Banking Quiz

The relationship between a banker and customer is............

• That of a debtor and creditor

• That of a creditor and debtor

• Primarily that of a debtor and a creditor 

• a) and (b) together

The banker has a lien on........

• Bonds given for collection

• Bonds given for safe custody

• Bonds left by mistake

• (a) and (b) together

In executing the standing instructions, there exists a relationship of........

• debtor and creditor

• Trustee and Beneficiary

• Bailee and Bailor

• Agent and Principal

To constitute a person as a customer.......

• There must be frequency of transactions

• There must be a dealing of a banking nature

• There must be some sort of an account

• There must be a single transactions of any nature

The banker has a statutory obligation to.........

• Honour customers' cheque

• Exercise lien

• Maintain secrecy of his customers' accounts

• Honour customers' bill

When garnishee order is issued by the court attaching the account of customer, the banker is called................

• Judgement debtor

• Judgement creditor

• Garnishee

• Garnishor

A Collecting banker is given the statutory protection only when he acts as...

• A banker

• A holder for value

• A holder in due course

• An agent

The bank which provides long-term finance is.......

• Exchange Banks

• Investment banks

• Savings Bank

A banker's lien is...........

• general lien

• particular lien

• Negative lien

When a bank lends money to the corporate person the relationship is__________

• Borrower and lender

• Creditor- Debtor

• Debtor- Creditor

• Customer and Client