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NCC Bank: Advanced General Banking

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76 Questions

What year was the Money Laundering Prevention Act enacted?

2012

What is the primary focus of the manual regarding the skills of senior management?

Capacity development

What is the main topic of chapter 3 in the manual?

Opening and operating different bank accounts

Which Act is related to the evidence of bank records?

The Bankers' Books Evidence Act (1891)

What is the year of the Anti-terrorism Act?

2009

What is the primary focus of chapter 5 in the manual?

BACH, BACPS, Cash and vault managements

Which chapter is related to Fraud, Forgeries & Malpractices in General Banking?

Chapter 11

What is the full form of BFIU in the context of banking?

Bangladesh Financial Intelligence Unit

Which chapter covers Laws and Regulations Related to General Banking?

Chapter 10

What is the primary focus of Chapter 10?

Laws and Regulations Related to General Banking

Which chapter is related to the general laws and regulations of banking?

Chapter 10

What is the year of the Bank Companies Act, mentioned in the study material?

1991

Which Act is relevant to partnership, as mentioned in the study material?

The Partnership Act, 1932

What is the year of the Companies Act, mentioned in the study material, with amendments?

1994

Which Act is relevant to contracts, as mentioned in the study material?

The Contract Act, 1872

How many chapters are there in the study material on General Banking for NCC Bank Limited?

10

When does the relationship between a customer and a bank terminate?

All of the above

What is the ultimate objective of relationship banking?

To earn sustainable growth in banking business

What is the significance of customer service in the banking industry?

It is necessary for maintaining customer loyalty

What is the focus of relationship banking?

On managing relations among depositors, borrowers, and regulatory bodies

What is the outcome of relationship banking?

Long-term, mutually beneficial relationships

What is a Trust according to the Trust Act, 1882?

An obligation annexed to the ownership of property, arising out of confidence reposed in a person or group of persons

Who is the person who reposes or declares confidence in a trust?

The author of the trust

What is the instrument by which a trust is created?

A trust deed

What should a banker examine thoroughly when opening an account in the names of persons as trustees?

The trust deed

Who is the person who accepts the confidence in a trust?

The trustee

What is the role of an executor in a will?

To execute the will according to the testator's wishes

What is a letter of administration?

A court document appointing an administrator

What is the role of an administrator?

To manage the estate of a deceased person without a will

What is the primary duty of an executor or administrator?

To realize the assets of the deceased and pay off their debts

What is required of an executor before they can act on a will?

Obtain a probate from the court

What is a personal representative?

A person appointed by the court to manage the estate of a deceased person

What is required of an executor or administrator when opening a bank account?

Sign an account opening form and specimen signature card

What is the purpose of a letter of probate?

To confirm a will

What happens when a person dies without leaving a will?

The court appoints an administrator

Who is responsible for distributing the estate of a deceased person?

The executor or administrator

What aspect of risk management is particularly relevant to the skills of senior management?

Capacity development

What is the focus of chapter 6 in the manual?

Bills Collection and Remittance

How many areas are covered in the manual?

Twelve

What is the primary audience of the manual?

Senior bank executives

What type of issues are discussed in chapter 4 of the manual?

Negotiable Instruments

What is the primary focus of Chapter 10?

Laws and Regulations Related to General Banking

Which Act is relevant to contracts, as mentioned in the study material?

Negotiable Instrument Act, 1881

What is the primary focus of the chapter covering the Negotiable Instrument Act, 1881?

Laws and Regulations Related to General Banking

Which Act is relevant to the prevention of money laundering, as mentioned in the study material?

Money Laundering Prevention Act, 2012

What is the primary focus of the chapter covering the Anti-terrorism Act, 2009?

Laws and Regulations Related to General Banking

What is primarily discussed in chapter 10 of the manual?

Laws and Regulations Related to General Banking

What is the primary focus of chapter 10 in the study material?

Laws and Regulations Related to General Banking

Which chapter is related to general laws and regulations of banking?

Chapter 10: Laws and Regulations Related to General Banking

What is the topic of chapter 10 in the manual for NCC Bank Limited?

Laws and Regulations Related to General Banking

Which chapter is related to laws and regulations in general banking?

Chapter 10: Laws and Regulations Related to General Banking

What is the primary focus of the sections of the Contract Act, 1872, mentioned in the study material?

Some important sections related to contracts

What is the relevance of the Companies Act, 1994, in the context of general banking?

It has some relevant issues related to general banking

What is the primary objective of the Bank Companies Act, 1991, mentioned in the study material?

To govern the activities of banks

What is the significance of the relevant sections of the Partnership Act, 1932, mentioned in the study material?

They have some relevant issues related to partnerships

What is the primary focus of the laws and regulations discussed in Chapter 10 of the study material?

Relevant sections of various laws related to general banking

What is the obligation annexed to the ownership of property in a trust?

Confidence reposed

What is the document that contains the names of the trustees and their powers?

Trust deed

What is the beneficial interest of the beneficiary in a trust?

Right against the trustees as owner of the trust property

What should a banker thoroughly examine when opening an account in the names of persons as trustees?

The trust deed

What is the person who accepts the confidence in a trust called?

Trustee

What is the primary duty of an executor or administrator?

To realize the assets of the deceased and to pay off his debts

What is the document required by an executor to act on a will?

Letter of probate

What is the role of an administrator?

To realize the assets of the deceased and to pay off his debts

Who is responsible for distributing the estate of a deceased person?

Executor or administrator

What is the term for a person who is appointed to conduct the affairs of a person after his death?

Personal representative

What is the difference between an executor and an administrator?

An executor is appointed by the will, while an administrator is appointed by the court

What must an executor obtain before they can act on a will?

Letter of probate

What is a letter of probate?

An official confirmation of the will from the court

What is the term for a person to whom the execution of a will is entrusted by the deceased?

Executor

What are the duties of an executor and administrator?

To realize the assets of the deceased and to pay off his debts

What is the reason for terminating a customer-bank relationship due to the action of a government authority?

Attachment order issued by the income Tax authorities

What is the primary objective of relationship banking in the banking industry?

To create a long-term, mutually beneficial relationship with customers

What is the significance of customer service in the banking industry, according to the study material?

It has great significance in the banking industry

What is the result of a successful relationship banking approach?

Increased customer loyalty

What is the focus of relationship banking in terms of managing relationships?

Among depositors, borrowers, and regulatory bodies

This study material covers advanced general banking concepts, including background, objectives, methodology, and organization of the manual. It is designed for NCC Bank Limited, Bangladesh.

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