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Your results are here!! for" JAIIB Paper 2 Module A Quiz 9 "
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Question 1 of 20
1. Question
In the context of cheque return memo, which option is the most accurate?
Correct
Correct answer: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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 cheque return memo. Which practice is compliant?
Correct
Correct answer: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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 cheque return memo?
Correct
Correct answer: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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 cheque return memo. Which principle should guide the bank?
Correct
Correct answer: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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 cheque return memo is correct?
Correct
Correct answer: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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: Give the prescribed reason for return. A return memo records the reason for dishonour and supports the next steps available to the customer. 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 cts. Which response is appropriate?
Correct
Correct answer: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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 cts. Which answer should be selected?
Correct
Correct answer: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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 cts. Which action is correct?
Correct
Correct answer: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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 cts. What should it do?
Correct
Correct answer: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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 cts?
Correct
Correct answer: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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: Use cheque images and electronic data for clearing. CTS reduces physical movement and uses image-based clearing. 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 neft, which option is the most accurate?
Correct
Correct answer: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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 neft. Which practice is compliant?
Correct
Correct answer: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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 neft?
Correct
Correct answer: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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 neft. Which principle should guide the bank?
Correct
Correct answer: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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 neft is correct?
Correct
Correct answer: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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: RBI-operated electronic funds transfer processed in batches and available 24×7. NEFT operates around the clock and settles transfers in batches. 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 rtgs. Which response is appropriate?
Correct
Correct answer: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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 rtgs. Which answer should be selected?
Correct
Correct answer: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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 rtgs. Which action is correct?
Correct
Correct answer: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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 rtgs. What should it do?
Correct
Correct answer: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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 rtgs?
Correct
Correct answer: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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: Individual real-time settlement, with a minimum of ₹2 lakh. RTGS is designed for large-value transfers with real-time gross settlement. 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.