Principles of Banking I Com Part 2 MCQS Set 3

Head of any government institution can open account with a bank in the capacity of

None of the above

Employee

Consumer

Principal

The money sent through post office from one country to another

Bank draft

Traveller’s cheque

International money order

Letter of credit

Customer can with draw money only after the expiry of fixed time:

From current account

From all of the above

From fixed deposit

From saving account

Maintenance of minimum balance is not required in

Saving account

Basic banking account

Current account

None of these

The rate of exchange determined by two countries following non-convertible paper currency system is a point where

The purchasing power of currency is different

None of the above

The purchasing power of currency is zero

The purchasing power of currency is same

The primary objective of a central bank is to

All of the above

Advance loans to traders

Earn profit

Safeguard the national interest

The signature of the following is compulsory on B/E:

Both (B) and (C)

Drawer

Drawee

Bank

The detail in the memorandum of bank is recorded :

In one paragraph

All of the above

In seperate paragraphs

On one page

Treasury bill is a :

Negotiable credit instrument

Shares

Non-negotiable credit instrument

Debentures

When cheque is cashed then its main foil is given to:

None of these

Bank

Customer

Government