JAIIB Exam 2025 – RBWM Important Questions MCQs Quiz-11

06/03/2025

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JAIIB Exam 2025 RBWM Important Questions MCQs Quiz-11

JAIIB Exam Quiz 2025: The JAIIB exam is scheduled for 2025 by IIBF. Here, we are providing JAIIB RBWM 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. A bank cannot make its demand draft payable to bearer as it amounts to a currency note. This will be a violation of ______
a) Sec. 21 of the BR Act 1949
b) Sec. 31 of the RBI Act 1934
c) Sec. 35 of the BR Act 1948
d) Sec. 30 of the RBI Act 1934

2. Which statement is incorrect regarding NEFT payments?
(a) NEFT operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches.
(b) NEFT facilitate an efficient, secure, economical and expeditious system of funds transfer and clearing in the banking sector in India.
(c) NEFT system facilitates two cross-border transfer of funds from India to Nepal.
(d) There is no limit either minimum or maximum on the amount of funds that could be transferred using NEFT.

3. A UTR (Unique Transaction Reference) number for NEFT transactions is typically _____digits long, while for RTGS transactions it is ______ characters long.
(a) 14, 25
(b) 16, 22
(c) 15, 30
(d) 10, 15

4. The advantages of ECS payments are _________.
(a) No need for issuing any cheque to the beneficiary.
(b) Payment defaults will not happen if there is sufficient balance in the account.
(c) No follow up needed by the beneficiary as payment will be received automatically based on the mandate obtained.
(d) Hassle free for the mandate issuer, as it saves him time of issuing cheques for each payment.
(e) All the above

5. A settlement system in which the processing and final payment of funds transfer instructions takes place continuously, is called _________.
(a) Debit clearing system
(b) Credit clearing system
(c) National clearing system
(d) Real time gross settlement

6. NACH’s ______, developed by NPCI has been helping the Government and Government Agencies in making the Direct Benefit Transferscheme a success.
a) Bharat Bill Payment System
b) Aadhar Enabled Payment System
c) Aadhar Payment Bridge System
d) Real Time Gross Settlement

7. The remitting customer has to furnish which information to a bank for initiating a RTGS remittance?
(a) Amount to be remitted
(b) Name of the beneficiary bank and branch
(c) The IFSC Number of the receiving branch
(d) All of the above

8. MICR code stands for _______ are used to identify bank and branches involved in cheque transactions.
a) Magnitude Ink Character Recognition
b) Magnetic Ink Character Recognition
c) Magnetic Ink Charter Recognition
d) Magnetic Ink Cheque Recognition

9. _______is used by an institution for raising debits to a large number of accounts maintained with bank branches at various locations within the jurisdiction of a ECS Centre.
a) ECS debit
b) ECS credit
c) Any of the above
d) Both the above

10. Which service is offered by AePS?
a) Cash Withdrawal
b) Cash Deposit
c) Balance Enquiry
d) Aadhaar to Aadhaar Fund Transfer
e) All of the above