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.
| 251. |
Expand NEFT |
| A. | National Electronic Fund Transfer |
| B. | Neutral Electronic Fund Transfer |
| C. | Nominal Electronic Fund Transfer |
| D. | Natural Electronic Fund Transfer |
| Answer» B. Neutral Electronic Fund Transfer | |
| 252. |
It is a ----------------- obligation of a banker to honour the cheques of the customer drawn againstcurrent account. |
| A. | Mutual |
| B. | Statutory |
| C. | Unstatutory |
| D. | All of the above |
| Answer» C. Unstatutory | |
| 253. |
Who is primarily liable on a promissory note? |
| A. | Holder |
| B. | Maker |
| C. | Drawee |
| D. | Endorser |
| Answer» C. Drawee | |
| 254. |
Mortgage borrowers must pay 20 percent of the home’s purchase price at closing as a down payment. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» C. none | |
| 255. |
The litigants are always interested in substantive justice and not procedural justice. |
| A. | true |
| B. | false |
| C. | none |
| D. | none |
| Answer» B. false | |
| 256. |
The written instructions given by the customers to banker to perform the services like collection and payment of money is noted down in |
| A. | Written Instructions Book |
| B. | Standing Instructions Book |
| C. | Banking Instructions Book |
| D. | Services Instructions Book |
| Answer» C. Banking Instructions Book | |
| 257. |
Which of the following are covered under pledge? |
| A. | Actual delivery of the goods |
| B. | Factory type pledge |
| C. | Constructive delivery of the goods |
| D. | All the above |
| Answer» E. | |
| 258. |
As part of a mortgage agreement, a financial institution places a lien on the property until the loan ispaid in full. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» B. False | |
| 259. |
If the holder of a bill of exchange allows the drawee more than ___ hours, exclusive of public holidays, to consider whether he will accept the same, all previous parties not consenting to such allowance are thereby discharged from liability to such holder. |
| A. | 24 |
| B. | 12 |
| C. | 36 |
| D. | 48 |
| Answer» E. | |
| 260. |
An actuary is expected to: |
| A. | Make an exact forecast of the future liabilities of policies |
| B. | Make a reasonable forecast of the future liabilities of policies |
| C. | Calculate the premium required to cover a risk on a long-term basis |
| D. | Find the probability of an insured event to happen in non-life policies |
| Answer» C. Calculate the premium required to cover a risk on a long-term basis | |
| 261. |
The following one is a negotiable instrument, negotiable by usage or custom |
| A. | Bill of Exchange |
| B. | Accommodation Bill |
| C. | Promissory Note |
| D. | Share warrant |
| Answer» E. | |
| 262. |
Dishonour of Negotiable Instrument by Non Payment is covered under section in NegotiableInstrument Act 1882… |
| A. | Section 90 |
| B. | Section 91 |
| C. | Section 92 |
| D. | Section 93 |
| Answer» D. Section 93 | |
| 263. |
The following one is absolutely essential for a special crossing. |
| A. | Two parallel transverse lines |
| B. | Words "And company? |
| C. | Words "Not negotiable" |
| D. | Name of a banker |
| Answer» E. | |
| 264. |
In case of wrongful dishonour of a cheque by the banker |
| A. | the holder can claim from drawee bank |
| B. | the holder can claim from collecting bank |
| C. | the remedy for holder is against drawer |
| D. | holder can claim from drawee bank, collecting bank, drawer |
| Answer» D. holder can claim from drawee bank, collecting bank, drawer | |
| 265. |
The primary relationship between banker and customer is a ------------------ relationship. |
| A. | Mutual |
| B. | Contractual |
| C. | Personal |
| D. | None of the above |
| Answer» C. Personal | |
| 266. |
The payment should be made when the cheques are presented for payment within a reasonable time after being drawn and during banking hours. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» B. False | |
| 267. |
Which is India's first Payment bank? |
| A. | PayTM Payments Bank |
| B. | JIO Payment Banks |
| C. | Airtel Payments Banks |
| D. | Fino Payments Bank |
| Answer» D. Fino Payments Bank | |
| 268. |
Dishonour of cheque by a banker without any justifiable reason is called |
| A. | Valid dishonour of cheques |
| B. | Unmindful dishonour of cheques |
| C. | Negligence dishonour of cheques |
| D. | Wrongful dishonour of cheques |
| Answer» E. | |
| 269. |
What happens if a crossed cheque is presented for payment? |
| A. | It can be paid only through a banker |
| B. | It cannot be paid at all |
| C. | It can be paid across the counter in another bank |
| D. | None of the above |
| Answer» B. It cannot be paid at all | |
| 270. |
Which one of the following is the rate at which the RBI lends money to commercial banks in the eventof any shortfall of funds? |
| A. | Benchmark Prime Lending Rate |
| B. | Annual Percentage Rate |
| C. | Bank Rate |
| D. | Repo Rate |
| Answer» E. | |
| 271. |
Delay, unpredictability and cost are considered as three main enemies of efficient administration ofjustice. |
| A. | yes |
| B. | no |
| C. | cannot be said |
| D. | none |
| Answer» B. no | |
| 272. |
Section 45 of the Negotiable instruments Act, has imposed upon the banker the obligation to honourcustomers cheques. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» C. none | |
| 273. |
The paying banker can get protection for a materially altered cheque provided __. |
| A. | The alteration is not apparent. |
| B. | He makes payment in due course. |
| C. | The alteration is immaterial. |
| D. | Both A and B |
| Answer» E. | |
| 274. |
When banker received deposits from the customer, then the banker becomes -------------- of thecustomer. |
| A. | Debtor |
| B. | Creditor |
| C. | Bailee |
| D. | Trustee |
| Answer» D. Trustee | |
| 275. |
When customer's account overdrawn or when customer has taken loan from banker, then thecustomer. |
| A. | Creditor |
| B. | Agent |
| C. | Debtor |
| D. | Bailor |
| Answer» D. Bailor | |
| 276. |
In India, the law regulating the Negotiable instruments are |
| A. | Banking Regulation Act 1949 |
| B. | Reserve Bank of India Act 1934 |
| C. | Negotiable Instruments Act 1881 |
| D. | Companies Act 1956 |
| Answer» D. Companies Act 1956 | |
| 277. |
In case of banking company incorporated outside India, aggregate value of its paid-up capital andreserve shall not be less than Rs. __________. |
| A. | 5 Lakhs |
| B. | 12 Lakhs |
| C. | 15 Lakhs |
| D. | 18 Lakhs |
| Answer» D. 18 Lakhs | |
| 278. |
Section 6 of the Negotiable Instruments Act defines ___. |
| A. | Cheque |
| B. | Bill of Exchange |
| C. | Promissory Notes |
| D. | Dishonour by non-payment |
| Answer» B. Bill of Exchange | |
| 279. |
Services rendered by a banker not only to his customers, but also to the general public are called as |
| A. | Principal services |
| B. | Agency services |
| C. | General utility services |
| D. | Social services |
| Answer» D. Social services | |
| 280. |
What is pledge: |
| A. | The bailment of goods as security for payment of a debt or performance of a promise |
| B. | The delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the direction of the person delivering them |
| C. | A contract by which one party promises to save the other from loss caused to him by the contract of the promisor himself, or by the conduct of any other person |
| D. | A contract to do or not to do something, if some event, collateral to such contract, does or does not happen |
| Answer» B. The delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the direction of the person delivering them | |
| 281. |
Contigent Liabilities in case of banking Companies are included in_________. |
| A. | Schedule 9 |
| B. | Schedule 10 |
| C. | Schedule 11 |
| D. | Schedule 12 |
| Answer» E. | |
| 282. |
A negotiable instrument drawn or make in India is called_______ instrument. |
| A. | Inland |
| B. | Foreign |
| C. | Time |
| D. | Clean |
| Answer» B. Foreign | |
| 283. |
Lok Adalats have been given the powers of a civil court under the Code Civil Procedure. |
| A. | Yes |
| B. | No |
| C. | yes, but with limited jurisdiction |
| D. | none |
| Answer» D. none | |
| 284. |
The paying banker should pay the cheque when there is restriction imposed on the payment by the drawer or by the law. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» C. none | |
| 285. |
Which of the following Act refers to the acquisition and transfer of the undertakings of certainbanking companies? |
| A. | Companies Act, 1956 |
| B. | Credit Information (Companies Regulation Act, 2005) |
| C. | Banking Companies (acquisition and transfer of undertakings), 1970 |
| D. | Banking Regulation Act, 1949 |
| Answer» D. Banking Regulation Act, 1949 | |
| 286. |
A mortgage can neither sue for foreclosure nor for sale of the property in............... |
| A. | English mortgage |
| B. | Usufructuary mortgage |
| C. | Mortgage by conditional sale |
| D. | none |
| Answer» C. Mortgage by conditional sale | |
| 287. |
Special damages refers to damages payable by a banker to his customer for the actual ------------- losssuffered by customer. |
| A. | Financial |
| B. | Special |
| C. | Unpecuniary |
| D. | Unfinancial |
| Answer» B. Special | |
| 288. |
In the case of a banking company incorporated outside India balance-sheet and profit and lossaccount shall be signed by _________ of the company. |
| A. | Director of the principal office |
| B. | Owner agent of the principal office |
| C. | Manager or agent of the principal office |
| D. | Central Government |
| Answer» D. Central Government | |
| 289. |
Unstamped document cannot be rectified in case of……….. |
| A. | Mortgage deed |
| B. | Sale deed |
| C. | partition deed |
| D. | none of the above |
| Answer» E. | |
| 290. |
The pension plan in which the benefits of pension is paid by both parties involved , such as employersand employees is classified as |
| A. | Non- discretionary plan |
| B. | Discretionary plan |
| C. | Contributory plan |
| D. | Non – Contributory plan |
| Answer» D. Non – Contributory plan | |
| 291. |
Consider the following statements A) Chit Funds are type of NBFC B) All NBFCs are ruled by RBI C) RBI said any purchase of a stake of 26% or more in a company, or a change in more than 30% of its directors, would need the central bank's permission. Which of the above statements is/are correct? |
| A. | A,B |
| B. | B,C |
| C. | A,C |
| D. | All |
| Answer» D. All | |
| 292. |
The foreign exchange market |
| A. | Is organized as an over-the-counter market in which several hundred dealers stand ready to buy and sell deposits denominated in foreign currencies. |
| B. | Is very competitive. |
| C. | Functions no differently from a centralized market. |
| D. | All of the above. |
| Answer» E. | |
| 293. |
An increase in productivity in a country will cause its currency to _____ because it can produce goods at a_____ price. |
| A. | depreciate; lower |
| B. | appreciate; lower |
| C. | depreciate; higher |
| D. | appreciate; higher |
| Answer» C. depreciate; higher | |
| 294. |
Which of the following are the characteristics of a Mortgage Loan? |
| A. | It is secured against, immovable and fixed property |
| B. | It is a long term loan in nature |
| C. | It is repaid in small monthly installments along with interest |
| D. | All of the above |
| Answer» E. | |
| 295. |
Which among the following is the oldest development Financial Institution of India? |
| A. | UTI |
| B. | IDBI |
| C. | ICICI |
| D. | IFCI |
| Answer» E. | |
| 296. |
If a factor increases the demand for _____ goods relative to _____ goods, the domestic currency willappreciate. |
| A. | foreign; domestic |
| B. | foreign; foreign |
| C. | domestic; domestic |
| D. | domestic; foreign |
| Answer» E. | |
| 297. |
At present the RBI holds one percent of shareholding in |
| A. | SBI |
| B. | NHB |
| C. | NABARD |
| D. | RBI |
| Answer» D. RBI | |
| 298. |
Which is the financial development institution created specially for the small & medium enterprises |
| A. | SIDBI |
| B. | IDBI |
| C. | NABARD |
| D. | IFCI LTD |
| Answer» B. IDBI | |
| 299. |
The financial Market where debt and stocks are traded and maturity period is more than a year isclassified as: |
| A. | Shorter term Markets |
| B. | Capital Markets |
| C. | Counter Markets |
| D. | Long-term Markets |
| Answer» C. Counter Markets | |
| 300. |
In primary markets, the property of shares which made it easy to sell newly issued security isconcerned as: |
| A. | Increased Liquidity |
| B. | Decreased Liquidity |
| C. | Money Flow |
| D. | Large Funds |
| Answer» B. Decreased Liquidity | |