THE INSTITUTE OE CHARTERED ACCOUNTANTS OF INDIA

Tnterna I A udit Stdnda rds Boaro

Model Question Paper

Certificate Course on Concurrent Audit of Banks

(This Model paper contains 20 Questions. However, the final

examinatio:r contains 100 Questions. You will be given 90 minutes
to complete the test)

Baicll.

Name
Membership Number
Number of Suestions: 20

Directions of the Questions: Choose the Iight ansrver to each question out oI the
options provided

QUESTION PAPER

ABOUT THE TEST :

1. This test has fifty (20) quesiions lo examine yoLu abilities. Each question carties
equal marks.

HOW TO ANSWER r

1. There is only one co ect ansn'er for each question and ans."\.er the questions b),
wdting the iight opiions in Ansn er Colurnn. There is no negative marking.
2. Do the rough work onl1, on Tg51 pap"r.
3. Follow the instructions of the invigilator'.

AFTFR THE TEST

 1. At the end of the test, lemain seated until thc invillilator collects the A1-6wer
Sheets From your seats.

ANY CANDIDATE GIVING/ SEEKING/ RECEIVING ASSISTANCE OR FOUND

COPYINC WILL BE DISQUALIFIED

Questions
Cuidelines of conducting internal / concu(cnt audii
environment is provided in SIA Pronounced by ICAI
(a) 10
(b) 12
(c) 1a
(d) 16
i Which Actin India addresses the issue of laundeted noney coming
into and going out of India
(a) PMLA
(b) SOX Act, 2002
(c) Anti-Bibery Act
(d) SAITFAESI Act 2002

Lrad IRi-l A,-e-5mLnt oI the b, rr'r\dr unrl\r\lor

(a) Assessing the repayment Capacity
(b) To fix ihe pricing oI the producr
(c) To revie\,. the units performance
dl None of the above
The term cost of capital for a project depends on:
(a) The use to which the capital is put, i.e. the proj€ct
(b) The company's cost of capital
(c) The indLLSIry cost ol capital
(d) A1l of the above

I ITF stands for

I (a) International Tclecom Facilit)'
(b) Integrated Text leature
(c) InteErated Tesi Facilitv
(d) Nonc of the above
 Q ueqlion' lry"r 1
(errLrar Banl,' lndi,r, i'" _ rlion r i,'eo odnk' ll ''la*'f-'l,J_:
(a) Co-operative Socieq/ registered under the Co oPeratiYe
Societies Act
(b) Body coiporate constituted under sPecial statute/s
(c) ComPan)' registered under the lndian ComPanies Act1956
(d) either (b) or (c)

The full form of NIPBF is:

(a) Maximum Permissible Bank linance
(b) Minimum Possibie Bank Finance
1,, Vld\inu'-r lro\ i-ion of Brnl fd, -r n;
(d) None of the above

The Reserve Bank of India Act,t934 deal vvithi

does not
(a) filuncial suPervision of banks/financial institutions
(b) policJ, planning of cooPerative banks
(c) mana8ement of forex/forex reserves
(d) caPital manaBement and btsiness of banks

CRII and SLR are techniques of :

(a) Co-OPerative Banks

(b) State Bank of India
(c) RBi
d) TDBI
10. Bancassurance is :

(a) an insurance scheme to insure bank dePosiis C

(b) an insurance scheme exclusively for the employees of banks
(c) a composite financial seNice offering both bank and
insurance prodtlcts
(d) a bank deposit schcme exciLrsively for ernPloyees of
insurance comDanies
S. No. _ Questions Answers
r(1, bdr\ir!
(or(
13. Banl,irSR.gulnlionA.llo4o\^d-(.d(ledi^regLrl'le: T-)
{dr lle-, r\ e B.,nk ol lnlli" D
ror oJn[:ng (on panie-
(L) rooper.rli\e ldnd oe\cloPme_t bdr k\
(d) primary agricultural credit societies
14. B,rnk { grarl...r ovcrordft o AB, IIIatsdn'llro,kdFbl-.'hi'i.
.c.ur.d by: U
(d) lr\ pUlh.crtio-
rbr pledee
() nortgdec
(d) a--igrm. rt

I5. 'PIN' in ATM card is :

a
(a) Permanent InJormation Number B
(b) Personal Identification Number
(c) Professional Identilication Number
Id) Permanent Identification Number
"Buy Now - Pay Later " is commonly used for
16.
A
r

(a) Credit cards

(b) ATM Cards
(c) Charge Cards
(d) None of the above

17. Long Form Audit Report (LFAR) is prcpared/ submitted by:

(a) bank's concurrent auditor/s C
(b) RBI inspector/s
(c) stahrtory auditors
(d) all oI the above

18. l,Vhich ol the lo11o1\,ing asset/s is/arc not NPAS:

(a) Fixcd Assets A
(b) Standard Assets
(c) Both (a) and (b)
(d) Neithcr (a) nor (b)

'19 Concepi of Dynamic Provisioning is introduce.l bv:

(a) ICAI B
(b) RBI & BASEL
fc) Bankinq Requlation Act, 19.19
S. No. Ouestions
(d) Concurrent Audit Manua1

20. Which of the following tecluriques can be applied in concurrent

au dit in CBS environment: B
(a) Exception report review
(b) inspectiory observatioq recaiculation
(c) auditing 'through' ihe computer
1d) all of lhe abore