SOLVED JAIIB COMBINED PAPER 42:
1.What is the tenure of banking ombudsman?
a. 1 years
b. 3 years
c. 5 years
d. no such time limet
Ans - b
2. The limitation period for filing a suit for foreclosure form the date money secured becomes due is
a. 12 Years
b. 20 Years
c. 25 Years
d. None of the above
Ans - d
3. Medium Term loans are normally repayable within ........... years
a. 2 to 5 years
b. 2 to 6 years
c. 2 to 7 years
d. 2 to 8 years
Ans - c
4. 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 default in repayment by the borrower.
d. When there is default in repayment and the bank declares the account as NPA.
Ans - d
5. On giving default notice by the creditor, the borrower gives a reply to it. What the creditor should do?
a. Ignore the notice as the law does not provide for any reply option to the bank.
b. Wait till the borrower initiates any legal action based on his reply.
c. Give due consideration to the reply and reply to it.
d. Take the matter before DRT for resolving issues raised in reply.
Ans - c
6. Fail to create charge and intimate to the central registrar as per Sec. 23,24 and 25 of SARFAESI Act by the Securitization Company can be punished with
a. Fine up to five lakh rupees and for continuation of offence per day fine up to rupees ten thousand.
b. Cancellation of licences of the company.
c. Fine upto rupees five thousand for each day during which the default continues.
d. The Act has not provided for any punishment in specific.
Ans - c
7. Securitization Company, for the purposes of asset reconstruction, can take which of the following measures?
a. The sale or lease of a part or whole of the business of the borrower
b. Rescheduling of payment of debts payable by the borrower
c. Taking possession of secured assets in accordance with the provisions of SARFAESI Act.
d. Any/all of the above
Ans - d
8. Delivery of goods by one person to another for some purpose is ......
a. Hypothecation
b. Mortgage
c. Pledge
d. Bailment
Ans - d
9. For filing a complaint before a district forum the limitation period prescribed is.......from the date of cause of action
a. 90 days
b. 1 year
c. 2 years
d. 3 years
Ans - c
10. Securitisation or SARFAESI Act is not applicable to assets
A. in possession of the creditor
B. charge on which is in favour of the creditor
C. both
D. none
Ans - b
11. The SARFAESI Act is applicable to secured creditors only to 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
Ans - a
12. In securitisation, who is the obligor?
a. Borrower
b. Lending Bank
c. Securitisation Company
d. None of the above
Ans - a
a. 1 years
b. 3 years
c. 5 years
d. no such time limet
Ans - b
2. The limitation period for filing a suit for foreclosure form the date money secured becomes due is
a. 12 Years
b. 20 Years
c. 25 Years
d. None of the above
Ans - d
3. Medium Term loans are normally repayable within ........... years
a. 2 to 5 years
b. 2 to 6 years
c. 2 to 7 years
d. 2 to 8 years
Ans - c
4. 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 default in repayment by the borrower.
d. When there is default in repayment and the bank declares the account as NPA.
Ans - d
5. On giving default notice by the creditor, the borrower gives a reply to it. What the creditor should do?
a. Ignore the notice as the law does not provide for any reply option to the bank.
b. Wait till the borrower initiates any legal action based on his reply.
c. Give due consideration to the reply and reply to it.
d. Take the matter before DRT for resolving issues raised in reply.
Ans - c
6. Fail to create charge and intimate to the central registrar as per Sec. 23,24 and 25 of SARFAESI Act by the Securitization Company can be punished with
a. Fine up to five lakh rupees and for continuation of offence per day fine up to rupees ten thousand.
b. Cancellation of licences of the company.
c. Fine upto rupees five thousand for each day during which the default continues.
d. The Act has not provided for any punishment in specific.
Ans - c
7. Securitization Company, for the purposes of asset reconstruction, can take which of the following measures?
a. The sale or lease of a part or whole of the business of the borrower
b. Rescheduling of payment of debts payable by the borrower
c. Taking possession of secured assets in accordance with the provisions of SARFAESI Act.
d. Any/all of the above
Ans - d
8. Delivery of goods by one person to another for some purpose is ......
a. Hypothecation
b. Mortgage
c. Pledge
d. Bailment
Ans - d
9. For filing a complaint before a district forum the limitation period prescribed is.......from the date of cause of action
a. 90 days
b. 1 year
c. 2 years
d. 3 years
Ans - c
10. Securitisation or SARFAESI Act is not applicable to assets
A. in possession of the creditor
B. charge on which is in favour of the creditor
C. both
D. none
Ans - b
11. The SARFAESI Act is applicable to secured creditors only to 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
Ans - a
12. In securitisation, who is the obligor?
a. Borrower
b. Lending Bank
c. Securitisation Company
d. None of the above
Ans - a