Which of the following is not a clause of memorandum of association?
a. situation
b. capital
c. subscription
d. directors
Ans – d
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Section 5, of the Contract Act, deals with ……
a. Communication of contract
b. Acceptance of contracts
c. Revocation of proposals and acceptances
d. None of above
Ans – c
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If a person contravenes or abates contravention of any provision of this Act or rules, he shall be punishable ……
a. With imprisonment for a term which may extend to three years or with fine or both
b. With imprisonment for a term which may extend to two years or with fine or both
c. With imprisonment for a term which may extend to one year or with fine of minimum Rs. 10,000 or both
d. With imprisonment for a term which may extend to one year or with fine or both
Ans – d
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The contract of guarantee is a contract in which a person perform the promise or discharge the liability of ……
a. The contractor
b. Stranger
c. Third person
d. None of above
Ans – c
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Which of the following does not fall under financial asset?
a. A mortgage, charge, hypothecation or pledge of movable property
b. Any right or interest in the security, whether full or part underlying such debt or receivables
c. Any financial assistance
d. Prepaid expenses undertaken with respect to a movable or immovable property
Ans – d
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Appellate Authority is vested with ……
a. Deputy Governor of RBI
b. Head Governor of RBI
c. Finance Ministry
d. None of The Above
Ans – a
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Loan against LIC policies are given based on ……
a. surrender value
b. paid up value
c. Insured value
d. market value
Ans – a
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Which of the following is not considered material alternation?
a. changing the date
b. changing the amount
c. changing the relation of the parties
d. none of them
Ans – d
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In case of joint financing under this Act, a creditor can ……
a. Take any action independently
b. Take action only when it is agreed upon by creditors holding 60% of the amount outstanding on record date
c. Take action only when it is agreed upon by creditors holding 50% of the debt outstanding as on that date
d. Take action with the permission of all the other creditors involved
Ans – b
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Commercial mortgages, farm mortgages and home mortgages are categories of ……
a. swapped mortgages
b. sovereign mortgages
c. secondary mortgages
d. primary mortgagees
Ans – d
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In the case of a joint stock co the registration of a charge is not required with registrar of companies for
……
a. Pledge of moveable property
b. hypothecation of moveable property
c. assignment of book debts
d. mortgage of fixed assets
Ans – 1
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A usance bill is presented for acceptance to the drawee. He has to accept in ……
a. within 24 hrs
b. within 48 hrs
c. within 72 hrs
d. no time limit
Ans – b
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When did the National Housing Bank start its operations?
a. July, 1982
b. July, 1988
c. April, 1980
d. March, 1971
Ans – b
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