Question # 1

Bank is bound to honour the cheque of customer if:

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Required amount is available in amount

Cheque is according to rules of conduct

There is no restriction by government

All of the above

Person having an account with a bank or having some similar relation with the bank is called

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Owner

Debtor

Consumer

Customer

When goods are made available as security for a loan from bank.

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Hypothecation

Mortagage

None of these

Both a and b

The main uses of bank funds are.

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Cash reserve

Granting loan

Issuing shares

None of these

A form of written agreement between bank and customer is

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Cheque book

Pass book

Application form for opening account

None of the above

Which of the following customers does not have more rights on bank:

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Individual customer

Joint customer

Minor customer

All have the same

A good security is one which is.

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Perishable

Marketable

Disputed

All the above

Pledge means loan given against

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Immovable property

Movable property

Botha a and b

None of these

The document which reveals the ownership of goods kept on port.

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Bill of lading

Dock warrant

Railway recipt

Deliery order

The parties involved in a gurantee are.

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Debtor

Creditor

Guarantor

All these

What is the status of an account if opened by a government institution

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A non-trading concern

An individual

A joint-stock company

A joint customer

If an old joint stock company opens the account then a bank demands for last few years:

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Balance sheet

Annual report

Both (a) & (b)

None of the above

Who is responsible for loan in case of joint customer:

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All partners of persons

Person having authority to deal with bank

Active partner

None of the above

Which of the following cannot open account in a bank

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Pargah-nasheen women

Minor or infant

Lunatic or mental patient

Non-trading concern

Married women can open following account in bank:

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Saving account

Current account

Fixed amount

All of the above

Clubs, cooperative societies, and associations etc. are entitled as following concern

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Partnership

Non-trading

Trading

All the above

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Principles of Banking Icom Part 2 English Medium Chapter 7 Online Test MCQs With Answers

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