Quiz-4

Quiz-4

1.Sec ___ of B R Act, banks are required to seek approval from RBI before opening branches

 a) 21

b) 22

c) 23

d) 24

e) 35

2.As per the provisions of Sec____ of _____ Act, banks are required to maintain SLR

a) 42, BR Act

b) 24, RBI Act

c) 24, BR Act

d) 42, RBI Act

e) None of the above

3.Selective Credit Control is exercised by RBI under the provisions of Sec____ of B R Act

a) 21

b) 26

c) 35

d) 42

e) None 

4.The customer has a right to ask the bank to return the paid instruments before the expiry period of preservation. This is under

a) Section 13 of B R Act

b) Section 45Z of B R Act

c) Sec 34 of B R Act

d) Sec 12 of B R Act

e) None of these

5.In terms of Section 12 of Banking Regulation Act 1949, the minimum ratio between Authorised, Subscribed and Paid up Capital of a banking company should be

a) 2:2:1

b) 1 :1:1

c) 4:2:1

d) 3:2:1

e) None 

6.Mr.X & Mrs.Y W/o Mr.X are having a joint locker, for which they have nominated their son Mr.H. Mr.X has dies. Now

a) Mrs.Y can operate the locker

b) Mrs.Y can operate the locker along with Mr.H

c) Mrs.Y can operate the locker along with all legal heirs

d) The locker should be surrendered in front of two witnesses to Mrs.Y and Mr.H

e) None of the above

7.Your branch is having a saving bank account of a trust, for which Mr.Krishnan and Mr. Vasudevan are the trustees. In an accident, both of them expired. What the bank should do now?

a) The beneficiaries can operate the account themselves as both the trustees died

b) The beneficiaries have to choose two more trustees and submit the resolution to the bank

c) The amount will be divided among the beneficiaries and account will be closed

d) The beneficiaries will be advised to approach the Court for appointment of new trustee 

e) None of these

8.Relationship between bank and customer where the customer has deposited the amount without giving full particulars and amount has been placed by the bank in a sundry account will be:

a) Creditor and debtor

b) Beneficiary and trustee

c) Debtor and creditor

d) Trustee and beneficiary

e) None of these

9.Your branch is having a Savings Bank account in the name of Mr.Lalit and Mr.Sumit with mode of operation as ‘E or S’. Mr.Lalit has become adjudged insolvent. A cheque signed by Mr.Sumit was presented in clearing. In this situation...

a) Cheque will be paid as it is signed by Mr.Sumit as he is not the insolvent

b) Cheque can be passed as it is having ‘E or S’ option

c) Cheque should be returned with the remark ‘Joint Account Holder declared insolvent’.

d) Instruction from official assignee shall be obtained

e) None of these

10.M/s. Motherland & Co, a partnership firm is maintaining a current account with your branch. The mode of operation was ‘Any of the partner’. A cheque which was signed by Mr.Shyam, one of the partners, in favour of M/s. Arvind & Co, was countermanded by himself. Later, Mr.Shyam, came and submitted a letter to the bank that by oversight, he has countermanded a wrong cheque and request you to revoke the instruction. You can...

a) Accept if the revocation letter is signed by all the partners

b) Accept even if the revocation letter is signed only by Mr.Shyam

c) Once countermanded, it cannot be revoked

d) Accept if at least two partners are signing the letter

e) None of these

Ans:

1	2	3	4	5	6	7	8	9	10
c	c	a	b	c	a	d	d	c	b