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WorksheetsP&PB 2023 QUIZ-1
Total questions: 25
Worksheet time: 13mins
Name
Class
Date
1.
1. Principal function of banks are :
a)
a) Accepting deposits
b)
b) Lending and investing
c)
c) Non-fund business and remittance services
d)
d) All of the above (a) to (c)
e)
e) Only (a) & (b)
2.
2. When a bank lends money to the corporate person the relationship between them is of …..
a)
a) Borrower and lender
b)
b) Creditor-debtor
c)
c) Debtor-creditor
d)
d) Customer and client
3.
3. What relationship is created when the bank collects a cheque in clearing?
a)
a) Holder of value
b)
b) Clearing member and principal
c)
c) Agent and principal
d)
d) Collecting bank and holder
e)
e) None of the above.
4.
4. Demand deposits are those which can be withdrawn…………..
a)
a) On request
b)
b) On sanction by Manager
c)
c) On demand
d)
d) On persuasion
5.
5. Merchant bankers are………….
a)
a) Financial brokers
b)
b) Financial intermediaries
c)
c) Credit appraisers
d)
d) Underwriters
e)
e) All of the above.
6.
6. Objective(s) of KYC is/are…………..
a)
a) To ensure appropriate customer identification.
b)
b) To monitor transaction of suspicious nature
c)
c) To ensure that the customer would not deceive the bank
d)
d) To ensure if loan is given it would not become a NPA
e)
e) Only (a) and (b)
7.
7. Banks appoint a________ who is responsible for submission of reports to FIU-Ind.
a)
a) Designated director
b)
b) Company secretary
c)
c) Principal Officer
d)
d) Compliance officer.
8.
8.Customers are typically categorized in _______ risk categories.
a)
a) Four
b)
b) Three
c)
c) Two
d)
d) Five
9.
9. Director, FIU-India can take action against_______ for violation of PMLAobligations.
a)
a) The bank
b)
b) Any employee
c)
c) The principal officer
d)
d) All of the above.
10.
10. Non-profit Organizations Transactions Report pertains to_____ in the accounts of NPOs.
a)
a) Cash transactions
b)
b) All transactions
c)
c) Receipts above a threshold value
d)
d) Cash receipts
11.
11. Customer Acceptance Policy of a bank should state that the bank will not open an account…
a)
a) Which is operated by a hird person on behalf of the account holder.
b)
b) For a professional intermediary for its client
c)
c) In benami name
d)
d) Without a PAN
12.
12. Customer identification is required to be done for international transfer of funds of______
a)
a) Rs.50,000 and above
b)
b) Over Rs.50,000
c)
c) Any value
d)
d) None of the above.
13.
13. In case of NRIs for the purpose of opening an account a copy of KYC document may be certified by ___________.
a)
a) The NRI herself
b)
b) The employer of NRI
c)
c) Any bank branch
d)
d) A Judge
14.
14. Among he documents stated below_____is not an OVD.
a)
a) PAN card
b)
b) Job card by NREGA
c)
c) Letter by NPR
d)
d) Proof of possession of Aadhar Number
15.
15. In case of a company which is not listed any individual with holding more than ______ of he total share capital is a beneficial owner.
a)
a) 15%
b)
b) 30%
c)
c) 10%
d)
d) 25%
16.
16. Intoduction while opening accounts is
a)
a) Optional
b)
b) Not to be taken
c)
c) Discretionary
d)
d) Compulsory
17.
17. A minor for whom the court has appointed a guardian attains majority on completion of____
a)
a) 21 yers
b)
b) 18 years
c)
c) 15 years
d)
d) 17 years
18.
18. Minor’s account can be opened in the guardianship of _______.
a)
a) Mother and father
b)
b) Mother or father
c)
c) Grandmother
d)
d) Elder brother
19.
19. There should be two persons to open a partnership account in a bank. In which of the following cases an account can be opened?
a)
a) X aged 25 years Y aged 17 years
b)
b) X aged 25 years Y aged 21 years
c)
c) X aged 17 years and Y aged 16 years
d)
d) Ku.Shubha aged 30 years and Ku Rachna aged 16 years [daughter of Ku.Shubha)
e)
e) X aged 71 years Y aged 57 years but lunatic.
20.
20. HUF account is to be opened in a bank where there are three major persons Shivkumar- Father; Mrs.Ramawati – Shivkumar’s mother, Sharat Kumar – Son; Who can become Karta of HUF ?
a)
a) Shivkumar
b)
b) Sharat Kumar
c)
c) Mrs.Ramawati
d)
d) Both Shivkumar and Ramawati
e)
e) Both Shivkumar and Sharat Kumar
21.
21. Current account cannot be operated by ________.
a)
a) Women
b)
b) An individual
c)
c) An illiterate persons
d)
d) A non-resident
e)
22.
22. A minor aged ___ years or ore is allowed to operate a savings bank account independently.
a)
a) 12
b)
b) 8
c)
c) 15
d)
d) 10
23.
23.For a safe deposit locker a customer can make _______ nominee(s).
a)
a) Only one
b)
b) Four
c)
c) More than one
d)
d) Two
24.
24. Interest rate on fixed deposits can be different on deposits _____
a)
a) In rural areas
b)
b) Of different tenor
c)
c) Of individuals
d)
d) Of women
25.
25.Banks cannot pay interest on ______________.
a)
a) Accounts attached by ED
b)
b) Unclaimed deposits
c)
c) Accounts frozen by them
d)
d) Current accounts.
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