Banking Law - Questions and Answers for Competitive Exams | GkSeries

37. An order cheque can be converted into a bearer cheque by means of

• [A] Sans recourse endorsement
• [B] Special endorsement
• [C] Blank endorsement
• [D] Sans frais endorsement

Answer: Option [C]

38. In which year, Electronic Fund Transfer (EFT) was launched in India?

• [A] 1994
• [B] 1995
• [C] 1999
• [D] 2000

Answer: Option [B]

39. Endorsement signifies that the

• [A] Endorser has a good title
• [B] Endroser's signature is genuine
• [C] Previous endorsements are genuine
• [D] All of the above

Answer: Option [D]

40. In which year, SWIFT was established?

• [A] April 1973July 1973
• [B] July 1973
• [C] May 1973
• [D] August 1973

Answer: Option [C]

41. To done banking through WAP (Wireless Application Protocol) enabled mobile phone, customer should get which type of connection?

• [A] Telephone
• [B] Internet
• [C] Television
• [D] All of the above

Answer: Option [B]

42. _____________ has been introduced for the purpose of networking of banks

• [A] Generic Architecture
• [B] Core Banking
• [C] Centralized Fund Management Systems
• [D] INFINET

Answer: Option [A]

43. ____________ credit refers to a series of electronic payment instructions that are generated to replace proper instruments

• [A] Electronic Payment System
• [B] Electronic Clearing Service
• [C] Electronic Data Interchange
• [D] None of the above

Answer: Option [B]

44. Banking transaction that takes placed in a virtual ambience on the website of a banking company is termed as

• [A] Internet Banking
• [B] Telephone Banking
• [C] Mobile Banking
• [D] Modern Banking

Answer: Option [A]

45. Telephone Banking has found a high level of acceptability especially among ___________ level of people

• [A] Professional
• [B] Salaried
• [C] Retired
• [D] Business

Answer: Option [A]

46. The ATM pin is ______________ digit code number used for authenticiating and authroizing the use of the ATM facility by a custome

• [A] Four
• [B] Five
• [C] Three
• [D] Seven

Answer: Option [A]

47. What is the major function performed by the ATM's worldwide

• [A] Passboook update facility
• [B] Cash withdrawal
• [C] Mini-statement facility
• [D] Funds transfer facility

Answer: Option [B]

48. __________ constitutes the foremost element of an electronic payment system

• [A] Banker
• [B] Customer
• [C] Merchant
• [D] Shopping mall

Answer: Option [B]