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# CBO Assessments ## Topic 1 - Banking Theory & Practice (Paper A) * **Financial conglomerate functioning as financial supermarkets** - Universal Banking * **Funds are not sufficient and the cheque is dishonoured by which bank** - Paying Bank * **What is the third stage of money laundering** - Int...

# CBO Assessments ## Topic 1 - Banking Theory & Practice (Paper A) * **Financial conglomerate functioning as financial supermarkets** - Universal Banking * **Funds are not sufficient and the cheque is dishonoured by which bank** - Paying Bank * **What is the third stage of money laundering** - Integration * **The maker in case of cheques are** - Drawer * **Closure of accounts due to unsatisfactory conducts** - After taking approval from regulatory authorities, unsatisfactory conduct is defined as Money Laundering * **In an endorsed cheque, the person who transfers an instrument is known as** - Endorser * **AML helps to detect and report suspicious activities** - True * **Any overwriting done in the cheques are known as** - Material Alteration * **In negotiable instrument, an instrument in writing containing an unconditional order is known as** - Bill of Exchange - True * **Minor is a person as per Hijra calendar with age below** - 21 * **What are the features of negotiable instrument?** - Transferability, Good title, and Right to sue. * **Deposits that circulate as money leading to net increase in the money is known as** - Credit Creation * **Series of repeat transactions done from one account to another account are known as** - Layering * **Cheque truncation system helps in better cash management** - True * **Special accounts are** - Minor accounts * **How many times in a year frequent return of cheques leads to closure of account** - 4 * **Accounts preferred by businessman are** - Current Account * **In an endorsed cheque signing on back of instrument with direction to pay the amount is known as** - Special Endorsement * **When a name of specific bank is written in space between 2 parallel lines are** - (Special Crossing) * **Stale cheques are any cheques that are older than** - 6