Important Banking Awareness Quizzes (Topic Wise) Day-168

Important Banking Awareness Quizzes (Topic Wise) Day-168:

Dear Readers, Here we have provided the Important Banking Awareness Quizzes based on particular topic, which will help to understand and prepare in a better way. Candidates those who are preparing for upcoming IBPS/SBI Exams 2018 can make use of it.

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Daily Practice Test Schedule | Good Luck

1. Promissory note defines under ___________

1.   Section 2
2.   Section 5
3.   Section 4
4.   Section 6
5.   None of these

2. Bill of exchange defines under ___________

1.   Section 1
2.   Section 3
3.   Section 4
4.   Section 5
5.   None of these

3. Cheque defines under ___________

1.   Section 6
2.   Section 8
3.   Section 9
4.   Section 10
5.   None of these

4. Negotiable Instruments defines under ___________

1.   Section 15
2.   Section 12
3.   Section 17
4.   Section 14
5.   None of these

5. Cheque Crossed generally defines under ___________

1.   Section 120
2.   Section 123
3.   Section 121
4.   Section 125
5.   None of these

6. Cheque crossed specially defines under ___________

1.   Section 124
2.   Section 126
3.   Section 128
4.   Section 130
5.   Both Sections 124 and 126

7. Cheque bearing Not Negotiable defines under ___________

1.   Section 128
2.   Section 130
3.   Section 132
4.   Section 135
5.   None of these

8. Presumptions as to Negotiable Instruments defines under ___________

1.   Section 121
2.   Section 109
3.   Section 118
4.   Section 125
5.   None of these

9. Which of the following section defines Business of RBI?

1.   Section 17
2.   Section 20
3.   Section 24
4.   Section 28
5.   None of these

10. Which of the following section defines Deals with Emergency loans to Banks?

1.   Section 10
2.   Section 12
3.   Section 14
4.   Section 18
5.   None of these

11. Which of the following section defines Only RBI has the exclusive rights to issue currency notes in India?

1.   Section 20
2.   Section 25
3.   Section 29
4.   Section 21
5.   None of these

12. Which of the following section defines maximum denomination a note can be Rs. 10,000?

1.   Section 34
2.   Section 24
3.   Section 44
4.   Section 64
5.   None of these

13. Which of the following section describes the legal tender character of Indian bank notes?

1.   Section 30
2.   Section 24
3.   Section 16
4.   Section 26
5.   None of these

14. Which of the following section defines allows the RBI to form rules regarding the exchange of damaged and imperfect notes?

1.   Section 28
2.   Section 25
3.   Section 20
4.   Section 30
5.   None of these

15. Which of the following section defines In India only the RBI or the central government can issue and accept promissory notes that are payable on demand?

1.   Section 43
2.   Section 39
3.   Section 31
4.   Section 36
5.   None of these

Answers:

1. Section 4 – Promissory note

Correct Answer is: c)

2. Section 5 – Bill of exchange

Correct Answer is: d)

3. Section 6 – Cheque

Correct Answer is: a)

4. Section 13 – Negotiable Instruments

Correct Answer is: e)

5. Section 123 – Cheque Crossed Generally

Correct Answer is: b)

6. Section 124, 126 – Cheque crossed specially

Correct Answer is: e)

7. Section 130 – Cheque bearing Not Negotiable

Correct Answer is: b)

8. Section 118 – Presumptions as to Negotiable Instruments

Correct Answer is: c)

9. Section 17 – Defines Business of RBI

Correct Answer is: a)

10. Section 18 – Deals with Emergency loans to Banks

Correct Answer is: d)

11. Section 22 – only RBI has the exclusive rights to issue currency notes in India

Correct Answer is: e)

12. Section 24 – maximum denomination a note can be Rs. 10,000

Correct Answer is: b)

13. Section 26 – Describes the legal tender character of Indian bank notes

Correct Answer is: d)

14. Section 28 – Allows the RBI to form rules regarding the exchange of damaged and imperfect notes

Correct Answer is: a)

15. Section 31 – In India only the RBI or the central government can issue and accept promissory notes that are payable on demand

Correct Answer is: c)

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