Banking Awareness Quiz – Set 176

Hello Aspirants,
Welcome to Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.

1. If a customer deposits money with a bank then the customer becomes ______
   A. Borrower
   B. Lender
   C. Debtor
   D. Agent
   E. None of these
   
   Answer & Explanation

   B. Lender
   Explanation:
   If a customer deposits money with a bank then the customer becomes the lender.
   
   
2. If a customer deposits money with a bank then the banker becomes ______
   A. Borrower
   B. Lender
   C. Debtor
   D. Agent
   E. None of these
   
   Answer & Explanation

   A. Borrower
   Explanation:
   If a customer deposits money with a bank then the banker becomes a borrower.
   
   
3. ______ is the bailment of goods as security for payment of a debt or performance of a promise.
   A. Equitable Mortgage
   B. Pledge
   C. Bailment
   D. Legel Mortgage
   E. None of these
   
   Answer & Explanation

   B. Pledge
   Explanation:
   Pledge is the bailment of goods as security for payment of a debt or performance of a promise.
   
   
4.  A ______ is the delivery of goods by one person to another for some purpose.
   A. Equitable Mortgage
   B. Pledge
   C. Bailment
   D. Legel Mortgage
   E. None of these
   
   Answer & Explanation

   C. Bailment
   Explanation:
   A bailment is a delivery of goods by one person to another for some purpose.
   
   
5. When a bank grants loan or other credit facilities to the customer then the Customer is ________
   A. Borrower
   B. Lender
   C. Debtor
   D. Agent
   E. None of these
   
   Answer & Explanation

   C. Debtor
   Explanation:
   When a bank grants loan or other credit facilities to the customer then the Customer is Debtor.
   
   
6. When a bank grants loan or other credit facilities to the customer then the Banker is ____
   A. Borrower
   B. Creditor
   C. Debtor
   D. Agent
   E. None of these
   
   Answer & Explanation

   B. Creditor
   Explanation:
   When a bank grants loan or other credit facilities to the customer then the Banker is Creditor.
   
   
7. By taking physical possession of securities the bank becomes ________
   A. Bailor
   B. Creditor
   C. Debtor
   D. Bailee
   E. None of these
   
   Answer & Explanation

   D. Bailee
   Explanation:
   By taking physical possession of securities the bank becomes bailee
   
   
8. When a customer gives his/her valuables, Securities to the bank for safe keeping then the customer became the _______
   A. Bailor
   B. Creditor
   C. Debtor
   D. Bailee
   E. None of these
   
   Answer & Explanation

   A. Bailor
   Explanation:
   When a customer gives his/her valuables, Securities to the bank for safe keeping then the customer became the bailor.
   
   
9. When the banker gives a safe deposit locker to the customer then the banker will become the _____
   A. Bailor
   B. Creditor
   C. Debtor
   D. Bailee
   E. Licensor
   
   Answer & Explanation

   E. Licensor
   Explanation:
   When the banker gives a safe deposit locker to the customer then the banker will become the Licensor.
   
   
10. When the banker gives a safe deposit locker to the customer then the customer will become the _____
    A. Bailor
    B. Creditor
    C. Debtor
    D. Bailee
    E. Licensee
    
    Answer & Explanation

    E. Licensee
    Explanation:
    When the banker gives a safe deposit locker to the customer then the customer will become the Licensee.