LEGAL AND REGULATORY ASPECTS OF BANKING SOLVED PAPER
1. ........................... is terminated when the buyer gets the possession of goods .
a. agreement
b. lien
c. condition
d. warranty
Answer : B
2. The SARFAESI Act is applicable to secured creditors only by enforce the securities criteria ..............
a. without the intervention of court or tribunal
b. after taking permission of court or tribunal
c. in case of assets on which charge is registered
d. none
Answer : A
3. After using the securitisation measures a bank can proceed further in .........
a. civil court
b. DRT
c. both as the case may be
d. none
Answer : B
4. In Mardia case , What is that the supreme court declared invalid ?
a. Entire SARFAESI Act , 2002
b. Creation of Security Interest
c. Formation of Reconstruction Companies
d. Condition to pay 75% of the amount as pre-condition while preferring appeal to the DRT .
Answer : D
5. When any of the Bank or Financial institution creates a charge against property , with which authority the transaction will 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 those jurisdiction the property lies
d. With the RBI
Answer : A
6. When the provisions of SARFAESI Act , 2002 can be invoked for proceeding against the charged property ?
a. When the bank feels that it is necessary for the recovery at any time
b. When the RBI directs to do so
c. When there is a default in repayment by the borrower
d. When there is default in repayment and the bank declares the account as NPA
Answer : D
7. Whether existing or future receivables are property ?
a. Yes
b. No
c. Yes , but if and when charged to the lender
d.No, if hypothecated to the lender
Answer : A
8. Asset Reconstruction company has to get registration from .................
a. RBI
b. Its own bank
c. Both
d. None
Answer : A
9. The minimum number of members required in a private company is ......................
a. 3
b. 7
c. 12
d. 2
Answer : D
10. Most of the complaints are settled through ........
a. Mutual agreement
b. Award
c. Bank itself
d. before proceeding to agreed stage
Answer : A
a. agreement
b. lien
c. condition
d. warranty
Answer : B
2. The SARFAESI Act is applicable to secured creditors only by enforce the securities criteria ..............
a. without the intervention of court or tribunal
b. after taking permission of court or tribunal
c. in case of assets on which charge is registered
d. none
Answer : A
3. After using the securitisation measures a bank can proceed further in .........
a. civil court
b. DRT
c. both as the case may be
d. none
Answer : B
4. In Mardia case , What is that the supreme court declared invalid ?
a. Entire SARFAESI Act , 2002
b. Creation of Security Interest
c. Formation of Reconstruction Companies
d. Condition to pay 75% of the amount as pre-condition while preferring appeal to the DRT .
Answer : D
5. When any of the Bank or Financial institution creates a charge against property , with which authority the transaction will 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 those jurisdiction the property lies
d. With the RBI
Answer : A
6. When the provisions of SARFAESI Act , 2002 can be invoked for proceeding against the charged property ?
a. When the bank feels that it is necessary for the recovery at any time
b. When the RBI directs to do so
c. When there is a default in repayment by the borrower
d. When there is default in repayment and the bank declares the account as NPA
Answer : D
7. Whether existing or future receivables are property ?
a. Yes
b. No
c. Yes , but if and when charged to the lender
d.No, if hypothecated to the lender
Answer : A
8. Asset Reconstruction company has to get registration from .................
a. RBI
b. Its own bank
c. Both
d. None
Answer : A
9. The minimum number of members required in a private company is ......................
a. 3
b. 7
c. 12
d. 2
Answer : D
10. Most of the complaints are settled through ........
a. Mutual agreement
b. Award
c. Bank itself
d. before proceeding to agreed stage
Answer : A