Thursday, 26 January 2017

Banking Questions Test (MCQ)- 13


                                     Banking Questions Test- 13

Q1. Any RTGS remittance by way cash shall be accepted from the customer up to Rs…..
a.    2 crore
b.    2 lakh
c.    10 lakh
d.    50000

Banking Questions Test (MCQ)- 12

 Banking Questions Test- 12

Q1. As per RBI guidelines bank have to ear mark the following day as the customer day
a.    15th of every month
b.    Last day of every month
c.    1st day of every month
d.    Last Friday of month

Wednesday, 25 January 2017

Banking Questions Test (MCQ)- 11


Q1. A locker hirer who is visually challenged wants to take a person with him to operate the locker. What bank should do?
  1. Bank will not permit as he is a stranger
  2. Yes will permit  if authorized by the account holder in writing
  3. Yes will permit in that case the locker will be operated in presence of the manager or an officer of the bank
  4. Yes if he is a kith or kin

Banking Questions Test (MCQ)- 10

                                      Banking Questions Test- 10

Q1. Accounts under senior citizen savings scheme be opened jointly with
  1. Only with son
  2. Only with daughter
  3. Only with spouse
  4. None of these

Tuesday, 24 January 2017

Participants in the Financial Market

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       Commercial Banks- A bank that offers services to the general public and companies, accepting deposit from public for the purpose of lending and investments.

Banking Questions Test-9 (MCQ)

                                      Banking Questions Test- 9

Q1. What is the minimum and maximum amount that can be deposited in the PPF account in a financial year?
  1. Rs 500 and Rs 60000
  2. Rs 1000 and Rs 70000
  3. Rs 500 and Rs 150000
  4. Rs 500 and Rs 100000

Q2.The lump sum amount received towards maturity proceeds of the PPF account is taxed at the rate of
  1. 10%
  2. 30%
  3. 11.25%
  4. No tax is levied

Q3. The period for which a PPF account can be opened is
a.    10 years
b.    15 years
c.    12 years
d.    From 5 to 25 years

Q4. Who can permit the premature closure of a PPF account?
  1. RBI
  2. Chairman of Bank concerned
  3. Ministry of Finance, Department of Economic Affairs
  4. Pension regulatory authority

Q5. The depositor of a PPF account has been missing for the last 10 years. How can the account be settled.
  1. As per sec 107 &108 of the Indian evidence act
  2. As per normal claim procedure
  3. As per Indian succession act
  4. Hindu law in case of Hindus

Q6. A depositor deposits his cheque/DD to the credit of his PPF account/Senior citizen account, or any postal deposit account. Which of the following will be considered as date of deposit?
  1. Date on which cheque is deposited
  2. Date on which cheque is realized
  3. Date on which cheque is sent for collection
  4. Date on which account is credited with the proceeds

Q7. What is tenure of Senior citizens saving scheme (SCSS)?
  1. 5 years, can be extendable by more 5 years
  2. 5 years, can be extendable by more 3 years
  3. 5 years, can be extendable by more 2 years
  4. 5 years, can be extendable by more 1 years

Q8. What is maximum amount of deposit in Senior citizens saving scheme
  1. Rs 5 lakh
  2. Rs 10 lakh
  3. Rs 15 lakh
  4. No limit

Q9. What is the minimum amount in Senior citizens saving scheme
  1. Rs 10
  2. Rs 100
  3. Rs 1000
  4. Rs 500

Q10. Under SCSS no tax deduction at source need to be made if the interest payment does not exceed Rs ……..

  1. 5000
  2. 10000
  3. 20000
  4. 7500
Answer-
1
2
3
4
5
6
7
8
9
10
c
d
B
c
a
b
b
c
c
A

Banking Questions Test-8 (MCQ)

                         Banking Questions Test- 8

Q1. The minimum period of deposit under this scheme is … financial year extendable by …… financial years at a time
  1. 5 and 5 years
  2. 5 and 10 years
  3. 10 and 5 years
  4. 15 and 5 years

Q2. The minimum deposit to be made in PPF account in a financial year is Rs 500  p.a and maximum deposit allowed in a financial year is ……..
  1. 50000
  2. 75000
  3. 100000
  4. 150000

Q3. What happens if the deposit in a FY exceeds Rs 1500000 in PPF account?
  1. The excess amount will not qualify as deposit to PPF and will be refunded without any interest
  2. The excess amount is not accepted by bank
  3. The excess amount is given interest for one time
  4. The excess amount will go to GOI

Q4.Which of the following can be permitted to open PPF account?
  1. HUF
  2. Individual in joint name
  3. Partnership firms
  4. None of above

Q5. The present rate of interest on the PPF deposit is …payable on the minimum balance between …. and ……. Of the month and will be credited at the end of the ……. Rounded off to nearest rupee
  1. Various from year to year, 5th and last day of month, year
  2. Same, 5th and last day of month, year
  3. Various from year to year, 1st and last day of month, year
  4. Same, 1st  and last day of month, year

Q6. In case of discontinuation of the account the account can be regularized on payment of fee of Rs 50 per the defaulted months and also minimum of Rs … for each year defaulted.
  1. 50
  2. 100
  3. 500
  4. No fine

Q7.  In what circumstances the account can be pre-closed?
a.    Only on death of depositor
b.    Any time
c.    Cannot be pre closed
d.    On transfer of account

Q8 When the account holder is allowed to withdraw during the currency of the deposit and what is the maximum amount?
  1. Allowed only after 5 years from the end of the year in which the account was opened, amount allowed to be withdrawn is 50% of the balance at the end of the immediately preceding 4th year from the year of withdrawal or at the end of the preceding 4th year from the year of withdrawal or at the end of the preceding year whichever is lower.
  2. Allowed only after 3 years from the end of the year in which the account was opened, amount allowed to be withdrawn is 50% of the balance at the end of the immediately preceding 4th year from the year of withdrawal or at the end of the preceding 4th year from the year of withdrawal or at the end of the preceding year whichever is lower.
  3.  Allowed only after 5 years from the end of the year in which the account was opened, amount allowed to be withdrawn is 90% of the balance at the end of the immediately preceding 4th year from the year of withdrawal or at the end of the preceding 4th year from the year of withdrawal or at the end of the preceding year whichever is lower.
  4. None of the above

Q9. If the PPF account is in joint names with a spouse, after the death of one of the account holder the account can be transferred in the name of ………
  1. Cannot be transferred
  2. Gets closed
  3. Spouse living
  4. PPF account in joint name not possible

Q10. The number of PPF account a person can open in the name of each of his minor child is

  1. Nil
  2. One
  3. Two
  4. Three
Answer-
1
2
3
4
5
6
7
8
9
10
d
d
a
D
a
c
a
a
a
C