MCQ Bank
According to URR525, which of the following is a request for reimbursement from the Claiming Bank to the Reimbursing Bank?
- A) Reimbursement claim
- B) Reimbursement amendment
- C) Reimbursement authorizations
- D) Reimbursement undertaking
Problems loans are handled by ___________________________.
- A) General bankers
- B) Specialist bankers
- C) None of the given options
- D) Central bankers
A document describing about the merchandise, price, FOB origin, and name and address of the buyer is called _________________________.
- A) Warrenty of title
- B) Commercial Invoice
- C) Bill of lading
- D) Letter of indemnity
Which one of following is true for warranty of title?
- A) A standard document evidencing the receipt of goods for shipment and issued by a freight carrier engaged in the business of forwarding or transporting goods
- B) None of the given options
- C) A standard document which states that the title being conveyed is good and that the transfer is rightful
- D) A standard document used for billing for the goods and services
On which of the following dates, Uniform Customs and Practice for Documentary Credits (UCP 600) became effective?
- A) 1st July 2005
- B) 1st July 2008
- C) 1st July 2007
- D) 1st July 2006
In letter of credit, which of the following is a standard document which states that the title being conveyed is good and that the transfer is rightful?
- A) Bill of lading
- B) Commercial Invoice
- C) Warranty of title
- D) Letter of indemnity
Following are the significant factors in a credit evaluation process Except:
- A) Borrower’s credential
- B) Rate of Interest
- C) Amount of credit
- D) Borrower’s own Equity
Which one of the following is NOT the salient feature of bank’s credit culture?
- A) Ethics-Driven
- B) Value Driven
- C) Current-Profit Driven
- D) Market-Share Driven
Head quarters of international chamber of commerce (ICC) are located at:
- A) Rome
- B) New York
- C) London
- D) Paris
______________________involves the borrower’s legal standings and management expertise in maintaining operations of the business, so that he can repay its debt obligations
- A) Capacity
- B) Character
- C) Capital
- D) Communications
Which of the following is one in which the exporter has the right to request the paying, or negotiating bank to make either part, or all, of the credit value available to one or more third parties?
- A) Irrevocable confirmed letter of credit
- B) Red clause credit
- C) Revolving credit
- D) Transferable letter of credit
Negotiable Instrument Act recognizes the following types of promissory notes Except_____________________.
- A) A promise to pay the bearer
- B) A promise to pay
- C) A promise to pay a certain sum of money to a person
- D) A promise to pay a certain sum of money to the order of a certain person
Which of the following banking facility is not available to an illiterate person?
- A) Deposit money
- B) Cash withdrawal by cheque
- C) ATM card
- D) All of the given options
Equitable mortgage is created through deposit of _____________________ with the banks.
- A) Title deed
- B) Mortgage deed
- C) None of the given options
- D) Transfer deed
Which of the following agents work along with the principal?
- A) Co-agents
- B) Public Agents
- C) General Agents
- D) Private Agents
Agency can be created in the following ways Except:
- A) By operation of Law
- B) By ratification
- C) By concent
- D) By coercion
A minor can open his bank account with his/her ________________________.
- A) Father
- B) Guardian
- C) Mother
- D) All of the given options
A partner in a partnership is ______________________ of the firm.
- A) Trustee
- B) Agent
- C) Principal
- D) Executor
Customer is ___________________ in pledger-pledgee relationship.
- A) Pawnee
- B) None of the given options
- C) Pledgee
- D) Pledger
Which of the following is NOT the operating instruction of a joint account?
- A) Either or Survivor
- B) Operated jointly by all the account holders
- C) Operated by any one or more persons authorized to operate the account
- D) Operated by the father of any of the accountholder in his absence