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JAIIB-AFB-RECOLLECTED QUESTIONS FROM JAN 2017-2


Friends, due to shortage of time, let me update the re-collected questions from Today's Exam posted by our group members. Let me update this page with the exact question and answer as and when I get time. Till then you all can go through the book/internet and update yourselves. Wish you all the very best for your exam.

..................................................................................................

Total no of digit in the Aadhar Card ...... 12

.................................

Minor above____ years can open n operate SB account independently - 10 years

.................................

Deprecation is more by which method during the first and second year?

.................................

Bank reconciliation statement is prepared by....? Customer

.................................

Wages paid for installation of machinery is what kind of expenditure? Capital

.................................

1 Rs = 64.68 $ is direct or indirect quote? - Indirect Quote

.................................

Max allowed credit in a year in small savings a/c is ...... Rs. 1 Lakh

Maximum balance in the small savings a/c should not exceed ...... at any time. Rs. 50000

.................................

Limited company uses ......

a. double entry system
b. single entry system
c. hybrid
d. any

Ans - a

.................................

Bills receivables are ......

a. Nominal
b. Real
c. Personal
d. Representative personal

Ans - d

.................................

Medium risk customer document verified after every ...... years

a. 2
b. 3
c. 8
d. 10

Ans - c

.................................

If a company issues bonus shares at 2:1, the debt equity ratio will :

a. Remain unaffected
b. Will go up in the same ratio of issue of bonus to the original holding
c. Will improve in the same ratio of issue of bonus to the original holding
d. Will be lowered

Ans - a

.................................

Which one of the following is incorrect relating to Employees Stop Option Scheme?

a. Guidelines are issued by SEBI
b. Employees have to apply for shares at a pre-determined price
c. ESOS is a right but no obligation to the employees
d. The right can be exercised at anytime by the employees

Ans - d

.................................

What will be the rectification entry for balance of sales account overcast by Rs. 50000?

a. Cash A/c Rs. 50000 Dr/To Sales A/c Rs. 50000
b. Sales A/c Rs. 50000 Dr/To Suspence A/c Rs. 50000
c. Sales A/c Rs. 50000 Dr/To Cash A/c Rs. 50000
d. Purchase A/c Rs. 50000 Dr/To Sales A/c Rs. 50000

Ans - c

.................................

Interest rate elasticity of a bond is ......

a. Always a negative number
b. Always a positive number
c. Positive or negative number depending on the market condition
d. Positive or negative number depending on the market value

Ans - b

.................................

Which of the following is peculiar to a partnership firm?

a. It has perpetucal existence
b. It has large number of owners
c. All owners have unlimited liability
d. Govt control is very strict

Ans - c

.................................

Current Ratio = 2:1
Quick Ratio = 1.5:1
Current Liabilities = 1,60,000
Amount of value of inventory?

a. 50,000
b. 80,000
c. 70,000
d. 90,000

Ans - b

.................................

A bond, whose par value is Rs. 5000, bears a coupon rate of 10.75 % payable semi-annually and has a maturity period of 4 years. The required rate of return on bond is 8 %. What is the value of this bond?

a. 5267
b. 5480
c. 5259
d. 5462

Ans - d

Solution
Semi-annual interest payable = 5,000 x 10.75 per cent/2 = 268.75
Principal repayment at the end of 4 years = Rs. 5,000
The value of the bond
= 268.75 (PVIFA 8%/2, 8 pds) + Rs. 5,000 (PVIF 8%/2, 8 pds)
= 268.75 (6.7327) + 5,000 (0.7307)
= 1809.41 + 3653.50
= 5462.91

.................................

A bill of Rs. 94769 is drawn by 'A' on 'B' for 3 months on 01.01.2016. A gets the bill discounted from the bank on 17.02.2016. How much rebate amount will be deducted if rate of interest is 11.5% pa?

a. 2750
b. 1300
c. 1350
d. 1400

Ans - b

.................................

Cash inflow - Rs. 55000
Useful life of the project - 5 years
IRR - 15%
Cost of capital - 11%
What is NPV of the project?

a. 19640
b. 20415
c. 18670
d. 17526

Ans - c

.................................

Which of the following is not correct?

a. Salary expenses are carried over to P&L account
b. Capital expenses are carried over to balance sheet
c. Personal account balances are carried over to balance sheet
d. Nominal account balances are carried over to balance sheet

Ans - b

.................................

AS 10 for banking company... Fixed asset

.................................

Trustee can deligate his power to other or not? No

.................................

On transfer of account from one branch to another branch of same bank what is required?

a. Fresh id proof
b. Address proof
c. Fresh identity and address proof
d. Self declaration

Ans - d
.................................

Which of the following is revenue expenditure?

a. expenditure for used machinery part for sale
b. purchase of motor car
c. purchase of building
d. cash paid for audit fee

Ans - d
.................................

Computer which are used in banks have ......

a. digital
b. analogue
c. binary
d. none of the above

Ans - d
.................................

What will be the effect if sales return of 50000 posted 48200 and purchase return of 46000 posted 47800?

a. No effect
b. P&L increase by 3600
c. P&L decrease by 3600
d. P&L increase or decrease by 1800

Ans - b
.................................

Bond is inversely proportional to ......

a. redemption rate
b. coupon rate
c. none of the above
d. both 1 & 2

Ans - d
.................................

A pass book is showing overdaft of Rs 9750. A cheque of Rs 750 presented. What will be the effect?

a. overdraft will increse by 750
b. overdraft will decrease by 750
c. cash book will be increased or decrease by 750
d. payment of chq will be denied or none of the above

Ans - a
.................................


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