JAIIB Paper 4 (RBWM) Memory based Questions : 9th November 2024
JAIIB is a key course offered by IIBF, with exams held twice a year, in May and November. We have collected questions from the JAIIB exam held on November 9, 2024. Many questions tend to repeat in each exam, so Ambitious Baba is providing you with these recollected question papers for Retail Banking Wealth Management (RBWM). These papers will be very helpful for upcoming exam shifts.
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1. Tax application on non-resident income generated in India: The Income-tax Act, 1961, Section 5, applies to non-resident Indians (NRIs). Non-resident income is taxable in India if it’s earned or accrued in India.
2. Full form of SWIFT: Society for Worldwide Interbank Financial Telecommunication.
3. IDBRT created which all systems: The Institute for Development and Research in Banking Technology (IDRBT) was established by Reserve Bank of India (RBI) to provide IT solutions for various banking systems.
4. BSBD account related: Basic Savings Bank Deposit Account (BSBD) is a zero-balance savings account.
5. Non-discretionary investment: Compulsory investments, such as retirement funds or mandatory government savings schemes.
6. Type of mutual fund that puts money in different types of assets: Diversified Mutual Fund or Asset Allocation Fund.
7. Purpose of wealth management: To preserve, grow, and transfer wealth while achieving financial goals.
8. Psychological needs (Maslow’s Hierarchy): Physiological, Safety, Love & Belonging, Esteem, Self-actualization.
9. 7 Ps: Marketing mix: Product, Price, Place, Promotion, People, Process, Physical Evidence.
10. Case study on internet banking fraud and liability: Answer depends on specific case. Generally, banks are liable for internet banking fraud if security measures are inadequate.
11. NEFT full form: National Electronic Funds Transfer.
12. Who manages CKYCR: Central Know Your Customer (CKYC) Registry is managed by Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).
13. Difference between retail banking and corporate banking:
14. Minimum income required for income tax: ₹2.5 lakh (for residents below 60 years).
15. Education loan third-party guarantee mandatory: Yes, for loans between ₹4.5 lakh and ₹7.5 lakh.
16. Maximum education loan for vocational education: ₹10 lakh.
17. Maslow’s Hierarchy – incorrect for product under physiological needs: Luxury cars (falls under Esteem needs).
18. BSBD account max liability in case of fraud: Zero liability (customer not liable for fraudulent transactions).
19. Education loan NBFC: Non-Banking Financial Companies (NBFCs) provide education loans.
20. 99# max payment limit: ₹5,000.
21. PMS: Portfolio Management Services.
- What to do if MIS is not functioning properly
- Mergers are performed by investment banking
- How many unsold shares will underwriter buy if unsold
- Difference was one option said only financial inclusion user between 18-70
- Short term gain calculation formula; Long term gain
- Integrated ombudsman scheme
- Ltv ration for home loan 75lakh
- 2 Que on people price process
- Tax application on non resident income generated in India
- IDRBT created which all systems
- Non discretionary investment
- Type of mutual fund which puts money in different types of asset
- Purpose of wealth management
- Psychological needs (one question)
- Case study on internet banking fraud and liability
- NEFT full form
- Purpose of wealth management
- unauthorised transaction related- 3 ques
- Minor account facilities
- Integrated ombudsman scheme
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