CAIIB – BRBL – Mock Test- 04

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Read the following statements regarding Advisory Committee as per Section 7(2) of the MSMED Act, 2006 and state which is true or false? 1 The Chairman will be the 'Secretary, Ministry of Micro, Small and Medium Enterprises.' 2 The Committee usually comprises of 3 officers of the Central Government 3 The Member Secretary of National Board of Micro, Small & Medium Enterprises (NBMSME) is also the Member Secretary of Advisory Committee. 4 The committee shall provide advice to the Central Government on issues related to the promotion, development and enhancement of competitiveness of micro, small and medium enterprises

1T, 2F, 3T, 4F

1T, 2F, 3T, 4T

1T, 2F, 3F, 4T

1F, 2T, 3T, 4T

Z issues a cheque of Rs.5000 in favour of Y but balance in the account is Rs.4600. Y cleverly saw the balance on the computer screen, deposited Rs.400 in the account and got the cheque passed. Z claims refund of amount of Rs.4600.

bank is liable because after the payment of the cheque the balance in the account has been rendered to zero and this makes the account liable to closure.

bank is liable to refund the amount

bank is not liable since the balance has not been disclosed by the bank.

Bank is not liable since the customer has been saved from legal action u/s 138 of NI Act by the payee.

The fringe benefit tax relates to the tax payable:

by employer on the fringe benefits that are provided or deemed to be provided by the employer

by employees on non-cash benefits given by the employer

by employees and employer on pro-rata basis, on the fringe benefits that are provided or deemed to be provided by the employer

by employees on the fringe benefits that are provided or deemed to be provided by the employer

A 'charge' that is general and not specific in nature is called?

Fixed charge

Targeted charge

Specific charge

Floating charge

Which of the following is correct in connection with a cheque:

if nothing is written as to payable to bearer or order, it is payable to bearer

if nothing is written as to payable to bearer or order, it is not a valid cheque

if nothing is written as to payable to bearer or order, it is payable as order and if both are written it is payable as bearer.

if cheque is written as order and bearer, it is payable to order

Public sector banks are represented by which of the following group:

All domestic Banks, SBI & associate banks, RRBs

Nationalized banks, SBI, IDBI Bank, RRBs

SBI, nationalized banks, other domestic banks

Nationalized banks, SBI & associate banks, foreign banks

If the registration of a securitization or reconstruction company has been cancelled by RBI under SARFAESI Act and it still has not paid the dues of the investors along with interest, within the period specified by RBI:

the registration shall be deemed to have been cancelled

the registration shall be deemed to have been continuing

the registration shall be treated as cancelled after 3 months

the registration shall be treated as available for 2 months

If there is some ultra-vires transaction undertaken by the directors of the company, for the company:

It cannot be ratified either by Board or Shareholders.

It can be ratified by the shareholders

it can be ratified by the Board of Directors or Shareholders

it can be ratified by the Board of Directors

The provisions of Bankers’ Book Evidence Act apply on the banks that are maintaining their records:

both in physical as well as in electronic form

in electronic form only

in physical /paper form only

records in electronic form though recognised by law but are not possible to be produced in physical form

10.

Which term describes a situation where liabilities of an individual or an entity exceed its assets and is unable to pay debt obligations?

Financial Strain

Bankruptcy

Debt Crisis

Insolvency

11.

As per provisions of Consumer Protection Act 2019, appeal against order of State Commission to National Commission or against National Commission to Supreme Court can be made within a period of ___ from date of order:

30 days

45 days

15 days

60 days

12.

The transfer of interest in the immovable property by a person, to secure payment of loan obtained, is called:

mortgage

pledge

hypothecation

assignment

13.

Which of the following statements is false:

the shareholders of a company are the joint owners of a company

the directors of the company represent the shareholder of the company

a company can enter into contracts in its own name

if all members of a company die, the company has to be wound up.

14.

30 days

15 days

45 days

60 days

15.

If the borrower wants to appeal against the order of DRT to DRAT, he has to deposit ___% of the amount of the decree of DRT which can be reduced by DRAT to ___%.

50%, zero%

50%, Zero

75%, 25%

50%, 25%

16.

A contract by which one party promises to save the other party from loss likely to be caused, it called:

a contract of guarantee

a contract to compensate

a quasi-contract

a contract of indemnity

17.

Which of the following statements regarding SARFAESI Act are True or False? a The Act came into force w.e.f. 21.06.2002 b The Act is applicable on Housing Finance Companies notified by Central Govt. c The Act is applicable on retrospective basis, i.e. covers loans sanctioned prior to enforcement d The Act is applicable on Agricultural loans but does not cover agriculture lands

1T, 2T, 3T, 4F

1T, 2T, 3F, 4T

1T, 2T, 3T, 4T

1T, 2F, 3T, 4T

18.

Fill in the blanks in the following statements? 1) The marginal cost of funds shall comprise of Marginal cost of borrowings and return on __. 2) Negative carry on the mandatory CRR will be calculated as: Required CRR x (___ ) / (1- CRR), 3) Tenor premium costs arise from loan commitments with ____tenor.

net worth, average cost, longer

net worth, marginal cost, longer

capital, marginal cost, longer

net worth, marginal cost, medium

19.

NBFCs are required to classify their loan accounts to non-performing category is period of irregularity is ___

180 days

120 days

60 days

90 days

20.

The bailor is the person, who delivers goods:

to the surety to give guarantee

all the above

to another person for some purpose

to the creditor to secure the loan

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