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.
| 101. |
The microfinance movement in India has been initiated by |
| A. | SIDBI |
| B. | SBI |
| C. | NABARD |
| D. | RRBs |
| Answer» D. RRBs | |
| 102. |
The Financial statement provides accurate and time ……………. Which is useful for all. |
| A. | Financial Information |
| B. | Liabilities. |
| C. | Assets Information |
| D. | Marketing Information |
| Answer» B. Liabilities. | |
| 103. |
What is Pradhan Mantri Suraksha Bima Yojana (PMSBY) Life insurance cover |
| A. | Accidental insurance cover |
| B. | Life insurance cover |
| C. | Overdraft up to Rs.5,000/- |
| D. | None of above |
| Answer» B. Life insurance cover | |
| 104. |
The calorie requirement is higher in the rural areas because: |
| A. | (a) they do not enjoy as much as people in the urban |
| B. | (b) food items are expensive. |
| C. | (c) they are engaged in mental work. |
| D. | (d) people are engaged in physical |
| Answer» E. | |
| 105. |
Self Help Group involves |
| A. | Group of 5 to 20 people |
| B. | Regular saving habits |
| C. | Inter-lending within the group members |
| D. | All of above |
| Answer» E. | |
| 106. |
In microfinance the demand side constraints is |
| A. | lack of awareness |
| B. | distance from bank branch |
| C. | unsuitable product |
| D. | communication |
| Answer» B. distance from bank branch | |
| 107. |
What is 'Bank rate'? |
| A. | The rate at which commercial banks borrow |
| B. | The rate at which commercial banks |
| C. | The rate at which commercial banks |
| D. | none of the above |
| Answer» B. The rate at which commercial banks | |
| 108. |
Form of Balance sheet of banking Companies includes Fixed assets in |
| A. | Schedule 8 |
| B. | Schedule 9 |
| C. | Schedule 10 |
| D. | Schedule 11 |
| Answer» D. Schedule 11 | |
| 109. |
A -------------- is a person who is entrusted with some property by the settler or the author of the trustfor the benefit of another person called beneficiary. |
| A. | Attorney |
| B. | Executor |
| C. | Administrator |
| D. | Trustee |
| Answer» E. | |
| 110. |
Under Hypothecation charge |
| A. | The ownership and possession of goods are with Bank |
| B. | The ownership is with borrower but possession is with Bank |
| C. | The ownership and possession are with borrower |
| D. | The ownership is with Bank but possession with borrower |
| Answer» D. The ownership is with Bank but possession with borrower | |
| 111. |
The relationship between a banker and customer is............ |
| A. | That of a debtor and creditor |
| B. | That of a creditor and debtor |
| C. | Primarily that of a debtor and a creditor |
| D. | (a) and (b) together |
| Answer» D. (a) and (b) together | |
| 112. |
Where a person pledges goods in which he has only a limited interest, the pledge is: |
| A. | Invalid to the extent of that interest |
| B. | Entire contract is invalid |
| C. | Valid to the extent of that interest |
| D. | Entire contract is valid |
| Answer» D. Entire contract is valid | |
| 113. |
Which of the following activities cannot be undertaken by a Payments Bank? |
| A. | Accept deposits |
| B. | Payment of Utility Bills |
| C. | Lending Money |
| D. | None of the above |
| Answer» D. None of the above | |
| 114. |
The most important feature of a negotiable instrument is |
| A. | Free transfer |
| B. | Transfer free from defects |
| C. | Right to sue |
| D. | Both A & B |
| Answer» E. | |
| 115. |
The most undesirable customer is....... |
| A. | A minor |
| B. | A married Woman |
| C. | An unregistered firm |
| D. | An undischarged bankrupt |
| Answer» E. | |
| 116. |
When financial institutions and banks undertake activities related to banking like investment, issue ofdebit and credit card etc then it is known as _____________________. |
| A. | Internet banking |
| B. | Universal banking |
| C. | Virtual Banking |
| D. | Wholesale banking |
| Answer» C. Virtual Banking | |
| 117. |
The collecting banker is bound to show due care and carefulness in the collection of cheques presentedto him. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» B. False | |
| 118. |
An equitable mortgage can be created in respect of _______? |
| A. | Government securities |
| B. | Real estate |
| C. | Wheat in a godown |
| D. | Life Policies |
| Answer» C. Wheat in a godown | |
| 119. |
____________________are excluded from the Banking Regulation Act 1949. |
| A. | Public and Private Sector Banks |
| B. | Primary Agricultural Credit Society and cooperative land mortgage banks |
| C. | SEBI |
| D. | Regional Rural Banks |
| Answer» C. SEBI | |
| 120. |
Which of the following is not a security interest: |
| A. | Any mortgage, charge, hypothecation, assignment or any right, title or interest of any kind, on tangible asset, retained by the secured creditor as an owner of the property, given on hire or financial lease or conditional sale or under any other contract. |
| B. | Such right, title or interest in any intangible asset or assignment or license of such intangible asset which secures the obligation to pay any unpaid portion of the purchase price of the intangible asset or the obligation incurred or any credit provided to enable the borrower to acquire the intangible asset or license of intangible asset |
| C. | A lien on any goods, money or security given by or under the Indian Contracts Act, 1872 or the Sale of Goods Act, 1930 or any other law for the time being in force |
| D. | Lien of goods, pledge of movables, security interest of less than Rs. One Lakh |
| Answer» D. Lien of goods, pledge of movables, security interest of less than Rs. One Lakh | |
| 121. |
A pledge can be made in respect of.... |
| A. | Shares |
| B. | Building |
| C. | Book debts |
| D. | none |
| Answer» B. Building | |
| 122. |
Change of name by a banking company only happens with the approval of __________? |
| A. | RBI |
| B. | Government of India |
| C. | Registrar |
| D. | Auditor |
| Answer» B. Government of India | |
| 123. |
A cheque dated subsequent to the date of its issue is |
| A. | Post dated cheque |
| B. | Blank cheque |
| C. | Crossed cheque |
| D. | Account payee cheque |
| Answer» B. Blank cheque | |
| 124. |
A cheque has been deposited by a customer with his bank for collection. The bank allows overdraftagainst the security thereof. The bank becomes |
| A. | Holder of the cheque |
| B. | Holder in due course |
| C. | Holder for value |
| D. | Drawer of the cheque |
| Answer» D. Drawer of the cheque | |
| 125. |
Copies of balance-sheets and accounts to be sent to____________. |
| A. | RBI |
| B. | Government of India |
| C. | Registrar |
| D. | Auditor |
| Answer» D. Auditor | |
| 126. |
How many parties are mainly involved in Promissory Note? |
| A. | One |
| B. | Five |
| C. | Two |
| D. | Three |
| Answer» D. Three | |
| 127. |
In Negotiable Instruments Act 1881, which section defines promissory note? |
| A. | Section 1 |
| B. | Section 2 |
| C. | Section 3 |
| D. | Section 4 |
| Answer» E. | |
| 128. |
Collateral securities can be _____? |
| A. | Tangible |
| B. | Intangible in the shape of personal guarantee of a third party |
| C. | security given to get credit facilities/loan |
| D. | All of the above |
| Answer» E. | |
| 129. |
Pledge of advance is made against ______? |
| A. | Gold |
| B. | Commodities |
| C. | Coins and notes |
| D. | All the above |
| Answer» C. Coins and notes | |
| 130. |
The paying banker is expected to pay the cheque to the genuine payee as per the direction of the drawer. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» B. False | |
| 131. |
“Court procedure is justice-oriented, whereas ADR’s merit also lies in the fact that the process is participatory and solution-oriented”. |
| A. | Yes |
| B. | No |
| C. | There exist doubt on the given proposition |
| D. | none |
| Answer» B. No | |
| 132. |
What type of mortgages are used to finance the acquisition of apartment complexes, townhouses, andcondominiums? |
| A. | Commercial mortgages |
| B. | Single family mortgages |
| C. | Farm mortgages |
| D. | Multifamily dwelling mortgages |
| Answer» E. | |
| 133. |
Which of the following is/are true about the Negotiable Instruments Act, the Promissory Note is … A) Definition of Promissory Note is given in section 8 of the Negotiable Instrument Act B) Containing an unconditional undertaking C) To pay a certain sum of money only to a specific person or the bearer D) The seller is bound to accept the promissory note E) A document was written and signed by the payer/maker |
| A. | (A), (B) and (C) |
| B. | (B), (C) and (E) |
| C. | (B), (C), and |
| Answer» C. (B), (C), and | |
| 134. |
A charge where there is neither the transfer of ownership nor the possession is called ______? |
| A. | Hypothecation |
| B. | Lien |
| C. | Pledge |
| D. | Mortgage |
| Answer» B. Lien | |
| 135. |
In case of sufficiency of funds in the account of the drawer which can be properly used to pay thecheque, the banker must pay the cheque when required to do so. |
| A. | True |
| B. | False |
| C. | none |
| D. | none |
| Answer» B. False | |
| 136. |
It is a ----------------- obligation of a banker to honour the cheques of the customer drawn againstcurrent |
| A. | Mutual |
| B. | Statutory |
| C. | Unstatutory |
| D. | All of the above |
| Answer» C. Unstatutory | |
| 137. |
The written instructions given by the customers to banker to perform the services like collection andpayment 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 | |
| 138. |
In a contractual arbitration the jurisdiction of courts can be completely ousted under 1996 Act. |
| A. | No |
| B. | yes, statutory provisions can be ousted |
| C. | yes, it can be partially ousted |
| D. | Yes it can be ousted, but for enforcing the award interference of court is needed |
| Answer» D. Yes it can be ousted, but for enforcing the award interference of court is needed | |
| 139. |
Conciliation is a private, informal process in which a neutral third person helps disputing parties toreach an agreement. |
| A. | True |
| B. | partially true |
| C. | true up to the extent that a neutral third person helps disputing parties to reach an agreement |
| D. | none |
| Answer» B. partially true | |
| 140. |
A collecting banker is given protection only when he collects |
| A. | A crossed cheque |
| B. | An order cheque |
| C. | An Bearer Cheque |
| D. | An mutilated cheque |
| Answer» B. An order cheque | |
| 141. |
Mediation can be termed as assisted negotiation. |
| A. | No |
| B. | Yes |
| C. | yes and the mediator plays the role of a facilitator in attaining cooperation between the parties to the dispute |
| D. | none |
| Answer» D. none | |
| 142. |
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 |
| Answer» B. Performance guarantee | |
| 143. |
According to Sec. ______, a banking company is not permitted to pay directly or indirectly by way of commission, brokerage, discount or remuneration on issues of its shares in excess of 2½% of the paid-up value of such shares. |
| A. | 10 |
| B. | 11 |
| C. | 12 |
| D. | 13 |
| Answer» E. | |
| 144. |
Which of the following is/are true about bill of exchange? A) A bill of exchange requires in its inception two parties. B) A bill of exchange or “draft” is a written order by the drawer to the drawee to pay money to the payee. C) Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date. D) Definition of ‘Bill of Exchange’ is mentioned in Section 6 of the Negotiable Instrument Act. |
| A. | (A) and (D) |
| B. | (A), (B) and (D) |
| C. | (B) and (C) |
| D. | (C) and (D) |
| Answer» D. (C) and (D) | |
| 145. |
A banker's lien is........... |
| A. | general lien |
| B. | particular lien |
| C. | Negative lien |
| D. | none |
| Answer» B. particular lien | |
| 146. |
The paying banker who makes cash payment of a cross cheque at the counter shall be liable for the lossof |
| A. | Drawer of the cheque |
| B. | True owner of the cheque |
| C. | Collecting banker |
| D. | the First endorser |
| Answer» C. Collecting banker | |
| 147. |
The bank can consider ------------------ lien as their protection against loss on loan or overdraft whichwas given to its customers. |
| A. | Special |
| B. | Particular |
| C. | General |
| D. | Lending |
| Answer» B. Particular | |
| 148. |
To get statutory protection, paying banker must make: |
| A. | Payment to a holder |
| B. | Payment to a holder in due course |
| C. | Payment in due course |
| D. | Payment to a drawee in case of need |
| Answer» D. Payment to a drawee in case of need | |
| 149. |
Cheque is payable on |
| A. | Demand |
| B. | Usage |
| C. | Fixed future date |
| D. | After sight |
| Answer» B. Usage | |
| 150. |
A bank finances an agriculturist to buy a tractor. The loan is secured by: |
| A. | Hypothecation of the tractor |
| B. | Mortgage of the tractor |
| C. | Pledge of the tractor |
| D. | Assignment of the tractor |
| Answer» B. Mortgage of the tractor | |