Banking Law - Questions and Answers for Competitive Exams | GkSeries

Questions
13. The rate of interest charged for the loan by the banker compared to overdraft and cash credit is generally
  1. [A] High
  2. [B] Low
  3. [C] Same
  4. [D] Based on the amount

Answer: Option [B]

14. The main aim of a banker for performing the subsidiary services is to earn a ------------ of the customers
  1. [A] Money
  2. [B] Documents
  3. [C] Valuables
  4. [D] Goodwill

Answer: Option [D]

15. The written instructions given by the customers to banker to perform the services like collection and payment of money is noted down in
  1. [A] Written Instructions Book
  2. [B] Standing Instructions Book
  3. [C] Banking Instructions Book
  4. [D] Services Instructions Book

Answer: Option [B]

16. Services rendered by a banker not only to his customers, but also to the general public are called as
  1. [A] Principal services
  2. [B] Agency services
  3. [C] General utility services
  4. [D] Social services

Answer: Option [C]

17. In Negotiable Instruments Act 1881, which section defines promissory note?
  1. [A] Section 1
  2. [B] Section s
  3. [C] Section 3
  4. [D] Section 4

Answer: Option [D]

18. A cheque dated subsequent to the date of its issue is
  1. [A] Post dated cheque
  2. [B] Blank cheque
  3. [C] Crossed cheque
  4. [D] Account payee cheque

Answer: Option [A]

19. A drawer in the bill of exchange can also be a
  1. [A] Paymaster
  2. [B] Payee
  3. [C] Banker
  4. [D] Creditor

Answer: Option [B]

20. The lien is defined in
  1. [A] the Sale of Goods Act
  2. [B] the Transfer of property Act
  3. [C] the Indian Contract Act
  4. [D] the Companies Act

Answer: Option [A]

21. Who is primarily liable on a promissory note?
  1. [A] Holder
  2. [B] Maker
  3. [C] Drawee
  4. [D] Endorser

Answer: Option [B]

22. . ------------ is a dead cheque
  1. [A] Post dated cheque
  2. [B] Stale cheque
  3. [C] Ante dated cheque
  4. [D] Pre dated cheque

Answer: Option [B]

23. Discounting of bills of exchange is
  1. [A] Clean advance
  2. [B] Secured advance
  3. [C] Neither clean advance nor secured advance
  4. [D] Unsecured advance

Answer: Option [C]

24. Expand NEFT
  1. [A] National Electronic Fund Transfer
  2. [B] Neutral Electronic Fund Transfer
  3. [C] Neutral Electronic Fund Transfer
  4. [D] Neutral Electronic Fund Transfer

Answer: Option [A]

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