Class 12 Finance MCQ Chapter 13 Modern Banking Services Solutions in English Medium to each chapter is provided in the list so that you can easily browse through different chapters Class 12 Finance MCQ Chapter 13 Modern Banking Services Question Answer and select need one. Class 12 Finance MCQ Chapter 13 Modern Banking Services Solutions Download PDF. AHSEC Class 12 Banking Multiple Choice Solutions.
Class 12 Finance MCQ Chapter 13 Modern Banking Services
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 12 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 MCQs Solutions for All Chapters, You can practice these here.
Modern Banking Services
Chapter: 13
| MCQ |
1. What does a credit card allow its holder to do?
(i) Withdraw only cash.
(ii) Buy goods and pay later.
(iii) Only deposit money.
(iv) None of these.
Ans: (ii) Buy goods and pay later.
2. Which card can only be used if the account has sufficient balance?
(i) Credit card.
(ii) Debit card.
(iii) Prepaid card.
(iv) Smart card.
Ans: (ii) Debit card.
3. E-banking requires which of the following for access?
(i) Mobile phone.
(ii) Cheque book.
(iii) Internet connection.
(iv) ATM.
Ans: (iii) Internet connection.
4. Which of the following is a unique code used for ATM transactions?
(i) OTP.
(ii) MPIN.
(iii) PIN.
(iv) PUK.
Ans: (iii) PIN.
5. The full form of ATM is:
(i) Automatic Teller Machine.
(ii) Automated Teller Machine.
(iii) Automatic Transaction Machine.
(iv) Automated Transfer Machine.
Ans: (ii) Automated Teller Machine.
6. Which of the following is a disadvantage of E-banking?
(i) Convenient.
(ii) Low cost.
(iii) Internet fraud.
(iv) 24×7 service.
Ans: (iii) Internet fraud.
7. Which banking service is available 24×7 and allows customers to access accounts via smartphone apps?
(i) ATM.
(ii) Cheque.
(iii) Mobile banking.
(iv) Passbook.
Ans: (iii) Mobile banking.
8. Who is the owner of the asset in a lease contract?
(i) Lessee.
(ii) Banker.
(iii) Lessor.
(iv) Customer.
Ans: (iii) Lessor.
9. In a finance lease, the lease period covers:
(i) Less than economic life of asset.
(ii) The entire useful life of asset.
(iii) One month.
(iv) No fixed period.
Ans: (ii) The entire useful life of asset.
10. Who bears the risk of obsolescence in an operating lease?
(i) Lessee.
(ii) Lessor.
(iii) Banker.
(iv) Customer.
Ans: (ii) Lessor.
11. Which card debits the amount immediately from the account when used for a transaction?
(i) Debit card.
(ii) Credit card.
(iii) Smart card.
(iv) Prepaid card.
Ans: (i) Debit card.
12. Which of the following is NOT an advantage of ATM?
(i) 24×7 cash withdrawal.
(ii) Flexible withdrawals.
(iii) Need to visit the branch always.
(iv) Easy fund transfer.
Ans: (iii) Need to visit the branch always.
13. Which of these is a fund-based financial service?
(i) Stock broking.
(ii) Credit rating.
(iii) Mutual funds.
(iv) Merchant banking.
Ans: (iii) Mutual funds.
14. The primary feature of a finance lease is:
(i) Short-term lease.
(ii) Option to purchase by the lessee.
(iii) No maintenance required.
(iv) High lease rental.
Ans: (ii) Option to purchase by the lessee.
15. Which is a feature of operating lease?
(i) Non-cancellable.
(ii) High lease rental.
(iii) Lessee bears all risks.
(iv) Covers entire economic life.
Ans: (ii) High lease rental.
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