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Your results are here!! for" JAIIB Paper 2 Module A Quiz 6 "
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Question 1 of 20
1. Question
In the context of recurring deposit, which option is the most accurate?
Correct
Correct answer: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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 recurring deposit. Which practice is compliant?
Correct
Correct answer: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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 recurring deposit?
Correct
Correct answer: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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 recurring deposit. Which principle should guide the bank?
Correct
Correct answer: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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 recurring deposit is correct?
Correct
Correct answer: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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: Regular instalments over a chosen period. Recurring deposits build savings through periodic instalments. 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 premature term deposit. Which response is appropriate?
Correct
Correct answer: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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 premature term deposit. Which answer should be selected?
Correct
Correct answer: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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 premature term deposit. Which action is correct?
Correct
Correct answer: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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 premature term deposit. What should it do?
Correct
Correct answer: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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 premature term deposit?
Correct
Correct answer: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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: Apply the disclosed terms and applicable regulatory directions. The bank must follow the applicable premature-withdrawal terms and regulations. 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 tds on deposit interest, which option is the most accurate?
Correct
Correct answer: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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 tds on deposit interest. Which practice is compliant?
Correct
Correct answer: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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 tds on deposit interest?
Correct
Correct answer: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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 tds on deposit interest. Which principle should guide the bank?
Correct
Correct answer: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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 tds on deposit interest is correct?
Correct
Correct answer: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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: Apply current income-tax provisions and valid declarations. TDS thresholds and provisions can change, so the applicable financial-year rules must be checked. 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 cheque definition. Which response is appropriate?
Correct
Correct answer: A bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 cheque definition. Which answer should be selected?
Correct
Correct answer: A bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 cheque definition. Which action is correct?
Correct
Correct answer: A bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 cheque definition. What should it do?
Correct
Correct answer: A bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 cheque definition?
Correct
Correct answer: A bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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 bill of exchange drawn on a specified banker and payable on demand. The Negotiable Instruments Act defines a cheque by reference to a banker and payment on demand. 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.