MONTESSORI CAMBRIDGE SCHOOL PATHANKOT
RECAP BANKING
Time:40 minutes CLASS XI M.M:25
1. What is the relationship of the Bank with customer when the bank hires out the safe deposit locker? 1
2. Which type of deposit account is suitable for business organizations? 1
a) Savings Account b) Current Account c) Recurring Account d) Demat Account
3. Retail Banking is also known by another popular name _________. 1
a) Buyers Banking b) Sellers Banking
c) Consumer Banking d) Individuals Banking
4. The relationship between a bank and a customer ceases on following cases except 1
a) The death, insolvency, lunacy of the customer b) When the customer invests in securities.
c) The customer closing the account i.e. Voluntary termination d) Liquidation of the company
5. Banks generally don’t pay interest on money deposited in ______. 1
a) Savings account b) Current account
c) Fixed deposit account d) Overdraft Account
6. _____________are NOT a part of the scheduled banking structure in India. 1
a) Money lenders b) Public sector banks
c) Private sector banks d) Regional rural banks
MONTESSORI CAMBRIDGE SCHOOL PATHANKOT
RECAP BANKING
Time:40 minutes CLASS XI M.M:25
1. What is the relationship of the Bank with customer when the bank hires out the safe deposit locker? 1
2. Which type of deposit account is suitable for business organizations? 1
a) Savings Account b) Current Account c) Recurring Account d) Demat Account
3. Retail Banking is also known by another popular name _________. 1
a) Buyers Banking b) Sellers Banking
c) Consumer Banking d) Individuals Banking
4. The relationship between a bank and a customer ceases on following cases except 1
a) The death, insolvency, lunacy of the customer b) When the customer invests in securities.
c) The customer closing the account i.e. Voluntary termination d) Liquidation of the company
5. Banks generally don’t pay interest on money deposited in ______. 1
a) Savings account b) Current account
c) Fixed deposit account d) Overdraft Account
6. _____________are NOT a part of the scheduled banking structure in India. 1
a) Money lenders b) Public sector banks
c) Private sector banks d) Regional rural banks
7. Assertion: Under Indian Contract Act, a contract with a lunatic is void 1
Reason: The lunatic being of unsound mind is not competent to comprehend the meaning of a contract.
a) Assertion is correct but reason is wrong
b) Both assertion and reason are correct
c) Both assertion and reason are wrong
d) Assertion is wrong but reason is correct
8. Banking Services provided to a common man is known as ______. 1
a) Wholesale Banking b) Retail Banking
c) Investment Banking d) Commercial Banking
9. The banker's duty is to ask clients withdrawing money to verify their identity______ 1
a) to improves its profit margin. b) to make the process easy.
c) to prevent fraudulent activity d) to prepare accounts and loans
10. Shubham is a businessman who deals in buying and selling computer parts . Shubham deals with lot of customers
daily and receives money from them as his transactions are mostly on cash basis. He also deals with different
suppliers and has to make frequent payments to them. As it becomes difficult from him to manage cash daily,
his friend Rahul advised him to open a bank account in ABC Bank. Name the type of account which will be opened
by Shubham in ABC Bank. 1
11. How married women is a special customer to bank. State two points to justify. 2
12. What is minor account and what are the requirements for opening a minor account? 3
13. Explain the Functions of Bank. 4
14. Explain the relationship between Banker and Customer. 6
7. Assertion: Under Indian Contract Act, a contract with a lunatic is void 1
Reason: The lunatic being of unsound mind is not competent to comprehend the meaning of a contract.
a) Assertion is correct but reason is wrong
b) Both assertion and reason are correct
c) Both assertion and reason are wrong
d) Assertion is wrong but reason is correct
8. Banking Services provided to a common man is known as ______. 1
a) Wholesale Banking b) Retail Banking
c) Investment Banking d) Commercial Banking
9. The banker's duty is to ask clients withdrawing money to verify their identity______ 1
a) to improves its profit margin. b) to make the process easy.
c) to prevent fraudulent activity d) to prepare accounts and loans
10. Shubham is a businessman who deals in buying and selling computer parts . Shubham deals with lot of customers
daily and receives money from them as his transactions are mostly on cash basis. He also deals with different
suppliers and has to make frequent payments to them. As it becomes difficult from him to manage cash daily,
his friend Rahul advised him to open a bank account in ABC Bank. Name the type of account which will be opened
by Shubham in ABC Bank. 1
11. How married women is a special customer to bank. State two points to justify. 2
12. What is minor account and what are the requirements for opening a minor account? 3
13. Explain the Functions of Bank. 4
14. Explain the relationship between Banker and Customer. 6
