JAIIB DBF QUIZ PPB PAPER-1: 15th February 2020

Q1. While opening the account of Limited company we must take-
(a) Certified Copy of Articles of Association
(b) Certified Copy of Memorandum of Association
(c) Copy of Certificate of Incorporation in case of Public Companies
(d) All of the above
(e) None of the above

Q2. What is the meaning of liquidity with the banker in banking system?
(a) Cash in hand
(b) Cash and bank balances
(c) Short term current assets which can be converted into cash within 12 months
(d) All of the above
(e) None of the above

Q3. A customer of bank lost their FDR, which of the following document he need to be executed-
(a) Government bond
(b) Agreement
(c) Promissory note
(d) Indemnity bond
(e) None of the above

Q4. As per the provisions of section 138 of Negotiable Instruments Act, 1881, payee of a cheque may initiate criminal action, if the cheque is returned for the reason……
(a) Refer to drawer
(b) Payment stopped by the drawer
(c) Post-dated
(d) Insufficient funds
(e) None of the above

Q5. Priority sector targets are linked to:
i. Adjusted net bank credit
ii. Credit equivalent of off- balance sheet exposure
iii. whichever is lower
iv. whichever is higher
(a) Only i
(b) i and ii both
(c) i, ii and iii together
(d) i, ii and iv together
(e) None of the above

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Q6. A bank received the payment of an outstation bill on behalf of its customer, but before the money could be credited to the customer’s account the bank failed. What is the relationship between the bank and the customer?
(a) Creditor & Debtor
(b) Principal & Agent
(c) Bailer & Bailee
(d) Trustee & Beneficiary
(e) None of the above

Q7. As per Information Technology Act, 2000, the importance of electronic transmission of message has gone up heavily in e-commerce. The digital images are required for authenticity, integrity and non-repudiation. The concept is known as ?
(a) RTGS
(b) Electronic Fund Transfer
(c) Packet assembler/dissembler
(d) Digital signature
(e) None of the above

Q8. What is CVV?
(a) Card Verification Value
(b) Card Validation Value
(c) Card Valid Verification
(d) Card Value Verification
(e) None of the above

Q9. Where non-marriage certificate is required?
(a) Only in case of family pension as family pension will be stopped after the marriage of the family pension holder who can be widow, widower or unmarried daughter
(b) Only in case of family pension as family pension will be stopped after the marriage of the family pension holder who can be unmarried daughter
(c) Only in case of family pension as family pension will be stopped after the marriage of the family pension holder who can be widow
(d Any of the above
(e) None of the above

Q10. If the PPF account is in joint names with a spouse, after the death of one of the account holder the account can be transferred in the name of ………
(a) Cannot be transferred
(b) Gets closed
(c) Spouse living
(d) PPF account in joint name not possible
(e) None of the above

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Solutions

S1. Ans.(d)

S2. Ans.(d)

S3. Ans.(d)

S4. Ans.(d)

S5. Ans.(d)

S6. Ans.(b)

S7. Ans.(d)

S8. Ans.(a)

S9. Ans.(a)

S10. Ans.(a)

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