IIBF Exam 11-20

A bank can accept

fixed deposit for a maximum

period of ________

• 30 years

• 20 years

• 10 years

• Any time

Which one of the

following is true in regard to

Fixed Deposit Receipts?

• It is transferable like a cheque

• It is a negotiable instrument

• It is payable only on its due date

• It is payable at the branch of

  issue.

In a normal recurring deposit

for two years, the depositor makes

___________

• Monthly deposit of a fixed sum for

  two years.

• Deposit of the entire amount at the

  beginning

• Yearly deposit of a fixed sum for two

  years

• None of the above

Which one of the following

statements is not true in respect of

current account?

• Individuals can open current accounts.

• Banks can pay interest on current

  accounts at their discretion.

• Overdraft facility can be granted on a

  current account.

• There is no restriction on the number

  of transactions in a current account.

Current accounts

and saving accounts are

also known as _______

• Fixed deposits

• Demand deposits

• Term deposits

• All of the above

A Recurring

deposit is classified as

_______

• Demand deposits

• Hybrid Deposit

• Flexi Deposit

• Term deposits

An account opening

form based on which a bank

account is opened is

essentially _______ .

• A memorandum

• A requisition

• A contract

• None of the above

The market of

financially excluded is_____

volume, ______ turn over

and ____number.

• Low, High, High

• Low, Low, High

• High, Low, Low

• High, Low, High

Which one of the

following documents is not an

officially valid document for KYC

purposes?

• Aadhar Number/Card

• PAN

• Voter ID

• National Population Register

  Letter

For opening an account of

a Self-Help Group (SHG) KYC

verification of _____ of the SHG is

required.

• Only the office bearers

• All the members

• At least half the members

• All the office bearers and at least

  one-third of the remaining members