CCC Question Answers MCQs on Financial Literacy in English

41. PAN number is required for

a) Deposits less than Rs.50,000/-

b) Deposits in excess of Rs.1 lac

c) Deposits Rs.50,000/- & above

d) All transactions

42. TDS means

a) Time Deposit Scheme

b) Total Deposit Scheme

c) Tax Deducted at Source

d) None of above

43. Maximum amount of Cheque

a) 100 crore

b) No limit

c) 1 crore

d) None of above

44. Bank draft is issued by

a) Private Sector Banks

b) Regional Rural Banks

c) Public Sector Banks

d) All of above

45. Self Help Group involves

a) Group of 5 to 20 people

b) Regular saving habits

c) Inter-lending within the group members

d) All of above

46. Payment of cheque can be stopped by

a) Beneficiary

b) Nominee

c) Drawer of cheque

d) All of above

47. Account payee cheques can be paid

a) At cash counter of Bank

b) At ATM

c) By deposit in Bank account

d) None of above

48. In Recurring Deposits,

a) a fixed sum is deposited every month

b) period of deposit is a fixed tenure

c) interest is paid at FDR rate

d) All of above

49. While making nomination, signature of nominee is required on

a) Account Opening Form

b) Nomination form

c) Affidavit

d) None of above

50. Interest on Savings Bank Deposits is paid

a) Every month

b) Quarterly

c) Half yearly

d) Yearly