Opening a Bank Account

Q.

What is the full form of BSR?

Q.

Shortcut key to create a new document

Q. Which of the following bank accounts is opened by businessmen and why?

1. Savings bank accounts, as they provide regular interest on deposits
2. Current bank accounts, as they provide regular interest on deposits
3. Recurring deposit accounts, as they help in saving for a future date through regular deposits on a monthly basis
4. Current bank accounts, as they provide unlimited transactions as required in business

Q.

Is provision for depreciation a reserve?

Q. Which type of bank account do businessmen who have a large number of business transactions with banks use?

1. Savings bank account
2. Current account
3. Recurring deposit account
4. Fixed deposit account

Q. For which of the following accounts do you get a cheque book, a pass book, and a pay-in-slip from the banks?

1. Fixed deposit account
2. Recurring deposit account
3. Savings bank account
4. Current account

Q. Arrange the following steps of opening a bank account in the correct order.

1. Recive document
2. Verification
3. Choice of bank
4. Application
5. Form submission

Q.

Write some points on the Post office in India.

Q. Which of the following bank accounts are used for the purpose of saving and conducting frequent financial transactions respectively?

1. Fixed deposit accounts
2. Recurring deposit accounts
3. Savings bank accounts
4. Current accounts

Q. Which of the following is the first step towards opening of bank account?

1. Verification
2. Document received
3. Application submission
4. Choice of bank

Q. Find the correct types of bank accounts for the purposes mentioned below.

1. Fixed deposit
2. Recurring deposit
3. Savings account
4. Current account

Q. Which of the following is the correct step for opening a bank account?

1. Choice of bank, account opened, submission, verification, documents received, application
2. Choice of bank, application, submission, verification, documents received, account opened
3. Choice of bank, application, documents received, submission, account opened, verification
4. Account opened, choice of bank, application, submission, verification, documents received

Q.

What are depository receipt fees?

Q. Assertion - To expand banking services, the Indian Postal Department has started a new bank, called the Postal Bank of India.

Reason - It is easy for Postal Bank of India because it will use the existing post office networks of the country to deliver various banking services.

1. Assertion is correct
2. Assertion is wrong
3. Both assertion and reason are wrong
4. Reason is correct

Q. Aman wants to buy a motor bike worth Rs. 60000. He does not have enough money, so he plans to buy it after one year. He has a regular income, so he decides to deposit Rs. 5000 every month.

What type of bank account is appropriate for such type of a transaction?

1. Savings bank account
2. Current account
3. Recurring deposit account
4. Term deposit account

Q. After the choice of the bank, which of the following is the next step towards opening a bank account?

1. Verification
2. Submission
3. Application
4. Document receiving

Q. For which of the following types of bank accounts do banks provide us with receipts only and not with cheque books and pass books?

1. Current accounts
2. Savings bank accounts
3. Recurring deposit accounts
4. Fixed deposit accounts

Q. Which of the following bank accounts are opened for a fixed period of time for depositing a particular sum of money and a certain amount can be received after maturity?

1. Fixed deposit account
2. Recurring deposit account
3. Savings bank account
4. Current account

Q. Suppose Nalin and Praveen are brothers and they want to open a bank account together, what type of savings bank account do they need to open?

1. Partnership account
2. Joint account
3. Fixed period account
4. They cannot open a bank account together.

Q. One can avail loan facilities from a bank without opening an account with it.

1. False
2. True

Q. What happnes after the application form to open an account is submitted in the bank?

1. Choice of bank
2. Verification
3. Bank account opening
4. Document receiving