Banking Laws Solved MCQs

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

Answer - Click Here:
A

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

Answer - Click Here:
D

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

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

Answer - Click Here:
C

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

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

Answer - Click Here:
A

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

Answer - Click Here:
D

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

Answer - Click Here:
A

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

Answer - Click Here:
B

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

Answer - Click Here:
C

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

Answer - Click Here:
A

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

Answer - Click Here:
B

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

Answer - Click Here:
D

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

Answer - Click Here:
C