Banking Law - Questions and Answers for Competitive Exams | GkSeries

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

1. [A] Sans recourse endorsement
2. [B] Special endorsement
3. [C] Blank endorsement
4. [D] Sans frais endorsement

Answer: Option [C]

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

1. [A] 1994
2. [B] 1995
3. [C] 1999
4. [D] 2000

Answer: Option [B]

39. Endorsement signifies that the

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

Answer: Option [D]

40. In which year, SWIFT was established?

1. [A] April 1973July 1973
2. [B] July 1973
3. [C] May 1973
4. [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?

1. [A] Telephone
2. [B] Internet
3. [C] Television
4. [D] All of the above

Answer: Option [B]

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

1. [A] Generic Architecture
2. [B] Core Banking
3. [C] Centralized Fund Management Systems
4. [D] INFINET

Answer: Option [A]

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

1. [A] Electronic Payment System
2. [B] Electronic Clearing Service
3. [C] Electronic Data Interchange
4. [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

1. [A] Internet Banking
2. [B] Telephone Banking
3. [C] Mobile Banking
4. [D] Modern Banking

Answer: Option [A]

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

1. [A] Professional
2. [B] Salaried
3. [C] Retired
4. [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

1. [A] Four
2. [B] Five
3. [C] Three
4. [D] Seven

Answer: Option [A]

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

1. [A] Passboook update facility
2. [B] Cash withdrawal
3. [C] Mini-statement facility
4. [D] Funds transfer facility

Answer: Option [B]

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

1. [A] Banker
2. [B] Customer
3. [C] Merchant
4. [D] Shopping mall

Answer: Option [B]