LFAR in the Bank Branch Audit

LFAR in the Bank Branch Audit

Professional Development

13 Qs

quiz-placeholder

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LFAR in the Bank Branch Audit

LFAR in the Bank Branch Audit

Assessment

Quiz

Professional Development

Professional Development

Hard

Created by

CA Saturday

Used 1+ times

FREE Resource

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Q.1) Who prepares the Detailed questionnaire of LFAR?

Auditor

Head office

Branch Management

RBI

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Q.2) Whether LFAR is not a Substitute for Main Audit Report?

True

False

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Q.3) How many reports are to be given by Bank Branch Auditor?

Two

Three

Four

Five

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Q.4) Last date of submission of LFAR Report?

31 March

12 April

30 June

31 December

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Q.5) As per revised LFAR, Criteria for large advances?

5% of Aggregate advances or 2 Cr whichever is less

10% of Aggregate advances or 10 Cr whichever is less

15% of Aggregate advances or 2 Cr whichever is less

10% of Aggregate advances or 10 Cr whichever is more

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Q6) Which is not a step to be followed by the auditor in examining credit appraisal?

Obtain credit policy of the bank including circulars for delegation of power issued by Head office.

Verify that any deviation are approved by competent authority mentioned in credit policy.

Examine the sanction letter and verify from the system that correct rate of interest is being entered.

Verify the creditors of the bank

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which major Bank Audit Kalani&Co have?

HDFC bank

AU small finance

AU Bank

PNB

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