Bank Promotion Exam Practice Tests Set 20

Which of the following is not true when a banknote, which is suspected to be counterfeit or is found to be counterfeit, is tendered across the counter?  


Options are :

  • Such Banknote shall be impounded by SWO/Asstt (Cash) and branded with a stamp ‘COUNTERFEIT BANKNOTE IMPOUNDED’
  • Size of Stamp should be 5 cm X 5 cm
  • An acknowledgement receipt to be issued to the tenderer in the prescribed format authenticated by the cashier & the tenderer
  • An FIR to be filed with local police authorities only when the bonafide of the tenderer are suspect

Answer :An FIR to be filed with local police authorities only when the bonafide of the tenderer are suspect

Which of the following is not true regarding issuance of receipt to tenderer of counterfeit note?  


Options are :

  • Format of receipt has been prescribed by RBI
  • Running Serial No of Receipt to be maintained
  • Receipt should be authenticated by the Cashier as well as by the tenderer
  • Receipt should not be issued when the tenderer is unwilling to countersign the receipt

Answer :Receipt should not be issued when the tenderer is unwilling to countersign the receipt

Printing & Circulation of forged Indian currency notes is an offence v/s


Options are :

  • Sec 292 of Criminal Procedure Code
  • Sec 489A to 489E of Indian Penal Code
  • Both
  • None

Answer :Sec 489A to 489E of Indian Penal Code

Bank Promotion Exam Practice Tests Set 3

Forged Note Vigilance Cell (FNVC) of the bank is required to submit data on counterfeit notes detected during a month on all India basis by email to ____before the end of succeeding month  


Options are :

  • RBI Issue Office
  • FIU-IND, New Delhi
  • National Crime Records Bureau, New Delhi
  • Currency Management Dept. of RBI, Mumbai

Answer :Currency Management Dept. of RBI, Mumbai

Which of the following is not true regarding cash held by Non Currency Chest Branch?


Options are :

  • Cash held by our Non currency Chest Branches is our property
  • Overnight Cash Retention Limit for each branch is fixed based on factors like their cash requirement, distance to the nearest currency chest
  • Cash retained overnight are covered under Transit Insurance
  • Cash held by our Non Currency Chest Branches are idle asset for the Bank

Answer :Cash retained overnight are covered under Transit Insurance

Who will be responsible for tampered bundles / note packets kept in the vault? .


Options are :

  • Cash-in-Charge alone
  • Joint Custodian of Vault
  • Accountant alone
  • Branch Head alone

Answer :Joint Custodian of Vault

Bank Promotion Exam Practice Tests Set 1

In respect of soiled notes bundles prepared for remittance to RBI, who is/are responsible for Quality & Quantity of notes in the bundle  


Options are :

  • Person preparing the bundle
  • Cash-in-charge
  • Accountant
  • Joint Custodian

Answer :Person preparing the bundle

Currency Notes are printed at   


Options are :

  • Nasik, Pune, Dehradun &Mysore
  • Nasik, Pune, Indore & Kanpur
  • Nasik, Dewas, Mysore & Salboni
  • Nasik, Hissar, Salboni & Pune

Answer :Nasik, Dewas, Mysore & Salboni

Relationship of banker with payee of draft  


Options are :

  • Debtor and creditor
  • Trustee and beneficiary
  • Creditor and debtor
  • Lessee and lessor

Answer :Trustee and beneficiary

Bank Promotion Exam Practice Tests Set 10

In case both the original & duplicate drafts are presented simultaneously for payment, then 


Options are :

  • Original to be paid and duplicate is to be returned with reason ‘Original paid’
  • Duplicate is to be paid and original is to be returned with reason ‘Duplicate since paid’
  • Both drafts should be returned with reason ‘Payee’s Endorsement requires verification’
  • Either a or b

Answer :Duplicate is to be paid and original is to be returned with reason ‘Duplicate since paid’

Issuance of draft payable to bearer is prohibited under which Act? 


Options are :

  • Section 31 of BR Act
  • Section 35 of RBI Act
  • Section 31 of RBI Act
  • Section 35 of RBI Act

Answer :Section 31 of RBI Act

Which of the following is not true in respect of Usance Bill?


Options are :

  • It is payable after some specified time
  • Grace period of 3 days are not allowed
  • Affixing appropriate stamp is mandatory
  • All are true

Answer :Grace period of 3 days are not allowed

Bank Promotion Exam Practice Tests Set 11

Which of the following is not true in respect of Noting & Protesting of a Bill of exchange? 


Options are :

  • Noting is recording the fact of non-acceptance/non-payment of a bill of exchange by a notary public
  • Protesting is certifying the dishonor of a bill (either by non-acceptance or non-payment) in addition to Noting by the Notary Public
  • Bank should get the dishonored bill noted & protested in all cases
  • All are true

Answer :Bank should get the dishonored bill noted & protested in all cases

Which of the following is not true in respect of Nomination facility in Safe Custody? 


Options are :

  • Available under Section 45ZC of Banking Regulation Act
  • Only one individual can be named as nominee
  • Nomination available in case of joint accounts also
  • Nomination can be cancelled or varied

Answer :Nomination available in case of joint accounts also

In case of death of sole depositor, where nomination is not available and all the legal heirs do not join in executing the indemnity, scrip held under Safe Custody can be delivered against 


Options are :

  • Letter of Administration
  • Succession Certificate
  • Affidavit cum Indemnity
  • Either a or b

Answer :Succession Certificate

Bank Promotion Exam Practice Tests Set 12

Which of the following statement is not true? 


Options are :

  • In case of death of a customer having a security A/c, the Bank can continue to collect the interest and credit it to his overdraft A/c
  • In respect of a safe custody a/c also, the mandate to collect interest will not lapse on the death of the customer
  • In respect of a safe custody a/c, the mandate to collect interest will lapse on the death of the customer
  • All are true

Answer :In respect of a safe custody a/c also, the mandate to collect interest will not lapse on the death of the customer

Packets containing ‘Will’ must be super scribed by the maker-depositor with the legend 


Options are :

  • “Deliverable to Sri ………………………. on application”
  • “please deliver to Sri ……….. on my death”
  • Either a or b

Answer :“Deliverable to Sri ………………………. on application”

In case of death of sole/all depositor, where nomination is not available and all the legal heirs do not join in executing the indemnity, articles held under Safe deposit can be delivered against 


Options are :

  • Letter of Administration
  • Succession Certificate
  • Affidavit cum Indemnity
  • Either a or b

Answer :Succession Certificate

Bank Promotion Exam Practice Tests Set 13

A Power of Attorney holder can 

 


Options are :

  • Operate the Locker
  • Surrender the locker
  • Both a and b
  • Neither a nor b

Answer :Operate the Locker

In case of Joint A/c (E or S), locker can be surrendered and the account closed 


Options are :

  • By both of them jointly
  • By either of them
  • By First Hirer singly
  • Either a or b

Answer :By both of them jointly

Which of the following is not true in respect of search warrant of locker issued by Income Tax? 


Options are :

  • Can be issued under Sec 132 of Income Tax Act
  • It should be signed by official not below the rank of Commissioner of Income Tax
  • Hirer’s Presence is mandatory
  • All are true

Answer :Hirer’s Presence is mandatory

Bank Promotion Exam Practice Tests Set 14

Which of the following is not true regarding opening of SB A/c in the name of an Illiterate person? 


Options are :

  • SB A/c without cheque may be opened singly or jointly with other person(s)
  • Cheque operated A/c may also be opened where one of the depositors is literate
  • An independent witness should be obtained while closing accounts of Illiterate Persons
  • All are true

Answer :All are true

Can an SB A/c account be opened in the name of a person not knowing either the Regional language or English or Hindi? 


Options are :

  • No
  • Yes, without any restrictions
  • Yes, but as in case of an illiterate person

Answer :Yes, but as in case of an illiterate person

The foreign currency account maintained by our Foreign Department with our foreign branches/correspondents in  different countries is known as __________________ 


Options are :

  • Special account
  • Vostro account
  • Nostro account
  • FCNR account

Answer :Nostro account

Bank Promotion Exam Practice Tests Set 15

“Bulls & Bears” is used in


Options are :

  • credit rating
  • vegetable markets
  • stock exchange
  • risk management

Answer :stock exchange

Rate applied for a foreign exchange  transaction which involves  immediate conversion of currency is known as    _________________ 


Options are :

  • ready rate
  • forward rate
  • merchant rate
  • long rate

Answer :ready rate

Y's current account is over drawn by Rs 3500/-.The bank can exercise right of setoff against


Options are :

  • credit balance in the partnership account where y is a partner
  • cash deposited by y for buying a DD
  • credit balance in the account of a minor with y as Guardian
  • credit balance in the account of y maintained with another branch of the same bank

Answer :cash deposited by y for buying a DD

Bank Promotion Exam Practice Tests Set 16

‘Mr Ramesh, I owe you a sum of Rs 5000/’- is  


Options are :

  • Promissory Note
  • Acknowledgement of debt
  • Conditional Promise
  • None of these

Answer :Acknowledgement of debt

“We have received a sum of Rs 15000/- from Sri Vikash Prasad Verma. The above amount will be repaid on demand. We have received Rs 15000/- in cash today.” is 


Options are :

  • Promissory Note
  • Acknowledgement of debt
  • Neither a nor b
  • Both a & b

Answer :Both a & b

Rate applied for a foreign exchange  transaction which involves  immediate conversion of currency is known as    _________________ 


Options are :

  • ready rate
  • forward rate
  • merchant rate
  • long rate

Answer :ready rate

Bank Promotion Exam Practice Tests Set 17

Comment / Suggestion Section
Point our Mistakes and Post Your Suggestions