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- Multiple ChoicePlease save your changes before editing any questions.
Which type of check endorsement begins with name "Pay to Marcia Bernas....
blank
restrictive
special/full
- Multiple ChoicePlease save your changes before editing any questions.
Which type of check endorsement would consist of an individual's signature only.
blank
restrictive
special/full
- Multiple ChoicePlease save your changes before editing any questions.
A cheque that is older that 3 months old is called a stale check.
true
false
- Multiple ChoicePlease save your changes before editing any questions.
The drawer is the person writing cheque
True
False
- Multiple ChoicePlease save your changes before editing any questions.
What type of endorsement is the most secure?
Blank Endorsement
Restrictive Endorsement
Endorsement in Full
Full Endorsement
- Multiple ChoicePlease save your changes before editing any questions.
A bank is...
a business that keep money for customers and makes loans.
a company that uses your money for bartering.
an organization that holds money and other valuable assets.
a business that borrows money from you.
- Multiple ChoicePlease save your changes before editing any questions.
A sum of money borrowed for a certain amount of time is called a....
loan
down payment
interest
borrow
- Multiple ChoicePlease save your changes before editing any questions.
Putting money into the bank is called a...
deposit
loan
interest
withdrawal
- Multiple ChoicePlease save your changes before editing any questions.
The amount of money in your account is called the...
balance
final amount
barter
dividend
- Multiple ChoicePlease save your changes before editing any questions.
This is?
cheque
currency
coins
- Multiple ChoicePlease save your changes before editing any questions.
What are the main types of deposits? (Select 3 options)
Current Deposit
Interest Deposit
Fixed deposit
Savings deposit
- Multiple ChoicePlease save your changes before editing any questions.
What is the difference between current and fixed deposit?
Current deposit is only for small sums of money
Fixed deposits can be withdrawn any time, but current deposits can not
Current deposits can be withdrawn any time, but fixed deposits can not
- Multiple ChoicePlease save your changes before editing any questions.
What are the primary functions of commercial banks? (Select 2 options)
accepting deposits
collection of checks
granting loans
foreign exchange
- Multiple ChoicePlease save your changes before editing any questions.
The person to whom the instrument is endorsed is called __
Endorser
Endorsee
- Multiple ChoicePlease save your changes before editing any questions.
When the endorser makes his liability on the cheque dependent on the happening of a specified event, it is known as ___________ endorsement
Special
Conditional
Restrictive
Partial
- Multiple ChoicePlease save your changes before editing any questions.
Under which circumstance cheque can be dishonored by bank (select 3 options)
When it is a antedated cheque
When it is a stale cheque
When it is a mutilated cheque
When it is an altered cheque without signature
- Multiple ChoicePlease save your changes before editing any questions.
Which types of cheque can be en cashed?
Bearer Cheque
Order Cheque
General Crossing
Special Crossing
- Multiple ChoicePlease save your changes before editing any questions.
From the following which type of cheque is safest
Bearer
Crossed
Order
- Multiple ChoicePlease save your changes before editing any questions.
The person to whom the amount is payable, is known as ______
Drawer
Drawee
Payee
- Multiple ChoicePlease save your changes before editing any questions.
A cheque bearing earlier date is called ______cheque
Post dated
Antedated
Mutilated
- Multiple ChoicePlease save your changes before editing any questions.
If the signature of drawer on cheque differs from the specimen signature, the bank may ______the cheque
Honor
Dishonor
- Multiple ChoicePlease save your changes before editing any questions.
A cheque bearing later date is called ______cheque
Post dated
Stale
Antedated
Mutilated
- Multiple ChoicePlease save your changes before editing any questions.
Overdraft facility is provided only on ____________deposit account
Fixed
Recurring
Current
Saving
- Multiple ChoicePlease save your changes before editing any questions.
In which type of deposit account highest rate of interest is received by the customer
Current deposit account
Saving deposit account
Fixed deposit account
Recurring deposit account
- Multiple ChoicePlease save your changes before editing any questions.
In which type of deposit account no interest is received by customer
Current deposit account
Saving deposit account
Fixed deposit account
Recurring deposit account
- Multiple ChoicePlease save your changes before editing any questions.
Which book is an extract of summary customer's account
Pay-in-slip book
Cheque book
Pass book
- Multiple ChoicePlease save your changes before editing any questions.
In which type of deposit account customer is required to deposit and withdraw amount only once as per specified period there on
Current deposit account
Saving deposit account
Fixed deposit account
Recurring deposit account
- Multiple ChoicePlease save your changes before editing any questions.
________required to be filled in at time of depositing cash of cheques
Cheque leaf
Pay-in-slip
Pass book
None of the above
- Multiple ChoicePlease save your changes before editing any questions.
An account holder cannot withdraw money from his account through cheques
True
False
- Multiple ChoicePlease save your changes before editing any questions.
Objectives of credit control includes
To stabilize general price
To keep exchange rate stable
To promote income and employment
To maintain growth of business activity
All of the above
- Fill in the BlankPlease save your changes before editing any questions.
CRR full Form - ___________(write in all capitals on)
- Multiple ChoicePlease save your changes before editing any questions.
When central bank wants to expand credit, it _______ the bank rate
Reduces
Increases
- Fill in the BlankPlease save your changes before editing any questions.
SLR full form - _____________(Write in all capitals on)
- Multiple ChoicePlease save your changes before editing any questions.
An _________ in CRR reduces the capacity of commercial bank to grant credit
Increase
Decrease
- Multiple ChoicePlease save your changes before editing any questions.
Commercial Banks have to keep a margin between the amount of loan granted and the market value of security against which the loan is granted
False
True
- Multiple ChoicePlease save your changes before editing any questions.
Central is know as the Apex bank of the country
True
False
- Multiple ChoicePlease save your changes before editing any questions.
The central bank is Banker's Bank hence it is also known as
Lender of the last resort
Lender of the first resort
Lender to all organization
- Multiple ChoicePlease save your changes before editing any questions.
Central bank is the only organization in the country who has the power of issuing currency notes.
True
False
- Multiple ChoicePlease save your changes before editing any questions.
Agricultural banks are also known as ___________
Land Mortgage Banks
Indigenous Banks
Farmer's Banks
- Multiple ChoicePlease save your changes before editing any questions.
The central banks is the sole custodian of gold, foreign exchange and all other reserves of the country
True
False