Most Important Questions PPB (Principles and Practices of Banking) | JAIIB – Class 2

Q1. “Mr. Rama” a partner in “Rama & Co.” deposits a cheque drawn in his favour and endorsed by him in the name of the firm for credit to the firms account. You will–
(a)Not allow the same without verifying the genuineness of transaction
(b)Allow after getting consent of other partners
(c)Not allowed as the Bank may be liable for conversion
(d)Collect the cheque if otherwise in order

Q2. What is the main objective of white revolution?
(a)Increase in milk production
(b)Increase in cotton production
(c)Increase in white jute
(d)Increase production of white button mushroom

Q3. Where nothing is mentioned about a cheque being bearer or order, It should be treated to be payable to:
(a)It is consider as order cheque
(b)It is consider as bearer cheque
(c)It can be bearer or order it depends on the discretion of the bank
(d)It can be bearer or order it depends on the discretion of the payee

Q4. Which of the following statement is not correct about the close ended scheme?
(a)Restricts the freedom of entry and exit
(b)It allows the investor to enter and exit at his convenience
(c)It has a lock in period
(d)Investors cannot buy the units of a closed-ended fund after its NFO period

Q5. What is the maximum number of HUFs which can become partners in a partnership firm?
(a)Maximum- 2
(b)Maximum- 3
(c)Maximum- 4
(d)HUFs cannot become partner in a partnership firm

Q6. A and his wife W have a locker as either or survivor. Because of dispute, A asks the bank not to allow an operation by W. When W comes to operate the locker. Bank will do:
(a)Any of them can operate the locker because it is either or survivor
(b)Allow only joint operations as there is dispute between the customers
(c)Will not allow operations to W but will allow to A
(d)Allow operations by W as instructions are either or survivor

Q7. Which of following regulation pair does not match each other?
(a)Regulation of insurance market by- IRDAI
(b)Regulation of capital market by- SEBI
(c)Regulation of money market by- RBI
(d)Regulation of forex market by-SEBI

Q8. Ramesh and Suresh have a saving account with E or S operation mandate. A cheque issued by Ramesh with the validation of the cheque extended under the signature of Suresh was presented for payment. What will bank do?
(a)Pass the cheque
(b)Return the cheque
(c)Pass after getting signature of both
(d)Pass cheque as per discretion of the bank

Q9. In case of low risk category accounts fresh KYC should be obtained once in:
(a)3 years
(b)5 years
(c)8 years
(d)10 years

Q10. What is the meaning of the term “Power of Attorney”?
(a)The power of authority given to any person
(b)The power of withdrawing the money from anybody’s bank account
(c)A written document, authorizing anybody to do the work on behalf of the other person
(d)All of these

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