Question # 1

Who does accept the responsibility for repayment debt

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Guarantor

Personal security

Both a and b

None of the these

The loan which can be demanded at any time are called

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Short term loans

Demand loans

Overdraft

All the above

Long term loan period is consisted of:

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Days

Months

Years

All of the above

The word credit has been derived from a latin word.

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Credo

Credere

Creditor

None of these

The types of credit instrument are.

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Four

Two

three

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

Crossing makes the cheque

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Acceptable

Dishonour

Safe

None of these

The cheque which cannot be cashed on the bank counter.

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Bearer cheque

Crossed cheque

Order cheque

Both bearer and order

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

The person in who's favor a cheque is endorsed is called.

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Endorser

Debtor

Endorsee

None of these

Cheque is a credit instrument.

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Partial negotiable

Negotiable

Non negotiable

None of these

Long term is advanced against the following security:

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Non-material

Material

Personal

All of the above

Parties involved in a cheque.

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A/c holder

Bank

Payee

All of these

Why does a bank grant loans to businessmen

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To purchase raw material

To pay wages

To pay development expenditures

All the above

Which things can be accepted by bank as security at the time of granting loan

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Gold and silver

Property

Shares and debentures of company

All the above

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

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