EXAMDRAGON Preparation : Current Account

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Good evening aspirants, EXAMDRAGON team has prepared a special article for all CBO aspirants on Current Account. Hope you all find this article informative.

Chapter 7: Current Account

1.Current account is a form of?

A Time deposit B Demand deposit
C Term deposit D Fixed Deposit

2.In the term ‘CASA’, CA stands for ?

A Current Asset B Current Account
C Cumulative Amount D Cost Amount

3. Which one of the following official cannot authorize a current account

A Branch Manager B Divisional Manager
C Authorised official D None of the above

4.A proprietory firm wants to open current account with our bank. They do
not have account with any other bank? Which of the following document
is not required to open the ac?

A Proprietor’s ID Proof
B Firm’s Address proof
C Undertaking stating that they donot have any credit facilities with other bank.
D NOC from other banks

5. Immediately on the opening of an account a letter of thanks , is to be
sent to the customer’s address for the following reason?

A Just to say thanks to customer
B To get more business
C To ensure that the address is
not fake
D None of the above

6.A businessman intends to open a CA , but the signature is in such a
manner that it can be forged easily. What are the available remedies for
the branch?

A The branch can open account in a routine manner.
B The branch can open account after obtaining undertaking from the applicant, that he will draw cheque in the presence of an official in the branch.
C The branch can refuse to open
the account
D B & C

7.Who can open a current account?

A Individuals B Firms
C HUF D All of these

8.Which one of the following can open a current account?

A Public limited company B Private limited company
C Trusts D All of these

9.What is the current R.O.I of current account

A No interest is allowed B 3.5%
C 4.5% D None of the above

10.An account is treated as inoperative if there are no customer or third
party induced transactions in the last?

A 1 year B 2 years
C 5 years D 10 years

11. An account is treated as UNCLAIMED Deposit, if there are no customer
or third party induced transactions in the last?

A 1 year B 2 years
C 5 years D 10 years

12. Nomination facility is available only to

A Individual accounts
B Proprietory concerns
C Limited companies
D A & B

13. Nomination in case of current account can be made infavour of how
many persons ?

A There is no such restriction
B Only one person
C Only two persons
D Facility not available for CA

14.Which one of the following is not a form of legal representation?

A Succession Certificate
B Letter of Administration
C Family tree
D Probate

15.A succession certificate may be granted by a

A A District judge
B High court
C Both
D None of the above

16.A succession certificate is not applicable to

A Articles in safe deposit
B Ornaments pledged
C Both
D None of the above

17. A succession certificate is valid

A In the district where it is issued

B In the State where it is issued

C All over the country

D None of the above


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