Banking Quiz – 58

BANKING QUIZ

1. Reserve Bank of India’s functions are classified into:
a) Supervisory & Regulatory
b) Promotional & Developmental
c) Refinance Activities
d) All of the above

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Answer d) All of the above

2. Minimum Bank Rate is:
a) 3%
b) 4%
c) 5%
d) None

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Answer d) None

3. Sec …….. of RBI Act,1934 gives sole power to RBI to issue currency notes
a) 10
b) 18
c) 22
d) 26

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Answer c) 22

4. KYC means
a) Know Your Customer very well
b) Know Your existing Customer very well
c) Know Your prospective Customer very well
d) Satisfy yourselves about the customer’s identity and activities.

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Answer d) Satisfy yourselves about the customer’s identity and activities.

5. In a Garnishee Order, the banker on whom garnishee order served is:
a) Judgement Debtor’s Creditor
b) Judgement Creditor’s Creditor
c) Judgement Creditor’s Debtor
d) Judgement Debtor’s Debtor

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Answer d) Judgement Debtor’s Debtor

6. Sec 131 of NI Act,1881 extends protection to the
a) Paying Banker
b) Collecting Banker
c) Advising Banker
d) Issuing Banker

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Answer b) Collecting Banker

7. Hypothecation is applicable in the case of
a) Movable goods
b) Immovable property
c) Book debts
d) Corporate guarantee

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Answer a) Movable goods

8. Charge created on LIC Policy is:
a) Hypothecation
b) Pledge
c) Assignment
d) Mortgage

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Answer c) Assignment

9. Your bank grants a working capital finance to ABC & Co, a partnership firm, against hypothecation of inventory. The charge is to be registered with Registrar of Companies within

a) 30 days from the date of advance
b) 30 days from the date of hypothecation agreement
c) 30 days from the date of sanction of loan
d) None

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Answer d) None

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