Q1. In case of original demand draft is presented after the duplicate has already been paid, the bank will _______?
(a) Pay the original demand draft
(b) Pay the original demand draft as well and recover the amount from the purchaser on the strength of the indemnity bond
(c) Return with remarks “Draft reported lost, duplicate already paid will pay on collecting bank’s guarantee. In case the original draft is again presented, it should be honoured.”
(d) Return with the remarks payment stopped by the payee
(e) None of the above
Q2. The Central Bank in India is ______?
(a) The Reserve Bank of India
(b) The State Bank of India
(c) The Andhra Bank
(d) Central Bank of India
(e) None of the above
Q3. Stock exchange securities do not include?
(a) Debentures certificates
(b) Small debentures issued by port trusts
(c) Government promissory notes
(d) Reverse Repo Rate
(e) None of the above
Q4. The Definition of ‘Banking’ is given in-
(a) Negotiable Instrument Act, 1881
(b) RBI Act, 1934
(c) The Banking Regulation Act, 1949
(d) Contract Act
(e) None of the above
Q5. When was SBI established?
(a) April 1, 1935
(b) July 31, 1969
(c) May 5, 1955
(d) July 1, 1955
(e) None of the above
Q6. All of the following are examples of Quasi negotiable instruments, under the Negotiable Instrument Act, 1881, except.....?
(a) dividend warrants
(b) share warrants
(c) bearer debentures
(d) promissory note
(e) None of the above
Q7. Which of the following is not the essential requirement for the endorsement as per Negotiable Instrument Act, 1881?
(a) It should be on the instrument
(b) It should be made by the holder or the maker
(c) Signatures should be in ink and not by pencil or rubber stamp
(d) It should contain unconditional order
(e) The endorser should sign the endorsement in the same style and with the same spellings as written in the instrument
Q8. With reference to a cheque which of the following is the “drawee bank”?
(a) The bank that collects the cheque
(b) The payee's bank
(c) The endorsee's bank
(d) The endorser's bank
(e) The bank upon which the cheque is drawn
Q9. Which of the following is not a party of bill of exchange?
(a) The drawer
(b) The drawee
(c) The payee
(d) The endorser
(e) None of the above
Q10. In terms of Section 5(1) (5) of the Banking Regulation Act, 1949, a ‘banking company’ means any company which...?
(a) accepts deposits from the public
(b) undertakes lending of money
(c) transacts the business of banking in
(d) All of the above
(e) None of the above
Q11. Under the Corporate Debt Restructuring (CDR) mechanism, loan assets of banks have been categorized. Which one of the following statements is not correct?
(a) Assets belonging to Standard and Sub-Standard category come under category I
(b) Assets belonging to Doubtful category come under category II
(c) Assets belonging to Doubtful and Loss categories come under Category II
(d) Out of total Loan Assets, 90 per cent is Standard and Sub-standard and Doubtful is 10 per cent this lot comes under Category I
(e) None of the above
Q12. Under which of the following methods of depreciation, amount of depreciation varies every year?
(a) Written Down Value Method
(b) Straight Line Method
(c) Amount of depreciation does not very on year to year basis
(d) All of the above
(e) None of the above
Q13. Usually, the validity period of an Income Tax Refund Order is?
(a) 1 months
(b) 2 months
(c) 3 months
(d) 6 months
(e) None of the above
Q14. What do you mean by “Outcome Budget”?
(a) It denotes reaction of the media after Budget Papers are approved in the Parliament
(b) It aims to measure performance of the Government in various departments
(c) It is a report submitted by the Government of India indicating made in different projects by ministries and departments as a first step towards converting outlays into income
(d) All of the above
(e) None of the above
Q15. What is “Stagflation”?
(a) inflation with growth
(b) deflation with growth
(c) inflation after deflations
(d) inflation with depression
(e) None of the above
Solutions
1.B
2.A
3.D
4.C
5.D
6.D
7.D
8.E
9.D
10.D
11.C
12.A
13.C
14.C
15.C
(a) Pay the original demand draft
(b) Pay the original demand draft as well and recover the amount from the purchaser on the strength of the indemnity bond
(c) Return with remarks “Draft reported lost, duplicate already paid will pay on collecting bank’s guarantee. In case the original draft is again presented, it should be honoured.”
(d) Return with the remarks payment stopped by the payee
(e) None of the above
Q2. The Central Bank in India is ______?
(a) The Reserve Bank of India
(b) The State Bank of India
(c) The Andhra Bank
(d) Central Bank of India
(e) None of the above
Q3. Stock exchange securities do not include?
(a) Debentures certificates
(b) Small debentures issued by port trusts
(c) Government promissory notes
(d) Reverse Repo Rate
(e) None of the above
Q4. The Definition of ‘Banking’ is given in-
(a) Negotiable Instrument Act, 1881
(b) RBI Act, 1934
(c) The Banking Regulation Act, 1949
(d) Contract Act
(e) None of the above
Q5. When was SBI established?
(a) April 1, 1935
(b) July 31, 1969
(c) May 5, 1955
(d) July 1, 1955
(e) None of the above
Q6. All of the following are examples of Quasi negotiable instruments, under the Negotiable Instrument Act, 1881, except.....?
(a) dividend warrants
(b) share warrants
(c) bearer debentures
(d) promissory note
(e) None of the above
Q7. Which of the following is not the essential requirement for the endorsement as per Negotiable Instrument Act, 1881?
(a) It should be on the instrument
(b) It should be made by the holder or the maker
(c) Signatures should be in ink and not by pencil or rubber stamp
(d) It should contain unconditional order
(e) The endorser should sign the endorsement in the same style and with the same spellings as written in the instrument
Q8. With reference to a cheque which of the following is the “drawee bank”?
(a) The bank that collects the cheque
(b) The payee's bank
(c) The endorsee's bank
(d) The endorser's bank
(e) The bank upon which the cheque is drawn
Q9. Which of the following is not a party of bill of exchange?
(a) The drawer
(b) The drawee
(c) The payee
(d) The endorser
(e) None of the above
Q10. In terms of Section 5(1) (5) of the Banking Regulation Act, 1949, a ‘banking company’ means any company which...?
(a) accepts deposits from the public
(b) undertakes lending of money
(c) transacts the business of banking in
(d) All of the above
(e) None of the above
Q11. Under the Corporate Debt Restructuring (CDR) mechanism, loan assets of banks have been categorized. Which one of the following statements is not correct?
(a) Assets belonging to Standard and Sub-Standard category come under category I
(b) Assets belonging to Doubtful category come under category II
(c) Assets belonging to Doubtful and Loss categories come under Category II
(d) Out of total Loan Assets, 90 per cent is Standard and Sub-standard and Doubtful is 10 per cent this lot comes under Category I
(e) None of the above
Q12. Under which of the following methods of depreciation, amount of depreciation varies every year?
(a) Written Down Value Method
(b) Straight Line Method
(c) Amount of depreciation does not very on year to year basis
(d) All of the above
(e) None of the above
Q13. Usually, the validity period of an Income Tax Refund Order is?
(a) 1 months
(b) 2 months
(c) 3 months
(d) 6 months
(e) None of the above
Q14. What do you mean by “Outcome Budget”?
(a) It denotes reaction of the media after Budget Papers are approved in the Parliament
(b) It aims to measure performance of the Government in various departments
(c) It is a report submitted by the Government of India indicating made in different projects by ministries and departments as a first step towards converting outlays into income
(d) All of the above
(e) None of the above
Q15. What is “Stagflation”?
(a) inflation with growth
(b) deflation with growth
(c) inflation after deflations
(d) inflation with depression
(e) None of the above
Solutions
1.B
2.A
3.D
4.C
5.D
6.D
7.D
8.E
9.D
10.D
11.C
12.A
13.C
14.C
15.C
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