Start learning →

IBPS RRB Office Assistant Banker-Customer Relationship — practice questions

Explore 74 free Banker-Customer Relationship questions in IBPS RRB Office Assistant Banking Awareness. Open each question or exercise to read its content, reference answers and available explanation.

Practise Banker-Customer Relationship with Quill →

Banker-Customer Relationship questions and exercises with answers

Showing questions 1–30 of 74.

For an ordinary deposit, the banker-customer relationship is:Read the answer and worked solution →While collecting a cheque for a customer, the bank acts as:Read the answer and worked solution →Match each function of moneyRead the answer and worked solution →Sort each item on a bank balance sheetRead the answer and worked solution →Order the rounds of credit creationRead the answer and worked solution →True or false: money and banksRead the answer and worked solution →Key in the banking numberRead the answer and worked solution →Customer due diligence means identifying the customer and the:Read the answer and worked solution →Which document is an officially valid document?Read the answer and worked solution →A customer using a deemed OVD must give a current address OVD within:Read the answer and worked solution →A name change after issue still leaves a document valid if backed by a:Read the answer and worked solution →KYC records in digital form are held by the:Read the answer and worked solution →The unique code the registry assigns a customer is the KYC:Read the answer and worked solution →Who ensures the bank's overall compliance under the PML Act?Read the answer and worked solution →The Principal Officer may also be nominated as the Designated Director:Read the answer and worked solution →The names of both officers are communicated to RBI and:Read the answer and worked solution →V-CIP identifies a customer through a live interaction and:Read the answer and worked solution →A compliant V-CIP is treated as being on par with:Read the answer and worked solution →For a company, controlling ownership interest means more than:Read the answer and worked solution →Control includes the right to appoint the majority of the:Read the answer and worked solution →Beneficial owner identification is not needed for a customer that is:Read the answer and worked solution →Total credits to a small account in a financial year may not exceed:Read the answer and worked solution →Withdrawals and transfers from a small account in a month may not exceed:Read the answer and worked solution →A small account must be opened only at a branch linked to:Read the answer and worked solution →What does a bank obtain from a small account holder at opening?Read the answer and worked solution →Risk categorisation of a customer is kept:Read the answer and worked solution →Risk categorisation of accounts is reviewed at least once every:Read the answer and worked solution →KYC of a high risk customer must be updated at least once in:Read the answer and worked solution →KYC of a low risk customer must be updated at least once in:Read the answer and worked solution →KYC of a medium risk customer must be updated at least once in:Read the answer and worked solution →

Worked practice questions

For an ordinary deposit, the banker-customer relationship is:

  1. Debtor and creditor
  2. Agent and principal
  3. Trustee and beneficiary
  4. Bailor and bailee
Show answer and solution

Correct answer: A. Debtor and creditor

1. The question asks: For an ordinary deposit, the banker-customer relationship is. 2. Correct answer: Debtor and creditor. 3. On a deposit the bank is the debtor and the customer the creditor. _Source: BOI Quick Revision — General Banking & Financial Awareness (2020), Banker-Customer_

Open this question →

While collecting a cheque for a customer, the bank acts as:

  1. Debtor and creditor
  2. Agent and principal
  3. Trustee and beneficiary
  4. Lessor and lessee
Show answer and solution

Correct answer: B. Agent and principal

1. The question asks: While collecting a cheque for a customer, the bank acts as. 2. Correct answer: Agent and principal. 3. In cheque collection the bank acts as the customer's agent. _Source: BOI Quick Revision — General Banking & Financial Awareness (2020), Banker-Customer_

Open this question →

Match each function of money

Read exercise and reference answers
Matching pairs
  1. Left
    Medium of exchange
    Right
    Accepted in payment, so barter is not needed
  2. Left
    Unit of account
    Right
    Every price can be quoted in the same units
  3. Left
    Store of value
    Right
    Wealth can be held in it for future use
Instructions
Tap a function on the left, then tap what it means.
_Source: syllabus Macroeconomics XII Ch3 Money and Banking, 3.1 FUNCTIONS OF MONEY_

Open this exercise →

How to practise

  1. Choose a Banker-Customer Relationship question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

More Banking Awareness topics

RBI BasicsNPA & RecoveryNegotiable Instruments ActRBI Act & BR ActMonetary PolicyBasel Norms & CapitalFinancial InstitutionsDeposit Insurance