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Banking knowledge Series (November -2)

1)     Which of the following is not a memory device:
a) Micro Processor b) Hard Disk c) RAM d) ROM e) None of these
2)     Which of the following programs should be used for typing a fetter:
a) MS Excel         b) MS Access            c) MS Power Point   d) MS Word
e) None of the above

3)     Amit deposits money in Shaft's account. Bhatt says that this money does not belong to him. What is the best suitable solution for the bank :
a)     Debit Bhatt's A/c & pay it to Amit
b)     Debit Bhatts's A/c & keep it in unclaimed A/c
c)     Bank has nothing to do, depositor has to sort out
d)     Call Amit & pay cash by debiting Bhatts's A/c as the money does not belong to Bhatt.               e) None of these.

4)     A & B hold a term deposit for Rs 10,000/- with your branch, payable to former or survivor. A approaches the bank for a loan of Rs 5.000/-. B comes to know of it and instructs the bank in writing that no loan should be granted without his. consent, as TDR is a joint one. How will you act:
a)     You will not grant the loan b) You will insist on a joint discharge of A& B
c) B will be told to produce an injunction from the Court .
d) A can avail the loan in his own right during his lifetime. B has no say in the matter                        e) None of these.

5)     An inchoate instrument is one which does not have:
a) The amount                 b) The date                c) Name of the payee
d) Signature of the drawer                    e) a, b & c

6)     A cheque issued in favour of Smt. Ajay Devgun can be endorsed as:
a) Smt. Ajay Devgun      b) Ajay Devgun        c) Kajol w/o Ajay Devgun
d) a & c both                   e) None of these.

7)     A Cheque bears a notation "Valid for one month". However it is presented for payment after two months from the date of its issue.
a) The cheque will be returned with the remarks "Drawer's revalidation required".
b) The cheque will be returned with the remarks" Irregularly drawn".
c) Since a cheque becomes stale after six months, it will be paid.
d) It is not possible to reduce the validity period of a cheque, which is 6 months.
e) a + b above.

8)     In the case of wrongful dishonour of cheques, the drawee banker is liable for damages:
a) If the payee suffers any loss; or      b) If the endorsee suffers any loss; or.
c) If the customer suffers any loss; or            d) If the presenter suffers any loss.
e) All the above

9)     The crossing which does not confer a better title en the transferee than the transferor himself is known as:
a) Qualified crossing; or           b) 'Account payee' crossing; or
c) Special crossing; or               d) 'Not Negotiable' crossing

10)A bill of exchange reads as under: 'Pay to our order Rupees 50.000/- for value received". In the above case:
a) Since the bill does not specify any time for payment, the drawee has discretion to pay it as per his own convenience.
b) The bill is payable on demand.
c) The bill is an inchoate Instrument and hence its payment cannot be enforced.
d) None of these.


1 comment:

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