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Model IBPS Banking Awareness questions (Set-4)

Q. The Joint Hindu Family is considered as-

(a) Legal entity
(b) Association of persons
(c) Partnership concern
(d) All the above

Q. What is Telegraphic Transfer Receipt? It is a-

(a) Bearer instrument
(b) Order instrument
(c) Non-negotiable
(d) Business letter

Q. What are Gilt-edged securities?

(a) Shares of a private limited company
(b) First-class Government securities
(c) Shares of a company
(d) None of the above

Q. What happens when a payee of a mail transfer does not maintain account?

(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

Q. Banking is dealt with which schedule of Indian constitution?

(a) 5th
(b) 6th
(c) 7th
(d) 8th

Q. What is the minimum amount to effect a currency transfer?

(a) Rs. 500
(b) Rs. 2,000
(c) Rs. 1,000 withdrawal deposit Rs. 500
(d) Rs. 5,000 multiples of Rs. 1,000

Q. What do you mean by Indian Currency?

(a) One-rupee notes and coins under Indian Coinage Act, 1906
(b) Notes only
(c) Coins only
(d) None of the above

Q. Which notes, the banks do not exchange?

(a) Solid notes
(b) Mismatched notes
(c) Mutilated notes
(d) All the above

Q. On a cheque, you can see only bank’s name is written instead of two parallel lines. It is a-

(a) General crossing
(b) No crossing
(c) Payable to bearer
(d) Special crossing

Q. The minimum period of reinvestment deposits is-

(a) 1 month
(b) 2 months
(c) 3 months
(d) 6 months

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