Tuesday, 5 April 2016

Banking Quiz for Bank exams

Dear Readers,

As all of you know that Bank recruited in thousands last year and they will repeat the same this  year. And Banking Exams always asks banking terminologies and banking history.So we are starting banking awareness quiz so that BA'ians can brace up before exam.

1.There is a joint account in the name of Khem Singh and his wife KartarKaur with a mandate : “to be operated by either or survivor”. Both are in dispute and each of them has instructed the bank not to honour the signature of the other in future :
A. the balance of the account will be paid to Khem Singh against a proper receipt 
B. further operations on the account will be stopped, but the cheques already drawn by either of them and yet not presented will be honoured
C. further operations on the account will be stopped till a fresh mandate signed by both of them is received 
D. the account will be closed and the balance remitted to them 

2.The term “kite flying” in banking refers to : 
A. drawing a cheque without providing sufficient funds to meet it 
B. drawing and acceptance of a bill of exchange without consideration with a view to accommodate the other party 
C. the practice of paying usance bills before they become due 
D. drawing a post-dated cheque

3.The re-endorsement of unpaid bills of exchange in favour of the remitting bank or the constituent to whom they are returned must be followed by the words : 
A. in case of need please refer to 
B. without recourse to us 
C. payable at the State Bank of India 
D. None of the above 

4.The amount of advance which may be granted against the security of a life insurance policy depends on:
A. the amount of the insurance policy 
B. the surrender value of the policy 
C. payable at the State Bank of India 
D. None of the above 

5.The primary relationship between the banker and the customer is that of : 
A. trustee and beneficiary 
B. debtor and creditor 
C. principal and agent 
D. lesser and lessee 

6.The purpose of providing depreciation on the bank’s property is : 
A. to reduce the profit of the bank 
B. to make usual allowances for annual wear and tear 
C. to enable the bank to recover this amount  from the Reserve Bank of India 
D. to strengthen the financial position of the bank 

7.A debt becomes time-barred after : 
A. one year 
B. two and a half year 
C. three years 
D. five years 

8.Bank rate is : 
A. a rate of interest charged by the commercial banks from the borrowers for advances against Government Securities 
B. the lowest rate of interest charged by the commercial banks from the borrowers 
C. the rate of which the Reserve Bank of India would rediscount bills of exchange or other eligible commercial papers, or advance against eligible securities to the scheduled banks 
D. the rate at which commercial banks discount bill of exchange for their customers 

9.A cheque which was returned with the remarks: “Effects drawn against not yet cleared. Please present again”, has been represented and there are no funds in the account to pay it : 
A. the cheque should be paid as the banker is under obligation to it 
B. the cheque should be paid and the customer asked to put the account in order 
C. the cheque should be returned with the answer: “Refer to drawer” 
D. none of the above 

10.In case of a Hindu Undivided Family, when Karta dies leaving overdraft account: 
A. old account is closed and a new account opened 
B. fresh HUF letter is obtained 
C. all the co-parceners will operate on the account 
D. none of the above 

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