McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
| 1. |
Indian banks were nationalised in the year |
| A. | 1949 |
| B. | 1969 |
| C. | 1959 |
| D. | 1979 |
| Answer» B. 1969 | |
| 2. |
Bankers are not only purveyors of money but also an important sense they are |
| A. | consumers |
| B. | manufacturers |
| C. | lenders |
| D. | borrowers |
| Answer» B. manufacturers | |
| 3. |
Primary functions of a commercial banks are ........... and lending |
| A. | honouring cheques |
| B. | accepting deposits |
| C. | issuing cheques |
| D. | issuing dd |
| Answer» B. accepting deposits | |
| 4. |
The total number of public sector banks in India is |
| A. | 14 |
| B. | 12 |
| C. | 28 |
| D. | 22 |
| Answer» C. 28 | |
| 5. |
Indian Institute of Bankers is registered as............. |
| A. | trustee |
| B. | association |
| C. | joint stock company |
| D. | co-op society |
| Answer» C. joint stock company | |
| 6. |
The head quarters of National Housing Bank is |
| A. | new delhi |
| B. | mumbai |
| C. | agra |
| D. | hyderabad |
| Answer» B. mumbai | |
| 7. |
The Head quarters of Allahabad Bank is |
| A. | allahabad |
| B. | mumbai |
| C. | calcutta |
| D. | delhi |
| Answer» C. calcutta | |
| 8. |
The ‘Teller System’ has been introduced by banks to......... |
| A. | canvas more customers |
| B. | make quick payment of cheque |
| C. | clarify enquiries |
| D. | advice customers |
| Answer» B. make quick payment of cheque | |
| 9. |
Money at call and short notice of a bank is ............ |
| A. | secured advance |
| B. | bankers second line of advance |
| C. | widely distributed loans |
| D. | all the above |
| Answer» B. bankers second line of advance | |
| 10. |
The terms drawer, drawee and payee are associated with; |
| A. | cheques |
| B. | promissory notes |
| C. | delivery order |
| D. | hundies |
| Answer» A. cheques | |
| 11. |
Where the RBI has no branch the bank which can act as its agent is; |
| A. | any commercial bank |
| B. | any nationalised bank |
| C. | sbi |
| D. | indian bank |
| Answer» C. sbi | |
| 12. |
Unless otherwise specified DD or cheques is valid for a period of; |
| A. | 6 months |
| B. | 1 year |
| C. | 3 months |
| D. | one month |
| Answer» C. 3 months | |
| 13. |
RBI was nationalised in the year |
| A. | 1941 |
| B. | 1949 |
| C. | 1943 |
| D. | 1935 |
| Answer» B. 1949 | |
| 14. |
The drawee of a cheque is always.......... |
| A. | customer |
| B. | minor |
| C. | company |
| D. | bank |
| Answer» D. bank | |
| 15. |
Commercial banks in India was organised as....... |
| A. | sole proprietorship |
| B. | joint stock company |
| C. | partnership |
| D. | joint sector |
| Answer» B. joint stock company | |
| 16. |
In India ............. banks are nationalised in the year 1969 |
| A. | 16 |
| B. | 19 |
| C. | 14 |
| D. | 22 |
| Answer» C. 14 | |
| 17. |
Second nationalisation of commercial banks (6 banks)was in the year |
| A. | 1979 |
| B. | 1980 |
| C. | 1984 |
| D. | 1976 |
| Answer» B. 1980 | |
| 18. |
Cooperative banks are registered under............. |
| A. | rbi act |
| B. | banking regulation act |
| C. | co-operative societies act |
| D. | any of the above |
| Answer» C. co-operative societies act | |
| 19. |
The first Regional Rural Bank came into existence on |
| A. | 1972 |
| B. | 1964 |
| C. | 1975 |
| D. | 1977 |
| Answer» C. 1975 | |
| 20. |
The largest public sector bank in India is |
| A. | rbi |
| B. | sbi |
| C. | canara bank |
| D. | indian overseas bank |
| Answer» B. sbi | |
| 21. |
RRB Act was enacted in the year |
| A. | 1974 |
| B. | 1979 |
| C. | 1975 |
| D. | 1976 |
| Answer» C. 1975 | |
| 22. |
............. is the apex institution for rural development and rural credit |
| A. | rbi |
| B. | idbi |
| C. | nabard |
| D. | irbi |
| Answer» D. irbi | |
| 23. |
RBI was established in the year |
| A. | 1949 |
| B. | 1935 |
| C. | 1964 |
| D. | 1947 |
| Answer» B. 1935 | |
| 24. |
Medium term loans are meant for a period |
| A. | 3-5 years |
| B. | 5-10 years |
| C. | over 10 years |
| D. | 1-3 years |
| Answer» A. 3-5 years | |
| 25. |
Possession of a security practically with the banker is in the case of |
| A. | mortgage |
| B. | pledge |
| C. | hypothecation |
| D. | hire purchase |
| Answer» B. pledge | |
| 26. |
Maximum number of withdrawals permitted per half year weather by cheque or otherwise in saving bank account |
| A. | 100 |
| B. | 200 |
| C. | 50 |
| D. | no limit |
| Answer» C. 50 | |
| 27. |
The banker’s obligation to pay his customers cheque is a duty towards............ |
| A. | the drawee |
| B. | the drawer |
| C. | the holder |
| D. | the payee |
| Answer» B. the drawer | |
| 28. |
Collateral security means |
| A. | advance against supply bills |
| B. | share and debentures |
| C. | goods pledged to the bank |
| D. | additional security |
| Answer» D. additional security | |
| 29. |
RBI issues currency notes on the basis of............ |
| A. | minimum reserve |
| B. | general reserve |
| C. | proportional reserve |
| D. | gold reserve |
| Answer» A. minimum reserve | |
| 30. |
The term “Reserve” in Reserve bank of India indicates |
| A. | reserved for govt. business alone |
| B. | it keeps reserves of all commercial banks |
| C. | no special significance |
| D. | it keeps foreign currency |
| Answer» B. it keeps reserves of all commercial banks | |
| 31. |
SBI was established in the year |
| A. | 1954 |
| B. | 1956 |
| C. | 1955 |
| D. | 1964 |
| Answer» C. 1955 | |
| 32. |
For opening new branch of a bank should obtain the sanction of.......... |
| A. | central government |
| B. | state government |
| C. | rbi |
| D. | all the above |
| Answer» C. rbi | |
| 33. |
Negotiable Instrument Act was passed in the year |
| A. | 1856 |
| B. | 1875 |
| C. | 1881 |
| D. | 1882 |
| Answer» C. 1881 | |
| 34. |
NABARD is administered by |
| A. | rbi |
| B. | sbi |
| C. | board of directors |
| D. | central govt. |
| Answer» C. board of directors | |
| 35. |
A depositor can withdraw money from the bank any number of time in............. |
| A. | fixed deposit |
| B. | savings bank |
| C. | current a/c |
| D. | recurring deposit |
| Answer» C. current a/c | |
| 36. |
A cheque is deemed stale after |
| A. | one month |
| B. | 3 months |
| C. | 6 months |
| D. | one year |
| Answer» B. 3 months | |
| 37. |
Bank rate policy is aimed at |
| A. | development of banks |
| B. | helping loan takers |
| C. | stabilising internal price level |
| D. | none of these. |
| Answer» C. stabilising internal price level | |
| 38. |
Bank of England was established in the year |
| A. | 1586 |
| B. | 1612 |
| C. | 1694 |
| D. | 1656 |
| Answer» C. 1694 | |
| 39. |
Garnishee order is to restrain a banker from |
| A. | receiving deposit |
| B. | making payment |
| C. | accepting bills |
| D. | crossing of cheques |
| Answer» B. making payment | |
| 40. |
A banker need not bother too much to open an account in the name of a person when receiving......... |
| A. | term deposit |
| B. | demand deposit |
| C. | saving deposit |
| D. | call deposit |
| Answer» A. term deposit | |
| 41. |
Primary relationship between banker and customer is that of |
| A. | dealer and customer |
| B. | principal and agent |
| C. | debtor and creditor |
| D. | vender and buyer |
| Answer» C. debtor and creditor | |
| 42. |
Bankers lien is a general lien and is |
| A. | a special type of mortgage |
| B. | an implied pledge |
| C. | a pledged transaction |
| D. | hypothecation transaction |
| Answer» B. an implied pledge | |
| 43. |
Which country is popular for branch banking |
| A. | britain |
| B. | china |
| C. | india |
| D. | japan |
| Answer» A. britain | |
| 44. |
Whose signature is affixed on currency notes |
| A. | president |
| B. | prime minister |
| C. | rbi governor |
| D. | finance minister |
| Answer» C. rbi governor | |
| 45. |
A post dated cheque is one which bears; |
| A. | a date which is not more than 6 months |
| B. | future date |
| C. | an impossible date |
| D. | back date |
| Answer» B. future date | |
| 46. |
A banker has the right to disclose the account position of a customer to........... |
| A. | intimate friend |
| B. | customers wife |
| C. | trade reference |
| D. | customers relatives |
| Answer» C. trade reference | |
| 47. |
An account usually maintained by businessmen in a bank is |
| A. | current account |
| B. | saving bank account |
| C. | recurring deposit account |
| D. | none of these |
| Answer» A. current account | |
| 48. |
The system of banking attracting deposits and lending for short period is called |
| A. | mixed banking |
| B. | deposit banking |
| C. | credit system |
| D. | lending system |
| Answer» B. deposit banking | |
| 49. |
When a loan is advanced on the basis of immovable property, it is called |
| A. | pledge |
| B. | hypothecation |
| C. | mortgage |
| D. | lien |
| Answer» C. mortgage | |
| 50. |
When a loan is advanced on the basis of movable property, it is called |
| A. | pledge |
| B. | hypothecation |
| C. | mortgage |
| D. | lien |
| Answer» B. hypothecation | |
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