Question 1

Fine in case of cheque bouncing can go up to _________.

Options :

A : twice the cheque amount

B : cheque amount

C : thrice the cheque amount

D : Rs. 5 lakh

Answer: A

Question 2

Joint account with a resident is permitted in case of

Options :

A : NRO A/c

B : FCNR

C : NRE

D : All of the above

Answer: A

Question 3

The principle of _____________ ensures that an insured does not profit by insuring with multiple insurers

Options :

A : Subrogation

B : Contribution

C : Co-insurance

D : Indemnity

Answer: B

Question 4

In India, the interest rate of a floating rate security is linked to ___________.

Options :

A : MIBOR

B : CIROB

C : Repo rate

D : Reverse Repo Rate

Answer: A

Question 5

Mahesh has invested Rs. 72,000/- @ 5% p.a. in a bank deposit. After 7 years ROI changes 5% p.a. computed half yearly. After further period of 3 years rate again changes to 6% p.a. compounded quarterly. What will he get after 15 years of commencement?

Options :

A : Rs. 1,48,251/-

B : Rs. 1,58,240/-

C : Rs. 1,40,000/-

D : Rs. 1,55,000/-

Answer: B

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