MOCK TEST : Banking & Finance Questions on principles and practices

MOCK TEST : Banking & Finance Questions on principles and practices

Here is the fourth setA 56. X is appointed executor for the account of A. the account in the name of Executor for (or Administrator) will be opened...

Here is the fourth setA

ca gv rao56. X is appointed executor for the account of A. the account in the name of Executor for (or Administrator) will be opened as a. A's account b. X's account c. X executor to the estate of A deceased d. For A deceased : X executor

57. ABC Limited, a company has gone in liquidation and Mr. X is appointed as Liquidator. He has opened a bank account. He sends a letter to the bank that he has to go abroad for 2 months and in his absence the account will be operated by his Secretary a. Bank will not accept such request b. Bank will ask for specimen signatures of Secretary and allow the operations c. Being special circumstances, the account will be allowed to be operated by taking usual safeguards d. None of the above

58. To wind up the affairs of a company, the person appointed by the Court is called a. Executor b. Liquidator c. Administrator d. Assignee

59. A foreign spouse of an Indian citizen is called a. Foreign national b. Non-resident Indian c. Resident Indian d. Person of Indian Origin

60. An NRE account can be opened as a. Current, saving, RD only b. Saving, RD and FD only c. Saving, current, RD and FD only d. FD and saving only

61. In which of the following , joint accounts with residents can be opened by Non-Resident Indians a. FCNR (B) b. NRE c. NRO d. NRNR

62. For which of the following reasons, a bank can close the account of a customer a. Where the customer regularly draws cheques without sufficient balance in the account b. Where the customer issues the cheques and frequently stops payment of such cheques c. Where the customer acts in a manner detrimental to the interest of the bank d. All the above

63. B was having an account with Universal Bank. Bank got confirmation from B for the balance in the account. Later on B brought to bank's notice, a fact that two forged cheques have been debited to the account. Bank however claimed that the customer has already confirmed the balance. a. Bank is not liable as the customer has already confirmed the balance b. Though customer is right but after confirming the balance he cannot get the entry reserved c. Bank is liable for the forged cheque and it has to reserve the entry d. Bank and the customer have to share the loss on pro-rata basis

64. Y, a customer of Bank-B used to handover cheques in his favour, for deposit in his account, to an employee of the bank, who withdraw the money of the cheque, from the drawer's account maintained with that bank and misappropriated. When the fact come to notice of Y, he asked the bank to make good the loss, as the employee was on rolls of the bank. Bank refused to compensate Y. a. Y has a right to proceed against the bank b. Y has the right to proceed against the bank and also individually against the employee c. Bank is not liable, since for handing over the cheques to bank employee, the bank had never authorized the employee d. Bank is not liable for the actions of its employee, even when these are during the banking hours and on behalf of the bank

65. For the purpose of carrying on off-site supervision, RBI calls for important returns called���� a. Basic statistical returns (BSR) b. XOS returns c. R return d. DSB return

66. u/s 38A B R Act when High Court orders liquidation of a bank, which among the following can be a liquidator a. RBI, SBI or any other bank notified by the Central Govt. b. RBI or court appointed liquidator only c. RBI, SBI or any public sector bank d. Banks cannot be appointed liquidator only

67. X, s customer of Popular Bank had deposited an amount of Rs 12,500 in his saving bank account which was created by the bank in the account of Mr Y The relationship between the bank and Y is a. Trustee-beneficiary b. Debtor-creditor c. Creditor � debtor d. Beneficiary � trustee

68. An order cheque of Rs 55,000 is issued by Mr. X in his account favouring M (a minor), who approaches the bank for cash payment a. Cheque being in favour of a minor cannot be paid b. Cheque shall be paid like in other cases c. Cheque will be paid if the minor is accompanied by his guardian d. Cheque shall be paid, if the guardian provides guarantee for the payment

69. X issued a cheque of Rs 32,000 payable to B or order. The cheque is misplaced and found by C. C forges B's signature and endorses in favour of D, who presents the cheque for payment from the bank, but it is dishonoured a. D can recover the amount from X, B and C b. D can recover the amount from X and B only c. D can recover the amount from C only d. D cannot recover the amount from any one

70. Mr Z gets a demand draft issued from the bank in favour of his son, S, who is to visit another town in connection with some business purchases. He requests the bank to substitute the word 'order' by bearer in the DD so that his son does not face any difficult in the new town a. Bank cannot do so as it will be violation of section 31 of NI Act b. Bank can do so, if Z is a dependable customer c. Bank can cannot do so, but it can attest the signature of S on a separate slip of paper, which he can use for identification purpose d. Bank will not look into the issue as problem is of Z and not of bank

Show Full Article
Print Article
Subscribed Failed...
Subscribed Successfully...
Next Story
More Stories