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Your results are here!! for" JAIIB Paper 2 Module A Quiz 7 "
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Question 1 of 20
1. Question
In the context of bearer cheque, which option is the most accurate?
Correct
Correct answer: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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 bearer cheque. Which practice is compliant?
Correct
Correct answer: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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 bearer cheque?
Correct
Correct answer: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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 bearer cheque. Which principle should guide the bank?
Correct
Correct answer: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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 bearer cheque is correct?
Correct
Correct answer: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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: Delivery, subject to applicable law and controls. Bearer instruments are generally negotiated by delivery, but banks must apply due care and applicable controls. 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 order cheque. Which response is appropriate?
Correct
Correct answer: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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 order cheque. Which answer should be selected?
Correct
Correct answer: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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 order cheque. Which action is correct?
Correct
Correct answer: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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 order cheque. What should it do?
Correct
Correct answer: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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 order cheque?
Correct
Correct answer: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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: Endorsement and delivery. Order instruments ordinarily require endorsement and delivery for negotiation. 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 crossed cheque, which option is the most accurate?
Correct
Correct answer: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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 crossed cheque. Which practice is compliant?
Correct
Correct answer: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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 crossed cheque?
Correct
Correct answer: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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 crossed cheque. Which principle should guide the bank?
Correct
Correct answer: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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 crossed cheque is correct?
Correct
Correct answer: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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: Payment through a banker. Crossing is a payment-safety instruction, not cancellation. 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 account payee crossing. Which response is appropriate?
Correct
Correct answer: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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 account payee crossing. Which answer should be selected?
Correct
Correct answer: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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 account payee crossing. Which action is correct?
Correct
Correct answer: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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 account payee crossing. What should it do?
Correct
Correct answer: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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 account payee crossing?
Correct
Correct answer: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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: Collect it for the named payee‘s account under applicable banking practice. Account-payee marking restricts collection in banking practice to the named payee‘s account. 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.