Q2.What is the age limit for minors to operate savings account in India?
Answer : Option BExplaination / Solution:
Minors above the age of 10 years and who can sign uniformly. This account will be opened in the sole name of the minor.
Q3.Under which Act is Cheque & Demand Draft is defined?
Answer : Option AExplaination / Solution:
Cheque and Demand Draft comes under Negotiable Instruments Act, 1881. A Negotiable Instrument means a promissory note, bill of exchange, demand draft or cheque payable either to order or to bearer.
Answer : Option AExplaination / Solution:
LTV stands for - Loan to Value
A loan to value (LTV) ratio is a number that describes the size of a loan compared to the value of the property securing the loan.
Lenders and others use the ratio to understand how risky a loan is, and it can be used for approving loans or requiring mortgage insurance. A higher LTV ratio suggests more risk because the assets behind the loan are less likely to pay off the loan as the LTV ratio increases.
Answer : Option EExplaination / Solution:
Cheque written by drawer and dated at some point in past is called as the ante-dated cheque.
Example- if drawer writes a cheque on 1st February but he put the date 1st January. This type of cheque is called antedated cheque.
Q6.Which of the following is 'material alteration' of a negotiable instrument?
Answer : Option AExplaination / Solution:
Converting an order cheque into bearer cheque is the material alteration of a negotiable instrument.
Hence Option A is correct
Q7.Which of the following bank has launched India's first Aadhaar enabled ATM?
Answer : Option DExplaination / Solution:
DCB Bank has launched Bengaluru’s first ATM that accepts Aadhaar number and Aadhaar fingerprint instead of ATM/Debit Card and PIN to dispense cash.
Answer : Option DExplaination / Solution:
Real Estate Investment Trusts (REITs)
A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, ranging from office and apartment buildings to warehouses, hospitals, shopping centers, hotels and even timberlands.
Answer : Option DExplaination / Solution:
Withdrawals from PPF account. There is a lock-in period of 15 years and the money can be withdrawn in whole after its maturity period. However, pre-mature withdrawals can be made from the end of the sixth financial year from when the commenced.