MCQS on Banking and Insurance (Part-4)

 61) Demand deposits are those which can be withdrawn ------------------ 

a) On demand 

b) At any future date 

c) After one year 

d) After 5 years 

62) Current deposits are not entitled to-------------------. 

a) Cheque book 

b) Statements 

c) Customer services 

d) Interest 

63) Introduction in all deposits account is ----------------. 

a) Optional 

b) Compulsory 

c) Discretion of the bank 

d) None of these 

64) Sec 138 state that drawer of a cheque is liable to be punished if the cheque is bounded for-----------. 

a) Not crossing 

b) Alteration in figures 

c) Being post dated 

d) Insufficient fund 

65) When a drawer draws a cheque without keeping sufficient balance and if the cheque is dishonored for insufficient funds, the drawer is punishable with and imprisonment which may extend to -------- and or a fine. 

a) 2 months 

b) 4 months 

c) 1 year 

d) 2 year 

66) Where the signature of the drawer of a cheque is not genuine such a cheque is called -------------- 

a) Post dated cheque 

b) Forged cheque 

c) Clearing cheque 

d) Stale cheque 

67) A banker on whom a cheque is drawn by the customer is-----------------------. 

a) Collecting banker 

b) Paying banker 

c) Advising banker 

d) Confirming banker 

68) A banker who collects a cheque for and on behalf of his customer is-----------------. 

a) Collecting banker 

b) Paying banker 

c) Advising banker 

d) Confirming banker 

69) When a banker makes payment of a cheque after making hour he will be held ---------. 

a) Liable 

b) Reasonable 

c) Acceptable 

d) None of these 

70) One of the conditions to honour the cheque by the paying banker is that amount in figures and words should---------. 

a) Differ 

b) Tally 

c) Be clear 

d) Not be clear 

71) Where a customer by a letter has advised the bank directing the banker not to honour/pay a particular cheque such a letter is called 

a) A letter of authority 

b) Letter of credit 

c) Stop payment letter 

d) Letter of credit 

72) Where a customer has issued a cheque date of which is yet to come such a cheque is called ---------. a) Stale cheque 

b) Post dated cheque 

c) Crossed cheque 

d) Stolen cheque 

73) Promissory notes, bills of exchange and cheque are together defined as--------------. 

a) Negotiable instrument 

b) Transferred instrument 

c) Trust receipts 

d) Documents of title to goods 

74) N1 are easily ----------. 

a) Transferrable 

b) Gifted 

c) Sold 

d) None of these 

75) A cheque is drawn on a -----------------. 

a) Owner of a ship 

b) An agent of a principal 

c) Bank 

d) Any person 

76) A cheque is payable on----------------- 

a) Demand 

b) After certain date 

c) On a fixed future date 

d) None of these 

77) Two parallel transfers lines across the cheque is called --------------. 

a) Endorsement 

b) Transfer 

c) Assignment 

d) Crossing 

78) Crossing is a direction to the---------------bank to pay the cheque to the payee through a bank. 

a) Drawer 

b) Payee 

c) Paying 

d) collecting 

79) When a cheque is drawn on a bank, the banker is called the___________ 

a) Drawer 

 b) Endorser 

c) Acceptor 

d) Drawee 

80) The crossing ina crossed cheque can be cancelled by-------------------------- 

a) Drawer 

b) Endorser 

c) Acceptor 

d) Drawee