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1st All India GIC Full length Free Mock Test

1) The term “ Rule of law” was coined by
a) Austin
b) Dicey
c) Coke
d) Saurgny

2) Which of the following types of disputes are not arbitral

a) Time bared debt
b) Industrial matters
c) insurance
d) securities

3) which of the following grounds for setting aside of an award by the court does not find a place in
the act of 1996
a) misconduct of arbitrator
b) misconduct of proceedings
c) the award was procured improperly or was otherwise invalid
d) error of law apparent on the face of record

4) who among the following is authorized to issue regulations regarding shelf prospectus
a) central govt
b) BOD
c) Stock exchange
d) SEBI

5) Which of the following services are not provided by the auditor appointed under the provision
of companies act 2013
a) Internal audit
b) Actuarial services
c) Managerial services
d) All of the above

6) The provisions relating to the appointment of small shareholders director apply to

a) All listed company
b) All public companies having 1000 or more shareholders
c) All public companies having paid up shares capital of rs 100 crore or more
d) Either a, b or c
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7) The total managerial remuneration payable by a public company to its directors and manager in
respect of any financial year shall not exceed_______ of net profit of the company for _______
a) 10% , the preceding financial year
b) 11%, preceding 3 financial year
c) 11%, the preceding financial year
d) 11% that financial year

8) The amount disgorged pursuant to a direction issued under SEBI, SCRA or depositories shall be
credited to
a) The investor protection and education fund established by SEBI
b) The investor education and protection fund established under companies act 2013
c) The CFI
d) None of these

9) ______ is not an operation debt

a) Unpaid salaries of employees
b) Unpaid retirement benefits f EX employees
c) Money borrowed from employees
d) All of these
10) Resolution plan means a plan proposed by
a) The resolution professional
b) The COC
c) Any financial creditor
d) The resolution applicant
11) An Indian insurance company can be
a) A company limited by shares
b) A company limited by guarantee
c) An unlimited company
d) Any of these
12) In case of life insurance, general insurance, health insurance and reinsurance the minimum paid
up share capital is
a) 100cr, 200cr, 100cr, 500cr
b) 100cr, 100cr, 100cr, 500cr
c) 100cr,200cr, 100cr, 200cr
d) 100cr, 100cr, 100cr, 200cr
13) Every insurer carrying on ______ shall _______ cause an investigation by actuary into the
financial condition of such insurance business.
a) Life insurance business, once at least every year
b) General insurance business, once at least every year
c) Life insurance business, once in every 3 year
d) General insurance business, once in every 3 year
14) Acquiring or agreeing to acquire ______ of any enterprise amounts to acquisition
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a) Shares
b) Voting rights
c) Asset
d) Any of these
15) An anti competitive agreement shall be
a) Valid
b) Void
c) Voidable
d) unenforceable
16) any merger by reason of which the enterprise remaining after merger has in India, the assets of
the value more than______ or turnover more than ______ shall be a combination
a) 1000cr, 3000cr
b) 2000cr, 6000cr
c) 4000cr, 12000cr
d) 8000cr, 24000cr
17) _______ is not eligible for reappointment under IRDA Act 1999
a) Chairperson
b) Full time member
c) Part time member None of these
d) None of these
18) The mode of proof of custom is contained in
a) section 32(4) of Indian evidence act
b) section 32(7) of Indian evidence act
c) section 48 of Indian evidence act
d) all of these
19) The insurance advisory committee shall consist of not more than ___ member excluding ex
officio member
a) 10
b) 15
c) 20
d) 25
20) Classification of compoundable and non compoundable offences has been provided under
a) 1st schedule of crpc
b) 2nd schedule of crpc
c) Section 320 of crpc
d) Section 321 of crpc
21) Which authority is empowered under the motor vehicle act 1988 to make scheme for payment
of compensation
a) State govt.
b) Central govt
c) Motor accident claims tribunal
d) High court
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22) Which section of motor vehicle act deals with permanent disablement
a) Section 138
b) Section 139
c) Section140
d) Section 142
23) Composition of certain offences has been provided in which section of motor vehicle act
a) Section 200
b) Section 207
c) Section 203
d) Section 205
24) Which among the following has exclusive power to expand All India Services
a) The parliament
b) Lok sabha
c) Rajya sabha
d) president
25) who proposed the preamble before the drafting committee of constitution
a) Jawaharlal Nehru
b) B.R Ambedkar
c) B.N Rao
d) Mahatma Gandhi
26) Which article of the Indian Constitution talks about the audit of accounts of cooperative
societies
a) Article 243 ZA
b) Article 243 ZE
c) Article 243 ZK
d) Article 243 ZM
27) The adjudicating officer under section 46 of IT act shall exercise jurisdiction to adjudicate the
matter in which claim of loss does not exceed
a) 10 crore
b) 2 crore
c) 3 crore
d) 5 crore
28) Muslim gift deed is
a) Compulsory registrable
b) Not Compulsory registrable
c) Optionally registrable
d) Either b or c
29) Which is not an immovable under registration act
a) Hereditary allowances
b) Lights
c) Fisheries
d) None of the above
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30) Which of the following cannot enter into a partnership

a) Insolvent person
b) A benamidar
c) Karta of HUF with company
d) All of the above
31) A suit against the obstruction in the enjoyment of easementary rights acquired under sec 25 of
limitation act must be filed
a) Within 2 yrs of obstructions
b) Within 1 yrs of obstructions
c) Within 3 yrs of obstructions
d) Within 12 yrs of obstructions
32) Section 27 of limitation act
a) Bars the remedy
b) Extinguish the right
c) Both a & b
d) Neither a & b
33) Can a drawer escape from his liability
a) No, a drawer can never escape from his liability
b) Yes, a drawer can limit or exclude his liability by inserting in the bill and express stipulation
to that effect
c) In certain cases although he can escape from his liability but always he cannot so escape
d) None of the above
34) Where an endorser of the instrument excludes his liability and afterwards become the holder
of the instrument who are liable to him
a) No one is liable to him
b) All intermediate endorsers
c) Only the immediate prior endorser
d) None of the above
35) A contract implied by law is known as
a) Implied contract
b) Contingent contract
c) Quasi contract
d) Express contract
36) When the acceptance is by letter a contract is deemed to be made at the place
a) Where the proposer reside
b) Where the acceptor reside
c) Where the letter of acceptance is transmitted
d) Where the letter of acceptance is received
37) A new way to process milk so that there is no fat in any cheese made from it is covered under:
a). Copy rights
b). Trade mark
c). Patent
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d). Industrial designs

38) A singer wishes to assign the rights to reproduce a video she has made of her concert.
a) Copy rights
b) Trade mark
c) Patent
d) Industrial designs
39) which of the following documents are not governed by Indian stamp act 1899
a) P. notes, BOE, cheques, hundies
b) Letter of credit, bill of lading
c) Life insurance polices, shares, debenture
d) Guarantee bond, mortgage deed
40) While getting loan document signed , adhesive stamps are neither cross signed by the borrower
nor they are cancelled, in this case
a) Documents are properly stamped there is no deficiency
b) Documents have been signed by authorized signatories, no deficiency
c) Documents would be treated as unstamped
d) Documents have been executed on proper forms, no deficiency

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