1. According to Section 5(b) of the BR Act, “Banking” involves accepting deposits for the purpose of:
A. Only lending
B. Only investment
C. Lending or investment
D. Social welfare
Answer: C
2. Deposits received from the public under Section 5(b) of the BR Act must be:
A. Repayable on demand or otherwise
B. Non-refundable for 10 years
C. Repayable only by cash
D. Non-withdrawable by cheque
Answer: A
3. Which section of the BR Act defines a “Banking Company”?
A. Section 5(b)
B. Section 5(c)
C. Section 7(1)
D. Section 6
Answer: B
4. Section 7(1) of the BR Act prohibits the use of which words by companies other than a Banking Company?
A. Finance or Credit
B. Banker, Banking, or Banking Company
C. Investment or Lending
D. Trust or Agency
Answer: B
5. Under Section 6 of the BR Act, which of the following is considered an important function of a bank?
A. Discounting of Bills
B. Collection of Cheques
C. Hiring Safe Deposit Lockers
D. All of the above
Answer: D
6. What is the maximum number of partners allowed in a firm conducting Banking Business?
A. 20
B. 50
C. 10
D. 100
Answer: C
7. When a customer deposits money in a bank, the relationship between the Bank and the Customer is:
A. Creditor (Bank) – Debtor (Customer)
B. Debtor (Bank) – Creditor (Customer)
C. Trustee (Bank) – Beneficiary (Customer)
D. Bailee (Bank) – Bailor (Customer)
Answer: B
8. If a customer takes a loan from the bank, the Bank’s role is that of a:
A. Debtor
B. Creditor
C. Agent
D. Trustee
Answer: B
9. In a “Safe Custody” transaction, the Bank acts as the:
A. Bailor
B. Bailee
C. Lessor
D. Agent
Answer: B
10. In a Locker transaction, the Customer is referred to as the:
A. Lessor
B. Lessee
C. Bailee
D. Principal
Answer: B
DOWNLOAD JAIIB PPB UNIT 1 BANKER CUSTOMER RELATIONSHIP
Course Content for JAIIB PPB (Principles And Practices Of banking)
1. Video Lecture Course (Recorded Videos)
2. Case Study Videos
3. Numerical Videos
4. Notes [pdf]
5. Question Bank [1500] set [pdf]
6. 10 Mock Tests
Course Content for JAIIB Combo Pack
1. Video Lecture Course (Recorded Videos)
2. Case Study Videos
3. Numerical Videos
4. Notes [pdf]
5. Question Bank [4500] set [pdf]
6. 30 Mock Tests
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