SAMPLE PRACTICE 1
1. Up to What period banker's lien can be exercised?
a) 1 years
b) 2 years
c) 5 years
d) None of These
Ans. None of These
2. Bank has to maintain CRR (Cash Reserve Ratio) with RBI based on daily average balance. Average is calculate for which period?
a) Year
b) Month
c) Week
d) None of These
Ans. Month
3. Suit can be filed for foreclosure of mortgage within
a) 30 yrs
b) 20 yrs
c) 10 yrs
d) No defined period
Ans. 30 yrs
4. Within which period, Cheque can be presented u/s 138 of Negotiable Instrument Act
a) During Validity Period
b) Maximum within 6 months from Issue Date
c) Before Stop Payment Request
d) Till Bank Present and Working
Ans. During Validity Period & Maximum within 6 months from Issue Date
5. When customer keeps article for safe custody in bank then what is the relation between them?
a) bailor and bailee
b) bailee and bailor
c) agent and principle
d) beneficiary and trustee
Ans. bailor and bailee
6. Attestation of documents is required for this
a) Hypothecation Agreement
b) Pledge Agreement
c) Mortgage Deed
d) None of these documents require to be attested
Ans. Mortgage Deed
7. The charge which is created on immovable property in favour of bank is
a)Assignment
b) Lien
c) Pledge
d) Mortgage
Ans. Mortgage
8. An irrevocable LC is one
a) That can be cancelled or amended with consent of beneficiary
b) That can be cancelled or amended without consent of beneficiary
c) Both are true
d) None of these
Ans. That can be cancelled or amended with consent of beneficiary
9. An IT hardware company receives materials to assemble and re-export it after assembling. Which guarantee will be issued to this firm
a) Performance Guarantee
b) Financial Guarantee
c) Deferred Payment Guarantee
d) Any of these
Ans. Performance Guarantee
10. Mr X and Mr Y have joint saving account and bank receives garnishee order in the name of Mr X.
a) Garnishee Order applicable to whole amount
b) Garnishee Order is applicable to 50% of the amount
c) Garnishee order is not applicable as account is not having same name
d) None of these
Ans. Garnishee order is not applicable as account is not having same name
SAMPLE PRACTICE 2
1. Which organization has sole authority to issue Currency Note
a) State Bank of India
b) RBI
c) Exim Bank
d) Group of Bank
Ans. RBI
2. Which one is issued by RBI
a) One Rupee Coin
b) One Rupee Note
c) Ten Rupee Coin
d) Two Rupee Note
Ans. Two Rupee Note
3. SARFAESI Act is not applicable to
a) SBI Associates
b) Regional Banks
c) Some Specific Banks are excluded
d) All banks comes under SARFAESI
Ans. Regional Banks
4. Maximum amount that Banking Ombudsman can award as compensation is
a) 50 Lakh
b) 25 Lakh
c) 10 Lakh
d) 5 Lakh
Ans. 10 Lakh
5. If case is not solve through secularization then bank can move to at next level
a) DRT
b) Court
c) Any on from above as per choice
d) None of these
Ans. DRT
6. As per Indian Contract Act (sec 182), An agent is a person employed to do an act for another or to represent another in dealings with third persons. The person for whom such act is done, or who is so represented, is called the principal. The relationship between them is called agency. Which one is correct in case of Minor appointed as agent?
a) Minor cannot be appointed as agent
b) Minor as an Agent is not responsible as Adult
c) Minor can be appointed as agent like adult
d) None of these
Ans. Minor as an Agent is not responsible as Adult
7. Hypothecation is defined in
a) Indian Contract Act
b) NI Act
c) Transfer of Property Act
d) SARFAESI Act
Ans. SARFAESI Act
8. ………… Mortgage is not required to be registered with registrar of Assurance
a) Simple Mortgage
b) Equitable Mortgage
c) Both Above
d) None of these
Ans. Equitable Mortgage
9. What is the maximum amount case involving that can be referred to LOK Adalat
a) 5 Lakh
b) 10 Lakh
c) 20 Lakh
d) 50 Lakh
Ans. 20 Lakh
10. Which one is not a Negotiable Instrument
a) Cheque
b) Demand Draft
c) Bill of Exchange
d) Bank FDR
Ans. Bank FDR
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