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3/12/2018 Free Mock Test for JAIIB & CAIIB

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Important Circulars DAILY QUIZ - CAIIB - 07-03-2018 Bank Promotion exams


Master Circulars Only for Bankers
Bank DA Rates Calculate the population standard deviation or dispersion of entire population 165.23, RBI
Bank Holidays
172.51, 162.90, 160.64, 174.08, and 167.45 IIBF
Life Ins Companies IRDA
a. 23.49
Non-Life Ins Companies b. 23.94 SEBI
List of PSBs c. 24.39 BCSBI
List of Private Banks d. 24.93 CIBIL
List of Foreign Banks Banking and Insurance
Ans - a
Financial Regulators Ministry of Finance
Public Grievances Solution: Excise & Customs
Banking Ombudsman Income Tax Department
Mean = (165.23 + 172.51 + 162.90 + 160.64 + 174.08 + 167.45)/6
Planning Commission NSE
= 1002.81/6
Dept of Financial Services BSE
= 167.135
σN = √( (1/6) * (165.23-167.135)2 + ( 172.51-167.135)2 + ( 162.90-167.135)2 + (
160.64-167.135)2 + ( 174.08-167.135)2 + ( 167.45-167.135)2)
= √( (1/6) * (-1.9052 + 5.3752 + -4.2352 + -6.4952 + 6.9452 + 0.3152))
= √( (1/6) * (3.629025 + 28.890625 + 17.935225 + 42.185025 + 48.233025 +
0.099224999999999))
= √ 23.49534784
MultiBagger σN = 4.8472

Stocks Picks variance = (σN)2


= 4.8472 x 4.8472
= 23.49
.............................................

A person invested Rs. 100000 in a bank FDR @ 6% p.a. for 1 year. If interest is
compounded on quarterly basis, the amount payable shall be ......

a. 101363
Sure Shot
b. 130613
MultiBagger c. 106136
Stocks + d. 136106
Intraday Stock
Ans - d
tips (No
Advance Explanation :
Payment - Join Here,
Free)
P = 100000
R = 6% quarterly = 0.015% p.a.
T = 1 yr = 4 quarters

FV = P * (1 + R)^T

So,
FV = 100000 * (1+0.015)^4
= 106136
.............................................

A bond with a par-value of Rs. 100 is purchased for 95.92 and it paid a Coupon rate of
5%. Calculate its current yield.

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a. 5.12
b. 5.21
c. 5.34
d. 5.43

Ans - b

Explanation :

Coupon = Face value × Coupon Rate


And annual interest paid = Market Price × Current Yield
5 = 95.92 × CY
CY = 0.0521 = 5.21%
.............................................

A person wants to receive Rs. 1250 every quarter for 5 years @ 12% roi. How much he
should invest now?

a. 18975
b. 18795
c. 18579
d. 18597

Ans - d

Explanation :

Here,

P = 1250
R = 12% quarterly = 3% p.a.
T = 5 yrs = 20 quarters

PV = P / R * [(1+R)^T - 1]/(1+R)^T

So, PV = (1250 ÷ 0.03) * (1.0320 – 1) ÷ 1.0320


= 18597
.............................................

Linear Trend is calculated as Tt=28.5+075t. the trend projection for period is 15 is ......

a. 11.25
b. 28.50
c. 39.75
d. 44.25

Ans - c

solution:

substitute t=15 into the equation T(t) = 28.5 +0.75 t


= 28.5 + (0.75)(15)
= 28.50+11.25
= 39.75
.............................................

A card is drawn at random from a deck of cards. Find the probability of getting 3 of
diamond.

a. 1/52
b. 1/38
c. 3/ 56
d. 3/38

Ans - 1

Solution :

Since a pack consist 52 cards and among that cards there are 13 diamonds.
Now for same space { A card is drawn out of 52 cards i.e n( S ) = ( 52,a. = n( S ) = 52
Now for event for occurring 3 of diamonds in one drawn out of 13= n( E ) = 1 ( If you
look at the 13 diamond cards the number 3 diamond card is just 1 )
Hence probability of occurrence of getting 3 of diamond
P(E)= n(E)/n(S)
= 1/52
.............................................

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3/12/2018 Free Mock Test for JAIIB & CAIIB
A person borrowed Rs. 10000 from the bank @ 12% p.a. for 1 year, payable on EMI
basis. What is the amount of EMI?

a. 889
b. 898
c. 989
d. 998

Ans - a

Explanation :

Here,

P = 10000
R = 12% yearly = 0.01% monthly
T = 1 Y = 12 months

EMI = P * R * [(1+R)^T/(1+R)^T-1)]

So,
EMI = 10000*0.01*(1+0.01)^12 ÷ {(1+0.01)^12 – 1}
= 889
.............................................

A construction company plans to purchase a new earthmover for Rs. 350000 in 5 years.
Determine the annual savings required to purchase the earthmover if the return on
investment is 12%.

a. 55904
b. 55094
c. 55490
d. 55049

Ans - b

Explanation :

Here,

FV = Rs. 350000
T = 5 years
R = 12%

FV = P / R * [(1+R)^T - 1]

350000 = P × (1.125 – 1) ÷ 0.12


350000 = P × 6.3528
P = 350000 / 6.3528
= 55094
.............................................

A zero-Coupon bond has a future value of Rs. 1000 and matures in 2 years and can be
currently purchased for Rs. 925. Calculate its current yield.

a. 2.78
b. 2.98
c. 3.78
d. 3.98

Ans - d

Explanation :

Here
1000 = 925 × (1 + r)^2

So,
r = 1.0398 – 1
= 0.0398
= 3.98%
.............................................

An amount of money is deposited in a Bank that gives an interest of 5%, compounded


annually, If the amount got after six year is Rs. 5000, then what is the principal amount
of money that was deposited initially?

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a. 3317
b. 3371
c. 3713
d. 3731

Ans - d

Solution

Future cash flow= Rs. 5000


Interest rate=5%=0.05
Time period = 6 years
Present Value= Future value/(1+r)^n
=5000/(1+0.05)^6
=5000/1.3400956
=3731.07
.............................................

Mrs. Y borrowed Rs. 65600 for 2 years at 5% p.a., to be returned in 2 equal


installments. What is the amount of installment?

a. 38520
b. 38250
c. 35820
d. 35280

Ans - d

Explanation :

Here,

P = 65600
R = 5% p.a.
T = 2 yrs

EMI = P * R * [(1+R)^T/(1+R)^T-1)]

EMI = 65600 × 0.05 × 1.052 ÷ (1.052 – 1)


= 35280
.............................................

Present value is Rs.20000. Interest rate is 12 % per annum. Interest is compounded on


quarterly basis. What will be the cash flow at the end of first year?

a. 25210
b. 22150
c. 22510
d. 21520

Ans - c

Solution :

Now there are 4 quarters (as compounding is quarterly) Interest rate per quarter is 3
per cent. So,

C4 = PV(1+i/100)^4
= 10000(1.0c.^4
= 10000*1.125509
= 22510
.............................................

Assume that you have a 6% Coupon console bond. The original face value is Rs. 1000
and the interest rate is 9%. Find the current value of this bond.

a. 567
b. 576
c. 667
d. 676

Ans - c

Explanation :

Current value of console bond


= Coupon ÷ interest rate
= 60 ÷ 0.09
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= Rs. 667
.............................................

21 bricks have a mean mass of 24.2 kg, and 29 similar bricks have a mass of 23.6 kg.
Determine the mean mass of the 50 bricks.

a. 18.35 kg
b. 20.35 kg
c. 23.85 kg
d. 32.85 kg

Ans - c

Solution :
Mean value = ((21 x 24.2) + 29 x 23.6 )) / (21+29)
= 1192.6 / 50
= 23.85 kg
.............................................

A 12%, 4-year bond of Rs. 100 was purchased by x for Rs. 100. If the market interest
rate increased by 1%, what will the market price?

a. 93.07
b. 90.37
c. 97.03
d. 79.30

Ans - c

Explanation :

P = 100
CR = 12%
YTM = 12 + 1 = 13%
So, Price = 97.03
.............................................

Mrs. Z is to receive Rs. 60000 from bank at the end of 3 years, being the maturity value
of a term deposit. How much he is depositing now, if the interest rate is 10%?

a. 40578
b. 45078
c. 47058
d. 48075

Ans - b

Explanation :

PV
= FV ÷ (1+r)T
= 60000 ÷ 1.3331
= Rs. 45078
.............................................

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