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Question 1 of 20
1. Question
In the context of deposit insurance, which option is the most accurate?
Correct
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 2 of 20
2. Question
During an audit, a reviewer checks the branch‘s handling of deposit insurance. Which practice is compliant?
Correct
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 3 of 20
3. Question
Which of the following is the soundest operational approach to deposit insurance?
Correct
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 4 of 20
4. Question
A transaction raises a question concerning deposit insurance. Which principle should guide the bank?
Correct
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 5 of 20
5. Question
Which statement about deposit insurance is correct?
Correct
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: ₹5 lakh including principal and interest, per depositor per bank in the same right and capacity. Eligible deposits across branches of the same bank are aggregated in the same right and capacity. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 6 of 20
6. Question
A customer visits a branch with a request relating to savings deposit. Which response is appropriate?
Correct
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 7 of 20
7. Question
A JAIIB candidate is asked about savings deposit. Which answer should be selected?
Correct
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 8 of 20
8. Question
A new officer must apply the rules for savings deposit. Which action is correct?
Correct
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 9 of 20
9. Question
A bank must handle a case involving savings deposit. What should it do?
Correct
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 10 of 20
10. Question
Which option best describes the rule an officer should apply to savings deposit?
Correct
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: Savings and routine transactions under product terms. Savings accounts are deposit products designed for savings and permitted transactions. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 11 of 20
11. Question
In the context of current account, which option is the most accurate?
Correct
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 12 of 20
12. Question
During an audit, a reviewer checks the branch‘s handling of current account. Which practice is compliant?
Correct
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 13 of 20
13. Question
Which of the following is the soundest operational approach to current account?
Correct
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 14 of 20
14. Question
A transaction raises a question concerning current account. Which principle should guide the bank?
Correct
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 15 of 20
15. Question
Which statement about current account is correct?
Correct
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: Frequent business transactions. Current accounts support frequent payments and receipts; terms should be checked for the specific product. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 16 of 20
16. Question
A customer visits a branch with a request relating to fixed/term deposit. Which response is appropriate?
Correct
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 17 of 20
17. Question
A JAIIB candidate is asked about fixed/term deposit. Which answer should be selected?
Correct
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 18 of 20
18. Question
A new officer must apply the rules for fixed/term deposit. Which action is correct?
Correct
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 19 of 20
19. Question
A bank must handle a case involving fixed/term deposit. What should it do?
Correct
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
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Question 20 of 20
20. Question
Which option best describes the rule an officer should apply to fixed/term deposit?
Correct
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Incorrect
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.
Unattempted
Correct answer: A deposit for a specified tenure. Term deposits have a defined tenure and maturity terms. The other options are incorrect because they conflict with this rule or omit required verification, legal authority, customer protection, or operational controls. In practice, the officer should also check the applicable current RBI directions, relevant legislation and the bank‘s latest approved procedure.