MCQOPTIONS
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MCQOPTIONS
This section includes 815 Mcqs, each offering curated multiple-choice questions to sharpen your Current Affairs knowledge and support exam preparation. Choose a topic below to get started.
| 201. |
Mortgage is defined under |
| A. | contract act |
| B. | sale of goods act |
| C. | transfer of property act |
| D. | none of the above |
| Answer» D. none of the above | |
| 202. |
The banker has a lien on........ |
| A. | Bonds given for collection |
| B. | Bonds given for safe custody |
| C. | Bonds left by mistake |
| D. | (a) and (b) together |
| Answer» B. Bonds given for safe custody | |
| 203. |
In case a collecting banker has realized the cheque, he should pay the interest to the customer as perhis (customer’s) direction. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» B. False | |
| 204. |
ADR techniques include arbitration, conciliation, mediation and negotiation. |
| A. | yes |
| B. | no |
| C. | none |
| D. | none |
| Answer» D. none | |
| 205. |
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Actpopularly known as SARFAESI Act was enacted in which of the following year: |
| A. | 21st Day of June 2002 |
| B. | 30th Day of May 2002 |
| C. | 21st Day of July 2002 |
| D. | 21st Day of April 2002 |
| Answer» B. 30th Day of May 2002 | |
| 206. |
Hypothecation is a mode of security provided in |
| A. | Indian contract act 1872 |
| B. | transfer of property act 1882 |
| C. | banking regulation act 1949 |
| D. | SARFAESI Act 2002 |
| Answer» E. | |
| 207. |
Name the person to whom the amount of the cheque is payable? |
| A. | Drawer. |
| B. | Payee. |
| C. | Drawee. |
| D. | Acceptor |
| Answer» D. Acceptor | |
| 208. |
The best procedure for opening an account in the name of a minor X and the guardian Y would beunder the style............. |
| A. | 'X' Account |
| B. | 'b'-Account- Minor |
| C. | 'y' in trust for X |
| D. | 'y' account |
| Answer» D. 'y' account | |
| 209. |
Arbitration can be ad-hoc, contractual, institutional or statutory. |
| A. | yes |
| B. | no |
| C. | none |
| D. | none |
| Answer» B. no | |
| 210. |
The primary relationship between a banker and customer starts from the time. |
| A. | when customer visits that bank |
| B. | when customer opens account |
| C. | when customer visits that bank to made queries |
| D. | All of the above |
| Answer» C. when customer visits that bank to made queries | |
| 211. |
The Reserve Bank of India is given the responsibility of regulating and supervising the _________under Reserve Bank of India Act, 1934. |
| A. | Insurance Companies |
| B. | Transport Companies |
| C. | Banking Financial Companies |
| D. | Non-Banking Financial Companies |
| Answer» E. | |
| 212. |
Collecting a cheque payable to the firm to the private account of a partner without enquiryconstitutes....... |
| A. | gross negligence |
| B. | Negligence under remote grounds |
| C. | Negligence connected with immediate collection of a cheque |
| D. | Contributory Negligence |
| Answer» D. Contributory Negligence | |
| 213. |
There is legal obligation for a banker to collect the bills of exchange for its customer. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» C. none | |
| 214. |
As per the provisions of which act all financial institutions have to maintain a record for all form oftransactions? |
| A. | Companies Act, 1956 |
| B. | Credit Information (Companies Regulation Act, 2005) |
| C. | Information Technology Act, 2000 |
| D. | PMLA Act, 2002 |
| Answer» E. | |
| 215. |
Who can file a criminal case against the drawer of a dishonored cheque? |
| A. | The payee |
| B. | The holder in due course |
| C. | Both of the above |
| D. | The paying banker |
| Answer» D. The paying banker | |
| 216. |
How many branches of Payment banks must be in the unbanked rural area? |
| A. | 25% |
| B. | 50% |
| C. | 35% |
| D. | 75% |
| Answer» B. 50% | |
| 217. |
If cheque is crossed an account payee, this is direction of, ------------- to---------------. |
| A. | Payee, paying banker |
| B. | Payee, collecting bank |
| C. | Drawer, paying bank |
| D. | Drawer, collecting bank |
| Answer» E. | |
| 218. |
Banks are required to maintain SLR under which act? |
| A. | Section 24 of the Banking Regulation Act |
| B. | Section 35 of the Negotiable Instrument Act, 1881 |
| C. | Section 24 of RBI Act |
| D. | Section 40 of Indian Contract Act, 1872 |
| Answer» B. Section 35 of the Negotiable Instrument Act, 1881 | |
| 219. |
Neither possession nor ownership is transferred in.... |
| A. | Pledge |
| B. | mortgage |
| C. | Hypothecation |
| D. | none |
| Answer» D. none | |
| 220. |
RAM a transporter has been granted a loan for purchase of a truck. You will create which of thefollowing charge. |
| A. | Assignment |
| B. | a mortgage |
| C. | pledge |
| D. | hypothecation |
| Answer» E. | |
| 221. |
Indian ADR system is based on the Common law system |
| A. | False |
| B. | True |
| C. | none |
| D. | none |
| Answer» C. none | |
| 222. |
The Three Stages of Money Laundering are: |
| A. | Layering, Placement, Refining |
| B. | Placement, Refining, Integration |
| C. | Layering, Placement, Integration |
| D. | Layering, Refining, Integration |
| Answer» D. Layering, Refining, Integration | |
| 223. |
When a financial institution sells a mortgage with recourse, the financial institution retains a credit riskliability in the event the buyer returns the mortgage. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» B. False | |
| 224. |
Bank A grants an overdraft to ABC Ltd against book debts. This is secured by: |
| A. | hypothecation |
| B. | pledge |
| C. | mortgage |
| D. | assignment |
| Answer» E. | |
| 225. |
Before which for a can an asset reconstruction company file an application for enforcement of itssecurity interest: |
| A. | Debt Recovery Tribunal |
| B. | High Court |
| C. | District Court |
| D. | National Company Law Tribunal |
| Answer» B. High Court | |
| 226. |
Form of Balance sheet of banking Companies includes Reserve & Surplus in |
| A. | Schedule 1 |
| B. | Schedule 2 |
| C. | Schedule 3 |
| D. | Schedule 4 |
| Answer» C. Schedule 3 | |
| 227. |
FHA mortgages and VA mortgages are conventional mortgages. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» C. none | |
| 228. |
The services rendered by a banker as an agent of his customers are called |
| A. | Principal services |
| B. | Agency services |
| C. | General utility services |
| D. | Social services |
| Answer» C. General utility services | |
| 229. |
The liability of the mortgager is gradually reduced in the case of _______? |
| A. | Equitable mortgage |
| B. | Legal mortgage |
| C. | Usufructuary mortgage |
| D. | Conditional mortgage |
| Answer» D. Conditional mortgage | |
| 230. |
An Example of smurfing: |
| A. | Wiring money to the foreign country |
| B. | A drug dealer asking a stranger to buy a money order with drug money. |
| C. | A broker buying pesos with US Dollars |
| D. | None of the above. |
| Answer» B. A drug dealer asking a stranger to buy a money order with drug money. | |
| 231. |
The Short-Term Crop Loan given to Farmers are generally for a period of _____? |
| A. | 3 months |
| B. | 6 months |
| C. | 9 months |
| D. | 12 months |
| Answer» E. | |
| 232. |
Which of the following Committee recommended to form a new category of Bank Called PaymentBanks? |
| A. | Gadgil Committee |
| B. | M L Dhantwala Committee |
| C. | Nachiket Mor Committee |
| D. | P J Nayak Committee |
| Answer» D. P J Nayak Committee | |
| 233. |
Stamp duty on which of the following documents does not vary from state to state. |
| A. | Mortgage of agreements |
| B. | hypothecation agreements |
| C. | guarantees |
| D. | bills of exchange |
| Answer» E. | |
| 234. |
Which one of the following is the most important relationship between banker and customer. |
| A. | Debtor and Creditor |
| B. | Bailee and Bailor |
| C. | Agency and Principal |
| D. | Trustee and Beneficiary |
| Answer» B. Bailee and Bailor | |
| 235. |
How many Payment banks were approved by RBI in 2015? |
| A. | 7 |
| B. | 11 |
| C. | 41 |
| D. | 9 |
| Answer» C. 41 | |
| 236. |
Protection to the Paying Bank in case of alteration in a cheque is available under. |
| A. | Sec 85 of NI act |
| B. | Sec 89 of NI act |
| C. | Sec 90 of NI act |
| D. | Sec 98 of NI act |
| Answer» C. Sec 90 of NI act | |
| 237. |
In a bill of exchange, drawee is the person |
| A. | who draws the bill |
| B. | on whom the bill is drawn |
| C. | to whom the payment of the bill is to be made |
| D. | to whom the payment of the bill is not to be made |
| Answer» C. to whom the payment of the bill is to be made | |
| 238. |
The rate of interest charged for the loan by the banker compared to overdraft and cash credit isgenerally. |
| A. | High |
| B. | Low |
| C. | Same |
| D. | Based on the amount |
| Answer» C. Same | |
| 239. |
What is the minimum period of medium and long-term loans? |
| A. | 12 months |
| B. | 18 months |
| C. | 24 months |
| D. | 36 months |
| Answer» C. 24 months | |
| 240. |
The most risky charge from a banker’s point of view is ______? |
| A. | Pledge |
| B. | Hypothecation |
| C. | Mortgage |
| D. | Lien |
| Answer» C. Mortgage | |
| 241. |
Discounting of bills of exchange is |
| A. | Clean advance |
| B. | Secured advance |
| C. | Neither clean advance nor secured advance |
| D. | Unsecured advance |
| Answer» D. Unsecured advance | |
| 242. |
Conciliator would independently investigate into the dispute and draft his report indicating the method of settlement of disputes. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» B. False | |
| 243. |
In case of an Indian banking company, the sum of its paid-up capital and reserves if it has places ofbusiness in more than one State shall not be less than |
| A. | 5 Lakhs |
| B. | 12 Lakhs |
| C. | 15 Lakhs |
| D. | 18 Lakhs |
| Answer» B. 12 Lakhs | |
| 244. |
The endorsement on the cheque is fictitious and the collecting banker failed to check it the cheque ispaid by the paying banker |
| A. | collecting banker is not protected |
| B. | paying banker is protected |
| C. | collecting banker & paying banker are protected |
| D. | both are not protected |
| Answer» C. collecting banker & paying banker are protected | |
| 245. |
Which section of Banking Regulation Act 1949 relates with the Power of Reserve Bank to issuedirections in respect of stressed assets? |
| A. | Section 35AA |
| B. | Section 35AB |
| C. | Section 35B |
| D. | Section 35 BB |
| Answer» C. Section 35B | |
| 246. |
The right of set-off customers account can be exercised only by a----- |
| A. | Creditors |
| B. | Debtors |
| C. | Banker |
| D. | Customer |
| Answer» D. Customer | |
| 247. |
Bargaining is a common feature of the negotiation process. |
| A. | The negotiation process provides the parties an opportunity to exchange ideas, identify the irritant points of differences, find a solution, and get commitment from each other to reach an agreement. |
| B. | Even if a third party negotiator is involved in the process of negotiation, his role would be limited to inducing the parties to the process of negotiation. |
| C. | Mediators would have higher level of involvement in the settlement of disputes when compared to that of negotiators. |
| D. | All are true |
| Answer» E. | |
| 248. |
The award made by the Lok Adalat is deemed to be a decree of the civil court like arbitration Award. |
| A. | No |
| B. | Yes |
| C. | none |
| D. | none |
| Answer» C. none | |
| 249. |
Bankers undertake the duty of collection of cheques and bills because...... |
| A. | Sec.131 of the NI Act compels them to do so |
| B. | Sec.85 of the NI Act compels them to do so |
| C. | They want to do it as a service |
| D. | Collection is a must for a crossed cheque |
| Answer» D. Collection is a must for a crossed cheque | |
| 250. |
In the case of a joint stock co the registration of a charge is not required with registrar of companies for |
| A. | Pledge of moveable property |
| B. | hypothecation of moveable property |
| C. | assignment of book debts |
| D. | mortgage of fixed assets |
| Answer» B. hypothecation of moveable property | |