Very Short Answer
1 What is cheque?
Ans: Cheque is a written order issused on a bank by a person or a firm having deposits in the bank to pay on demand the mentioned sum of money to the person or party named there in.
2 What is dishonour of cheques?
Ans: Refural to make the payement of a cheque to the payee by the bank when presented it to the bank counter is called dishonour of cheque.
3 Name the parties involved in a cheque.
Ans: The parties involved in a cheque are Drawer,Drawee and the Payee.
4 What is order cheque?
Ans: An order cheque is a cheque which is madé payable to a person or a party named in the cheque on presentation at the bank.
5 Give any two reasons for dishonour of a cheque.
Ans: The two reasons for dishonour of a cheque are if the cheque is presented with future date or after the expiry of three months period of timę from the date of issue of a cheque and if the bank receives a notice about insolvency of the drawer.
Q.6. What is crossed cheque?
Ans: When is cheque is crossed across its face with two parallel lines to ensure. That the payment reaches to the concerned party is known as crossed cheque.
Q.7. What is meant by dishonour of a cheque?
Ans: When a cheque issued by the drawer is refused to make the payment of the same by the bank then the cheque is said to be dishonoured.
Q.8. What is Bank?
Ans: The bank is financial institution that accepts deposits from public grants loan to industries ,trade, individuals and helps in developing the nation economically.
Q.9. What is Commerclal Bank?
Ans: A commercial bank is the bank that deals with commercial functions like accepting deposits from public, providing loan, transferring money from one place to another place, exchanging foreign currency, providing agency service etc.
Q.10. What is Central Bank?
Ans: The central bank is the apex bank of a country that controls all financial sectors ,commercial banks, implements the economic policies of the government issues notes ,controls monetary policy and develops fiscal frameworks in every country.
Q.11. Write the name of the oldest Commercial Bank in Nepal.
Ans: The oldest commercial, bank of Nepal is Nepal Bank Limted.
Q.12 When was the Citizen Investment Trust established? Mention year, month and dday in B.S.
Ans:. The Citizen Investment Trust was established on 4th Chaitra, 2047 under Citüzen Investment Fund Act, 2047
Q.13. What do you mean by financial institution ?
Ans: Financial institution. are those organizations which are established in an economic System to help to borrow and grant loans, act as intermediary between the saver and the borrower.
Q.14 When was the Central Bank of Nepal established?
Ans: Central Bank of Nepal was established on 14 Baisakh, 2013 under Nepal Rastra Bank ACT, 2012.
Q.15. Name different types of Bank.
Ans: The diferent types of banks are Central Bank, Commercial Banks, Development Banks, Village Development Banks.
Q16. What is Development Bank?
Ans: Banks which are established for developing certain special sectors of the economic infrastructure such as agriculture industry, mines, commerce, transport, communication,and electricity are called Development Bank.
Q17. What are different types of Development Banks?
Ans:The different types of Development Banks are Agriculture Development Bank, Rural development Bank, Industrial Development Bank
Q.18. When was the Nepal Central Bank ‘Nepal Rastra Bank’ established?
Ans: The Nepal Central Bank “Nepal Rastra Bank” was eştablished on 14 th baishakh 2013 B.S under the Nepal Rastra Bank Act, 2012.
Q19. Name the types of insurance.
Ans: There are two of insurance they are (a) Life insurance and (b) Non-life insurance.
Q.20. Who appoints the Governer of Nepal Rastra Bank ?
Ans: Govemment of Nepal appoints the Governor of Nepal Rastra Bañk..
Q21 Name the types of non-life insurance.
Ans: The types of Non-ljife insurance are Marine Insurance, Fire lnsurance , Motor Insurance, Fidelity guarantee insurance, Employee’s liability insurance and Aviation Insurance.
Q.22. What is Insurance?
Ans: Insurance is a mechanism for providing financial compensation for the effects of misfortune to a man or a party out of the accumulated contribution of the members participating.in the scheme.
Q.23. Name the types of financial institution.
Ans: There are two’ types financial institution, they are (a) Banking financial institution and(b) non-banking financial institutions
Q.24. Name the non-banking financial institutions
.Ans: The non-banking financial institutions are Finance Companies, Employees Provident Fund, Capital Market, Insurance Companies, Citizen Investment Fund (Trust).
Q.25. Name the types of life insurance policy.
Ans: The types of life insurance policies are endowment life insurance, whole life insurance policy, children’s education and marriage endowment life insurance, Term life insurance and anticipated endowment life insurance.
Q.26. Write any two types of Financial Institutions.
Ans: The two types of Financial Institutions are Bank and Insurance company.
Q.27. Name the types of life insurance policy
Ans: A bearer cheque is a cheque which is made payable to the bearer of the same on presentation at the bank cash counter.
Q.28. Name the different types of cheques.
Ans The different types of cheques are bearer cheque, order cheque and cross cheque.
Q29 In which country Central Bank was established first ?
Ans: Reek Bank of Sweden is the first Central Bank which was established in Sweden in1656 AD.
Q.30. Write any two primary functions of linsurance.
Ans: The two primary functions of Insurance are to provide assurance and distribute the risk exposed to the assured to a large number of people who contribute to the insurance. the risk
Q.31. Write the full form of SWIFT.
Ans: The full form of SWIFT is Society for the world wide interbank Financial telecommunication.