JAIIB - Principles and Practices of Banking Mock Tests Set 8

93.Deep Das, a new accounting clerk at a firm that had recently terminated several employees due to budgetary cutbacks, accidentally viewed his supervisorís biweekly paycheck. Not realizing that the paycheck included an annual bonus, Deep Das erroneously multiplied the gross pay by 26 to find annual earnings. Deep Das was amazed that his supervisor appeared to earn more than twice the local average for employees in an accounting supervisory position. Das discussed this situation with a friend, a recently terminated employee of the company who now worked for a local newspaper. As a result of this discussion, the supervisorís ďoutrageousĒ salary was made public. Which one of the standards of Ethical Professional Practice did Deep Dasís actions violate?


Options are :

  • Competence.
  • Confidentiality.
  • Integrity.
  • Credibility

Answer :Confidentiality.

JAIIB - Principles and Practices of Banking Mock Tests Set 9

94.Anand was recently tried and convicted in court for producing and selling illegal narcotic drugs. None of the activity occurred during work hours, and Anand performed duties as a accountant without incident during the period of illegal activity. Anand has argued that because the illegal activity was unrelated to Anandís service as a accountant, no ethical violation had been committed. Which provision of Ethical Professional Practice is most likely to apply to Anandís illegal actions?


Options are :

  • Competence.
  • Confidentiality.
  • Integrity.
  • Credibility

Answer :Integrity.

96.You have examined your organizationís financial statements and determined that they present a number of significant items in a fraudulent manner. You know that you should report this situation to management but are concerned that reporting it might result in your employment being terminated. Failure to report this situation is a violation of which of the ethical standard(s) of Ethical Professional Practice?


Options are :

  • Credibility.
  • Confidentiality.
  • Competence.
  • Confidentiality and Integrity.

Answer :Credibility.

98.An accountant has concerns that a particular transaction is being recorded in a manner that does not reflect the nature of the transaction and believes that alternative accounting is being used to avoid recording the appropriate expense for a period. The accountant attempted to speak to the accounting manager, but the manager rebuffed the accountant and said there was no time to discuss the issue further. According to Ethical Professional Practice, what is the next appropriate step the accountant should take regarding this issue?


Options are :

  • Discuss the issue with the next level of management over the accounting manager.
  • Discuss the issue with the companyís independent accounting firm.
  • Discuss the issue with the firmís legal counsel.
  • Resign from the position with the company.

Answer :Discuss the issue with the next level of management over the accounting manager.

JAIIB Accounting and Finance for Bankers Mock Tests Set 1

99.An accountant has frequent business contact with customers, suppliers, and creditors in the course of performing professional duties. Which of the following circumstances would most likely threaten the accountantís adherence to the ethical principles and standards as per Ethical Professional Practice?


Options are :

  • The accountant accepted two World Cup tickets from a supplier and flew to the stadium in the companyís jet along with a number of the supplierís executives.
  • The accountant speaks quarterly with analysts regarding the companyís past performance and future prospects.
  • The accountant attends a professional conference where the accountant goes out to dinner and socializes with accountants from other companies in the industry.
  • The accountant attends a charity event at the invitation of the companyís audit firm, which bought two tables of tickets to support the event.

Answer :The accountant accepted two World Cup tickets from a supplier and flew to the stadium in the companyís jet along with a number of the supplierís executives.

100. Which is NOT correct w.r.t. RBIís Fair Bank Practice Code for Lenders?


Options are :

  • Lenders should restrain from interference in the affairs of the borrowers except for what is provided in the terms and conditions of the loan sanction documents.
  • Lenders must not discriminate on grounds of sex, caste and religion in the matter of lending.
  • In the matter of recovery of loans, the lenders should not resort to undue harassment.
  • In case of receipt of request for transfer of borrowal account, either from the borrower or from a bank/financial institution, which proposes to takeover the account, the consent or otherwise, i.e., objection of the lender, if any, should be conveyed within 3 Months from the date of receipt of request.

Answer :In case of receipt of request for transfer of borrowal account, either from the borrower or from a bank/financial institution, which proposes to takeover the account, the consent or otherwise, i.e., objection of the lender, if any, should be conveyed within 3 Months from the date of receipt of request.

Which of the following is not true in respect of Executors? 


Options are :

  • Appointed by a testator through a will
  • Appointed by Court in absence of a will to act through Letter of Administration
  • Performs the duty of realizing and distributing the assets of a deceased
  • On death of one of the Executors his powers are vested in surviving executors

Answer :Appointed by Court in absence of a will to act through Letter of Administration

JAIIB Accounting and Finance for Bankers Mock Tests Set 10

Commonly used medium of communication in banking 


Options are :

  • Coaxial Cables
  • Fibre Optic Cable
  • Telephone Lines
  • None of these

Answer :Telephone Lines

The receivables of various loans and obligation are put together and distributed amongst investors, in which of the following:


Options are :

  • Leasing
  • Factoring
  • Securitization
  • Venture capital
  • Forfaiting

Answer :Securitization

Tele-banking facility is provided by banks through bank computers based on which of the following: 


Options are :

  • Voice processing
  • Brick and mortar processing
  • Internet processing
  • Virtual banking

Answer :Voice processing

JAIIB Accounting and Finance for Bankers Mock Tests Set 11

In Garnishee Order, balances held outside India ...... 


Options are :

  • can be attached
  • can't be attached
  • can be attached if ordered so by the court
  • None of these

Answer :can't be attached

In which account customer has the flexibility to select the number of installments and also vary his monthly installment amounts subject to certain conditions? 


Options are :

  • An EEFC account
  • A variable recurring deposit account
  • A flexi deposit account
  • A roaming current account

Answer :A variable recurring deposit account

Firewalls are used to protect against 


Options are :

  • Unauthorised Attacks
  • Virus Attacks
  • Data Driven Attacks
  • Fire Attacks

Answer :Unauthorised Attacks

JAIIB Accounting and Finance for Bankers Mock Tests Set 12

Smallest storage unit of a computer is ...... 


Options are :

  • Bit
  • Byte
  • Nibble
  • Pixel

Answer :Bit

A computer network spread over a span of large geographical area that normally uses telecommunication   net work is called ______: 


Options are :

  • geographical network
  • large area network
  • wide area network
  • local area network

Answer :local area network

Major benefits of Centralized Business solutions or Core banking Solutions (CBS) include (a) it relieves branches of jobs like data backup, MIS generation (b) attracts low cost initially (c) enables centralized management information and decision support (d) standardization of branch automation software using single version:


Options are :

  • A to d all
  • A, b and c only
  • A, b and d only
  • A, c and d only

Answer :A, c and d only

JAIIB Accounting and Finance for Bankers Mock Tests Set 13

In bankís parlance credit risk in lending is 


Options are :

  • Default of the banker to maintain CRR
  • Default of the banker to maintain SLR
  • Default of the banker to release credit to the customer
  • Default of the customer to repay the loan

Answer :Default of the customer to repay the loan

Relationship of Banker with Payee of Draft 


Options are :

  • Trustee and Beneficiary
  • Drawer and Drawee
  • Licensor and Licensee
  • Principal and Agent

Answer :Trustee and Beneficiary

Which of the following does not match 


Options are :

  • Modem- converts digital signals into analog and signals to digital
  • Twisted pair cable consists of two insulted copper wire
  • Message switch is used to store and forward data to large no. of terminals over a single communication channel
  • Multiplexer is used to send only one signal over a multi communication channel

Answer :Multiplexer is used to send only one signal over a multi communication channel

JAIIB Accounting and Finance for Bankers Mock Tests Set 14

The information technology impacts banks due to (a) change in organizational structure (b) change in organizational orientation (c) change in service delivery channel (d) change customer aspiration: 


Options are :

  • A to c only
  • B and c only
  • A to d all
  • B, c and d only

Answer :A to d all

01st August of Every Year is observed as ...... 


Options are :

  • KYC Compliance Day
  • KYC Compliance and AML Day
  • Computer Security Day
  • KYC Compliance and Fraud Prevention Day

Answer :KYC Compliance and Fraud Prevention Day

The head quarter of IMF is located at ...... 


Options are :

  • London
  • Washington
  • New York
  • Paris

Answer :Washington

JAIIB Accounting and Finance for Bankers Mock Tests Set 15

Which of the following statements is not correct: 


Options are :

  • A coaxial cable consists of an inner copper conductor held in position by circular spacers
  • A twisted pair cable consists of two insulted copper wire
  • In optical fibre data is transmitted through a very thin glass or plastic fibres with a beam of light OR laser beam driven by a high speed high current driver
  • None of the above

Answer :None of the above

Which of the following does not match in the context of marketing mix (i.e.product,price,promotion and place):


Options are :

  • Brand name - product
  • Credit terms- price
  • Discount- promotion
  • Transport-place

Answer :Discount- promotion

What among the following is an objective of pricing a product (a) profit (b) market share and survival (c) cash flow (d) image communication: 


Options are :

  • A to d all
  • A, b and c only
  • A, b and d only
  • A, c and d only

Answer :A to d all

JAIIB Accounting and Finance for Bankers Mock Tests Set 2

Real Time Gross Settlement (RTGS) is managed by ...... 


Options are :

  • State Bank of India
  • Reserve Bank of India
  • Indian Banks Association (IBA)
  • Government of India

Answer :Reserve Bank of India

LIBOR is not issued for ...... 


Options are :

  • USD
  • GB Pound
  • INR
  • Japanese Yen

Answer :INR

The customer has the option to pay the entire amount once in a month or pay in installments in ...... 


Options are :

  • Debit Card
  • Credit Card
  • Charge Card
  • Smart Card

Answer :Credit Card

JAIIB Accounting and Finance for Bankers Mock Tests Set 3

Various factors influence the pricing of a product which can be internal factors and external factors. Which of the following is not correctly categorized 


Options are :

  • Social considerations-internal
  • Govt. controls and regulations-external
  • Manufacturing and marketing cost- internal
  • Characteristics of the product Ė internal

Answer :Social considerations-internal

ĎPINí in Smart Card is called ...... 


Options are :

  • Permanent Index Number
  • Personal Identification Number
  • Personal Index Number
  • Permanent Identification Number

Answer :Personal Identification Number

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