Which one doesn't come under the classification of scheduled
banks?a. Public Sector Banksb. Private Sector Banksc. Foreign
Banksd. None of theseMacro Economics doesn't deal with...a. GDPb.
Unemployment Ratesc. Individual Firmsd. Price IndicesLC which can
be amended or cancelled by the opening bank is called......a.
Transferable LCb. Irrevocable LCc. Revocable LCd. Revolving LCAs a
cover for bank note issue, RBI keeps some minimum value of total
approved assets in the form of:a.cash and bank balancesb.cash, gold
coins and bank balancesc.gold coins, bullion and foreign
securitiesd.all the aboveWho gave wealth theory of economics?a.
Alfred marshallb. Lionel Robbionsc. Adam smithd. None of theseRBI
exercises monetary control in India through...a. Issue of
currencyb. Cash reserve and liquid reserve ratiosc. Repo and
Reverse Repo Rated. Regulated Payment SystemWhich one doesn't come
under the classification of scheduled banks?a. Public Sector
Banksb. Private Sector Banksc. Foreign Banksd. None of theseWhich
of the following is not covered under selective credit control,at
present:a.sugarb.buffer stocks of sugarc.unreleased stocks of sugar
with sugar mills representing free levy sugard.none of aboveIn
India, consumer price index released by......a. Ministry of
commerceb. Ministry of Financec. Ministry of labour and
employmentd. Ministry of AgricultureWhich one of the following
doesn't come under the functions of SEBI in India?a. Supervision
over listed companiesb. Management of Payment Systemc. Control over
Equity Marketd. Regulation of Debt MarketWho regulates the
Insurance Business in India?a. RBIb. SEBIc. IRDAd. AMFIThe apex
institution which handles refinance for agriculture and rural
development is called:a) RBIb) SIDBIc) NABARDd) SEBIWhich one of
the following doesn't come under the functions of RBI in India?a.
Regulating the Money Marketb. Supervision over NBFCsc. Supervision
over FIIsd. Management of Payment SystemSec ---- of RBI Act,1934
gives sole power to RBI to issue currency notesa) 10b) 18c) 22d)
26Coins are issued bya. RBIb. Govt of Indiac. both a and bd. None
of theseFor controlling inflationary or deflationary situations in
india, RBI makes use of(which one is excluded):a.Cash Reserve
Ratiob.Statutory Liquidity ratioc.Open Market operationsd.Liquidity
adjustment facilityCertification Test for marketing & selling
of mutual fund products is conducted bya. SEBIb. NSE or BSEc.
AMFId. RBIFor controlling inflationary or deflationary situations
in india, RBI makes use of(which one is excluded):a.Cash Reserve
Ratiob.Statutory Liquidity ratioc.Open Market operationsd.Liquidity
adjustment facilityPrice Index used in India to calculate inflation
for policy formulation isa. Consumer price indexb. GDP deflatorc.
Wholesale price indexd. Retail price indexNarrow Money consists
ofa. Currency with the Public Demand Deposits, 'Other 'Deposits
with the RBIb. Currency with the Public, Time Deposits, `Other'
Depositsc. Time deposits, Demand Deposits, 'Other' Deposits with
the RBId. Currency with the Public, Demand DepositsMacro Economics
doesn't deal with...a. GDPb. Unemployment Ratesc. Individual
Firmsd. Price IndicesWhich of the following is part of the money
market?a. Debenturesb. Bonds issued by PSUsc. Term Moneyd. Bonds
issued by GovtWhich is not a major promotor of CIBIL?a. HDFCb.
SBIc. RBId. Trans Union International Inc.Which of the following
can't be included in the money market?a. CDsb. Treasury Billsc.
Corporate Securitiesd. Call/Notice moneyWhich of the following is
an important reason for regulation of banking system:a.to promote
confidence of public in banking systemb.to protect interest of the
investorsc.to ensure that the financial markets are efficient and
transparentd.all the aboveWhich of the following can't be included
in the definition of "Financial Intermediary"?a. Financial
Institutionsb. Banksc. NBFC & Mutual Fundsd. None of theseThe
negotiable financial instrument which is traded on a stock exchange
of another country but represents security issued by foreign listed
company is called:a.buyers creditb.depository receiptc.cross listed
stockd.participatory noteUniversal Banking means...a. International
Bankingb. Wholesale Bankingc. Offering multiple Financial
Productsd. All of the aboveNational Clearing Cell of the RBI is
located in ......a) Mumbaib) New Delhic) Calcuttad) ChennaiNotice
Money means money lent/borrowed between banks and entities like PDs
for ......a. 1 dayb. 2-14 daysc. More than 14 daysd. None of
these
Participatory notes are issued bya. NREsb. NRIsc. FIIsd.
PIOsSupervision over stocks,brokers,mutual funds etc. is done byA.
Capital markets regulatory authorityB. Central banking authorityC.
Insurance and pension regulatorsBCSBI has been set up on the
recommendations of ...... Committee.a. Jankiramanb. Narasimhanc.
Tarapored. RangarajanCall Money means money lent/borrowed between
banks and entities like PDs for ......a. 1 dayb. 2-14 daysc. More
than 14 daysd. None of theseTreasury bills are issued for a period
of upto......a. 30 daysb. 31 daysc. 90 Daysd. 91 daysWhich of the
following is value added service as part of wholesale
banking:a.structured financeb.channel financingc.supply chin
managementd.letter of creditReforms in the financial services
sector were initiated on the recommendations of ...... Committee.a.
Jankiramanb. Narasimhanc. Tarapored. RangarajanCPs are issued
normally for a tenure of......a. 30 Daysb. 60 Daysc. 90 Daysd. 120
DaysUnder forfaiting, the exporter is able to transfer ......
risk.a. Creditb. Politicalc. Interest Rated. All the aboveThe
validity period of SEBI's observation letter for IPO offer document
is......a. 1 monthb. 2 monthsc. 3 monthsd. 6 monthsInter-Bank Term
money means, borrowings among banks for ......a. 1 dayb. 2-14
daysc. more than 14 daysd. None of theseWhich of the following
products in retail banking do not fall under retail deposit
products:a.no frill accountsb.deposit accounts of senior
citizensc.depository servicesd.all the aboveYour bank receives a
cheque in inward clearing which has not been signed by the account
holder. Which one of the following reasons you will select to
return the cheque?a. Cheque is not signed by the payeeb. Refer to
the drawerc. Cheque is not signed by the draweed. Cheque is not
signed by the endorseecash flow statements deals with ......a. cash
fundsb. non-cash fundsc. both a and bd. None of theseBanking
Ombudsman Scheme is introduced under ......... of BR Act, 1949?a.
Section 34Ab. Section 35Ac. Section 43Ad. Section 53AWhich is not
defined in NI Act?a. Special Crossingb. A/c Payeec. General
Crossingd. None of the aboveWhile opening an account in the name of
a Joint Hindu Family a JHF letter is obtained. It will be signed
by?a. Kartab. Adult Coparcenersc. Minor Coparcenersd. Only by a and
bAs per Indian Stamp Act, which one attracts stamp duty?a. DPNb.
Agreementsc. both a and bd. Neither a not bUnder PMRY scheme, which
is not levied?a. Penal Interestb. Processing chargesc. both a and
bd. None of theseWho are eligible for subsidy under SHG?a. All the
membersb. only BPL membersc. only APL membersd. None of the aboveAs
per Indian Stamp Act, which one attracts stamp duty?a. DPNb.
Agreementsc. both a and bd. Neither a not bUnder PMRY scheme, which
is not levied?a. Penal Interestb. Processing chargesc. both a and
bd. None of theseIn Garnishee Order, the personal account of a
partner ...... for the debts of the firm.a. can be attachedb. can't
be attachedc. can be attached if ordered so by the courtd. None of
theseCustomer keeps certain valuables with the bank for
safe-keeping. Here the bank is a ......a. Debtorb. Creditorc.
Trusteed. LesseeMandate is a ...... agreementa. stampedb.
unstampedc. memorandumd. letterNational Clearing Cell of the RBI is
located in ......A. MumbaiB. New DelhiC. CalcuttaD. ChennaiBanknet
doesn't link ......A. NagpurB. BangaloreC. HyderabadD. AhmedabadHNI
stands for ......a. Hindustan National Investmentb. High National
Investmentc. High Networth Individuald. None of the
aboveCommunication software which allows free format messaging and
file transfer on Banknet infrastructure is ......A. NICNETB.
BanknetC. RBI NetD. IndonetSmart Card is ......a. Special purpose
Cardsb. Processing unit contains memory for storing datac.
Processing unit for software handlingd. None of theseBanknet link
...... citiesA. 5B. 6C. 7D. 8When goods and services are sold,the
monetary product is known as.A-capitalB-incomeC-assetD-profitE-
revenueCheque book facilities are provided to deposit customers
byCommercial BanksMutual FundsNBFCsAll of the aboveProfit and loss
account of a banking company is prepared on which of the following
format...A.schedule VI of companies actB. Form A- schedule
3rdC.form lll , prescribed by RBID. Form B-schedule 3rdE.none of
the aboveWhich of the following is not a category of priority
sector lending....1 Agriculture2 SME3 Retail trade and education
loan4 Micro credit and housing loanAsset Reconstruction company has
to get registration fromA. RBIB. its own bankC. bothD. noneATMs are
typically deployed by banks forwholesale bankingmerchant
bankingretail bankingall the aboveWhich of the following can't be
taken as Proof of Identity?a. Voter IDb. Driving Licencec. Ration
Cardd. Aadhaar CardIRR (internal rate of return) wherever
applicable should not be less than proposed.......of loana.
interest rateB. costC. cash generationD. fixed rateIn
securitisation, who is the obligor?a. Borrowerb. Lending Bankc.
Securitisation Companyd. None of the aboveWhite levelled ATM can be
setup bya.RRBsb.Co-operative banksc.NBFCd.any bankINTEREST IN SB
A/C IS CALCULATED ON(A) MINIMUM BALANCE DURING THE MONTH(B) BALANCE
AS ON 30TH OF THE MONTH(C) MINIMUM BALANCE BETWEEN 10TH & LAST
DAY OF THE MONTH(D) ON DAILY BALANCE BASISQ 2 . Microcredit
concentrates on______a) small loanb) womenc) rural areasd) all of
theseA firm has been changing its depreciation policy after every
2-3 years,it is violating, which of the following
concept.A.conservation conceptB.consistency conceptC.accounting
period conceptD.historical cost concept.If A bank is planning to
shift or close his branch the bank have to give prior notice of
____ months?Which of the following is not a category of priority
sector lending....1 Agriculture2 SME3 Retail trade and education
loan4 Micro credit and housing loan21. Participatory notes are
issued by _____.a. NREs b. NRIsc. FIIs d. PIOs
22. Which of the following can't be included in the money
market?a. CDsb. Treasury Billsc. Corporate Securitiesd. Call/Notice
money
23. Which of the following is part of the money market?a.
Debenturesb. Bonds issued by PSUsc. Term Moneyd. Bonds issued by
Govt
24. As per Basel II recommendations, there are _____ key
principles for Supervisory Review.a. 3b. 4c. 5d. 6
25. Who regulates the Insurance Business in India?a. RBIb.
SEBIc. IRDAd. AMFI
26. As a cover for bank note issue, RBI keeps some minimum value
of total approved assets in the form of _____.a. cash and bank
balancesb. cash, gold coins and bank balancesc. gold coins, bullion
and foreign securitiesd. all the above
27. RBI exercises monetary control in India through _____.a.
Issue of currencyb. Cash reserve and liquid reserve ratiosc. Repo
and Reverse Repo Rated. Regulated Payment System
28. The apex institution which handles refinance for agriculture
and rural development is called _____.a) RBIb) SIDBIc) NABARDd)
SEBI
29. LC which can be amended or cancelled by the opening bank is
called_____.a. Transferable LCb. Irrevocable LCc. Revocable LCd.
Revolving LC
30. For controlling inflationary or deflationary situations in
India, RBI makes use of (which one is excluded) _____.a. Cash
Reserve Ratiob. Statutory Liquidity ratioc. Open Market
operationsd. Liquidity adjustment facility
31. Which one of the following doesn't come under the functions
of RBI in India?a. Regulating the Money Marketb. Supervision over
NBFCsc. Supervision over FIIsd. Management of Payment System
32. Sec _____ of RBI Act,1934 gives sole power to RBI to issue
currency notes.a) 10b) 18c) 22d) 26
33. Certification Test for marketing & selling of mutual
fund products is conducted by _____.a. SEBIb. NSE or BSEc. AMFId.
RBI
34. Which of the following is not covered under selective credit
control, at present?a. sugarb. buffer stocks of sugarc. unreleased
stocks of sugar with sugar mills representing free levy sugard.
none of above
35. Which one of the following doesn't come under the functions
of SEBI in India?a. Supervision over listed companiesb. Management
of Payment Systemc. Control over Equity Marketd. Regulation of Debt
Market
36. Which one doesn't come under the classification of scheduled
banks?a. Public Sector Banksb. Private Sector Banksc. Foreign
Banksd. None of these
37. Against which type of following security, the banks can
sanction loans _____.a. commercial paperb. certificate of depositc.
FDR issued by other bankd. none of above
38. Supervision over Capital Market and Stock Exchanges is the
role of _____.a. RBIb. SEBIc. IRDAd. AMFI
39. Which one is not a non-fund based service?a. Collection of
bills and documents b. Letter of Creditc. Bill discountingd. Bank
guarantee
40. Participatory notes are not allowed to be issued to _____.a.
Foreignersb. Non-Residentsc. PIOsd. None of these1. Call Money
means money lent/borrowed between banks and entities like PDs for
_____.a. 1 day b. 2-14 days c. More than 14 days d. None of
these
2. BCSBI has been set up on the recommendations of _____
Committee.a. Jankiraman b. Narasimhan c. Tarapore d. Rangarajan
3. Which of the following products in retail banking do not fall
under retail deposit products?a. no frill accountsb. deposit
accounts of senior citizensc. depository servicesd. all the
above
4. Inter-Bank Term money means, borrowings among banks for
_____.a. 1 dayb. 2-14 days c. more than 14 days d. None of
these
5. Under forfaeiting, the exporter is able to transfer _____
risk.a. Credit b. Political c. Interest Rate d. All the above
6. CPs are issued normally for a tenure of_____.a. 30 Daysb. 60
Days c. 90 Days d. 120 Days
7. The validity period of SEBI's observation letter for IPO
offer document is_____.a. 1 month b. 2 months c. 3 months d. 6
months
8. Reforms in the financial services sector were initiated on
the recommendations of _____ Committee.a. Jankiraman b. Narasimhan
c. Tarapore d. Rangarajan
9. Which of the following is value added service as part of
wholesale banking?a. structured financeb. channel financingc.
supply chain managementd. letter of credit
10. Treasury bills are issued for a period of up to_____.a. 31
days b. 91 days c. 182 Days d. 364 days
11. Notice Money means money lent/borrowed between banks and
entities like PDs for _____.a. 1 day b. 2-14 days c. More than 14
days d. None of these
12. Coins are issued by ____.a. RBI b. Govt of India c. both a
and b d. None of these
13. The negotiable financial instrument which is traded on a
stock exchange of another country but represents security issued by
foreign listed company is called _____.a. buyers creditb.
depository receiptc. cross listed stockd. participatory note
14. Universal Banking means _____.a. International Banking b.
Wholesale Banking c. Offering multiple Financial Products d. All of
the above
15. Which is not a major promoter of CIBIL?a. HDFC b. SBI c. RBI
d. Trans Union International Inc.
16. Normally what type of movement is seen in interest rate with
change in bank rate by RBI?a. if bank rate is reduced, interest
rate of Banks increaseb. if bank rate is increased, interest rate
of Banks decrease c. if bank rate is reduced, interest rate of
Banks decrease d. if bank rate is reduced or increased, there is no
change in the interest rate of Banks
17. Which one is not a fund based service?a. Short term finance
b. Letter of Credit c. Bill discounting d. Export credit
18. Which of the following can't be included in the definition
of "Financial Intermediary"?a. Financial Institutionsb. Banks c.
NBFC & Mutual Funds d. None of these
19. In strategic Alliance, the alliance partners ______.a. Merge
with each other b. One partner acquires the other c. Remain
separate entities d. None of these
20. Which of the following is an important reason for regulation
of banking system?a. to promote confidence of public in banking
systemb. to protect interest of the investorsc. to ensure that the
financial markets are efficient and transparentd. all the above
114. The risk arising owing to non-enforceability of contract
against a counter party is the ____ risk.a) Legalb) Systematicc)
Creditd) LiquidityAns: a113. A Bank received an LC for USD 2 Mio
issued by MT 700 and opened on Jan 25, 2011. The credit calls for
shipment of 200 tonnes of goodquality wheat cultivated in Punjab.
What is the time available for issuing bank for examination of
documents under UCP600?a. 21 daysb. Reasonable time not exceeding 7
daysc. Reasonable time not exceeding 7 banking daysd. Five banking
daysAns: d111. Which of the following curency is not quoted as
indirect quote (rate)?a) NZDb) USDc) GBPd) EuroAns: bRef: Page
10Normally all curencies are quoted as indirect quotes except for
the following GBP, Euro, AUd, and NZD. USD is quoted as direct
quote.110. Select the incorrect sentence / sentences from the
following:1. In direct quotes, local currency is variable.2. In
direct quotes, local currency is fixed.3. In indirect quotes, local
currency is variable.4. In indirect quotes, local currency is
fixed.a) 1 and 2b) 1 and 3c) 2 and 3d) 2 and 4Ans: cRef: Page
10109. All rates quoted in foreign exchange are generally ____
rates.a) Spotb) Tomc) Forwardd) ValueAns: aRef: Page 9108. All
foreign currency inward remittances upto ......, as per FEDAI
guidelines, be converted immediately into Indian Rupees?a. Rs.
50000 equivalentb. USD 10000c. USD 5000d. 1000Ans: c107. The value
of the currency is decided by supply and demand factors for a
particular currency in ____ rates mechanism.a) Fixedb) Floatingc)
Both a and bd) None of theseAns: bRef: Page11106. An import bill
not retired by the importer should be crystallized by the bank on
what day?a. On 21st day from the date of Bill of Ladingb. On the
10th day from the receipt of documents at the counters of the
bankc. On the expiry of five banking daysd. On the day of receipt
of the BillAns: b105. How forward rates are calculated?a. By adding
a mark up to spot ratesb. By adding premium or discount to spot
ratesc. By deducting premium or discount from spot ratesd. By
adding premium to and deducting discount from spot ratesAns: d104.
Failure of the counter party during the course of the settlement
(due to time zone differencesbetween the two currencies to be
exchnaged) is the ____ risk.a) Operationalb) Marketc) Settlementd)
LegalAns: c103. The crystallisation period cannot exceed ____.a) 15
daysb) 30 daysc) 45 daysd) 60 daysAns: d102. Entities which are
authorised only to buy foreign currency notes and traveller's
cheques are known as _____.a) Authorised Person - Category Ib)
Authorised Person - Category IIc) Authorised Person - Category
IIId) Authorised Person - Category IVAns: c101. FEDAI requires
banks to undertake profit / loss evaluation of forex positions at
the end of each______.a) weekb) monthc) quarterd) yearAns: b99. The
central bank absorbs excess liquidity from the banks using ___.
Select the best option.a) CRRb) SLRc) Repo Rated) Reverse Repo
RateAns: d96. The amount that all banks have to maintain in cash or
in the form of gold or approved securities is known as ___ and it
is a certain percentage of their ___ demand and time liabilities.a)
CRR, netb) CRR, totalc) SLR, netd) SLR, totalAns: d93. Which policy
refers to government borrowings, spending and taxation?a) monetary
policyb) fiscal policyc) both a and bd) None of theseAns: b92.
Which policy is used by the government, central bank or monetary
authority to control the supply, availability and cost of money or
ROI to obtain growth and stability of the economy?a) monetary
policyb) fiscal policyc) both a and bd) None of theseAns: a91. ___
is a standard measure of income / expenditure inequality.a) HDIb)
Gini coefficientc) GDPd) GNPAns: b89. Under which of the following,
100% FDI is not permitted?a) retail trading and lottery businessb)
gambling and bettingc) atomic energyd) print media and
insuranceAns: d88. 100% FDI is permitted under a very limited
number of sectors. Which of the following is one of them?a) retail
trading and lottery businessb) investment companiesc) petroleum and
air transportd) defence, insurance and asset reconstructionAns:
a87. After the introduction of financial sector reforms in capital
market, depository system was replaced with ___.a) 14-day
settlement cycleb) Badla systemc) open outcry systemd) dematting of
securitiesAns: d86. After the introduction of financial sector
reforms in capital market, rolling settlement replaced ___.a)
14-day settlement cycleb) Badla systemc) open outcry systemd)
depository systemAns: a85. Which of the following is the benchmark
for pricing of securities in other markets?a) Money Marketb) G -
Secs Marketc) Foreign Exchange Marketd) Capital MarketAns: b84.
Credit guarantee for collateral free loans to MSE units is provided
by Credit Guarantee Trust Fund administered by ___.a) RBIb) IDBIc)
SIDBId) CCI (Controller of Capital Issues)Ans: c83. Which sector is
also called tertiary sector in India?a) Agriculturalb) Industryc)
Servicesd) External82. Collateral is waived for loans up to Rs ___
to MSE units.a) 1 lakhb) 2 lakhc) 3 lakhd) 5 lakhAns: d76. Pick the
correct statement.a) The quantity of money demanded increases with
the fall in the rate of interest.b) The quantity of money demanded
increases with the decrease in the level of nominal income.c)
Increase in money supply leads to the rise in the rate of
interest.d) Demand of money is directly related to the rate of
interest.Ans: A75. Pick the incorrect statement.a) Bond prices and
rate of interest are inversely related.b) If bond prices go down,
rate of interest increases.c) If bond prices go up, rate of
interest rises.d) If bond prices go up, rate of interest
declines.Ans: C73. CPI is the cost of living index popularly known
as ___.a) Cost push inflationb) Demand pull inflationc) Core
inflationd) Headline inflationAns: C72 Hindu rate of growth is
__.a) 3%b) 3.5%c) 5%d) 7%Ans: B71. An increase in government
expenditure or transfer payments will shift the IS curve ___.a) To
rightb) To leftc) No changed) DownwardsAns: A69. If in market,
money supply increases and interest rate is down, the LM curve will
be __.a) Shift up and to leftb) Shift down and to rightc) Shift up
and to rightd) Shift down and to leftAns: B68. Theory of interest
is based on ____. Select the incorrect option.a) Investment demand
functionb) The interest rate functionsc) The liquidity preference
functiond) The quantity of moneyAns: b66. The finance minister is
required to keep parliament informed through ____ reviews on the
implementation and to take corrective measures if the reviews show
deviations.a) half yearly reviewb) annual reviewsc) monthly
reviewd) quarterly reviewAns: D64. Changes in the level and
composition of taxation and government spending can have impact on
the following variables in the economy. Pick up the odd one.a)
Aggregate demand and the level of economic activityb) The pattern
of resource allocationc) The proper utilization of fundsd) The
distribution of incomeAns: C62. What government of India does in
open market operations to suck money from the market?a) absorbs
bondsb) sells bondsc) increases CRRd) increases interest RateAns:
B61. The Equilibrium Price is also known as _____.a) Market priceb)
Optimum pricec) Real priced) Market-clearing priceAns: D58. ____ is
the rate of interest which a central bank charges on the loans and
advance that it extends to commercial banks and other financial
intermediaries.a) Base rateb) Bank ratec) CRRd) Repo rateAns: B57.
The present banking system is called a _____.a) on line banking
systemb) fractional reserve banking systemc) accrual system of
accountingd) book keeping accounting systemAns: B56. A downward
Sloping Demand Curve relates quantity demanded to ____.a) Supplyb)
Incomec) Priced) DemandAns: C54. Government of India introduced
____ policy for raising interest rate to combat inflation.a)
Expansionary policyb) Monetary policyc) Fiscal policyd)
Contractionary policyAns: D53. Forces behind the demand curve
___.a) Expectation about future economic conditionsb) Average
Incomec) Cost of productiond) Both a and bAns d52. Demographic
advantage is popularly called as demographic ____.a) Preferenceb)
Dividendc) Premiumd) CouponAns: B48. Demand Schedule is the ____.a)
Relationship between demand and quantity boughtb) Relationship
between price and quantity boughtc) Relationship between price and
demandd) None of theseAns: B47. Which of the following is
Capitalistic Economy?a) Englandb) Chinac) Indiad) None of the
aboveAns: A46. 86th constitutional amendment has made free and
compulsory education to all children _____.a) up to age 14 girls
childb) up to 10th class to girlc) 6 to 14 yr to all childrend) 6
to 14 yr to all female childrenAns: C44. IS curve and LM curve
relates which of the two variables?a) Demand and supplyb) Money and
marketc) Money and interest rated) Income and rate of interestAns:
D43. In capital market the erstwhile badla system is replaced by
____.a) open market systemb) outcry systemc) option and futuresd)
Logging systemAns: C42. Which one is the force behind the Supply
Curve?a) Cost of productionb) Technological advancesc) Government
policiesd) All of the aboveAns: D41. Pick odd man out.a) Rentb)
Interestc) Wagesd) MoneyAns: D39. An increase in government
expenditure or transfer payments will shift the IS curve ____.a) To
rightb) To leftc) No changed) DownwardsAns: A37. The economy, in
which the government makes all important decisions about production
and distribution, is called a ____ economy.a) Laissez-faire
economyb) Socialistic economyc) Command economyd) Either of b or
cAns: D38. Which of the following statements is true about
Inflation?a) A rise in the general level of pricesb) Leads to fall
in purchasing powerc) Both a and bd) None of the aboveAns: C36. The
economy, in which the government does not interfere at all in
economic decisions, is called a ____ economy.a) Market economyb)
Capitalistic economyc) Laissez-faire economyd) Command economyAns:
C35. The economy in which individuals and private firms make the
major decisions about production and consumption is called a
____.a) Market economyb) Capitalistic economyc) Socialistic
economyd) Either of a and bAns: D29. Supply curves relate quantity
supplied to ___.a) Supplyb) Demandc) Priced) DemandAns: C28. Forces
behind the supply curvea) Cost of productionb) Technological
advancesc) Government policiesd) All of the aboveAns: D26. Which
phase of business cycle is referred to as crisis?a) Recessionb)
Depressionc) Recoveryd) BoomAns: A21. Narrow money is indicated by
___.a) M1b) M2c) M3d) M4Ans: A20. Which one is not an economic
activity?a) Investmentb) Productionc) Consumptiond) None of
theseAns: D18. Factors of production are categorized into ___
categories.a) 2b) 3c) 4d) 5Ans: C17. Who is considered as father of
Modern Economics?a) Alfred Marshallb) Lionel Robbionsc) Adam
Smithd) None of theseAns: C16. In ____ phase of business cycle,
underemployment will be widespread.a) Recessionb) Depressionc)
Recoveryd) BoomAns: B14. Economic Sector reforms were started in
India ina) 1983b) 1985c) 1991d) 1981Ans: C08. Money is anything
which performs the following. Pick up the odd one.a) A measure of
valueb) Medium of exchangec) A store of value over timed) Measure
of prosperityAns: D07. Macro Economics doesn't deal with ___.a)
GDPb) Unemployment Ratesc) Individual Firmsd) Price IndicesAns:
C05. Which price index is used in India to calculate inflation for
policy formulation?a) Consumer price index...b) GDP deflatorc)
Wholesale price indexd) Retail price indexAns: C04. In demand
curve, quantity and prices are.......related.a. Directly...b.
Inverselyc. Indirectlyd. MarketAns: B1. CPI measures prices
at......a. Wholesale Levelb. Consumer Levelc. Retail Leveld. None
of theseRight Ans - C
2:50Daily Quiz - JAIIB-ACCOUNTING & FINANCE FOR
BANKERSSelect the correct answer and click Get Results button
provided below. The answers will be displayed in the text box
provided there.
All The Best !!!.Top of Form1. Which of the following may not be
part of the reconciliation process.a) Interest on overdraft.b)
Dishonour of cheque.c) Cash drawn from bank.d) Cheque deposited but
not collected.
2. Which of the following is part of reconciliationa) Cash paid
by customer to the trader.b) Cheque issued, presented, and on the
debit side in the passbook. and cashbook.c) Bank charges debited.d)
b) & c)
3. Reconciliation of overcasting on receipts side of cash booka)
Increases the balance in the cash book. b) Increases the balance in
the passbook.c) Decreases the balance in the cash book.d) Decreases
the balance in the passbook.
4. Which of the following is truea) Bank Reconciliation
Statement(BRC) is an account.b) BRC is prepared by the bank.c) BRC
shows causes of disagreement between cash book & passbook.d)
BRC shows only excess of cash book over passbook.
5. If x is a credit balance in cash book carried forward on the
debit side, then reconciliation isa) Casting x on the debit side of
cash book.b) Casting 2x on the credit side of cash book.c) Casting
2x on debit side of cash book.d) Casting x on credit side of cash
book.
6. If a trader enjoys an overdraft facility,thena) His passbook
will show debit balance.b) His cash book will show credit balance
.c) Both a) & b).d) Neither a) nor b).
7. Credit balance in a passbook indicatesa) Excess of deposits
over withdrawals.b) Excess of withdrawals over deposits.c) Debit
balance in cash book.d) a) & c).
8. At any point in time, cash book & passbook balances will
not be same.a) True.b) False.c) May be.d) None of above
9. A trader has a strict overdraft limit of 10,000/-, overdraft
balance of 9,500/-; issues 2 cheques of 500/- each, which are
presented, thena) His cash book will show higher overdraft balance
than passbook.b) His cash book will show lesser overdraft balance
than passbook.c) His cash book will show same balance as
passbook.d) Neither a) nor b) nor c).
10. Direct deposit by a customer in the bank with no overdraft
facilitya) Shows a higher passbook balance than cash bookb) Shows a
lesser passbook balance than cash book.c) Shows no difference.d)
None of the above.
11. Credit sale of X to Suresh is posted to his credit , then
rectification isa) Credit Suresh to the extent of 2X.b) Credit
Suresh to the extent of X.c) Debit Suresh to the extent of 2X.d)
Debit Suresh to the extent of X.
12. Freight expenses for carrying Machinery is carried to Travel
a/c, then rectification in trial balance isa) Debit machinery a/c
and credit travel a/c.b) Credit machinery a/c and debit travel
a/c.c) Credit profit and loss account and debit travel a/c.d) Debit
profit and loss a/c( P&L a/c) and credit travel a/c.
13. Goods worth X sold to Vijay was entered in purchase account;
The rectification isa) Credit purchases and credit sales to the
extent of X each & debit Vijay.b) Debit purchases and debit
sales to the extent of X each & credit Vijay.c) Debit sales to
the extent of 2X.d) Credit purchases to the extent of 2X.
14. Machinery worth (WDV) 1000/- sold for 1200/- is entered in
sales register. The rectification isa) Credit sales 1200/-, debit
machinery 1000/- and debit P&L a/c 200/-.b) Debit sales 1200/-
, credit machinery 1000/- and credit P&L a/c 200/-.c) Credit
machinery 1200/-, debit sales 1000/- and debit P&L a/c 200/-.d)
Debit machinery 1200/-, credit sales 1000/- and credit P&L a/c
200/-.
15. Sales return of amount X from Vijay was wrongly entered in
purchase book. The rectification isa) Debit sales to the extent of
2X.b) Credit purchases to the extent of 2X.c) Credit Vijay 2X debit
sales and purchases to the extent X each.d) Debit sales return and
credit purchases.
16. Which of the following will not affect Trial Balancea) Goods
sold on credit not recorded in books.b) Overstating of sales
register.c) Rent account credited instead of debit.d) Salary
debited to the extent the amount.
17. Suspense a/c is not used in which of the following cases.a)
before trial balance.b) after trial balance.c) before final
accounts.d) none of the above.
18. Which of the following is truea) Trial balance ensures
arithmetical accuracy.b) Trial balance errors are not located then
the difference is sent to suspense a/c.c) Trial balance is base for
final accounts.d) All of the above.
19. Statement showing debit and credit balances of ledger
accounts isa) Gross trial balance.b) Net trial balance.c) Trial
balance.d) d) None of the above.
20. Which of the following are truea) Nominal accounts always
have credit balances.b) Real accounts always have debit balances.c)
Debit balance in ledger account is credit balance in trial
balance.d) P&L a/c appears in trial balance.
Score =
Correct Answers:
Bottom of Form
1. c 2. D 3. C 4. C 5. B 6. C 7. D 8. C 9. A 10. A 11. C 12. A
13. A 14. B 15. D 16. A 17. A 18. D 19. C 20. B
Time Start Now :8:52Daily Quiz - JAIIB-ACCOUNTING & FINANCE
FOR BANKERSSelect the correct answer and click Get Results button
provided below. The answers will be displayed in the text box
provided there.
All The Best !!!.Top of Form1. Freight expenses for moving
machinery to factory isa) Revenue expenses.b) Deferred revenue
expenditure.c) Capital expenditure.d) None of the above.
2. Which of the following is false?a) Replacement of defective
part of machinery is revenue expenditure.b) Daily wages paid for
erection /installing of machinery is capital expenditure.c)
Underwriting commission for issue of shares is revenue
expenditure.d) Excess of sale price of Machinery over its W D Value
but less than cost price is treated as revenue receipt.
3. Which of the following is not a deferred revenue
expenditurea) Preliminary expenses for setting up a company.b)
Rights issue amount.c) Huge sales promotion expenditure in launch
of new product.d) Cost of preparing project report
4. Which of the following is truea) Bank Reconciliation
Statement(BRC) is an account.b) BRC is prepared by the bank.c) BRC
shows causes of disagreement between cash book & passbook.d)
BRC shows only excess of cash book over passbook.
5. For an expense to be classified as revenue or capital depends
ona) Kind of expense.b) Duration of the benefit of the
expenditure.c) Effect on revenue earning capacity.d) All of the
above.
6. Inflation of current profits could be on account ofa)
Inflation of closing stock in current year.b) Deflation of closing
stock in current year.c) Inflation of closing stock in previous
year.d) None of the above.
7. Cost of goods sold isa) Opening stock (+) purchases (+)
closing stock.b) Opening stock (+) purchases (-) closing stock.c)
Opening stock (-) purchases (+) closing stock.d) None of above.
8. In LIFO method of inventory valuationa) Issue of stocks to
production is at latest price.b) Closing stock is at latest
price.c) Both a) & b).d) Neither a) nor b).
9. In FIFO method of inventory valuationa) Closing stock is at
latest price.b) Issue of stocks to production is at earliest
price.c) Both a) & b).d) Neither a) nor b).
10. Which of the following is most desirablea) Pricing issue of
goods to match current material costs.b) Overstating profits.c)
Understating profits.d) none of the above.
11. In a market of falling prices which is the best optiona)
LIFO.b) FIFO.c) Weighted average cost method (WACM).d) b) or c)
12. In a rising market which is the best optiona) LIFO.b)
FIFO.c) WACM.d) b) or c)
13. As per accounting standards which of the following is not a
preferred methoda) LIFO.b) FIFO.c) WACM.d) All of them.
14. Machinery worth (WDV) 1000/- sold for 1200/- is entered in
sales register. The rectification isa) Credit sales 1200/-, debit
machinery 1000/- and debit P&L a/c 200/-.b) Debit sales 1200/-
, credit machinery 1000/- and credit P&L a/c 200/-.c) Credit
machinery 1200/-, debit sales 1000/- and debit P&L a/c 200/-.d)
Debit machinery 1200/-, credit sales 1000/- and credit P&L a/c
200/-.
15. Cost of goods sold reflects the usual physical flow of
goods. This statement is true ofa) LIFO.b) FIFO.c) WACM.d) Adjusted
selling price method.
16. Under written down value method of depreciation., the W D V
of the asset is alwaysa) equal to zerob) < zeroc) > zerod)
None of the above
17. Depreciation is an estimate becausea) rates of depreciation
are not fixedb) residual value of the asset is not known.c) useful
life of the asset is difficult to ascertaind) b) & c) .
18. In sinking fund method of depreciation accountinga) A fund
is created at the beginning to which depreciation is charged
annuallyb) Since acquiring an asset results in sunk costs
depreciation of the asset is called soc) Depreciation charged
annually is transferred to a fund which is invested in growth and
income generating securities to take care of the replacement of the
assetd) None of the above.
19. What is G A A Pa) General American Accounting Practicesb)
Greatly Accepted Accounting Practicesc) Generally Accepted
Accounting Principles.d) Good American Accounting Practices
20. In operating lease the period isa) Less than the useful life
of the asset.b) Greater than the useful life of the assetc) Equal
to the useful life of the assetd) None of the above.
Score =
Correct Answers:
Bottom of Form
1. c 2. C 3. B 4. C 5. D 6. A 7. B 8. A 9. C 10. A 11. D 12. D
13. A 14. B 15. B 16. C 17. D 18. C 19. C 20. A33:08Daily Quiz -
JAIIB-ACCOUNTING & FINANCE FOR BANKERSSelect the correct answer
and click Get Results button provided below. The answers will be
displayed in the text box provided there.
All The Best !!!.Top of Form1. Liabilities have ________ balance
and assets have ___________ balance.a) Credit; debitb) debit;
creditc) Credit; creditd) nil; credit
2. Which one of the following statement is wrong?a) Long term
liabilities + Short term liabilities = Total outside liabilitiesb)
Net worth + Long term liabilities = Long term sources of fundsc)
Current liabilities + Long term liabilities = Net worthd) Networth
+ Long term liabilities + Current liabilities = Source of Funds
3. Surplus of long term sources over long term uses calleda)
Quick assets b) Net worthc) Net working capitald) Intangible
assets
4. Which of the following does not match:a) Pre-operative
expenses (-) current liabilityb) Outstanding expenses (-) current
liabilityc) Prepaid expenses (-) current assetsd) Preliminary
expenses (-) intangible assets
5. Networking capital can be calculated as:a) Long term sources
(-) long term usesb) Current assets (-) current liabilitiesc)
Current assets (-) current liabilities other than bank borrowingsd)
Both (a) and (b)
6. The total liabilities of a firm are 50, its long term uses 20
and long term sources 30. Which one of the following statement is
correct?a) Current assets = 50 and current liabilities = 20b)
Current assets = 30 and current liabilities = 20c) Current assets =
20 and current liabilities = 30d) Current assets = 30 and current
liabilities = 30
7. The total assets of a firm are 80 and its long term sources
are 50 and net worth 20. Which one of the following statement is
correct?a) Current liabilities 30, total outside liabilities 60b)
Current liabilities 10, total outside liabilities 70c) Current
liabilities 20, total outside liabilities 60d) Current liabilities
cannot be worked as information is incomplete
8. A Car is a ________________(find the more suitable option
from the following)a) Current asset for a transport operator.b)
Fixed asset for a transport operator.c) Current assets for a
auto-mobile dealer /manufacturer and fixed assets for a transport
operatord) Current assets for a auto-mobile dealer / manufacturer
and transport operator
9. Letter of credit and Guarantees issued by banks on behalf of
the organization is tread as _________a) Current liabilityb)
Current assetc) Long term liabilityd) Contingent liability
10. If a company issues bonus shares, the net worth of the
company:a) Will increaseb) Will not changec) Will declined) It will
change, may increase or decrease
11. A join stock companys total assets are Rs. 45 crore which
include intangible assets worth Rs. 2 cr. Its liabilities other
than share capital and reserves are Rs. 40 cr. What is the amount
of tangible net worth?a) 3 crb) 7 crc) 5 crd) 2 cr
12. A firm is having paid up capital of Rs. 2 lac, reserves of
Rs. 1 lac, current liabilities of Rs. 1 lac, prepaid expenses of
Rs. 0.20 lac and preoperative expenses of Rs. 0.30 lac. What will
be its tangible net worth:a) Rs. 2.50 lacb) Rs. 2.70 lacc) Rs. 3
lacd) Rs. 3.50 lac
13. A balance sheet shows total liabilities at Rs. 10 lac,
current liabilities at Rs. 5 lac and long term debt Rs. 2 lac and
debit balance of profit and loss account at Rs. 1 lac. The tangible
net worth isa) Rs. 2 lacb) Rs. 4 lacc) Rs. 3 lacd) Rs. 5 lac
14. The term QUASI EQUITY refers toa) Unsecured loans from
friends and relatives which are pegged to our advanceb) Unpaid
share capitalc) Capital reserved) All the above
15. In a milk society, the livelihood cows are classified asa) A
fixed assetsb) A current assetsc) Both the aboved) None of
these
16. When the reserves of a company are capitalized, the result
is :a) a public issueb) a private placementc) rights issue of
sharesd) bonus issue of shares
17. Calculate the tangible net worth from the following balance
Sheet Capital Rs. 50, 000 , Fixed asset Rs. 60, 000 Term Loan Rs.
10, 000, Current Asset Rs. 30, 000, Current Liabilities Rs.40,000 ,
Goodwill Rs. 10, 000a) Rs.50, 000/-b) Rs.10, 000/-c) Rs.40, 000/-d)
Date insufficient
18. A company has net worth Rs. 5 lac, Term Liability Rs. 10
lacs. Fixed assets Rs. 16 lacs and Current assets Rs. 25 lacs.
There is no intangible Assets or other Non current assets.
Calculate its Net Working Capitala) Rs. 10 lacb) Rs. 1 lacc) Rs. 9
lacd) Rs. (-) 1 lac
19. Current ratio is 2:5 Current Liability is Rs. 30, 000. The
Net working capital isa) Rs. 12, 000b) Rs. 18, 000c) Rs. (-) 45,
000d) Rs. (-) 18, 000
20. In last year the Current Ratio was 3:1 and Quick Ratio was
2:1. Presently Current ratio is 3:1 but quick Ratio is 1:1. This
indicates comparablya) high liquidityb) higher stockc) lower
stockd) high turnover
Score =
Correct Answers:
Bottom of Form
1. a 2. C 3. C 4. A 5. D 6. B 7. A 8. C 9. D 10. B 11. A 12. B
13. A 14. A 15. A 16. D 17. C 18. D 19. D 20. BTime Start Now
:0:51JAIIB Quiz - Legal & Regulatory Aspects of BankingSelect
the correct answer and click Get Results button provided below. The
answers will be displayed in the text box provided there.
All The Best !!!.Top of Form1. The charge by way of lien over
goods belonging to a company must be registered with Registrar of
Companies within a period of ______.a) 30 days of creation of lawb)
This charge need not be registered as this is not hypothecation,
mortgage etcc) 30 days of default in repaymentc) A or C whichever
is earlier
2. DRT has jurisdiction relating to cases pertaining to Banks,
Financial Institutions with debt amount of.a) Rs. 1 lakh and
aboveb) Rs. 5 lakh and abovec) Rs. 10 lakh and aboved) Rs. 15 lakh
and above
3. The formation of a company is governed by the rules and
regulations as contained in ?a) Indian Companies Actb) RBI actc) BR
Actd) None of the above
4. For determining the advance amount the shares will be valued
on the basis of.a) Current market priceb) Average market price for
the last 12 monthsc) Face Valued) A or B whichever is lower.
5. An Annuity is an ordinary Annuity if,a) Payments are required
to be made at the beginning of each period.b) Payments are required
to be made at the middle of each periodc) Payments are required to
be made at ordinary instalmentsd) Payments are required to be made
at the end of each period.
6. Banking Ombudsman is appointed bya) Central Government /
Ministry of Financeb) State Governmentc) IDBId) RBI
7. A Customer Service Meet should be organized at every Branch
.a) Once in a Fortnightb) Once in a Quarterc) Once in a Monthd)
Once in a Half Yearly
8. Who cannot file a complaint under Consumer Protection Act?a)
Banksb) State Governmentc) Public Interest Litigation Groupd)
Persons receiving services free of charge
9. In how many days the opposite party can give the version of
the case?a) 5 daysb) 10 daysc) 30 daysd) no limit
10. The banking ombudsman receives maximum number of complaints
in respect of;a) foreign bankb) public sector bankc) regional rural
bankd) co- operative bank
Score =
Correct Answers:
Bottom of Form
1. b 2. C 3. A 4. D 5. D 6. D 7. D 8. D 9. C 10. B
An asset cost Rs. 3,30,000/- has residual value of Rs. 30,000/-,
and is expected to last 4 years. Calculate the depreciation for 4th
year using sum of the digits Method.a. Rs. 1,20,000/-b. Rs.
60,000/-c. Rs. 30,000/-d. Rs. 15,000/-2:52Daily Quiz -
JAIIB-ACCOUNTING & FINANCE FOR BANKERSSelect the correct answer
and click Get Results button provided below. The answers will be
displayed in the text box provided there.
All The Best !!!.Top of Form1. Which of the following may not be
part of the reconciliation process.a) Interest on overdraft.b)
Dishonour of cheque.c) Cash drawn from bank.d) Cheque deposited but
not collected.
2. Which of the following is part of reconciliationa) Cash paid
by customer to the trader.b) Cheque issued, presented, and on the
debit side in the passbook. and cashbook.c) Bank charges debited.d)
b) & c)
3. Reconciliation of overcasting on receipts side of cash booka)
Increases the balance in the cash book. b) Increases the balance in
the passbook.c) Decreases the balance in the cash book.d) Decreases
the balance in the passbook.
4. Which of the following is truea) Bank Reconciliation
Statement(BRC) is an account.b) BRC is prepared by the bank.c) BRC
shows causes of disagreement between cash book & passbook.d)
BRC shows only excess of cash book over passbook.
5. If x is a credit balance in cash book carried forward on the
debit side, then reconciliation isa) Casting x on the debit side of
cash book.b) Casting 2x on the credit side of cash book.c) Casting
2x on debit side of cash book.d) Casting x on credit side of cash
book.
6. If a trader enjoys an overdraft facility,thena) His passbook
will show debit balance.b) His cash book will show credit balance
.c) Both a) & b).d) Neither a) nor b).
7. Credit balance in a passbook indicatesa) Excess of deposits
over withdrawals.b) Excess of withdrawals over deposits.c) Debit
balance in cash book.d) a) & c).
8. At any point in time, cash book & passbook balances will
not be same.a) True.b) False.c) May be.d) None of above
9. A trader has a strict overdraft limit of 10,000/-, overdraft
balance of 9,500/-; issues 2 cheques of 500/- each, which are
presented, thena) His cash book will show higher overdraft balance
than passbook.b) His cash book will show lesser overdraft balance
than passbook.c) His cash book will show same balance as
passbook.d) Neither a) nor b) nor c).
10. Direct deposit by a customer in the bank with no overdraft
facilitya) Shows a higher passbook balance than cash bookb) Shows a
lesser passbook balance than cash book.c) Shows no difference.d)
None of the above.
11. Credit sale of X to Suresh is posted to his credit , then
rectification isa) Credit Suresh to the extent of 2X.b) Credit
Suresh to the extent of X.c) Debit Suresh to the extent of 2X.d)
Debit Suresh to the extent of X.
12. Freight expenses for carrying Machinery is carried to Travel
a/c, then rectification in trial balance isa) Debit machinery a/c
and credit travel a/c.b) Credit machinery a/c and debit travel
a/c.c) Credit profit and loss account and debit travel a/c.d) Debit
profit and loss a/c( P&L a/c) and credit travel a/c.
13. Goods worth X sold to Vijay was entered in purchase account;
The rectification isa) Credit purchases and credit sales to the
extent of X each & debit Vijay.b) Debit purchases and debit
sales to the extent of X each & credit Vijay.c) Debit sales to
the extent of 2X.d) Credit purchases to the extent of 2X.
14. Machinery worth (WDV) 1000/- sold for 1200/- is entered in
sales register. The rectification isa) Credit sales 1200/-, debit
machinery 1000/- and debit P&L a/c 200/-.b) Debit sales 1200/-
, credit machinery 1000/- and credit P&L a/c 200/-.c) Credit
machinery 1200/-, debit sales 1000/- and debit P&L a/c 200/-.d)
Debit machinery 1200/-, credit sales 1000/- and credit P&L a/c
200/-.
15. Sales return of amount X from Vijay was wrongly entered in
purchase book. The rectification isa) Debit sales to the extent of
2X.b) Credit purchases to the extent of 2X.c) Credit Vijay 2X debit
sales and purchases to the extent X each.d) Debit sales return and
credit purchases.
16. Which of the following will not affect Trial Balancea) Goods
sold on credit not recorded in books.b) Overstating of sales
register.c) Rent account credited instead of debit.d) Salary
debited to the extent the amount.
17. Suspense a/c is not used in which of the following cases.a)
before trial balance.b) after trial balance.c) before final
accounts.d) none of the above.
18. Which of the following is truea) Trial balance ensures
arithmetical accuracy.b) Trial balance errors are not located then
the difference is sent to suspense a/c.c) Trial balance is base for
final accounts.d) All of the above.
19. Statement showing debit and credit balances of ledger
accounts isa) Gross trial balance.b) Net trial balance.c) Trial
balance.d) d) None of the above.
20. Which of the following are truea) Nominal accounts always
have credit balances.b) Real accounts always have debit balances.c)
Debit balance in ledger account is credit balance in trial
balance.d) P&L a/c appears in trial balance.
Score =
Correct Answers:
Bottom of Form
1. c 2. D 3. C 4. C 5. B 6. C 7. D 8. C 9. A 10. A 11. C 12. A
13. A 14. B 15. D 16. A 17. A 18. D 19. C 20. BTime Start Now
:9:52Daily Quiz - JAIIB-ACCOUNTING & FINANCE FOR BANKERSSelect
the correct answer and click Get Results button provided below. The
answers will be displayed in the text box provided there.
All The Best !!!.Top of Form1. Freight expenses for moving
machinery to factory isa) Revenue expenses.b) Deferred revenue
expenditure.c) Capital expenditure.d) None of the above.
2. Which of the following is false?a) Replacement of defective
part of machinery is revenue expenditure.b) Daily wages paid for
erection /installing of machinery is capital expenditure.c)
Underwriting commission for issue of shares is revenue
expenditure.d) Excess of sale price of Machinery over its W D Value
but less than cost price is treated as revenue receipt.
3. Which of the following is not a deferred revenue
expenditurea) Preliminary expenses for setting up a company.b)
Rights issue amount.c) Huge sales promotion expenditure in launch
of new product.d) Cost of preparing project report
4. Which of the following is truea) Bank Reconciliation
Statement(BRC) is an account.b) BRC is prepared by the bank.c) BRC
shows causes of disagreement between cash book & passbook.d)
BRC shows only excess of cash book over passbook.
5. For an expense to be classified as revenue or capital depends
ona) Kind of expense.b) Duration of the benefit of the
expenditure.c) Effect on revenue earning capacity.d) All of the
above.
6. Inflation of current profits could be on account ofa)
Inflation of closing stock in current year.b) Deflation of closing
stock in current year.c) Inflation of closing stock in previous
year.d) None of the above.
7. Cost of goods sold isa) Opening stock (+) purchases (+)
closing stock.b) Opening stock (+) purchases (-) closing stock.c)
Opening stock (-) purchases (+) closing stock.d) None of above.
8. In LIFO method of inventory valuationa) Issue of stocks to
production is at latest price.b) Closing stock is at latest
price.c) Both a) & b).d) Neither a) nor b).
9. In FIFO method of inventory valuationa) Closing stock is at
latest price.b) Issue of stocks to production is at earliest
price.c) Both a) & b).d) Neither a) nor b).
10. Which of the following is most desirablea) Pricing issue of
goods to match current material costs.b) Overstating profits.c)
Understating profits.d) none of the above.
11. In a market of falling prices which is the best optiona)
LIFO.b) FIFO.c) Weighted average cost method (WACM).d) b) or c)
12. In a rising market which is the best optiona) LIFO.b)
FIFO.c) WACM.d) b) or c)
13. As per accounting standards which of the following is not a
preferred methoda) LIFO.b) FIFO.c) WACM.d) All of them.
14. Machinery worth (WDV) 1000/- sold for 1200/- is entered in
sales register. The rectification isa) Credit sales 1200/-, debit
machinery 1000/- and debit P&L a/c 200/-.b) Debit sales 1200/-
, credit machinery 1000/- and credit P&L a/c 200/-.c) Credit
machinery 1200/-, debit sales 1000/- and debit P&L a/c 200/-.d)
Debit machinery 1200/-, credit sales 1000/- and credit P&L a/c
200/-.
15. Cost of goods sold reflects the usual physical flow of
goods. This statement is true ofa) LIFO.b) FIFO.c) WACM.d) Adjusted
selling price method.
16. Under written down value method of depreciation., the W D V
of the asset is alwaysa) equal to zerob) < zeroc) > zerod)
None of the above
17. Depreciation is an estimate becausea) rates of depreciation
are not fixedb) residual value of the asset is not known.c) useful
life of the asset is difficult to ascertaind) b) & c) .
18. In sinking fund method of depreciation accountinga) A fund
is created at the beginning to which depreciation is charged
annuallyb) Since acquiring an asset results in sunk costs
depreciation of the asset is called soc) Depreciation charged
annually is transferred to a fund which is invested in growth and
income generating securities to take care of the replacement of the
assetd) None of the above.
19. What is G A A Pa) General American Accounting Practicesb)
Greatly Accepted Accounting Practicesc) Generally Accepted
Accounting Principles.d) Good American Accounting Practices
20. In operating lease the period isa) Less than the useful life
of the asset.b) Greater than the useful life of the assetc) Equal
to the useful life of the assetd) None of the above.
Score =
Correct Answers:
Bottom of Form
1. c 2. C 3. B 4. C 5. D 6. A 7. B 8. A 9. C 10. A 11. D 12. D
13. A 14. B 15. B 16. C 17. D 18. C 19. C 20. A
33:10Daily Quiz - JAIIB-ACCOUNTING & FINANCE FOR
BANKERSSelect the correct answer and click Get Results button
provided below. The answers will be displayed in the text box
provided there.
All The Best !!!.Top of Form1. Liabilities have ________ balance
and assets have ___________ balance.a) Credit; debitb) debit;
creditc) Credit; creditd) nil; credit
2. Which one of the following statement is wrong?a) Long term
liabilities + Short term liabilities = Total outside liabilitiesb)
Net worth + Long term liabilities = Long term sources of fundsc)
Current liabilities + Long term liabilities = Net worthd) Networth
+ Long term liabilities + Current liabilities = Source of Funds
3. Surplus of long term sources over long term uses calleda)
Quick assets b) Net worthc) Net working capitald) Intangible
assets
4. Which of the following does not match:a) Pre-operative
expenses (-) current liabilityb) Outstanding expenses (-) current
liabilityc) Prepaid expenses (-) current assetsd) Preliminary
expenses (-) intangible assets
5. Networking capital can be calculated as:a) Long term sources
(-) long term usesb) Current assets (-) current liabilitiesc)
Current assets (-) current liabilities other than bank borrowingsd)
Both (a) and (b)
6. The total liabilities of a firm are 50, its long term uses 20
and long term sources 30. Which one of the following statement is
correct?a) Current assets = 50 and current liabilities = 20b)
Current assets = 30 and current liabilities = 20c) Current assets =
20 and current liabilities = 30d) Current assets = 30 and current
liabilities = 30
7. The total assets of a firm are 80 and its long term sources
are 50 and net worth 20. Which one of the following statement is
correct?a) Current liabilities 30, total outside liabilities 60b)
Current liabilities 10, total outside liabilities 70c) Current
liabilities 20, total outside liabilities 60d) Current liabilities
cannot be worked as information is incomplete
8. A Car is a ________________(find the more suitable option
from the following)a) Current asset for a transport operator.b)
Fixed asset for a transport operator.c) Current assets for a
auto-mobile dealer /manufacturer and fixed assets for a transport
operatord) Current assets for a auto-mobile dealer / manufacturer
and transport operator
9. Letter of credit and Guarantees issued by banks on behalf of
the organization is tread as _________a) Current liabilityb)
Current assetc) Long term liabilityd) Contingent liability
10. If a company issues bonus shares, the net worth of the
company:a) Will increaseb) Will not changec) Will declined) It will
change, may increase or decrease
11. A join stock companys total assets are Rs. 45 crore which
include intangible assets worth Rs. 2 cr. Its liabilities other
than share capital and reserves are Rs. 40 cr. What is the amount
of tangible net worth?a) 3 crb) 7 crc) 5 crd) 2 cr
12. A firm is having paid up capital of Rs. 2 lac, reserves of
Rs. 1 lac, current liabilities of Rs. 1 lac, prepaid expenses of
Rs. 0.20 lac and preoperative expenses of Rs. 0.30 lac. What will
be its tangible net worth:a) Rs. 2.50 lacb) Rs. 2.70 lacc) Rs. 3
lacd) Rs. 3.50 lac
13. A balance sheet shows total liabilities at Rs. 10 lac,
current liabilities at Rs. 5 lac and long term debt Rs. 2 lac and
debit balance of profit and loss account at Rs. 1 lac. The tangible
net worth isa) Rs. 2 lacb) Rs. 4 lacc) Rs. 3 lacd) Rs. 5 lac
14. The term QUASI EQUITY refers toa) Unsecured loans from
friends and relatives which are pegged to our advanceb) Unpaid
share capitalc) Capital reserved) All the above
15. In a milk society, the livelihood cows are classified asa) A
fixed assetsb) A current assetsc) Both the aboved) None of
these
16. When the reserves of a company are capitalized, the result
is :a) a public issueb) a private placementc) rights issue of
sharesd) bonus issue of shares
17. Calculate the tangible net worth from the following balance
Sheet Capital Rs. 50, 000 , Fixed asset Rs. 60, 000 Term Loan Rs.
10, 000, Current Asset Rs. 30, 000, Current Liabilities Rs.40,000 ,
Goodwill Rs. 10, 000a) Rs.50, 000/-b) Rs.10, 000/-c) Rs.40, 000/-d)
Date insufficient
18. A company has net worth Rs. 5 lac, Term Liability Rs. 10
lacs. Fixed assets Rs. 16 lacs and Current assets Rs. 25 lacs.
There is no intangible Assets or other Non current assets.
Calculate its Net Working Capitala) Rs. 10 lacb) Rs. 1 lacc) Rs. 9
lacd) Rs. (-) 1 lac
19. Current ratio is 2:5 Current Liability is Rs. 30, 000. The
Net working capital isa) Rs. 12, 000b) Rs. 18, 000c) Rs. (-) 45,
000d) Rs. (-) 18, 000
20. In last year the Current Ratio was 3:1 and Quick Ratio was
2:1. Presently Current ratio is 3:1 but quick Ratio is 1:1. This
indicates comparablya) high liquidityb) higher stockc) lower
stockd) high turnover
Score =
Correct Answers:
Bottom of Form
1. a 2. C 3. C 4. A 5. D 6. B 7. A 8. C 9. D 10. B 11. A 12. B
13. A 14. A 15. A 16. D 17. C 18. D 19. D 20. B
Time Start Now :0:52JAIIB Quiz - Legal & Regulatory Aspects
of BankingSelect the correct answer and click Get Results button
provided below. The answers will be displayed in the text box
provided there.
All The Best !!!.Top of Form1. The charge by way of lien over
goods belonging to a company must be registered with Registrar of
Companies within a period of ______.a) 30 days of creation of lawb)
This charge need not be registered as this is not hypothecation,
mortgage etcc) 30 days of default in repaymentc) A or C whichever
is earlier
2. DRT has jurisdiction relating to cases pertaining to Banks,
Financial Institutions with debt amount of.a) Rs. 1 lakh and
aboveb) Rs. 5 lakh and abovec) Rs. 10 lakh and aboved) Rs. 15 lakh
and above
3. The formation of a company is governed by the rules and
regulations as contained in ?a) Indian Companies Actb) RBI actc) BR
Actd) None of the above
4. For determining the advance amount the shares will be valued
on the basis of.a) Current market priceb) Average market price for
the last 12 monthsc) Face Valued) A or B whichever is lower.
5. An Annuity is an ordinary Annuity if,a) Payments are required
to be made at the beginning of each period.b) Payments are required
to be made at the middle of each periodc) Payments are required to
be made at ordinary instalmentsd) Payments are required to be made
at the end of each period.
6. Banking Ombudsman is appointed bya) Central Government /
Ministry of Financeb) State Governmentc) IDBId) RBI
7. A Customer Service Meet should be organized at every Branch
.a) Once in a Fortnightb) Once in a Quarterc) Once in a Monthd)
Once in a Half Yearly
8. Who cannot file a complaint under Consumer Protection Act?a)
Banksb) State Governmentc) Public Interest Litigation Groupd)
Persons receiving services free of charge
9. In how many days the opposite party can give the version of
the case?a) 5 daysb) 10 daysc) 30 daysd) no limit
10. The banking ombudsman receives maximum number of complaints
in respect of;a) foreign bankb) public sector bankc) regional rural
bankd) co- operative bank
Score =
Correct Answers:
Bottom of Form
1. b 2. C 3. A 4. D 5. D 6. D 7. D 8. D 9. C 10. b
