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Your results are here!! for" JAIIB Paper 2 Module A Quiz 10 "
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Question 1 of 20
1. Question
In the context of imps, which option is the most accurate?
Correct
Correct answer: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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 imps. Which practice is compliant?
Correct
Correct answer: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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 imps?
Correct
Correct answer: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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 imps. Which principle should guide the bank?
Correct
Correct answer: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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 imps is correct?
Correct
Correct answer: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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: Near-real-time interbank transfer available around the clock. IMPS is an instant electronic transfer service, with applicable limits and channel rules. 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 upi. Which response is appropriate?
Correct
Correct answer: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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 upi. Which answer should be selected?
Correct
Correct answer: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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 upi. Which action is correct?
Correct
Correct answer: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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 upi. What should it do?
Correct
Correct answer: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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 upi?
Correct
Correct answer: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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: Verify the payee and never share the UPI PIN. A UPI PIN authorises payment; it is not required merely to receive money. 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 ecs/nach, which option is the most accurate?
Correct
Correct answer: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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 ecs/nach. Which practice is compliant?
Correct
Correct answer: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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 ecs/nach?
Correct
Correct answer: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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 ecs/nach. Which principle should guide the bank?
Correct
Correct answer: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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 ecs/nach is correct?
Correct
Correct answer: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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: Bulk repetitive credit and debit transactions. NACH is designed for recurring and bulk payments/collections. 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 banker‘s cheque / pay order. Which response is appropriate?
Correct
Correct answer: A bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 banker‘s cheque / pay order. Which answer should be selected?
Correct
Correct answer: A bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 banker‘s cheque / pay order. Which action is correct?
Correct
Correct answer: A bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 banker‘s cheque / pay order. What should it do?
Correct
Correct answer: A bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 banker‘s cheque / pay order?
Correct
Correct answer: A bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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 bank-issued payment instrument. The bank issues the instrument and undertakes payment according to its 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.