JAIIB Exam 2025 – PPB Important Questions MCQs Quiz-4

13/01/2025

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JAIIB Exam 2025 PPB Important Questions MCQs Quiz-4

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. In case of joint account of illiterate person with literate person the mode of operation of account should be ________
A. Jointly
B. Either or Survivor
C. Anyone or Survivor
D. None of the above

2. Which of the following accounts should not be opened for a minor?
A. Savings
B. Current
C. Term Deposit
D. Recurring Deposit

3. Which of the following statements is not true?
A. Debit card can be issued to minor
B. Minor can open his account under guardianship of either father or mother
C. Two minors can open a joint account
D. Minor’s account should not be overdrawn

4. Which of the following statements is true in case of HUF account?
A. The Karta has an implied authority to avail loan and execute the necessary documents.
B. The Karta has the power to transfer an asset, provided it is made for a legal necessity
C. Withdrawal of one of the coparceners does not put the existence of the firm in jeopardy.
D. All of the above

5. Which of the following statements is true in case of Proprietorship Firm’s account?
A. Accounts of a proprietorship firm can be treated as an account of an individual.
B. The cheques should be signed in the name of the proprietorship firm.
C. A proprietorship firm does not require any document of incorporation.
D. All of the above

6. In case of dispute if the operations on partnership account is stopped due to notice given by any one partner, then operations would be resumed by _____
A. The partner who gave notice to stop
B. All the partners jointly
C. Any one of the partners
D. Any 2 partners

7. A “small limited liability partnership” means a LLP – the contribution of which, does not exceed Rs.______
A. 10 lakhs
B. 20 lakhs
C. 25 lakhs
D. 30 lakhs

8. Limited Liability Partnership has at least _____ Designated Partners.
A. Three
B. Two
C. Four
D. Five

9. Public Ltd company requires a minimum of _______ members for incorporation.
A. two
B. three
C. five
D. seven

10. A company in which ______ or more of the shares are held by any one or more of the Central/ State Governments is called a Government Company.
A. 75%
B. 49%
C. 50%
D. 51%

11. _____ is a person named in the will and derives title immediately after the date of death of testator for the purpose of administration of the property of the deceased.
A. Administrator
B. Executor
C. Nominee
D. Beneficiary

12. There is no restriction on opening current accounts or on providing CC/OD facility in case of borrowers, where the exposure of the banking system is less than _____.
A. 10 crores
B. 15 crores
C. 5 crores
D. 1 crore