VPM’s K.G Joshi College of Arts and N.

G Bedekar College of Commerce, Thane

Department of M.Com (Banking and Finance)(MCQs Sample Questions)
ACADEMIC YEAR 2019-2020

Name of the Professor: Prajakta Khamkar Class: M.com Part II Semester: IV

Subject : Financial Services Subject Code:67508 Paper: Core

Q1. Banks implement the RBI________

a. Monetary policies

b. Government policies

c. credit policies

d. Advertising Policy

Q2. ______ is regarded as the fourth element of the financial system.

a. Financial services

b. Financial markets

c. Financial instruments

d. Financial institutions

Q3. The ______ is the apex organization in the Indian money market.

a. SBI

b. IDBI

c. ICICI

d. HDFC

Q4. The term _____ is defined as a central location for keeping securities on deposit.

a. Depository

b. Instrument

c. . Institutions

d. Insurance

Q5. Which of the following would be considered a risk-free investment?

a. Currency

b. Gold

c. T-Bills

d. Shares

Q6. Which of the following is not a fee based financial service?

a. Corporate counseling

b. Lease financing

c. Profit management

d. Issue management

Q7. As per the RBI's clean note policy writing on a currency note is?

a. An offense

b. A crime

c. A punishable offence

d. The notes becomes non-legal tender

Q8. The advance value of LIC policy is linked with______

a. Paid up value

b. Face value

c. Surrender value

d. Depending on the age of policy holder

Q9. State Bank of India is a ________

a. Public Sector Bank

b. Private Sector Bank

c. Joint Sector Bank

d. Non-Nationalised bank

Q10. Relationship of banker with payee of draft is?

a. Trustee and Beneficiary

b. Drawees and Drawee

c. Licensor and Licensee

d. .Principle and Agent

Q11. Certificate of Deposit are short term instrument issued by________.

a. Banks

b. Government

c. Corporates

d. .Schools

Q.12.The______ consist of indigenous banker who pursue the banking business on traditional line.

a. Orginised Sector
b. Unorganised Sector
c. Institutes
d. Insurance organisation

Q13. Sensex consist of ____ stock

a. 30

b. 50

c.100

d. 500

Q14. ______ market deals in new financial claim , it is called fresh issue market

a. Primary Market

b. Secondary Market

c. Reseller Market

d. Wholesaler Market

Q15.. ______ is controlling body of financial market

a. SEBI

b. RBI

c. SBI

d. IDBI

Q16. _____ who is currently serving as governor of RBI.

a. Urjit Patel
b . Raghuram Rajan

c. Shaktikanta Das

d. Nirmala Sitaraman

Q17. ________ serves rural area and agriculture sector banking and financial services.

a. NABARD

b. SBI

c. HDFC

d. IDBI

Q18. A _______ market were group of securities in which prices are raising or expected to rise.

a. Bull

b. Bear

c. Stag

d. Stop Loss

Q.19.A ______ exchange at as a common place where trades can buy and sell commodities.

a. Commodity

b. Derivative

c. Forex

d. Banks

Q20. The price of new issue is decided by the company along with its _______ .

a. Merchant Banker

b. SEBI

c. Stock Exchange

d. Banks
 LIBRARY MANAGEMENT
1. Browne charging system originated from
a. United Kingdom
b. United Status
c. India
d. China

2. The process of gliding is done in

a. Shelving
b. Binding
c. Accessioning
d. Cataloguing

3. The facility of inter library loan is provided by ______ section.

a. Reference
b. Circulation
c. Acquisition
d. Technical

4. The routine jobs of a library are performed by a category of______

a. Staff for administrative and financial work
b. Professionals
c. Semi professionals
d. Supporting staff

5. __________ are the two types of audit systems are prevalent in India.
a. Internal and External
b. Random and specific
c. Pre and post
d. Regular and Irregular
 INFORMATION SOURCES

1. Research cannot be started without consulting or compiling

a. A bibliography
b. A catalog
c. An index
d. A periodical

2. Chemical Abstracts is a ________publication.

a.Weekly
b Monthly
c.Quarterly
d. Fortnightly

3. British Books in Print is a

a. National Bibliography
b. Subject Bibliography
c. Trade Bibliography
d. An Index

4. _________ is not the feature of information retrieval system

a. Perception
b. Precision
c. Recall
d. Relevance
 MLISC Sem IV
Digital Libraries
Sample Questions

1. RSS feeds in digital libraries is an example of

(A) Pull Technology
(B) Push technology
(C) Digital Resource Organization
(D) Access infrastructure

2. D Spce was developed in the year

(A) 2003
(B) 1993
(C) 2002
(D) 2010

3. Which is an image format

(A) MPEG layer 3 (MP3)
(B) Windows Media Video (WMV)
(C) Musical instrument digital interface (MIDI)
(D) JPG

4. The IP Asset Usage module provide functionalities for

(A) Permissions Management ,Tracking Management
(B) Rights Validation ,Rights Creation ,Rights Workflow
(C) Digital Rights Management
(D) Preservation Rights

5. search results in a standard and accessible format are provided by

(A) Dulin Core

(B) Search and Retrieval via URL (SRU) and Search
and Retrieval Web Service (SRW)
(C) NISO Metasearch
(D) OpenSearch
 VPM’s K.G Joshi College of Arts and N.G Bedekar College of Commerce, Thane

Department of M.Com (Banking and Finance)(MCQs Sample Questions)

ACADEMIC YEAR 2019-2020

Name of the Professor: Prajakta Khamkar Class: M.com Part II Semester: IV

Subject : Personal Financial Planning Subject Code: 67521 Paper: Core

Q1. Personal financial planning has the main goal of :

a. savings and investing for future needs

b. reducing tax liability.

c. achieving personal financial security and freedom

d. spending to achieve financial wants

Q2. The stages that an individual goes through based on age, financial needs, and family situation is
called the

a. financial planning process

b. budgeting procedure.

c. personal economic cycle.

d. adult life cycle.

Q3. Some savings and investment choices have the potential for higher earnings. However, these may
also be difficult to convert to cash when you need the funds. This problem refers to:

a. Inflation risk
b. Income risk
c. Personal risk
d. Liquidity risk

Q4. Opportunity cost refers to:

a. money needed for major consumer purchases.

b. the trade-off of a decision.
c. the amount paid for taxes when a purchase is made.
d. current interest rates.

Q.5.The time value of money refers to:

a. personal opportunity costs such as time lost on an activity.

b. financial decisions that require borrowing funds from a financial institution.
c. changes in interest rates due to changes in the supply and demand for money in our economy.
d. increases in an amount of money as a result of interest

Q.6.The amount of interest is determined by multiplying the amount in savings by the:

a. annual interest rate.

b. time period.
c. number of months in a year.
d. annual interest rate and the time period.

Q7. The goal of financial literacy is

a. to provide you gain financial knowledge

b. to get you out of debt
c. to get you to make informed financial decisions
d. to help you save money

Q8. The term _____ is defined as a central location for keeping securities on deposit.

a. Depository

b. Instrument

c. . Institutions

d. Insurance

Q9. Which of the following would be considered a risk-free investment?

a. Currency

b. Gold

c. T-Bills

d. Shares

Q10. Which of the following is not a fee based financial service?

a. Corporate counselling

b. Lease financing
c. Profit management

d. Issue management

Q11. What is full form of TDS-

a. Tax Deducted on Saving

b. Tax Deducted on Source

c. Tax Deducted on Statutory

d. Tax Deducted on Subsequently

Q12. Human life consider_______

a. Human Capital

b. Age

c. Salary

d. Relation

Q13. The ______ value of shares varies all time depend on Supply and Demand.

a. Face Value

b. Redemption Value

c. Market Value

d. Net Assets Value

Q14. Factors consider while building allocation except______

a. Taxation

b. Investment time frame

c. Value of allocation

d. Age

Q15. Health insurance provide tax exemption under_____

a. 80 C

b. 80 U
c. 80 D

d. 80 G

Q16. Full form of NAV

a. Net allocation value

b. Net Assets Value

c. Notional Allocation Value

d. Notional Assets Value

Q17. Who is controlling body of Mutual Fund

a.IRDA

b. SEBI

c.RBI

d. SBI

Q18. Most investors are _____ averse.

a. profit

b. risk

c. risk free

d. return

Q19. _____ returns are the total returns earned by an investor during the time period for which the
investment is held.

a. Holding period

b. Annualised

c. Expected

d. Future

Q20. Which one is suitable for small investor

a. Insurance

b. Mutual Fund
c. Certificate of Deposit

d. Shares
 VPM’
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 Page 1 of 6

VPM’s JOSHI-BEDEKAR COLLEGE, THANE.

MCom (Banking and Finance) Part-II Semester-IV

Auditing of Banking Sector

Sample Questions

1. The basic financial statements prepared by a business concern are termed as ____.
a. Financial statements as per Schedule III
b. General Purpose Financial Statements
c. Year-end statements
d. Final accounts

2. The term ‘audit’ has been defined under ____.

a. SA 100
b. SA 150
c. SA 200
d. SA 250

3. For examining the transactions, an auditor has to scrutinize the ____.

a. Vouchers
b. Photographs
c. Trial balance
d. Balance sheet

4. ____ is the basic objective of audit.

a. Detection of errors
b. Detection of frauds
c. Determining whether the financial statements give ‘true and fair view’
d. Compliance with law

MCom (BF) Sem-IV Auditing of Banking Sector – Sample Questions

 Page 2 of 6

5. ____ are unintentional mistakes.

a. Errors
b. Frauds
c. Misstatements
d. Irregularities

6. ____ is not a type of clerical error.

a. Errors of omission
b. Errors of commission
c. Errors of duplication
d. Errors of principle

7. ____ deals with the concept of materiality.

a. SA 200
b. SA 320
c. SA 220
d. SA 300

8. Accounting and auditing are ____.

a. Same as each other
b. Alternatives of each other
c. Different from each other
d. Optional

9. Internal control refers to the control measures established by ____.

a. Auditor
b. Management
c. Government
d. Income tax department

MCom (BF) Sem-IV Auditing of Banking Sector – Sample Questions

 Page 3 of 6

10. ____ is not an inherent limitation of audit.

a. Use of sampling
b. Risk of fraud
c. Risk of errors
d. Independence threats

11. ____ is not a part of audit programme.

a. Audit fees
b. Audit procedure
c. Schedule of audit work
d. Allocation of audit work

12. ____ are the types of working papers.

a. Temporary audit file and permanent audit file
b. Rough audit file and fair audit file
c. Black audit file and white audit file
d. Permanent audit file and current audit file

13. Auditor expresses his opinion on the financial statements based on ____.
a. Vouchers
b. Ledgers
c. Audit evidence
d. Audit programme

14. ____ is not a point peculiar to audit of banks.

a. Huge volumes
b. Limited use of technology
c. Large range of products
d. Complexity of transactions

15. In case of banks, trial balance of the general ledger is prepared ____.

MCom (BF) Sem-IV Auditing of Banking Sector – Sample Questions

 Page 4 of 6

a. Monthly
b. Weekly
c. Yearly
d. Everyday

16. ____ governs the operations of banks in India.

a. SEBI
b. RBI
c. Central Government
d. World bank

17. According to the RBI norms, an eligible audit firm shall have a minimum of ____ full time
chartered accountants.
a. 7
b. 15
c. 10
d. 2

18. As per the Chartered Accountants Act, 1949, a chartered accountant in practice cannot
accept position as auditor, without first communicating with ____.
a. ICAI
b. Central Government
c. Previous auditor
d. ROC

19. The internal control environment of a bank does not include ____.
a. Board directors / senior management
b. Asset liability committee
c. Fixed assets committee
d. Risk committee

MCom (BF) Sem-IV Auditing of Banking Sector – Sample Questions

 Page 5 of 6

20. Account with another branch (inter branch account) should be adjusted only on the basis of
advices received from ____.
a. Head office
b. RBI
c. Auditor
d. The other branch

21. Under ____, the auditor is required to verify the authenticity of a transaction within the
shortest possible time after the transaction takes place.
a. Concurrent audit
b. Internal audit
c. Information systems audit
d. Statutory audit

22. ____ is an examination of management controls within an IT infrastructure.

a. Technological audit
b. Information systems audit
c. Statutory audit
d. Internal audit

23. Objectives of Information Systems Audit does not include ____.

a. Determining risks
b. Ensuring compliance
c. Verify financial controls
d. Determining inefficiencies in IT systems

24. ____ is an audit, which is mandated by law.

a. Concurrent audit
b. Internal audit
c. Information systems audit
d. Statutory audit

MCom (BF) Sem-IV Auditing of Banking Sector – Sample Questions

 Page 6 of 6

25. ____ is not specifically disqualified from becoming an auditor, as per the Companies Act,
2013.
a. Body corporate
b. Person indebted to the company for Rs. 500
c. Partner of an officer/employee of the company
d. Officer/employee of the company

-------------------------------------

MCom (BF) Sem-IV Auditing of Banking Sector – Sample Questions

 Sample questions - International Finance (Mcom II- Sem 4)

1 International finance is the branch of financial ________broadly concerned with monetary and
macroeconomic interrelations between two or more countries.

a. Philosophy

b. Psychology

c. Economics

d. politics

2. India made rupee partly convertible in current account from

a.1992

b. 1982

c. 2002

d. 1972

3. IMF was established on _____.

A Dec. 27, 1945

B Jan. 30, 1947

C Jan.1, 1946

D Sept. 24, 1947

4. Export of goods is called trade in ______

A. Visible goods

B. Invisible goods

C. Service goods

D. Non-real goods

5. The current price of a financial instrument is called the _________price.

a. Forward

b. Future

c. Swap

d. Spot
6. Gold standard introduced in _______.

A. 1913

B. 1990

C. 1876

D. 1944

7. A committee on capital account convertibility was setup by _________.

a. WTO

b. IMF

c. World bank

d. RBI

8. Under main conditionality clause of IMF the country needs to introduce ______reforms.

a. Natural

b. Unstructured

c. structural

d. temporary

9. Final balance of payments of a country is __________

a. Always balances

b. Always deficits

c. Always surplus

d. Always Fluctuates

10. Current account balance, under BoP is always _____ to/than trade account.

a. higher

b. lower

c. equal

d. irrelevant
11. The Bretton Woods accord was signed in __________.

a) 1879

b) 1914

c) 1944

d) 1955

12. ________ is not considered under services.

a. handicraft

b. transportation,

c. hotel and restaurant

d.consulting

13. Capital account under BoP deals with all except ___________.

a. FDI

b. Investment abroad

c. Advances and borrowings

d. Unilateral transfers

14. In BoP, Income receipts represent the money earned by ______residents.

a. Domestic

b. Non-domestic

c. Non-residents

d. foreign

15. The current system of international finance in India is a __________

a) gold standard

b) fixed exchange rate system

c) floating exchange rate system

d) managed float exchange rate system

16. _________ balance is also known the goods and services balance.

a. trade

b. credit

c. capital

d. current

17. Foreign Direct Investment is part of __________ account under BoP.

a. trade

b. credit

c. capital

d. current

18. Increase in population may lead to ______ in BoP.

a. deficit

b. surplus

c. remittance

d. equilibrium

19. derivative securities are part of _____

a. Domestic Money market

B. Bond market

c. Foreign exchange market

d. WTO

20. Devaluation of currency is undertaken by government to promote _______.

a. exports

b. imports

c. remittance

d. import substitution