FIN360

Which of the following is not includes under the banking business activities?

-

• Receiving deposit in any currency or deposit account

• Any provisions allowed by the Central bank's Governor

• Paying or collecting cheque

• Providing loans and advances

The following are the duties of a banker except:

• Indemnified for loss incurred when carrying out a service for a customer.

• Collect the money and cheques that a customer has paid in.

• Give notice of closure of a credit account

• Secrecy of customer account

Which of the following are the rights of a customer?

i. Right to be supplied with a statements or passbook

ii.Right to be repaid the balance standing to the credit of the customer’s account.

iii. Right to interest on his current account.

iv.Right to appropriate payments

• i and iii

• b) i, ii and iii

• c) i, ii and iv

• All of the above

"Happens when the customer gives the banker a mandate /instruction to perform certain transaction such as to buy or sell shares." Which of the following refer to the statement?

• Debtor and Creditor Relationship

• Principal and Agent Relationship

• Special Relationship

• Trustee and Beneficiary Relationship

The Limitation Act 1980 statute prohibits legal actions in simple contract when the cause of action arose more than ............ years previously.

• 5

• 7

• 6

• 3

Below are the conditions to be fulfilled before any set off can be done except...

• Debts amount must be certain

• Debt must be due.

• Accounts must be of the same righr

• Receipt of a garnishee order.

Which of the following are not the practical considerations expected of a bank when giving his Banker Opinion?

• The reply must in specific as requested

• Any debentures must always be mentioned

• Bank is under no duty to obtain information from outside source

• A disclaimer must accompany both telephone and written

......................is an ex parte ( by one party in the absence of the other ) granted by court to restrain the defendant from removing assets from the jurisdiction pending trial

• Garnishee Order

• Mareva Injunction

• Rule of Clayton case

• Set-off

Below are the Possible Liabilities/ Responsibilities/ Obligations When a banker Give Banker opinion except

• Breach duty of secrecy

• slander

• grapevine

• Negligence

"The relationship of banker and customer existed as from the date when the bank accepted the instructions contained in the letter even though an account was not opened until three weeks after that date"

The following statement refer to the case of....

• Ladbroke & Co vs Todd (1914)

• Great Western Railway vs London & Country Banking Co Ltd. (1901)

• Oriental Bank vs Rubber Industry

• Woods vs Martin Banks (1959)