Banking Awareness Quiz for POs & Clerks 2017 - Set 117

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1. The payment of a lost demand draft is made to the _____________ ?
1. Purchaser
2. Payee
3. Nominee
4. Any of the above
5. None of these
2. In the case of granting loan against a life insurance policy, the banker should see  _____________ ?
   
1. The existence of insurable interest
2. The surrender value
3. The admission of age
4. All of the above
5. None of the above
3. When a debtor owes several debts to a banker and makes a payment, the right to appropriation lies with  _____________ ?
1. The banker
2. The debtor
3. The court
4. All of the above
5. None of the above
4. In terms of Section 31 of the Reserve Bank of India Act, 1934 a demand draft payable to bearer may be issued only by  _____________?
1. Nationalized Banks
2. Scheduled Commercial Banks
3. Reserve Bank of India
4. Foreign Banks
5. None of the Above
5. Unsigned demand draft is presented for payment, the drawee branch will  _____________?
1. Honour it
2. Dishonour it since it does not have a mandate of the drawer bank to pay it.
3. Honour it after seeking confirmation from the collecting bank
4. Honour it if it is for small amount
5. None of the above
6. When was SBI established ?
1. 1st April 1935
2. 31st July 1969
3. 5th May 1955
4. 1st July 1955
5. None of the above
7. The maximum number of partners in a non-banking partnership firm is ?
1. 20
2. 10
3. 25
4. 11
5. None of the above
8. Relationship between the RBI and the bank maintaining currency chest will be of  _____________
1. Trustee and beneficiary
2. Principal and agent
3. Licensor and licensee
4. Creditor and debtor
5. None of the above
9. An executor of deceased account is appointed under _____________ ?
1. Trust
2. Court 
3. Will
4. Family tradition
5. None of the above 
10. In Mutual Funds, NAV price of  _____________ ?
1. Entire fund value
2. One unit of a fund
3. Surrender value
4. Average value of shares
5. Dividends paid in a year
11. In order to enable private sector banks to attract and retain professional directors, the Reserve Bank has issued guidelines on compensation for non-executive Directors for implementation by private sector banks, that will reflect market realities and will be within the parameters specified in the :
1. Banking Regulation Act, 1949
2. The Indian Companies Act, 2013 (Amended)
3. RBI Act 1934
4. As per the directives of Indian Banks Association
5. Both 1 &  2
12. Cash deposit ratio means  _____________
1. The percentage of cash-in-hand-balance with the Central Bank to the aggregate deposits
2. The percentage of total deposits received by Banks
3. The percentage of total cash money received as deposits by banks
4. All the above
5. None of the above 
13. The full form of SREP used in Basel framework is _____________
1. Standard Review and Evaluation Process
2. Supervisory Review and Evaluation Process
3. Standardised Revision and Evaluation Practice
4. Supervisory Review and Electronic Process
5. None
14. In case of a usance bill a grace period of _____________  will be allowed to calculate due date of payment.
1. 3 days
2. 2 days
3. 1 day
4. 4 days
5. None of the above
15. In the case of FCNR accounts the payment of interest is effected in _____________
1. Indian Rupee
2. Only in Pound (£)
3. Same currency in which deposit stands
4. Yen
5. None
16. Working capital requirement depends upon  _____________
1. Level of activity
2. Types of business carried
3. Nature of Production cycle
4. All the above
5. None
17. In which of the Acts, specimen of the cheque, bill, promissory note is given ?
1. Negotiable Instruments Act
2. Banking Regulation Act
3. Mercantile Law
4. All of the above
5. None
18. RBI permitted CBS-enabled Co-operative Banks to issue ATM cards in tie-up with :
1. State Bank of India
2. Any Nationalised Bank
3. A sponsor bank
4. NABARD
5. 2 & 3
19. Who headed the RBI panel that has submitted its report titled 'Data Format for Furnishing of Credit Information to Credit In-formation Companies'.
1. Urjit Patel
2. A.K.Sharma
3. Aditya Puri
4. R.Gandhi
5. None of these 
20. After acceptance of a bill, the primary liability on a Bill of Exchange is that of  _____________
1. Payee
2. Acceptor
3. Drawee
4. Endorsee
5. All of the above
21. The main function of an Asset Management Company is to :
1. hold the securities of various schemes
2. manage the funds by making investments in various types of securities
3. hold its property for the benefit of the unit holders
4. act on behalf of SEBI
5. All the above
22. What is the limitation of the number of persons in a joint savings bank account ?
1. Two
2. Four
3. Five
4. Twenty
5. No limit
23. The minimum period under which a term deposit under Reinvestment Plan can be issued is  _____________
1. 24 months
2. 12 months
3. 6 months
4. 9 months
5. None
24.  A minor is admitted to the partnership firm as  _____________
1. Agent
2. Partner
3. Minor
4. Beneficiary
5. None

Shared by Shravan Varma Gadiraju

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