Q. A minor can open and operate an account in his own name if he has atleast attained the age of
✅ Correct Answer: (A)
12 years
Banking Services Management (BSM) MCQs and Notes
Q. In case of ………….days of grace are allowed
✅ Correct Answer: (B)
bill of exchange
Q. Merchant banking includes
✅ Correct Answer: (A)
managing issue of shares
Q. When a banker collects a cheque for which he has already given cash,his position is that of a…………
✅ Correct Answer: (D)
holder for value
Q. Pay order is issued by the banks for
✅ Correct Answer: (A)
local payments
Q. A and B have jointly hired a locker under "Either or Survivor" caluse. A dies. The bank should
✅ Correct Answer: (A)
permit b to operate the locker
Q. A customer requests for issue of a bearer demand draft. The banker should
✅ Correct Answer: (C)
refuse to issue the draft
Q. …………..is always drawn on a specified banker.
✅ Correct Answer: (D)
cheque
Q. The drawee banker of a demand draft has received intimation of the loss of the draft from the purchaser. The banker should
✅ Correct Answer: (B)
exercise caution
Q. The recurring deposit account combine the characteristics of ……….and fixed deposit account.
✅ Correct Answer: (A)
savings account