Table of Contents
Nomination Facility MCQs
Nomination Facility MCQs – Nominating a family member as a nominee for a bank account is referred to as bank account nomination. This is typically done to make sure that, in the terrible case of the account holder’s passing, the funds in the account are in the possession of the successor that the account holder has designated. According to the law, updating a nominee is not required. To further comprehend the subject, let’s look at some multiple-choice questions about nomination in bank accounts.
Download Nomination Facility MCQs with Case Study E-book:
How to Download Nomination Facility MCQs with Case Study E-book?
Step 1: Click on the download link. You will be redirected to Oliveboard’s FREE E-Books Page.
Step 2: Create a free Oliveboard account or login using your existing Oliveboard account details
Step 3: Download the book by clicking on the link presented on the page.
Sneak Peak into E-Book:
What’s there in the Nomination Facility MCQs with Case Study E-Book?
- Nomination facility is not available in.
Option A. Lockers in joint names.
Option B. Articles accepted for safe custody from more than one person.
Option C. Deposit account in joint names.
Option D. None of the above.
Ans – B. articles accepted for safe custody from more than one person.
2. In case of deposit account in more than one name the number of nominees can be.
Option A. One.
Option B. Two.
Option C. Three.
Option D. Not more than number of account holders.
Ans – A. one.
3. A depositor has appointed his minor son aged 12 years as nominee. He will be required.
Option A. To appoint a major as second nominee.
Option B. To appoint some major person as his nominee in place of minor.
Option C. Not to exercise any nomination at all.
Option D. To appoint a major person to receive payment on behalf of minor nominee in the event of death of depositor.
Ans – D. to appoint a major person to receive payment on behalf of minor nominee in the event of death of depositor.
4. A minor above the age of 15 years opened his individual savings account in his single name. in this account nomination facility is:
Option A. Not available as a minor cannot appoint an agent.
Option B. Available as minor has completed 14 years of age.
Option C. Available only if his father indemnifies the bank.
Option D. All of the above
Ans – A. not available as a minor cannot appoint an agent.
5. A literate depositor has exercised nomination in favour of his cousin. This nomination requires.
Option A. No objection certificate from his legal heirs.
Option B. Attestation by notary public.
Option C. Attestation by two witnesses.
Option D. None of the above.
Ans – D. none of the above.
6. A deposit was accepted with instructions ‘either or survivor ‘from two depositors A and B. A died before due date. B approaches the bank to cancel nomination earlier exercised by them. In this case:
Option A. Nomination once exercised is irrevocable.
Option B. It can be allowed as survivor can cancel, change or even exercise fresh nomination.
Option C. Nomination can‘t be cancelled as it requires consent of both the depositors.
Option D. All of the above
Ans – B. it can be allowed as survivor can cancel, change or even exercise fresh nomination.
- Over 10,000 Claims Accepted Under Vivad se Vishwas – I Scheme
- Minister Chandrasekhar at “South-South Knowledge Sharing Series”
- Institutional Financing Agencies Ebook for NABARD Grade A, Check
- NABARD Grade A Agriculture Notification 2023 Out – Download Notification PDF
- Maiden Joint Doctrine Review Conference – 2023
DOWNLOAD THE OLIVEBOARD APP FOR ON-THE-GO EXAM PREPARATION
- Video Lessons, Textual Lessons & Notes
- Topic Tests covering all topics with detailed solutions
- Sectional Tests for QA, DI, EL, LR
- All India Mock Tests for performance analysis and all India percentile
- General Knowledge (GK) Tests
Free videos, free mock tests, and free GK tests to evaluate course content before signing up!
| What is DEST and CPT in SSC CGL | SSC CGL Age Calculator |
| Bihar LRC Recruitment 2023 | RBI Grade B Study Material 2023 |
Sindhuja is a passionate content writer with a strong background in preparing for various state exams and defence examinations. Drawing on her own experiences as an aspirant, she brings valuable insights and expertise to her writing. With a keen understanding of exam patterns, syllabus, and effective study techniques, Sindhuja creates engaging and informative content to assist fellow aspirants in their preparation journey. Her dedication to accuracy and clarity ensures that candidates find convenience and reliability in her work. As a content writer, she aspires to empower others with the knowledge and guidance needed to excel in their respective exams and achieve their dreams.
Oliveboard Live Courses & Mock Test Series
