Locker & Safe Custody – Important MCQs

Locker & Safe Custody – Important MCQs

(SBI / JMGS-I Exam Practice)

Choose the correct option for each question and click “Check Answers” at the bottom.
Score + detailed explanations will be shown question-wise.

1. The legal relationship between bank and safe deposit locker hirer is:

2. The legal relationship in safe custody of articles (sealed packet kept with bank) is:

3. Hiring of a safe deposit locker is considered a contract of:

4. In locker facility, bank is bailee of:

5. Which of the following is mandatory for locker allotment?

6. Nomination in a safe deposit locker is:

7. A sole locker hirer has appointed a nominee. On his death, the bank should:

8. In a joint locker with operating instructions “Either or Survivor”, one hirer dies. Normally, the right to operate locker vests in:

9. In a joint locker with operating instructions “Jointly”, one hirer dies. Operation of locker will normally require:

10. Which statement about a nominee in lockers is MOST accurate?

11. Bank’s liability in respect of locker contents is BEST described as:

12. Are banks expected to know exact contents placed inside a locker?

13. Under safe custody of a sealed packet, the bank should:

14. When can a bank decide to break open a locker for non-payment of rent?

15. After breaking open a locker, the contents found should be:

16. At each locker operation, the bank should obtain:

17. A locker hirer loses his locker key. The cost of breaking open and fitting a new lock is normally borne by:

18. On surrender of a locker by hirer, the branch must FIRST ensure:

19. Regarding bank’s financial statements, contents of lockers:

20. Which statement best distinguishes safe custody from a normal deposit?

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