
LFAR in the Bank Branch Audit

Quiz
•
Professional Development
•
Professional Development
•
Hard
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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