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WorksheetsBanking theory law and Practice
Total questions: 10
Worksheet time: 5mins
Which of the following is a primary function of a banker?
Accepting deposits
Providing insurance services
Offering investment advisory services
Safeguarding valuables
A special relationship exists between a banker and customer when the banker acts as:
a
A debtor
A trustee
An agent
Both b and c
Agency services provided by bankers include:
Acting as a trustee
Paying utility bills on behalf of customers
Providing overdraft facilities
Collecting loans
What type of deposit earns higher interest but restricts withdrawals until maturity?
A. Savings Deposit
Current Deposit
Recurring Deposit
Fixed Deposit
What is the main purpose of a savings account?
For daily transactions without restrictions
To save money and earn interest
For one-time large investments
For systematic withdrawals
Which of these is an example of general utility services provided by a banker?
Issuance of credit cards
Conducting online transactions
Issuance of demand drafts
All of the above
In the banker-customer relationship, when the customer deposits money, the banker becomes:
A creditor
A debtor
A trustee
An agent
The relationship between a banker and customer is primarily that of:
Employer and employee
Debtor and creditor
Buyer and seller
Principal and agent
A "customer" of a bank is defined as someone who:
Deposits money occasionally
Has a regular account with the bank
Visits the bank frequently
Borrows money from any lender
Which act regulates banking in India?
Banking Regulation Act 1949
Consumer Protection Act 1986
Companies Act 1956
Negotiable Instruments Act 1881
