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CAIIB SUCCESS
Class-6 Date: 31 Oct 2023
Class Time: 7 PM
(BRBL Module-B)

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JAIIB CAIIB BABA
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1. The term hypothecation has been defined in which of the
following acts?

(a) Indian Contract Act 1872

(b) Negotiable Instrument Act 1881
(c) Transfer of Property Act 1882
(d) SARFAESI Act 2002

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2. Section 138 of NI Act provides for penal provisions in case of
dishonour of cheque for insufficiency of funds in the account which
includes imprisonment for a term which may be extended to ______
years, or with fine which may extend to _____ the amount of the
cheque, or with both.
a) Two, same
b) Three, twice
c) Two, twice
d) Five, thrice

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3. The records relating to the identity of clients shall be maintained for a
period of _____ from the date of cessation of the transaction between the
client and the banking company.
(a) 5 years
(b) 3years
(c) 10 years
(d) 7 years

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4. Which of the mentioned parties is not involved in bill of exchange.
(a) Drawer
(b) Drawee
(c) Payer
(d) Payee

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5 . In case of wrongful dishonour, the drawee is only liable to which of the
following participant for compensation.
(a) Payee
(b) Endorsee
(c) Holder
(d) Drawer

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6. When a Bank is paying a cheque presented for
payment for debit from the Savings Bank Account of the
customer, what is the relationship between banker and
customer?

(a) Principal and Agent

(b) Lessee and Lessee
(c) Debtor and Creditor
(d) None of the above
7. Which of the following are the objectives of enacting the Foreign
Exchange Management Act 1999?
I. Facilitating external trade and payments
II. Orderly development and maintenance of foreign exchange market.
III. The FERA was too rigorous and had outlived its utility
IV. To implement strict laws to reduce exports for conservation of foreign
currency.
(a) I, II and IV only
(b) I, III and IV only
(c) I, II and III only
(d) I, II, III and IV

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8. Person resident in India means a person residing in India for more than ___
days in the preceding_______ year.
(a) 180, financial
(b) 180, calendar
(c) 182, financial
(d) 182, calendar

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9. If any person contravenes any provision of FEMA Act, he shall, upon
adjudication, be liable to a penalty up to _______ the sum involved in such
contravention where such amount is quantifiable, or up to Rs.
_______where the amount is not quantifiable.
a) Twice, Two lakhs
b) Thrice, one lakh
c) Thrice, two lakhs
d) Twice, one lakh

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10. No system provider shall cause any change in the system which
would affect the structure or the operation of the payment system
without giving notice of not less than ______to the system
participants after the approval of the Reserve Bank.

a) 10 days
b) 30 days
c) 45 days
d) 60 days

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11. Where RBI has any objection related to the changes proposed by the
system provider, it shall communicate such objection to the system provider
within _______ of receipt of intimation of the proposed changes.
(a) 4 weeks
(b) 2 weeks
(c) 1 week
(d) 5 weeks

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12. In case of revocation of the authorisation , the service provider may
appeal to the central government within ______ from the date on which
the order is communicated to him.
(a) 30 days
(b) 25 days
(c) 20 days
(d) 15 days.

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13. A Financial Instruments whose value is derived from change in
interest rate, foreign exchange rate, credit rating or credit index, price
of securities etc. (also called “underlying”), or any other underlying or
a combination of more than one of the aforesaid are called
___________.

(a) Repos
(b) Reverse Repos
(c) Derivatives
(d) None of the above

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14. Which of the following are features of mortgage by way of conditional sale?
I. The sale is ostensible and not real
II. If money is not repaid on agreed date, the sale becomes absolute
III. The mortgagee cannot sue for foreclosure and sale of property
IV. The mortgagee cannot look to other properties of the mortgagor in case the
property proves insufficient.
(a) I, II and IV only
(b) II, III and IV only
(c) I, II and III only
(d) I, II, III and IV

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15. As per the registration act 1908 a registered document operates not
from the date of its ________ but from the date of its ________.
(a) Execution , registration
(b) Registration, Execution
(c) Draft , mortgage
(d) Registry, mortgage

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16. The process by which a person prefers to transfer rights or benefits to
another person is termed as ______ and there can be no transfer of duty,
burden or any detriment without the express agreement of the receiving
person.
(a) Appropriation
(b) Transfer of charge
(c) Assignment
(d) Pledge

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17. The person whose goods are bailed is called _______ and the person
who takes the goods as security is called ______.
(a) Pawnee, Pawnor
(b) Pawnor, Pawnee
(c) Assignor, Assignee
(d) Assignee, Assignor

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18. Which of the following are the rights of the pawnee when the pawnor
makes a default in payment?
I. He may sue the pawnor upon the debt or promise
II. He may retain the pawned goods as collateral security
III. He may sell the goods after giving notice of sale to the pawnor.
(a) I, II only
(b) II, III only
(c) I, III only
(d) I, II, III

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19. Which of the following are advantages of making a pledge?
I. The goods can easily be sold in case of default.
II. The pawnor cannot manipulate the stocks
III. In case of loss of goods due to any reason the banker can recover the
amount under the insurance policy
IV. The formalities of pledge are simpler to that of mortgage.
(a) I, II and III only
(b) I, II and IV only
(c) II, III and IV only
(d) I II, III and IV

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20. A charge created by a company requires to be registered with the
registrar within _____ days of creation.
(a) 30 days
(b) 15 days
(c) 45 days
(d) 60 days

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