IIBF BC Exam Question Paper, Books, PDF Notes 2024

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IIBF BC Exam Question Paper PDF Download

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Name of Exam	IIBF BC/ BF
Application Mode	Online
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Sample Ques Ans PDF	Hindi || English
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IIBC BC New Pattern Questions and Answers PDF 2024

1. All the time opening an account, banks advise the customers to indicate the nominee to whom amounts are payable in the event of the death of depositors. Which one of the following statements is correct regarding nomination? (Select the most appropriate option from the following).
   • The amounts laying in the account are transferred to the nominee after obtaining the legal heir status.
   • For a single deposit account, there may be more than one nominee and the outstanding balance is distributed by the bank as per the ratio advised by the deceased account holder.
   • Nomination can be made in favour of legal entities also i.e. associations, trusts, Companies etc.
   • A single depositor may nominate a person to whom in the event of the death of the depositor the amount to his credit may be paid by the banking company.
2. Banks issue demand drafts (DD) on customers’ requests for the purpose of remittance of funds to third-party beneficiaries. Banks should ensure that demand drafts of ——- and above are issued invariably with account payee crossing. (Select the most appropriate option from the following).
   • Rs. 15,000
   • Rs. 20,000
   • Rs. 50,000
   • Rs. 10,000
3. Under which one of the following bodies is the Banking Ombudsman Scheme implemented for the redressal of customers’ grievances? (Select the most appropriate option from the following).
   • RBI
   • Ministry of Finance
   • Bank’s Central Offices
   • State Governments
4. Bank A sanctioned and disbursed a sum of Rs. 25,000 on 1/4/20XX. It charges 9% interest on the account on quarterly bases. The amount of interest to be charged to the account on 30/06/20XX would be (Select the most appropriate option from among the following).
   • Rs. 2,250
   • Rs. 600
   • Rs. 563
   • None of the above
5. An NRI ——- a PPF account. (Select the most appropriate option from the following).
   • Cannot open
   • Can open
   • Can open provided the deposits in the account are made in foreign currency
   • Can open but he/ she will get SB interest rate
6. To trace the money laundering activity, the general stages, in sequence are observed so that the money appears legitimate at the last stage. Which one of the following correct sequence of money laundering? (Select the most appropriate option from the following).
   • Layering, Placement, Integration
   • Placement, Integration, Layering
   • Placement, Layering, Integration
   • Integration, Disposal, Layering
7. When a customer deposits money by opening an account with a bank, the relationship between the bank and his customer is that of ——– (Select the most appropriate option from the following).
   • Creditor – Debtor
   • Debtor-Creditor
   • Bailee – Bailer
   • Lessor – Lessee
8. The educational Loan Scheme of banks aims at providing financial support to students for pursuing higher education in India and abroad. Which of the following expenses are not considered while arriving at the Educational Loan Amount? (Select the most appropriate option from the following).
   • College/ courses fees i.e. examination fees, Hostel charges
   • Cost of books, equipment, computer/laptop etc.
   • Travel expenses for students in India, mess charges, and out-of-pocket expenses essential for studies
   • Life insurance premium for life cover of student borrower, if applicable
9. When a customer avails an overdraft/loan from the bank, the relationship between the bank and his customer is that of ———- (Select the most appropriate option from the following).
   • Trustee – Beneficiary
   • Debtor-Creditor
   • Creditor – Debtor
   • Bailee – Bailer
10. Which of the following salient features of the Basic Savings Bank Deposit Account (BSBDA) are correct? (i) A kind of Demand deposit opened to extend normal banking facilities with no minimum balance, no bank charges and with ATM (Debit) card facility. (ii) Withdrawl from this account, including through ATM, in a month, is restricted (ii) KYC and other CDD (Customer due diligence) norms are followed at the time of opening of the BSBD account. (iv) While opening BSBDA, no other Saving Bank Account will be permitted to be maintained in the bank. If there is any other SB account, the same is to be closed within 30 days. (Select the most appropriate option from the following).
    • Only (ii), (iii) and (iv)
    • Only (i), (ii) and (iv)
    • Only (i) and (ii)
    • (i), (ii), (iii) and (iv)

Download IIBF BC PDF (400+ Ques & Ans) March 2024 Pattern

Hindi || English

IIBF Business Correspondents (BC) Ques Ans (Old Pattern)

1. We should keep our savings with banks because

• It is safe
• Earns interest
• Can be withdrawn anytime
• All of above

2. Bank does not give loans against

• Gold Ornaments
• LIC policy
• Lottery ticket
• NSC

3. Bank having maximum number of branches in India

• Reserve Bank of India
• State Bank of India
• Punjab National Bank
• Bank of Baroda

4. 100/- Rupee note is signed by

• Prime Minister
• Finance Minister
• RBI Governor
• None of above

5. ATM password should be kept in

• Personal diary
• Office diary
• Memory
• All of above

6. ATM password to be shared only with

• Spouse
• Obedient son
• Obedient daughter
• None of above

7. Nomination can be done in

• Savings Bank account
• Recurring Deposit account
• Fixed Deposit account
• All of above

8. Who is the present Governor of RBI?

• K.C. Chakrabarty
• D K Mittal
• Shaktikanta Das
• Montek Singh Ahluwalia

9. is the logo of

• Pradhan Mantri Jan Dhan Yojana
• Central Bank of India
• Reserve Bank of India
• None of above

10. Minimum age required to open SB account in the bank

• 8 years
• 10 years
• 12 years
• None of above

Download IIBF BC PDF (400+ Ques & Ans) March 2024 Pattern

Hindi || English

11. Bank does not provide loans for

• Corona low
• Education loans
• Home loans
• Drinking & Gambling

12. KYC means

• Know your customer
• Know your character
• Both of about
• None of above

13. Loans from money lenders are

• With High rate of interest
• No proper accounting
• No transparency
• All of above

14. ATM means

• Any Time Money
• Auto Truck of Mahindra
• Any time
• None of above

15. Timely repayment of loans results

• Good reputation
• No tension
• Easily availability of loan in future
• All of above

16. Defaulter of loan means

• Not paying loan instalments
• Bad reputation
• Illegal activities
• None of above

17. Life insurance means

• Insurance of human
• Insurance of life of human and Cattle
• Insurance of Life of Machines
• All of above

18. General Insurance relates to insurance against

• Fire
• Theft
• Burglary
• All of above

19. Aadhaar is

• 12 digit number card
• Identity proof issued by UIDAI
• Both (a) & (b)
• None of above

20. E or S means

• East or South zone
• Easy and Swift
• Either or Survivor
• None of above

21. Which is prohibited for writing on currency notes?

• Political message
• Religious message
• Personal message
• All of above

22. PPF means

• Pension Planning Funds
• Person having Pension Facilities
• Public Provident Fund
• Permanent Practitioner’s Forum

23. Highest denomination of currency notes issued by RBI is

• Rs.100/-
• Rs.500/-
• Rs.1,000/-
• Rs.10,000/-

24. NRI means

• Non Rural Individuals
• Non-Rural Immigrants
• Non-Resident India
• None of above

25. PAN means

• A kind of utensil
• Primary Account Number
• None of above

26. Who is the present Union Finance Minister of India?

• Nirmala Sitharaman
• Shri Rajnath Singh
• Shri Manohar Parrikar
• Shri Suresh Prabhu

IIBF BC Exam Question Paper PDF Download English

27. Bank provides loans for

• Home
• Car
• Education
• All of above

28. Which currency note has a security thread?

• Rs.50/-
• Rs.100/-
• Rs.500/-
• All of above

29. The safest place for keeping money

• A pit dug in the ground
• An iron box
• Bank
• Money lender

30. Gold and silver ornaments should be kept in bank lockers

• It is safe
• No risk of theft
• Both (a) & (b)
• None of above

31. Currency notes are issued by

• RBI
• NABARD
• Public sector banks
• Central Government

32. Coins are issued by

• Government of India
• NABARD
• Public sector banks
• State Bank of India

33. Bank Pass Book is

• Issued by Bank
• Contains transaction details of Bank account
• Shows balance in account
• All of above

34. Banks pays interest on

• Deposits
• Loans
• Both (a) & (b)
• None of above

35. Bank charges interest on

• Deposits
• Loans
• Both (a) & (b)
• None of above

36. Education Loans

• Cover tuition fee & expenses
• Are repayable after completion of course
• Granted for studies in India & abroad
• All of above

37. Business Correspondent means

• An agent who provides banking services.
• An agent of business house
• A type of money lender
• None of above

38. Internet banking refers to

• Operation of account through
• ATM account
• Both (a) & (b)
• None of above

39. Nomination once done can

• Not be cancelled
• Be cancelled
• Not be changed
• None of above

40. Who can open a bank account?

• Indian citizen
• Non Resident Indian
• Illiterate
• All of above

41. All-time deposit scheme?

• Rs. 50,000/-
• Deposits in excess of Rs.1 lac
• Deposits Rs. 50,000/-
• All transactions above

42. TDS means

• Time Deposit Scheme
• Total Deposit Scheme
• Tax Deducted at Sourced
• None of above

43. Maximum amount of Cheque

• Rs.100 crore
• No limit
• Rs.1 crore
• None of above

44. Bank draft is issued by

• Private Sector Banks
• Regional Rural Banks
• Public Sector Banks
• All of above

IIBF BC Exam Question Paper PDF Download 2024

45. Self Help Group involves

• Group of 5 to 20 people
• Regular saving habits
• Inter-lending within the group members
• All of above

46. Payment of a cheque can be stopped by

• Beneficiary
• Nominee
• Drawer of cheque
• All of above

47. Account payee cheques can be paid

• At cash counter of Bank
• At ATM
• By deposit in Bank account
• None of above

48. In Recurring Deposits

• A fixed sum is deposited every month
• Period of deposit is a fixed tenure
• Interest is paid at FDR rate
• All of above

49. While making a nomination, the signature of the nominee is required on

• Account Opening Form
• Nomination form
• Affidavit
• None of above

50. Interest on Savings Bank Deposits is paid

• Every month
• Quarterly
• Half yearly
• Yearly

51. Mutilated notes

• Should be
• Should be thrown away
• Should be thrown
• None of above

52. ATM can be used for

• Cash withdrawal
• Account enquiry
• Statement of account
• All of above

53. Upon detection of a counterfeit note at the counter, Bank

• Returns the note to the customer
• Exchange with a genuineNote
• Deposit in Account
• Impound the Note and issue receipt

54. Fixed Deposit can

• Not be withdrawn before maturity
• Paid only after maturity
• Withdrawn before maturity
• All of above

55. Interest on FDRs is compounded on

• Monthly basis
• Quarterly basis
• Half yearly basis
• Yearly basis

56. Contents of the locker are

• Only known to hirer
• Known to Bank
• Both (a) & (b)
• None of above

57. If locker rent is not paid, the Bank can

• seal the locker
• stop operation of locker
• break open the locker after giving suitable notice
• All of above

58. MGNREGS stands for

• Mahatma Gandhi National Rural Employment Generation Scheme
• Mahatma Gandhi Nutrition & Rural Employment Generation Scheme
• Mahatma Gandhi National Rural Employment Guarantee Scheme
• None of above

59. Maximum tenure of Fixed Deposit is

• 5 years
• 7 years
• 8 years
• 10 years

60. What is RuPay Debit Card?

• Domestic debit card
• Introduced by National Payments Corporation of India
• Accepted at all ATMs & PoSmachine
• All of above

61. To whom Overdraft facility of Rs.5,000/- in PMJDY Account is available?

• After 6 months of satisfactory conduct of account
• One account per household
• Customers in age group of 18-60 years
• All of above

62. What is Direct Benefit Transfer?

• Cash discount on goods
• Remittance through Banks
• Transfer of social benefits /subsidies directly in Bank accounts of beneficiaries
• None of above

63. What is meant by Aadhaar seeding?

• Linking of Aadhaar with Bank account
• Duplicate issuance of Aadhaar
• Transfer of Aadhaar
• None of above

64. What are the benefits attached to PMJDY?

• Accident insurance cover of Rs.1.00 lac
• Life insurance cover of Rs.30,000/-
• Overdraft facility up to Rs.5,000/
• All of above

65. Who can open an account under PMJDY?

• Minor above the age of 10 years
• Only lady of the house
• Only head of the family
• All of above

66. Who is Bank Mitra?

• Banking Correspondents engaged by Banks
• Valuable customer of Bank
• Security guard in a branch
• None of above

67. What is the maximum amount of deposits acceptable in Small accounts?

• Rs.30,000/-
• Rs.40,000/-
• Rs.50,000/-
• None of above

68. What kinds of services are available free in ‘Basic Savings Bank Deposit Account’?

• Receipt / credit of money through NEFT / RTGS
• No annual maintenance charges on ATM-cum-Debit card
• 4 withdrawals in a month (including ATM withdrawals)
• All of above

69. What is the minimum deposit required while opening a BSBD Account?

• Rs.100/-
• No minimum deposit required
• Rs.1,000/-
• Rs.500/-

70. What is Atal Pension Yojana (APY)?

• Provides social security to the unorganized sector
• Encourages workers to voluntarily save for their retirement
• Fixed pension is paid on attaining age of 60 years
• All of above

71. What is Pradhan Mantri Suraksha Bima Yojana (PMSBY)?

• Accidental insurance cover
• Life insurance cover
• Overdraft up to Rs.5,000/-
• None of above

72. What is Pradhan Mantri Jivan Jyoti Bima Yojana (PMJJBY)?

• Covers life insurance up to Rs.2 lac
• Accident insurance cover
• None of above

73. Which type of deposit earns a higher interest rate?

• Current account
• Savings Account
• Fixed Deposits
• None of above

74. Under PMSBY, an accidental death claim is available for:

• Rs.1 lac
• Rs. 2 lac
• Rs. 3 lac
• None of above

75. What is the validity period of the cheque?

• 4 months from date of issue
• 3 months from date of issue
• 1 month from date of issue
• Unlimited

76. Under PMSBY, partial disability claim is available for:

• Rs.50,000/-
• Rs.1 lac
• Rs.2 lac
• None of above

77. Can an illiterate person be issued a Debit card?

• No
• Yes
• Only in case of joint account
• Only in case he is head of family

78. Under APY, the fixed pension can be chosen from:

• Rs.1,000/-, Rs.2,000/-, Rs.3,000/-, Rs.4,000/-, Rs.5,000/-
• Rs.2,000/-, Rs.3,000/-
• Rs.4,000/-, Rs.5,000/-, Rs.6,000/- Rs.500/-, Rs.1,000/-, Rs.2,000/-, Rs.3,000/-, Rs.4,000/- None of above

79. PMJDY LIC Insurance of Rs.30,000/- is available for first-time accounts opened

• On 15th August 2014
• On 26th January 2015
• Between 15th August 2014 and 26th January 2015
• None of above

80. are not covered under PMJDY Life Insurance Scheme of Rs.30,000/-

• Employees of Central / State Govt. / Public Sector Undertakings / Banks
• Income Tax Payee
• Aam Aadmi Bima Yojana beneficiaries
• All of above

MultiChoice Questions on MUDRA Loans under PMMY

Q1. What does PMMY Stand for?

• Pradhan Mantri Money Yojana
• Pradhan Mantri Mudra Yojana
• Primary Money Market Yojana

Q2. What is the maximum loan amount available under PMMY?

• 5.00 lacs
• 10.00 lacs
• 50.00 lacs

Q3. How much loan can be availed under the “Shishu” Category?

• 10,000/-
• 50,000/-
• 1,00,000/-

Q4. A loan of 5 lacs is covered under which category?

• Shishu
• Kishore
• Tarun

Q5. What is the purpose for which MUDRA loan can be availed for carrying on any activity related to_ _?

• Manufacturing, Processing, Trading, Services
• Personal loan
• Investment in Shares, commodities in Primary or Secondary Market

Q6. PMMY Loan is given for which purpose?

• Income Generation Purpose
• Consumption Purpose
• Both of above

Q7. What are the Collateral /securities to be kept with Banks for getting loans for MSE under PMMY?

• Mortgage of movable or immovable Assets
• Third-Party Guarantee
• NIL

Q8. Who can avail of the PMMY loan?

• Any Indian Citizen
• Any firm, body corporate, company, or any other entity incorporated in India
• Both (a) and (b)

Q9. From where the PMMY loan can be availed?

• Public Sector Banks, Private Sector Banks, Foreign Banks, Cooperative Banks, RRBs, NBFCs and MFIs
• Directly from MUDRA
• Both (a) and b)

Q10. PMMY Loan can be availed from the bank in which?

• the customer has the banking relation with the Bank
• the customer does not have the prior banking relationship (saving / current account) with the bank
• Both and c)

Q11. What is the role of MUDRA under PMMY Loans?

• MUDRA is a direct lending Institution and lends to small /micro units entrepreneurs directly for PMMY
• Acts as a Refinance Agency and refinances to all banks, NBFCs, MFIs for onward lending to customers under different categories of PMMY loans, as per need of the customer.
• MUDRA is regulator of banks

Q12. The borrowers can avail of the credit in a hassle-free and flexible manner with the MUDRA CARD which is a

• Debit Card with Sanctioned limit
• Credit Card
• Ordinary Debit Card

Q13. MUDRA Card is a debit card on which payment platform?

• RuPay Visa
• Master Card

Q14. What is the use of the MUDRA Card? And how it can be used?

• In drawing cash from ATM or Business Correspondent
• Make purchases using Point of Sale (POS) machine.
• Both of above

Q15. Who issues the MUDRA Card to the customer?

• Banks either directly or in association with MFIs
• MFIs directly
• MUDRA

Q16. PMMY loans are applicable to _?

• all banks all over India
• within the Notified areas/locations in India
• all banks all over India and abroad

Q17. What are the Interest rates of the PMMY loans extended by banks, NBFCs, MFIs to the borrowers?

• Reasonable rates decided by lending banks, NBFCs, MFIs that should fall within the overall RBI Guidelines
• The rates as prescribed by MUDRA
• Uniform rates as stipulated by the RBI

Q18. PPMY Loans are provided for what Tenure?

• 1 year
• 2 year
• depends on cash flows of the business and decided by the lending Institution

Q19. What is the grievance redressal mechanism available against bank officials, in the event of non-sanction of loan?

• The matter can be escalated to the next higher office (region / Zone) on the Bank
• Customer can register complaint on Banks Nodal Officer-PMMY or PMMY Mission office or PMMY Toll Free
• Both of above

Q20. What are the documents that are required to be submitted for availing loans under MUDRA?

• Standard Loan Application Form
• KYC, and other documents as may require as per internal guidelines of lending bank /NBFC / MFI
• Both of above

Q21. Who monitors the implementation of PMMY progress at the National level?

• MUDRA/Department of Financial Services
• State Level Bankers Committee (SLBC)
• Both

Q22. Where are the Frequently Asked Questions (FAQs) on PMMY Loans available for the information of the Lending Institutions/public?

• DFS website
• PMO website
• MUDRA website

Q23. Sample Project Profiles for running or setting up of micro/small enterprises is available at

• DFS website
• MUDRA website
• PMO website

Q24. MUDRA has been set up by whom?

• Government of India
• RBI
• SEBI

Q25. The loans sanctioned by banks/ NBFCs/ MFIs on or after up to 10 lacs for small business income–generating activities are known as PMMY loans.

• 18-Mar-15
• 08-Apr-15
• 20-May-15

Q26. What is the amount of overdraft facility sanctioned under PMJDY is classified as MUDRA loans under PMMY?

• 5,000/-
• 10,000/-
• 15,000/-

Q27. Who is eligible to get the MUDRA Loans under PMMY out of the following borrowers?

• Large Corporates
• Municipal Corporations
• Small fruit vendors, vegetables sellers etc.

Q28. Total loans sanctioned/ disbursed under PMMY is accessible for information of the Banks/ NBFCs / MFIs, General Public at large.

• DFS website
• MUDRA Portal
• PMO website

Q29. All PMMY loans will be governed by _, formulated by MUDRA, in consultation with DFS, rating agencies, MFIN and Sa-Dhan, and other stakeholders for adoption by all the lending institutions.

• MUDRA Loan Code of Lending
• MUDRA Loan Charter
• PMMY Loan Charter

Q30. MUDRA scheme is applicable to which type of MSE businesses under Income Generation purpose

• Newly start-ups
• Existing business for expansion or upgradation
• Both (a) and b)

IIBF BC Exam Book 2024

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However IIBF BC Exam Book in Hindi pdf free to download from this website, also available in the Marathi language. It’s publicly available on the Internet. We are providing the direct link in the important link section on this page.

IIBF BC Exam Notes 20242 PDF Download

As IIBF suggested that the candidate should read IIBF Vision (Monthly) and IIBF Quest (Quartly) to maximize their score in any IIBF Exams including Business Correspondent (BC) and Business Facilitator (BF) Exam. Here are all IIBF BC Exam Notes available. That will surely help qualify and score higher marks in the exam.

• Structure of Indian Banking and Types of Banks
• Various Deposit Schemes and other Services
• Account Opening, on-Boarding Process, KYC Mechanism, and Operations
• Accounting, Finance & Operations
• Loans and Advances: Retail Lending
• Principles of Sound Lending
• Kisan Credit Card Scheme
• Asset Classification and Methods of Recovery
• Grievance Redressal Mechanism in Banks and Banking Ombudsman Scheme
• Overview of Financial Market
• Financial Banking and Banking for the Unbanked
• Microfinance and Self-Help Groups (SHGs)
• A Vehicle for Financial Inclusion
• Risk and Fraud Management
• PMJDY, PMJJBY, PMSBY, AND APY
• Basic Technical Skills (handling Micro-ATMs, Biometric, and other Devices, Basic Connectivity Issues)

Important Links – IIBF BC Exam Question Paper

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