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Objective Questions

Latest MP Apex Bank Officer Financial Analyst Exam Question (Objective Questions), MCQ in English

Subjects : Professional Knowledge, Reasoning, English Language, General Awareness, Quantitative Aptitude

Question Bank MP Apex Bank Officer Financial Analyst Exam (Senior Management Grade 2) - English
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Professional Knowledge

Question 1Single Answer
As per Banking Regulation Act 1949, the Balance Sheet of a banking company is prepared in?
  1. A
    Form A (Vertical form)
  2. B
    Horizontal form
  3. C
    T-form
  4. D
    Cash flow form
Question 2Single Answer
The Profit & Loss Account of a banking company is prepared in?
  1. A
    Form B (Vertical form)
  2. B
    Form A
  3. C
    Schedule III format
  4. D
    Cash basis format
Question 3Single Answer
The Banking Regulation Act 1949 was enacted to regulate?
  1. A
    Banking companies and cooperative banks carrying banking business
  2. B
    Only commercial banks
  3. C
    Only NBFCs
  4. D
    Only RRBs
Question 4Single Answer
Which schedule of Banking Regulation Act prescribes the format of Balance Sheet?
  1. A
    Third Schedule
  2. B
    First Schedule
  3. C
    Second Schedule
  4. D
    Fourth Schedule
Question 5Single Answer
In banking financial statements, advances are shown under which head?
  1. A
    Schedule 9
  2. B
    Schedule 7
  3. C
    Schedule 11
  4. D
    Schedule 13
Question 6Single Answer
Investments in banking Balance Sheet are classified into how many categories?
  1. A
    6 (HTM, AFS, HFT etc.)
  2. B
    3
  3. C
    4
  4. D
    5
Question 7Single Answer
Cooperative banks in India are reuired to follow which accounting framework?
  1. A
    AS issued by ICAI till Ind AS is notified for them
  2. B
    Ind AS compulsorily
  3. C
    IFRS directly
  4. D
    US GAAP
Question 8Single Answer
As per RBI guidelines, cooperative banks are currently following?
  1. A
    Accounting Standards (AS) issued by ICAI
  2. B
    Full Ind AS
  3. C
    IFRS
  4. D
    No accounting standards
Question 9Single Answer
Which Ind AS is most relevant for classification and measurement of financial instruments in banks?
  1. A
    Ind AS 109
  2. B
    Ind AS 101
  3. C
    Ind AS 32
  4. D
    Ind AS 107
Question 10Single Answer
Interest Suspense Account in banking is created for?
  1. A
    Interest due but not recovered (NPA interest)
  2. B
    Accrued interest on investments
  3. C
    Interest paid in advance
  4. D
    Interest received in advance
Question 11Single Answer
As per prudential norms, interest on NPA is recognized on?
  1. A
    Cash basis only
  2. B
    Accrual basis
  3. C
    Both accrual and cash
  4. D
    No recognition
Question 12Single Answer
When an advance becomes NPA, the interest accrued and not recovered is?
  1. A
    Reversed from income and transferred to Interest Suspense
  2. B
    Kept in income
  3. C
    Capitalized
  4. D
    Written off immediately
Question 13Single Answer
Inter-branch transactions pending reconciliation are shown under?
  1. A
    Inter-branch adjustment accounts
  2. B
    Sundry debtors
  3. C
    Sundry creditors
  4. D
    Provision account
Question 14Single Answer
Un-reconciled debit entries in inter-branch accounts are shown on?
  1. A
    Asset side (under other assets)
  2. B
    Liability side
  3. C
    Off-balance sheet
  4. D
    Not shown
Question 15Single Answer
Un-reconciled credit entries in inter-branch accounts are shown on?
  1. A
    Liability side (under other liabilities)
  2. B
    Asset side
  3. C
    Off-balance sheet
  4. D
    Not shown
Question 16Single Answer
Statutory Reserve in banking is created under?
  1. A
    Section 17 of Banking Regulation Act, 1949
  2. B
    Section 15
  3. C
    Section 21
  4. D
    Section 35
Question 17Single Answer
Minimum percentage of profit to be transferred to Statutory Reserve before dividend is?
  1. A
    25% of net profit (or such higher percentage as RBI may specify)
  2. B
    10%
  3. C
    20%
  4. D
    30%
Question 18Single Answer
Statutory Reserve is shown under which head in Balance Sheet?
  1. A
    Reserves and Surplus (Schedule 2)
  2. B
    Deposits
  3. C
    Borrowings
  4. D
    Other liabilities
Question 19Single Answer
In cooperative banks, Statutory Reserve is created as per?
  1. A
    Section 66 of Multi-State Cooperative Societies Act / State Cooperative Societies Act
  2. B
    Banking Regulation Act only
  3. C
    Companies Act
  4. D
    Income Tax Act
Question 20Single Answer
In cooperative banks, minimum transfer to Statutory Reserve is usually?
  1. A
    25% of net profit
  2. B
    10% of net profit
  3. C
    15% of net profit
  4. D
    No minimum
Question 21Single Answer
Interest Suspense Account is shown in Balance Sheet under?
  1. A
    Other liabilities & provisions
  2. B
    Advances
  3. C
    Investments
  4. D
    Reserves
Question 22Single Answer
When interest from NPA is recovered, it is first credited to?
  1. A
    Interest Suspense Account
  2. B
    Profit & Loss Account
  3. C
    General Reserve
  4. D
    Statutory Reserve
Question 23Single Answer
After full recovery of interest from Suspense Account, further recovery is credited to?
  1. A
    Profit & Loss Account (as income)
  2. B
    Suspense Account again
  3. C
    Reserve Fund
  4. D
    No credit
Question 24Single Answer
Inter-branch reconciliation is reuired to be completed within?
  1. A
    Reasonable time (RBI guideline – preferably within 6 months)
  2. B
    1 year
  3. C
    2 years
  4. D
    No time limit
Question 25Single Answer
Long outstanding unreconciled entries in inter-branch accounts reuire?
  1. A
    Provision / write-off after investigation
  2. B
    No action
  3. C
    Capitalization
  4. D
    Transfer to advances
Question 26Single Answer
Statutory Reserve is a?
  1. A
    Revenue Reserve
  2. B
    Capital Reserve
  3. C
    General Reserve
  4. D
    Revaluation Reserve
Question 27Single Answer
Statutory Reserve can be utilized only for?
  1. A
    Meeting losses or as per RBI approval
  2. B
    Paying dividend
  3. C
    Bonus to staff
  4. D
    Any purpose
Question 28Single Answer
In cooperative banks, after transfer to Statutory Reserve, remaining profit can be transferred to?
  1. A
    Dividend, Common Good Fund, Education Fund etc)
  2. B
    Only dividend
  3. C
    Only reserves
  4. D
    No transfer
Question 29Single Answer
Which accounting standard deals with Revenue Recognition in banks?
  1. A
    AS 9
  2. B
    AS 1
  3. C
    AS 2
  4. D
    AS 10
Question 30Single Answer
As per AS 9, interest income on advances is recognized on?
  1. A
    Accrual basis except for NPA
  2. B
    Cash basis only
  3. C
    Both accrual & cash
  4. D
    No recognition
Question 31Single Answer
In cooperative banks, Ind AS applicability is currently?
  1. A
    Not mandatory (following AS framework)
  2. B
    Mandatory from 2018–19
  3. C
    Mandatory from 2021–22
  4. D
    Mandatory from 2025–26
Question 32Single Answer
Under Ind AS 109, financial assets are classified into?
  1. A
    Amortized cost, FVOCI, FVTPL
  2. B
    Only amortized cost
  3. C
    Only fair value
  4. D
    No classification
Question 33Single Answer
In traditional banking accounting (pre-Ind AS), investments were classified into?
  1. A
    Held to Maturity, Available for Sale, Held for Trading
  2. B
    Only HTM
  3. C
    Only AFS
  4. D
    No classification
Question 34Single Answer
Interest Suspense Account is not created for?
  1. A
    Standard advances
  2. B
    Sub-standard advances
  3. C
    Doubtful advances
  4. D
    Loss assets
Question 35Single Answer
Interest Suspense Account is part of?
  1. A
    Other liabilities & provisions
  2. B
    Advances
  3. C
    Investments
  4. D
    Reserves & Surplus
Question 36Single Answer
Inter-branch debit balance outstanding for more than?
  1. A
    6 months may reuire provisioning
  2. B
    1 year
  3. C
    2 years
  4. D
    No provisioning
Question 37Single Answer
Statutory Reserve in cooperative banks is created till it reaches?
  1. A
    25% of paid-up share capital (or higher as per bye-laws)
  2. B
    10%
  3. C
    50%
  4. D
    No limit
Question 38Single Answer
In Banking Regulation Act, the Balance Sheet must be signed by?
  1. A
    At least 3 directors (or as per rules) & Chairman
  2. B
    Only Chairman
  3. C
    Only Managing Director
  4. D
    No signature
Question 39Single Answer
The Profit & Loss Account of bank must disclose?
  1. A
    Provisions & contingencies as separate line item
  2. B
    Only net profit
  3. C
    Only gross profit
  4. D
    No disclosure
Question 40Single Answer
In Schedule 5 of Banking Balance Sheet, "Other Liabilities & Provisions" includes?
  1. A
    Interest Suspense, Bills Payable, Inter-branch adjustments etc)
  2. B
    Advances
  3. C
    Investments
  4. D
    Deposits

Reasoning

Question 41Single Answer
How many such pairs of letters are there in the word ‘CLEANLINESS’ each of the which has as many letters between them in the word as they have in the English alphabet, in the same sequence?
  1. A
    Two
  2. B
    Three
  3. C
    Five
  4. D
    Four
  5. E
    None of these
Question 42Single Answer
Team A has scored more goals than Team B
Team C has scored fewer goals than Team B
Team A has scored fewer goals than Team C .
If the first two statements are true, the third statement is
  1. A
    True
  2. B
    False
  3. C
    Uncertain
  4. D
    None
Question 43Single Answer
If it is possible to make only one meaningful word with the second, the third, the sixth and the eight letters of the word FRAGMENT using each only once, which of the following will be the third letter of that word ? If no such word can be formed, give ‘X’ as the answer and if more than one such word can be formed, give ‘Y’ as the answer.
  1. A
    A
  2. B
    E
  3. C
    T
  4. D
    X
  5. E
    Y
Question 44Single Answer
How many such letters are there in the word ORIENTAL each of which is as far away from the beginning of the word as when they are arranged alphabetically?
  1. A
    None            
  2. B
    One         
  3. C
    Two       
  4. D
    Three        
  5. E
    More than three
Question 45Single Answer
How many such pairs of letters in the word CREDIT each of which has as many letters between them in the word as in the English alphabet?
  1. A
    None
  2. B
    One
  3. C
    Two
  4. D
    Three
  5. E
    More than three
Question 46Single Answer
How many meaningful words can be made from the letters ‘LMEA’ using each letter only once in each word?
  1. A
    None
  2. B
    One
  3. C
    Two
  4. D
    Three
  5. E
    More than three
Question 47Single Answer
If it is possible to make only one meaningful word with the first, the second, the seventh and the eighth letters of the word TEMPORAL, which of the following will be the first letter of that word? If more than one such word can be made, give ‘Y’ as the answer and if no such word can be made, give ‘X’ as the answer.
  1. A
    T
  2. B
    L
  3. C
    E
  4. D
    Y
  5. E
    X
Question 48Single Answer
If the letters of the word HANDOVER are arranged alphabetically from left to right how many letters will remain at the same position?
  1. A
    None
  2. B
    One
  3. C
    Two
  4. D
    Three
  5. E
    More than three
Question 49Single Answer
How many such pairs of letters are there in the word EXCURSION, each of which has as many letters between them in the word as they have in the English alphabet?
  1. A
    None
  2. B
    One
  3. C
    Two
  4. D
    Three
  5. E
    More than three
Question 50Single Answer
If it is possible to make only one meaningful word with the first, the second, the third, the sixth and the eighth letters of the word DEVIATION first letter of that word is your answer? If more than one such word can be made formed your answer is ‘A’  and if no such word can be formed your answer is ‘B’.
  1. A
    V
  2. B
    T
  3. C
    E
  4. D
    A
  5. E
    B
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