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What is Mortgage?

A. A security created on immovable property for a deposit received by a bank

B. A security created on immovable property for a loan given by a bank

C. A facility created on movable property for a deposit received by a bank

D. A security created on movable property for a loan given by a bank

Solution by Mcqs Clouds

Answer: Option B

Explanation:
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Related Questions on Banking Awareness Test Questions

What does 'Nomination' for a deposit account in the bank mean?

A. Mandate given by the close relatives of the depositor to settle the death claim in case of death of the depositor

B. Mandate decided by the bank to settle the death claim of its depositor

C. Mandate of the depositor in favor of one or more persons to claim the amount on death of the depositor

D. Mandate of the depositor in favor of a close relative who can claim the amount on death of the depositor