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Q:

What is Line of credit? 

Answer:
Q:

Define Budgetary Control ?

Answer

Budgetary Control is establishment of budgets and the continuous comparison of actual results with the planned results. It computes the variances and after that management takes necessary actions to maintain favorable variations, through revision of the budgets.

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Subject: Bank Interview - Accounting and Finance Exam Prep: Bank Exams , CAT
Job Role: Bank Clerk

1 22
Q:

All of these are exemptions from local real property taxes EXCEPT :

A) Low-income homeowner's exemption B) Homeowner's exemption
C) Veteran's exemption D) Senior citizen's tax exemption
 
Answer & Explanation Answer: A) Low-income homeowner's exemption

Explanation:

Under state law limited exemptions from local real property taxes for individuals who qualify are senior citizens(blind and disabled persons), who may defer their taxes; Veterans, who receive $4000 off assessed value; and homeowners, who receive $7000 off assessed value.

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Filed Under: Bank Interview - Accounting and Finance
Exam Prep: Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

1 69
Q:

The main components of market risk are 

a) Liquidity risk     b) Interest rate risk       c) Currency risk

A) Only a B) both a and b
C) only c D) all a, b and c
 
Answer & Explanation Answer: D) all a, b and c

Explanation:
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Filed Under: Bank Interview - Accounting and Finance
Exam Prep: Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

2 70
Q:

What is ‘Crossed Cheque’ ?

Answer

A crossed cheque indicates the amount should be deposited into the payees account and cannot be cashed by the bank over the counter. Here in the image, number#2, you can see two cross-lines on the left side corner of the cheque that indicates crossed cheque.


 

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0 527
Q:

What ACH stands for?

Answer

ACH stands for Automated Clearing House, which is an electronic transfer of funds between banks or financial institutions.


 

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