1- An institution which purchases and sells money and transacts other financial- business of like nature is called:
A). College
B). Bank✔️
C). Hospital
D). Manufacturing
2- Bank borrow money in the shape of deposits and lends it in various ways: it consider its:
A). Primary function✔️
B). General utility function
C). Agency functions
D). Secondary function
3- A bank performs contain functions for the benefit of general public which are called us:
A). Primary functions
B). General utility functions✔️
C).Agency functions
D).Secondary function
4- When banks act as agents of their customers and tender great service in that capacity these are:
A). Primary functions
B). General utility functions
C).Agency functions✔️
D).Secondary function
5- To keep valuable things and papers in safe custody, is the example of bank’s:
A).Primary functions
B). General utility function✔️
C).Agency functions
D).Secondary function
6- To realize interest and dividend on behalf of their customers is the example of banks:
A).Primary functions
B). General utility function
C).Agency function✔️
D).Secondary function
7- To finance the import and export trade of a country is the example of banks:
A).Primary function
B).Agency function
C). General utility function✔️
D).Secondary function
8- Issue of various important documents is the example of banks:
A).Primary functions
B). General utility function✔️
C).Agency functions
D).Secondary function
9- A commercial bank receives money on:
A). Two accounts
B). Three accounts✔️
C). Four accounts
D). Five accounts
10-The customer is allowed to deposit or withdraw money as and when he likes, in” case of:
A). Current account
B). Saving bank account✔️
C). Fixed deposit account
D). None of the above
11- In case, deposits can be made only up to a certain amount and withdrawals are allowed only twice or thrice a week, not exceeding a certain amount, is:
A). Current account
B). Saving bank account✔️
C). Fixed deposit account
D). None of the above
12- When a certain amount is deposited for a fixed period such as six months, one year or longer, such type of account is:
A). Current account
B). Saving bank account
C). Fixed deposit account✔️
D). None of the above
13- When a customer is authorized to borrow up to an agreed amount in excess of the customers bank balance, if will be called:
A). Bank overdraft✔️
B). Bank under draft
C). Bank balance
D). None of the above
14- When a commercial bank advances a fixed sum for a definite period of time, it will called:
A). Overdraft
B). Loans✔️
C). Under draft
D). None of the above
15- Which of the following should be filled up. When money is to be deposited in the:
A). Draft
B). Cheque
C). Pay- in- slip✔️
D). Pay order
16- A customer can withdrawal from his account or make payment to various parties ” by issue of:
A). Pay-in-slips
B). Cheques✔️
C). Overdrafts
D). None of the above
17-In the books of the bank , whenever an account is opened the customer is finished with a:
A). Bank- pass Book✔️
B). Cheque Book
C). Pay-in-slip Book
D). None of the above
18- When two parallel lines are drawn across the face of a cheque, it is said to be:
A). A bearer cheque
B). An order cheque
C). A crossed cheque✔️
D). None of the above
19- When the cheque is paid by the draw bank, it is said to be:
A). Honoured
B). Dishonored
C). Endorsed✔️
D). None of the above
20- When the cheque is not paid by the drawee bank, it is said to be:
A). Honoured
B). Dishonoured
C). Endorsed
D). None of the above✔️
21- The act of singing on the back of the cheque in order to transfer it to someone else is called:
A). Crossing
B). Endorsement✔️
C). Drafting
D). None of the above
22- Commercial banks give the’ facility of remittance or money from one place to another, through:
A). Cheques
B). Overdrafts
C). Bank drafts✔️
D). None of the above
23- Hundi is exactly like a:
A). Bank Draft✔️
B). Cheque
C). Pay in slip
D). None of the above
24- The method of payment by bill of exchange depend on:
A). Cash basis
B). Credit basis✔️
C). Reserve basis
D). None of the above
25- Bill receivable book is a part of the:
A). Journal✔️
B). Ledger
C). Profit and Loss Account
D). Balance sheet
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