Banking Laws Solved MCQs

Here, we are sharing very important “Banking Laws Solved MCQs”.

1. During the documentary credit, which of the following, banks is usually a foreign bank…?

A. Advising bank
B. Confirming bank
C. Issuing bank
D. Paying bank
E. None of these

2. At the time of delivery and possession of goods under hire-purchase, which of the following is issued by the bank…

A. Delivery memo
B. Physical delivery of goods
C. Delivery order
D. Delivery note
E. None of the above

3. How many number parties are involved in a Cheque during bankings process?

A. Five
B. Four
C. Three
D. Two

4. Which one the following is entrusted responsibilities of executing power…?

A. Executor
B. Heir
C. Agent
D. Lawyer
E. All of above

5. Which one of the following is payable as soon as it is presented for payment, in letter of credit…

A. Time draft
B. Demand draft
C. Order draft
D. Sight draft
E. None of these

6. The Negotiable Instrument Act 1881, Which of the following is NOT defined…?

A. Notary public
B. Material alteration
C. Delivery
D. Bank
E. All of above

7. A banker defined as“Any person carrying on a bonafide banking business in the United Kingdom is a banker” which bankers said that?

A. Negotiable Instruments Act, 1881
B. Finance Act, 1915
B. United Kingdom’s Version
C. American Version
D. None of these

8. Which one of the following is also called the Legal Mortgage…?

A. Non-equitable Mortgage
B. Un-registered Mortgage
C. Registered Mortgage
D. Equitable Mortgage

9. Mention the following bodies regulates the conduct of solicitors in England and Wales…?

A. Solicitors Regulation Authority
B. The Law Society
C. The Legal Services Commission
D. The Solicitors Society

10. Which one of the of the following accurately reflects the routes to qualification for barristers…

A. A law degree, Bar Professional Training Course and Training Contract
B. A law degree, Bar Professional Training Course and Pupillage
C. A law degree, Legal Practice Course and Training Contract
D. A law degree, Legal Practice Course and Pupillage

11. Mention one of the following persons cannot sit on a jury…

A. Legal professionals
B. Members of Parliament
C. Members of the police force
D. Those with a mental disorder

12. Which one of the following point is not a key quality for the appointment of magistrates?

A. Social awareness
B. Maturity and sound temperament
C. High-level education
D. Good character
E. Both A & C

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