Banking Awareness Quiz - Set 111

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1. A minor can open and operate account in his name if he has completed ___________ years of age provided he has the ability to read and write.
1. 10
2. 14
3. 12
4. 13
5. None of the above 
2. An illiterate minor can open a self-operated SB account only if :
1. He has attained the age of 10 years
   
2. He has completed the age of 10 years
3. He belongs to Hindu caste
4. 2 and 3
5. Account cannot be opened 
3. Where a guardian is appointed by court, the minor attains majority on completion of ___________ years of age.
1. 18
2. 20
3. 21
4. 22
5. None of the above
4. Which of the following Act provides that the maximum number of partners in a firm should not exceed 100 ?
1. Banking Regulation Act, 1949
2. Reserve Bank of India Act, 1934
3. Indian partnership act, 1932
4. Indian companies Act, 1956 amended in 2013
5. Negotiable Instruments Act 
5. A partnership firm is registered with :
1. Registrar of Companies
2. Registrar of Firms
3. Registrar of Assurances
4. Not to be registered
5. None of the above 
6. A maximum number of share-holders a private limited company can have is :
1. 50
2. 100
3. 150
4. 200
5. 500
7. The drawee of a cheque can be :
1. The person in whose name the cheque is issued
2. The person who issued the cheque
3. Paying banker
4. Collection Banker
5. None of the above
8. The objects of the company for which it is formed is mentioned in :
1. Memorandum of Association
2. Articles of Association
3. Certificate of Commencement of Business
4. Certificate of Incorporation
5. None of the above
9. The Companies Act Amendment Bill, 2013 provides that every ___________ company must have one woman director in their Board.
1. Public
2. Listed
3. Private
4. Government
5. Both 1 & 2
10. The deposit Insurance Scheme of DICGC does not cover deposits kept in the following banks?
1. Foreign banks
2. Co-operative banks
3. Regional Rural bank
4. None of the above
5. 1 & 2
11. Nomination facility in banks is available as per the provisions of :
1. Reserve Bank of India Act
2. Banking Companies (Acceptances of Nomination) Act
3. Nomination Act
4. Banking Regulation Act
5. Negotiable Instruments Act 
12. Nomination can be accepted in which of the following type of account ?
1. Individual SB Account
2. Joint SB Account
3. Current Deposit Account
4. Sole Proprietorship Account
5. All the above 
13. The KYC has been introduced in banks with a view to curtail ___________ .
1. Tax evasion
2. Corruption
3. Money Laundering
4. Non Performing Asset
5. None of the above 
14. The violation of KYC principles will attract penalty as per which of the following Act ?
1. Reserve Bank of India Act
2. Banking Regulation Act
3. Prevention of Money Laundering Act
4. Negotiable Instruments Act
5. FEMA
15. For e-KYC, bank need not have ___________ of the account holder.
1. Express consent
2. Aadhaar number
3. Biometric authentication
4. Address proof
5. None of the above 
16. Which of the following full forms of the abbreviations are correct?
1. AML - Anti Money Laundering
2. CAP - Customer Acceptance Policy
3. CIP - Customer Identification Procedure
4. FIUIND - Financial Intelligence Unit-India
5. All the above 
17. As per the banks term deposit scheme 2006, notified by the CBDT, no indemnity need be iss-ued, in case of issue of duplicate receipt if the deposit amount does not exceed Rs.__________
1. 5,000
2. 1,000
3. 2,500
4. 500
5. None of the above 
18. Form No. ___________ is to be taken for not deducting tax at source on interest on deposits from persons other than senior citizens .
1. 15G
2. 15C
3. 15HH
4. 15D
5. 60 or 61 
19. TAN is to be obtained by apply-ing to Income Tax Authorities in form  ___________
1. 49A
2. 203A
3. 49B
4. 203
5. None of the above 
20. The BSBD account can be opened only by which of the following types of depositors?
1. Persons who come under BPL category
2. Any person living in rural area
3. 1 or 2
4. Any person
5. Only for Physically Challenged Persons

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