New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Consider the following statements regarding the storage

    of bullion: 1)    Bullion should be only stored in a bank vault for maximum security. 2)    Bullion should not be stored in a safe deposit box as it is not covered by insurance. 3)    It is cost effective for small investors to keep billions in a bank vault. Which of the statements given above is/are incorrect?  
    A 1 and 2 only Correct Answer Incorrect Answer
    B 1 and 3 only Correct Answer Incorrect Answer
    C 2 and 3 only Correct Answer Incorrect Answer
    D 1, 2 and 3 Correct Answer Incorrect Answer
    E 3 only Correct Answer Incorrect Answer

    Solution

    Statement 1 is incorrect as storing bullion in a bank vault may not be practical or cost-effective for small investors. Storing bullion in a safe deposit box is a common and secure option. Statement 2 is also incorrect as bullion stored in a safe deposit box can be insured, although the insurance may be limited or require additional coverage.

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