JAIIB Exam 2025 – PPB Important Questions MCQs Quiz-10

22/01/2025

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JAIIB Exam 2025 PPB Important Questions MCQs Quiz-10

JAIIB Exam Quiz 2025: The JAIIB exam is scheduled for 2025 by IIBF. Here, we are providing JAIIB PPB MCQ-based quizzes on a regular basis. You can attempt the quizzes regularly to prepare for the upcoming JAIIB exam. The quizzes will be provided module-wise and unit-wise. You can attempt the JAIIB PPB quizzes from the links below and improve your preparation by practicing regularly. These quizzes will help you boost your score in the JAIIB exam and guide you to clear the exam on your first attempt.

1. Which of the following statements is true with respect of Diamond Dollar Account?
A. Realisation of export proceeds and local sales (in USD) of rough, cut, polished diamonds; and pre and post shipment finance availed in USD can be credited.
B. Payments for purchase of rough, cut and polished diamonds can be made.
C. The account should be a non-interest- bearing current account.
D. All of the above

2. Foreign currency denominated accounts maintained in India cannot be in the form of _____.
A. Savings account
B. Fixed deposit
C. Current account
D. Recurring deposit

3. When can RFC account be opened?
A. When resident Indian becomes NRI
B. When NRI returns India for permanent settlement
C. When resident become Person of Indian Origin
D. Any NRI can open it

4. FCRA prohibits which of the following classes of persons from receiving ‘foreign contribution’?
A. Candidate for election
B. Associations or companies engaged in the production or broadcast of audio news
C. Correspondent, columnist, cartoonist, editor, owner, printer or publisher of a registered newspaper
D. All of the above

5. A person shall receive foreign contribution only in an account designated as “FCRA Account” opened in New Delhi Main Branch of ________.
A. State Bank of India
B. Bank of India
C. Indian Bank
D. Bank of Baroda

6. A person receiving foreign contribution in a quarter of the financial year shall place details of foreign contribution received on its official website within ______ following the last day of the quarter in which it has been received.
A. Ten days
B. Fifteen days
C. Twelve days
D. Twenty days

7. The bank shall report to the Central Government within ________ any transaction in respect of receipt or utilisation of any foreign contribution by any person.
A. 24 hours
B. 48 hours
C. 5 days
D. 7 days

8. _________, Government of India has developed a software for submission of online reports of receipt of foreign contribution by banks.
A. Ministry of Corporate Affairs
B. Ministry of Commerce and Industry
C. Ministry of Home Affairs
D. Ministry of Finance

9. The resident joint account holder of RFC account_______.
A. Can operate the account freely
B. Cannot operate the account till the life-time of resident account holder
C. Can operate the account for local payment only
D. None of the above

10. Balances in EEFC A/C and RFC (D) A/C may be credited to ______ Account, consequent upon change of status to non- resident.
A. NRO Account
B. NRE Account
C. Diamond Dollar Account
D. RFC Account