Practice Test

Q1) A company usually opens______ account in a bank. Show Answer

Q2) Bank is a_____ institution. Show Answer

Q3) The appointment of banker is usually made by the_____. Show Answer

Q4) Resolution for opening Bank Account is passed in the______ meeting. Show Answer

Q5) Bank provides overdraft facility to_____ account holder. Show Answer

Q6) Borrowing/Accepting and lending money are considered as_____ functions of bank. Show Answer

Q7) Withdrawals are not permitted from the_____ deposit account. Show Answer

Q8) _____account is suitable to salaried people. Show Answer

Q9) Generally Interest is not paid on______ deposit account. Show Answer

Q10) A deposit which is kept for fixed period in bank is called______ deposit. Show Answer

Q11) Negotiable Instrument which can be discounted with the bank______. Show Answer

Q12) Bank overdraft is a______ term facility provided by bank. Show Answer

Q13) A loan for a period of more than 5 years is called as _____loans. Show Answer

Q14) Purchase and sale of securities is ______ function of Bank. Show Answer

Q15) Joint Stock Company opens Current Account. Show Answer

Q16) Generally no interest is paid by bank on Current Account. Show Answer

Q17) In cash credit, customers account is credited by bank with sanctioned amount. Show Answer

Q18) Board resolution is not required to open the Current Account with the bank. Show Answer

Q19) Bank account of company is operated by shareholder. Show Answer

Q20) Overdraft facility is granted to savings account holders. Show Answer

Q21) Bank correspondence should be brief and to the point. Show Answer

Q22) It is necessary to instruct the bank to stop payment of a cheque which is lost. Show Answer

Q23) Bank overdraft facility is a long term facility. Show Answer

Q24) Banks grant long term loans only. Show Answer

Q25) Letter of credit is issued by banks for domestic trade transactions. Show Answer

Q26) Bill of exchange is negotiable instrument. Show Answer

Q27) Bank act as a trustee, attorney and executor of will. Show Answer

Q28) RTGS is an agency function of Bank. Show Answer

Q29) Bank plays a role of Depository Participant (DP). Show Answer