capital
(b) Net fixed assets to long-term funds
(c) Net worth
(d) None of the above
ANS : B

123. A decline in the current ratio and liquidity ratio indicates
(a) Sound position
(b) Solvency
(c) Over trading
(d) Off shore
ANS : C

124. Marginal cost means
(a) Raw-material selling expenses and other variable expenses
(b) Prime cost
(c) Margin of sales
(d) None of the above
ANS : A

125. Assignment means transfer of
(a) Ownership only
(b) Possession only
(c) The policy-holder only
(d) A debit/right/property only
ANS : D

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