Nomination & Death Claim Settlement Quiz

Who can be appointed as a nominee for a deposit account?

• An association

• A minor

• A trustee

• A partnership

What is the facility made available to depositors to nominate a person who can withdraw the deposit in case of the depositor's death?

• Succession Certificate

• Settlement based on Nomination

• Settlement based on production of Legal Representation

• Settlement in the absence of any Nomination

In which type of deposit account a minor can't be appointed as a nominee?

• Jointly operated accounts

• Capital Gain Savings a/c

• Gold loan accounts

• Term deposits

What is the document issued by a competent court certifying a rightful person to be the successor of a deceased person?

• Will

• Codicil

• Probate

• Succession certificate

In the absence of any nomination or legal representation, what is the maximum claim settlement amount without insisting for a death certificate and other claim forms?

• ₹50,000

• ₹20,000

• ₹5,000

• ₹10,000

In the case of joint deposit accounts with 'Either or Survivor' mandate, who can operate the account on the death of one or more joint depositors?

• Survivor/s

• Testamentary Guardian

• Legal heirs of the deceased

• Guardian ad litem

In the case of deposits in the name of a minor, who should the claim be settled in favour of if it arises before maturity of the deposit?

• Natural guardian

• Legal heirs

• Testamentary Guardian

• Guardian alone

Who is the natural guardian of a Hindu minor if the father is not alive?

• Maternal uncles

• Paternal uncles

• Mother

• Paternal grandfather

In the case of a Locker hired jointly with 'Either or Survivor' mandate, who will be given access to the locker and liberty to remove the contents on the death of one or more joint hirers?

• Guardian ad litem

• Survivor/s

• Testamentary Guardian

• Legal heirs of the joint hirers

In the case of Muslim minors, who can act as the guardian of the property of the minor in the absence of the father and person appointed by the father's will?

• Court appointed guardian

• Mother

• Guardian ad litem

• Paternal grandfather