Quest For Clerk Mains: Banking Quiz

1. Crossing denotes
(1) that the cheque will not be paid across the counter but will be credited to the account of the holder
(2) that the cheque cannot be transferred by the payee named therein
(3) that the cheque will be paid through clearing only
(4) a direction to the paying bank to make payment of the cheque through a bank
(5) none of the above

2. Who is primarily liable on a cheque?
(1) Drawee banker
(2) Drawer
(3) Payee
(4) Collecting banker
(5) none of the above 

3. In the case of a demand draft
(1) Drawer, drawee and payee are the same
(2) Drawer, drawee and payee are different
(3) Drawer and drawee are the same but he payee is different
(4) Drawer and payee are the same but the drawee is different
(5) none of the above

4. Demand draft is a
(1) not negotiable instrument
(2) not transferable instrument
(3) negotiable instrument
(4) Quasi-negotiable instrument
(5) none of the above

5. The Kisan Credit Card Scheme is being implemented by all
(1) Public Sector Commercial Banks
(2) Regional Rural Banks
(3) State Cooperative Banks/DCCBs/PACS nad Scheduled Primary Cooperative Banks
(4) All of the above
(5) None of the above

6. Which of the following Statements about Kisan Credit Cards are correct?
(1) Banks may provide Kisan Credit Cards to farmers who are eligible for sanction of production credit without any floor limit
(2) Credit would be available to the farmers under the scheme in the form of revolving cash credit normally valid for three years, subject to an annual review
(3) The Scheme covers term credit as also working capital for agriculture and allied activities, in addition to short term credit limit for crop/s
(4) all of the above
(5) none

7. NBFCs consist of
(1) Equipment Leasing Company and Investment Company
(2) Hire purchase Finance Company and Mutual Benefit Finance Company
(3) all of the above
(4) None of the above

8. The main functions of mutual funds are
(1) collection of funds from a larger of investors
(2) investment of funds so collected in capital markets
(3) holding investment in trust and to diversify the risk in the investment, proper management of portfolio with an object to optimize the returns
(4) all of the above
(5) none of the above

9. An open ended fund means
(1) the fund exists for perpetuity. There is no ceiling on the amount to be collected or raised
(2) investors are assured of dividends, capital appreciation and safety of their investments
(3) a repurchase facility close to Net Asset Value (NAV)
(4) all of the above
(5) none of the above 

10. A close ended fund means
(1) the corpus is of fixed size with a definite redemption period
(2) listing on stock exchanges provides easy liquidity
(3) the market price is always below the Net Asset Value
(4) all of the above
(5) none of the above


1. 4
2. 2
3. 3
4. 3
5. 4
6. 4
7. 4
8. 2
9. 4

10. 4

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