JAIIB Previous Year Question Paper: Principles and Practices of Banking(October 2023) | Mock Test Series for JAIIB Exam 2026 - Bank Exams PDF Download

 Page 1


 
   
1 
Q1. Which of the following statements is correct about Warehouse receipts? 
 I. Advances may be made against the security of Warehouse Receipts issued by Central and State Government 
Warehouses. 
 II. No advance is made against the Warehouse Receipt for stocks of foodgrains marked as Grades I, II, and III. 
 III. Warehouse Receipts endorsed to the borrowers should be avoided. 
 IV. A Warehouse Receipt shall only be 'Negotiable'. 
 V. Advances against Warehouse Receipts covering storage of goods subject to Selective Credit Control should 
be made in accordance with extant directives of RBI. 
 (A) I, II, III 
 (B) I, II, III, IV, V 
 (C) I, III, V 
 (D) I, III, IV, V 
 
Q2. SIEM is a platform for detecting, analysing and responding to security threats of the next generation. What does 
SIEM stand for? 
 (A) Systematic Incident Evaluation Module 
 (B) Security Information and Event Management 
 (C) Security Information and Evaluation Module 
 (D) Surveillance and Incident Event Management 
 
Q3. Which of the following are the features of a cash recycler? 
 I. It can only accept cash from customers. 
 II. It allows cardless transactions up to Rs. 20,000/- per day. 
 III. Cash deposit is made with a debit card. 
 (A) I, II, III 
 (B) II, and III 
 (C) I, and III 
 (D) Only I 
 
Q4. To whom is the Currency Declaration Form submitted? 
 (A) Reserve Bank of India 
 (B) Securities and Exchange Board of India 
 (C) Customs Authorities 
 (D) Embassy or Consulate 
 
Q5. Which of the following media has a better data transfer rate? 
 (A) Twisted pair 
 (B) Shielded Twisted Pair 
 (C) Coaxial cable 
 (D) Unshielded Twisted Pair 
 
Q6. Which of the following is the most important advantage of Land and Building as a security? 
 (A) Its value generally increases with time 
 (B) The release of such securities involves very little expense and formality. 
 (C) They have a ready market and can be easily sold. 
 (D) Valuation can be easily done. 
 
Page 2


 
   
1 
Q1. Which of the following statements is correct about Warehouse receipts? 
 I. Advances may be made against the security of Warehouse Receipts issued by Central and State Government 
Warehouses. 
 II. No advance is made against the Warehouse Receipt for stocks of foodgrains marked as Grades I, II, and III. 
 III. Warehouse Receipts endorsed to the borrowers should be avoided. 
 IV. A Warehouse Receipt shall only be 'Negotiable'. 
 V. Advances against Warehouse Receipts covering storage of goods subject to Selective Credit Control should 
be made in accordance with extant directives of RBI. 
 (A) I, II, III 
 (B) I, II, III, IV, V 
 (C) I, III, V 
 (D) I, III, IV, V 
 
Q2. SIEM is a platform for detecting, analysing and responding to security threats of the next generation. What does 
SIEM stand for? 
 (A) Systematic Incident Evaluation Module 
 (B) Security Information and Event Management 
 (C) Security Information and Evaluation Module 
 (D) Surveillance and Incident Event Management 
 
Q3. Which of the following are the features of a cash recycler? 
 I. It can only accept cash from customers. 
 II. It allows cardless transactions up to Rs. 20,000/- per day. 
 III. Cash deposit is made with a debit card. 
 (A) I, II, III 
 (B) II, and III 
 (C) I, and III 
 (D) Only I 
 
Q4. To whom is the Currency Declaration Form submitted? 
 (A) Reserve Bank of India 
 (B) Securities and Exchange Board of India 
 (C) Customs Authorities 
 (D) Embassy or Consulate 
 
Q5. Which of the following media has a better data transfer rate? 
 (A) Twisted pair 
 (B) Shielded Twisted Pair 
 (C) Coaxial cable 
 (D) Unshielded Twisted Pair 
 
Q6. Which of the following is the most important advantage of Land and Building as a security? 
 (A) Its value generally increases with time 
 (B) The release of such securities involves very little expense and formality. 
 (C) They have a ready market and can be easily sold. 
 (D) Valuation can be easily done. 
 
 
   
2 
Q7. The users of the e-voucher can redeem the evoucher by using: 
 (A) Digital Payment Apps 
 (B) Internet Banking 
 (C) Cards 
 (D) None of the above 
 
Q8. What advantages does a seller gain from using a Letter of Credit? 
 (A) Advance payment is to be made to the seller. 
 (B) On shipment of the goods, the seller can draw bills and negotiate them with a bank in their country, getting 
immediate payment. 
 (C) The buyer cannot induce the seller to give credit. 
 (D) All of the above 
 
Q9. Which transmission medium is immune to electromagnetic interference? 
 (A) Optical Fibre 
 (B) Twister Pair cables 
 (C) Coaxial cables 
 (D) UTP Cables 
 
Q10. is the prosecuting authority for money laundering crime. 
 (A) RBI 
 (B) SEBI 
 (C) FIU 
 (D) ED 
 
Q11. Which of the following is not a mandatory feature for cheques under CTS 2010 standards? 
 (A) Pre-filled account field 
 (B) Security thread 
 (C) Field placement 
 (D) Watermark 
 
Q12. Services provided by ATM include: 
1. Utility Bill Payment. 
2. Cheque Book Request. 
3. Insurance Premium Payment. 
4. Term deposit opening. 
5. User details updation. 
6. Aadhaar Updation. 
(A) 1,2,3,4, and 5 
(B) 2,3,4,6, and 7 
 (C) 1,4,5,6, and 7 
 (D) 1,2,3,4,5,6, and 7 
 
Q13. Which of the following categories of information are exempted from disclosure under the Right to Information Act? 
 I. Cabinet papers. 
 II. Information relating to commercial confidence. 
 III. Disclosure would cause a breach of privilege of the State Legislature. 
Page 3


 
   
1 
Q1. Which of the following statements is correct about Warehouse receipts? 
 I. Advances may be made against the security of Warehouse Receipts issued by Central and State Government 
Warehouses. 
 II. No advance is made against the Warehouse Receipt for stocks of foodgrains marked as Grades I, II, and III. 
 III. Warehouse Receipts endorsed to the borrowers should be avoided. 
 IV. A Warehouse Receipt shall only be 'Negotiable'. 
 V. Advances against Warehouse Receipts covering storage of goods subject to Selective Credit Control should 
be made in accordance with extant directives of RBI. 
 (A) I, II, III 
 (B) I, II, III, IV, V 
 (C) I, III, V 
 (D) I, III, IV, V 
 
Q2. SIEM is a platform for detecting, analysing and responding to security threats of the next generation. What does 
SIEM stand for? 
 (A) Systematic Incident Evaluation Module 
 (B) Security Information and Event Management 
 (C) Security Information and Evaluation Module 
 (D) Surveillance and Incident Event Management 
 
Q3. Which of the following are the features of a cash recycler? 
 I. It can only accept cash from customers. 
 II. It allows cardless transactions up to Rs. 20,000/- per day. 
 III. Cash deposit is made with a debit card. 
 (A) I, II, III 
 (B) II, and III 
 (C) I, and III 
 (D) Only I 
 
Q4. To whom is the Currency Declaration Form submitted? 
 (A) Reserve Bank of India 
 (B) Securities and Exchange Board of India 
 (C) Customs Authorities 
 (D) Embassy or Consulate 
 
Q5. Which of the following media has a better data transfer rate? 
 (A) Twisted pair 
 (B) Shielded Twisted Pair 
 (C) Coaxial cable 
 (D) Unshielded Twisted Pair 
 
Q6. Which of the following is the most important advantage of Land and Building as a security? 
 (A) Its value generally increases with time 
 (B) The release of such securities involves very little expense and formality. 
 (C) They have a ready market and can be easily sold. 
 (D) Valuation can be easily done. 
 
 
   
2 
Q7. The users of the e-voucher can redeem the evoucher by using: 
 (A) Digital Payment Apps 
 (B) Internet Banking 
 (C) Cards 
 (D) None of the above 
 
Q8. What advantages does a seller gain from using a Letter of Credit? 
 (A) Advance payment is to be made to the seller. 
 (B) On shipment of the goods, the seller can draw bills and negotiate them with a bank in their country, getting 
immediate payment. 
 (C) The buyer cannot induce the seller to give credit. 
 (D) All of the above 
 
Q9. Which transmission medium is immune to electromagnetic interference? 
 (A) Optical Fibre 
 (B) Twister Pair cables 
 (C) Coaxial cables 
 (D) UTP Cables 
 
Q10. is the prosecuting authority for money laundering crime. 
 (A) RBI 
 (B) SEBI 
 (C) FIU 
 (D) ED 
 
Q11. Which of the following is not a mandatory feature for cheques under CTS 2010 standards? 
 (A) Pre-filled account field 
 (B) Security thread 
 (C) Field placement 
 (D) Watermark 
 
Q12. Services provided by ATM include: 
1. Utility Bill Payment. 
2. Cheque Book Request. 
3. Insurance Premium Payment. 
4. Term deposit opening. 
5. User details updation. 
6. Aadhaar Updation. 
(A) 1,2,3,4, and 5 
(B) 2,3,4,6, and 7 
 (C) 1,4,5,6, and 7 
 (D) 1,2,3,4,5,6, and 7 
 
Q13. Which of the following categories of information are exempted from disclosure under the Right to Information Act? 
 I. Cabinet papers. 
 II. Information relating to commercial confidence. 
 III. Disclosure would cause a breach of privilege of the State Legislature. 
 
   
3 
 (A) I, II, III 
 (B) I, III 
 (C) II, III 
 (D) I, II 
 
Q14. Foreign currency accounts with a bank outside India can be opened for: 
 (A) Making remittances 
 (B) Investing in stocks 
 (C) Receiving funds 
 (D) Speculative Trading 
 
Q15. Who is considered a "holder in due course"? 
 (A) Anyone who possesses a bill 
 (B) The original issuer of the bill 
 (C) A person who acquires the bill for consideration 
 (D) The person directed to pay the bill 
 
Q16. Alexa, Siri, and Cortana are examples of: 
 (A) Virtual Assistant 
 (B) Artificial intelligence 
 (C) Augmented reality 
 (D) Virtual reality 
 
Q17. Private Bank with net worth of _ _ _ _ _ _ can issue credit cards. 
 (A) Rs. 50 crore and above 
 (B) Rs. 100 crore and above 
 (C) Rs. 150 crore and above 
 (D) Rs. 200 crore and above 
 
Q18. Banks can undertake _ _ _ _ _ _ only if they are registered with SEBI as Category I Merchant Bankers. 
 (A) Issue of debt for their corporate customers 
 (B) Commercial lending activities for their corporate customers 
 (C) Foreign exchange trading for their corporate customers 
 (D) Wealth management activities for their corporate customers 
 
Q19. Which of the following statements about Account Aggregator is not true? 
 I. An Account Aggregator is a type of RBI-regulated entity with an NBFC-AA license. 
 II. An Account Aggregator can share the data without the consent of the individual. 
 III. An Account Aggregator is a type of Central Government-regulated entity with an NBFC-AA license. 
 IV. Data cannot be shared by an Account Aggregator without the consent of the individual. 
 V. Account Aggregator retrieves or collects information related to the financial assets of a customer from the 
Financial Information Providers. 
 VI. Data can be stored by the Account aggregator but shall be shared only with the regulated financial entities. 
 (A) II, and III 
 (B) I, IV, and V 
 (C) II, II, V, and VI 
 (D) II, III, and VI 
Page 4


 
   
1 
Q1. Which of the following statements is correct about Warehouse receipts? 
 I. Advances may be made against the security of Warehouse Receipts issued by Central and State Government 
Warehouses. 
 II. No advance is made against the Warehouse Receipt for stocks of foodgrains marked as Grades I, II, and III. 
 III. Warehouse Receipts endorsed to the borrowers should be avoided. 
 IV. A Warehouse Receipt shall only be 'Negotiable'. 
 V. Advances against Warehouse Receipts covering storage of goods subject to Selective Credit Control should 
be made in accordance with extant directives of RBI. 
 (A) I, II, III 
 (B) I, II, III, IV, V 
 (C) I, III, V 
 (D) I, III, IV, V 
 
Q2. SIEM is a platform for detecting, analysing and responding to security threats of the next generation. What does 
SIEM stand for? 
 (A) Systematic Incident Evaluation Module 
 (B) Security Information and Event Management 
 (C) Security Information and Evaluation Module 
 (D) Surveillance and Incident Event Management 
 
Q3. Which of the following are the features of a cash recycler? 
 I. It can only accept cash from customers. 
 II. It allows cardless transactions up to Rs. 20,000/- per day. 
 III. Cash deposit is made with a debit card. 
 (A) I, II, III 
 (B) II, and III 
 (C) I, and III 
 (D) Only I 
 
Q4. To whom is the Currency Declaration Form submitted? 
 (A) Reserve Bank of India 
 (B) Securities and Exchange Board of India 
 (C) Customs Authorities 
 (D) Embassy or Consulate 
 
Q5. Which of the following media has a better data transfer rate? 
 (A) Twisted pair 
 (B) Shielded Twisted Pair 
 (C) Coaxial cable 
 (D) Unshielded Twisted Pair 
 
Q6. Which of the following is the most important advantage of Land and Building as a security? 
 (A) Its value generally increases with time 
 (B) The release of such securities involves very little expense and formality. 
 (C) They have a ready market and can be easily sold. 
 (D) Valuation can be easily done. 
 
 
   
2 
Q7. The users of the e-voucher can redeem the evoucher by using: 
 (A) Digital Payment Apps 
 (B) Internet Banking 
 (C) Cards 
 (D) None of the above 
 
Q8. What advantages does a seller gain from using a Letter of Credit? 
 (A) Advance payment is to be made to the seller. 
 (B) On shipment of the goods, the seller can draw bills and negotiate them with a bank in their country, getting 
immediate payment. 
 (C) The buyer cannot induce the seller to give credit. 
 (D) All of the above 
 
Q9. Which transmission medium is immune to electromagnetic interference? 
 (A) Optical Fibre 
 (B) Twister Pair cables 
 (C) Coaxial cables 
 (D) UTP Cables 
 
Q10. is the prosecuting authority for money laundering crime. 
 (A) RBI 
 (B) SEBI 
 (C) FIU 
 (D) ED 
 
Q11. Which of the following is not a mandatory feature for cheques under CTS 2010 standards? 
 (A) Pre-filled account field 
 (B) Security thread 
 (C) Field placement 
 (D) Watermark 
 
Q12. Services provided by ATM include: 
1. Utility Bill Payment. 
2. Cheque Book Request. 
3. Insurance Premium Payment. 
4. Term deposit opening. 
5. User details updation. 
6. Aadhaar Updation. 
(A) 1,2,3,4, and 5 
(B) 2,3,4,6, and 7 
 (C) 1,4,5,6, and 7 
 (D) 1,2,3,4,5,6, and 7 
 
Q13. Which of the following categories of information are exempted from disclosure under the Right to Information Act? 
 I. Cabinet papers. 
 II. Information relating to commercial confidence. 
 III. Disclosure would cause a breach of privilege of the State Legislature. 
 
   
3 
 (A) I, II, III 
 (B) I, III 
 (C) II, III 
 (D) I, II 
 
Q14. Foreign currency accounts with a bank outside India can be opened for: 
 (A) Making remittances 
 (B) Investing in stocks 
 (C) Receiving funds 
 (D) Speculative Trading 
 
Q15. Who is considered a "holder in due course"? 
 (A) Anyone who possesses a bill 
 (B) The original issuer of the bill 
 (C) A person who acquires the bill for consideration 
 (D) The person directed to pay the bill 
 
Q16. Alexa, Siri, and Cortana are examples of: 
 (A) Virtual Assistant 
 (B) Artificial intelligence 
 (C) Augmented reality 
 (D) Virtual reality 
 
Q17. Private Bank with net worth of _ _ _ _ _ _ can issue credit cards. 
 (A) Rs. 50 crore and above 
 (B) Rs. 100 crore and above 
 (C) Rs. 150 crore and above 
 (D) Rs. 200 crore and above 
 
Q18. Banks can undertake _ _ _ _ _ _ only if they are registered with SEBI as Category I Merchant Bankers. 
 (A) Issue of debt for their corporate customers 
 (B) Commercial lending activities for their corporate customers 
 (C) Foreign exchange trading for their corporate customers 
 (D) Wealth management activities for their corporate customers 
 
Q19. Which of the following statements about Account Aggregator is not true? 
 I. An Account Aggregator is a type of RBI-regulated entity with an NBFC-AA license. 
 II. An Account Aggregator can share the data without the consent of the individual. 
 III. An Account Aggregator is a type of Central Government-regulated entity with an NBFC-AA license. 
 IV. Data cannot be shared by an Account Aggregator without the consent of the individual. 
 V. Account Aggregator retrieves or collects information related to the financial assets of a customer from the 
Financial Information Providers. 
 VI. Data can be stored by the Account aggregator but shall be shared only with the regulated financial entities. 
 (A) II, and III 
 (B) I, IV, and V 
 (C) II, II, V, and VI 
 (D) II, III, and VI 
 
   
4 
Q20. What is the norm for banks to extend financial assistance to Factoring Companies? 
 I. The financial assistance extended by the Factoring Companies is secured by hypothecation or assignment of 
receivables in their favour. 
 II. At least 75% of income is from factoring activity. 
 III. Receivables purchased/ financed, on a 'with recourse' or 'without recourse' basis, form at least 50% of the 
assets. 
 (A) I, and II 
 (B) II and III 
 (C) I and III 
 (D) I, II, and III 
 
Q21. On what grounds can an the appeal be filed against an order approving a resolution plan? 
 (A) The insolvency resolution process costs have been placed in priority over all other debts. 
 (B) Material irregularity in the exercise of powers by the RP during the CIRP. 
 (C) When the debts are not acknowledged by the operational creditors. 
 (D) All of the above 
 
Q22. A product seller does not include _ _ _ _ _ _ . 
 (A) A service provider 
 (B) A person who acts only in a financial capacity with respect to the sale of the product. 
 (C) E-commerce platforms 
 (D) A person who is a retailer 
 
Q23. If a person owes several debts, any payment where neither party has made any appropriation will be applied towards: 
 (A) In order of time, whether or not barred by the limitation of suits 
 (B) Proportionately towards all debts 
 (C) Towards the largest debt first 
 (D) Towards the smallest debt first 
 
Q24. In respect of accounting disclosure, banks have to comply with various Accounting Standards notified under _ _ _ 
_ _ _. 
 (A) Companies (Accounting Standards) Rules, 2021 
 (B) Banking (Accounting Standards) Rules, 2020 
 (C) Banking Business (Accounting Standards) Rules, 2021 
 (D) Banking Companies (Accounting Standards) Rules, 2019 
 
Q25. Cash-out at any ATM of more than _ _ _ _ _ _ hours in a month attracts a flat penalty of _ _ _ _ _ _ per ATM. 
 (A) 5;5000 
 (B) 10; 10000 
 (C) 10;5000 
 (D) 5; 10000 
 
Q26. Which advances are considered under the Weaker Sections category for Priority Sector Loans? 
 I. Self Help Groups. 
 II. Individual women beneficiaries up to Rs. 1 lakh per borrower. 
 III. Individual women beneficiaries up to Rs. 2 lakh per borrower. 
 IV. Artisans, village and cottage industries where individual credit limits do not exceed Rs. 2.4 lakh 
Page 5


 
   
1 
Q1. Which of the following statements is correct about Warehouse receipts? 
 I. Advances may be made against the security of Warehouse Receipts issued by Central and State Government 
Warehouses. 
 II. No advance is made against the Warehouse Receipt for stocks of foodgrains marked as Grades I, II, and III. 
 III. Warehouse Receipts endorsed to the borrowers should be avoided. 
 IV. A Warehouse Receipt shall only be 'Negotiable'. 
 V. Advances against Warehouse Receipts covering storage of goods subject to Selective Credit Control should 
be made in accordance with extant directives of RBI. 
 (A) I, II, III 
 (B) I, II, III, IV, V 
 (C) I, III, V 
 (D) I, III, IV, V 
 
Q2. SIEM is a platform for detecting, analysing and responding to security threats of the next generation. What does 
SIEM stand for? 
 (A) Systematic Incident Evaluation Module 
 (B) Security Information and Event Management 
 (C) Security Information and Evaluation Module 
 (D) Surveillance and Incident Event Management 
 
Q3. Which of the following are the features of a cash recycler? 
 I. It can only accept cash from customers. 
 II. It allows cardless transactions up to Rs. 20,000/- per day. 
 III. Cash deposit is made with a debit card. 
 (A) I, II, III 
 (B) II, and III 
 (C) I, and III 
 (D) Only I 
 
Q4. To whom is the Currency Declaration Form submitted? 
 (A) Reserve Bank of India 
 (B) Securities and Exchange Board of India 
 (C) Customs Authorities 
 (D) Embassy or Consulate 
 
Q5. Which of the following media has a better data transfer rate? 
 (A) Twisted pair 
 (B) Shielded Twisted Pair 
 (C) Coaxial cable 
 (D) Unshielded Twisted Pair 
 
Q6. Which of the following is the most important advantage of Land and Building as a security? 
 (A) Its value generally increases with time 
 (B) The release of such securities involves very little expense and formality. 
 (C) They have a ready market and can be easily sold. 
 (D) Valuation can be easily done. 
 
 
   
2 
Q7. The users of the e-voucher can redeem the evoucher by using: 
 (A) Digital Payment Apps 
 (B) Internet Banking 
 (C) Cards 
 (D) None of the above 
 
Q8. What advantages does a seller gain from using a Letter of Credit? 
 (A) Advance payment is to be made to the seller. 
 (B) On shipment of the goods, the seller can draw bills and negotiate them with a bank in their country, getting 
immediate payment. 
 (C) The buyer cannot induce the seller to give credit. 
 (D) All of the above 
 
Q9. Which transmission medium is immune to electromagnetic interference? 
 (A) Optical Fibre 
 (B) Twister Pair cables 
 (C) Coaxial cables 
 (D) UTP Cables 
 
Q10. is the prosecuting authority for money laundering crime. 
 (A) RBI 
 (B) SEBI 
 (C) FIU 
 (D) ED 
 
Q11. Which of the following is not a mandatory feature for cheques under CTS 2010 standards? 
 (A) Pre-filled account field 
 (B) Security thread 
 (C) Field placement 
 (D) Watermark 
 
Q12. Services provided by ATM include: 
1. Utility Bill Payment. 
2. Cheque Book Request. 
3. Insurance Premium Payment. 
4. Term deposit opening. 
5. User details updation. 
6. Aadhaar Updation. 
(A) 1,2,3,4, and 5 
(B) 2,3,4,6, and 7 
 (C) 1,4,5,6, and 7 
 (D) 1,2,3,4,5,6, and 7 
 
Q13. Which of the following categories of information are exempted from disclosure under the Right to Information Act? 
 I. Cabinet papers. 
 II. Information relating to commercial confidence. 
 III. Disclosure would cause a breach of privilege of the State Legislature. 
 
   
3 
 (A) I, II, III 
 (B) I, III 
 (C) II, III 
 (D) I, II 
 
Q14. Foreign currency accounts with a bank outside India can be opened for: 
 (A) Making remittances 
 (B) Investing in stocks 
 (C) Receiving funds 
 (D) Speculative Trading 
 
Q15. Who is considered a "holder in due course"? 
 (A) Anyone who possesses a bill 
 (B) The original issuer of the bill 
 (C) A person who acquires the bill for consideration 
 (D) The person directed to pay the bill 
 
Q16. Alexa, Siri, and Cortana are examples of: 
 (A) Virtual Assistant 
 (B) Artificial intelligence 
 (C) Augmented reality 
 (D) Virtual reality 
 
Q17. Private Bank with net worth of _ _ _ _ _ _ can issue credit cards. 
 (A) Rs. 50 crore and above 
 (B) Rs. 100 crore and above 
 (C) Rs. 150 crore and above 
 (D) Rs. 200 crore and above 
 
Q18. Banks can undertake _ _ _ _ _ _ only if they are registered with SEBI as Category I Merchant Bankers. 
 (A) Issue of debt for their corporate customers 
 (B) Commercial lending activities for their corporate customers 
 (C) Foreign exchange trading for their corporate customers 
 (D) Wealth management activities for their corporate customers 
 
Q19. Which of the following statements about Account Aggregator is not true? 
 I. An Account Aggregator is a type of RBI-regulated entity with an NBFC-AA license. 
 II. An Account Aggregator can share the data without the consent of the individual. 
 III. An Account Aggregator is a type of Central Government-regulated entity with an NBFC-AA license. 
 IV. Data cannot be shared by an Account Aggregator without the consent of the individual. 
 V. Account Aggregator retrieves or collects information related to the financial assets of a customer from the 
Financial Information Providers. 
 VI. Data can be stored by the Account aggregator but shall be shared only with the regulated financial entities. 
 (A) II, and III 
 (B) I, IV, and V 
 (C) II, II, V, and VI 
 (D) II, III, and VI 
 
   
4 
Q20. What is the norm for banks to extend financial assistance to Factoring Companies? 
 I. The financial assistance extended by the Factoring Companies is secured by hypothecation or assignment of 
receivables in their favour. 
 II. At least 75% of income is from factoring activity. 
 III. Receivables purchased/ financed, on a 'with recourse' or 'without recourse' basis, form at least 50% of the 
assets. 
 (A) I, and II 
 (B) II and III 
 (C) I and III 
 (D) I, II, and III 
 
Q21. On what grounds can an the appeal be filed against an order approving a resolution plan? 
 (A) The insolvency resolution process costs have been placed in priority over all other debts. 
 (B) Material irregularity in the exercise of powers by the RP during the CIRP. 
 (C) When the debts are not acknowledged by the operational creditors. 
 (D) All of the above 
 
Q22. A product seller does not include _ _ _ _ _ _ . 
 (A) A service provider 
 (B) A person who acts only in a financial capacity with respect to the sale of the product. 
 (C) E-commerce platforms 
 (D) A person who is a retailer 
 
Q23. If a person owes several debts, any payment where neither party has made any appropriation will be applied towards: 
 (A) In order of time, whether or not barred by the limitation of suits 
 (B) Proportionately towards all debts 
 (C) Towards the largest debt first 
 (D) Towards the smallest debt first 
 
Q24. In respect of accounting disclosure, banks have to comply with various Accounting Standards notified under _ _ _ 
_ _ _. 
 (A) Companies (Accounting Standards) Rules, 2021 
 (B) Banking (Accounting Standards) Rules, 2020 
 (C) Banking Business (Accounting Standards) Rules, 2021 
 (D) Banking Companies (Accounting Standards) Rules, 2019 
 
Q25. Cash-out at any ATM of more than _ _ _ _ _ _ hours in a month attracts a flat penalty of _ _ _ _ _ _ per ATM. 
 (A) 5;5000 
 (B) 10; 10000 
 (C) 10;5000 
 (D) 5; 10000 
 
Q26. Which advances are considered under the Weaker Sections category for Priority Sector Loans? 
 I. Self Help Groups. 
 II. Individual women beneficiaries up to Rs. 1 lakh per borrower. 
 III. Individual women beneficiaries up to Rs. 2 lakh per borrower. 
 IV. Artisans, village and cottage industries where individual credit limits do not exceed Rs. 2.4 lakh 
 
   
5 
 V. Distressed farmers indebted to noninstitutional lenders. 
 VI. Beneficiaries under Government Sponsored Schemes. 
 VII. Beneficiaries of Differential Rate of Interest (DRI) scheme. 
 (A) I, II, V, VI, VII 
 (B) I, III, IV, V, VI, VII 
 (C) I, III, IV, VI, VII 
 (D) I, II, IV, VI, VII 
 
Q27. Which of the following is not a central bank digital currency? 
 I. Ripple 
 II. e-Rupee 
 III. Litecoin 
 (A) I, and II 
 (B) I, and III 
 (C) II and III 
 (D) I, II, and III 
 
Q28. Section 31 of the Negotiable Instruments Act requires a bank to pay the cheque if: 
 (A) The cheque is presented within six months from the date of its issue. 
 (B) The amount mentioned in words and figures differs, but the difference is not material. 
 (C) The drawer has sufficient balance, and funds are properly applicable. 
 (D) The drawer has sufficient balance in fixed deposits. 
 
Q29. Which of the following is not a norm for SHGs to be eligible for loans? 
 I. Active existence for at least 6 months as per its books of account. 
 II. Existing defunct SHGs if revived if active for at least 6 months. 
 III. Qualified as per grading norms fixed by RBI. 
 (A) I, and II 
 (B) I and III 
 (C) II and III 
 (D) I, II, and III 
 
Q30. Which of the following transactions are not permitted to be conducted by Authorised Dealer - Category II? 
 I. Release of foreign exchange for participation fees in global conferences and specialized training. 
 II. Release of foreign exchange for Payment related to "Call Back Services" of telephones. 
 III. Release of foreign exchange for private visits. 
 IV. Release of foreign exchange for Remittance of dividend by any company to which the requirement of dividend 
balancing is applicable.  
 V. Release of foreign exchange for remittance of interest income on funds held in NonResident Special Rupee 
(Account) Scheme. 
 VI. Release of foreign exchange for Visa Fees. 
 (A) I, II, V, VI 
 (B) II, IV, V 
 (C) I, II, III, IV 
 (D) II, III, and V