JAIIB Crash Course May 2025 PPB Quiz-1

05/05/2025

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JAIIB Crash Course May 2025 IE and IFS Quiz-1

JAIIB CAIIB Course Quiz – May 2025: The JAIIB exam for May 2025, conducted by IIBF, is fast approaching. To support your preparation, we are providing regular MCQ-based quizzes specifically designed for the JAIIB CAIIB syllabus. These quizzes are structured module-wise and unit-wise to help you cover the entire syllabus systematically. Practicing these quizzes consistently will strengthen your concepts, improve accuracy, and increase your chances of clearing the exam on your first attempt.

Q.1 A Demand Draft cannot be payable to the bearer as it would amount to currency notes and will be a violation of Section ________ of the RBI Act 1934.
(a) Section 29
(b) Section 30
(c) Section 32
(d) Section 31

Q.2 What do you mean by mandate?
(a) An authority is given by the account holder to any third party to operate the account on his behalf
(b) An authority is given by the account holder to the bank to function the account on his behalf
(c) It is same as Power of Attorney
(d) None of these

Q.3 The Central Information Commission shall consist of ___________.
(a) The Chief Information Commissioner
(b) Central Information Commissioners not exceeding ten
(c) President
(d) Both a and b

Q.4 On receipt of the garnishee order, the bank shall not honour any cheque(s) drawn by customers and _____________ operations.
(a) stop the debit operations
(b) stop the credit operations
(c) Hold the account for all the operations
(d) None of these

Q.5 Banks have to make facility of CTS-Positive Pay System available to all account holders issuing cheques for amounts of Rs. _____ and above.
(a) 25000
(b) 50,000
(c) 15000
(d) 1,00,000

Q.6 Identify the major difference between FERA and FEMA?
(a) FERA treated offenses related to foreign exchange as criminal offenses, while FEMA treated them as civil offenses
(b) FEMA is extended to the whole of India, while FERA in except to the Gujarat International External Tec-City
(c) Both a and b
(d) None of these

Q.7 Who is not eligible to open an SNRR account in India?
(a) Any foreign national with business interest in India
(b) Any person resident in India
(c) Any entity incorporated in Pakistan or Bangladesh
(d) Both a and c

Q.8 Which of the following is a part of the process of cheque clearance under the Cheque Truncation System?
(a) At the time of presentation clearing, the clearing house processes the data, and requisites it to the paying banks
(b) Based on all the instruments accepted by the CHI during a session, the clearing house arrives at the net settlement position for each bank
(c) The clearing house processes the return file sent by the paying bank and the data is sent to the presenting bank
(d) All of the above

Q.9 Under _________ stage of money laundering, funds are passed through numerous financial transactions in these accounts creating several layers of funds transfers.
(a) Placement
(b) Layering
(c) Integration
(d) Disintegration

Q.10 What is the relationship between bank and customer in case of sale/purchase of securities on behalf of a customer?
(a) Lessor and Lessee
(b) Creditor and Debtor
(c) Trustee and Beneficiary
(d) Agent and Principal

Q.11 RBI has advised banks to resolve customer complaints regarding wrongful debit on account of ATM transactions within ________ working days of receipt of customer complaint.
(a) T+2
(b) T+3
(c) T+4
(d) T+5

Q.12 A special crossing is done by ___________.
(a) Drawing two blank parallel crosswise lines across the face of a cheque
(b) Adding the name of a banker across the face of a cheque
(c) Adding the words “A/c Payee” to a cheque
(d) None of these

Q.13 ____________ ensures overall compliance with the prevention of money laundering?
(a) Ombudsman
(b) Designated Director
(c) Principal officer
(d) None of these

Q.14 All the complaints against unfair contracts, where the value of goods or services paid as consideration does not exceed more than Rs. __________ are filed before State Commission.
(a) 1 Crore
(b) 5 Crore
(c) 10 Crore
(d) 20 Crore

Q.15 The claims in respect of deceased locker hirers should be settled and contents of the locker released within maximum _______from the date of receipt of the claim.
(a) 10 days
(b) 12 days
(c) 15 days
(d) 30 days

Q.16 In case of Joint account in the name of 2 persons, the account can be closed at the request of ______
(a) First holder
(b) Second holder
(c) Any of the above
(d) Both joint account holders

Q.17 Choose the correct statement.
(i) Any excess in the Cash Balance must be credited to Sundry Deposit Account on the same day itself.
(ii) Any excess in the Cash Balance must be credited to Sundry Deposit Account within two days.
(a) Only (ii)
(b) Only (i)
(c) Both (i) & (ii)
(d) None of these

Q.18 Maximum of ____ withdrawals in a month, including ATM withdrawals are allowed in BSBD Account.
(a) Two
(b) Three
(c) Four
(d) No limit

Q.19 The total amount of withdrawals and transfers in a small account cannot exceed ________ in a month.
(a) Rs. 2000
(b) Rs. 5000
(c) Rs. 10,000
(d) Rs. 50,000

Q.20 Which of the following statements is false?
(a) The electronic image of the ‘cheque truncation’ substitutes the physical cheque from the point and time of truncation onwards.
(b) The drawer/holder of a cheque can truncate a cheque.
(c) The paper cheque, after truncation, is kept in the custody of the bank/clearing house that truncated the cheque.
(d) The addition of the digital signature of the truncating bank/Clearing House to the electronic image of the cheque truncation is optional

Q.21 Diamond Dollar Account is maintained in _____
(a) US dollars only
(b) Any permitted currency
(c) Euro Only
(d) Indian Rupee (INR) only

Q.22 Read the given scenario carefully— “The bank acts on behalf of the customer, providing financial advice and managing their investments.” What is the relationship between bank and customer?
(i) Agent and Principal
(ii) Trustee and Beneficiary
(a) Only (i)
(b) Only (ii)
(c) Both (i) & (ii)
(d) None of these

Q.23 In which of the cases there is a termination of Bank-Customer Relationship?
(a) Customer closing the account voluntarily
(b) On death of customer
(c) Bankruptcy of a customer
(d) All of the above

Q.24 In 2019, Reserve Bank also introduced the ________ for customers to lodge their complaints with the Banking Ombudsman.
(a) Complaint Redressal System
(b) Complaint Management System
(c) Grievances Management System
(d) Customer Service System

Q.25 CPA 2019 applies to all goods and services, excluding ______
(a) Goods for resale
(b) Goods for commercial purpose
(c) Services rendered free of charge
(d) All of the above

Q.26 State Information Commissioners shall hold office for _____ or the tenure as prescribed by the Central Government or up to the age of _____, whichever is earlier.
(a) 2 years, 60 years
(b) 5 years, 65 years
(c) 3 years, 65 years
(d) 1 year, 60 years

Q.27 Which among the following is an example of promissory note?
(a) “I promise to Pay B Rs. 500, first deducting thereout any money which he may owe me.”
(b) “I promise to Pay B Rs. 500 seven days after my marriage with C.”
(c) “I, promise to Pay B Rs. 500 on D’s death, provided D leaves me enough to pay that sum.”
(d) “I acknowledge myself to be indebted to B in Rs. 1,000, to be paid on demand, for value received.”

Q.28 Right to appropriate the debit balance in one account with credit balance in another account of the same customer by banks is called _______.
(a) Garnishee
(b) Lien
(c) Set-off
(d) Rating

Q.29 What are the new aspects covered under CPA, 2019?
(a) Advertising claims
(b) Feature of unfair contract
(c) Product liability action
(d) All of the above

Q.30 The PIO shall either provide the information or reject the request within ____ of the receipt.
(a) 15 days
(b) 30 days
(c) 60 days
(d) 120 days

Answer:

Q1: D
Q2: A
Q3: D
Q4: A
Q5: B
Q6: A
Q7: B
Q8: D
Q9: B
Q10: D
Q11: D
Q12: B
Q13: B
Q14: C
Q15: C
Q16: D
Q17: B
Q18: C
Q19: C
Q20: B
Q21: A
Q22: A
Q23: D
Q24: B
Q25: D
Q26: C
Q27: D
Q28: C
Q29: D
Q30: B