1) Banking is defined in section 5 (b) of______: a) BR Act 1949 b) RBI act 1934 b) Companies act 1956 d) All of the above
2) Banking Companies cannot hold immovable property except for their own use for a period of not more than ___ years from the date of acquisition of the property: a) 2 b) 4 c) 5 d) 7
3) The essential features of a Contract include______: a) Consideration b) Free consent c) Capacity to Contract for all the parties involved d) All of the above
4) A contract that arises out of certain circumstances and not made by a regular offer and acceptance such as is known as –: a) Void contract. b) Valid contract c) Quasi contract d) Semi Contract
5) Banks extend cash credit limits to borrowers against third party guarantees. Here the guarantee can said to be a ------------: a) Continuous guarantee b) Limit guarantee c) Performance guarantee d) Credit guarantees
6) In a contract of guarantee, the liability of the surety covers any sum owed by the principal debtor. Therefore, the liability includes -------- also: a) Interest b) Costs c) Charges d) All of the above
7) A contract of insurance is a contract of: a) Guarantee b) Indemnity c) Indemnity & Guarantee d) None of the above
8) If the due date of the bill falls on a holiday, the bill should be retired, a) On previous working day b) On succeeding working day c) Either
9) Rights of an unpaid seller are: a) Lien b) Stoppage in transit c) Lien & stoppage in transit d) None of the above
10) Apart from its central board, RBI has local boards in------------------. a) Mumbai, Delhi, Kolkata, Chennai b) Kolkata, Delhi c) Chennai, Mumbai d) Delhi & Kolkata