Deck 2: Banking and Finance Terminology

Question 1

----------lender of last resort.

A)Central Bank
B)Scheduled Bank
C)Commercial Bank
D)None of these

Answer 1

Central Bank

Question 2

When customer offers immovable property like land and building as security for a loan, charge thereon is created by means of--------------.

A)Pledge
B)Hypothecation
C)Mortgage
D)None of these

Answer 2

Mortgage

Question 3

The banking Ombudsman scheme was first introduced in-----------.

A)June 1994
B)June 1995
C)September 1998
D)June 2002

Answer 3

June 1995

Question 4

--------------is a quasi judicial authority appointed by the RBI to redress customer complaints against certain deficiency in banking services.

A)Banking Ombudsman
B)Consumer redressal
C)Adjudicating authority
D)None of these

Question 5

To constitute a -----------there must be some recognizable course or habit of dealing in the regular banking business.

A)Banker
B)Customer
C)Creditor
D)Debtor

Question 6

A fixed deposit is meant for those investors who want to deposit a ----------- of money for a fixed deposit.

A)Small amount
B)Interval
C)Lump sum
D)Maturity

Question 7

Banks maintain customer's a/c both for ----------- and -------------.

A)Loan and payment
B)Deposits and loans
C)Loans and interest
D)None of these

Question 8

--------------are running a/c with unlimited operational facilities.

A)Demand deposit a/c
B)Cumulative deposit a/c
C)Savings a/c
D)Time deposit a/c

Question 9

Current a/c are also called-------------.

A)Savings a/c
B)Time deposit a/c
C)Demand deposit a/c
D)Term deposit a/c

Question 10

The minimum period for which a commercial bank can accept term deposit is ----------.

A)8 days
B)7 days
C)30 days
D)15 days

Question 11

Interest on fixed deposit is compounded-------------.

A)Monthly
B)Half yearly
C)Quarterly
D)Yearly basis

Question 12

The minimum investment of recurring deposit varies---------.

A)10000
B)1000
C)100
D)25000

Question 13

----------a/c is opened by NRIs in Indian Banks

A)NRO
B)NRI
C)NRE
D)RFC

Question 14

------------ is an anti money laundering measure specified in the prevention of money laundering act 2002.

A)SAA
B)FCNR
C)KYC
D)NRE

Question 15

A cheque is-------------------.

A)Instrument
B)Negotiable instrument
C)Transferred instrument
D)None of these

Question 16

As per the Act Negotiable instrument means--------

A)Document
B)Transferred instrument
C)Exchange instrument
D)Promissory note

Question 17

Bill of exchange is a------------

A)Printed form
B)Crossing
C)Need not be a printed form
D)Conditional order

Question 18

---------cheque is easily transferred from one person to another by mere delivery

A)Open cheque
B)Bearer cheque
C)Order cheque
D)Stale cheque

Question 19

The payees name is written on the cheque is called-----------.

A)Multivalued cheque
B)Open cheque
C)Crossed cheque
D)Order cheque

Question 20

-----------cheque cannot be transferred from one person to another person by mere delivery.

A)Open cheque
B)Crossed cheque
C)Order cheque
D)Stale cheque

Question 21

A cheque can be crossed by drawing two transverse parallel lines through top left corner of cheque is called -------------.

A)General crossing
B)Special crossing
C)Crossed cheque
D)Post dated cheque

Question 22

If a cheque is torn into two or more pieces and presented for payment is called a-------------

A)Mixed cheque
B)Mutilated cheque
C)Group cheque
D)Anyi-dated cheque

Question 23

Cheque in which the drawer mentions the date earlier to the date of presenting it for payment is called -----------

A)Anti-dated cheque
B)Crossed cheque
C)Post dated cheque
D)None of these

Question 24

If a cheque has bears a date which is yet to come is termed as a

A)Post dated cheque
B)Anti-date cheque
C)Marketting cheque
D)Stale cheque

Question 25

-------------- is a person who became the possessor or payee of a negotiable instrument for a consideration.

A)Holder
B)Electronic cheque
C)Holder in due course
D)Holder of the instrument