JAIIB Exam 2025 – RBWM Important Questions MCQs Quiz-8

25/02/2025

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JAIIB Exam 2025 RBWM Important Questions MCQs Quiz-8

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. Which of the statement is incorrect regarding Current Account?
(a) It needs a higher minimum balance to be maintained as compared to the savings account.
(b) It is of a continuing nature as there is no fixed period to hold a current account
(c) It is an interest-bearing account.
(d) It does not promote saving habits with its account holders.

2. The rate of interest in case of Recurring Deposit for a particular period____.
(a) Is less than FD
(b) Is same as FD
(c) Is more than FD
(d) It is discretion of the bank to stipulate rate of interest in RD different than FD.

3. In case the locker was hired jointly with the instructions to operate it under joint signatures, and the locker hirer nominates person, in the event of death of any of the locker hirers, the bank give access of the locker and the liberty to remove the contents to _________
a) jointly to the survivor and the nominee
b) Only to a joint survivor
c) Only to a nominee
d) Anyone of the survivor or nominee

4. As per RBI guidelines, Banks should settle the claims in respect of deceased depositors and release payments to survivor(s)/ nominee(s) within a period not exceeding _____from the date of receipt of the claim.
a) 10 days
b) 15 days
c) 30 days
d) 45 days

5. The nomination can be done in favors of ___ person in case of deposit account and in favour of upto________is permissible in jointly operated locker accounts with common consent from all holders.
a) 1,1
b) 2,2
c) 1,2
d) 2,5

6. Balances in savings/ current accounts which are not operated for ________, are classified as “Unclaimed Deposits”.
a) 5 years
b) 10 years
c) 15 years
d) 20 years

7. In case of shortfall in the SB account to honour any debit transaction or any other transaction, FDs are automatically broken to the extent needed for meeting the shortfall in _____
a) Recurring Deposit account
b) Annuity Deposit Account
c) Reverse sweep Facility – 2 in 1 account
d) Auto sweep Facility – 2 in 1 account

8. If a fixed deposit is matured, but the proceeds are not renewed and remain unpaid and unclaimed with the bank, then the amount which is not claimed will attract the rate of interest that is applicable to______
a) savings account or the contracted rate of interest on the matured FD (lower of the two)
b) savings account or the contracted rate of interest on the matured FD (higher of the two)
c) Only savings account rate
d) None of the above

9. Which statement is correct regarding Advances against Bank’s own Time Deposits?
a) Advances against fixed deposit receipts standing solely in the names of minors should not be considered.
b) In case of advances against recurring deposits, the facility be allowed only after the account has been in existence for at least one year.
c) declaration as per bank’s approved format should be obtained in addition to the usual security documents.
d) All of the above

10. Repayment of Time Deposit of _____ or more should be made by means of “A/c Payee” Banker’s Cheque/ draft or by crediting the account of such depositor.
a) Rs. 10,000
b) Rs. 20,000
c) Rs. 25,000
d) Rs. 50,000