Institute of Banking Personnel Selection : Article

  • 2016-07-14

1) The payment of a lost demand draft is made to the ---------?

(1) Purchaser           (2) Payee

(3) Nominee            (4) Any of the above-a,b,c

2) A banker should not grant loans and advances against?

(1) Unquoted shares  (2) Partly Paid-up shares

(3) Its own shares    (4) Third party’s shares

(5) None of the above

3) In the case of granting loan against a life Insurance policy, the banker should see ------?

(1) The existence of insurable interest

(2) The surrender value

(3) The admission of age

(4) All of the above

(5) None of the above

4) The most risky document of title to goods from the banker’s point of view is ----?

(1) Delivery Challan or order

(2) Bill of lading

(3) Warehouse’s certificate

(4) Railway Receipt

(5) None of the above

5) While granting Loan or Overdraft, a legal title over shares is created ---------?

(1) By simply depositing the shares

(2) By depositing the shares along with a blank transfer

(3) By depositing shares along with a memorandum

(4) By executing a transfer deed

(5) All of the above

6) The rules framed in the Clayton’s case have been incorporated in --------?

(1) The banking Regulation Act

(2) The Reserve Bank of India Act

(3) The Indian Contract Act

(4) The negotiable instruments Act

(5) None of the above

7) When a debtor owes several debts to a banker and makes a payment, the right of appropriation lies with ------?

(1) The Banker         (2) The Debtor

(3) The Court           (4) None of the above

(5) All of the above-a, b and c

8) A Garnishee order is served on A and B jointly. They maintain a joint account as well as individuals accounts with the bank. The order shall attach ----------?

(1) Only the joint account of A and B

(2) Only the individual accounts of A and B

(3) Joint and individual accounts of A and B

(4) As per the Court Orders

(5) None of the above

9) In terms of Section 31 of the Reserve Bank of India Act, 1934, a demand draft payable to bearer may be issued only by ------?

(1) Nationalized Banks

(2) Scheduled Commercial Banks

(3) Reserve Bank of India

(4) Foreign Banks

(5) None of the above

10) In case of original demand draft is presented after the duplicate has already been paid, the bank will --------?

(1) Pay the original demand draft

(2) Pay the original demand draft as well and recover the amount from the purchaser on the strength of the indemnity bond

(3) Return with remarks “Draft reported lost, duplicate already paid will pay on collecting bank’s guarantee. In case the original draft is again presented, it should be honoured.”

(4) Return with the remarks payment stopped by the payee

(5) None of the above