Question # 1

Security is a powerful tool that ensure the repayment of:

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Deposit

Debt

Interest

None of the above

The word credit has been derived from a latin word.

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Credo

Credere

Creditor

None of these

Bank should advance loans to those people who are strong

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Financially

Domestically

Politically

All the above

Parties involved in a cheque.

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A/c holder

Bank

Payee

All of these

The numebr of parties in a cheque are.

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Two

Five

Four

Three

What is called a good security

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Whose price can be determined easily

Which does not have any government restriction

Whose ownership is totally clear

All the above

Cheque consists of future date is called.

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Out date

Post dated

Anti dated

None of these

On which of the following amount of overcraft, bank receives interest:

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Fix

Total

Used

All of the above

In case of mortage, the property remains in the possession of:

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Lender (creditors)

Borrower (debtors)

The government

All of the above

Who does accept the responsibility for repayment debt

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Guarantor

Personal security

Both a and b

None of the these

Account payee only in the transverse parallel line.

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Bearer cheque

Special crossing

General crossing

None of these

The goods or items accepted as security for advancing loan should not be:

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Durable

Insured

Under burden

Liquid

Cheque is a credit instrument.

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Partial negotiable

Negotiable

Non negotiable

None of these

Bank prefers to advance loan on such documents

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Which are easy to keep

Which are transferable

Whose price can be determined easily

All the above

Negotiable instruments are defined by Act.

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1881

1857

1694

1935

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Principles of Banking Icom Part 2 English Medium Chapter 8 Online Test MCQs With Answers

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