Question # 1

Bank prefers to advance loan on such documents

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Which are easy to keep

Which are transferable

Whose price can be determined easily

All the above

Who does accept the responsibility for repayment debt

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Guarantor

Personal security

Both a and b

None of the these

What is meant by hypothecation

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To hand over the goods or documents of title to goods by a customer to the bank as a security against a debt

To hand over the documents of property by a customer until the repayment of debt

A type of security in which neither the ownership nor the possession passes to the bank

A receipt of loan which shows that money has been borrowed against an immovable property as a security

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

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Endorser

Debtor

Endorsee

None of these

On every cheque bank gets.

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Tax

Profit

Duty

Commission

Cheque is always payable on.

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Phone call

At sight

After banking hour

On demand

Negotiable instruments are defined by Act.

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1881

1857

1694

1935

Long term loan period is consisted of:

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Days

Months

Years

All of the above

What is called a good security

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Whose price can be determined easily

Which does not have any government restriction

Whose ownership is totally clear

All the above

Long term is advanced against the following security:

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Non-material

Material

Personal

All of the above

Account payee only in the transverse parallel line.

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Bearer cheque

Special crossing

General crossing

None of these

What is meant by the principle of diversity regarding issuance of loan

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Lending only to those who can repay the debt at short notice

Lending against some material security

Lending in terms of sure repayment

Lending to different businesses or individuals

Negotiable credit instrument.

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Control credit

Stop credit

Create credit

None of these

Crossing makes the cheque

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Acceptable

Dishonour

Safe

None of these

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

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

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