JAIIB Exam 2025 – PPB Important Questions MCQs Quiz-7

18/01/2025

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JAIIB Exam 2025 PPB Important Questions MCQs Quiz-7

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. _______ is a document executed by one person called donor or principal in favour of another person called donee or agent to act on behalf of the former.
A. Power of Attorney
B. Mandate
C. Right to set off
D. Lien

2. Which of the following statements is correct with respect to mandate?
A. The signature of the mandatee is verified by the customer in the mandate letter.
B. The mandate is normally temporary for a short period.
C. Institutions need to issue a power of attorney and not a mandate
D. All the above

3. Two types of Power of Attorneys are ______ and _________
A. Wide and Narrow
B. Specific and Limited
C. General and Specific
D. Universal and General

4. ______ is a stamped document and is executed in the presence of a Notary Public/ Government official authorised to do so.
A. Mandate
B. Set-off
C. Power of Attorney
D. Bank Guarantee

5. For a joint account, ______ should sign the mandate/ power of attorney empowering a third party to operate.
A. First account holder
B. Any of the two joint account holders
C. all joint account holders
D. None of the above

6. Who among the following can appoint agents?
A. Executors
B. Administrators
C. Partners of partnership firm
D. legal guardians

7. Who among the following cannot exercise a right of General Lien?
A. Policy brokers
B. Wharfingers
C. Attorneys of district court
D. Factors

8. Right to _______is exercised by adjusting the debit balance in one account with the credit balance in the other account.
A. Appropriation
B. Set-off
C. Lien
D. Pledge

9. Which of the following statements is false with respect to right to set – off?
A. The account of a sole proprietor (of a trading firm) and his individual account can be combined.
B. The right of set-off is available to the banker in respect of debit balance held in a customer’s account.
C. For the purpose of set-off, all the branches of a bank are considered as a single entity.
D. It is a statutory right and can also arise out of an agreement between the parties concerned.

10. The right to set-off can be applied in _____ debt.
A. Due and recoverable
B. Contingent
C. Not yet due
D. None of the above