MCQOPTIONS
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MCQOPTIONS
This section includes 83 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Commerce (B Com) knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
.The person appointed to operate the account after his death by the deceased himself before his I death is called |
| A. | executor |
| B. | administrator |
| C. | attorney |
| D. | none of the above |
| Answer» C. attorney | |
| 52. |
The recurring deposit account combine the characteristics of .and fixed deposit account. |
| A. | savings account |
| B. | current account |
| C. | loan account |
| D. | none of the above |
| Answer» B. current account | |
| 53. |
Section 85(1) of the Negotiable Instrument Act 1881 provides protection to the paying banker in respect of |
| A. | forged endorsement |
| B. | material alterations on the face of the cheque |
| C. | forgery of drawer's signature |
| D. | all of these |
| Answer» B. material alterations on the face of the cheque | |
| 54. |
A bill should be presented for acceptance in case of insolvency of a drawee to |
| A. | official receiver |
| B. | drawee in case of need |
| C. | acceptor for honour |
| D. | none of the above |
| Answer» B. drawee in case of need | |
| 55. |
The banker's answer in case of dishonor of a cheque on a account of insufficiency of funds is generally |
| A. | refer to drawer (rd) |
| B. | no funds (nf) |
| C. | not arrang |
| D. | for (naf) |
| Answer» B. no funds (nf) | |
| 56. |
A joint account can be opened by the banker on receipt of application signed by |
| A. | majority of the joint account holders |
| B. | all joint account holders |
| C. | any joint account holder |
| D. | none of the above |
| Answer» C. any joint account holder | |
| 57. |
The title of the endorsee will not be better than of the endorser in case a cheque is crossed containing the words |
| A. | & co |
| B. | not negotiable |
| C. | account payee |
| D. | none of the above |
| Answer» C. account payee | |
| 58. |
When a banker collects a cheque for which he has already given cash,his position is that of a |
| A. | collecting bank |
| B. | dealer |
| C. | agent |
| D. | holder for value |
| Answer» E. | |
| 59. |
As per Basel-I ..capital can absorb losses without a bank being required to cease trading. |
| A. | tier-i |
| B. | tier-ii |
| C. | tier-iii |
| D. | none of these |
| Answer» B. tier-ii | |
| 60. |
Loan documents executed out of India must be presented for registration within .of its arrival in India. |
| A. | three months |
| B. | four months |
| C. | six months |
| D. | twelve months |
| Answer» C. six months | |
| 61. |
A customer requests for issue of a bearer demand draft. The banker should |
| A. | strike off the word 'order' and should put the word 'bearer' on the draft |
| B. | request the customer to go to the head office |
| C. | refuse to issue the draft |
| D. | none of the above |
| Answer» D. none of the above | |
| 62. |
Internet is the cheapest of all banking channels and helps banks to gain substantially in terms of .cost. |
| A. | auditing |
| B. | deposit |
| C. | investment |
| D. | transaction |
| Answer» E. | |
| 63. |
In periods of boom, which leads to economic instability, Reserve Bank resorts to |
| A. | sale in the market of first class securities in its possession to reduce the supply of money as a measure of open market operations |
| B. | buying of approved securities in the market as a measure of pen market operations |
| C. | hike in the bank rate as a measure of open market operations |
| D. | none of these |
| Answer» B. buying of approved securities in the market as a measure of pen market operations | |
| 64. |
Usance bills or promissory notes drawn out of India are required to be stamped by |
| A. | first holder in india |
| B. | any holder |
| C. | any party |
| D. | none of the above |
| Answer» B. any holder | |
| 65. |
The period of limitation in case of deposits with bankers from the date on which |
| A. | deposit was made |
| B. | deposit matures |
| C. | date of dema |
| D. | for payment by the customer |
| Answer» D. for payment by the customer | |
| 66. |
A and B have jointly hired a locker under "Either or Survivor" caluse. A dies. The bank should |
| A. | permit b to operate the locker |
| B. | seal the locker and open it only in the presence of b and a is legal representative |
| C. | permit operation by b a |
| D. | legal representative of a jointly |
| Answer» B. seal the locker and open it only in the presence of b and a is legal representative | |
| 67. |
A new category of scheduled banks came into existence in 1975 as RRBs under the |
| A. | regional rural banks ordinance,1975. |
| B. | regional reconstruction banks ordinance,1975. |
| C. | register |
| D. | rural banks ordinance,1975. |
| Answer» B. regional reconstruction banks ordinance,1975. | |
| 68. |
The banker advances money against immovable property only when the property is .to the banker. |
| A. | loan |
| B. | mortgaged |
| C. | pledg |
| D. | hypothicated |
| Answer» C. pledg | |
| 69. |
A minor can open and operate an account in his own name if he has atleast attained the age of |
| A. | 12 years |
| B. | 16 years |
| C. | 15 years |
| D. | none of the above |
| Answer» B. 16 years | |
| 70. |
What are the four categories as per Kapur Committee recommendations for loan applications under SSI segment |
| A. | upto 2 lacs, upto 15 lacs, upto 25 lacs, and above 25 lacs |
| B. | upto 10 lacs, upto 25 lacs, upto 50 lacs and above 50 lacs |
| C. | upto 2 lacs, upto 1 crores, upto 2 crores, a |
| D. | above 2 crores |
| Answer» B. upto 10 lacs, upto 25 lacs, upto 50 lacs and above 50 lacs | |
| 71. |
.The interest and principle amount of a loan not repaid by a customer in a bank ,the bank consider such loan as .. |
| A. | rd |
| B. | fd |
| C. | npa |
| D. | tod |
| Answer» D. tod | |
| 72. |
The Reserve Bank of India was originally constituted as a share holder's Bank with a share capital of -- |
| A. | rs. 50 lakh |
| B. | rs. 100 lakh |
| C. | rs. 10 crores |
| D. | rs. 5 crores |
| Answer» E. | |
| 73. |
Which bank has become the first foreign bank to open a branch inIsrael's diamond exchange: |
| A. | american express bank |
| B. | citibank |
| C. | standa |
| D. | chartered bank |
| Answer» E. | |
| 74. |
What unique distinction do the General Bank of India and the Bank of Hindustan founded in and around 1786 posses in the context of Indian banking history? |
| A. | they are not registered banks |
| B. | they are owned by rbi |
| C. | they are first indian banks |
| D. | they are nationalized banks. |
| Answer» D. they are nationalized banks. | |
| 75. |
Which type of securities are held by Reserve Bank of India before issuance of currency notes ? |
| A. | gold coins and bullion |
| B. | foreign securities |
| C. | government of india's securities |
| D. | all of these |
| Answer» E. | |
| 76. |
The banker advances money against immovable property only when the property is .. to the banker |
| A. | Mortgaged |
| B. | Pledged |
| C. | Hypothecated |
| D. | None of these |
| Answer» B. Pledged | |
| 77. |
Under Section 17 of the Banking Regulation Act 1949, every banking company incorporated in India is required to transfer each year to a reserve fund a sum equivalent to not less than |
| A. | 10 per cent of profit before dividends; |
| B. | 20 per cent of profit after interest tax and dividend; |
| C. | 25 per cent of profit before dividends; |
| D. | 5 per cent of gross profit |
| Answer» D. 5 per cent of gross profit | |
| 78. |
The area of operation of banks are maximum of three geographically neighbouring districts and they are allowed to open branches only in their area of operation. |
| A. | local area banks |
| B. | co-operative banks |
| C. | rrb |
| D. | foreign exchange banks |
| Answer» B. co-operative banks | |
| 79. |
The minimum percentage of Priority Sector advances to be maintained by foreign banks in India is . |
| A. | 40% |
| B. | 22% |
| C. | 32% |
| D. | 18% |
| Answer» D. 18% | |
| 80. |
.banks are those banks which are incorporated outside India and their head offices are also situated outside India |
| A. | Foreign banks |
| B. | Scheduled banks |
| C. | Non- scheduled banks |
| D. | Commercial banks |
| Answer» B. Scheduled banks | |
| 81. |
The powers of the Board of Directors to borrow from the bank are mentioned in |
| A. | article of association |
| B. | memorandum of association |
| C. | special resolution |
| D. | a & b |
| Answer» C. special resolution | |
| 82. |
.. banks are those banks which are incorporated outside India and their head office are also situated outside India. |
| A. | foreign exchange bank |
| B. | schedule bank |
| C. | non-schedul |
| D. | bank |
| Answer» B. schedule bank | |
| 83. |
Banks have adopted asset-liability management and stress testing as a tool of . |
| A. | profit management |
| B. | risk management |
| C. | loss management |
| D. | opportunity management |
| Answer» C. loss management | |