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CAIIB BRBL Memory Based Paper PDF

( 24th June 2023)

1. _______ means any person who for consideration became the possessor of a
negotiable instrument, before the amount mentioned in it became payable, and
without having sufficient cause to believe that any defect existed in the title of the
person from whom he derived his title.
a) Holder
b) Holder in due course
c) Drawer
d) Drawee
Ans ( b )
2. As per NI Act, 1881, ‘Payment in due course’ should follow which conditions?
a) Payment must be in accordance with the apparent tenor of the instrument.
b) payment made must be to a legally entitled person in good faith and without
negligence
c) payment must be made only against presentation of the instrument for payment.
d) All of the above
Ans ( d )

3. Which of the following statements is false regarding Attachment Order?

a) Attachment order does not apply to money deposited in the account after receipt
of order
b) When both Garnishee Order and Attachment Order are received simultaneously,
priority should be given to Attachment Order.
c) Attachment Order in single name applies to joint accounts also proportionately
d) In case banker fails to comply with Attachment Order, it will be liable for the
amount of order and deemed as an assesses in default.
Ans ( a )

4. Which of the following statements is false regarding minor accounts?

a) A bank deposit account can be opened by a minor of any age through his/her
natural or legally appointed guardian.

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b) Minors above the age of 10 years may be allowed to open and operate savings
bank accounts independently, if they so desire
c) Minor can open current account after the age of 10 years
d) Minor’s account should not be overdrawn and should always remain in credit.
Ans ( c )

5. Mortgage is defined under which act?

a) Negotiable Instrument Act
b) Transfer of Property Act
c) Indian Contract Act
d) None of the above
Ans ( B )

6. Under ______mortgage, mortgagor ostensibly sells the mortgaged property on the

condition that on default of payment of the mortgage money on a certain date, the sale
shall become absolute.
a) Simple mortgage
b) Mortgage by conditional sale
c) Usufructuary mortgage
d) English mortgage
Ans ( b )
7.________mortgage can be affected only in the towns notified by the State Government.
a) Simple mortgage
b) Equitable mortgage
c) Usufructuary mortgage
d) English mortgage

Ans ( b )
8. The limitation period for filing a suit for sale of mortgaged property is ________, from the
date when the money sued for becomes due.
a) Ten Years
b) Twelve Years
c) Fifteen Years

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d) Thirty Years
Ans (b)
9. What is the current limit for investment in plant and machinery for medium
enterprises as per MSMED Act?
a) Rs. 25 crores
b) Rs. 50 crores
c) Rs. 100 crores
d) Rs. 250 crores
Ans ( b )
10. _________ is a sheet of paper that is attached to a negotiable instrument, such as a bill of
exchange.
a) Pay in slip
b) Allonge
c) Draft
d) None of the above
Ans ( b )
11. SARFAESI Act is applicable to cases where security interest for securing repayment of
any financial asset is more than _______
a) Rs. 1 Lakh
b) Rs. 2 Lakhs
c) Rs. 5 Lakhs
d) Rs. 10 Lakhs
Ans ( a )
12. SARFAESI Act is not applicable on _________.
a) security interest created on residential property
b) security interest created on agricultural land
c) security interest created on commercial property
d) All of the above
Ans ( b )
13. SARFAESI Act is not applicable on _________.
a) security interest created on residential property
b) security interest created on agricultural land
c) security interest created on commercial property

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d) All of the above

Ans ( b )
14. How many parties are there in contract of indemnity?
a) Two
b) Three
c) Five
d) More than five
Ans ( a )
15. Under the Integrated Ombudsman Scheme the ‘Appellate Authority’ would be the
________________.
(a) Governor of RBI
(b) Finance Minister
(c) Deputy Governor, RBI
(d) Executive Director of RBI
Ans ( d )
16. Money if unattended for _________ years is send to DEAF A/c.
(a) Five
(b) Seven
(c) Ten
(d) Fifteen
Ans ( c )
17. Sec. 4 of PMLA stipulates the punishment for money laundering offence, which is
rigorous imprisonment for not less than 3 years but up to ________ years and fine as per
the gravity of the offence.
a) Five
b) Seven
c) Ten
d) Fifteen
Ans ( b )
18. What is the number of presiding officer present in Debt recovery Tribunal?
a) One
b) Three
c) Two

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d) Five
Ans ( a )
19. in order to invoke the jurisdiction of DRT i.e. for filing application, the claim for
recovery of the debt must be Rs. _________and above, including principal and interest.
a) 5 lakhs
b) 10 lakhs
c) 20 lakhs
d) 25 lakhs
Ans ( c )
20. When the defendant against whom the Debt Recovery Tribunal has passed recovery
order wants to prefer appeal to the Appellate Tribunal, he is required to deposit _____of
the amount determined by the Tribunal.
a) 10%
b) 20%
c) 25%
d) 50%
Ans ( d )
21. As per Section 18 of the SARFAESI Act, any person aggrieved, by any order made by the
DRT, may prefer an appeal within _____________to an appellate Tribunal (DRAT) from the
date of receipt of the order of DRT.
a) 15 days
b) 30 days
c) 60 days
d) 90 days
Ans ( b )
22. The Limitation Act applies or the DRT cases which means bank has to normally file
the recovery application within ______years of the cause of the action.
a) Two
b) Three
c) Five
d) Ten
Ans ( b )
23. Deposit Insurance and Credit Guarantee Corporation (DICGC) is administered by
_______

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a) RBI
b) SEBI
c) IRDAI
d) NABARD
Ans ( a )
24. __________can convert a bearer cheque into an order cheque.
a) Drawer
b) Drawee
c) Payee
d) Holder
Ans ( a )
25. To constitute a valid pledge, there must be _______
(a) a contract in relation to an identified chattel to be delivered to the pledgee as
security
(b) actual delivery of possession of the identified chattel in pursuance of the contract.
(c) Both the above
(d) None of the above
Ans ( c )
26. Which one of the following is essential for a valid contract of agency?
(a) The agent need not have capacity to contract
(b) The principal should have capacity to contract
(c) Consideration is a must for appointing an agent
(d) All the above
Ans ( b )
27. When any bank or financial institution obtains a charge against property, with which
authority will the transaction have to be registered under the SARFAESI Act, 2002?
(a) With the Central Registry.
(b) With the ROC
(c) With the Registrar of Assurances within whose jurisdiction the property lies.
(d) With the Reserve Bank of India.
Ans ( a )
28. The minimum number of ‘designated partners’ in a LLP is ________

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a) 2
b) 3
c) 5
d) 7
Ans ( a )
29. Right to Information means the right to
(a) Inspection of work, documents and records
(b) Taking notes, extracts, or certified copies of documents or records
(c) Taking certified samples of materials
(d) All the above and obtaining information in the form of diskettes, floppies, etc., of
information stored in a computer or in any other device.

Ans ( d )
30. The Central Information Commission has the power to impose a penalty of two
hundred and fifty rupees for each day till the information is furnished subject to a
maximum of _______.
a) twenty thousand rupees.
b) twenty-five thousand rupees.
c) fifty thousand rupees.
d) seventy thousand rupees.
Ans ( b )
31. Which one of the following is the Appellate Tribunal under the Information
Technology Act 2000?
(a) The Telecom Disputes Settlement and Appellate Tribunal
(b) Cyber Regulations Appellate Tribunal.
(c) Securities Appellate Tribunal
(d) Information Technology Tribunal
Ans ( a )
32. The committee of creditors, may, in the first meeting, by a majority vote of not less
than _____of the voting share of the financial creditors, either resolve to appoint the
interim resolution professional as a resolution professional or to replace the interim
resolution professional by another resolution professional.
a) 33%
b) 60%

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c) 66%
d) 75%
Ans ( c )
33. Under the code the entire resolution process is required to be completed in 180 days
but may be extended for valid reasons for a maximum of _____days.
a) 250
b) 330
c) 420
d) 365
Ans ( b )
34. Under the IBC 2016, which one of the following persons/entities is entitled to make
an application to initiate the corporate insolvency resolution process?
(a) A corporate debtor already undergoing corporate insolvency resolution process.
(b) A corporate debtor in respect of whom a liquidation order has been made
(c) A financial creditor of a corporate debtor, undergoing a pre-packaged insolvency
resolution process
(d) None of the above
Ans ( d )
35. Presently, the monetary ceiling of amounts for settlement through Lok Adalat is Rs.
________
a) 10 Lakhs
b) 15 lakhs
c) 20 lakhs
d) 50 lakhs
Ans ( c )
36. the State Commission shall have jurisdiction to entertain complaints where the value
of the goods or services paid as consideration exceeds fifty lakh but does not exceed Rs.
_________.
a) 75 lakhs
b) 1 crore
c) 2 crores
d) 5 crores
Ans ( c )

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37. The District Commission, the State Commission or the National Commission shall not
admit a complaint unless it is filed within ________ from the date on which the cause of
action has arisen.
a) One year
b) Two years
c) Three years
d) Five years
Ans ( b )
38. The limitation period for filing suit for foreclosure is ______ from the date the money
secured by mortgage becomes due.
a) 10 years
b) 12 years
c) 15 years
d) 30 years
Ans ( d )
39. A guarantee which extends to a series of transactions is known as a _________ guarantee.
a) Continuing
b) Invalid
c) Irrevocable
d) general
Ans ( a )
40. Which among the following is not one of the pillars of IBC 2016?
a) Insolvency Professionals
b) Information Exchange
c) Adjudicating Authorities
d) The Insolvency and Bankruptcy Board of India (IBBI)
Ans ( b )
41. Which statement is true regarding NBFC-MFI?
a) It is registered with the RBI and having an asset size of Rs. 500 crore
b) Minimum Net Owned Funds of Rs. 5 crore.
c) Not less than 75 per cent of its total assets are in the nature of “microfinance
loans”
d) All of the above

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Ans ( d )
42. Which statement is true regarding NBFC-IFC?
a) It is registered with the RBI and having an asset size of Rs. 500 crore
b) a minimum of 75 per cent of its total assets deployed in “infrastructure loans”
c) Net owned funds of Rs. 300 crore or above
d) All of the above
Ans ( d )
43. Reserve Bank has specified ________ as the net owned fund (NOF) required for a non-
banking financial company to commence or carry on the business of non-banking
financial institution.
a) Rs. 1 crore
b) Rs. 2 crores
c) Rs. 3 crores
d) Rs. 5 crores
Ans ( b )
44. As per revised scale based regulatory structure, the Base Layer would comprise Non-
deposit taking NBFCs below the asset size of _______
a) Rs. 100 crores
b) Rs. 250 crores
c) Rs. 500 crores
d) Rs. 1000 crores
Ans ( d )
45. The extant credit concentration limits prescribed for NBFCs separately for lending
and investments shall be merged into a single exposure limit of ________for single
borrower/ party.
a) 15%
b) 20%
c) 25%
d) 40%
Ans ( c )
46. Registration of NBFCs is mandatory under which statute?
(a) The Banking Regulation Act, 1949
(b) The Reserve Bank of India Act,1934
(c) The Companies Act, 1956

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(d) The Banking Companies (Acquisition and Transfer) of Undertakings Act 1970
Ans ( b )

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