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Saturday, July 14, 2018

IIBF JAIIB Sample Question


 IIBF Sample Question


1. A public sector bank of is a body corporate created under special statute      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
2. A banking company is registered under the Banking Regulation Act      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    Module : Module A
Chapter : Chapter1

3. Cooperative banks are registered under the Cooperative Societies Act      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
2This is due to the impact of certain tings and .......
hope this will work well
Example Explanation
Module : Module A
Chapter : Chapter1
4. Subsidiaries banks are companies registered under the Companies Act      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
3This is due to the impact of certain tings and .......
hope this will work well
Example Explanation
Module : Module A
Chapter : Chapter1
5. Accepting deposits for safe custody would fall within the definition of ‘banking’      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    Your Answer is Incorrect
    You Answered True
Explanation :
4This is due to the impact of certain tings and .......
hope this will work well
Example Explanation
Module : Module A
Chapter : Chapter1
6. Reserve Bank was constituted under _______      Marks:   2+ 1-

    A. BR Act
    B. RBI Act
    C. Companies Act
The Correct Answer is :     B. RBI Act
    
    You Answered B. RBI Act
Explanation :
5This is due to the impact of certain tings and .......
hope this will work well
Example Explanation
Module : Module A
Chapter : Chapter1
7. A Regional Rural Bank is ________________.      Marks:   2+ 1-

    A. A body corporate created under a special statute
    B. A cooperative society
The Correct Answer is :     A. A body corporate created under a special statute
    You did not answer the question.
Explanation :
6This is due to the impact of certain tings and .......
hope this will work well
Example Explanation
Module : Module A
Chapter : Chapter1
8. Banking companies are licensed by _______ .      Marks:   2+ 1-

    A. Reserve Bank
    B. Registrar of companies
    C. Company Law Board).
The Correct Answer is :     B. Registrar of companies
    You did not answer the question.
Explanation :
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Module : Module A
Chapter : Chapter1
9. Business which a banking company may undertake other than banking is as stipulated by ______________      Marks:   2+ 1-

    A. Reserve Bank
    B. BR Act
    C. RBI Act).
The Correct Answer is :     B. BR Act
    You did not answer the question.
Explanation :
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Module : Module A
Chapter : Chapter1
10. BR Act was enacted for _________ regulating acceptance of deposits from public).      Marks:   2+ 1-

    A. Regulating banking companies
    B. Creating Reserve Bank
The Correct Answer is :     A. Regulating banking companies
    You did not answer the question.
Explanation :
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Module : Module A
Chapter : Chapter1
11. Central Government can give direction to the Reserve Bank.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    You did not answer the question.
Explanation :
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Module : Module A
Chapter : Chapter1
12. All business of banks are regulated only by the Reserve Bank.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    You did not answer the question.
Explanation :
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Module : Module A
Chapter : Chapter1
13. Central Government is the primary regulator of banks.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter1
14. The State Government has no control over cooperative banks.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter1
15. On cancellation of licence of any bank, an appeal lies to Central Government.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter1
16. Cooperative bank operating in different states are regulated by _______      Marks:   2+ 1-

    A.State Cooperative Societies Act
    B.Multi-Unit Cooperative Societies Act
    C.Banking Laws (application to Cooperative Societies Act)
The Correct Answer is :     B.Multi-Unit Cooperative Societies Act
    
    You Answered B.Multi-Unit Cooperative Societies Act
Explanation :
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Module : Module A
Chapter : Chapter1
17. Government can exempt a bank from provision of BR Act ______      Marks:   2+ 1-

    A.On the recommendation of RBI
    B.Whenever the government is satisfied
    C.If requested by a bank
The Correct Answer is :     A.On the recommendation of RBI
    
    You Answered A.On the recommendation of RBI
Explanation :
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Module : Module A
Chapter : Chapter1
18. ________ exercises the central banking function in India,      Marks:   2+ 1-

    A.State Bank, Central Bank of India
    B.Reserve Bank of India
The Correct Answer is :     B.Reserve Bank of India
    
    You Answered B.Reserve Bank of India
Explanation :
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Module : Module A
Chapter : Chapter1
19. Company matters of a banking company are regulated by ______      Marks:   2+ 1-

    A.Reserve Bank
    B.Authorities under Companies Act
    C.SEBI
The Correct Answer is :     B.Authorities under Companies Act
    
    You Answered B.Authorities under Companies Act
Explanation :
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Module : Module A
Chapter : Chapter1
20. Trading in shares and securities by banks is subject to control by ______      Marks:   2+ 1-

    A.Controller of Capital Issues
    B.SEBI
    C.Company Law Board
The Correct Answer is :     B.SEBI
    
    You Answered B.SEBI
Explanation :
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Module : Module A
Chapter : Chapter1
21. Section 5(b) of ______ Act gives the definition of the term ‘Banking’      Marks:   2+ 1-

    A.Contract Act,
    B.Negotiable Instruments Act,
    C.Banking Regulation Act,
    D.Transfer of Property Act.
The Correct Answer is :     C.Banking Regulation Act,
    
    You Answered C.Banking Regulation Act,
Explanation :
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Module : Module A
Chapter : Chapter3
22. Principle functions of the Bank are:      Marks:   2+ 1-

    A.Dispatch of statements,
    B.Adjustment of Interoffice Transactions,
    C.Clearing
    D.Acceptance of deposits for Lending and investment.
The Correct Answer is :     D.Acceptance of deposits for Lending and investment.
    
    You Answered D.Acceptance of deposits for Lending and investment.
Explanation :
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Module : Module A
Chapter : Chapter3
23. In a deposit account the principal relation between Bank and Customer is bank ___________ and the Customer ________.      Marks:   2+ 1-

    A.Agent, Principal
    B.Lessor, Lessee
    C.Creditor-Debtor
    D.Debtor-Creditor
    E.Bailor-Bailee
The Correct Answer is :     D.Debtor-Creditor
    
    You Answered D.Debtor-Creditor
Explanation :
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Module : Module A
Chapter : Chapter3
24. When a Bank lends money the relation between Bank and Customer is Bank _____________ and Customer ________.      Marks:   2+ 1-

    A.Agent, Principal
    B.Lessor, Lessee
    C.Creditor-Debtor
    D.Debtor-Creditor
    E.Bailor-Bailee
The Correct Answer is :     C.Creditor-Debtor
    
    You Answered C.Creditor-Debtor
Explanation :
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Module : Module A
Chapter : Chapter3
25. In case of safe custody of articles relation between Bank and Customer is Bank ___________ and Customer _________.      Marks:   2+ 1-

    A.Agent, Principal
    B.Lessor, Lessee
    C.Creditor-Debtor
    D.Debtor-Creditor
    E.Bailor-Bailee
The Correct Answer is :     E.Bailor-Bailee
    
    You Answered E.Bailor-Bailee
Explanation :
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Module : Module A
Chapter : Chapter3
26. In case of safe deposit licker the relation between Bank and Customer is Bank _______________ and Customer _________.      Marks:   2+ 1-

    A.Agent, Principal
    B.Lessor, Lessee
    C.Creditor-Debtor
    D.Debtor-Creditor
    E.Bailor-Bailee
The Correct Answer is :     B.Lessor, Lessee
    Your Answer is Incorrect
    You Answered A.Agent, Principal
Explanation :
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Module : Module A
Chapter : Chapter3
27. An individual can start a bank.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
28. A banking company should have the word ‘Banking’ in its name      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
29. A company engaged in manufacture of furniture can use the word ‘Bank’ in its name.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
30. Ledger keeper is authorised to disclose the balance of the account of the customer to a stranger.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
31. Line is a/an ________ of the creditor to retain possession.      Marks:   2+ 1-

    A.Obligation
    B.Right
    C.Interest
    D.Protection
The Correct Answer is :     B.Right
    
    You Answered B.Right
Explanation :
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Module : Module A
Chapter : Chapter3
32. Where as general lien gives right to retain goods, Banker’s lien has _________ in case of default.      Marks:   2+ 1-

    A.right to create charge
    B.right to create mortgage
    C.right to sell.
The Correct Answer is :     C.right to sell.
    
    You Answered C.right to sell.
Explanation :
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Module : Module A
Chapter : Chapter3
33. General lien gives the creditor right to retain ________ which have come in his possession.      Marks:   2+ 1-

    A.all goods
    B.some goods
    C.specific goods
The Correct Answer is :     A.all goods
    
    You Answered A.all goods
Explanation :
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Module : Module A
Chapter : Chapter3
34. Particular lien gives the creditor right to retain ________ in case the expenses incurred are not paid.      Marks:   2+ 1-

    A.all goods
    B.some goods
    C.specific goods
The Correct Answer is :     C.specific goods
    
    You Answered C.specific goods
Explanation :
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Module : Module A
Chapter : Chapter3
35. Banker’s lien is a/an _________.      Marks:   2+ 1-

    A.hypothecation
    B.mortgage
    C.implied pledge
    D.pledge
The Correct Answer is :     C.implied pledge
    
    You Answered C.implied pledge
Explanation :
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Module : Module A
Chapter : Chapter3
36. In case of __________ goods, Banker’s lien is not applicable.      Marks:   2+ 1-

    A.owner’s goods
    B.stolen goods
    C.finished goods
The Correct Answer is :     B.stolen goods
    
    You Answered B.stolen goods
Explanation :
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Module : Module A
Chapter : Chapter3
37. The right to _______ two accounts is known as set-off.      Marks:   2+ 1-

    A.Open
    B.Banker’s right
    C.Combine
The Correct Answer is :     C.Combine
    Your Answer is Incorrect
    You Answered B.Banker’s right
Explanation :
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Module : Module A
Chapter : Chapter3
38. Right of set-off is not discretionary right with the bank. .      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
39. With the death of a partner of a partner of a firm having a cash credit account the account of the firm can continued as thitherto.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    Your Answer is Incorrect
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
40. Transfer of funds from the partnership account to the credit of the account of a partner to set-off a debit balance, is in order.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
41. The right of set-off is __________.      Marks:   2+ 1-

    A.Customer’s right
    B.Banker’s right
    C.Banker’s obligation
    D.Bank’s descrition.
The Correct Answer is :     D.Bank’s descrition.
    
    You Answered D.Bank’s descrition.
Explanation :
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Module : Module A
Chapter : Chapter3
42. Garnishee order is issued by _______.      Marks:   2+ 1-

    A.Police officer
    B.Revenue authority
    C.Inforcement authority
    D.Court of Law
The Correct Answer is :     D.Court of Law
    
    You Answered D.Court of Law
Explanation :
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Module : Module A
Chapter : Chapter3
43. Attachment order is issued by __________.      Marks:   2+ 1-

    A.Drawer of a cheque
    B.Revenue authority
    C.Manager of bank
The Correct Answer is :     B.Revenue authority
    
    You Answered B.Revenue authority
Explanation :
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Module : Module A
Chapter : Chapter3
44. Mandate is _________ .      Marks:   2+ 1-

    A.Signed letter to the Bank
    B.Order of the court of law
    C.Memorandum of understanding
    D.Unstamped letter to the Bank
The Correct Answer is :     D.Unstamped letter to the Bank
    
    You Answered D.Unstamped letter to the Bank
Explanation :
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Module : Module A
Chapter : Chapter3
45. Power of attorney is _________.      Marks:   2+ 1-

    A.Signed letter to the Bank
    B.A promissory note
    C.Garnishee order
    D.Stamped documents.
The Correct Answer is :     D.Stamped documents.
    
    You Answered D.Stamped documents.
Explanation :
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Module : Module A
Chapter : Chapter3
46. Person to whom a power of attorney is given is called _________ and the person who gives the Power of attorney is called _________.      Marks:   2+ 1-

    A.Debtor-Creditor
    B.Bailor-Bailee
    C.Agent, Principal (donor, donee)
The Correct Answer is :     C.Agent, Principal (donor, donee)
    
    You Answered C.Agent, Principal (donor, donee)
Explanation :
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Module : Module A
Chapter : Chapter3
47. A letter of mandate is generally issued for a short or temporary period.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
48. Mandates are accepted from limited companies and cooperative societies.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
49. Special power of attorney gives extensive powers to the agent to perform many acts. .      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
50. Garnieshee order is issued by the revenue authorities. .      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
51. Attachment order is issued by the Court of Law.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
52. Promissory Notes, Bills of Exchange and cheque are together defined as____________      Marks:   2+ 1-

    A.Negotiable instruments
    B.Transferred instruments
    C.Trust Receipts
    D.Documents of Title to goods.
The Correct Answer is :     A.Negotiable instruments
    
    You Answered A.Negotiable instruments
Explanation :
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Module : Module A
Chapter : Chapter3
53. N.I.are easily ________      Marks:   2+ 1-

    A.transferable
    B.gifted
    C.sold
The Correct Answer is :     A.transferable
    
    You Answered A.transferable
Explanation :
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Module : Module A
Chapter : Chapter3
54. a cheque is drawn on a __________      Marks:   2+ 1-

    A.owner of ship
    B.an agent of a principal
    C.bank
The Correct Answer is :     C.bank
    
    You Answered C.bank
Explanation :
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Module : Module A
Chapter : Chapter3
55. a cheque is payable on a _________      Marks:   2+ 1-

    A.demand
    B.after certain days
    C.on a fixed future date.
The Correct Answer is :     A.demand
    
    You Answered A.demand
Explanation :
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Module : Module A
Chapter : Chapter3
56. Two parallel transverse lines across the cheque is called _________      Marks:   2+ 1-

    A.endorsement
    B.transfer
    C.assignment
    D.crossing
The Correct Answer is :     D.crossing
    
    You Answered D.crossing
Explanation :
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Module : Module A
Chapter : Chapter3
57. Crossing is a direction to the ________ bank to pay the cheque to the payee through a bank.      Marks:   2+ 1-

    A.drawer
    B.payee
    C.paying
    D.collecting
The Correct Answer is :     C.paying
    Your Answer is Incorrect
    You Answered D.collecting
Explanation :
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Module : Module A
Chapter : Chapter3
58. When a cheque is drawn on a bank is called the __________.      Marks:   2+ 1-

    A.drawer
    B.endorser
    C.acceptor
    D.drawee
The Correct Answer is :     D.drawee
    
    You Answered D.drawee
Explanation :
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Module : Module A
Chapter : Chapter3
59. The crossing in a crossed cheque can be cancelled by ________.      Marks:   2+ 1-

    A.drawer
    B.endorser
    C.acceptor
    D.drawee
The Correct Answer is :     A.drawer
    
    You Answered A.drawer
Explanation :
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Module : Module A
Chapter : Chapter3
60. Acts done honestly is called acts done.      Marks:   2+ 1-

    A.without negligence
    B.rashly
    C.mollified
    D.in good faith
The Correct Answer is :     D.in good faith
    Your Answer is Incorrect
    You Answered A.without negligence
Explanation :
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Module : Module A
Chapter : Chapter3
61. Mere signature of the payee on the reverse of the instrument is called ________ endorsement      Marks:   2+ 1-

    A.full
    B.blank
    C.conditional
    D.restrictive
The Correct Answer is :     B.blank
    
    You Answered B.blank
Explanation :
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Module : Module A
Chapter : Chapter3
62. ‘Sans recourse’ means _______.      Marks:   2+ 1-

    A.I am not afraid
    B.Do not touch me
    C.ask the drawer
    D.without liability to me
The Correct Answer is :     D.without liability to me
    
    You Answered D.without liability to me
Explanation :
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Module : Module A
Chapter : Chapter3
63. A cheque is a Bill of Exchange.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
64. Drawee of a cheque is not a banker. .      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    Your Answer is Incorrect
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
65. A promissory note can be crossed.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    Your Answer is Incorrect
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
66. A cheque needs acceptance.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
67. A holder-in-due accepts N.I. for consideration.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
68. Crossing of a cheque can be done by the drawer only.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
69. Transferee of a negotiable instrument will not get a better title transferor.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
70. A cheque can be issued payable after 3 month from the date of its issuance.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    Your Answer is Incorrect
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
71. A banker on whom a cheque is drawn by customer is ___________.      Marks:   2+ 1-

    A.Collecting banker
    B.Paying banker
    C.Advising banker
    D.Confirming banking.
The Correct Answer is :     B.Paying banker
    
    You Answered B.Paying banker
Explanation :
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Module : Module A
Chapter : Chapter3
72. A banker who collects a cheque for and on behalf of his customer is __________.      Marks:   2+ 1-

    A.Collecting banker
    B.Paying banker
    C.Advising banker
    D.Confirming banking.
The Correct Answer is :     A.Collecting banker
    
    You Answered A.Collecting banker
Explanation :
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Module : Module A
Chapter : Chapter3
73. Section 131 of N.I. Acts extends protection to the __________.      Marks:   2+ 1-

    A.Collecting banker
    B.Paying banker
    C.Advising banker
    D.Confirming banking.
The Correct Answer is :     A.Collecting banker
    
    You Answered A.Collecting banker
Explanation :
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Module : Module A
Chapter : Chapter3
74. Section 85 of N.I. Acts extends protection to the __________.      Marks:   2+ 1-

    A.Collecting banker
    B.Paying banker
    C.Advising banker
    D.Confirming banking.
The Correct Answer is :     B.Paying banker
    
    You Answered B.Paying banker
Explanation :
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Module : Module A
Chapter : Chapter3
75. When a banker makes payment of a cheque after banking hour he will be held __________.      Marks:   2+ 1-

    A.liable
    B.reasonable
    C.acceptable
The Correct Answer is :     A.liable
    
    You Answered A.liable
Explanation :
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Module : Module A
Chapter : Chapter3
76. One of the condition to honour the cheque by the paying banker is that amount in words and figures should ____________.      Marks:   2+ 1-

    A.differ
    B.tally
    C.be clear
The Correct Answer is :     B.tally
    
    You Answered B.tally
Explanation :
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Module : Module A
Chapter : Chapter3
77. Where a customer by a letter has advised the bank directing the banker not to honour / pay a particular cheque such a letter is called _________.      Marks:   2+ 1-

    A.letter of authority
    B.letter of credit
    C.stop payment letter
    D.letter of continuity.
The Correct Answer is :     C.stop payment letter
    
    You Answered C.stop payment letter
Explanation :
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Module : Module A
Chapter : Chapter3
78. Where a customer has issued a cheque date of which is yet to come, such a cheque is called ____.      Marks:   2+ 1-

    A.stale cheque
    B.post-dated cheque
    C.crossed cheque
    D.stolen cheque
The Correct Answer is :     B.post-dated cheque
    
    You Answered B.post-dated cheque
Explanation :
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Module : Module A
Chapter : Chapter3
79. When a bank pays a cheque according to the apparent tenor, in good faith and without having reason to doubt the bonafide of the presendor, such payment is ___________.      Marks:   2+ 1-

    A.wrong payment
    B.late payment
    C.future payment
    D.payment in due course
The Correct Answer is :     D.payment in due course
    
    You Answered D.payment in due course
Explanation :
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Module : Module A
Chapter : Chapter3
80. To get the protection under S / 131, a collecting bank has to collect a ______for credit of is customer      Marks:   2+ 1-

    A.stolen cheque
    B.stale cheque
    C.postdated cheque
    D.crossed cheque
The Correct Answer is :     D.crossed cheque
    
    You Answered D.crossed cheque
Explanation :
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Module : Module A
Chapter : Chapter3
81. Payment of cheque must be made by the banker within banking hours.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
82. Payment of a postdated cheque by a banker is in order.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
83. A bearer cheque is always payable to bearer.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
84. Payment of a cheque at a branch other than the branch where it is payable, is in order.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
85. Stopped payment cheques should be paid by the banker.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
86. If a cheque is stolen in transit and presented at the drawee bank by a holder in due course case and if the cheques is paid by the bank in due course in a case the drawee bank would be _______.      Marks:   2+ 1-

    A.be held liable
    B.would not be held liable
    C.would be found guilty
The Correct Answer is :     B.would not be held liable
    
    You Answered B.would not be held liable
Explanation :
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Module : Module A
Chapter : Chapter3
87. where the signature of the drawer of a cheque is not genuine, such a cheque is called _________.      Marks:   2+ 1-

    A.post-dated cheque
    B.forged cheque
    C.clearing cheque
    D.stale cheque
The Correct Answer is :     B.forged cheque
    
    You Answered B.forged cheque
Explanation :
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Module : Module A
Chapter : Chapter3
88. a forged cheque is a valid cheque.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
89. true owner of a cheque will be entitled for payment even when the cheque has been lost and it has reached the hands of holder in due course.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
90. where a person has lost an article and if the article comes in procession of a bonafide purchaser, the bonafide purchaser will not be entitled to the article.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    Your Answer is Incorrect
    
Explanation :
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Module : Module A
Chapter : Chapter3
91. Section 138 states that drawer of a cheque is liable to be punished if the cheque is bounced for ___________.      Marks:   2+ 1-

    A.not crossing
    B.alteration in figures
    C.being postdated
    D.insufficient fund
The Correct Answer is :     D.insufficient fund
    
    You Answered D.insufficient fund
Explanation :
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Module : Module A
Chapter : Chapter3
92. when a drawer draws a cheque without keeping sufficient balance and if the cheque is dishonoured for insufficient funds, the drawer is punishable with and imprisonment which may extend to ________ and or a fine.      Marks:   2+ 1-

    A.two months
    B.four month
    C.one year
The Correct Answer is :     C.one year
    
    You Answered C.one year
Explanation :
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Module : Module A
Chapter : Chapter3
93. Demand deposits are those which can be withdrawn __________.      Marks:   2+ 1-

    A.on demand
    B.at any future date
    C.after one year
    D.after 5 years
The Correct Answer is :     A.on demand
    
    You Answered A.on demand
Explanation :
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Module : Module A
Chapter : Chapter3
94. Current deposits are not entitled to ________.      Marks:   2+ 1-

    A.Cheque book
    B.Statements
    C.Customer service
    D.interest.
The Correct Answer is :     D.interest.
    
    You Answered D.interest.
Explanation :
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Module : Module A
Chapter : Chapter3
95. In savings deposits interest is paid on _______ balance in the a/c between 10th to last working day of the month      Marks:   2+ 1-

    A.maximum
    B.average
    C.minimum
    D.last balance
The Correct Answer is :     C.minimum
    
    You Answered C.minimum
Explanation :
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Module : Module A
Chapter : Chapter3
96. Introduction in all deposits accounts is _________      Marks:   2+ 1-

    A.optional
    B.compulsory
    C.discretion of the bank
The Correct Answer is :     B.compulsory
    
    You Answered B.compulsory
Explanation :
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Module : Module A
Chapter : Chapter3
97. A minor below age of 7 can open an account independently.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
98. When a customer dies contractual relationship between the bank and the customer is terminated.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
99. A Will need not be probated by a court.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
100. If a customer tenders a cheque for payment when he is drunk bank should not have witness at the time of signing and the payment.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
101. A partner has no implied authority to admit the liability in any suit client filed against the firm.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    Your Answer is Incorrect
    
Explanation :
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Module : Module A
Chapter : Chapter3
102. Public limited company should have a minimum of at least ________ members.      Marks:   2+ 1-

    A.50
    B.15
    C.7
    D.without limit.
The Correct Answer is :     C.7
    
    You Answered C.7
Explanation :
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Module : Module A
Chapter : Chapter3
103. Government companies are companies where the government holds at least ________ % share of the company.      Marks:   2+ 1-

    A.80
    B.50
    C.75
    D.51
The Correct Answer is :     D.51
    
    You Answered D.51
Explanation :
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Module : Module A
Chapter : Chapter3
104. Section ______ of the company Act details the borrowing limits of the company.      Marks:   2+ 1-

    A.85(A)
    B.31
    C.293(1)
    D.5(b)
The Correct Answer is :     C.293(1)
    
    You Answered C.293(1)
Explanation :
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Module : Module A
Chapter : Chapter3
105. The Trustees _________ delegate their powers.      Marks:   2+ 1-

    A.can
    B.can not
The Correct Answer is :     B.can not
    
    You Answered B.can not
Explanation :
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Module : Module A
Chapter : Chapter3
106. Execution of a will is entrusted to __________      Marks:   2+ 1-

    A.Administrator
    B.holding of power of attorney
    C.Executor
    D.holder in due close.
The Correct Answer is :     C.Executor
    
    You Answered C.Executor
Explanation :
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Module : Module A
Chapter : Chapter3
107. Administrator is a person appointed by __________ to look after the property under letter of Administrator.      Marks:   2+ 1-

    A.the government
    B.the Court
    C.the bank
    D.RBI
The Correct Answer is :     B.the Court
    
    You Answered B.the Court
Explanation :
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Module : Module A
Chapter : Chapter3
108. __________ is a person appointed by the Court to wind up the company.      Marks:   2+ 1-

    A.Administrator
    B.Executor
    C.Registrar
    D.liqudator
The Correct Answer is :     D.liqudator
    
    You Answered D.liqudator
Explanation :
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Module : Module A
Chapter : Chapter3
109. the person appointed by the court to look after the property under letter of administrator is executor      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
110. the person who is entrusted with the work of execution of the will is called executor.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
111. Trustees cannot delegate their powers.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
undefined
Module : Module A
Chapter : Chapter3
112. No loans should be granted to clubs and associations      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
undefined
Module : Module A
Chapter : Chapter3
113. 293 (i)(d) of company Act stipulates the borrowing limit of a limited company.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
undefined
Module : Module A
Chapter : Chapter3
114. Memorandum of Association stipulates internal rules of a company      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
undefined
Module : Module A
Chapter : Chapter3
115. Article of Association lays down objects of the company.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    Your Answer is Incorrect
    
Explanation :
undefined
Module : Module A
Chapter : Chapter3
116. NRNR & FCNR (B) accounts can be kept in the from of _________ deposits      Marks:   2+ 1-

    A.Term Deposits
    B.Current Deposits
    C.Saving Deposits
    D.Recurring Deposits
The Correct Answer is :     A.Term Deposits
    
    You Answered A.Term Deposits
Explanation :
undefined
Module : Module A
Chapter : Chapter3
117. Accounts jointly with residents can be opened in the case of __________ accounts.      Marks:   2+ 1-

    A.FCNR (B) and NRE
    B.NRO and NRNR
The Correct Answer is :     B.NRO and NRNR
    You did not answer the question.
Explanation :
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Module : Module A
Chapter : Chapter3
118. Accounts jointly with residents cannot be opened in the case of __________ accounts.      Marks:   2+ 1-

    A.FCNR (B) and NRE
    B.NRO and NRNR
The Correct Answer is :     A.FCNR (B) and NRE
    Your Answer is Incorrect
    You Answered B.NRO and NRNR
Explanation :
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Module : Module A
Chapter : Chapter3
119. The term Non-resident Indian means an individual being a citizen of India or a person of Indian origin outside India.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
120. FCNR (B) account can be kept in the Current, Saving and Recurring Deposits.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
121. Rate of interest payable on NRO, NRE and FCNR Deposits are left to the discretion of Banks.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
122. The banker should not ________ the account of his customer unless there is justifiable reason for the closure.      Marks:   2+ 1-

    A.close
    B.open
    C.transfer
The Correct Answer is :     A.close
    
    You Answered A.close
Explanation :
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Module : Module A
Chapter : Chapter3
123. Passbook is a _______ of transactions between the customer and the bank.      Marks:   2+ 1-

    A.basis
    B.source
    C.record
    D.root
The Correct Answer is :     C.record
    
    You Answered C.record
Explanation :
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Module : Module A
Chapter : Chapter3
124. When account is following is closed by the bank, proper________ should be given to the customer      Marks:   2+ 1-

    A.thanks letter
    B.guarantee
    C.notice
    D.demand
The Correct Answer is :     C.notice
    
    You Answered C.notice
Explanation :
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Module : Module A
Chapter : Chapter3
125. Passbook is a copy of the customer’s account.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    
    You Answered True
Explanation :
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Module : Module A
Chapter : Chapter3
126. When a banker closes the account of the customer he is not required to send any notice.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
127. When a banker of a partnership account who has got an account with the bank, dies the bank should close the account.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     True
    Your Answer is Incorrect
    
Explanation :
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Module : Module A
Chapter : Chapter3
128. When banker receives intimation of death of the customer, account is allowed to continue.      Marks:   2+ 1-

    True
    False
The Correct Answer is :     False
    
    
Explanation :
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Module : Module A
Chapter : Chapter3
129. The present CRR and SLR requirements are ________ , respectively.      Marks:   2+ 1-

    A.20% and 40%
    B.3% and 25%
    C.5% and 30%
The Correct Answer is :     B.3% and 25%
    Your Answer is Incorrect
    You Answered C.5% and 30%
Explanation :
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Module : Module A
Chapter : Chapter3
130. Present minimum capital adequacy ratio is 9% of      Marks:   2+ 1-

    A.Total liabilities
    B.Total assets
    C.Total risk weighted assets
The Correct Answer is :     C.Total risk weighted assets
    
    You Answered C.Total risk weighted assets
Explanation :
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Module : Module A
Chapter : Chapter3
131. New Prudential Accounting Norms cover      Marks:   2+ 1-

    A.interest rates
    B.Method of lending
    C.Deposits
    D.Capital adequacy, income recognition, Assets classification and Provisioning
The Correct Answer is :     D.Capital adequacy, income recognition, Assets classification and Provisioning
    
    You Answered D.Capital adequacy, income recognition, Assets classification and Provisioning
Explanation :
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Module : Module A
Chapter : Chapter3
132. A borrowal account is designated as non performing asset when the interest and/or instalment remains unpaid for      Marks:   2+ 1-

    A.1 quarter
    B.2 quarters
    C.3 quarters
    D.4 quarters
The Correct Answer is :     B.2 quarters
    Your Answer is Incorrect
    You Answered A.1 quarter
Explanation :
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Module : Module A
Chapter : Chapter3
133. RBI ensures that banks operate within set norms by conducting _________ inspections and _________ monitoring.      Marks:   2+ 1-

    A.on-site, off-site
    B.field, commodity prices
    C.stock, stock market
The Correct Answer is :     A.on-site, off-site
    
    You Answered A.on-site, off-site
Explanation :
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Module : Module A
Chapter : Chapter4
134. On-site inspection is followed by      Marks:   2+ 1-

    A.supervisory letter
    B.renewal of licence
    C.fresh audit
The Correct Answer is :     A.supervisory letter
    Your Answer is Incorrect
    You Answered B.renewal of licence
Explanation :
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Module : Module A
Chapter : Chapter4
135. Quarterly on-site visits are undertaken in respect of      Marks:   2+ 1-

    A.all banks
    B.urban co-operative banks
    C.newly licensed banks during first year
The Correct Answer is :     C.newly licensed banks during first year
    
    You Answered C.newly licensed banks during first year
Explanation :
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Module : Module A
Chapter : Chapter4
136. Frequency of First Tranche Returns is      Marks:   2+ 1-

    A.monthly
    B.monthly / quarterly
    C.monthly / quarterly / half-yearly
The Correct Answer is :     C.monthly / quarterly / half-yearly
    Your Answer is Incorrect
    You Answered B.monthly / quarterly
Explanation :
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Module : Module A
Chapter : Chapter4
137. Second Tranche of OSMOS returns cover      Marks:   2+ 1-

    A.asset quality
    B.liquidity and interest rate exposures
    C.ownership pattern of deposits
The Correct Answer is :     B.liquidity and interest rate exposures
    Your Answer is Incorrect
    You Answered C.ownership pattern of deposits
Explanation :
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Module : Module A
Chapter : Chapter4
138. Under Section 37 of the Banking Regulation Act, a moratorium order can be issued by the High Court for a maximum total period of      Marks:   2+ 1-

    A.one month
    B.six month
    C.one year
The Correct Answer is :     B.six month
    Your Answer is Incorrect
    You Answered C.one year
Explanation :
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Module : Module A
Chapter : Chapter4
139. When a banking company is placed under moratorium under Section 45 of B.R.Act, the RBI must prepare a scheme      Marks:   2+ 1-

    A.VRS for staff
    B.capital buy back
    C.reconstruction of the company or amalgamation with any other bank
The Correct Answer is :     C.reconstruction of the company or amalgamation with any other bank
    
    You Answered C.reconstruction of the company or amalgamation with any other bank
Explanation :
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Module : Module A
Chapter : Chapter4
140. An order for winding up a banking company can be issued by      Marks:   2+ 1-

    A.the High Court
    B.the RBI
    C.the Central Government
The Correct Answer is :     A.the High Court
    
    You Answered A.the High Court
Explanation :
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Module : Module A
Chapter : Chapter4
141. Principal function of banks are :      Marks:   2+ 1-

    A.accepting deposits
    B.lending and investing
    C.non fund business and remittance services
    D.all of above
The Correct Answer is :     D.all of above
    
    You Answered D.all of above
Explanation :
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Module : Module A
Chapter : Chapter4


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