21. Period for DRT decision on the application filed by bank is:
a. It must be decided within 90 days from date of first hearing
b. DRT to make effort to dispose off the application within maximum of 180 days from date of
receipt of application
c. It is binding on DRT to decide the matter within 180 days from date of itds receipt
d. DRT is not bound to abide by any time limit.
Ans: b

22. If any false information is provided to Registrar of Firms in connection with registration of a firm,
the penalty is:
a. Imprisonment up to one month or fine or both
b. Imprisonment up to 2 month or fine or both
c. Imprisonment up to 3 month or fine or both
d. Imprisonment up to 6 month or fine or both
Ans: c

23. Any person aggrieved by the order of Recovery officer may appeal to within days from
a. President of DRT, 30 days , receipt of copy of order of RO
b. President of DRT, 45 days , date of order of RO
c. President of DRT, 30 days , date of order of RO
d. President of DRT, 15 days , receipt of copy of order of RO
Ans: a

24. For the purpose of application of Bankers’ Book evidence Act, the bankers’ book include (a)
records kept as back up (b) records available as disaster recovery (c) records on micro film (d) records in
physical form
a. Only d
b. Only c and d
c. Only a, c and d
d. A to d all
Ans: d

26. When a suit is field by bank in DRT under RDDB Act, after receipt of the case from applicant, the
court issues summons to the borrower within days asking as to why the relief should not be given to the
a. 45 days
b. 30 days
c. 21 days
d. 14 days
Ans: b

27. Under Scale of Goods Act, which of the following is not correct:
a. Goods include share, stocks but not actionable claims
b. In an agreement to sell, the ownership is yet to transfer to the buyer
c. In case of sale, the risk in goods is with the seller and in case of agreement to sell, it is with the
d. A contract of sale of goods is a bilateral contract
Ans: c

28. Bank _ B allowed a cash credit advance to a party which is guaranteed by G. Such guarantee a
series of transactions is called:
a. Unlimited liability guarantee
b. Deferred payment guarantee
c. Continuing guarantee
d. Performance guarantee
Ans: c

29. The doctrine of Caveat Emptor states that:
a. Guarantor steps into shoes to creditor when he makes payment of the loan
b. The mortgage property can be taken back on payment of mortgage money
c. The buyer of goods should be cautious while purchasing the goods
d. The bank should never change the terms of a loan without consent of the guarantor
Ans: c

30. XYZ were allowed certain credit facilities on the guarantee of G. later on the account was got
secured by equitable mortgage of the property. But for certain reasons, the bank released the equitable
mortgaged. When the account became difficult of recovery and money was demanded from G also, he
took the plea that he stands discharged to the extent the value of mortgage, which has been released by
the bank.
a. Guarantor is not discharges as the mortgage was taken subsequent to the date of guarantee
b. Guarantor is not discharges as he is liable as long as borrower is liable
c. Guarantor is discharged to the extent of value of equitable mortgage, as bank has put the
guarantor to loss
d. Guarantor is discharged since value of security in the account has come down.
Ans: a

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