09/05/2019 Click Here - Chapter Quiz's - Term Deposits - ll

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Started on Tuesday, 30 April 2019, 1:57 AM

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Completed on Tuesday, 30 April 2019, 2:17 AM
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Question 1 Following are some of the details to be provided in the AOF while opening a TD account:
Correct

Mark 1.00 out of Select one:

1.00
a. Customer Details, Deposit Details

b. Payment Details, Payout Details, Receipt option

c. Nomination and Terms and conditions

d. All the above      

Question 2 Applicant Name, Joint Applicant’s name, Mode of operation are the particulars which are contained in the 
Correct

Mark 1.00 out of Select one:

1.00
a. Payment Details of the AOF

b. Customer Details of the AOF 

c. Nomination Details of the AOF

d. Payout Details of the AOF

Question 3 Tejuswi and Priyaranjan have a joint FD account with Power Bank.  Tejuswi wants his daughter to be nominated for the
Correct account and Priyaranjan needs his Son to be nominated for the account.  How many nominations can be made?
Mark 1.00 out of
1.00 Select one:
a. Since the account is a joint account, two nominations can be made and hence both account holders can
nominate as per requirement.

b. Though the account is a joint account, nomination can be only one and hence either of the two requests can only
be entertained. 

c. There is no limit for either inclusion or exclusion of nominations.  Hence either one, two or more than two can be
nominated to any account.

d. FDs do not have the nomination facility.

Question 4 Kamlesh wants to open a Term Deposit Account with Pritam Bank for Rs. 3,00,000/-.  The bank has different variants
Correct under the TD scheme viz Interest Compounded annually, Interest compounded quarterly; Interest compounded Half
Mark 1.00 out of yearly.  Which of the variants would fetch more interest to the customer?
1.00

Select one:
a. Interest compounded annually is beneficial to the customer

b. Interest compounded half yearly is beneficial to the customer

c. Interest compounded quarterly  is beneficial to the customer 

d. All variants are more or less similar and customer is benefitted through either of them.

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Question 5 In an FD, under interest pay out option if a customer wants his account with another bank to be credited, which are the
Correct details to be furnished by him/her to the Remitting Bank?
Mark 1.00 out of
1.00 Select one:
a. Account Number, Amount and Bank Name

b. Beneficiary Details, IFSC code of the beneficiary branch

c. A cheque duly filled and signed, by the applicant, drawn in favour of the bank

d. All the above.     

Question 6 Maintenance of a Term Deposit precisely contains the following stages

Correct

Mark 1.00 out of Select one:

1.00
a. It reveals the Interest earned and Tax details and thereby information passed on to the customer.

b. Make TAX payment to the Income Tax authorities

c. It involves opening of a new Term Deposit Account

d. Both a and b are correct.               

Question 7 Following are the options available to a customer during renewal of a Term Deposit:
Correct

Mark 1.00 out of Select one:

1.00
a. Renew the TD along with the interest, for any period required therein

b. Renew the TD for the original principal TD amount.

c. Renew the TD for an amount less than the original principal amount.

d. All the above. 

Question 8 Which of the following is correct?

Correct

Mark 1.00 out of Select one:

1.00
a. A customer cannot premature close an FD

b. A customer cannot make further deposits in to an FD after it is opened 

c. An FD is a transferrable instrument

d. All the above are correct

Question 9 Details of a TD of Gregory D’Souza with Safe Bank is as under:

Correct
Amount: Rs. 3,00,000/- ; Date of Deposit:  1.4.2016 for three years.
Mark 1.00 out of
1.00 ROI paid by the bank:  9.75%

Particulars           At the time of opening FD            At the time of breaking the FD

 Upto 1 year                        8%                                                          8.5%

 UPto 2 years                      9%                                                          9.5%

 Upto 3 years                      9.75%                                                     10%
Now Gregory wants to premature close the FD on 1.5.2017.  What would be the rate applicable, if there is no penalty
clause applicable at Safe Bank?

Select one:
a. 8.5%

b. 9%

c. 8% 

d. No interest will be paid

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Question 10 In case of a premature closure of a TD the Bank officer must check for
Correct

Mark 1.00 out of Select one:

1.00
a. Existence of Lien on the deposit

b. Interest clause applicable for the TD

c. Penalty if any applicable.

d. All the above.     

Question 11 Which option is not a part of a Term Deposit application form?

Correct

Mark 1.00 out of Select one:

1.00
a. Customer Details

b. Payment Details

c.
Fees Structure

d. Nomination

Question 12 CIF stands for Customer Information File number, and is the unique number allocated to each customer.
Correct

Mark 1.00 out of Select one:

1.00
a. True 

b. False

Question 13 A  printed receipt is generated for an RD Account since it is a Term Deposit Account.
Correct

Mark 1.00 out of Select one:

1.00
a. True 

b. False

Question 14
Overdraft limit given to a customer on a Fixed deposit is generally __of the Deposit D amount .
Correct

Mark 1.00 out of

1.00
Select one:
a. 20%

b. 100%

c. 80%

d.
As may be decided by the respective banks


Question 15
Tax is deducted on a Term Deposit, if the threshold of interest paid in a Financial Year exceeds the following amount:
Correct

Mark 1.00 out of

1.00
Select one:
a. 2000

b. 5000

c. 10000 

d. 15000

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Question 16
Karthik has a Term Deposit of INR 5,00,000 and savings account with a balance of INR 78,000 with Axis bank at two
Correct
different  branches. The interest generated on these 2 accounts is INR 12000.  Is TDS applicable to him?
Mark 1.00 out of
1.00

Select one:
a.
TDS is applicable since the threshold is calculated for deposits held by the customer at the Bank
Level

b. TDS is not applicable since the threshold is calculated for deposits held by the customer at the branch Level

c. It differs from bank to bank and left to the discretion of the individual management of the bank

d. It depends on RBI guidelines issued from time to time

Question 17 If a customer wants to close his/her fixed deposit, a banker should primarily check for a lien marked on the TD.
Correct

Mark 1.00 out of Select one:

1.00
a. True 

b. False

Question 18
For premature closure of a Term Deposit, the banker needs to check the following
Correct

Mark 1.00 out of

1.00
Select one:
a. If a lien is marked in the account

b. Whether a loan is availed against the fixed deposit

c. Any penalty is required to be levied on such deposit

d.
All the above


Question 19 A nominee for a TD is always a minor and he is registered without guardian details.
Correct

Mark 1.00 out of Select one:

1.00
a. True

b. False 

Question 20
Mrs Verma has a Term Deposit of INR 2,00,000 with Canara bank.  She requests for a Credit card against her deposit.
Correct
 What is the limit for her credit card if the margin maintained by the bank is 40%?
Mark 1.00 out of
1.00

Select one:
a.
1,60,000

b. 16,000

c. 2,00,000

d. 1,00,000

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Question 21
1.   Animesh has the account balance as below;
Correct
Account balance  -  INR 30,000 (Cr)
Mark 1.00 out of
1.00 Overdraft limit      -  INR 50,000
He wants to withdraw INR 50,000 from his account. What would be the Effective available balance in the OD after the
withdrawal?

Select one:
a. 20,000

b.
30,000

c. 40,000

d. 50,000

Question 22
Animesh has the account balance as below;
Correct
Account balance - INR 30,000  (Cr)
Mark 1.00 out of
1.00 Overdraft limit-      INR 50,000

He withdrew INR 50,000 from his account and the Effective available balance in the OD after withdrawal was INR 30,000.
 However, due to non-submission of his current asset details, the bank withdrew the Overdraft facility granted to him. 
Animesh after one week, deposited INR 80,000 in his account.  What is the Effective available  balance in Animesh’s 
account now?

Select one:
a.
60,000

b. 80,000

c. 20,000

d. 30,000

Question 23
Mrs. Sharma has kept a Term Deposit of INR 1,00,000 with Regal bank at 9 % p.a. After maturity the deposit can be
Correct
renewed with
Mark 1.00 out of
1.00

Select one:
a. Principal amount

b. Principal + interest

c. Lesser amount than principal

d. All of the above 

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Question 24
Mr Vinod has kept a Term Deposit of INR 1,00,000 with Ratan bank on 1st Oct 2017 for a period of one year.  He advised
Correct
the bank to renew the deposit on maturity. What interest rate will be applicable for the deposit renewed?
Mark 1.00 out of
1.00

Select one:
a. Same rate as was paid as on 1st Oct 2017

b. New revised rate as on date of maturity is applicable 

c.
The matter may be referred to RBI for necessary instructions

d. No interest can be paid on the deposit now renewed.

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