Podcast
Questions and Answers
Who is credited with coining the term 'Artificial Intelligence'?
Who is credited with coining the term 'Artificial Intelligence'?
- Charles Babbage
- David Bradley
- Alan Turing
- John McCarthy (correct)
Under the SARFAESI Act, 2002, what is the time period within which the possession notice must be published?
Under the SARFAESI Act, 2002, what is the time period within which the possession notice must be published?
- 15 Days
- 7 Days (correct)
- No time period mentioned
- 1 Month
What role did John McCarthy play in the field of Artificial Intelligence?
What role did John McCarthy play in the field of Artificial Intelligence?
- He invented the first AI robot.
- He developed the first AI programming language.
- He created the first neural network.
- He was a founding figure and coined the term. (correct)
Which of the following is NOT associated with the SARFAESI Act, 2002?
Which of the following is NOT associated with the SARFAESI Act, 2002?
In which module is the term 'Artificial Intelligence' discussed?
In which module is the term 'Artificial Intelligence' discussed?
What is the requirement for the newspapers in which the possession notice is published under the SARFAESI Act, 2002?
What is the requirement for the newspapers in which the possession notice is published under the SARFAESI Act, 2002?
What is the primary focus of Module B – Chapter 14?
What is the primary focus of Module B – Chapter 14?
Which of the following statements about John McCarthy is true?
Which of the following statements about John McCarthy is true?
What is the cash limit for Demand Draft transactions as per RBI guidelines?
What is the cash limit for Demand Draft transactions as per RBI guidelines?
Which bank issued the first credit card in India?
Which bank issued the first credit card in India?
In which stage of the Product Life Cycle do sales volumes typically begin to decline?
In which stage of the Product Life Cycle do sales volumes typically begin to decline?
What is the correct sequence of stages in the Product Life Cycle?
What is the correct sequence of stages in the Product Life Cycle?
What is the cash withdrawal limit for contactless cards?
What is the cash withdrawal limit for contactless cards?
Which stage of the Product Life Cycle involves the product breaking even and starting to generate profits?
Which stage of the Product Life Cycle involves the product breaking even and starting to generate profits?
During which stage of the Product Life Cycle does a product typically reach its widest customer base?
During which stage of the Product Life Cycle does a product typically reach its widest customer base?
What significant event occurred in 1980 related to credit cards in India?
What significant event occurred in 1980 related to credit cards in India?
What is the maximum Loan To Value (LTV) ratio for home loans up to Rs. 30 lakh?
What is the maximum Loan To Value (LTV) ratio for home loans up to Rs. 30 lakh?
Which year marks the target for the completion of the Pradhan Mantri Awaas Yojana for Rural housing?
Which year marks the target for the completion of the Pradhan Mantri Awaas Yojana for Rural housing?
Among the following, which element plays the least significant role in investment considerations?
Among the following, which element plays the least significant role in investment considerations?
What is a requirement for the possession notice after the taking of possession?
What is a requirement for the possession notice after the taking of possession?
For home loans above Rs. 75 lakh, what is the maximum allowable Loan To Value (LTV) ratio?
For home loans above Rs. 75 lakh, what is the maximum allowable Loan To Value (LTV) ratio?
What aspect of investments relates to an investor's ability to access cash from their investments quickly?
What aspect of investments relates to an investor's ability to access cash from their investments quickly?
Which of the following is a primary objective of any investment?
Which of the following is a primary objective of any investment?
What must accompany a possession notice when it is delivered to the mortgagor?
What must accompany a possession notice when it is delivered to the mortgagor?
What is the purpose of calculating the Profit Margin Ratio?
What is the purpose of calculating the Profit Margin Ratio?
Which of the following concepts is primarily associated with ensuring customer data security in banking?
Which of the following concepts is primarily associated with ensuring customer data security in banking?
What does the term 'Event based Insurance' refer to?
What does the term 'Event based Insurance' refer to?
Which of the following is a feature of the Atal Pension Yojana?
Which of the following is a feature of the Atal Pension Yojana?
What is the primary objective of Customer Relationship Management (CRM) in banking?
What is the primary objective of Customer Relationship Management (CRM) in banking?
Which option accurately describes the technology used by contactless cards?
Which option accurately describes the technology used by contactless cards?
What category do home loans and auto loans fall under in banking terms?
What category do home loans and auto loans fall under in banking terms?
What is the cash withdrawal limit on debit cards in Tier I and II centres?
What is the cash withdrawal limit on debit cards in Tier I and II centres?
What is the TDS rate on term deposits if the PAN card has been submitted?
What is the TDS rate on term deposits if the PAN card has been submitted?
What happens if a depositor does not submit a PAN card for TDS purposes?
What happens if a depositor does not submit a PAN card for TDS purposes?
What is the primary function of point-of-sale (PoS) terminals?
What is the primary function of point-of-sale (PoS) terminals?
In which scenario is TDS applicable for term deposits regardless of the PAN card submission?
In which scenario is TDS applicable for term deposits regardless of the PAN card submission?
Which form of financing does not involve direct cash disbursement to borrowers?
Which form of financing does not involve direct cash disbursement to borrowers?
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Study Notes
JAIIB May 2023 Exam Overview
- Memory-based questions from the JAIIB May 2023 exam are compiled to aid exam preparation.
- Questions are categorized into three sections for better understanding of important topics.
Section 1: Known Questions
- Questions include topics, types, options, and explanations.
- Correct answers are provided with references from the IIBF study material.
Section 2: Topic-Identified Questions
- Questions are identified by topic and type, though exact phrasing is unknown.
- Highlights significant topics and the expected depth of questions.
Section 3: Remaining Topics
- Lists topics of unanswered questions to indicate areas of focus for future exams.
Key Questions and Solutions
- Artificial Intelligence: Coined by John McCarthy (A).
- SARFAESI Act, 2002: Possession notice must be published in two newspapers within seven days (C).
- Pradhan Mantri Awaas Yojana (Rural): Target year for housing is 2024 (C).
- Loan to Value Ratio: Maximum 90% for home loans up to Rs. 30 lakh (A).
- Investment Roles: Hedging has the least role; focus should be on return, risk, and liquidity (A).
- Demand Draft Transaction Limit: Cash limit is Rs. 50,000 as per RBI guidelines (B).
- First Credit Card in India: Issued by Central Bank of India in 1980 (D).
- Product Life Cycle: Correct sequence is Introduction – Growth – Maturity – Decline (B).
- Contactless Card Withdrawals: Limit is Rs. 5,000 (D).
- Non-Fund Based Advance: Bank Guarantee is classified as such (C).
- TDS on Term Deposits: 10% if PAN card submitted (C).
- PoS Cash Withdrawal Limit: Rs. 1,000 in Tier 1 and II centres (B).
Additional Topics of Importance
- Artificial Intelligence and Blockchain Technology in banking.
- Knowledge of Customer Relationship Management is vital.
- Return on Equity (ROE) metrics applicable for banks.
- Familiarity with Form 15G/15H related to tax regulations.
- Key legislation and schemes like Sovereign Gold Bond and Atal Pension Yojana.
- Importance of KYC guidelines in banking services.
- Understanding of insurance products like Event-based Insurance and Suraksha Bima Yojana.
- Concepts of Portfolio Management Trade Off and Marketing Information Systems.
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