SOLVED JAIIB COMBINED PAPER 43:
1. In securitisation, who is the originator?
a. Borrower
b. Lending Bank
c. Securitisation Company
d. None of the above
Ans - b
2. On sale of security asset, the sale proceeds are appropriated firstly.
a. Towards satisfaction of dues of secured creditor.
b. Towards payment of dues of labour.
c. Towards payment of cost, charges and expenses for preservation and protection of securities, insurance premiums, etc
d. Towards payment of legal costs incurred by the creditor for taking possession and for effecting sale.
Ans - c
3. Any Securitisation Company may
a. Act as an agent for any bank or FI for the purpose of recovering their dues from the borrower
b. Act as a manager for the secured assets
c. Act as receiver if appointed by any court or tribunal.
d. Any/all of the above
Ans - d
4. SARFAESI Act is not applicable to
a. SBI and its subsidiary Banks
b. Regional Rural Banks
c. Co-operative Banks
d. None of the above
Ans - d
5. DRT deals with the cases of recovery of debts above
a. 5 Lakhs
b. 10 Lakhs
c. 15 Lakhs
d. 20 Lakhs
Ans - b
6. Limitation period for filling of the review application against the award given by the Banking Ombudsman is ........
a. 30 Days
b. 45 days
c. 60 Days
d. 90 Days
Ans - b
7. An entity holding not less than 10% of the paid-up equity capital of Securitisation or reconstruction Company is called as
a. Originator
b. Secured Creditor
c. Sponsor
d. Secured debtor
Ans - c
8. Besides the SARFAESI Act some other laws require some registration of charge created in the property. Whether such double registration is avoidable?
a. Yes, the creditor can choose under which law he needs registration.
b. No. registration under SARFAESI Act as well as any other applicable law will have to be made, as SARFAESI Act is not substitution of any other law.
c. Yes, if one charge noting is by a registered document.
d. No, as the Civil Courts and DRT still have jurisdiction against the properties both registration are required.
Ans - b
9. Whether breach of RBI directives is punishable offence and to what extent?
a. Yes, fine up to five lakh rupees and for continuation of offence per day fine up to rupees ten thousand.
b. Yes, by cancellation of licences of the company.
c. No, these are the administrative directions.
d. No, the Act has not provided for any punishment in specifc.
Ans - a
10. Banks generally engaged in which type of leasing activities?
A. operational
B. financial
C. service
D. leveraged
Ans - b
11. SARFAESI Act 2002 is applicable to
A.whole of India
B.whole of India except J&K
C.major cities of India
D.only in notified towns under Transfer of property act
Ans - a
12. Under SARFAESI Act,2002, a minimum time of ....... days is to be given to the borrower / guarantor after issuing demand notice under Section 13(2).
A.90 days
B.365 days
C.30 days
D.60 days
Ans - d
a. Borrower
b. Lending Bank
c. Securitisation Company
d. None of the above
Ans - b
2. On sale of security asset, the sale proceeds are appropriated firstly.
a. Towards satisfaction of dues of secured creditor.
b. Towards payment of dues of labour.
c. Towards payment of cost, charges and expenses for preservation and protection of securities, insurance premiums, etc
d. Towards payment of legal costs incurred by the creditor for taking possession and for effecting sale.
Ans - c
3. Any Securitisation Company may
a. Act as an agent for any bank or FI for the purpose of recovering their dues from the borrower
b. Act as a manager for the secured assets
c. Act as receiver if appointed by any court or tribunal.
d. Any/all of the above
Ans - d
4. SARFAESI Act is not applicable to
a. SBI and its subsidiary Banks
b. Regional Rural Banks
c. Co-operative Banks
d. None of the above
Ans - d
5. DRT deals with the cases of recovery of debts above
a. 5 Lakhs
b. 10 Lakhs
c. 15 Lakhs
d. 20 Lakhs
Ans - b
6. Limitation period for filling of the review application against the award given by the Banking Ombudsman is ........
a. 30 Days
b. 45 days
c. 60 Days
d. 90 Days
Ans - b
7. An entity holding not less than 10% of the paid-up equity capital of Securitisation or reconstruction Company is called as
a. Originator
b. Secured Creditor
c. Sponsor
d. Secured debtor
Ans - c
8. Besides the SARFAESI Act some other laws require some registration of charge created in the property. Whether such double registration is avoidable?
a. Yes, the creditor can choose under which law he needs registration.
b. No. registration under SARFAESI Act as well as any other applicable law will have to be made, as SARFAESI Act is not substitution of any other law.
c. Yes, if one charge noting is by a registered document.
d. No, as the Civil Courts and DRT still have jurisdiction against the properties both registration are required.
Ans - b
9. Whether breach of RBI directives is punishable offence and to what extent?
a. Yes, fine up to five lakh rupees and for continuation of offence per day fine up to rupees ten thousand.
b. Yes, by cancellation of licences of the company.
c. No, these are the administrative directions.
d. No, the Act has not provided for any punishment in specifc.
Ans - a
10. Banks generally engaged in which type of leasing activities?
A. operational
B. financial
C. service
D. leveraged
Ans - b
11. SARFAESI Act 2002 is applicable to
A.whole of India
B.whole of India except J&K
C.major cities of India
D.only in notified towns under Transfer of property act
Ans - a
12. Under SARFAESI Act,2002, a minimum time of ....... days is to be given to the borrower / guarantor after issuing demand notice under Section 13(2).
A.90 days
B.365 days
C.30 days
D.60 days
Ans - d