Memory Based
Memory Based
Memory Based
Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 1
Jobs
ambitiousbaba.com Online Test Series
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 )
Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 2
Jobs
ambitiousbaba.com Online Test Series
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 )
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
Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 3
Jobs
ambitiousbaba.com Online Test Series
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
Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 4
Jobs
ambitiousbaba.com Online Test Series
Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 5
Jobs
ambitiousbaba.com Online Test Series
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
_______
Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 6
Jobs
ambitiousbaba.com Online Test Series
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 ________
Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 7
Jobs
ambitiousbaba.com Online Test Series
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%
Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 8
Jobs
ambitiousbaba.com Online Test Series
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 )
Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 9
Jobs
ambitiousbaba.com Online Test Series
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
Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 10
Jobs
ambitiousbaba.com Online Test Series
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
Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 11
Jobs
ambitiousbaba.com Online Test Series
(d) The Banking Companies (Acquisition and Transfer) of Undertakings Act 1970
Ans ( b )
Click here to get Free Study Materials Just by Fill this form
Best Online Test Series Site for Bank | JAIIB | CAIIB | RRB NTPC | SSC and State Government 12
Jobs