Banking Questions and Answers

Banking | Testing | Mock Test

How many articles are included in Uniform Rules for Collection for Documentary Credits?
a. 24
b. 25
c. 26
d. 27

Answer : 26
How many categories of Exchange Rate Arrangements are classified by IMF?
a. 2
b. 3
c. 4
d. 5
Answer : 3
What’s the reason for two-way quotes in the interbank forex market? Select the best answer.
a. To ensure liquidity of the currency
b. To get the best rate for the forex deals
c. To cover the merchant transactions
d. To ensure the market is active throughout the day
Answer : To ensure liquidity of the currency
Which country had to drop the Currency Board Arrangement due to the difficulties faced on the monetary front?
a. Brazil
b. Argentina
c. Mexico
d. Russia
Answer : Argentina
Which of the following documents is a shipping document?
a. At Sight Bill of Exchange
b. Usance Bill of Exchange
c. Bill of Lading
d. Bill of Entry
Answer : Bill of Lading
What’s the validity period of a cheque?
a. 2 Months
b. 3 Months
c. 6 Months
d. 12 Months
Answer : 3 Months
Which of the following financial instruments is most widely used?
a. Cheque
b. Demand Draft
c. Fixed Deposit Receipt
d. Promissory Note
Answer : Fixed Deposit Receipt
Which of the following types of cheques can be endorsed?
a. Bearer Cheques
b. Cheques payable to the order
c. Specially Crossed Cheques
d. Account Payee cheques
Answer : Cheques payable to the order
Which of the following Mortgages is also known as Equitable Mortgage?
a. Mortgage by Deposit of Title Deeds
b. English Mortgage
c. Balloon Mortgage
d. Simple Mortgage
Answer : Mortgage by Deposit of Title Deeds
Which of the following charges is most convenient to be created?
a. Which type of endorsement excludes the liability of the endorser?
b. Hypothecation
c. Simple Mortgage
d. Equitable Mortgage
Answer : Hypothecation

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