JAIIB Daily Quiz: Quiz 12

 

JAIIB Daily Quiz: Quiz 12

JAIIB Exam Quiz 2021: JAIIB exam is schedule for the 2021 by IIBF. here we are providing the JAIIB MCQ Based Quiz on a regular basis. You can Attempt the Quiz on a regular basis for upcoming JAIIB Exam. Quiz will be provided Module Wise and Unit Wise etc. You can attempt the JAIIB Quiz from the below and make improvement in your preparation by attempting JAIIB Quizzes provided by Ambitious Baba on a regular basis. This Quiz will help you to boost your score in jaiib exam and Provide you the way to clear your exam in 1st Attempt.

  1. The current account’s mandate holder has passed away, a cheque having his signs is presented for payment after his death a–

(a) The cheque shall be paid, if dated subsequent to date of death or prior to the date of death.

(b) The cheque shall not be paid

(c) The cheque shall be held until the nominee approves

(d) The cheque shall be paid, if date is not subsequent to date of death or prior

Answer & Explanation
Ans. d

Sol. The cheque shall be paid, if date is not subsequent to date of death or prior

  1. If a cashier’s immediate supervisor instructs the cashier to withhold essential but unpleasant information in a management report, the cashier should:

(a) Do as the supervisor ask and tell no one.

(b) Refuse to do as the supervisor asks and alert an investigative reporter to the problem.

(c) Take the matter to the supervisor’s immediate supervisor.

(d) Take the matter directly to the corporate ombudsman.

Answer & Explanation
Ans. c

Sol. Take the matter to the supervisor’s immediate supervisor.

  1. Mr. Abhinav took a loan of Rs. 12 lakhs from ABC bank under Stand-Up India Scheme on 1st September 2016. This was a collateral free loan and was covered by Credit Guarantee Scheme for Stand up India. The account become NPA on 31 October 2017 and the outstanding balance was Rs. 13.23 lakh. On analysing the account and about Mr. Abhinav , It was revealed that he had misrepresented vital information tantamount to fraud while availing loan. Mr. Abhinav  gave a compromise offer of Rs. 12 Lakh on 15th November 2017 to close the account with waiver of interest and other charges. What should be the action?

(a) Accept her proposal as such since you interpret it as compromise under thumb rule method

(b) Tell to her that he has misrepresented the bank and compromise is not possible

(c) File FIR with local police and file claim before NCGTC (National Credit Guarantee Trustee Company Ltd) after the lock in period of 18 months are passed

(d) Ask Mr. Abhinav to deposit her offer amount in No Lien account and pass the details to higher authority

Answer & Explanation
Ans. d

Sol. Ask Mr. Abhinav  to deposit her offer amount in No Lien account and pass the details to higher authority

  1. A bank offers a credit card holder a personal loan at 13% to enable him to pay of his credit card outstanding. The customer is paying 24% on his credit card out standings and therefore very happy to accept the offer. The bank charges 10% on personal loans normally. The pricing method employed here is-

(a) Value pricing

(b) Preserved value pricing

(c) Mark-up pricing

(d) None of the above

Answer & Explanation
Ans. a

Sol. Value pricing

  1. Corporate management is responsible for creating an ethical culture by doing all of the following expect:

(a) identifying and documenting organizational values

(b) defining principles of behaviour

(c) implementing a whistle blowing

(d) creating a code of ethics or conduct

Answer & Explanation
Ans. c

Sol. implementing a whistle blowing

  1. Guarantor of A and B were obtained for a cash credit advance. A was a school teacher will small pension and he is very aged. B was sustainable means. As the advance fail the bank called up the advance. Bank agrees to release of his liability but proceeded against B. B contended that he is discharging of his liability as A has been release by the bank

(a) Release of one co-surety doesn’t discharge the other

(b) Bank has taken a business decision to release A and B contention is unattainable in law

(c) A would be liable to B for his contribution, when B make payment to the bank under the guarantee

(d) All the above is correct

Answer & Explanation
Ans. d

Sol. All the above is correct

  1. A Senior accountant has concerns that a particular transaction is being recorded in a manner that does not reflect the nature of the transaction and believes that alternative accounting is being used to avoid recording the appropriate expense for a period. The senior accountant attempted to speak to the accounting manager, but the manager rebuffed the senior accountant and said there was no time to discuss the issue further. According to Ethical Professional Practice, what is the next appropriate step the accountant should take regarding this issue?

(a) Discuss the issue with the next level of management over the accounting manager.

(b) Discuss the issue with the company’s independent accounting firm.

(c) Discuss the issue with the firm’s legal counsel.

(d) Resign from the position with the company

Answer & Explanation
Ans. a

Sol. Discuss the issue with the next level of management over the accounting manager.

  1. Which of the following is a term used to refer to the income tax payable on capital raised by unlisted companies’ issue of shares where the share price is seen in excess of the fair market value of the shares sold?

(a) Angel Tax

(b) Corporate Tax

(c) Capital Gains Tax

(d) Security Transaction Tax

Answer & Explanation
Ans. a

Sol. Angel Tax

  1. In Insolvency and bankruptcy code 2016, if case referred to NCLT and the creditor do not take any decision on the resolution plan, what is the further course of action?

(a) NCLT will reject the case

(b) NCLT will order the liquidation

(c) Case will be referred to the DRAT

(d) Case will be referred to the Supreme Court

Answer & Explanation
Ans. b

Sol. NCLT will order the liquidation

JAIIB Online Mock test with Explanation

JAIIB/DBF Paper Mock Link
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Related Links:

Paper 1 Module-Wise PDF

Paper 2 Module-Wise PDF

Paper 3 Module-Wise PDF

JAIIB/ DBF Capsule PDF

Download JAIIB Paper-3 CAPSULE PDF 2.0 (Legal & Regulation Aspects of Banking)

JAIIB Paper-2 CAPSULE PDF 2.0 (Accounting & Finance for Bankers)

JAIIB Paper-1 CAPSULE PDF 2.O (Principles & Practices of Banking)

 

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