McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
Chapters
| 1. |
Which bank have given the instructions to the commercial banks regarding the immediate credit of outstation cheques? |
| A. | Reserve Bank of India |
| B. | Central Bank |
| C. | World Bank |
| D. | All of the above |
| Answer» A. Reserve Bank of India | |
| 2. |
A cheque dated subsequent to the date of its issue is |
| A. | Post dated cheque |
| B. | Blank cheque |
| C. | Crossed cheque |
| D. | Account payee cheque |
| Answer» A. Post dated cheque | |
| 3. |
Dishonour of cheque by a banker without any justifiable reason is called |
| A. | Valid dishonour of cheques |
| B. | Unmindful dishonour of cheques |
| C. | Negligence dishonour of cheques |
| D. | Wrongful dishonour of cheques |
| Answer» D. Wrongful dishonour of cheques | |
| 4. |
The relationship between a banker and customer is............ |
| A. | That of a debtor and creditor |
| B. | That of a creditor and debtor |
| C. | Primarily that of a debtor and a creditor |
| D. | (a) and (b) together |
| Answer» C. Primarily that of a debtor and a creditor | |
| 5. |
In executing the standing instructions, there exists a relationship of...... |
| A. | debtor and creditor |
| B. | Trustee and Beneficiary |
| C. | Bailee and Bailor |
| D. | Agent and Principal |
| Answer» D. Agent and Principal | |
| 6. |
To constitute a person as a customer....... |
| A. | There must be frequency of transactions |
| B. | There must be a dealing of a banking nature |
| C. | There must be some sort of an account |
| D. | There must be a single transactions of any nature |
| Answer» C. There must be some sort of an account | |
| 7. |
The best procedure for opening an account in the name of a minor X and the guardian Y would be under the style............. |
| A. | 'X' Account |
| B. | 'b'-Account- Minor |
| C. | 'y' in trust for X |
| D. | 'y' account |
| Answer» C. 'y' in trust for X | |
| 8. |
The most undesirable customer is....... |
| A. | A minor |
| B. | A married Woman |
| C. | An unregistered firm |
| D. | An undischarged bankrupt |
| Answer» D. An undischarged bankrupt | |
| 9. |
The primary relationship between a banker and customer starts from the time. |
| A. | when customer visits that bank |
| B. | when customer opens account |
| C. | when customer visits that bank to made queries |
| D. | All of the above |
| Answer» B. when customer opens account | |
| 10. |
The primary relationship between banker and customer is a ------------------ relationship. |
| A. | Mutual |
| B. | Contractual |
| C. | Personal |
| D. | None of the above |
| Answer» B. Contractual | |
| 11. |
Which one of the following is the most important relationship between banker and customer. |
| A. | Debtor and Creditor |
| B. | Bailee and Bailor |
| C. | Agency and Principal |
| D. | Trustee and Beneficiary |
| Answer» A. Debtor and Creditor | |
| 12. |
When customer's account overdrawn or when customer has taken loan from banker, then the customer. |
| A. | Creditor |
| B. | Agent |
| C. | Debtor |
| D. | Bailor |
| Answer» C. Debtor | |
| 13. |
When banker received deposits from the customer, then the banker becomes -------------- of the customer. |
| A. | Debtor |
| B. | Creditor |
| C. | Bailee |
| D. | Trustee |
| Answer» C. Bailee | |
| 14. |
It is a ----------------- obligation of a banker to honour the cheques of the customer drawn against current account. |
| A. | Mutual |
| B. | Statutory |
| C. | Unstatutory |
| D. | All of the above |
| Answer» B. Statutory | |
| 15. |
Special damages refers to damages payable by a banker to his customer for the actual ------------- loss suffered by customer. |
| A. | Financial |
| B. | Special |
| C. | Unpecuniary |
| D. | Unfinancial |
| Answer» A. Financial | |
| 16. |
---------- is the right of a person to retain the property of another person in his possession untill the debt from that owner of that property is repaid. |
| A. | Lien |
| B. | Retainment |
| C. | Retrenchment |
| D. | Libel |
| Answer» A. Lien | |
| 17. |
The bank can consider ------------------ lien as their protection against loss on loan or overdraft which was given to its customers. |
| A. | Special |
| B. | Particular |
| C. | General |
| D. | Lending |
| Answer» A. Special | |
| 18. |
The right of set-off customers account can be exercised only by a----- |
| A. | Creditors |
| B. | Debtors |
| C. | Banker |
| D. | Customer |
| Answer» C. Banker | |
| 19. |
The rate of interest charged for the loan by the banker compared to overdraft and cash credit is generally. |
| A. | High |
| B. | Low |
| C. | Same |
| D. | Based on the amount |
| Answer» B. Low | |
| 20. |
The services rendered by a banker as an agent of his customers are called |
| A. | Principal services |
| B. | Agency services |
| C. | General utility services |
| D. | Social services |
| Answer» B. Agency services | |
| 21. |
The written instructions given by the customers to banker to perform the services like collection and payment of money is noted down in |
| A. | Written Instructions Book |
| B. | Standing Instructions Book |
| C. | Banking Instructions Book |
| D. | Services Instructions Book |
| Answer» B. Standing Instructions Book | |
| 22. |
A -------------- is a person who is entrusted with some property by the settler or the author of the trust for the benefit of another person called beneficiary. |
| A. | Attorney |
| B. | Executor |
| C. | Administrator |
| D. | Trustee |
| Answer» D. Trustee | |
| 23. |
Services rendered by a banker not only to his customers, but also to the general public are called as |
| A. | Principal services |
| B. | Agency services |
| C. | General utility services |
| D. | Social services |
| Answer» C. General utility services | |
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