Q. The most undesirable customer is.......
✅ Correct Answer: (D)
An undischarged bankrupt
Banking and Finance 3 MCQs and Notes
Q. The best procedure for opening an account in the name of a minor X and the guardian Y would be under the style.............
✅ Correct Answer: (C)
'y' in trust for X
Q. To constitute a person as a customer.......
✅ Correct Answer: (C)
There must be some sort of an account
Q. In executing the standing instructions, there exists a relationship of......
✅ Correct Answer: (D)
Agent and Principal
Q. The relationship between a banker and customer is............
✅ Correct Answer: (C)
Primarily that of a debtor and a creditor
Q. Dishonour of cheque by a banker without any justifiable reason is called
✅ Correct Answer: (D)
Wrongful dishonour of cheques
Q. A cheque dated subsequent to the date of its issue is
✅ Correct Answer: (A)
Post dated cheque
Q. Which bank have given the instructions to the commercial banks regarding the immediate credit of outstation cheques?
✅ Correct Answer: (A)
Reserve Bank of India
Q. If the holder of a bill of exchange allows the drawee more than ___ hours, exclusive of public holidays, to consider whether he will accept the same, all previous parties not consenting to such allowance are thereby discharged from liability to such holder.
✅ Correct Answer: (D)
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Q. Which of the following is/are true about bill of exchange? A) A bill of exchange requires in its inception two parties. B) A bill of exchange or “draft” is a written order by the drawer to the drawee to pay money to the payee. C) Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date. D) Definition of ‘Bill of Exchange’ is mentioned in Section 6 of the Negotiable Instrument Act.
✅ Correct Answer: (C)
(B) and (C)