JAIIB - Principles and Practices of Banking Mock Tests Set 15

N.I. are easily ________     


Options are :

  • Transferable
  • gifted
  • sold

Answer :Transferable

JAIIB - Principles and Practices of Banking Mock Tests Set 16

Two parallel transverse lines across the cheque is called _________      


Options are :

  • endorsement
  • transfer
  • assignment
  • crossing

Answer :crossing

In which of the following situations different partners of the combination remain separate entities: 


Options are :

  • Alliance
  • Amalgamation
  • Consolidation
  • Merger

Answer :Alliance

The functions of purchase of receivable, maintenance of receivable ledgers and collection of dues on due date, under factoring becomes the function of: 


Options are :

  • Seller
  • Factor
  • Buyer
  • A & C

Answer :Factor

JAIIB Accounting and Finance for Bankers Mock Tests Set 1

Crossing is a direction to the ________ bank to pay the cheque to the payee through a bank.       


Options are :

  • Drawer
  • Payee
  • Paying
  • Collecting

Answer :Paying

Following liability is not taken as part of time and demand liabilities for the purpose of CRR:


Options are :

  • fixed deposits
  • saving bank accounts
  • recurring deposits
  • paid-up capital

Answer :paid-up capital

A cheque drawn by a Power of Attorney holder is presented for payment. You come to known through reliable source that Principal has died. Which of the following action you will take? 


Options are :

  • Return the cheque
  • Pay the cheque
  • None of these

Answer :Return the cheque

JAIIB Accounting and Finance for Bankers Mock Tests Set 10

Can nomination be made by an illiterate depositor? 


Options are :

  • Yes, by affixing his Thumb Impression on form DA1 without witness
  • Yes, by affixing his Thumb Impression on form DA1 with one witness
  • Yes, by affixing his Thumb Impression on form DA1 with two witnesses
  • No, such nomination may be under influence may not hold legal validity

Answer :Yes, by affixing his Thumb Impression on form DA1 with one witness

Nomination is not allowed in which of the following cases?  


Options are :

  • Individual Resident A/c
  • NRIs A/c
  • Sole Proprietorship A/c
  • Accounts held in Representative Capacity

Answer : Accounts held in Representative Capacity

When a cheque is drawn on a bank is called the __________.       


Options are :

  • Dawer
  • Endorser
  • Acceptor
  • Drawee

Answer :Drawee

JAIIB Accounting and Finance for Bankers Mock Tests Set 11

A charitable trust has a current account with your bank and now it wants to raise a loan for furtherance of its activities. The loan can be allowed


Options are :

  • If the trustee decide and pass a resolution to that effect
  • If the current account operating trustee make a request and offer his guarantee also
  • If the Trust Deed provides for that the loan
  • The loan will not be allowed to a trust

Answer :If the Trust Deed provides for that the loan

When the seller of machinery or other capital equipment is agreeable to extend  long term credit to the buyer of the machinery, on the gurantee of a bank, such gurantee is called 


Options are :

  • Specific guarantee
  • Particular guarantee
  • Deferred payment guarantee
  • Performance guarantee

Answer :Deferred payment guarantee

The crossing in a crossed cheque can be cancelled by ________.       


Options are :

  • Drawer
  • Endorser
  • Acceptor
  • Drawee

Answer :Drawer

JAIIB Accounting and Finance for Bankers Mock Tests Set 12

Banks need to obtain valuation reports from two-independent valuers, when the value of immovable property is or more: 


Options are :

  • Rs.5 cr
  • Rs.25 cr
  • Rs.50 cr
  • Bank discretion

Answer :Rs.50 cr

Facility of Nomination has been introduced in Banks on recommendations of which committee? 


Options are :

  • Talwar Committee
  • Ghosh Committee
  • Jilani Committee
  • Sawaikar Committee

Answer :Talwar Committee

Registered office of M/s XYZ Ltd Co. is at New Delhi. This company wants to enter into an MOU with French Company having its registered office at Paris. Managing Director of M/s XYZ Co Ltd  will be visiting Paris next month in this respect. What will you suggest him regarding Common Seal? 


Options are :

  • To carry original common seal to Paris
  • To carry facsimile of the Common Seal to Paris
  • Either a or b
  • No Common seal can be taken to a foreign country

Answer :To carry original common seal to Paris

JAIIB Accounting and Finance for Bankers Mock Tests Set 13

What  is  the  amount  of  subsidy  admissible  to  Self  Help  Group  under  SGSY  scheme?  (i)  50%  of the  project  cost,  (ii)  Maximum  Rs  10000 per  beneficiary  (iii)  Maximum  of  Rs  2,00,000  for  Self Help Group.


Options are :

  • Only (i) and (ii)
  • Only (i) and (iii)
  • Only (ii) and (iii)
  • (i), (ii) and (iii)

Answer :Only (i) and (ii)

Mr. K had deposited a sum of Rs.2 lac in his saving bank account. A letter is received from the local Police that Mr. K has been arrested for committing a fraud. A cheque of Rs.15000 has been received through clearing fin the account for payment, after receipt of notice from the police. 


Options are :

  • Cheque will be paid
  • Cheque will be paid after having permission from the Police
  • Cheque will be paid after getting permission from the customer and the police
  • Cheque will not be paid

Answer :Cheque will be paid

When RBI wants to reduce liquidity in the banking system : 


Options are :

  • it increases the CRR,
  • it increases the MSF rate
  • it increases the Repo Rate
  • it increases the reverse repo rate

Answer :it increases the CRR,

JAIIB Accounting and Finance for Bankers Mock Tests Set 14

when a drawer draws a cheque without keeping sufficient balance and if the cheque is dishonoured for insufficient funds, the drawer is punishable with and imprisonment which may extend to ________ and or a fine.


Options are :

  • Two months
  • four month
  • one year

Answer :one year

Interest in crop related agriculture advances is to be charged on: a monthly basis, b quarterly basis, c half-yearly basis, d yearly basis, e any of the above as per discretion of the bank 19 What is the margin on advance against shares in physical form, that banks are to retain: 


Options are :

  • 25% of the market value
  • 50% of the market value
  • 50% of the face value
  • 25% of the face value

Answer :50% of the market value

Demand deposits are those which can be withdrawn __________.       


Options are :

  • On demand
  • at any future date
  • after one year
  • after 5 years

Answer :On demand

JAIIB Accounting and Finance for Bankers Mock Tests Set 15

U/s 22 of RBI Act, RBI (which of the following is not correct)  


Options are :

  • Has authority to issue and manage currency of India
  • Issues bank notes and currency notes
  • Can issue bank notes having denomination Rs.2 to Rs.10000
  • The bank notes are legal tender at any place in India

Answer :Issues bank notes and currency notes

Govt. regulates the banking system by affecting the decision making by RBI since (a) Govt. holds the entire share capital of RBI (b) Govt. can give direction to RBI u/s 7 (1) of RBI Act. (c) Govt. has absolute powers over the banking system: 


Options are :

  • A to c all correct
  • A and b only are correct
  • B and c only are correct
  • A and c only are correct

Answer :A and b only are correct

Current deposits are not entitled to ________.       


Options are :

  • Cheque book
  • Statements
  • Customer service
  • interest

Answer :interest

JAIIB Accounting and Finance for Bankers Mock Tests Set 2

Introduction in all deposits accounts is _________       


Options are :

  • optional
  • compulsory
  • discretion of the bank

Answer :compulsory

Legal audit of documents is required when the amount of loan is or above: 


Options are :

  • Rs.10 cr
  • Rs.5 cr
  • Rs.2 cr
  • Bank discretion

Answer :Rs.5 cr

Government companies are companies where the government holds at least ________ % share of the company.


Options are :

  • 80
  • 50
  • 75
  • 51

Answer :51

JAIIB Accounting and Finance for Bankers Mock Tests Set 3

Section ______ of the company Act details the borrowing limits of the company.       


Options are :

  • 85(A)
  • 21
  • 293(1)
  • 5(b)

Answer :293(1)

Execution of a will is entrusted to __________      


Options are :

  • Administrator
  • holding of power of attorney
  • Executor
  • holder in due close

Answer :Executor

Comment / Suggestion Section
Point our Mistakes and Post Your Suggestions