#Banking #Customer Relationship #Magme 033
1. Which of the following relationship
is / are NOT shared by both bank and its customer?
1. Debtor and creditor relationship
2. Pledger and pledge relationship
3. Trustee and beneficiary relationship
4. All of the above
5. None of the above
2. When a customer opens an account with
a bank and if the account has a credit balance, then the relationship is called
as :
1. Debtor and creditor 2.
Pledger and pledge
3. Agent and principal 4.
Bailor and bailee
5. None of the above
3. Which of the following is /are an
obligation(s) of a bank towards its customers?
1. Honour the cheques
2. Maintain secrecy of customer account
3. Pay bills as per the instructions of the customers
4. Submit periodical statement of the customer’s account on
demand
5. All of the above
4. Money deposited with the bank become
a debt due :
1.
From the customer 2.
From the banker
3.
To the customer 4.
Either (1) or (2)
5.
None of the above
5.
While opening an account in the names of persons
in their capacity as trustee the banker should:
1. Task through
examination of the ‘trust deed’
2. Ask for the
real operator in case multiple trustees
3. Task all
possible precautions to safeguard the interest of the beneciaries of a trust
4. All of the
above
5. None of the
above
6.
KYC means
1. Know your
customer very well
2. Know your
client very well
3. Kind to your
customer
4. Know your
prospective customer very well
5. None of the
above
7.
Which of the following is/are the conditions for
opening and maintaining account in the names of the minors
1. The minor should have attained
the age of discretion
2. The minor should be able to read
and write
3. The minor should be properly
introduced
4. All of the above
5. Only (2) and (3)
8.
How does a bank establish the identity of a
customer
1. By following KYC norms
2. By taking AADHAR card copy
3. By getting introduction of an
existing customer
4. All of the above
5. None of the above
9.
Law of limitation is not applicable in respect
of:
1. Advance against pledge of shares
2. CC granted against hypothecation
of inventory
3. Terms loan secured by mortgage
of plants and machinery
4. Bank term deposit
5. None of the above
10.
The right of set off is:
1. Customer’s right
2. Customer’s obligation
3. Bankers right
4. Banker’s discretion
5. None of the above
ANSWER KEYS
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1(4)
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2(1)
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3(5)
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4(1)
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5(4)
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6(1)
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7(4)
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8(4)
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9(4)
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10(4)
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