JAIIB PAPER 02: ACCOUNTING & FINANCE FOR BANKERS - Practice Mock Test 02
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GVSBANKCADEMY (www.gvsbankcademy.com)
{Note: THIS MOCK TEST IS FOR YOUR PRACTICE PURPOSE. DONT SIMPLY SUBMIT WITHOUT ATTEMPTING MOCK TEST JUST FOR ANSWERS. LEARN CONCEPT & PRACTICE}
1. Machinery value – Rs. 12,00,000, Salvage Value – Rs. 1,00,000, Useful Life in Years - 10 Years. Use sum of the years' digits method of depreciation to find the depreciation for 3rd year: *
1 point
2. Discount factor for 1 year for 10% rate.... *
1 point
3. Debt Equity ratio is 3:1, the amount of total assets Rs. 20 lac, current ratio is 1.5:1 and owned funds Rs. 3 lac. What is the amount of current asset: *
1 point
4. SLR securities  consisting : *
1 point
5. Which one of the following is wrong? *
1 point
6. Face value of bond: 100, issue price is:100, coupon 10%, redeemable after 5 years, discounting rate 15% , calculate  modified  duration of bond: *
1 point
7. Face value: Rs. 100; Market price: Rs. 90; Coupon:10%. What is current yield: *
1 point
8. 1 USD :Rs 75.40 is direct or indirect quote? – *
1 point
9. If a company issues bonus shares at 2:1, the debt equity ratio will : *
1 point
10. Current Ratio = 2:1; Quick Ratio = 1.5:1; Current Liabilities = Rs. 1,60,000. Amount of value of inventory? *
1 point
11. A pass book is showing overdraft of Rs. 9750.  A cheque of Rs. 750 presented. What will be the effect? *
1 point
12. Value of a machine 100000/- salvage value 10000/-  , depreciation method – straight line method,  life 5 years after 3 years it was sold to another co. for Rs 56000, what is the amount of profit: *
1 point
13. Regarding capital expenditure, which one of the following is not correct: *
1 point
14. Features of bill of exchange: *
1 point
15. In profit & Loss appropriation account, which of the following item does not reflect: *
1 point
16. Regarding banks- Profit & Loss account, which of the following schedule number is not correct: *
1 point
17. Provision on standard assets: *
1 point
18. Banks SLR & Non SLR investments classification types are: *
1 point
19. The company can pay  interest  on calls in advance as per the terms of its AOA (Articles of Association). However, a company cannot pay interest more  than ------------% per annum: *
1 point
20. Value dates for the following types of exchange rates: *
1 point
21. Conditions for issuance of Sweat Equity shares as per company act section 54: *
1 point
22. Which concept is not followed at the reporting stage: *
1 point
23. Current ratio is: 1.5:1, current liabilities are Rs 10 lakh total balance sheet being Rs 25 lakh. what is the amount of fixed assets *
1 point
24. A new company cannot issue shares: *
1 point
25. AS 20- RELATED TO: *
1 point
26. XYZ Ltd projected sales turnover Rs. 300 Lakh for the next year.  Available margin with the company Rs. 20 lakh. what is bank cash credit limit eligibility?
*
1 point
27. Disclosure about depreciation in the balance sheet( as per AS 6): *
1 point
28. A Ltd. forfeited 400 shares of Anil of Rs. 10 each fully called up for non-payment of final call of Rs. 2 per share and reissued to Sunil as fully paid for Rs. 10 per share. Amount transferred to Capital Reserve will be: *
1 point
29. The Book value of the assets as on 1st April, 2011 is Rs. 1, 00,000. Depreciation is charged on the assets @ 10%. On 1st October, 2011, the asset is sold for Rs. 64,000.  Loss on the sale will be *
1 point
30. Cost of Goods sold – Rs. 19,000. Closing Inventory – Rs. 6,000 . Sales – Rs. 30,000. Gross profit will be *
1 point
31. ______________ is/are the ‘document of title to goods’: *
1 point
32. The Securities premium account may be applied by the company. *
1 point
33. Current assets of a company are Rs. 2000 and other current liabilities are Rs. 200. Calculate working capital MPBF – Maximum Permissible Bank Finance limits under Tandon committee 2nd method of lending. *
1 point
34. Which method in a capital budgeting is based on the discounted cash flow? *
1 point
35. How is the P/E ratio calculated? *
1 point
36. The LMN Corporation is considering an investment that will cost Rs. 80,000 and have a useful life of 4 years. During the first 2 years, the net incremental after-tax cash flows are Rs. 25,000 per year and for the last two years they are Rs. 20,000 per year. What is the payback period for this investment? *
1 point
37. The _______ is defined as the present value of all cash proceeds to the investor in the stock. *
1 point
38. A company's issued share capital throughout an accounting period consists of 20000 ordinary shares of Rs. 10  and. Profit after tax for the period is Rs. 320,000 and the preference dividend is Rs. 10,000. Basic EPS for the period is: *
1 point
39. On 1 .4.2019 , a company's issued share capital consisted of 120,000 ordinary shares of Rs. 10. On 1st July 2019, the company issued another 30,000 ordinary shares and on 1st October 2019 the company issued a further 50,000 shares. Both issues were made at full market price. The weighted average number of shares outstanding during the year to 31st March  2020 was: *
1 point
40. BANKS BALANCE SHEET SCHEDULE NUMBERS WHICH  ONE IS NOT CORRECT: *
1 point
41.  Which one is not the accounting concept at the recording stage: *
1 point
42. Asset is a : *
1 point
43. Population of city - Current year 24 Lakhs. Increasing 7% yearly. What will be the population after 6 years: *
1 point
44. Trademark... Under which account: *
1 point
45. Face value 5000, coupon 12%,  market price 4500, what is current yield: *
1 point
46. Periodic updation of KYC: *
1 point
47. When the exchange of currencies takes place on the second working day, after the date of the deal is called ____: *
1 point
48. Cost of Goods Sold is equal to: *
1 point
49. Which one of the following is not a method of calculating depreciation? *
1 point
50. IFRS Stands for *
1 point
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