SET-IV

61. A minor is admitted to the partnership firm as                                           (d)

(a) Agent                   (b) Partner

(c) Minor (                d) Beneficiary

62. Legal guardian of minor is                                                                                  (b)

(a) Nominated by the court for legal decision

(b) Appointed by the court

(c) Natural guardian

(d) Executor-administrator appointed by the court

63. A shareholder has been defined by                                                                  (b)

(a) The Banking Regulation Act, 1949

(b) The Companies Act, 1956

(c) The Securities Contract Regulation Act, 1956

(d) Indian Contract Act

64. What is the maximum period for which a Public Limited Company can raise deposits from the public?                                                                          (c)

(a) 12 months                       (b) 18 months

(c) 36 months                       (d) 24 months

65. Group of companies/firms/associates is defined in                                 (a)

(a) Companies Act               (b) Sale of Goods Act

(c) Contract Act                    (d) Partnership Act

66. Which of the following cheques if paid do not get statutory protection?     

                                                                                                                                                (b)

(a) Bearer cheques              (b) Open cheques

(c) Stolen cheques               (d) All the above

67. Period of limitation for deposits starts from                                               (b)

(a) Date of the cheque

(b) Date of presenting cheque on the counter

(c) Date of making deposits

(d) Date of refusal by the bank

68. Who supplies interest-charts for different maturities and for different rates of interest ?                                                                                                            (a)

(a) IBA                                               (b) RBI

(c) Government of India                (d) IBRD

69. The minimum period under which a term deposit under Reinvestment Plan can be issued is                                                                                                      (c)

(a) 24 months                                  (b) 12 months

(c) 6 months                                     (d) 9 months

70. Rates of Interest on deposits are determined by                                        (c)

(a) IBA                                   (b) Ministry of Finance

(c) RBI                                   (d) Government of India

71. Interest on the savings bank accounts is compounded                            (d)

(a) Monthly                          (b) Yearly

(c) Quarterly                        (d) Half-yearly

72. What is the limitation of the number of persons in a joint savings bank

account?                                                                                                                             (d)

(a) Two                                  (b) Four

(c) Five                                   (d) No limit

73. The minimum average balance required to be maintained in a current account to avoid payment of ‘ledger fee’ is                                                          (b)

(a) Rs. 500 credit                 (b) Rs. 1,500 credit

(c) Rs. 1,500 debit                (d) Rs. 2,000 credit

74. Current account becomes dormant when there are no withdrawals for the last                                                                                                                          (b)

(a) 3 months                         (b) 6 months

(c) 12 months                       (d) 18 months

75. How do you consider Joint Hindu Family?                                                  (a)

(a) Legal entity                     (b) Association of persons

(c) Partnership concern       (d) All the above

76. Maximum period of a usance bill considered by bank is                        (a)

(a) 6 months                         (b) 9 months

(c) 12 months                       (d) 24 months

77. Which of the bills has no grace period?                                                         (d)

(a) Demand bill                    (b) Clean bill

(c) Sight bill                          (d) All the above

78. After acceptance, the primary liability on a Bill of Exchange is that of (b)

(a) Payee                              (b) Acceptor

(c) Drawee                          (d) Endorsee

79. Which of the following are accommodation bills?                                    (a)

(a) House bills

(b) Bills representing trading transactions

(c) Bills accepted with consideration

(d) None of the above

80. Under the Sale of Goods Act, a warehouse-keeper’s certificate is a   (c)

(a) Contract of sale                          (b) Contract of pledge

(c) Document of title to goods        (d) Contract of lease