Banking | Testing | Mock Test

1
How many articles are included in Uniform Rules for Collection for Documentary Credits?
a. 24
b. 25
c. 26
d. 27
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : 26 [/bg_collapse]
2
How many categories of Exchange Rate Arrangements are classified by IMF?
a. 2
b. 3
c. 4
d. 5
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : 3 [/bg_collapse]
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
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : To ensure liquidity of the currency [/bg_collapse]
4
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
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Argentina [/bg_collapse]
5
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
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Bill of Lading[/bg_collapse]
6
What’s the validity period of a cheque?
a. 2 Months
b. 3 Months
c. 6 Months
d. 12 Months
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : 3 Months[/bg_collapse]
7
Which of the following financial instruments is most widely used?
a. Cheque
b. Demand Draft
c. Fixed Deposit Receipt
d. Promissory Note
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Fixed Deposit Receipt[/bg_collapse]
8
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
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Cheques payable to the order[/bg_collapse]
9
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
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Mortgage by Deposit of Title Deeds [/bg_collapse]
10
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
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Hypothecation [/bg_collapse]