SET-V

81. The Government derives maximum revenue from                                    (d)
(a) Income tax                      (b) Customs
(c) Sales tax                           (d) Excise duty

82. Which of the following may be adjudged as insolvent?                          (b)
(a) Minor                               (b) Married woman
(c) Firm                                 (d) Lunatic

83. X and Y have joint account. A Garnishee order was served on X who does not have an individual account. Bank shall                                             (c)
(a) Attach the joint account
(b) Attach 50% of the joint account like attachment
(c) Not attach the joint account
(d) All the above

84. Non-registered firm cannot                                                                                 (a)
(a) Sue its partners or debtors      (b) Be sued by its creditors
(c) Be sued by its own partners    (d) None of the above

85. Sets of Garnishee Order                                                                                        (d)
(a) 3                                                    (b) 5
(c) 4                                                    (d) 2

86. Appropriation of accounts is provided in                                                     (b)
(a) Negotiable Instruments
(b) Banking Regulation Act, 1949
(c) Indian Contract Act, 1872
(d) All the above

87. A cheque becomes stale after                                                                              (c)
(a) 2 months                                                 (b) 3 months
(c) 6 months                                                 (d) 12 months

88. Bank conducts Government business at its branches as an agent of (a)
(a) RBI                                               (b) SBI
(c) Government of India                  (d) None of the above

89. The validity period of a challan/bill passed by a Treasury Officer is for
(b)
(a) 7 days                                           (b) 10 days
(c) 14 days                                         (d) 20 days

90. A draft for Rs. 18,000 is issued in which series?                                        (c)
(a) OT                                                 (b) TT
(c) OL                                                 (d) OM

91. Minimum period for which a locker can be hired is                                 (c)
(a) 1 week                                          (b) 3 months
(c) 6 months                                       (d) 12 months

92. When a fixed deposit receipt is kept with the bank for its safety, it is known as                                                                                                                          (a)
(a) Safe custody                                (b) Safe deposit
(c) Locker                                          (d) Valid safe deposit

93. Rupee Traveller Cheques are for a period of                                               (d)
(a) 6 months                                                 (b) 12 months
(c) 24 months                                              (d) Unlimited

94. India’s 7th Export Processing Zone is being set up at                               (c)
(a) Mumbai                                       (b) Visakhapatnam
(c) Cochin                                          (d) Chennai

95. Gilt-edged securities are                                                                                       (b)
(a) Shares of a private limited company
(b) First-class Government securities
(c) Shares of a company
(d) None of the above

96. Certificate of Deposits can be issued for a minimum period of           (b)
(a) 45 days                                         (b) 3 months
(c) 6 months                                       (d) 1 year

97. Telegraphic Transfer Receipt is a                                                                     (c)
(a) Bearer instrument                    (b) Order instrument
(c) Non-negotiable                          (d) Business letter

98. A gift cheque is                                                                                                          (c)
(a) A negotiable instrument
(b) An order instrument
 (c) Simple receipt
(d) A quasi-negotiable instrument

99. If a payee of a mail transfer does not maintain account                         (a)
(a) Banker’s cheque will be issued
(b) M. T. will be credited to Sundry Deposit Account
(c) Draft will be issued
(d) New account will be opened

100. Which of the following can delegate his power to a third person? (c)
(a) Liquidator                                   (b) Executor
(c) Individual                                    (d) Partner


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