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Saturday, July 14, 2018

IIBF JAIIB SAMPLE QUESTIONS


1. What does execution of document signify?      Marks:   2+ 0.5-
    It must be properly executed as per the specimen signatures recorded with the bank.
    It should be properly stamped.
    It should be registered, if required.
    All the above.
The Correct Answer is :     All the above.
2. Documentation is necessary because of :      Marks:   2+ 0.5-
    It helps to identify/specify the borrower.
    It helps to identify security.
    It works as a written evidence.
    All the above.
The Correct Answer is :     All the above.

3. Which of the following is not relevant to documentation?      Marks:   2+ 0.5-
    It is an evidence of creating a change over the security.
    It can recognize forget transactions.
    It provides a right to the Bank of file a summary suit.
    It defines rights and obligations of the parties thereto.
The Correct Answer is :     It can recognize forget transactions.
4. The requirement of execution of documents depends on:      Marks:   2+ 0.5-
    Nature of credit facility.
    Nature of security of loan.
    Constitution of business.
    All the above.
The Correct Answer is :     All the above.
5. The security documents can be by way of :      Marks:   2+ 0.5-
    Personal Security.
    Primary Security.
    Collateral Security.
    Any or all the above.
The Correct Answer is :     Any or all the above.
6. Which of the following one stamps where documents are required to be stamped?
    Adhesive Revenue Stamp.
    Special Adhesive/Embossed stamp.
    Bill of Exchange Stamps.
    All the aboe.
The Correct Answer is :     All the aboe.
7. The Adhesive Revenue Stamps are affected on :      Marks:   2+ 0.5-
    Demand Promissory Notes.
    Acknowledgements.
    Balance Confirmation, Receipts.
    All the above.
The Correct Answer is :     All the above.
8. Special Adhesive/Embossed Stamps are used in :      Marks:   2+ 0.5-
    Hypothecation Agreement.
    Pledge Agreement
    Letter of Guarantee.
    All the above.
The Correct Answer is :     All the above.
9. In which of the following documents the limitation period is 3 years?      Marks:   2+
    Demand Pronote from the date of DP note.
    Overdrafts - from the date of advances.
    Term Loan - from the date of default in payment of each instalment.
    All the above.
The Correct Answer is :     All the above.
10. Which of the following statements, is not correct regarding law of limitation in case of mortgage loan?      Marks:   2+ 0.5-
12 years from the date the money is due if money is to be recovered by sale of mortgaged property.
    3 years from the date the money is due for payment if borrower is made personally liable.
    30 years when the right to redeem or recover possession of immovable property.
    All the above.
The Correct Answer is :     All the above.
11. Which of the following statements, is correct?      Marks:   2+ 0.5-
    There is no period of limitation for sale of pledged goods.
    In case of Hypothecation the limitation period is 3 years from the date of loan.
    Bill of exchange has 3 years limitation period from the due date.
    All the above.
The Correct Answer is :     All the above.
12. Extension of limitation period can be way of      Marks:   2+ 0.5-
    obtaining fresh set of documents.
    Acknowledgement of debt
    Part payment
    All the above.
The Correct Answer is :     All the above.
13. the process of providing documents to police or CBI is :      Marks:   2+ 0.5-
    They may seize a document set for investigation in case of fraud.
    They may be given certified Xerox copy.
    If they insist for original Xerox copy should be retained with the bank.
    All the above.
The Correct Answer is :     All the above.
14. Which of the following are the important cash Books being maintained by the Bank?      Marks:   2+ 0.5-
    Cash Received the Payment Book.
    Sectional Cash Book.
    Cash Balance Book.
    All the above.
The Correct Answer is :     All the above.
15. Which of the following can be proved in the court of Law according to Bankers Books Evidence Act?      Marks:   2+ 0.5-
    Existence of a document.
    Condition of a document.
    Contents of a document
    All the above.
The Correct Answer is :     All the above.
16. Which of the following statements, is correct regarding the provisions of Bankers Book Evidence act?      Marks:   2+ 0.5-
    Entries in Books of Accounts regularly kept in the course of Business are relevant in the matter of court inquiry.
    However, above statements shall not be alone be sufficient evidence to cheque any person with liability.
    The entries in the books can be used as corroborative evidence,
    All the above.
The Correct Answer is :     All the above.
17. In which year the Bankers Books Evidence Act was enacted?      Marks:   2+ 0.5-
    1891
    1906
    1934
    1947.
The Correct Answer is :     1891
18. Which of the following statements, is correct regarding the Bankers Books Evidence act?      Marks:   2+ 0.5-
    It is a special Act which provides certain privileges to Banks.
    The Act deals in connection with mode of proving of entries in their Books.
    The act also have provision regarding production of Books in the court of Law.
    All the above.
The Correct Answer is :     The Act deals in connection with mode of proving of entries in their Books.
19. Which of the following are the essential features of Law of Evidence?      Marks:   2+
    The conditions and contents of a document can be proved before a court only by producing original document.
    So long original documents rae available, a copy can not be produced.
    However there are certain exceptions to the Law.
    All the above.
The Correct Answer is :     All the above.
20. What are the exceptions of Evidence Act?      Marks:   2+ 0.5-
    a certified copy of the original document can be produced in the court of Law if it is permitted by any law.
    The Bankers Books Evidence act. Is also an exception to the Evidence Act.
    Both (a) and (b).
    None of the above.
The Correct Answer is :     Both (a) and (b).
21. Which of the following is included in the Bankers Book?      Marks:   2+ 0.5-
    Ledger and Day Books.
    Cash Books and Account Books.
    All other Books used in the ordinary business of a Bank.
    All the above.
The Correct Answer is :     All the above.
22. What is a certified copy?      Marks:   2+ 0.5-
    A copy of any entry in the Books of a Bank alongwith a certificate that copy is a True Copy.
    That such entry is contained in one of the Books of the Bank.
    And such Books are still under the custody of the Bank.
    A copy which includes all the above information.
The Correct Answer is :     A copy which includes all the above information.
23. Which of the following statements, is not correct regarding Bankers Books Evidence Act?      Marks:   2+ 0.5-
    The certificate issued by Bank should have signatures of the authorized person and it should be dated.
    It should be supported by original document.
    The certified copy will be original document.
    The Bank will ensure the accuracy of the copy.
The Correct Answer is :     It should be supported by original document.
24. Which of the following statements, is correct regarding Bankers Books Evidence Act?      Marks:   2+ 0.5-
    No officer of a Bank can be compelled to produce any Bankers Books unless it is specially ordered by the court.
    The above provision (a) applies only when the Bank is not a party to the case.
    An investigating Police officer can compel a Bank officer to produce the Book without court order.
    All the above.
The Correct Answer is :     All the above.
25. Legal proceeding under Bankers Books Evidence Act, signifies:      Marks:   2+ 0.5-
    any proceeding or inquiry in which evidence is given
    an arbitration]
    any investigation under the code of Criminal Procedure, 1973.
    All the above.
The Correct Answer is :     All the above.
26. What are the powers of the court in case of legal proceedings under the Bankers Books Evidence act?      Marks:   2+ 0.5-
    permit the affected party to inspect the Books and take copies.
    Order the Bank to prepare the produce within specified time the certified copies/
    Order the Bank to prepare certificates as desired under the Law.
    All the above.
The Correct Answer is :     All the above.
27. In how many days a Bank is required to comply with court orders under Bankers Books evidence act?      Marks:   2+ 0.5-
    3 days excluding Bank holidays.
    7 days excluding Bank holidays.
    10 days excluding Bank holidays.
    15 days excluding Bank holidays.
The Correct Answer is :     3 days excluding Bank holidays.
28. According to section 3 of Evidence Act, the Document can be defined:      Marks:   2+
    Any matter expressed or described upon any substance by means of letter, figure or marks.
    Or by any other means.
    It intends to be used for prupose of recording that matter.
    All the above.
The Correct Answer is :     All the above.
29. Evidence means:      Marks:   2+ 0.5-
    All statements presented before a court by way of witnesses.
    It is in relation to a matter of fact under inquiry.
    Such statements are called oral evidence.
    All the above
The Correct Answer is :     All the above
30. Which of the following statements, is correct?      Marks:   2+ 0.5-
    All documents produced for inspection of court are called documentary evidence.
    Primary Document mean original document itself.
    Certified copies are secondary evidences.
    All the above.
The Correct Answer is :     All the above.
31. Which was the first committee recommended for establishment of special Recovery tribunals for Books and Financial Institution?      Marks:   2+ 0.5-
    Tiwari committee.
    Ojha Committee.
    Narasimham Committee.
    Rangrajan Committee.
The Correct Answer is :     Tiwari committee.
32. In which year the tiwari Committee recommended for establishment of Special tribunals for Banks dues recovery?      Marks:   2+ 0.5-
    1981
    1987
    1991
    1995.
The Correct Answer is :     1981
33. Which of the following committees also recommended the set up of Debit Recovery Tribunals?      Marks:   2+ 0.5-
    Committee on Financial Sector Reforms.
    Committee on Custom Service.
    Committee on RRBs.
    None of the above.
The Correct Answer is :     Committee on Financial Sector Reforms.
34. In which year the Recovery of Debts Due to Banks and Financial Institutions Act. Was enacted?      Marks:   2+ 0.5-
    1991
    1993
    1994
    1995.
The Correct Answer is :     1993
35. In which of the following states the Recovery of Debts due Act is under implementation?      Marks:   2+ 0.5-
    Selected States of the Country.
    All the state of Country.
    All over the country except Jammu & Kashmir.
    No such restriction.
The Correct Answer is :     All over the country except Jammu & Kashmir.
36. Which of the following cases to the Recovery of Debts due Act, is applicable?
    Where amount involved is less than Rs. 10 lac.
    Where amount involved is Rs. 10 lac or above.
    Whre amount involved is upto Rs. 11 lac.
    No such restriction.
The Correct Answer is :     Where amount involved is Rs. 10 lac or above.
37. The central government has powers to authorize Tribunals to hear cases where amount involved is less than Rs. 10 lac but more than:      Marks:   2+ 0.5-
    Rs. 1 lac.
    Rs. 2 lac
    Rs. 5 lac.
    Rs. 7 lac.
The Correct Answer is :     Rs. 1 lac.
38. What central government has powers to authorize Tribunals to hear cases where amount involved is less than rs. 10 lac but more than ;      Marks:   2+ 0.5-
    To transfer all the cases of Bank recovery from civil court to the tribunals.
    To set up an exclusive agency for Bank recovery.
    To set up Special Tribunal which can provide speedy court remedies.
    All the above.
The Correct Answer is :     To set up Special Tribunal which can provide speedy court remedies.
39. What are the various modes available to the Recovery officer for proceeding to recover the amount of debt?      Marks:   2+ 0.5-
    Attachment or sale of movable or immovable property.
    Arrest the defendant or detention in jail.
    Appointing a Receiver for the management of the movable or immovable
    All the above.
The Correct Answer is :     All the above.
40. How may Debt Recover tribunals have been set up in India?      Marks:   2+ 0.5-
    27.
    28
    29
    50
The Correct Answer is :     29
41. What is the jurisdiction area of a Debt Recovery Tribunal?      Marks:   2+ 0.5-
    Each state.
    One or more states/Union Territories
    Throughout the country.
    No such criteria.
The Correct Answer is :     One or more states/Union Territories
42. In which places an appeal against the orders of Debts Recovery office can be field?      Marks:   2+ 0.5-
    Appellate Tribunal.
    High Court.
    District Court.
    Appeal can not be filed.
The Correct Answer is :     Appellate Tribunal.
43. Where is the Appellate Tribunals is located?      Marks:   2+ 0.5-
    Thrivanthpuram.
    Mumbai
    East State Head Quarter.
    None of these.
The Correct Answer is :     Mumbai
44. What is the fee payable upto a loan amount of Rs. 10 lac.      Marks:   2+ 0.5-
    Rs. 10,000
    Rs. 12,000
    Rs. 1,50,000.
    Rs. 20,000.
The Correct Answer is :     Rs. 12,000
45. What is the fee payable for the Debt amount above Rs. 10 lac?      Marks:   2+ 0.5-
    Rs. 1000 for every Rs. 1 lac and part thereof.
    Rs. 1200 for every Rs. 1 lac and part thereof.
    Rs. 1500 for every Rs. 1 lac and part thereof.
    Rs. 2000 for every Rs. 1 lac and part thereof.
The Correct Answer is :     Rs. 1000 for every Rs. 1 lac and part thereof.
46. What is the maximum amount of fee payable for filing a Recovery case with the Debt Recovery Tribunal?      Marks:   2+ 0.5-
    Rs. 1 lac.
    Rs. 1,20,000
    Rs. 1,50,000
    12% of the Debt amount.
The Correct Answer is :     Rs. 1,50,000
47. How much is the fee payable if a suit is transferred to Debts Recovery Tribunal from a court?      Marks:   2+ 0.5-
    Rs. 1,00,000.
    Rs. 1,50,000.
    80% of the debt amount.
    No such fee is payable.
The Correct Answer is :     No such fee is payable.
48. In how many days the DRT should summons to the defendant to show cause?
    Within 7 days.
    Within 10 days.
    Within 30 days.
    Within 60 days.
The Correct Answer is :     Within 30 days.
49. What is the time limit for DRT to complete the process?      Marks:   2+ 0.5-
    Within 6 months.
    Within 9 months.
    Within 12 months.
    No such limit.
The Correct Answer is :     Within 6 months.
50. Who issues Certificate of Recovery for recovery of debts?      Marks:   2+ 0.5-
    Recovery Officer.
    Presiding Officer.
    Bank Manager.
    Appellate Authority.
The Correct Answer is :     Presiding Officer.
51. Who is mainly responsible for recovery of debt in the DRT?      Marks:   2+ 0.5-
    Recovery Officer.
    Presiding Officer.
    Income tax Officer.
    Suprintendent of Police.
The Correct Answer is :     Recovery Officer.
52. What is the time limit to file a Memorandum of Appeal with Debt Recovery Appellate Tribunal?      Marks:   2+ 0.5-
    With in 15 days from the date of Receipt of DRT order.
    With in 30 days from the date of Receipt of DRT order.
    With in 45 days from the date of Receipt of DRT order.
    With in 60 days from the date of Receipt of DRT order.
The Correct Answer is :     With in 45 days from the date of Receipt of DRT order.
53. Which of the following statements, is correct regarding filing an appeal with debt Recovery Appellate Authority?      Marks:   2+ 0.5-
    An appeal can be made with Appellate Authority against the order of DRT.
    Appeal can be filed with requisite fee.
    The debtor has to deposit a specified amount of the debt with the Appellate
    All the above.
The Correct Answer is :     All the above.
54. How much amount the Debtor has to deposit with the Appellate Authority while filing an appeal against the DRT orders?      Marks:   2+ 0.5-
    10% of Debt as mentioned in order of DRT.
    25% of Debt as mentioned in order of DRT.
    50% of Debt as mentioned in order of DRT.
    75% of Debt as mentioned in order of dRT.
The Correct Answer is :     75% of Debt as mentioned in order of dRT.
55. What is the time limit for disposing an appeal by Appellate Authority ?
    Within 2 months.
    Within 3 months.
    Within 6 months.
    No such limit.
The Correct Answer is :     Within 6 months.
56. How many Debt Recovery Appellate Tribunals have been set up?      Marks:   2+ 0.5-
    2
    5
    7
    10
The Correct Answer is :     5
57. Where an appeal against the order of Appellate Tribunal can be made?
    No where.
    High Court.
    Supreme Court.
    Concerned District Court.
The Correct Answer is :     High Court.
58. Which of the following reasons prompted for set up of Debt Recovery Tribunal?
    Under delay in setting the claims by courts.
    Delay in extension the decree.
    Non-availability of Assets with the borrower due to inordinate delay in courts.
    All the aboe.
The Correct Answer is :     All the aboe.
59. Which of the following dates the DRT Act, 1993 was implemented?      Marks:   2+ 0.5-
    24.06.1963
    27.08.1993
    30.09.1993
    30.09.1993
The Correct Answer is :     27.08.1993
60. Which of the following High Courts rejected implementation of DRT act, 1993 in its State in 1995?      Marks:   2+ 0.5-
    Delhi High Court.
    Allahabad High Court.
    Japan High Court.
    Mumbai High Court.
The Correct Answer is :     Delhi High Court.
61. The Presiding officer of DRT is appointed by :      Marks:   2+ 0.5-
    Reserve Bank of India.
    Supreme Court.
    Central Government
    High Court.
The Correct Answer is :     Central Government
62. What is the tenure of Presiding officer?      Marks:   2+ 0.5-
    1 year.
    3 years.
    5 years.
    No such limit.
The Correct Answer is :     3 years.
63. Which of the following organization are not eligible to avail the benefits of DRT Act, 1993.      Marks:   2+ 0.5-
    Commercial Banks.
    Financial Institutions.
    Non-Banking Financial Institutions.
    All these.
The Correct Answer is :     Non-Banking Financial Institutions.
64. Which of the following debts is not considered for Recovery by Debt Recovery Tribunal?      Marks:   2+ 0.5-
    Debts due to Staff of the Bank.
    Debts due to Small Industries.
    Debts due to Professional and self-employed persons.
    Any other debts of commercial nature.
The Correct Answer is :     Debts due to Staff of the Bank.
65. Which of the following modes can be used for filing a case with DRT?      Marks:   2+
    Personally by Representative of a Bank or the Bank Advocate.
    Application can be sent through Registered Post.
    (a) or (b).
    None of the above.
The Correct Answer is :     (a) or (b).
66. In which of the following Tribunals, a case for recovery under DRT Act, can be filled?      Marks:   2+ 0.5-
    Any of the Tribunals in India.
    Only in the Tribunal in whose jurisdiction the Bank of Financial Onstitution is working.
    Only in the Tribunal in whose jurisdiction the Bank of Financial Onstitution is working.
    Any of the above.
The Correct Answer is :     Only in the Tribunal in whose jurisdiction the Bank of Financial Onstitution is working.
67. Which of the following are the enclosures to the enclosed with the recovery application to the filed with DRT?      Marks:   2+ 0.5-
    Prescribed Fee.
    Paper Book.
    Particulars of Assets financed through loans.
    All the above.
The Correct Answer is :     All the above.
68. What are the enclosures to Paper Book to be submitted with recovery application to DRT?      Marks:   2+ 0.5-
    Statement of loan account.
    Purpose and circumstances under which loan was disbursed.
    Reasons for default.
    All the above.
The Correct Answer is :     All the above.
69. Which of the following is not an enclosure to the paper Book which is enclosed to the application with DRT?      Marks:   2+ 0.5-
    All the documents based on which the claim is formed.
    Details of payment of Fee.
    Application of the Borrower.
    Affidavit of the Advocate if the case is filed through the Advocate.,
The Correct Answer is :     Application of the Borrower.
70. Which of the following is correct regarding filing a recovery case with DRT?
    The application for recovery should be filed in 4 copies.
    The loan documents should not be time barred at the time of filing a case.
    The Recovery officer has powers like an Income Tax officer.
    All the above.
The Correct Answer is :     All the above.
71. Which of the following can be part of interim order of DRT?      Marks:   2+ 0.5-
    Injuention.
    Stay
    Attachment.
    Any of the above.
The Correct Answer is :     Any of the above.
72. The interim order of DRT can debar the Borrower from:      Marks:   2+ 0.5-
    transferring any property or Assets belonging to him.
    Alienating any property or Assets belonging to him.
    Disposing of any property or Assets belonging to him.
    Any or all of the above.
The Correct Answer is :     Any or all of the above.
73. Which of the following is not the power of DRT?      Marks:   2+ 0.5-
    Presenting a Borrower to submit an appeal against the orders of DRT.
    Management, protection and Improvement of property attached.
    Collection of Rent and Profits on the attached property.
    Distribution of the realization proceeds among secured creditors.
The Correct Answer is :     Presenting a Borrower to submit an appeal against the orders of DRT.
74. What is Lok Adalat?      Marks:   2+ 0.5-
    It is an easy process of Settlement of Bank dues.
    Small loans upto a specified amount can be settled through Lok Adalat.
    It is a process of mutual settlement.
    All the above.
The Correct Answer is :     All the above.
75. Which of the following are the features of Lok Adalat?      Marks:   2+ 0.5-
    Lok Adalat meets on a specified day once a month.
    The Bank and Borrower can have mutual settlement of their own or through
    The competent officer of a Bank can present himself in the process.
    All the above.
The Correct Answer is :     All the above.
76. What are the advantages of Lok Adalat?      Marks:   2+ 0.5-
    Minimum Fee.
    Easy and fast Process.
    Facility of write offs.
    All these.
The Correct Answer is :     All these.
77. A Bank officer of the following rank can refer the cases to Lok Adalat:      Marks:   2+
    Scale II
    Scale III
    Scale IV
    Scale v.
The Correct Answer is :     Scale IV
78. The Scale III officers can participate in Lok Adalat proceedings and may arrive at the compromise where write off amount does not exceed:      Marks:   2+ 0.5-
    Rs. 2,500
    Rs. 5,000
    Rs. 10,000
    Rs. 12.500.
The Correct Answer is :     Rs. 2,500
79. The decision of the Scale III Bank official in write off the liability will have to be approved by:      Marks:   2+ 0.5-
    Chairman
    General Manager
    Zonal Manager
    No ratification is required.
The Correct Answer is :     Zonal Manager
80. Which of the following Committee recommended a separate Act, for Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act?      Marks:   2+ 0.5-
    Rengrajan Commottee.
    T.R. Andhyarjuna Committee.
    Narasimham Committee.
    Nayak Committee.
The Correct Answer is :     T.R. Andhyarjuna Committee.
81. SARFAESI Act, 2002 was made effective on:      Marks:   2+ 0.5-
    21.06.2002.
    01.06.2002.
    01.04.2002.
    15.03.2002.
The Correct Answer is :     21.06.2002.
82. What are the main features of SARFAESI Act, 2002?      Marks:   2+ 0.5-
    To put a legal system for securitization.
    Empowering banks and financial institutions to take possession of the mortagaged securities.
    To sell the securities without intervention of court.
    All the above.
The Correct Answer is :     All the above.
83. What are the main issues with which SARFAESI Act, 2002 deals with?      Marks:   2+
    Securitisation of Assets.
    Setting up of an Assets Reconstruction Company.
    Enforcement of securities.
    All the above.
The Correct Answer is :     All the above.
84. The essential features of securitization are:      Marks:   2+ 0.5-
    Acquisition of Financial Assets by a Securitisation or Reconstruction Company.
    The Assets may be NPA or standard.
    On sale the Assets goes out of the Books of the originator.
    All the above.
The Correct Answer is :     All the above.
85. What are the main functions of Assets Reconstruction Company?      Marks:   2+ 0.5-
    Setting up of a company.
    Acquiring Assets for Reconstruction.
    Acquire Assets for Asset Reconstruction.
    All the above.
The Correct Answer is :     All the above.
86. Which of the following is not a function of Asset Reconstruction Company?
    To acquire pending recovery cases from DRT.
    Act as an Agent for Recover.
    Act as Manager.
    Act as Receiver of Court/Tribunal.
The Correct Answer is :     To acquire pending recovery cases from DRT.
87. The important features of Enforcement of Securities are:      Marks:   2+ 0.5-
    take possession of the Secured Assets.
    Take over management of Secured Assets.
    To acquire pending recovery cases from DRT.
    Act as an Agent for Recover.
The Correct Answer is :     Act as an Agent for Recover.
88. The important features of Enforcement of Securities are:      Marks:   2+ 0.5-
    take possession of the Secured Assets.
    Take over management of Secured Assets.
    Recover dues from the debtors of the borrower
    All the above.
The Correct Answer is :     All the above.
89. In which of the following Acts. The provisions of Mortgage of an Asset are dealt with?      Marks:   2+ 0.5-
    Transfer of Property Act.
    Sale of Goods Act.
    Negotiable Instrument Act.
    Indian Company Law.
The Correct Answer is :     Transfer of Property Act.
90. The bank can enforce the security after giving notice and if Borrower does not repay within:      Marks:   2+ 0.5-
    30 days.
    60 days.
    75 days.
    90 days.
The Correct Answer is :     60 days.
91. The power of enforcement of security are available to:      Marks:   2+ 0.5-
    Banking Companies
    Public Financial Institutions
    Non-Banking Financial companies
    (a) and (b).
The Correct Answer is :     (a) and (b).
92. What are the Rights available to a secured creditor?      Marks:   2+ 0.5-
    To sell the Assets.
    File application with DRT for recovery of full or remaining dues.
    To proceed against the guarantor.
    All the above.
The Correct Answer is :     All the above.
93. Which of the following statements, is correct regarding securitization of Asset?
    Bank can take possession of Asset and sale itself or it can hand over to Reconstruction company.
    Securitised company get all the Rights of secured creditor.
    All the above.
The Correct Answer is :     
94. Which of the following is correct?      Marks:   2+ 0.5-
    The borrower can file an appeal with the DRT only after the secured creditor takes possession of Asset.
    Borrower can not file an appeal in the Civil Court.
    Writ petition can be filed in the High Court at any time.
    All the above.
The Correct Answer is :     All the above.
95. Which of the following statements, is not correct?      Marks:   2+ 0.5-
    the secured creditor has all the Judicial powers.
    The Borrower can get the possession of Asset back if he succeeds in DRT.
    The protection of SICA will not be available once the secured creditor takes steps
    The Borrower can get compensation from the secured creditor if he succeeds in appeal in DRT.
The Correct Answer is :     the secured creditor has all the Judicial powers.
96. Which of the following provisions are correct regarding securitisatin?      Marks:   2+
    performing Assets can be securitized.
    Non-performing assets can also be securitized.
    A securitization company can also act as Asset Re-construction Company and vice-versa.
    All the above.
The Correct Answer is :     All the above.
97. Which of the following are the requirements of a securitized company?
    It should be an independent company.
    It should be registered with RBI.
    It will be a public financial institution.
    All the above.
The Correct Answer is :     All the above.
98. Which of the following statements, is correct?      Marks:   2+ 0.5-
    Securitisation company can acquire only financial assets.
    The difference between securitization and factoring is that in factoring only existing Receivables can be acquired while in securitistion even future Receivables can be acquired.
    The purpose of Securitisation is to avoid mismatch between Assets and Liabilities.
    All the above.
The Correct Answer is :     All the above.
99. The securitization Company can acquire financial assets from Banks in the following manner:      Marks:   2+ 0.5-
    by issuing Debenture or Bonds.
    By entering into an arrangement with the Bank/Financial Insitution.
    a) or (b)
    (a) and (b).
The Correct Answer is :     a) or (b)
100. What is the role of qualified Institution Buyers in the securitization process?
    The qualified investors would invest in the Financial Asset Scheme.
    The securitized company issues Security Receipts to qualified investors.
    The security receipt represents undivided interest in the Financial Asset.
    The securitized company will realize Financial Assets and redeem the investment.
The Correct Answer is :     The qualified investors would invest in the Financial Asset Scheme.
101. Which of the following statements, is correct?      Marks:   2+ 0.5-
    the qualified investors would be paid out of the realization of Financial Assets.
    Any dispute between Bank securitization company and qualified institutional investors would be settled through arbitration.
    The lending company sells its loans to the investors through special purpose vehicle.
    All the above.
The Correct Answer is :     All the above.
102. What are the features of asset Reconstruction?      Marks:   2+ 0.5-
    The Right or interest of any Bank is acquired for the purpose of realization of such assets.
    Non-performing assets alone can be acquired for asset re-construction.
    The assets can be acquired by the Asset Reconstruction Company by issuing Debentures and Bonds or entering into an arrangement with the Bank.
    All the above.
The Correct Answer is :     All the above.
103. Under what circumstances security can not be enforced?      Marks:   2+ 0.5-
    If it is an Agriculture Land.
    When the amount due is less than Rs. One lac.
    When the Borrower has repaid more than 80% of principle and interest.
    All the above.
The Correct Answer is :     All the above.
104. Security interest means:      Marks:   2+ 0.5-
    Right, title and interest of any kind upon property.
    Created in favour of any secured creditor.
    This includes mortgage, hypothecation and assignment.
    All the above.
The Correct Answer is :     All the above.
105. When an action for enforcement of security can be initiated?      Marks:   2+ 0.5-
    When a Borrower is under the liability of secured creditor.
    Borrower makes a default in payment of principal and interest.
    The loan account is classified as Non-performing Asset (NPA).
    All the above.
The Correct Answer is :     All the above.
106. What is a Non-performing Asset:      Marks:   2+ 0.5-
    Where payment of interest or principal or both is in arrears for more than 180 dyas.
    Where loan account is in default for 90 days and above.
    Where loan account is classified as sub-standard doubtful or loss Asset by the Bank as per the directions of RBI.
    Non of the above.
The Correct Answer is :     Where loan account is classified as sub-standard doubtful or loss Asset by the Bank as per the directions of RBI.
107. Which of the following are the requirements for finding a notice?      Marks:   2+ 0.5-
    It must be in writing giving a borrower time of 60 days to discharge the liability.
    It must specify that secured creditor has right to exercise any action over the assets.
    It must give details of amount payable by the borrower and the secured assets intended to the enforced.
    All the above.
The Correct Answer is :     All the above.
108. which of the following a notice must specify in case of foreclosed loans?
    It should cover entire loan liability including instalments not due.
    It should cover entire loan liability including instalments not due.
    It must mention future interest payable till the date of repayment.
    All the aboe.
The Correct Answer is :     All the aboe.
109. Which of the following are the provisions for joint secured creditors?      Marks:   2+
    Individual secured creditors can not take any action unless such right is agreed upon.
    Decision will be taken jointly by secured creditors having 75 per cent of liability.
    The decision take as above.(b) will be binding in all the remaining secured creditors.
    All the above.
The Correct Answer is :     All the above.
110. How the amount received from sale of secured assets would be applied?
    Payment of cash, changes incurred in taking over the assets and maintaining it.
    Discharge of due of secured creditor.
    The remaining amount will be paid to the borrower entitled.
    In the above manner (a), (b) and (c).
The Correct Answer is :     In the above manner (a), (b) and (c).
111. Which of the following statements, is correct?      Marks:   2+ 0.5-
    Secured creditor may file a case with DRT for the remaining unrealise amount.
    No suit can be filed against the secured creditor if it has acted in good faith.
    Action against the secured creditor can be taken only of malafied is alleged and established.
    All the above.
The Correct Answer is :     All the above.
112. Whose assistance can be taken for taking over assets if the borrower resists giving possession of the asset?      Marks:   2+ 0.5-
    Chief Metropolitam Magistrate.
    District Magistrate.
    (a) or (b)
    Superintendent of police.
The Correct Answer is :     (a) or (b)
113. Which of the following statements, is correct?      Marks:   2+ 0.5-
    the secured creditor can take possession of Asset 60 days after giving notice.
    The Asset can be sold or transferred.
    It is mendatory for District Magistrate to take possession of Asset once written request is received from secured creditor.
    All the above.
The Correct Answer is :     All the above.
114. What is the procedure of acquiring a secured movable Asset?      Marks:   2+ 0.5-
    The authorized officer of secured creditor shall prepare a panchnama.
    The panchnama should be witnessed by two persons.
    If the property is subject to natural decay, the authorized person may sell it at once.
    All the above.
The Correct Answer is :     All the above.
115. What is process of valuation of movable secured Assets?      Marks:   2+ 0.5-
    The authorized officer shall obtain estimated value of asset.
    Officer can fixed reserve price of Asset to be sold.
    The borrower need not be involved in the process of valuation.
    ll the above.
The Correct Answer is :     ll the above.
116. The movable Asset can be sold:      Marks:   2+ 0.5-
    obtaining quotations from interested buyers.
    Inviting tenders
    Holding public action
    Any of the above.
The Correct Answer is :     Any of the above.
117. How many days notice is required to be given to borrower for sale of movable secured Asset?      Marks:   2+ 0.5-
    30 days
    15 days.
    7 days.
    3 day.
The Correct Answer is :     30 days
118. Which of the following are the steps for taking over immovable secured Asset?
    The authorized person shall take possession by delivering possession notice to the Borrower.
    A copy of the possession notice shall be affixed on the outdoor of the property.
    The possession receipt is also required to be published in two leading newspapers locally.
    All the above.
The Correct Answer is :     All the above.
119. Which of the following statements, is correct regarding valuation of immovable secured asset?      Marks:   2+ 0.5-
    Authorised officer will obtain estimated value from the approved valuer.
    The borrower need not involved in the valuation process.
    Valuaiton by approved vluer and fixing of reserve price is mendatory incase of immovable Assets.
    All the above.
The Correct Answer is :     All the above.
120. Which of the following is the important provision in respect of immovable property which is subject to encumbrances?      Marks:   2+ 0.5-
    The secured creditor shall vest in the transfree all the right as it the transfer had been made by the borrower.
    All encumberances know to secured creditor must be disclosed in the advertisement.
    The Authorised officer may allow the purchaser to deposit with him the money required to discharge the encumbrances.
    All the above.
The Correct Answer is :     All the above.
121. What are the provisions for appointment of manager for secured Assets:
    the Board of Directors of secured creditor may appoint a manager in consultation with the borrower to manage secure assets.
    The manager will be deemed to be an agent of borrower.
    The borrower solely would be responsible for the acts of manager.
    All the above.
The Correct Answer is :     All the above.
122. Which of the following arte the powers of manager?      Marks:   2+ 0.5-
    To recover any money form any person who has acquired secured asset, from the borrower.
    Such amount should become due or may become due in future.
    The manager will give valid discharge to person making payment as if the payment has been made to the borrower.
    All the above.
The Correct Answer is :     All the above.
123. What are the provisions of depositing 75% amount by the borrower while submitting appeal?      Marks:   2+ 0.5-
    No appeal will be entertained unless 75% of the amount is not deposited.
    DRT an waive or reduce the amount required to be deposited.
    The amount will include instalments which were not due.
    All the above.
The Correct Answer is :     All the above.
124. what are the important features of securitization?      Marks:   2+ 0.5-
    It is process through which illiquid Assets are transferred into more liquid from of Assets.
    The lending institution's Assets are removed from it Balance Sheet.
    These Assets are funded by investors through a negotiable financial instrument .
    All the above.
The Correct Answer is :     All the above.
125. What is the role of special purchase vehicle (SPV) in the process of securitization?      Marks:   2+ 0.5-
    It is an intermediary between seller of financial Assets.
    SPV receive money from investors and pays to the transferer.
    The investors are paid out of the Assets realized over a period of time.
    All the above.
The Correct Answer is :     All the above.
126. The essential features of pass through certificate are:      Marks:   2+ 0.5-
    A direct, participation in the case flow is sold.
    Receipt of Asset cash flow is deposited in a designated account.
    The funds are passed on to certificate holders.
    All the above.
The Correct Answer is :     All the above.
127. The essential features of pay through certificates are:      Marks:   2+ 0.5-
    It involves specific sale of asset cash flow to sPV.
    The SPV issues pay through certificates to the investors.
    The cash is collected by the SPV from the borrower and then distributed
    the cash is colleted by the SPV from the borrow and then distributed to certificate holders.
The Correct Answer is :     the cash is colleted by the SPV from the borrow and then distributed to certificate holders.
128. what are the pre-requistes for formatting a securitized company?      Marks:   2+ 0.5-
    it must obtain registration certificate from the RBI.
    minimum owned funds of Rs . 2 crore.
    the maximum amount of owned funds should not excel 15% of total financial assets acquired or to be acquieed.
    all the above
The Correct Answer is :     all the above
129. what are the steps an asspt reconstruction company can take?      Marks:   2+ 0.5-
    proper management of he business of the borrow.
    sale or lease of a part of whole of business of borrower.
    Re-scheduling the payment of dept.
    all the above
The Correct Answer is :     all the above
130. which of the following measures the asset reconstruction company can not undertake?      Marks:   2+ 0.5-
    it can acquire standand assets of banks.
    it can enforce security interest.
    it can settle the dues payable by the borrower.
    it can take possession of secured assets.
The Correct Answer is :     it can acquire standand assets of banks.
131. what are the impart benefits of SARFAESI Act, 2002 to the banks?      Marks:   2+
    the banks can realise assets by selling or leasing without intervention or court.
    manage asset- liability mis- matches.
    improve liquidity and recovery position.
    all the above .
The Correct Answer is :     all the above .
132. in case of grievance, what are the various forums available to the borrower to appeal?      Marks:   2+ 0.5-
    DRTandDRAT.
    high court.
    supreme court.
    all the above
The Correct Answer is :     all the above
133. . which of the following are the redressal agencies under the consumer protection act?      Marks:   2+ 0.5-
    district forum.
    state commission.
    national commission.
    all these .
The Correct Answer is :     all these .
134. . which of the following are the      Marks:   2+ 0.5-
    it has set up in each district.
    it is headed by the district judge.
    it deals with all the complaints where value of goods or services and the
    all the above.
The Correct Answer is :     all the above.
135. . the district forum deals with the complaints where value of goods does not exceed;      Marks:   2+ 0.5-
    Rs. 70 lac
    Rs. 25 lac
    Rs. 50lac
    Rs. No such limit.
The Correct Answer is :     Rs. 70 lac
136. the feature deals with the complaints where value of goods and service exceeds;      Marks:   2+ 0.5-
    it is set up state governments for the respective state.
    it is headed by the judge of a high court.
    it hears appeals against the orders of distict forums within the state.
    all the above .
The Correct Answer is :     all the above .
137. the state commission deals with the complaints where value of goods and services exceeds;      Marks:   1+ 0.25-
    Rs. 20 lac but does not exceed Rs. 50 lac .
    Rs. 20 lac but does not exceed Rs. 75 lac.
    Rs. 20 lac but does not exceed Rs. 1 crore
    no such limit is fixed.
The Correct Answer is :     Rs. 20 lac but does not exceed Rs. 1 crore
138. the national commission is headed by;      Marks:   2+ 0.5-
    commission nominated by center govt.
    judge of the supreme court.
    official of home ministry.
    an individual of high integrity.
The Correct Answer is :     an individual of high integrity.
139. . how many members are there in the national commission?integrity.
    4
    2
    6
    10
The Correct Answer is :     4
140. the complaints alt by nation commission are where value of goods and services exceeds;      Marks:   2+ 0.5-
    Rs.50 lac
    Rs. 1crore.
    Rs. 1.25 crore.
    Rs. 2 crore .
The Correct Answer is :     Rs. 1crore.
141. in which of the forums appeals can be filed with against the orders of state commission?      Marks:   2+ 0.5-
    national commission.
    high court.
    central government .
    any of these.
The Correct Answer is :     national commission.
  142. a complaints can be lodged in relation to any goods or services in the following circumstances;      Marks:   2+ 0.5-
    loss or damage suffered on account of unfair trade practice.
    the goods suffer from one a more defects.
    the services suffer from deficiency in any respect.
    all the above.
The Correct Answer is :     all the above.
143. a complaints under the consumer protection act, can be lodged by;      Marks:   2+    consumer himself or one or more consumers having common interest.
    a recognized consumer association
    the central of state government
    any of the above.
The Correct Answer is :     any of the above.
144. . what is the limitation period in which a complain can be filed with any of the forums?      Marks:   2+ 0.5-
    2 years from the date of cause of action.
    1 years from the date of cause of action.
    6 months from the date of cause of action.
    3 months from the date of cause of action.
The Correct Answer is :     2 years from the date of cause of action.
145. in how many days the opposite party can give the version of the case?
    7 days.
    15 days.
    30 days.
    no such time limit.
The Correct Answer is :     30 days.
146. in how many days laboratory should submit its report regarding the defect of the goods?      Marks:   2+ 0.5-
    55days
    60days
    75days
    90 days
The Correct Answer is :     55days
147. what are the steps involved on settlement of a complaint in case of services?
    both the parties are required to produce evidence in support to their claims.
    the forum examines th evidence and hear the parties.
    the forum passes appropriate orders.
    all the above
The Correct Answer is :     all the above
148. . what kind of instructions the forum can issue to the opposite party?
    to remove the defect of the goods.
    to replace the goods with new goods which shall be free from defect.
    to return to the complaint the price of goods or charges for se ices
    any one of the above
The Correct Answer is :     any one of the above
149. which of the following instruction the forum is not authorized to issue in case of defects or deficiacy in service?      Marks:   2+ 0.5-
    to return the degected goods along with addition new goods free of cost.
    to pay compensation for any loss or injury suffered by the consumer.
    to discontinue the unfair trade practice.
    to provide for adequate costs to the parties.
The Correct Answer is :     to return the degected goods along with addition new goods free of cost.
150. an appeal against the decision of national commission may be preferred with;
    central government.
    supreme court.
    high court.
    no provision for submitting an appeal
The Correct Answer is :     supreme court.
151. . what is the maximum period for filling an appeal against the orders of the forum /commission ?      Marks:   2+ 0.5-
    3 days
    30 days
    60 days
    90 days
The Correct Answer is :     30 days
152. . if the complaints lodged by the consumer is frivolous, the forum may instruct the construct th ecomplainst to pay penality to opposite pasrty to the extent of;
    Rs. 10.001.
    Rs. 5,00.
    Rs 10,00.
    Rs 15,000.
The Correct Answer is :     Rs 10,00.
153. . in case of non compliance of the orders of the forum by the trader or a person against whom complaint was made the forum c/commission may fix the following penalities?      Marks:   2+ 0.5-
    imprisonment of one month and upto 3 years.
    a fine of not less than Rs. 2,000 but to more than Rs. 10,000
    (a) or (b)
    (a) or (b)
The Correct Answer is :     (a) or (b)
154. who will be the chairman of central consumer oprotection council?      Marks:   2+
    minister incharge of consumer affars.
    judge of supreme court.
    any member nominated by government.
    none of the above.
The Correct Answer is :     minister incharge of consumer affars.
155. when was the national commission was set up set central government ?
    1986
    1987
    1988
    1991
The Correct Answer is :     1988
156. the district forum shall consist of;      Marks:   2+ 0.5-
    president
    an eminent person
    a lady social worker
    all these
The Correct Answer is :     all these
157. who would nbe the president of deistrict forum?      Marks:   2+ 0.5-
    district judge
    district magistrate
    additional commissioner.
    an eminenst social worker
The Correct Answer is :     district judge
158. . when was the consumer protection ant, 19896 modified?      Marks:   2+ 0.5-

    1991
    1993
    1995
    1997
The Correct Answer is :     1993
159. what are the special features of consumer protection act, from cousumers point of view?      Marks:   2+ 0.5-
    a simple process of complaint redressal.
    inexpendive redressal of complaint.
    speedy redressal of consumer grievances.
    all the above.
The Correct Answer is :     all the above.
160. . which of the following sectors the consumer protection ant,applies?      Marks:   2+
    private sector.
    public sector
    government agencies.
    all the above
The Correct Answer is :     all the above
161. . what kind of banking complains can be lodged with the consumer banking forum?. what kind of banking complains can be lodged with the consumer banking forum?      Marks:   2+ 0.5-
    charging edcess interest on laons
    payment of less interest on deposite
    forgery in the account
    all the above
The Correct Answer is :     all the above
162. which of the following complaints can not be redressed by the forum?
    non -enhancement in the credit limit
    non- payment of cheque without valid reason
    negligence in bank transactions.
    not providing the required service
The Correct Answer is :     non -enhancement in the credit limit
163. . which of the following activities is not commercial?      Marks:   2+ 0.5-
    goods bought by a consumer to be used exclusively by him for the purpose of earning hes livelihood by means of selt- employment
    a retailer.
    small scale industry
    a car of a transport company being operated by a driver.
The Correct Answer is :     goods bought by a consumer to be used exclusively by him for the purpose of earning hes livelihood by means of selt- employment
164. whin was the first asset reconstruction company was set up?      Marks:   2+ 0.5-
    august, 2003.
    dec,2003
    march,2004.
    june, 2003.
The Correct Answer is :     august, 2003.
165. which of the following banks were major promoters of first asset reconstruction company?      Marks:   2+ 0.5-
    state bank of India.
    icicibank.
    IDBI
    all these
The Correct Answer is :     all these
166. what was the capital contribution or major partipating banks in promoting the first asset re- construction company?      Marks:   2+ 0.5-
    50.%
    24.5%
    33.3%
    20%
The Correct Answer is :     24.5%
167. what are the main objectives of consimer protection act, 1986?      Marks:   2+ 0.5-
    to provide better protection of the interest of consumers.
    settlement of consumer disputes.
    to deal with other connected matters.
    all the above
The Correct Answer is :     all the above
168. which of the following statements, is correct regarding consumer protection act?      Marks:   2+ 0.5-
    the act extends to whole of India except the state of jammu&Kashmir.
    the act applies all goods and services except those notified by the central government .
    the act is called consimer protection act, 1986.
    all the above
The Correct Answer is :     all the above
169. consumer means;      Marks:   2+ 0.5-
    any person who buys any goods.
    any person who hires or avails of any services.
    any person who makes payment in full or in instalements or under hire purchase systems.
    all the above
The Correct Answer is :     all the above
170. who is not a consumer?      Marks:   2+ 0.5-
    any person who uses goods or benefited from services without making any payment.
    any person who obtain goods for resale or an commercial purpose.
    persons allotted plots or houses by housing development boards.
    a person hires any services for consideration.
The Correct Answer is :     any person who obtain goods for resale or an commercial purpose.
171. which of the following is not a consumer?      Marks:   2+ 0.5-
    patient receiving medical treatment in govt. hospital.
    patients getting treatment in private nursing home.
    persons selling/buying shares from a share broker
    none of the above.
The Correct Answer is :     none of the above.
172. the goods in the consumer protection act, includes;      Marks:   2+ 0.5-
    every kind of movable property except money.
    actionable claims, stocks and shares.
    growing) crops and things attached to or forming a part of the land .
    all the above.
The Correct Answer is :     all the above.
173. the services under the consumer protection includes;      Marks:   2+ 0.5-
    banking, financing and insurance.
    transports and processing.
    supply of electrician and other energy.
    all the above.
The Correct Answer is :     all the above.
174. .which of the following, is not a service under the provisions of the act?
    free services and personal services rendered under a contranct.
    boarding, lodging or both .
    entertainment and amusement.
    purveying of news and other information.
The Correct Answer is :     free services and personal services rendered under a contranct.
175. what are the essential features of services ?      Marks:   2+ 0.5-
    it must be of a commercial nature.
    it must be rendered on payment.
    services received by a patient from a doctor or hospital may be ree of charge.
    all the above.
The Correct Answer is :     all the above.
176. which of the following are not consumer under the act?      Marks:   2+ 0.5-
    beneficiary of services though not the hirer himself.
    nominee uder a bank deposit account.
    actual user of a subscribers telephone.
    all the above.
The Correct Answer is :     all the above.
177. which o the following rights of a consumer are protected under the act?
    the right to be protected against the making of goods which are hazardous to life and property.
    the right against unfair trade plactices.
    the right to be assured to a cvariety of goods and services at competitive prices.
    all the above.
The Correct Answer is :     all the above.
178. the unfair trade practice includes;      Marks:   2+ 0.5-
    quality and quantity.
    potency and purity.
    standard and price of goods and services.
    all the above.
The Correct Answer is :     all the above.
179. which of the following is not the right under the consumer protection act?     
    the right to be heard and to be assured that consumers interest will be received due consideration.
    right to seek fedressal.
    right to consumer education.
    right to free delivery at a particular spot.
The Correct Answer is :     right to free delivery at a particular spot.
180. the right of redressal is sought for against ;      Marks:   2+ 0.5-
    unfair trade practices.
    restrictive trade practices.
    unscrupulous exploitation.
    all these
The Correct Answer is :     all these
181. the concept of banking ombudsma is;      Marks:   2+ 0.5-
    originated on India.
    international concept.
    a scheme of world bak
    a part of basic committee recommendation.
The Correct Answer is :     a part of basic committee recommendation.
182. . who implemented the banking ombudsman scheme?      Marks:   2+ 0.5-
    Indian bank association.
    reserve bank of India.
    national institute of bank management
    national consumer commission
The Correct Answer is :     national consumer commission
183. which of the following the complaint need not contain?      Marks:   2+ 0.5-
    the name of the bank official
    the nature extent of loss caused to the complaint.
    relief sought from banking ombudsman .
    statement about the compliance of the condition.
The Correct Answer is :     the name of the bank official
184. what is the necessary condition to be complied with before lodging a complaint to banking ombusman      Marks:   2+ 0.5-
    the complainant before making a complaint to ombudsman to ombudsman must have made a representation to the concerned bank.
    bank might have reject ed the complaint or not replied the complaint
    the reply might have not to the satisfaction of complainant.
    (a) or (b) or (c)
The Correct Answer is :     (a) or (b) or (c)
185. the acceptance of recommendations of the banking ombudsman should be conveyed by the bank within?      Marks:   2+ 0.5-
    7 days
    15 days
    15days
    30days
The Correct Answer is :     30days
186. how many offices the banking ombudsman have at present ?      Marks:   2+ 0.5-
    5
    10
    21
    29
The Correct Answer is :     10
187. what are the formalities the banking ombudsman will comply before passing an award      Marks:   2+ 0.5-
    if the complaint is not settled within 2months from the date of receipt of the complaint, the baking ombudsman will inform parties about his intention to pass an award.
    both the parties may submit further representation or evidences in support their case within 15 days.
    the banking ombudsman will pass an award.
    all the above
The Correct Answer is :     all the above
188. before passing an award the banking ombudsman will be guided by;      Marks:   2+
    evidences produced by the parties.
    banking law and practice.
    instructions and guidelines issued by RBI
    all the above
The Correct Answer is :     all the above
189. . an award by banking ombudsman will contain;      Marks:   2+ 0.5-
    specific performance of opigartions.
    loss / cost to be borne by the bank.
    reasons for making the award.
    all the above .
The Correct Answer is :     all the above .
190. an award will be executed the bank in the following manner;      Marks:   2+ 0.5-
    complainant must submit acceptance letter within one month he will accept the award in full and final settlement
    the bank shall comply the award within 5 days of receipt of acceptance from the complaint
    the bank shall intimate the banking ombudsman about compliances of the award within 15 days.
    all the above.
The Correct Answer is :     all the above.
191. the banking ombudsman may reject the complaint on the following grounds
    complaint is without sufficient cause.
    complaint is not pursued with reasonable diligence.
    there is no loss or damage or inconvenience suffered by the complainant.
    any one or all of the above
The Correct Answer is :     any one or all of the above
192. which of the following the banking ombudsman does not cover?      Marks:   2+ 0.5-
    financial institutions.
    non- banking financial companies
    non- scheduled banks.
    all the above.
The Correct Answer is :     all the above.
193. . the banking ombudsman receives maximum number of complaints in respect of;      Marks:   2+ 0.5-
    foreign bank
    public sector bank
    regional rural bank
    co- operative bank
The Correct Answer is :     public sector bank
194. most of the complaints are settled through;      Marks:   2+ 0.5-
    mutual agreement
    award .
    bank itself
    before proceeding to agreenebt stage
The Correct Answer is :     mutual agreement
195. which of the following are the norms of awarding compensation by the banking ombudsman ?      Marks:   2+ 0.5-
    banking ombudsman does not have unlimited powers to allow compensation.
    the maximum limit of compensation is Rs. 10 lac
    no compensation will be awarded in excess of that which is necessary.
    all the above
The Correct Answer is :     all the above
196. . in case of non- compliance of the award by the bank the baking ombudsman will report to;      Marks:   2+ 0.5-
    reserve bank of India.
    supreme court
    finance ministry
    consumer protection forum
The Correct Answer is :     reserve bank of India.
197. what is the maximum limit of compensation the baking ombudsman may a award?      Marks:   2+ 0.5-
    Rs. 1 lac
    Rs. 5 lac
    Rs. 10 lac
    Rs. No such limit
The Correct Answer is :     Rs. 10 lac
198. what is the maximum time for settlement of a claim before passing an award by the banking ombudsman      Marks:   2+ 0.5-
    within 15 days from the date of receipt of complaint.
    within 30 days from the date of receipt of complaint.
    within 2 months from the date of receipt complaint ,
    within 3 months from he date of receipt of complaint
The Correct Answer is :     within 2 months from the date of receipt complaint ,
199. . what is the time limit to accept the recommendations of baking ombudsman by a bank?      Marks:   2+ 0.5-
    one week
    2 weeks
    3 weeks
    4 weeks
The Correct Answer is :     2 weeks
200. . the banking ombudsman scheme was implemented in india on;      Marks:   2+ 0.5-
    14.6 .1995
    1.1.7.1995
    2.10.1995
    15.12.1995
The Correct Answer is :     14.6 .1995
201. the banking ombudsman scheme 1995 was amended in      Marks:   2+ 0.5-
    2000
    2001
    2002
    2004
The Correct Answer is :     2002
202. . the banking ombudsman scheme covers the following banks;      Marks:   2+ 0.5-
    scheuled commercial banks.
    regional rural banks.
    co- operative banks.
    all these
The Correct Answer is :     all these
203. . which of the following statements is correct regarding banking ombudsman scheme?      Marks:   2+ 0.5-
    it is an opportunity to public to redress their grievances of banking services
    it is an additional grievances settlement mechanism
    it is not substistution of consume protection ant.
    all the above.
The Correct Answer is :     all the above.
204. . the opjectives of the banking ombudsman scheme are;      Marks:   2+ 0.5-
    to promote settlement through conciliatio
    prompt settlement of customer grievances .
    inexpensive settlement of grievances.
    all the above.
The Correct Answer is :     all the above.
205. who can make the complaint to ombudsman?      Marks:   2+ 0.5-
    the customer himself
    the authorized representative of customer.
    (a) or (b) above
    all the above
The Correct Answer is :     (a) or (b) above
206. . under what circumstances a complaint can be lodged with the banking ombudsman      Marks:   2+ 0.5-
    if the bank has not settled the issue within a perio of two months.
    the bank has rejected the complaint of the customer
    the reply given by the bank to the cucstomer was not satisfactory.
    all the above
The Correct Answer is :     all the above
207. what is the true limit for a bank to dispose customers complainst?      Marks:   2+
    1 month
    2month
    3month
    6month
The Correct Answer is :     2month
208. what kind of complaint can be lodged with the banking ombudsman?      Marks:   2+
    delay in collection of cheques
    deficienc in cash transaction.
    non- issue of demand drafts
    all the anove
The Correct Answer is :     all the anove
209. the ombudsman sigifies;      Marks:   2+ 0.5-
    an institution established to content and prevent abuses of power by bublic official.
    redress individual grievances
    acts as an external agency to probe in to administration faults.
    all the above
The Correct Answer is :     all the above
210. . the role of banking ombudsman is;      Marks:   2+ 0.5-
    resolution of complaints against banks regarding deficiency in services
    it is an external agency includes mediation persuasion and adjudication
    it is an external agency having independent identity
    all the above
The Correct Answer is :     all the above
211. banking ombudsman is;`      Marks:   2+ 0.5-
    legat machinery established by subordinate legislation to provide an additional but optainal legal remedy
    a judicial machinery
    NGO
    an administrative machinery
The Correct Answer is :     legat machinery established by subordinate legislation to provide an additional but optainal legal remedy
212. . the feaures of the award awarded by banking ombudsman are;      Marks:   2+ 0.5-
    it is binding on the banks
    it is not binding on the complaints unless be accepts it
    the complaint is free to seed alternative remedies availale under general law
    all the above
The Correct Answer is :     all the above
213. what is the tenureo banking ombudsman?      Marks:   2+ 0.5-
    1years
    3years
    5 years
    no such time limet
The Correct Answer is :     5 years
214. what is the provisions of remuneration of the baking ombudsman ?      Marks:   2+
    60 years
    62 years
    65 years
    68 years
The Correct Answer is :     65 years
215. . what are the provisions of remuneration of the banking ombudsman
    he is eligible for remuneration and other perquisites
    this will be determined by the RBI
    this has to be borne by banks proportionatel
    all the above
The Correct Answer is :     all the above
216. . the necessary requirement for submitting need not contain?      Marks:   2+ 0.5-
    it must be in writing and duly signed by the complainant and or authorized person.
    it should contain the name address of the complainant.
    it must contain the bank and branch name against which complaint is being made.
    all the above
The Correct Answer is :     all the above
217. the bank is required to comply with the execution of the award of banking ombudsman within;the bank is required to comply with the execution of the award of banking ombudsman within;      Marks:   2+ 0.5-
    7 days
    15days
    30days
    60days
The Correct Answer is :     15days
218. the bank can seek review of award before;      Marks:   2+ 0.5-
    deputy governor of RBI
    chief justice of supreme court.
    consumer protection act, 1986
    none of the above
The Correct Answer is :     deputy governor of RBI
219. the banking ombudsman may ask the concerned bank to submit;      Marks:   2+ 0.5-
    information on the complaint.
    evidences and documents in support of the reply to the complaint
    other related document
    all the above
The Correct Answer is :     all the above
220. under which provisions, the RBI has introducted the banking regulation act, 1949      Marks:   2+ 0.5-
    section 33 of banking omudsman scheme
    RBI act, 134
    consumer protection act, 1986
    none of the above
The Correct Answer is :     none of the above
221. an award of banking ombudsman is;      Marks:   2+ 0.5-
    a judicial decision.
    an arbitrirary order
    an order on the bank .
    an appeal to the bank
The Correct Answer is :     a judicial decision.
222. under the banking ombudsman scheme a complaint can be lodged with the ombudsman      Marks:   2+ 0.5-
    within in the specified jurisdiction.
    with the head office of the bank
    with the consumer of the bank
    any of the above
The Correct Answer is :     within in the specified jurisdiction.
223. the secretariate staff in the baking ombudsman office will be      Marks:   2+ 0.5-
    drawn from banks.
    drawn from reserve bank
    directl appointed
    (a) and (b)
The Correct Answer is :     (a) and (b)

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