Q1. The MD of a Private Ltd company endorses a cheque payable to the company in his favour and wants you to collect the same in his personal account. What will you do:
(a) Allow after verifying the genuineness of endorsement
(b) Allow only after verifying the genuineness of the transaction
(c) Not allowed as the Bank may be liable for conversion
(d) Not allowed as cheque favouring a company cannot be endorsed

Q2. The banker customer relationship in case of a locker is that of:
(a) Lessee and lessor
(b) Trustee and beneficiary
(c) Agent and Principal
(d) Lessor and lessee

Q3. If both the words bearer as well as order are written and none of these is deleted, The cheque would be considered to be a:
(a) Bearer cheque
(b) Order cheque
(c) It can be order cheque or bearer it depends on the discretion of the bank
(d) It can be order cheque or bearer it depends on the discretion of the payee

Q4. You receive a cheque in an overdraft account for Rs.32,000.00. The debit balance in the account is Rs. 35,000.00 and the Over Draft limit is Rs 60,000.00. What reason you will state while returning:
(a) Refer to drawer
(b) Effects Not cleared
(c) eeds arrangement
(d) Endorsement not correct

Q5. Cancellation of Enrollment for existing customers under Pradhan Mantri Jeevan Jyothi Bima Yojana (PMJJBY) and Pradhan Maned Suraksha Bima Yojana (PMSBY):
(a) Can be cancelled on customer submitting a written request
(b) Can be cancelled by branch for undesirable parties only
(c) Can be cancelled only after 10 years
(d) Cannot be cancelled at all

Q6. If garnishee order does not specify an amount,  it will be applicable or not;
(a) Applicable and full amount in the account will be attached
(b) Applicable and half amount in the account will be attached
(c) Applicable and court mentioned amount in the account will be attached
(d) Not applicable and no amount in the account will be attached

Q7. A partnership has 3 partners. Sudhir, Ananad and Tushar and a nomine son of Ram admitted for the benefit of the partnership. The account opening form should be signed by?
(a) All the partners including minor
(b) All the partners with minor’ natural guardianship
(c) Only the partners other than minor
(d) None of the above

Q8. Mr. Mohan has a saving account in XYZ bank with a balance of Rs. 10,000 as at the close business hours on 1st February 2018. The bank received a garnishee order for Rs.15000 on saving account of Mr. Mohan on 2nd February 2018 at 10:30 AM Mr. Mohan visited the bank on 2nd February 2018 at 12:30 PM and deposits Rs. 10,000 in his saving accounts. How will bank act in respect to the garnishee order?
(a) The order would apply and the amount of Rs.15,000 will be deducted or put on hold as per the direction of the court
(b) The bank will refuse to accept the deposit in the account after garnishee order is served
(c) The order will apply to the amount of Rs. 10,000 only, Available at the time of garnishee order
(d) Order will apply if court is informed about the subsequent deposit after garnishee order.

Q9. In case of MSME loan classified as standard asset provision is to be made at the rate of:
(a) 0.25% of the outstanding amount
(b) 0.75% of the outstanding amount
(c) 1% of the outstanding amount
(d) 5% of the outstanding amount

Q10. The garnishee order does not attach the followings:
(a) Amount deposited 2 hours after the receipt of the order
(b) Undrawn balance in OD a/c
(c) Amount received for safe custody
(d) All of the above

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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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Q1. Which of the following social media platform is famous for marketing through video only?
(a) Linkedln
(b) Pinterest
(c) Youtube
(d) Twitter

Q2. A red flagged account is a……………..account.
(a)Potential Non-Performing Assets
(b)Willful defaulter
(c)Fraud prone
(d)Loss account

Q3. Under PM Fasal Bima Yojna, what is the premium rate for kharif crops?
(a)2% of sum insured or actuarial rate, whichever is less
(b)1.5% of sum insured or actuarial rate, whichever is less
(c)5% of sum insured or actuarial rate, whichever is less
(d)None of the above

Q4. If the third character of the ISIN is mentioned as ‘E’ what does this denote ?
(a)The issuer is company, statutory corporation, banking company
(b)The issuer is mutual fund
(c)The issuer is state government
(d)The issuer is municipal corporation

Q5. The bank has received an information that the one of the partner is an overdraft account has expired what action could you take?
(a)Stop all the operations in the account
(b)Allow other partners to operate the account
(c)Obtain fresh account opening form signed by the surviving partners
(d)Close the existing account and open new with signatures from the surviving partners
(e)None of the above

Q6. Mr Ram is maintaining a saving bank account which is showing a credit balance of Rs. 15000 on 30.01.2019 you receive a cheque of Rs. 15000 issued by Mr. ram in clearing what would be the course of action ?
(a)Bank has to pay the cheque if it is in order
(b)Bank will not make payment advising the drawer maintain minimum balance as per rules
(c)The bank has to make the payment as there is sufficient balance in the account to meet the cheque under section 31 of NI act
(d)Bank makes a noting in recognizing slip to “refer to drawer”

Q7. Cross selling means:
(a)One salesman selling to another salesman
(b)Selling across territories
(c)Selling additional products to existing customers
(e)Selling product BUY 1 GET 1 FREE basis

Q8. KCC scheme has been implemented on recommendations of which of the following committee
(a)Narsgiman committee
(b)Gadgil committee
(c)Anantgitte committee
(d)Kapoor committee
(e) R V Gupta committee

Q9. CAR is required to be maintain by banks in India as a ratio to risk weighted assets which of the organization revaluate the same
(a)BIS
(b)Ministry of finance
(c)RBI
(d)Board director of the bank

Q10. In banking reference, credit risk refers to:
(a)Default of a banker in sanctioning credit limits to the borrower
(b)Default of a banker in keeping sufficient cost at branch level
(c)Default by a borrower in repayment of banks dues
(d)All of the above

Q11. In the process of issuing a Garnishee order court first issues:
(a) Order Nisi
(b) Order primary
(c) Order attachment
(d) Order absolute

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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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What is JAIIB & CAIIB | Benefits & Its Exam Pattern | Books For CAIIB | Fees | Other Benefits

Q1. Whether drawer can be payee?
a) No.
b) Yes, but the permission of RBI necessary nowadays.
c) Yes, by writing self cheque.
d) Yes, but the permission of bank necessary.
e) None

Q2. Which of the following is not an important feature of the Cheque?
a) It must be in writing
b) It must be drawn on specified banker
c) Must be issued by drawer with the permission of the bank to the drawee
d) The payee must be a definite person
e) Always payable on demand but not otherwise

Q3. When the drawee can refuse the payment of cash to the payee?
a) On receipt of notice of drawer’s death
b) On receipt of notice of the drawer’s insanity
c) Drawer requested the drawee to stop the payment
d) On the receipt of garnishee order
e) In all of the above situations, the drawee can refuse the payment

Q4. An endorsement can be on :
(a) the face or back of the negotiable instrument
(b) piece of paper annexed to the instrument
(c) a stamped paper intended to be completed as a negotiable instrument
(d) any of the above
(e) none of the above

Q5. A cheque was payable to A or order. He endorsed it in favour of B but died before it could be delivered to B. The legal heirs of A can:
(a) complete the negotiation by delivery only
(b) not complete the negotiation by delivery
(c) cancel the earlier endorsement and complete the negotiation by fresh endorsement and delivery
(d) either (a) or (c)
(e) none of the above

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Q6. The effect of an endorsement in blank is that it makes:
(a) an order instrument payable to bearer
(b) a bearer instrument payable to order
(c) a crossed cheque payable across the counter
(d) a negotiable instrument a ‘not negotiable’ one

Q7. Endorsement in full means :
(a) signature of the endorser with his full address
(b) signature of the endorser alongwith his PAN no.
(c) signature of the endorser with direction to pay the amount to a certain specified person or his order
(d) both (a) and (b) above
(e) none of the above

Q8. Where a negotiable instrument is dishonoured, the endorsee is required to give a notice to the endorser. When the endorser waives such a notice in his endorsement it is called:
(a) conditional endorsement
(b) restrictive endorsement
(c) facultative endorsement
(d) endorsement ‘sans recourse’
(e) none of the above

Q9. which among the following will be treated as a sans recourse endorsement?
a) The endorser writes on the back side of the cheque’ pay without my liability’
b) The endorser writes on the back side of the cheque’ pay without my responsibility’
c) The endorser writes on the back side of the cheque’ notice of dishonour waived’
d) The endorser writes on the back side of the cheque’ That he will not be liable if the cheque is endorsed

Q10. you receive a cheque for payment from the account of your customer Arun but it is endorsed with pencil the endorsement is otherwise regular will you consider it
a) Void and regular
b) Considerable but pay
c) Prohibited under NI act
d) Permitted under Ni act

Solutions

S1. Ans.(c)
Sol. Yes, by writing self cheque.

S2. Ans.(c)
Sol. Must be issued by drawer with the permission of the bank to the drawee

S3. Ans.(e)
Sol. In all of the above situations, the drawee can refuse the payment

S4. Ans.(d)
Sol. any of the above

S5. Ans.(c)
Sol. cancel the earlier endorsement and complete the negotiation by fresh endorsement and delivery

S6. Ans.(a)
Sol. an order instrument payable to bearer

S7. Ans.(c)
Sol. signature of the endorser with direction to pay the amount to a certain specified person or his order

S8. Ans.(c)
Sol.facultative endorsement

S9. Ans.(a)
Sol. The endorser writes on the back side of the cheque’ pay without my liability

S10. Ans.(b)
Sol. Considerable but pay

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JAIIB 2020 Exam – Preparation, Syllabus, Exam Date, Pattern and Books!

The JAIIB/DBF Exam Quiz of 31st December 2019

Indian Institute of Banking & Finance conducts examination for JAIIB every year two times. This exam gives the growth opportunities to the existing bank employees. The primary objective of the JAIIB exam is to check the basic knowledge of candidates in banking and financial services, making healthy customer relations, basic accountancy and legal aspects necessary for carrying out day to day banking operations. Clearing the exam helps the employees in the growth prospects in the monetary terms. Only the serving employees of the banking sector are eligible to appear for the same. Here at ADDA 247, we are providing you Quiz for JAIIB Exam which will help you in sailing through the exam. All the candidates appearing for the exam can attempt these quizzes, hence complement their JAIIB exam preparation. 

Q.1. For a Debt Recovery Tribunal, the Presiding Officer holds office for a term of 5 years from the date on which he enters upon his office or until he attains the age of 62 years, which ever is less.
(a)Correct
(b)In correct
(c)Not 5 years and 62 years but 3 years and 65 years respectively
(d)Not 5 years but 7 years whereas 62 years of age is correct

Q.2. A Civil suit which is pending stands transferred to the DRT. Then the fees payable-
(a)Will be decided by the DRT
(b)Standard fees to be paid as applicable to a new case referred to the DRT
(c)No fees required to be paid
(d)None of the above

Q.3. Presiding Officer of DRT is-
(a)Appointed by the Committee of Bankers
(b)Appointed by the RBI
(c)Appointed by the RBI in consultation with Central Government
(d)Appointed by the GOI

Q.4. Appeal before the Appellate Tribunal to be disposed off finally from the date of receipt of appeal within
(a)3 months
(b)4 months
(c)180 days
(d)1 year

Q.5. The Correction any clerical or arithmetical mistake in Recovery Certificate has to be done by (Certificate issued by the Presiding Officer)
(a)Concerned Clerk himself
(b)The Presiding Officer of the Tribunal
(c)The Recovery Officer
(d)Any one of them

Q.6. The Recovery officer while carrying out his job, a third party is affected. Then he can file an appeal-
(a)Within 30 days
(b)To the Tribunal
(c)Both A & B are correct
(d)Both A & B are wrong

Q.7. Who is not the public servant as per the Section 21 of the Indian Penal Code?
(a)The Chairperson of an Appellate Tribunal
(b)A Director of a Public Limited Company
(c)The Recovery Officer
(d)The Presiding Officer of a tribunal

Q.8. The DRT issues Recovery Certificate to the applicant. Recovery Officer has to proceed to recover the amount specified in the Recovery Certificate, by adopting
(a)Attachment and sale of movable and immovable property of the defendants
(b)Arrest of the defendant and his detention in prison
(c)Appointment of a receiver for the management of the movable and immovable properties of the defendant.
(d)Any one of the above

Q.9. Any person aggrieved by the order passed by the Tribunal or deemed to have been passed by the Tribunal under DRT Act, may prefer an appeal to the concerned Appellate Tribunal.
(a)Within 45 days form the date on which copy of the order is received.
(b)If the order was made by the Tribunal with the consent of the parties no appeal possible
(c)Both a & b
(d)Within 60 days from the date on which copy of the order is received

Q.10. Bank V has moved the DRT for justice. Before the final order is passed Bank C who have also advanced to the same borrower has approached the DRT for inclusion in the same proceedings.
(a)Permissible
(b)Not permissible
(c)Not permissible since both the contracts are different
(d)DRT would not entertain and advise the bank to file a separate case

Solutions

S1. Ans.(a)
Sol. Correct

S2. Ans.(c)
Sol. No fees required to be paid

S3. Ans.(d)
Sol. Appointed by the GOI

S4. Ans.(c)
Sol.180 days

S5. Ans.(b)
Sol. The Presiding Officer of the Tribunal

S6. Ans.(c)
Sol. Both A & B are correct

S7. Ans.(b)
Sol. A Director of a Public Limited Company

S8. Ans.(d)
Sol. Any one of the above

S9. Ans.(c)
Sol. Both a & b

S10. Ans.(a)
Sol. Permissible

         

JAIIB Legal and Regulatory aspects of banking notes pdf

Indian Institute of Banking & Finance conducts examination for JAIIB/DBF every year two times. This exam gives the growth opportunities to the existing bank employees. The primary objective of the JAIIB exam is to check the basic knowledge of candidates in banking and financial services, making healthy customer relations, basic accountancy and legal aspects necessary for carrying out day to day banking operations.

JAIIB/DBF exam consists of three exams:

JAIIB Paper-1: Principle and Practices of Banking (PPB): The Paper has 5 modules which are:-

  • PPB – Module – A – Indian Financial System
  • PPB – Module – B – Functions of Banks
  • PPB-Module-C – Banking Technology
  • PPB – Module – D – Support Services-Marketing of Banking Services/Products
  • PPB – Module – E – Ethics in Banks and Financial Institutions

JAIIB Paper-2: Accounting And Finance For Bankers (AFB): The Paper has 4 modules which are:-

  • AFB – Module – A – Business Mathematics and Finance
  • AFB – Module – B – Principles of Bookkeeping and Accountancy
  • AFB – Module – C – Final Accounts
  • AFB – Module – D – Banking Operations

JAIIB Paper-3: Legal & Regulatory Aspects Of Banking (LRB): The Paper has 4 modules which are:-

  • LRB – Module A – Regulations and Compliance
  • LRB – Module B – Legal Aspects of Banking Operations
  • LRB – Module C – Banking Related Laws
  • LRB – Module D – Commercial Laws With Reference To Banking Operations

To complement the preparation of JAIIB/DBF exam of the aspiring bankers, here at ADDA 247, we are launching JAIIB/DBF Study Materials. This material will help all the JAIIB/DBF aspirants in sailing through the exam. Click on the below link to download the JAIIB/DBF Study Material.

Download the JAIIB Legal and Regulatory aspects of banking notes PDF from the link given below.

JAIIB/DBF Study Materials: Download PDF (Part-1)

JAIIB/DBF Study Materials: Download PDF (Part-2)

All the candidates appearing for the JAIIB/DBF exam are advised to read the above material and hence complement their JAIIB exam preparation. You can also attempt the quizzes to add a plus point in JAIIB/DBF exam.

                           

All the Best BA’ians for JAIIB/DBF!!