MCQ on JAIIB
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JAIIB stands for Junior Associate of Indian Institute of Bankers which is a certificate exam specifically designed for Bankers and Finance professionals. IIBF (Indian Institute of Banking and Finance) is conducting this certificate examination bi-annually.

It is indented to give in-depth knowledge about banking operations and also its regulatory information. More particularly, It helps to enrich your knowledge in the fields like Risk management, Credit handling, Economics analysis, Customer relations, Accountancy, banking related legal aspects, etc.

In order to get JAIIB certification, you have to get minimum required marks in the following FOUR papers.

  1. Indian Economy & Indian Financial System.
  2. Principles & Practices of Banking.
  3. Accounting & Financial Management for Bankers.
  4. Retail Banking & Wealth Management.

Multiple Choice Questions (MCQ) on JAIIB

In this case, we have compiled some the important Multiple Choice Questions (MCQ) on the JAIIB papers. It will be useful for the candidates who specifically prepare for JAIIB certification.

Revenue expenditure are:

  • a) Day to day expenditure
  • b) Monthly
  • c) Yearly expenditure
  • d) Half yearly

Capital expenditure relate to:

  • a) Wages on construction
  • b) Repair of machinery
  • c) Payment of wages to Mr. X
  • d) Both a & b

Which of the following is a fixed Asset?

  • a) Goodwill
  • b) Land & building
  • c) Cash
  • d) Capital

• Drawings do not include:

  • a) Payment of rent for proprietor residence
  • b) Goods taken by proprietor
  • c) Amount withdrawn from bank
  • d) Amount withdrawn from bank for domestic use

Zero Coupon bonds are those ______________________________

  • a) Which do not make a periodical coupon payment
  • b) These bonds are bought for less than their face value (at a discount).
  • c) Mostly issued in Auctions by Treasuries.
  • d) All of the above

Cash sales = Rs. 35,000, Credit Sales = Rs. 40,000, Cost of Good Sold = Rs. 52,000 and Expenses on Sale = Rs. 6,700. Find value of Net Profit.

  • a) Rs. 15,500
  • b) Rs. 16,000
  • c) Rs. 15,000
  • d) Rs. 16300

Trade discount is given on ______________________

  • a) Purchasing of goods in bulk
  • b) Purchasing of goods in small quantity
  • c) On selling the goods
  • d) On returning the goods

Cost of Goods sold is equal to:

  • a) Opening stock + Purchase + Direct expenses – Closing stock
  • b) Closing stock – Purchase + Opening stock
  • c) Closing stock – Opening stock + Purchases

Multiple Choice Questions

Straight-line method charges depreciation:

  • a) Same amount
  • b) Amount is reduced every year
  • c) Same rate
  • d) Amount is increased every year

Clerical error includes:

  • a) Error of omission
  • b) Principal error
  • c) Error of commission
  • d) Both a & c

Fill in the blanks from the following: Bad debts are ____________________ for business:

  • a) Loss
  • b) Revenue
  • c) Expense
  • d) Expenditure

Which of following is not an Asset?

  • a) Fixed Asset
  • b) Current Asset
  • c) Capital
  • d) Discount on share

Cash Reserve Ratio is to be maintained by banks with reference to which of the following?

  • a) Time liabilities
  • b) Demand liabilities
  • c) Time and demand liabilities
  • d) Gross time & demand liabilities
  • e) Net demand and time liabilities

What is the minimum CRR as per the relevant Act?

  • a) 3%
  • b) 4%
  • c) 5%
  • d) No minimum

A Contract without _______________________ is void except under special circumstances:

  • a) Consent
  • b) Consideration
  • c) Capacity
  • d) Capability to perform

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