12th class Principle of Banking chapter 4 online mcq test with answers for ICom part 2 Principle of Banking Chapter 4 (Central Bank)

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Sr.#	Question	Answer
1	The central bank works under the rules framed by:	A. Government B. People C. Different banks D. All of the above
2	Participation term certificate are issued by.	A. Sole trader ship B. Firm C. Joint Stock Co. D. Co-operative society
3	In case of inflation in the country, the rate of margin is:	A. Increased B. Reduced C. Waived D. All of the above
4	Non -Scheduled banks are formed under.	A. Sole trader ship B. Firm C. Joint Stock Co. D. Co-operative society Act
5	Under which Section Scheduled Bank can open new branch.	A. Section 38 B. Section 39 C. Section 40 D. Section 41
6	Which principle is followed by central bank to issue currency notes	A. Currency principle B. Banking principle C. Both principle D. None of the above
7	Central Bank provide the facility to Scheduled Banks.	A. Rediscounting Bills B. Clearing House C. Transfer of Money D. All the above
8	Which form of automated payment would be better in paying wages to employee	A. BACS B. Standing order C. Direct Debit D. Credit transfer
9	Under fixed fiduciary system, if notes are issued in excess of fiduciary limit then how much value of precious metal or foreign exchange is kept as reserve for over issue	A. 5% B. 10% C. 30% D. 100%
10	What is the objective of clearing house	A. To control credit money B. To clear the transactions of different banks C. Training of banking staff D. Re-discounting of bills