JAIIB Paper 2 Module C Quiz 2

Correct answer: Option 1. BOD activities prepare the CBS environment for the new business day according to the bank‘s configured procedures. Topic area: CBS Operations — Begin of Day (BOD).

Correct answer: Option 2. EOD may include batch processing, interest/accrual processing, reports, reconciliations and closing controls as configured by the bank. Topic area: CBS Operations — End of Day (EOD).

Correct answer: Option 1. Parameters and master data can affect products, limits, charges and transaction processing. Changes require authorisation, testing and audit trails. Topic area: CBS Operations — CBS parameter/master file.

Correct answer: Option 1. Maker-checker separation reduces the risk of error and abuse. It is especially important for sensitive transactions and master-data changes. Topic area: CBS Operations — Maker-checker control.

Correct answer: Option 3. Logical access controls include user authentication, authorisation and permission management. They should follow least privilege and be reviewed periodically. Topic area: CBS Operations — Logical access control.

Correct answer: Option 4. Privileged accounts can make high-impact changes and therefore need strong authentication, restricted use, monitoring and periodic review. Topic area: CBS Operations — Privileged user account.

Correct answer: Option 4. Audit trails support accountability, investigation and audit. Logs should be protected against unauthorised alteration and retained as required. Topic area: CBS Operations — Audit trail in CBS.

Correct answer: Option 3. Least privilege reduces the potential damage from mistakes or compromised accounts by limiting permissions to business need. Topic area: CBS Operations — Least privilege.

Correct answer: Option 4. Segregation of duties reduces the opportunity for a single person to commit and conceal an error or fraud. Topic area: CBS Operations — Segregation of duties.

Correct answer: Option 1. A successfully posted CBS transaction updates the appropriate customer and accounting records. Banks must also handle failures and reversals under controlled procedures. Topic area: CBS Operations — CBS transaction posting.

Correct answer: Option 2. Suspense accounts help isolate unresolved entries, but items should be investigated, reconciled and cleared promptly rather than left unexplained. Topic area: CBS Operations — Suspense account.

Correct answer: Option 1. Exception reports direct attention to unusual items such as limit breaches, failed batches or unreconciled transactions and require appropriate follow-up. Topic area: CBS Operations — Exception report.

Correct answer: Option 1. Reconciliation identifies missing, duplicate, delayed or mismatched entries between systems. Differences should be investigated and resolved with an audit trail. Topic area: CBS Operations — Reconciliation in electronic banking.

Correct answer: Option 1. Password controls should prevent sharing and insecure storage, support strong authentication and use approved reset procedures. Passwords should never be disclosed to others. Topic area: CBS Operations — Password control.

Correct answer: Option 3. Session timeouts reduce the risk that an unattended logged-in session will be misused. Timeout settings should be appropriate to the risk and workflow. Topic area: CBS Operations — Session timeout.

Correct answer: Option 4. Formal change management reduces outages and unauthorised modifications through approvals, testing, documentation, controlled deployment and rollback plans. Topic area: CBS Operations — Change management.

Correct answer: Option 3. Batch processing is often used for end-of-day jobs, bulk payments and reports. Banks need monitoring and recovery procedures for failed or incomplete batches. Topic area: CBS Operations — Batch processing.

Correct answer: Option 1. Real-time processing reduces waiting for scheduled batches, but the exact settlement finality and customer-visible status depend on the payment system. Topic area: CBS Operations — Real-time processing.

Correct answer: Option 3. Validation can detect invalid formats, missing fields or inconsistent values before processing. It is not a substitute for authorisation or fraud monitoring. Topic area: CBS Operations — Data validation.

Correct answer: Option 3. Third-party access should be time-bound, least-privilege, approved, monitored and revoked when no longer needed. Banks remain responsible for managing associated risks. Topic area: CBS Operations — CBS vendor access.