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FREE MOCK TEST 2022 JAIIB | CAIIB | PROMOTION AND CERTIFICATION

FREE MOCK TEST 2022 JAIIB | CAIIB | PROMOTION AND CERTIFICATION

 

WHY YOU SHOULD PREPARE FOR A MOCK TEST?

Mock test are basically replicated tests that are based on the exam’s pattern. The main aim of mock tests is to judge the potential of candidates before they write the actual exams. 

Any preparation for an exam is not complete without practicing the topics or subjects one is studying. To get the best results, one needs to test their preparation. Practicing mock tests provides a better perspective of the kind of questions that can be expected in the exam. 

Following are the reasons why you must prepare mock tests:

  • Practice:

Solving Mock tests provide good means of the practice of the paper beforehand. They reaffirm the concepts in the minds of the candidates and also increase the problem-solving speed and help to know which subject(s) he or she is weak and to prepare better.

  • Time Management:

Mock test papers help students estimate how much the questions will take in the exam. Accordingly, the candidates can have a reasonable idea about what time they should allot for numerical & theory questions.

Important Topic:- JAIIB EXAM DATE 2022: ELIGIBILITY, SYLLABUS AND EXAM PATTERN

  • Clear doubts:

When solving the mock tests, one can mark questions in which some doubts arise, and then one can get them cleared before the examinations. This ensures that all the conceptual doubts will be cleared by the final exams.

  • Analyze the preparation and performance:

Mocks give you a reality check on the effectiveness of your preparation. Mocks help you remember the concepts and shorten the chances of forgetting topics at the D-day.

  • Gives a feeling of actual exam:

With mock tests, one gets familiarized with the actual exam scenario. And therefore, candidates are mentally prepared for the exams & get the desired confidence before they sit for the exams!

You can sign up at Learning Sessions & can get benefit from our Free practice tests, and a report of your performance. 

Important Topic:- JAIIB 2022 EXAM STUDY MATERIAL

While you can go and sign up on our website, you can also solve the questions that we provide you here in this section. You can easily access the free mock tests of the following examinations:

  • JAIIB
  • CAIIB
  • BANK PROMOTIONS (ALL SCALES)
  • IIBF CERTIFICATIONS
      • CCP – Certified Credit Professional
      • KYC AML – Know Your Customer & Anti-Money Laundering
      • Digital Banking
      • MSME – Micro, Small & Medium Enterprises
      • Prevention of Cyber Crime & Fraud Management

Important Topic:- JAIIB Exam 2022 Syllabus

You can find the full mock test series at our android & iOS App. Download the app & prepare to successfully pass your JAIIB & CAIIB in the NOV/DEC 2022 Exams (links given at the end).

 

JAIIB 2022 FREE MOCK TEST:

JAIIB | PPB – Principles & Practices of Banking Free Mock Tests 2022

No. JAIIB Questions on PPB Subject
1 Which of the following sectors do not come under the classification of scheduled banks?

a. Public Sector Banks

b. Private Sector Banks

c. Foreign Banks

d. None of the above

2 Which one of the following is not a Non-fund-based service?

a. Collection of bills & documents

b. Letter of Credit (LCs)

c. Discounting of Bills

d. Bank guarantees

3 Which of the options form the three layers of packaging?

a. Primary, secondary & tertiary packaging

b. Primary, secondary & shipping packaging

c. Shipping, inner & outer packing

d. None of the above options

4 The objectives of price can be what of the below options?

a. Profit

b. Market share

c. cash flow

d. All the above options

5 The small companies created exclusively to deal with Govt Securities are known by what name?

a. MFs: Mutual Funds

b. Primary Dealers

c. FIIs – Foreign Institutional Investors

d. NBFCs – Non-Banking Financial Companies

6 What kind of agreement Mandate is? 

(i) Stamped, (ii) Unstamped

a. Only (i)

b. Only (ii)

c. Either (i) or (ii)

d. Both (i) and (ii)

7 Whose signatures a One rupee note bears?

a. Governor of Reserve Bank of India

b. Secretary, Ministry of Finance

c. Prime Minister of India 

d. Finance Minister of India

8 For what duration Retail loans are generally given for?

a. 2 to 7 years

b. 2 to 5 years

c. 5 to 7 years

d. None of the above durations

9 Breakdowns in internal controls represent what kind of the following risks?

a. Market Risk

b. Operational Risk

c. Credit Risk

d. All of the above risks

10 Which of the following situations could threaten to physically damage the hardware?

a. Natural Calamities

b. Fluctuations in Power

c. Electro-Magnetic Effects

d. All of the above situations

 

Important Topic:- JAIIB 2022 EXAM STUDY MATERIAL 

ANSWER KEY (JAIIB-PPB)
1 c 6 b
2 c 7 b
3 b 8 c
4 d 9 b
5 b 10 a

 

JAIIB PPB Principles and Practices of Banking Short Notes Part 1

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JAIIB | AFB – Accounting & Finance for Banking Free Mock Tests 2022

No. JAIIB Questions on AFB Subject
1 Ankush wants to sell his fridge. There are two offers before him, one at cash payment of Rs. 26,200 and another at a credit of Rs. 26,500 that will be required to be paid after 6 months. If the money being worth 6.25% per 

annum at simple interest, which offers from the tow is better?

a. Both are equally good

b. Rs. 26,200 in cash

c. Rs 26,500 due 6 months

d. None of the options

2 The theory of interest rate parity postulates what of the following?

a. interest rates should always be same in 2 countries

b. spot rate & the forward exchange rate difference should reflect the differences in rates of interest between two countries but in the opposite direction

c. spot rate & the future spot rate difference must reflect the interest rate difference between two countries in the opposite direction 

d. None of the above options

3 Simran sends 100 watches to Bindu at an invoice price of Rs. 1,200 which is ‘cost + 20%’. 10 watches get lost in transit and an amount of Rs. 8,000 is received from the insurance company in full settlement for the loss. The amount to be credited to Consignment account being abnormal loss would be?

a. Rs. 2,000.00

b. Rs. 8,000.00

c. Rs. 10,000.00

d. Rs. 12,000.00

4 Under Fixed Capital Method, for each of the firm partner, which of the following account(s) is/are maintained?

a. Partner’s Capital Account

b. Partner’s Current Account

c. Both, Partner’s Capital & Current Account

d. Any one of the two (a or b)

5 To what does the rate of return equal to if interest rates do not change during the pendency of the bond period?

a. yield to maturity (YTM)

b. coupon rate (CR)

c. compounded rate 

d. current yield

6 Errors of Commission arise in which of the following cases?

a. When a transaction is incorrectly recorded either wholly or partially 

b. When a transaction is left out wholly or partially

c. When a transaction is recorded in a fundamentally incorrect manner 

d. In all the above cases

7 For opening accounts in the case of Joint Hindu Undivided Family i.e. JHUF, which of the following document(s) is/are important?

a. Declaration by all guardians on minors’ behalf

b. Declaration by all family members

c. Declaration by the Karta of the JHUF

d. Hindu Succession Act exempts the requirement for declaration

8 Which of the following statement(s) is/are not true in respect of contingent liabilities?

(i) Expenses not provided for them, it includes liability on account of letter of credit, letter of guarantee, for which provisions not made etc., 

(ii) Current liabilities, which are required to be repaid immediately, 

(iii) It is Net worth of the party

a. Only (i) & (ii)

b. Only (i) & (iii)

c. Only (ii) & (iii)

d. (i), (ii) & (iii)

9 A woman retire at the age of 60 years and her employer gives her a pension of Rs. 12,000 a year which is paid on half-yearly installments for the rest of her life. Supposing her expected life will be 13 years and that interest is @4% p.a. payable half-yearly, what single sum will be equivalent to this pension?

a. Rs. 3,00,000.00

b. Rs. 1,50,000.00

c. Rs. 2,46,500.00

d. Rs. 1,20,750.00

10 Which of the following statements is true for Zero coupon bonds?

a. They do not carry any interest. They are issued at a lower price than their redemption value

b. They carry a fixed rate of interest that is payable at the time of redemption of the bonds

c. Bears zero risk i.e no risk at all.

d. All of the above options are incorrect

 

ANSWER KEY (JAIIB-PPB)
1 b 6 c
2 b 7 c
3 c 8 c
4 c 9 d
5 a 10 a

 

JAIIB AFB Notes – Accounting & Finance for Banking Short Notes Part 1

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JAIIB | LRAB – Legal & Regulatory Aspects of Banking Free Mock Tests 2022

No. JAIIB Questions on LRAB Subject
1 Cyber Laws in India are contained in which of the following acts?

a. Cyber-Technologies Act, 2000

b. Information Technology Act, 2000

c. Cyber Law of India

d. Information and Cyber Technology Act, 2000

2 If banking company gets rejected in getting the banking license, then which of the following statement is true?

a. it can carry the banking business after getting special permission of Central Government

b. it can carry the business as a money lender instead

c. it can carry the banking business in one State after getting the permission of State government

d. it cannot carry the banking business after 5 years after the rejection

3 If a person seeks information from a public authority, what does he have to do of the following?

a. he or she has to provide reasons for seeking the information

b. he or she does not have to give reasons for seeking the information

c. if the reasons for seeking information are given, that can help in quick disposal of the request for information

d. information cannot be provided by the public authority without them knowing the reasons for the information sought

4 Which of the following given statement is an important feature of a Trust Receipt?

a. the borrower has to recognise the right of the bank in the goods as a security 

b. the borrower has to undertake to hold the goods in trust for the bank

c. in case sale proceeds are realized, the borrower have to deposit the amount in the bank account

d. if goods remain unsold, the borrower shall keep the goods until they are sold and in no case should return the goods to the bank

5 State Bank has to act as what to carry out Central Government business and other business entrusted by the RBI?

a. agent of Reserve Bank of India

b. agent of Central Government of India

c. advisor to the Central Government of India

6 Against which of the following types of FDRs, the loan can be allowed by the bank to Aman?

a. the FDRs that are issued by another bank in the name of Aman

b. the FDR that are issued by the bank in name of minor child of Aman i.e ‘Simran’

c. the FDRs that are issued by the bank in the name of Aman jointly with his wife which will be discharged by both of them 

d. the FDR in the name of Aman kept by him as his client’s money.

7 Which of the following options is correct regarding loan that is given to directors of other banks or relatives of directors of their own bank or directors of other banks?

a. In all given cases, loan can be sanctioned by appropriate authority but it should be reported to Board of Directors of the sanctioning Bank

b. In all given cases, loan cannot be granted without getting approval of the Board of Directors of lending Bank.

c. Loan of Rs. 25,00,000.00 and above can be granted only after obtaining sanction of the Board of Directors of lending bank

d. Loan of less than Rs. 25,00,000.00 can be sanctioned by appropriate authority but it should be reported to Board of Directors of sanctioning Bank

8 Among the following documents which are not mandatory to be submitted to the registrar along with application of incorporation by a private company?

a. Registered offices’ Address & undertaking

b. Undertaking & statement of capital

c. statement of capital & the list of directors

d. list of directors and undertaking

9 On giving default notice by the creditor to borrower, the borrower gives a reply to it. What should the creditor do?

a. He should ignore the notice as the law does not provide for any reply option.

b. He should wait till the borrower initiates any legal action based on his reply.

c. He should give due it consideration case by the Supreme Court and reply to it.

d. He should take the matter before DRT for resolving the issues that are raised in reply.

10 If a property is mortgaged in favour of bank as security for a loan and later on certain arrears of tax against the property are noticed, which of the below statement is true?

a. the recovery of bank loan shall have priority

b. the recovery of arrears of taxes shall have priority

c. there will be pro-rata sharing of sale proceeds of security for both

d. the arrears of tax shall be recovered first and if there is any deficit, the bank will have to pay up the deficit.

 

ANSWER KEY (JAIIB-LRAB)
1 b 6 c
2 b 7 c
3 b 8 a
4 d 9 c
5 b 10 b

 

JAIIB LRAB Notes – Legal & Regulatory Aspects of Banking Short Notes Part 1

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CAIIB 2022 FREE MOCK TEST:-

CAIIB | ABM – Advanced Bank Management Free Mock Tests 2022

No. Questions – CAIIB (MCQs on Advanced Bank Management)
1 If the demand for the goods is inelastic, an increase or rise in its price will cause the total expenditure of the consumers of the good to ________.

 

a. Increase the expenditure

b. Decrease the expenditure

c. Expenditure will remain the same

d. Expenditure will become zero

2 A supply curve is different from a supply schedule because a supply curve _____. Complete the sentence.

 

a. holds the no. of supplier’s constant, whereas the supply schedule allows the no. to vary.

b. holds prices of resource constant, whereas the supply schedule allows them (prices) to vary.

c. is a graph and the supply schedule is basically a table.

d. represents one firm, whereas the supply schedule represents all firms (larger scale) in the market.

3 What is the difference b/w the quick ratio & current ratio?

 

a. The current ratio includes inventories while quick ratio does not.

b. The current ratio does not include inventories while the quick ratio does include inventories.

c. The current ratio includes physical capital while the quick ratio does not.

d. The current ratio does not include physical capital while the quick ratio does.

4 What is the characteristic of an adult ego state, out of the following options?

 

a. It is more of ethical, conscientious behavior and gets influenced by preaching from parents and elders

b. It is more of rational, analytical & practical orientation

c. It is more of instinctive behavior with the motive of enjoyment

d. It is more of everything

5 A firm that often factors its bills receivable has made an agreement with its finance co. that requires it (firm) to maintain a 6% reserves and charges 1% commission on the receivables’ amount.

The net proceeds from the bills would be further reduced by an annual interest charge of 10% on the monies that are advanced. Assuming 360 days in year, what amount of cash (rounded to the nearest rupee) that the firm will receive from the finance company at the time a Rs. 100,000.00 account that is due in 90 days is turned over to the finance company?

 

a. Rs. 93,000

b. Rs. 90,000

c. Rs. 83,700

d. Rs. 90,675

6 The Kinked demand curve in Sweezys oligopoly model emerges because of which of the following assumption?

 

a. when one seller increases or decreases his products’ price, other sellers follow

b. When one seller decreases his products’ price others sellers also follow him

c. when one seller decreases his price other seller also follow but when he increases his price others do not follow

d. when one seller increases his products’ price, others decrease their products’ prices

7 In deciding the optimal level of current assets for the firm, management has to face with which of the following situation?

 

a. a trade-off b/w profitability & risk

b. a trade-off b/w risk & liquidity

c. a trade-off b/w debt & equity

d. a trade-off b/w short-term versus long-term borrowing

8 The working capital requirement (WCR) refers to what of the following?

 

a. inventories + receivables – payables + prepayments – accruals

b. working capital + short-term debt + cash

c. working capital + short-term debt + cash

d. inventories + receivables – payables

9 Forecasts used for new product planning, capital expenditure, facility location or expansion and R&D typically utilize what kind of horizon?

 

a. short-range time horizon

b. medium-range time horizon

c. long-range time horizon

d. naïve-method as there is no data history

10 A restrictive monetary-fiscal policy is a good way to deal with what of the following situation?

 

a. Demand—shift inflation

b. Any short of inflation that occurs when the economy falls below full employment

c. Demand—pull inflation

d. Cost—push inflation

 

ANSWER KEY (CAIIB-ABM)
1 a 6 c
2 c 7 a
3 a 8 a
4 b 9 c
5 d 10 b

 

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CAIIB | BFM: Bank Financial Management Free Mock Tests 2022

 

No. Questions – CAIIB (MCQs on Bank Financial Management)
1 What is an important operational feature of integrated treasury from the following options?

a. Having a dealing room that is common for all

b. Having a Mid or back offices that are common for all

c. Looking for interest arbitrage across currency markets and be in a position to shift swiftly, a placement in Rupee denominated commercial paper (CP) to lending in US Dollars in global interbank market and also being able to source funds in global markets & swap the funds into domestic currency or vice-versa depending on the market opportunities

d. All the above features are important

2 In case of free currencies, forward premium or discount equals to the difference b/w ________.

a. Risk-free interest rate of the 2 currencies

b. Inflation rate in the 2 countries

c. Tom rate & Spot rate

d. RBI & LIBOR reference rate

3 Which of the following are conditions are required for issuing a commercial paper (CP)?

(i) The company issuing commercial paper (CP) should have minimum credit rating of P2, 

(ii) Banks can invest in commercial paper (CP) only if the bank has issued the CPs in Demat form, 

(iii) The minimum amount of CP should be Rs. 5,00,000.00

a. Only (i) & (ii)

b. Only (i) & (iii)

c. Only (ii) & (iii)

d. (i), (ii) & (iii)

4 What are the prudential exposure limits for single & group borrowers in other than infrastructure projects?

a. 15% of the capital (i.e Tier I & Tier II Capital) of the Bank for single borrower and 40% for the group of borrowers

b. 25% for individuals & 50% for group of borrowers

c. 20% of the capital of the Bank for individuals & 50% for the group of borrowers

d. None of the above limits

5 A bank’s treasury portfolio is worth Rs. 9,500 Cr. Its 10 days VaR at 90% & the confidence level is Rs. 265 Cr. This implies that under normal circumstances the daily loss_________. 

(Assume 250 working days in a year)

a. Daily loss may not exceed Rs. 83.80 Cr for 225 days in a year.

b. Daily loss may exceed Rs. 265 Cr. for 25 days in a year.

c. Daily loss may exceed Rs. 83.80 Cr. for 20 days in a year.

d. Daily loss may exceed Rs. 26.50 Cr. for 25 days in a year.

6 On 15th June, a customer presented a sight bill for USD 1,00,000 for purchase under Letter of Credit. Transit period is 20 days & Exchange margin is 0.15%. The spot rate being 34.80/90. Forward differentials for July: 0.65/0.57, Aug: 1.00/0.97, Sep: 1.40/1.37 

How much amount will be credited to the Exporter account?

a. 28.0988

b. 34.0988

c. 44.0988

d. 40.0988

7 Defamed Bank made an investment in government Bonds worth Rs 5,00,00,000.00. The maturity period of the said bonds is 5 years, the face value being Rs. 100 while the coupon rate is 8%. The govt. bond has a market yield of 10% & is priced at Rs.92.00 due to change in interest rates, the market yield change to 9.90% & the market value to Rs. 92.50.

Based on the above information, you need to calculate the basis point value of the bond.

a. 0.02

b. 0.05

c. 0.10

d. 0.20

8 Frank Bank has entered into forward contract of options with an export customer which means _________.

a. The bank has the option to accept or to reject delivery of option under the contract

b. The customer has the option to deliver or not to deliver the foreign exchange under the contract

c. The customer has the option to deliver the foreign exchange during the period of options

d. The bank has the option to accept foreign exchange under the contract during the period of option

9 As per an economist the exchange rate b/w the 2 currencies as what of the following?

a. Amount of one currency that must be paid in order to get a single unit of another currency

b. Difference b/w T. exports & T. imports within a country

c. Price at which the sales & purchases of foreign goods takes place

d. Ratio of import prices to the export prices for a specific/particular country

10 In a scenario where interest rates are rising, the risk of erosion is on account of what of the following?

a. Advances with floating interest rates and the deposits with fixed interest rate

b. Advances with fixed rates & deposits with floating rates

c. Deposits with floating rates & advances with floating rates

d. Deposits with fixed rates & advances with fixed rates

 

ANSWER KEY (CAIIB-BFM)
1 d 6 b
2 a 7 b
3 d 8 c
4 a 9 a
5 a 10 b

 

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CAIIB ELECTIVE FREE MOCK TEST:

CAIIB | Rural Banking Free Mock Tests 2022

No.

Questions – CAIIB (MCQs on Rural Banking)

1 Which of the following is incorrect regarding margin money (subsidy) under PMEGP (Prime Minister Employment Generation Programme)?

a. Subsidy has to be kept in the Term Deposit Receipt (TDR) of 3 years

b. No interest will be paid on the TDR & no interest will be charged on loan on corresponding amount of such TDR

c. Subsidy will be credited to the Borrowers loan account after 3 years are over from the date of first disbursement of loan to the borrower

d. If loan goes bad before the requisite period of 3 years, due to reasons that are beyond the beneficiary’s control, then subsidy can be credited to loan account before 3 years

2 Which of the following is does not come under the agricultural advance?

a. Loans for setting up of Agribusiness Centres & Agriclinics

b. Bank loans provided to PACS: Primary Agricultural Credit Societies, FSS: Farmers’ Service Societies and LAMPS: Large-sized Adivasi Multi-Purpose Societies for on-lending to agriculture

c. Loans sanctioned by banks to MFIs (Microfinance institutions) for on-lending to agriculture sector

d. Outstanding deposits under Soros Economic Development Fund (SEDF) and other eligible funds with SIDBI on account of priority sector shortfall

3 As per the revised guidelines of RBI that were operational w.e.f April 23, 2015, there are 8 categories under Priority Sector. Which of the following pair one of its categories?

a. Infrastructure of Agriculture; Retail trade & Financial inclusion.

b. Credit for Export; Education & Housing

c. Social Infrastructure; Renewable Energy & Others.

d. Agriculture & MSME: Micro, Small and Medium Enterprises

4 As per the revised guidelines, now there is no distinction between direct and indirect agriculture. Instead, the agriculture sector lending now has been redefined to include 3 categories. Which of the following is not a part of the categories?

a. Farm Credit (that includes short-term crop loans and medium or long-term credit to the farmers)

b. Non-Farm Credits 

c. Activities of Ancillary nature

d. Infrastructure of Agriculture

5 As per RBI’s revised guidelines, the domestic banks export target, would be classified as priority sector to the extent of incremental export credit over corresponding date of the preceding year, up to what % of ANBC or CEOBE, w.e. is higher, effective from 1 April, 2015 subject to a sanctioned limit of Rs. ______ per borrower to units having turnover of up to Rs. _______ .

a. 2; 50,00,00,000; 75,00,00,000

b. 2; 25,00,00,000; 100,00,00,000

c. 2; 50,00,00,000; 105,00,00,000

d. 5; 50,00,00,000; 100,00,00,000

6 Loans for housing projects are exclusively for the purpose of house construction for low-income groups & economically weaker sections, the T. cost of which < Rs 10,00,000.00 per dwelling unit for identification of economically weaker sections & low-income groups, the annual income of family should < _______.

a. Rs 50,000.00 in rural areas & Rs 1,00,000.00 in other areas

b. Rs 1,00,000.00 in rural area & Rs 2,00,000.00 in other areas

c. Rs 1,60,000.00 irrespective of location

d. Rs 2,00,000.00 irrespective of location

7 Which of the following is incorrect in respect of PMEGP scheme?

a. Both existing as well as new projects are eligible

b. Only 1 person from single family is eligible

c. Family includes beneficiary and spouse

d. No concession in interest rate

8 IBPC: Inter Bank Participation Certificates are bought by banks, on a what of the following basis that are eligible for classification under respective categories of priority sector, provided that the underlying assets are eligible to be categorized under the categories of priority sector respectively & the banks fulfil the RBI guidelines on IBPCs?

a. On the basis of Risk-sharing

b. On the basis of Credit

c. On the basis of Profit-sharing 

d. None of the above given basis.

9 You have sanctioned a Cash Credit (Hyp) limit of Rs.3,00,000.00 to a Private Retail trader. The same to be classified under which of the below sectors?

a. Private retail trade under non-priority sector

b. Private retail trade under priority sector

c. Small & Micro services under priority sector

d. It depends solely on the discretion of the bank

10 Which of the statements from the following options regarding RIDF (Rural Infrastructure Development Fund) is incorrect?

a. Domestic banks deposit shortfall in priority sector lending targets, agriculture lending in RIDF or weaker section lending

b. RIDF corpus is estimated on annual basis

c. Interest is Bank Rate which ranges from 2% to 4% and deposit period for RFID is determined by RBI

d. Amount deposited in RIDF by banks is not an eligible for priority sector classification as investment

 

ANSWER KEY (CAIIB-Rural Banking)

1 d 6 d
2 d 7 a
3 a 8 a
4 b 9 c
5 b 10 d

 

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CAIIB | RETAIL BANKING Free Mock Tests 2022

No.

Questions – CAIIB (MCQs on Retail Banking)

1 Any profit or gain that arises on account of sale or transfer of a capital asset is chargeable to tax under the head of ‘capital gains’ while Capital asset means any property (whether movable or not, tangible or not). Transfer, in reference to capital asset, includes sale or an exchange of the asset. Which of the following assets are included in the definition of capital assets?

a. Stock-in-trade, stores & raw material

b. Personal effects i.e excluding Jewellery

c. Agricultural land outside the municipality or notified area limits.

d. None of the are included in capital asset

2 Mrs. Dhanushi working as a Gazetted Officer in a govt. Dept. having 20 years of left-over service was recently transferred to Ludhiana. She approached a bank branch & requested that she is in pursuit of a good house or apartment in Ludhiana for immediate purchase & she requires in principle sanction. Whether the Bank can accept her request? If so, for how many months is it valid?

a. No, bank cannot accept her request

b. Yes, it will be valid for 1 month

c. Yes, it will be valid for 3 months

d. Yes, it will be valid for 6 months

3 The bank branch is the primary direct channel that runs Retail Banking for which of the following reasons?

a. The bank branches tangibilize the intelligible nature of banking service.

b. Personnel at the branches relate with the customer for their transactions.

c. Because communication happens directly b/w the bank staff & customer.

d. All the above reasons.

4 Which of the following is the facility that a Mobile Banking customer cannot utilize?

a. Use of banking facilities from anywhere

b. Payment of utility bills and Transfer of funds b/w accounts of same bank and other banks

c. Withdrawal of cash anywhere anytime

d. Enquiry of Balance and shopping and paying through mobile

5 Process models in retail banking are structured as per what of the following models?

a. Horizontally Organised Model in which an individual process platform supports only one product.

b. Vertically Organised Model in which functionality is provided across all products.

c. Predominantly horizontally organised model is majorly product oriented with common customer information for some of the products.

d. Any one of the above models could be used

6 Which facilities of mobile banking “UMOBILE” that comes with a tagline “Bank in Your Pocket” (launched by Union Bank of India) is not available to its customers?

a. Enquiry of Balance.

b. Regular cash withdrawals from account.

c. Fund transfer within the bank b/w two registered customers.

d. Transfer b/w other bank accounts using NEFT platform.

7 Which of the following is not Ernest T. Parkins’ observation from the USA that Internet Banking, going forward, will have great implications?

a. Internet Commerce

b. E-retail banking & new types of e-retail payments

c. The products for retail banking has been broadly rejected by the banks customers

d. Movement of retail financial services to e-delivery including insurance, brokerages, discount, and MF services

8 Which of the following is a procedural part that is adopted to avail Mobile Banking facility?

a. Customers should use a mobile that has- SMS / GPRS / GPRS & J2ME facility.

b. Bank Customers having Savings or Current or Cash Credit (CC) accounts are eligible to avail Mobile Banking Facility.

c. One-time physical presence of the bank customer at the bank branch & tendering the form of application is a must as per guidelines of RBI.

d. After registration of the request for mobile banking in CBS gets the  approval, the application form is to be retained.

9 Which of the following is correct about overdrafts to no frills to be treated as priority sector?

a. Overdrafts to No frills a/c upto maximum Rs.50,000/‐

b. Overdrafts to No frills a/c upto maximum Rs.40,000/‐but within rural areas only.

c. Overdrafts to No frills a/c upto maximum Rs.60,000/‐in rural & semi urban areas.

d. Overdraft upto Rs.50,000/‐ per a/c granted in no frills a/c or basic banking saving a/c provided, borrowers threshold income limit < Rs.60,000/‐in rural and Rs.120,000/‐ in non-rural areas.

10 Which one is incorrect in case of Reverse Mortgage Loan?

a. Reverse Mortgage Loan, seeks to generate income from the property that is owned and resided in by senior citizens so as to enable them have dignified and independent life

b. A senior citizen > 60 years is eligible for a reverse mortgage loan against his or her own & self-occupied residential property.

c. Married couples as joint borrowers are also eligible for this loan provided that one of them is > 60 years and the other > 55 years.

d. The maximum period of the Reverse Mortgage loan is 10 years. If the borrower outlives this period, he/she can continue to retain the property and are not required to repay the loan or service the interest.

 

ANSWER KEY (CAIIB-Retail Banking)

1 d 6 b
2 c 7 c
3 d 8 c
4 c 9 d
5 d 10 d

 

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CAIIB | HUMAN RESOURCE MANAGEMENT Free Mock Tests 2022

 

No.

Questions – CAIIB (MCQs on HRM)

1 In the assessment center workshops method, in a job-related simulated situation, the employees’ behavior is assessed through their performance in which of the following different exercises?

(i) psychometric tests, group discussions,

(ii) committee meetings, business games,

(iii) in-basket exercises

 

a. Only (i)

b. Only (i) & (ii)

c. Only (ii) & (iii)

d. (i), (ii) & (iii)

2 Ms. Anuradha is the Branch Manager in Arithvasta Bank. She makes it a point to visit the prominent deposit customers herself to deliver their receipts of deposit. She does not even take the “Relationship Manager” appointed for this specific purpose. Ms. Anuradha believes that the staff of new generation is not good enough to deal with such tasks. What is this position called as per the “Theory of Life position” (propounded by Dr. Thomas Harris) that is taken by Mr. Anuradha as regards the “Relationship Manager”?

 

a. I are OK, you are OK

b. I am Ok, you are not OK

c. I am not OK, you are not Ok

d. I am not OK, you are not OK

3 Mr. Spandan is a brilliant manager in Gitangli Bank. He is one of the few persons who were picked by the top management from an IIM after their MBA. He is always seen on his 2 phones at a time and he boasts about having no patience with the laggards. Often, he can also be heard yelling at staff on small issues. What type of person is Mr. Spandan?

 

a. Type A personality

b. Type B personality

c. Type C personality

d. Type D personality

4 Which of the following statements are correct?

(i) Caring boss presents the ego state of a Nurturing Parent,

(ii) Personality is an aggregate of all that a person has learnt,

(iii) We have an image of our own in our minds & our actions are consistent with that image of us

 

a. Only (i) & (ii)

b. Only (i) & (iii)

c. Only (ii) & (iii)

d. (i), (ii) & (iii)

5 The most appropriate criticism of the empowerment concept concerns with what of the following?

 

a. the balance b/w customers’ wishes & their efficiency.

b. there is limited evidence for any shift that happens towards a substantially more empowered workforce.

c. the over-empowerment of some employees.

d. the limited text or study or theorizing of the concept.

6 Which statement is true in respect to defined benefit plan?

 

a. an employee will receive a lump sum amount on his/her retirement

b. the survivors will receive the benefits if the employee dies before the retirement funds are paid out

c. employee can move to another job and carry their account of retirement along there

d. benefits received upon retirement depends on the employee’s age & length of service they have given

7 What refers to Boundary crossing?

 

a. It creates internal organizational conflict among different departments because they compete to generate new practices.

b. Boundary crossing is focused upon achieving internal organizational integration among various organizational roles & units in order to generate synergy & creativity.

d. It occurs when organizations step into new areas of the market.

c. It undermines the organization integration through the break-down of the departmental boundaries.

8 In a business’s organizational life cycles’ during the maturity stage, the firm ___________.

 

a. makes stock options available to limited no. of employees of organisation

b. provides the employees few short-term incentives

c. offers a salary base that is at or below the market level

d. uses its compensation system to retain its employees in the organisation

9 ‘Jock & Leather’ (a multinational company) that manufactures leather products employs 3rd-country nationals (TCNs) as its managers. How is the employment of TCNs benefit the company?

 

a. Hiring TCNs increases the opportunities for parent-company nationals (PCNs) to obtain overseas experience.

b. Because their salary & benefit requirements for are generally lower than what are given/paid to PCNs.

c. Because the host countries welcome the hiring of TCNs as they are usually more cooperative with the company.

d. TCNs are happy (eager) to return to their own country when they finish their assignments for the parent company, thus, company get its task done in shorter time.

10 Why do some commentators claim that it is unlikely that the UK economy (anytime soon) will become a knowledge economy?

 

a. Due to lack of education of Information Technology in its schools.

b. Because they are culturally low in intelligence.

c. The history shows low levels of company investment into R&D.

d. Because its unions try to prevent knowledge transfer from the top level to the broader workforce at low levels.

 

ANSWER KEY (CAIIB-HRM)

1 d 6 d
2 b 7 b
3 a 8 d
4 d 9 b
5 b 10 c

 

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CAIIB | INFORMATION TECHNOLOGY Free Mock Tests 2022

 

No.

Questions – CAIIB (MCQs on IT)

1 Which of the following option does not match in the context of Unique Transactions Reference (UTR) number “XXXXRCYYYYMMDDnnnnnnnn”?

 

a. XXXX are the first 4 characters of IFSC of receiving participant

b. R is RTGS and C is channel of transaction

c. YYYYMMDD refers to year, month and date of transaction respectively

d. nnnnnnnn refers to sequence no.

2 Which of the following is option represents the correct sequence of the steps that are involved in back-end card related transaction?

 

a. Processing of Transaction – Clearing – Settlement

b. Monitoring of Transaction – Transaction listing – Clearing – Collection – Settlement

c. Processing of Transaction – Hot listing – Collection – Clearing – Settlement

d. Encryption – Processing – Collection – Recovery – Settlement

3 If an electronic payment instruction is dishonored from a customers’ account, as per provisions of Payment and Settlement Systems Act, 2020, the punishment, which of the following is the correct punishment?

 

a. up to 1 year of imprisonment & fine equals to amount mentioned in the payment instruction

b. up to 2 years of imprisonment & fine equals to amount mentioned in the payment instruction

c. up to 1 year of imprisonment & fine equals (2x) to double the amount mentioned in the payment instruction

d. up to 2 years of imprisonment & fine equals (2x) to double the amount mentioned in the payment instruction

4 Wef 1.1.2011, as per RBI guidelines, for RTGS / NECS / ECS / NEFT Credit products, the destination banks are to afford credit to beneficiary’s account based on what of the following?

 

a. the account number and account name as furnished by remitter or originating bank in the message or data file

b. the account name as furnished by remitter or originating bank in the message or data file

c. the account number as furnished by remitter or originating bank in the message or data file

d. as per whatever basis has been mutually agreed by the sending and receiving bank

5 Under CTS 2010 Standards of Reserve Bank of India, the pantograph with embedded or hidden COPY or VOID feature shall be included in the cheques. This feature should be clearly visible in photocopies & scanned colored images. The objective is of this feature is to achieve what?

 

a. it is a deterrent against scanned colour images or colour photocopy of a cheque

b. it is a deterrent against alterations of material nature

c. it facilitates proper accounting

d. all of the above.

6 Which of the following is a feature of a real time system?

 

a. It’s the system where processing takes place in batches

b. It’s the system where the processing takes place on-line with time delays

c. in this system, processing takes place instantly without any time delay

d. It is the system where processing takes place within 1 hour

7 Which of the following statement is or are correct?

(i) Single purpose or Closed loop prepaid cards can be used at only specific places only such as merchant establishments and they cannot be used to withdraw cash,

(ii) Multipurpose or Open-loop pre-paid cards could be used for all types of transactions up to the loaded limit,

(iii) Gift card is an example of Single purpose or Closed loop prepaid card while Travel card is an example of Multipurpose or Open loop pre-paid card.

 

a. Only (i) & (ii)

b. Only (i) & (iii)

c. Only (ii) & (iii)

d. (i), (ii) & (iii)

8 In a MICR cheque, which of the following code does not match the with its description?

 

a. first 6-digit codes represent the number of cheque

b. central 09-digit code represents city, bank and branch code

c. last 2-digit code represents transaction code such as current or saving account

d. none of the above

9 What does hybrid attacks mean?

 

a. It’s an attempt to crack passwords with the use of words that can be found in dictionary.

b. It’s an attempt of cracking passwords by replacing the characters of a dictionary word with nos. & symbols.

c. It’s an attempt to crack passwords with the use of a combination of characters, numbers, & symbols.

d. It’s an attempt to crack passwords by replacing the characters with symbols or numbers.

10 Suppose, you are working as a computer forensics investigator for a large clothing manufacturing company and you get called in to investigate for an unusual case. In the case, an employee could be possibly stealing the clothing designs from the company and selling them to different company. What you discover during the investigation is that the clothing designs are actually designed by the employee and the company doesn’t have any policy against an employee who is selling his own designs on his own time. The only thing that can be found wrong is that his designs incorporate the company graphic symbol with only the wording in the graphic being different. What area of the law the employee is violating?

 

a. Brandmark Law

b. Trademark Law

c. Print right Law

d. Copyright Law

 

ANSWER KEY (CAIIB-IT)

1 a 6 c
2 a 7 d
3 d 8 d
4 c 9 b
5 a 10 b

 

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CAIIB | RISK MANAGEMENT Free Mock Tests 2022

No. Questions – CAIIB (MCQs on RISK MANAGEMENT)
1 What is RAROI (Risk Adjusted Returns on investment)?

(i) It is the process where a Risk in an investment or Business, is deducted against the returns from business or investment,

(ii) Higher the Risk Adjusted Return on the capital, higher will be the reward for investors,

(iii) The investors would have more performance for such investments

 

a. Only (i) & (ii)

b. Only (i) & (iii)

c. Only (ii) & (iii)

d. (i), (ii) & (iii)

2 Which one of the following statements is incorrect?

a. Large-variation in net cash flows happens in the Business with higher Risk.

b. Capital requirement would be lesser in higher Risk Business

c. The profit potential would be lower in a Business with a lower Risk

d. Lower the variation in net cash flow lower the Risk

3 Securitized instruments that originate from banks and are held by them to the extent of 5%, would require capital allocation by what of the following way?

 

a. 100% deduction from Tier I capital

b. 100% deduction from Tier II capital

c. 50% deduction from Tier I capital & 50% deduction from Tier II capital

d. 9% of risk weighted asset that is equivalent to the holding

4 The beta of a security is equal to what of the following?

 

a. the covariance b/w the security & returns of market divided by the variance of the market’s returns

b. the covariance b/w the security & market returns divided by the standard deviation of the market’s returns

c. the variance of the security’s returns divided by the covariance b/w the market & security returns

d. the variance of the return on security divided by the variance of the market’s returns

5 For every Rs.100.00 in assets, a bank has Rs. 40.00 in interest rate sensitive assets, and the rest (Rs.60) in non-interest rate sensitive assets. The same bank has Rs.50 for every Rs.100 in liabilities in interest sensitive liabilities, the other Rs.50 are in liabilities that are non-sensitive to interest rate. If the rate of interest on assets increases from 5 to 6%, and the rate of interest on liabilities increases from 3 to 4%. What will be the impact on the bank’s profits per Rs.100.00 of assets?

 

a. An increase of Rs.0.10

b. A decrease of Rs.0.10

c. A reduction of Rs.1.00

d. Constant because the rates of interest on assets & liabilities increased by the same amount

6 Which of the followings is or are the reason for mismatch Risk?

(i) Holding Assets & Liabilities having different dates of maturity and amount,

(ii) When there is an adverse movement in Rate of Interest,

(iii) When liability is repriced on a maturity ‘Z’ date & this causes variation in the Rate of Interest

 

a. Only (i) & (ii)

b. Only (i) & (iii)

c. Only (ii) & (iii)

d. (i), (ii) & (iii)

7 Bank ‘Madhuratana’ reports a 1-week Value at Risk of $1 Million @ 95% confidence level. Which of the below statements is most likely to be correct?

 

a. The daily return on the co. portfolio follows a normal distribution so that a one-week VaR could be computed.

b. The 1-week VaR at the 99% confidence level would be $5 Million

c. With probability at 95%, the company will not experience a loss > $95 Million in 1 week.

d. With probability 5%, the company will lose $1 Million or more in one week

8 Which of the following statement is not correct in regard to credit default swaps?

 

a. A CDS is, in effect, an insurance policy on the default risk of a corporate bond or loan.

b. CDS are designed to allow the lenders of credit to buy protection against losses on sizable loans.

c. CDS are designed to transfer the credit exposure of income products of variable nature b/w parties.

d. The swap buyer pays an annual premium to the seller of swap in exchange, and receives a payoff in case the credit instrument goes into default

9 Which of the below statement is correct with regard to Yield Curve Risk? (i) When Interest Rates are floating, Banks may price Assets & Liabilities on the basis of different instruments such as T-Bills, Call Money Rates, MIBOR etc,

(ii) A Bank needs to evaluate the Yield Curves movement and the impact of the curve on value of portfolio and income from such portfolio,

(iii) If a liability is raised through a T-Bill of 91 days and is used to fund an Asset for 364 days it could lead to Yield Curve Risk

 

a. Only (i) & (ii)

b. Only (i) & (iii)

c. Only (ii) & (iii)

d. (i), (ii) & (iii)

10 Suppose, Mr. Xerox takes a position in stock ‘Iris’ by buying 1,000 shares at Rs. 650 per share of ‘Iris’. The price of ‘Iris’ is expected to fluctuate at 3% daily (figure of volatility estimated from past data). Mr. Xerox estimates the daily potential loss to be Rs. 42,500 approximately. He intends to reduce this risk by 60% using stock futures. What would be his strategy?

 

a. Buy 600 stock futures

b. Sell 600 stock futures

c. Sell 400 stock futures

d. Buy 400 stock futures

 

ANSWER KEY (CAIIB-RISK MANAGEMENT)

1 d 6 b
2 b 7 d
3 c 8 c
4 a 9 d
5 b 10 b

 

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CAIIB | CENTRAL BANKING Free Mock Tests 2022

 

No. Questions – CAIIB (MCQs on CENTRAL BANKING)
1 Under which act, SMERA has been registered?

a. Securities and Exchange Board of India Act, 1992 (SEBI Act)

b. Reserve Bank of India Act, 1934 (RBI Act)

c. Banking Regulation Act, 1949 (BR Act)

d. Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999

2 Which one of the following options represents the advantages of the self-regulation over the financial markets’ statutory regulation?

a. Self-regulation will overcome the problem of agency capture

b. Self-regulation will lower down the compliance costs

c. Self-regulation preserves more effectively the reputation of financial markets for their honest and fair dealing

d. Self-regulation removes the problem of competitive laxity

3 What does the 3rd pillar of Basel II describe?

a. The 3rd pillar of Basel II describes the guidelines for calculation of the bank’s risk profile & capital requirement for market, credit and operational risk.

b. The 3rd pillar of Basel II describes the disclosure requirements for stakeholders.

c. This pillar outlines the role of the supervision & the requirements in relation to banks’ board and senior managements’ responsibilities.

d. None of the given options

4 “Vote-on-Account” is not true for ……

a. It is allowed in the Parliament to cover the deficit that has been left by last budget.

b. The economic plan that begins from 1st of April does not allow the government to set economic policy.

c. It dis-allows the government to levy new tax.

d. Govt can withdraw some amount for a period after getting the assent of parliament

5 If the Bank of Canada wants to stimulate aggregate demand, what does it need to do?

a. to raise the target range for the overnight financing rate, thus, reducing rates of interest throughout the economy

b. to raise the target range for the overnight financing rate, thus, increasing rates of interest throughout the economy

c. to lower the target range for the overnight financing rate, thus, reducing rates of interest throughout the economy

d. to lower the target range for the overnight financing rate, thus, increasing rates of interest throughout the economy

6 Which of the following given countries are covered under SAFTA (South Asian Free Trade Area)?

a. Pakistan, Sri Lanka, Bhutan, Nepal, Bangladesh & Maldives

b. All countries in South & South-East Asia, & New Zealand & Australia

c. All countries in South East Asia

d. The 7 countries which are the members of SAARC

7 Which of the following is an absolute minimum capital requirement under Basel II?

a. The new capital framework carries on to work with the existing minimum requirement of capital, that is 10% of risk weighted assets

b. The new capital framework carries on to work with the existing minimum requirement of capital, that is 7% of risk weighted assets

c. The new capital framework carries on to work with the existing minimum requirement of capital, that is 8% of risk weighted assets

d. The new capital framework carries on to work with the existing minimum requirement of capital, that is 6% of risk weighted assets

8 Which of the following represents an example of discretionary fiscal policy?

a. An increase in unemployment benefit payments during recession due to increase in unemployment

b. The tax is increased to combat rising inflation

c. There is decrease in income tax receipts due to recession as incomes start to fall

d. There is an increase in income tax receipts during an expansion as the incomes are on the rise

9 In an economy where it’s recession, what of the following is expected?

a. both govt. expenditure & tax revenues to be low, that will probably lead to a budget surplus

b. govt. expenditure to be high while the tax revenues to be low, that will probably lead to a budget surplus

c. govt. expenditure to be high & tax revenues to be low, that will probably lead to a budget deficit

d. both govt. expenditure and tax revenues to be high, that will probably lead to a budget deficit

10 The basic structure of Basel-III does not change. Which of the following options are a part of 3 mutually reinforcing pillars of Basel III? 

(i) Minimum Regulatory Capital Requirements that are based on RWAs (Risk Weighted Assets): Maintaining capital which is calculated through market, credit & operational risk areas,

(ii) Market Discipline: Increasing the disclosure requirements that banks have to provide for the purpose of transparency of banks,

(iii) Supervisory Review Process: Regulating tools & frameworks to deal with peripheral risks faced by banks 

a. Only (i) & (ii)

b. Only (i) & (iii)

c. Only (ii) & (iii)

d. (i), (ii) & (iii)

 

ANSWER KEY (CAIIB-CENTRAL BANKING)

1 d 6 d
2 b 7 c
3 b 8 b
4 a 9 c
5 a 10 d

 

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CCP MOCK FREE TEST:

CCP | CERTIFIED CREDIT PROFESSIONAL Free Mock Tests 2022

 

No. Questions – (MCQs on Certified Credit Professional)
1 What are the provisioning requirements in respect of Standard Assets under the Direct Advances given to agriculture and SME Sectors?

a) A general provision of 0.10% of total amount outstanding

b) A general provision of 0.25% of total amount outstanding, 

c) A general provision of 0.40% of total amount outstanding 

d) No provision is needed to be made

2 The debt-equity ratio (D/E) of a firm ‘Salsa’ has increased (increase in long term sources) along with the current ratio of the firm. Which of the following is certainly true bases on the above statement?

a) Sources of funds have been utilised for the purchase of fixed assets

b) Sources of funds have been used to pay-off current liabilities

c) Sources of funds have been used to pay-off current assets,

d) (b) & (c) both

3 What does OTS (One Time Settlement) scheme refers to? 

a) It is the sanctioning of ad-hoc limits to the Sick Units, 

b) It refers to the settlement of all outstanding dues as on a specified date as agreed to b/w the Borrower & Bank,

c) It refers to the sanction of rehabilitation package, 

d) It is consortium lending of banks provided to the sick unit.

4 ‘Simar’ Bank is maintaining a current account of a Public Trust having 4 trustees. Bank gets information that 2 of the trusties have died in a road accident while going for a vacation tour. The remaining trustees now desire to operate the current account. Which of the following statement is correct?

a) bank would permit the remaining trustees to operate the a/c as they are now the surviving trustees of the Trust

b) bank will refuse to operate the account as the power was vested with all of them

c) bank will examine the trust deed to determine what is the future course of action

d) if the trust deed allows the surviving or remaining trustees to operate the current account they will be allowed. Otherwise, the bank would insist on a direction from a competent court 

e) c & d both

5 The Secretary of Ganga Public Trust (a reputed trust), having 3 Trustees, has approached you to open a saving bank a/c in favour of the Trust. You find that Trust Deed submitted along with the application for account, there is no provision for operation of the bank a/c. What would you do under such situation?

a) the a/c would be allowed to be opened by the Secretary

b) operation in the a/c will be allowed jointly operated by the Chairman of the Trust

c) operation can be allowed against the joint signatures of all the Trustees

d) account will be opened only if the trust deed is modified in that respect.

e) a/c cannot be operated in the absence of such provision

6 Bank Umang have a current account of Dharama Charitable Trust which is operated by their 2 trustees, E & Y. In a road accident, both the trustees expire and this fact comes to the notice of the bank. What are the precautions that should be taken by the bank in regard to future operations in the account?

a) the beneficiaries of the trust will have to appoint another trustee and then on the basis of their resolution, the next trustee will be allowed to operate the current a/c.

b) the beneficiaries will be able to operate the account themselves.

c) the operations of the current a/c will be stopped 

d) the beneficiaries of the trust will be told to approach a court for the appointment of new trustee in case their trust deed is silent about this

e) b & c

7 A partnership firm having 3 partners, named M/s Hinduja Brothers opened a current a/c with Corporate Bank with the operational instruction that 2 partners will be operating the account. M/s Hinduja Brothers received a cheque in its favour & to meet the urgent payment requirement, on behalf of M/s Hinduja Brothers, the 3rd partner endorsed the same in favour of another firm M/s Shivangi Cables, from whom the raw material was being purchased:

a) M/s Shivangi Cables will become holder in due course if it does not know that the 3rd partner of M/s Hinduja Brothers had no authority to endorse the cheque, 

b) M/s Shivangi Cables will not become holder in due course if they already knew that only 1st & 2nd partner have authority to operate the bank a/c, 

c) M/s Shivangi Cables’ title will remain doubtful in all above circumstances, 

d) a & b,

e) a to c

8 What are the several special contractual features allowed by Relationship banking include what of the below options?

i) Discretion,

ii) Flexibility,

iii) Inclusion of collateral requirements, 

iv) Decision, 

v) Use of covenants

a) (i), (ii), (iii) (iv) is correct, 

b) (ii), (iii), (iv), (v) is correct

c) (v), (iii), (i), (ii) is correct,

d) (iv), (v), (iii), (i) is correct

9 Which of the following various steps for promoting networking & development are involved in UNIDO Projects?

i) Mapping the competitiveness, 

ii) Assisting the cluster’s actors for efficient SCM: Supply Chain Management Capacity building, 

iii) Providing advisory services, 

iv) Setting up special financial institutions for SMEs

a) (i), (iii), (iv), & (v) is correct, 

b) (ii), (iii), (iv), & (i) is correct,

c) (iii), (v), (iv), & (ii) is correct, 

d) (v), (i), (ii), & (iv) is correct

10 Cinematic Bank maintains the current account of M/s Verma Daughters with the partners having Ms. Verma & Ms. Bhawana as partners while having the operating instructions as ‘any one can operate’. Ms. Verma informs the bank that due to some dispute amongst the partners, the cheques signed by Ms. Bhawana should not be paid as she (Ms. Verma) has acquired the whole share from Ms. Bhawana and is shortly introducing another partner in the firm. Meanwhile a cheque that has been signed by Ms. Bhawana is presented for payment. What should the bank do?

A The operations in the a/c are to be stopped and the mandate for operation of the current a/c by any one, will become inoperative, 

b) The operations in the a/c will be stopped only after the bank receives the notice from both of them,

c) The cheque signed by Ms. Verma shall be passed since she has acquired the whole share now, 

d) The bank will advise to partners to sort out the issue

 

ANSWER KEY (CCP-CERTIFIED CREDIT PROFESSIONAL)

1 b 6 d
2 d 7 e
3 b 8 c
4 e 9 b
5 c 10 a

 

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AML KYC FREE MOCK TEST:

AML KYC | ANTI-MONEY LAUNDERING KNOW YOUR CUSTOMER Free Mock Tests 2022

 

No. Questions – (MCQs on AML KYC)
1 Which of the following statements are correct with respect to guidelines of RBI relating to Detection of Counterfeit Notes?

a. Banknotes tendered over the counter or currency chest through bulk tenders or received directly at the back office should be examined for their authenticity with the help of machines

b. No credit to is to be given customer’s account for counterfeit notes, if any, detected in the tender received over the counter or at the back-office or currency chest

c. The counterfeit notes must either be returned back to the tenderer or destroyed by the bank branches or treasuries, in any case.

d. All of the above statements are right

2 ‘Shanti’ with a bank a/c is recruited to receive cheque deposits or wire transfers & then transfers these funds to accounts held on behalf of another person or to other individuals, minus a certain commission payment. What is this called?

a. Money agency transaction

b. Money pipe transaction

c. Money Mule transaction

d. Money channel transaction

3 When a banknote is tendered at the bank branch counter or back office and currency chest or treasury is found to be counterfeit, an acknowledgement receipt must be issued to the tenderer in the prescribed format, after the note is stamped. The receipt, in running serial no’s, should be authenticated by the whom? The receipt is required to be issued even in those cases where the tenderer is not willing to countersign it.

a. Cashier, Branch Manager

b. Cashier; Tenderer

c. Branch Manager; Tenderer

d. None of these

4 Which of the following points are correct with regards to agreements b/w RBI & commercial banks that relates to the acceptance of coins in exchange of notes?

a. The branches of bank should accept coins in exchange of notes

b. The branches should accept coins (of all denominations) that are legal tender under the Indian Coinage Act, 2011 from any public person without any restriction and should pay the value of coins in notes

c. They should start using coin counting machines or accept coins by weight for large receipts to facilitate the customers

d. All the above points

5 A copy of the monthly consolidated report/FIR shall be sent to the which of the following entity that is constituted at the Head Office of the bank (only in banks’ cases), and in the case of the treasury, it should be sent to the Issue Office of the Reserve Bank concerned.

a. Forged Note Vigilance Cell

b. FATCA

c. Banking Ombudsman

d. Financial Action Task Force

6 In December, 2012 RBI eased the norms of KYC for banks. Which of the following statement is correct?

a. There is no need of introduction by the existing customer for opening Saving account

b. Aadhaar can be accepted as identity and address proof

c. Rent agreements can be taken as a valid proof of identity

d. The Job cards given under MGNREGA are to be considered valid documents

7 Penal interest will be levied in all the cases where the bank has enjoyed ‘ineligible’ credit in its current a/c with RBI on account of which of the below reasons pertaining to transactions?

a. Reporting was wrong or delayed or there was no reporting of transactions

b. There were shortages in chest balances or remittances

c. Shortages due to pilferage or frauds

d. All of the above options

8 For KYC policy, the definition of customer includes:

(i) one on whose behalf the bank a/c is being maintained (i.e the beneficial owner),

(ii) beneficiaries of whose transactions are conducted by professional intermediaries such as Stock Brokers, Chartered Accountants (CA), Solicitors etc. as permitted under the law, 

(iii) any person or entity who is connected with a financial transaction that can pose significant reputational or other risks to the bank, for example, a wire transfer or issue of a large amount of DD as a single transaction

a. Only (i) & (ii)

b. Only (i) & (iii)

c. Only (ii) & (iii)

d. (i), (ii) & (iii)

9 Which of the following points are correct on wrong reporting with respect to levy of Penal interest?

a. Penal interest will be levied on all the cases of wrong reporting in the same manner till corrected advice is received by RBI.

b. Penal interest will invariably be levied for reporting wrongly in all the cases in the Link Office Statements even if the reporting was done correctly in the chest slips.

c. Both of the above options are correct

d. None of the above options are correct

10 Lawyer ‘Daljeet’ who banks with you is a sole practitioner. She wants to open a trust a/c for her client. She provides you with the trust documents along with the name and address of the trust beneficiary but is not able to provide any additional details due to ‘client confidentiality obligation’. What you notice is that the address is from an overseas jurisdiction. What is the level of due diligence would be required?

a. This case does not require any enhanced due diligence. As you know the lawyer well & you have been provided with the trust documents & also identity of the beneficiary.

b. This situation needs enhanced level of due diligence as an offshore jurisdiction is involved in the case

c. The case requires enhanced level of due diligence as the lawyer ‘Daljeet’ is hiding something under the excuse of client confidentiality obligation

d. None of the above

 

ANSWER KEY (AML KYC)

1 d 6 a
2 c 7 d
3 b 8 d
4 d 9 c
5 a 10 d

 

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IIBF | DIGITAL BANKING FREE MOCK TEST 2022:

 

No. Questions – (MCQs on Digital Banking)
1 What is the difference b/w ATM card & Debit card?

a. Both are one and same with no difference

b. ATM cards can be used in both online transactions & POS and ATM withdrawals while Debit cards can be used only for ATM withdrawals

c. Debit card can be used in online transactions, POS transactions and to withdraw money from ATM whereas ATM cards are used only for to withdraw ATM

d. ATM card is used in POS terminals only while Debit cards can be used for any type of transactions

2 Which of the below statement(s) is or are correct?

(i) Single purpose or Closed loop prepaid cards are used at specific places only such as at merchant establishments but they cannot be used from cash withdrawals from ATMs,

(ii) Multipurpose or Open-loop prepaid cards are used for all types of transactions up to the loaded limit,

(iii) Gift card is one example of Single purpose or Closed loop prepaid card while Travel card is an example for Multi Purpose or Open loop prepaid card.

a. Only (i) & (ii)

b. Only (i) & (iii)

c. Only (ii) & (iii)

d. all the statements are correct i.e (i), (ii) & (iii) 

3 If there is dishonour of e-payment instruction from the customers account, the punishment, what will the punishment under Payment and Settlement Systems Act 20 be?

a. imprisonment </= 1 year and fine = amount mentioned in the payment instruction

b. imprisonment </= 2 years and fine = amount mentioned in the payment instruction

c. imprisonment </= 1 year and fine = double the amount mentioned in the payment instruction

d. imprisonment </= 2 years and fine = double the amount mentioned in the payment instruction

4 Which of the following characteristics of a cheque as per CTS 2010 Standards regarding watermark is right?

(1) All cheques shall have a standardized watermark 

(2) the words of watermark are to be CTS-INDIA 

(3) Watermark has to be oval in shape and its diameter should range from 2.6 to 3.0 cms. 

(4) Each cheque has to hold at least 1 full watermark.

a. 1 & 3 only

b. 2 & 4 only

c. 1, 3 7 4 only

d. 1 to 4 all are correct

5 Under CTS 2010 Standards of Reserve Bank of India, the pantograph with hidden or embedded COPY or VOID feature is to be included in the category of cheques. This feature is to be clearly visible in photocopies and scanned colour images. What is the objective of this standard?

a. it acts as a deterrent against cheques’ colour photocopy or scanned colour image

b. it acts as a deterrent against alterations of material nature

c. it facilitates proper accounting

d. all of the above

6 Which of the following aspects a bank needs to consider when designing a robust digital banking platform?

(i) Customer attitude & their behaviour, 

(ii) Operational cost and delivery time that is associated with the transactions, 

(iii) Risk associated with the migration of banking services to digital channels

a. Only (i) & (ii)

b. Only (i) & (iii)

c. Only (ii) & (iii)

d. (i), (ii) & (iii)

7 The entities that process card-based payment transactions on merchants’ behalf by entering into agreements with merchants for providing POS machines and by facilitating the exchange of funds from card issuing banks are known by what name?

a. Card Issuers

b. Merchant Acquirers

c. Card Schemes

d. Merchants

8 Which of the following is one of the components of Payment Card Industry Data Security Standard (i.e PCI D55)?

1. Building and maintaining a Secured network, 

2. Protecting cardholder data, 

3. Maintaining a Vulnerability Management Program, 

4. Implementing Strong Access Control Measures, 

5. Regularly Monitoring and Testing Networks, 

6. Maintaining an Information Security Policy

a. 1, 2 & 6

b. 1, 3, 4 & 6

c. 1, 2, 3, 4, 5 & 6

d. 2, 3, 4, 5 & 6

9 Which of the following statements is not correct?

a. In Stored value card, monetary values are stored inside the card itself

b. In Stored value card, credit limits are generally provided by the issuer of card

c. Stored value card is a type of prepaid card and card issuer is a service provider, not a bank

d. In prepaid card, the value of the card that is lying in the deposit account is linked at the back-end

10 What differentiates the Charge card from a Credit card?

a. In repayment mode as Credit card usage value can be paid in full or in part where as in charge card it is to be paid in full

b. They don’t have any difference

c. Credit cards have more security features than Charge cards

d. Charge cards are debit cards but they have an option for over-drawings

 

ANSWER KEY (Digital Banking)

1 c 6 d
2 d 7 b
3 d 8 c
4 d 9 b
5 a 10 a

 

More Mock Tests for 2022-23 Exams

IIBF | PREVENTION OF CYBER CRIMES AND FRAUD MANAGEMENT FREE MOCK TEST

No. Questions – (MCQs on Risk Management)
1 Are strategies of Arms Control and Deterrence useful in cyber-security?

a. No, arms control does not serve any purpose outside the realm of traditional military weapons

b. Yes, successful policies of arms control and deterrence have translated well from other security

realms, such as nuclear weapons control strategies

c. Effective deterrence requires international cooperation which is achievable in theory, but the

verification required for traditional arms control strategies is impossible in cyber(ed. warfare

d. Only arms control is unproblematic, deterrence has failed because international cooperation cannot

be reached and common rules or practices cannot be established

2 VIRUS stands for ……

a. Very Intelligent Result Until Source

b. Very Interchanged Resource Under Search

c. Vital Information Resource Under Slege

d. Viral Important Record User Searched

3 Which among the following characteristics are correct about ‘Cyberstalking’? (i) Cyberstalking is the use

of the internet or electronics to stalk or harass an individual or any group, (ii) It includes making

harassing phone calls, killing the victims pet, vandalizing victims property, leaving written messages or

objects, (iii) It may be offline as well as online

a. Only (i) and (ii)

b. Only (i) and (iii)

c. Only (ii) and (iii)

d. (i), (ii) and (iii)

4 What type of hacker was the individual (who was 16 year) who hacked into networks of NASA and downloaded temperature and humidity control software worth $1.7 billion?

a. Thrill-seeker hacker

b. Black-hat hacker

c. Script kiddie

d. White-hat hacker

5 What is included in denial-of-service (DoS) attack?

(i) Its an attack on a network which is designed to bring the network to its knees by flooding it with useless traffic,

(ii) DoS attacks are also included in it.

a. Only (i)

b. Only (ii)

c. Either (i) or (ii)

d. Neither (i) nor (ii)

6 Taking into account the commerce & marketing, which of the following present the most significant obstacle to develop security for IT?

a. There is no direct return on investment (ROI) in building security systems

b. Security systems reduces the usability & can make IT systems less functional, and therefore, are unattractive to the consumer

c. There is pressure to reduce the time to get a new IT product onto the market, so security systems get sacrificed in order to reduce the time-to-market

d. All of the above

7 Which of the following command will you use in order to find out private IP address of your computer?

a. Tracert

b. Ipconfig

c. Ipconfig /all

d. Ipconfig -all

8 To protect yourself from computer hacker, you should turn on a ……

a. Script

b. Firewall

c. VLC

d. Antivirus

9 Which of the following is not (most likely) a symptom of a virus?

a. Your web browser opens to an unusual home page

b. Odd message or images gets displayed on the screen

c. Disappearance of existing program files & icons 

d. The functioning of CD–ROM stops

10 Which activity is considered to be the most important activity in system hacking?

a. Information gathering

b. Cracking passwords

c. Escalating privileges

d. Covering tracks

 

ANSWER KEY (Risk Management)

1 c 6 d
2 c 7 c
3 d 8 b
4 d 9 d
5 c 10 b

 

More Mock Tests for 2022-23 Exams

IBPS | BANK PROMOTION

BANK PROMOTION FREE MOCK TEST 2022:

 

No. Questions – (MCQs on Bank Promotion)
1 Which statement is right with regard to foreign currency that remains unspent on return to India?

 

a. Retain any amount of foreign currency

b. Returned to Authorised Dealer within 90 days

c. Allowed to retain $5,000 USD

d. there is requirement to return unspent foreign currency within 180 days, if the amount exceeds $2,000 US Dollars

2 Who is required to furnish non-remarriage certificate?

 

a. who receives family pension

b. unmarried/windowed daughter of pensioner

c. pensioner’s widow

d. All the above are required to furnish it

3 In relation to lockers, which of the following guidelines are not issued by the Reserve Bank of India?

 

a. Branches are required to link the allotment of lockers to fixed deposits (FDs)

b. To ensure prompt payment of locker rent, branches are required to obtain a FD which has to cover 3 years rent & charges for breaking open the locker

c. Branch Manager can allot the 1/3rd of lockers which are vacant

d. There is no requirement to maintain the wait list of lockers

4 Which is the activity from below that a Business Correspondent cannot undertake?

 

a. disbursement of loans of small value

b. collecting deposits of small value

c. collection of transaction fees from customers

d. recovery of principal & interest

5 To change the classification of an advance (in case of crop-based agriculture advances) from standard to sub-standard category because of non-payment of loan amount, which of the following is taken for base?

 

a. 2 seasons of harvest

b. 2 seasons of crops

c. 1 seasons of crops

d. 2 crop seasons for short duration crop & 1 crop season for long duration crop

6 What is the meaning of “Four eyes concept”?

 

a. It’s opening & verifying account by 1 person but twice

b. It’s opening and verifying the account with the use of electronic device

c. It’s the opening and verifying the account by 2 different persons

d. It’s rejecting the person to open the a/c

7 When does a document which is executed outside India should be stamped?

 

a. It should be stamped at or before the document is executed

b. Within 3 months of document is received in India.

c. Within 4 months of document is received in India

d. Stamping is not needed when the document is executed abroad.

8 As per Rules of Income Tax, for what purpose 26Q form is used for?

 

a. To file quarterly statement of Tax deducted on salaries

b. To file quarterly statement of Tax deducted on interest on securities

c. To file quarterly statement of Tax deducted on interest other than on securities

d. none of the given options are correct

9 For what purpose “Sishu” scheme is made for?

 

a. granting loans to Minors

b. It’s a deposit scheme for children < 5 years old

c. It’s a Subsidized scheme to ensure education of children

d. Loans are sanctioned under Mudra scheme < or = Rs. 50,000.00

10 When a power of attorney been executed in United Kingdom and it is to be used in Mumbai. What is the time for payment of stamp duty?

 

a. within 3 months from entry date into India

b. within 3 months from execution date

c. 3 months before the date when it is to be used

d. POA is not a valid document and therefore, cannot be used

 

ANSWER KEY (Bank Promotion)

1 d 6 c
2 d 7 b
3 a 8 c
4 c 9 d
5 d 10 a

 

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