Important Banking Awareness Quizzes (Topic Wise) for Upcoming IBPS Exams 2017

Important Banking Awareness Quizzes (Topic Wise) for Upcoming IBPS Exams 2017:
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 Exams 2017 can make use of it.

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Cheque and Its Type


1. A cheque is defined under__________.

Reserve Bank of India Act, 1934
Negotiable instrument Act, 1881
Banking Regulation Act, 1949
Payment and Settlement Systems Act, 2007
Coinage Act, 2011
1). A cheque is defined under section 6 of Negotiable instrument Act, 1881.
Answer: B

2. Courtesy amount in a cheque stands for __________.

Money value
Amount written in words
Amount written in figures
Amount written by bank officials
Both a and d
Answer: C

3. __________ is called the Banker’s cheque.

Bearer Cheque
Pay order
Demand draft
Debit Card
Crossed cheque
Answer: C

4. What is the validity of Demand Draft?

30 days
45 days
60 days
90 days
180 days
4). Both cheque and DD have validity 3 months.
Answer: D

5. __________ Signs on the face of the cheque.

Concerned Bank
5). Drawer – A person who issues the cheque and also the one who signs the cheque. Drawee : Bank, Payee : recipient of the cheque amount.
Answer: C

6. If the signature of the drawer of a cheque is not genuine, such a cheque is called __________.

Illegal cheque
Post dated cheque
Unavailable cheque
Stale cheque
Forced cheque
Answer: E

7. With reference to a cheque, which of the following is the ‘drawee bank’?

The endorsee’s bank
The endorser’s bank
The bank upon which the cheque is drawn
The payee’s bank
The bank that collects the cheque
Answer: E

8. __________ is a 9-digit code which actually shows whether the cheque is real or fake.

None of these
8). Magnetic ink character recognition code (MICR Code) is a character-recognition technology used mainly by the banking industry to ease the processing and clearance of cheques and other documents.
Answer: D

9. What is stale cheque?

Invalid cheque
A cheque which has completed three months from its date of issue
Soiled cheque
Mutilated cheque
A post dated cheque
9). If person not presented the cheque within three months to the issue branch, the cheque is known as Stale Cheque.
Answer: B

10. When the word Bearer is cancelled on a cheque then it is called __________ cheque.

10).When the word "or bearer" printed on the cheque is cancelled and and the word 'order' may be written on the cheque, the cheque is called an order cheque. An order cheque is one which is payable to a particular person. The payee can transfer an order cheque to someone else by signing his or her name on the back of it.
Answer: B

11. The validity of Travelers Cheque __________.

3 months
6 months
2 months
1 year
No expiration
11).Travelers Cheque is an instrument issued by a bank for remittance of money from one place to another. It can be accepted everywhere and available in many denominations.
Answer: E

12. If neither the word “bearer “ nor “order” is written on a cheque, payment will be made by treating it as __________ cheque.

Answer: B

13. Cheque truncation means __________.

Scanning of the cheques and transmission of electronic image instead of physical cheque in the clearing cycle.
Scanning cheque
Checking the cheque
Rejecting the cheque
None of these
13).Truncation is the process of stopping the flow of the physical cheque issued by a drawer at some point by the presenting bank en-route to the paying bank branch.
Answer: A

14. If cheque is issued by a bank in the same city as the payee, the cheque will be called __________.

Local cheque
Outstation cheque
Normal cheque
At par cheque
Special cheque
Answer: A

15. A cheque that can be paid at any branch of the concerned bank without any additional charge is known as __________.

At par cheque
Special cheque
Multi city cheque
Both a and b
Both a and c
15).At-par cheque or Multi city cheque means the cheques are payable in the branches mentioned, without any extra collection charges.
Answer: E

Click here for Topic wise Discussion on Quantitative Aptitude Day-1 

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