Class 11 Finance MCQ Chapter 12 Bank Customer and Banking Ombudsman Solutions in English Medium to each chapter is provided in the list so that you can easily browse through different chapters Class 11 Finance MCQ Chapter 12 Bank Customer and Banking Ombudsman Question Answer and select need one. Class 11 Finance MCQ Chapter 12 Bank Customer and Banking Ombudsman Solutions Download PDF. AHSEC Class 11 Banking Multiple Choice Solutions.
Class 11 Finance MCQ Chapter 12 Bank Customer and Banking Ombudsman
Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. AHSEC Class 11 Finance Objective Type Solutions are part of All Subject Solutions. Here we have given HS 1st Year Banking Multiple Choice Question and Answer, HS First Year Banking MCQ Solutions for All Chapters, You can practice these here.
Bank Customer and Banking Ombudsman
Chapter: 12
| MCQ |
1. What is the origin of the term ‘customer’?
(i) Latin.
(ii) English.
(iii) French.
(iv) Greek.
Ans: (ii) English.
2. Which of the following is NOT considered a banking transaction?
(i) Depositing money.
(ii) Withdrawing money.
(iii) Purchasing a house.
(iv) Transferring funds between accounts.
Ans: (iii) Purchasing a house.
3. A person who has an account with a bank is generally considered:
(i) A shareholder of the bank.
(ii) A customer of the bank.
(iii) An investor of the bank.
(iv) A borrower of the bank.
Ans: (ii) A customer of the bank.
4. The view that the duration of dealings between the banker and the customer is essential is called:
(i) Duration theory.
(ii) Regularity theory.
(iii) Transaction theory.
(iv) Habitual theory.
Ans: (i) Duration theory.
5. According to Dr. H.L. Hart, a customer is:
(i) A person who opens a savings account.
(ii) A person who has an account with a banker or for whom a banker habitually undertakes to act.
(iii) A person who borrows loans from a bank.
(iv) A person who only deposits money in a bank.
Ans: (ii) A person who has an account with a banker or for whom a banker habitually undertakes to act.
6. Which of the following can be considered a customer of a bank?
(i) Only an individual person.
(ii) A firm, joint stock company, society, or any separate legal entity.
(iii) Only a company.
(iv) Only a society.
Ans: (ii) A firm, joint stock company, society, or any separate legal entity.
7. Who are considered general customers of a bank?
(i) Minors.
(ii) Illiterate persons.
(iii) Competent individuals who can enter into a contract under the Indian Contract Act.
(iv) Partnership firms.
Ans: (iii) Competent individuals who can enter into a contract under the Indian Contract Act.
8. Which of the following is considered a special type of bank customer?
(i) Minor.
(ii) Illiterate person.
(iii) Joint account holder.
(iv) All of the above.
Ans: (iv) All of the above.
9. Which category of customer can enter into a contract under the Indian Contract Act?
(i) Special customer.
(ii) General customer.
(iii) Minor.
(iv) Illiterate person.
Ans: (ii) General customer.
10. Which of the following is NOT typically considered a special type of bank customer?
(i) Minor.
(ii) Illiterate person.
(iii) Competent adult.
(iv) Partnership firm.
Ans: (iii) Competent adult.
11. For special customers, what is required when opening a bank account?
(i) No precautions are necessary.
(ii) The bank must take necessary precautions while dealing with them.
(iii) Special treatment is not required.
(iv) They can only open joint accounts.
Ans: (ii) The bank must take necessary precautions while dealing with them.
12. According to the Indian Majority Act, 1875, a minor is a person who:
(i) Has not completed the age of 16 years.
(ii) Has not completed the age of 18 years.
(iii) Has completed the age of 18 years.
(iv) Is under the care of a guardian till 21 years.
Ans: (ii) Has not completed the age of 18 years.
13. Under the Indian Contract Act, 1872, a contract entered into by a minor is:
(i) Voidable at the discretion of the minor.
(ii) Void except for contracts concerning necessaries of life.
(iii) Valid if approved by a guardian.
(iv) Voidable at the discretion of the bank.
Ans: (ii) Void except for contracts concerning necessaries of life
14. Who can operate a bank account opened in the name of a minor?
(i) Only the minor.
(ii) Only the guardian.
(iii) The minor jointly with the guardian.
(iv) The minor with the approval of the bank.
Ans: (iii) The minor jointly with the guardian.
15. In case of the death of the minor, who will receive the deposit money?
(i) The minor’s legal heir.
(ii) The guardian of the minor.
(iii) The minor’s appointed representative.
(iv) The bank will keep the money.
Ans: (ii) The guardian of the minor.
