11. In a lease of immovable property, which of the following does not match:
a. The transferor is called the lessor
b. The transferor is called the lessee
c. The price in a lease is called the lease rental
d. None of the above
Ans: c

12. Where a company has been financed by a consortium of banks, the decision to tqake possession
and sell the security under SARFAESI Act is to be taken:
a. By the banks having 75% share by value on the record date , in the consortium
b. By all the major banks financing the company
c. By the lead bank in the consortium
d. By the banks having 60% share by value on the record date, in the consortium.
Ans: d

13. As per prevention of Money laundering Act 2002, the banks are required to maintain record of
specified transaction for a period:
a. Of 20 years
b. Of 10 years
c. Of 5-8 years
d. Of 5 years
Ans: d

14. Under provisions of SARFAESI Act, which of following transactions do not require registration
with Central registry?
a. Securitization
b. Reconstruction
c. Creation of security interest
d. None of the above
Ans: d

15. A customer field a complaint with the Ombudsman which was rejected. What remedy is
available to the customer:
a. The grounds of rejection cannot be appealed against by the customer.’
b. Customer can only file suit in a court of law
c. Customer can request for review
d. Grounds of rejections can be appealed against within 30 days
Ans: d

16. Registration of a partnership firm under provisions of Indian partnership Act 1932 can be:
a. With the Registrar of firms of the area in which the business of the firms is conducted
b. With the registrar of Firms of the area in which the registered office of firm is located
c. With the Registrar of Companies of the area in which the business of the firm is conducted
d. With the registrar of Companies of the area in which the registered office of firm is located
Ans: a

17. Recovery of Debt due to banks & Financial Institutions Act 1993 Section 2 (g) provides definition
of ‘debt’, which include (which is not correct):
a. Any liability inclusive of interest which is secured
b. Any liability inclusive of interest which is not secured
c. Any liability payable under a decree or order of a civil court
d. Any liability recoverable by the bank from its employee who committed a fraud
Ans: d

18. Banks are required to maintain records under prevention of Money Laundering Act 2002. Which
should contain following information (which is not correct):
a. Nature of the transaction
b. Amount of the transaction and the currency
c. Date on which transacted and the parties to the transaction
d. None of the above
Ans: d

19. Under provisions of transfer of Property Act, subject to agreement between parties, a property
can be sold without intervention of court, if it located at:
a. Any place
b. Chennai, Mumbai and Kolkata only
c. Towns notified by the State Govt. only
d. B or c
Ans: d

20. A suit been field by Bank-B in DRT located at place Z. Now the bank wants to transfer this case to
another DRT located at place Y. who can permit this transfer:
a. High Court
b. President of the DRT with consent of president of the other DRT
c. Chairperson of DRAT having jurisdiction over both DRTs
d. Chairperson of DRAT irrespective of jurisdiction over both DRTs
Ans: c

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