Banking Quiz – 124

Banking Quiz 

1. In terms of the N.I. Act, finder of a lost cheque is?
a) A holder but not holder in due course, if payable to order
b) A holder in due course, if payable to bearer
c) Both holder and holder in due course, in either case
d) None of these

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Answer d) None of these

2. Drawing power in an account means?
a) Limit sanctioned
b) Value of security
c) Value of security minus unpaid stock
d) Value of stock minus unpaid stock minus margin

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Answer d) Value of stock minus unpaid stock minus margin

3. Lien becomes time-barred three years after?
a) the date of loan
b) date of delivery o the relative goods
c) due date of loan
d) lien has no limitation period

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Answer d) lien has no limitation period

4. Section 85(1) of the Negotiable Instrument Act 1881 provides protection to the paying banker in respect of?
a) forged endorsement
b) material alterations on the face of the cheque
c) forgery of drawer’s signature
d) all of these

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Answer a) forged endorsement

5. _____function are the core activities of banking?
a) agency and general utility
b) borrowing and lending
c) accepting deposit and borrow money
d) lending and bill discounting

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Answer b) borrowing and lending

6. Banks have adopted asset-liability management and stress testing as a tool of?
a) profit management
b) risk management
c) opportunity management
d) loss management

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Answer b) risk management

7. E E F C denotes?
a) Exchange Earners Foreign Currency Account
b) Importer’s account with Bank
c) Account maintained by a exporter with RBI
d) None of these

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Answer a) Exchange Earners Foreign Currency Account

8. Arbitrage is?
a) Buying and selling in two markets simultaneously
b) A rate of interest
c) A Feed) Arbitrage is a dispute
e) None of these

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Answer a) Buying and selling in two markets simultaneously

9. The full form of RBS is?
a)Risk Based Supervision
b)Rating by System
c)Role Based Supervision
d)Rating Bank Security

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Answer a)Risk Based Supervision

10. Head quarter of ADB is situated at?
a) New York
b) Chicago
c) Manila
d) Tokyo

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Answer c) Manila

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