JAIIB CAIIB

JAIIB CAIIB MOCK TEST

1 Global Bank is having a current account of M/s Ruchi Enterprises and a cheque of Rs.13500 is
presented through clearing, drawn in favour of Mr. Ramesh. Through an oversight the cheque is
dishonoured wrongfully. When information about this dishonour is received by Mr. Ramesh, he
sends a notice to the Global Bank for wrongful dishonour and claims damages. What would you
do with this notice?
a Bank should contact Mr. Ramesh for withdrawls of the notice for damages.
b Banks should contact the drawer and ask them to prevail upon the payee for withdrawal of the
notice. c Bank can ignore this notice as the bank is not liable for such damages to the payee.
d Bank is liable to the drawer of the cheque and no one else.
e c and d above


2 Corporate Bank had opened a saving bank account in the name of Mr. Subramanian and
Murlidhar operated as `former or survivor’. The wife of Mr. Subramanian, who is nominee in the
account comes to your branch and informs you that Mr. Subramanian has expired a month back.
She also hands over the death certificate and requests for payment of the balance.
a the payment to the nominee will be made on proper identification as she is also having the
death certificate.
b the payment will be made to the wife of deceased being legal heir of the former.
c the payment will not be made as with the death of the former, nomination has been cancelled.
d the payment will not be made as with the death of the former, survivor gets the authority to
operate the account and nominee comes in to picture only when none of the account holders is
available e any of the above 3 Bank Universal Limited receives a letter of credit of $ 20000 in favour of M/s Diamond Exports
Pvt Ltd for exports to Germany. After verification of the genuineness of the credit, it is forwarded
to the beneficiary through registered letter. Unfortunately, due to postal strike, by the time the
letter of credit is delivered, its validity period expires. The exporter threatens legal action against
the bank:
a bank is liable as bank has not handed over the credit in time to the beneficiary
b postal department is liable for the loss and exporter has to take up the matter with the postal
department c bank is not liable as it does not assume any liability for the consequences arising out of delay in
transit due to actions beyond its control
d bank could persuade the opening bank to extend the validity date so that it is not put to loss
e any of the above


4. Your branch has received a garnishee order in the name of your customer having saving bank account, with following transactions. Which among these is not subject matter of the garnishee order: a an advice ready for despatch to another branch after debit to the account in payment of cheque
b an advice received for a cheque which was sent in collection, from another branch but not
credited to the account so far
c a cheque sent in clearing, the amount of which has been credited to the account
d an amount of Rs.4000 relating to his wife’s account credited by mistake to the account of thecustomer
e all the above

Jobs In Government Banks

5 Your branch opens a fixed deposit of Rs.50000 in the joint name of Mr. Anil Kumar and Mr.
Suhail Kumar payable to either or survivor. They also nominate Miss Konica a minor daughter of
Mr. Suhail Kumar with the provision that the payment can be claimed by Mrs. Suhail Kumar on
behalf of the minor. Unfortunately, Mr. Suhail Kumar expired and subsequently Mr. Anil Kumar
decides to change the nomination from Miss Konica to his own son. To this, Mrs. Suhail Kumar
objects and asks your branch not to accept the instruction of Mr. Anil Kumar:
a bank has no option to ignore the request from Mr. Anil Kumar as, being survivor all rights
relating to deposit are vested with him.
b bank can request Mr. Anil Kumar to decide the case in consultation with the existing nominee
c bank has to accept the request from Mrs. Suhail Kumar, as she was the nominee coupled with
interest d bank will ask them to go to a court of law for decision and would implement the decision of the court e b and c above 6 Sh. Amrit Lal opens a term deposit account with Bank of Bengal and nominates his niece Ms
Aruna Pande. Unfortunately, he expires in an accident but Ms Aruna Pande does not turn up
despite a notice from the bank. Meantime, the legal heirs of Mr. Amrit Lal i.e. his two sons, visit
the bank and request for making payment of the deposit. They also present a probate from court
of law in which they are executors of the will of the deceased:
a the payment of the balance in the account will be made by the bank to Ms Aruna Pande only
b the payment of the balance would be made to the legal heirs in terms of probate
c the payment will be made in equal proportion to the legal heirs and the nominee
d the bank will advise the legal heirs to bring specific order from the court in the light of
nomination e none of the above 7 The liability of a minor co‑parcener in an HUF, for the acts of a Karta is:
a unlimited
b nil
c to the extent of his share in the family property
d 50% of the loss as per his share
e none of the above
8 Mr. D Singh and Mr. K Singh are maintaining a current account in `former and survivor’
operations. Mr. K Singh (illiterate) issues a notice to the bank that the operations in the account
should be stopped as there is some dispute between both of them. He also mentions that money
in the account belongs to him but for operational convenience, the power to operate the account
was given in favour of D Singh. What would you do with the cheque (signed by Mr. D Singh for
Rs.670 favouring LIC of India) which has been presented through clearing, for payment from this
account? a the cheque is of small amount and shall be paid.
b the cheque is in favour of LIC of India and shall be paid
c cheque will be returned due to receipt of information about dispute
d cheque will be paid as K Singh’s instruction cannot be accepted so long as Mr. D Singh is alive
e Any of the above
9 An attachment order is received from Income Tax Officer for attaching funds lying in saving bank account of a person. In case, the bank fails to execute this order u/s 226 (3) of Income Tax Act: a: Branch Manager can be arrested.
b: Branch Manager can be fined upto Rs. 5000 and sentenced upto one year
c: The banker shall be treated as a assessee in default
d Amount can be recovered from the bank, with penalty.
e: c and d.