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Q:

What is ‘Bill Purchase’? 

Answer:
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 57
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 47
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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0 511
Q:

What is Line of credit?

Answer

Line of credit is an agreement or arrangement between the bank and a borrower, to provide a certain amount of loans on borrower’s demand. The borrower can withdraw the amount at any moment of time and pay the interest only on the amount withdrawn. For example, if you have $5000 line of credit, you can withdraw the full amount or any amount less than $5000 (say $2000) and only pay the interest for the amount withdrawn (in this case $2000).

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0 484
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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