01..Under SARFAESI Act, 2002, the word Board is used to mean A .. Reserve Bank of India B .. Securities and Exchange Board of India C .. Debt Recovery Tribunal D .. Securitization Company

02..Which pair is not correct A . Obligor ± Borrower B . Lender - Originator C . Sponsor ± Reserve Bank of India D . Secured Financial Institution Creditor -

. title and interest in the security. A .This evidences the purchaser¶s undivided right. Right to possess and enjoy D .03. Ownership B . None of these . Transfer Right C .

Which one cannot be a Qualified Institutional Buyer A . Bank C . A Partnership firm with financial experience D . Insurance company B .04. A Foreign Institutional investor ..

Securitization Company has also to be registered with SEBI. .. SARFAESI Act not applicable to RRBs D . B .05. Which statement is correct A . A foreign institutional investor to be registered with RBI C . An asset reconstruction company need not be registered under Companies Act.

The beneficiaries of such trusts are A . Creditors D . Trustees B . Borrowers C . None of them .06..Securitisation companies can set up separate trusts scheme wise and act as trustee for such schemes.

07.The Securitisation company or reconstruction company can acquire financial asset of any bank or financial institution by issuing A . Any one of the above . Bond C .. Any other security D . Debenture B .

D .Reconstruction company to issue debenture .Identify the odd one (Debenture) A .5% above Bank rate C .The rate of interest on debenture cannot be more than 1..Redemption period not beyond 6 years.08.A debenture for payment of consideration to be paid to the bank for acquisition of financial asset from it B .

09.. None of these .It has the owned funds not less than Rs. Reconstruction Company C . A .2 crore or such other amount not exceeding 15 % of total financial assets acquired or to be acquired as the RBI may specify. Both a & b D . Securitisation Company B .

False C .10.The securitisation company or the reconstruction company can acquire financial asset of any bank or financial institution A .. Incorrect D . True B . Not True .

B . of any bank. A .If registration cancelled.Acquisition of funded assets to include take over of outstanding commitments.. to lend further.Security receipt is in favour of investors D . Reconstruction company can appeal within 45 days C .11. if any.Scheme wise/ asset ±wise separate accounts not required to be maintained . Identify the correct one.

Not applicable to Reconstruction company but to Securitisation company .. Not False B. A securitisation company or reconstruction company can raise funds by way of deposits..12. A . Not True C.. Not applicable to Securitization company but to Reconstruction company D..

While issuing security receipts necessary disclosures to be made without fail ..Identify the incorrect one (Securitisation) A . Non performing asset is linked to overdue period which is 90 days now B .13.If the asset is taken for reconstruction limit is 7 years for reconstruction C .Capital Adequacy of 15% to be there D .

A .. Agreement Date B.The date agreed upon by the secured creditors representing not less than threefourth in value of the amount outstanding on such date..14. Due date . Agreed Date C. Record Date D...

Assignment of Book Debts C .. A .15. Pledge of Goods . Hypothecation of Stock B . Which one is not coming under Securitisation. Mortgage of Land D .

16. None of these . 2 months C .In case of sale of immovable property the borrower should be given notice about the sale before A . 60 days B. 90 days D..

Within 15 days C .. 10 lacs. Nothing at once .17. Then the purchaser has to remit A . 25% of the offer price D . The amount immediately B . An authorized officer has finalised the sale of property for Rs.

18. Perform all the above . Issue Sale Certificate D . Confirm the sale C . The authorized officer can A .. Accept the Offer B .

The authorised officer to publish the possession notice D. B.19. Securitisation (identify the odd one) A. Court permission not required C. For taking possession and then sell the immovable property (under mortgage) court permission required. In two leading newspapers ..

20. 30 days C.An appeal to the Appellate Tribunal is to be preferred within A. 60 days D.. None of these . B. One month from the date of receipt of the order of Debts Recovery Tribunal.

Creation of security interests D ..21. Reconstruction of financial assets C . All the above . Securitization of financial assets B . A record to be maintained at the Central Registrar at their head office to record transactions relating to A .

One month C . When any security interest is registered with the Central Registrar is modified.22.. 30 days B. 60 days . 45 days D. the same is required to be filed before Central Registrar within A .

Rs 10000/. 5 lacs . Rs. If a reconstruction company fails to comply with any of the directions of RBI then the company is punishable with fine not exceeding A .per day D .1 lac for the default.per day C . B . 5000/.23. Rs.. Rs.

All the above .24. Hire purchase or lease in which no security interest has been created C .. A pledge of movable assets B . Any security interest created in agricultural land D .Provisions of SARFAESI ACT not applicable for A .

Bank can approach DRT C . A . The balance outstanding is Rs. Bank will have to write off .12 lacs without any tangible security. Bank cannot approach any court D .25.A bank has realized part of the liability by using Securitisation procedure. Bank will have to forego B ..

Borrower agrees . Limitation period is not over B . Limitation period has not been extended D .26. Debt is time barred C .. After recovery through Securitisation process for balance outstanding to recover the bank can approach competent court provided A .

Ombudsman himself B. Awarding Official C..Banking Ombudsman review authority is A.27. RBI Executive Director D. None of them .

28. Cost of Secretariat to be borne by RBI C . He can not act as an arbitrator ..Banking Ombudsman which is incorrect A . Remuneration to be decided by RBI D . Provided with a Secretariat B .

Non. Observance of RBI directives on interest rates C .issue of drafts to non customers .adherence of prescribed working hours by branches B .Banking ombudsman.29. Failure to pay guarantee amount D .identify odd one A . Non.

Arbitration Act D . None of these .. Reserve Bank of India Act C . Banking Regulation Act B .30.Banking Ombudsman as an arbitrator to follow the scheme as well as the provisions of A .

DRT Act not applicable to A .. None of these . State Bank of India D . Regional Rural Banks C .31. Nationalized Banks B .

.32.Under DRT Act. Appointed by the respective Banks B . Also called Presiding Officer . Appointed by the Central Government D . Also known as Authorized Officer C . a Recovery Officer is one who is A .

The Limitation Act applies for DRT cases C .Which one is incorrect (DRT) A . D .10 lacs . B ..Tribunal to deal with cases above Rs.33.Other Bank can join the application. An application for execution of the decree of foreign court cannot be entertained by Debt Recovery Tribunal.

34. Attachment and sale of movable property B .Any one of the above . Sale of immovable property of the defendant C ..Arrest of the defendant and his detention in prison D .Identify the correct mode of recovery of debts (DRT) A .

The Competent Court C .. The recovery certificate which has been issued requires rectification of arithmetical mistake. It can be done by A . None of these persons .35. The Banker himself B . The Officer of the DRT D .

. 15 days B . .36. 30 days from the date of the order D . 30 days from the date of receipt of the copy of the order. 30 days C .Any person aggrieved by the order of Recovery Officer may appeal to the Tribunal within A .

According to Bankers¶ Books Evidence Act identify the correct one.37. The Act extends to the whole of India including the State of Jammu & Kashmir B .. The Act is not applicable to the State of Jammu & Kashmir .The certified copy need not have any declaration.. A.For a Computer Print out certificate by the Principal Accountant is not acceptable C . D .

Any time before banking business hours B . At least a week before the same is to be obeyed D .38. Any of its branches C .. None of these .For inspection of books by order of court the same has to be served on the bank A .

A dispute where the person against whom complaint has been made.39.. Deficiency in Customer Service . denies or disputes the allegations contained in the complaint refers to A . Customer Dissatisfaction C . Consumer Dispute B .. Consumer Complaint D .

. An unregistered Firm B .Under the Consumer Protection Act. who is not treated as a ³Person´ A . A Co-operative Society D . A Registered Firm C . None of the above .40.

Cannot direct the bank C.. Can direct the bank to give balance loan B .41. However J went to the consumer forum claiming that the loan was inadequate. Can entertain the consumer¶s request D .J applied for a loan which the bank considered. None of these . Then the consumer forum A .

42.Which one is correct A . C . The Central Consumer Protection Council to meet at least two times in a year.. The District Consumer Protection Council to meet at least one time every year. The State Consumer Protection Council to meet at least two times every year. B . D ..The highest council is the National Council ....

District Forum C . State Commission .Identify the odd one (Consumer Disputes Redressal Agencies) A .43.. Central Council D . National Commission B .

whichever is earlier.Every member of the District Forum to hold office for a term of three years or up to the age of sixty-five years.. Partially True D . It is not 3 years but 5 years . True B .44. A . False C .

In case of monetary involvement the person filing appeal A.An appeal against the District Forum¶s order has to be filed before State Commission within 30 days.20.. Need not remit any amount B.45. Has to remit 50 % of the amount ordered C .. Rs.. B & C which ever is less .000 D ...

..For filing any complaint before a District Forum. 2 years C . 3 years D. 1 year B.. No limitation period . State Commission or the National Commission the limitation period from the date of cause of action is A ..46..

Multi person Agreement D ..An Agreement involving 3 persons is called A ...47. None of these .. Bilateral Agreement C .. Unilateral Agreement B .

Assignment D . Hypothecation B . Mortgage . the goods are to be returned or otherwise disposed of according to the direction of the person delivering them.48. A .. When the purpose is accomplished. Bailment C . It is the delivery of goods by one person to another for some purpose .

49.. Under Pledge the pledgee is the A . Debtor B . Creditor C . Borrower D . None of them

50..Termination of Agency is possible A . Principal revoking his authority B . Agent dies during the agency period C . Principal is adjudicated as insolvent D . All the above

51.. Which one does not pertain to sale A . The risk in goods is with the buyer B . The Seller can only sue for damages C . It is a contract in which the parties have already performed their part D . The ownership of goods have already passed irrespective of whether the goods are delivered or not

Condition B ..52. The breach of such a stipulation gives rise to a claim for damages only. Stipulation . Guarantee D . Warranty C .It is a stipulation collateral to the main purpose of the contract. A .

Right to stop goods in transit .. A lien on the goods for the price while he is in possession of them D . The unpaid seller (which one is not the Right) A . Right of re-sale C .53. Right not to withhold delivery of goods B .

This type of partnership can be dissolved by any partner by giving notice in writing to all the other partners of his intention to dissolve the firm. Ordinary Partnership B .. Partnership at Will C . Special Partnership D .54. A . Particular Partnership .

55.. Admit any liability in a suit against him D . Enter into partnership on behalf of the firm . Withdraw a suit filed on behalf of the firm C . Open a banking account on behalf of the firm in his own name B .The implied authority of a partner does not empower him to A .

56.He is personally liable to 3rd parties for all the acts of the firm done C .All the above are applicable . A minor who was admitted to receive the benefits of a firm.Since he was admitted to the benefits of the firm D ..His rights and liabilities as a minor continue upto the date on which he becomes a partner B . on attaining majority and becoming a partner A .

Common seal is not applicable to a firm . A firm does not have a perpetual existence D . Registration of a company is not compulsory C . Registration of a firm is optional B ..Which one is incorrect A .57.

oo lac C . Identify the odd one (Companies) A . A private company can accept deposits only from its members or directors B . Memorandum of Association is a Public document ..58.1. Minimum 3 directors required for Public Ltd company D . For Private company minimum issued capital has to be Rs.

Any share in a ship . Book Debts D . Prospectus C .Which does not require registration? A .. Pledge of company assets B .59.

Authorized Money Changer C .Who is an authorised person under FEMA A . All the above . Authorised Dealer D ..60. Any bank B .

English .61. Conditional Sale D. The mortgagor agrees that in the event of his failing to pay according to his contract.. the mortgagee has the right to sell the mortgaged property and recover his dues. Simple B. Identify the mortgage A . Usufructuary C .

62.On payment of the money the mortgagee will re transfer the property to the mortgagor.. English D. Equitable B. Conditional Sale . Which is that mortgage A. Simple C.

Which statement is true A .63.. Simple Mortgage Deed to be registered within 30 days of execution . Equitable Mortgage Registration is not applicable D . English Mortgage Private Sale is not there C . Simple Mortgage has to be created in a Notified Area B .

in . VASUDEVAN (M) 9819500380 ® 022-27606208 EMAIL THE BEST THANKS T.

Sign up to vote on this title
UsefulNot useful