If one partner of a firm cheats a customer, which of the following is not correct……
a. all the partners are liable for the loss to the customer
b. the partner that has cheated the customer is liable to other partners for loss to them
c. only the partner who has cheated the customer, is liable to the customer
d. none of the above
Ans – c
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To distinguish the Memorandum of Association from Articles of Association, which statement is correct……
a. Memorandum of Association is subordinate document
b. Articles of Association is a subordinate document
c. Articles of Association is dominating document
d. Memorandum of Association and Articles of Association, both are dominant documents
Ans – b
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Which of the following is an exception of doctrine of indoor management, i.e. the person dealing with the company can suffer loss?
a. where a person dealing with a company has actual knowledge of internal irregularity
b. where the situation is such that a person dealing with a company could have obtained information about internal irregularity
c. where an official of the company is acting unauthorisedly and the person dealing with the company has information about this.
d. all the above
Ans – d
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If a persons finds that he has not properly disclosed the income in his return, he can file revised return……
a. within 6 months from the end of the assessment year or before completion of assessment
b. within 300 days from the end of the assessment year or before completion of assessment
c. within one year from the end of the assessment year or before completion of assessment
d. he cannot file any revised return
Ans: c
The bank granted a term loan payable in half-yearly instalments in 5 years. The limitation in this case is
…… and begins from ……
a. 3 years, when there was loan default for the first instalment
b. 3 years, from date of loan
c. 2 years, from due date of the last instalment
d. 3 years, from due date of each instalment of the loan
Ans – d
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Which of the following is correct regarding the Consumer Protection Act?
a. The Act is applicable on all India basis including J & K State
b. the Act applies generally to all goods and services
c. the goods covered for resale or for commercial purpose and services rendered free of charge.
d. all the above
Ans – b
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A party has produced a certified copy of books of account and the defendant party wants the bank officer as a witness to prove the contents of copy……
a. the defendant party has no such right
b. the defendant party has the right to call the bank officer
c. the certified copy being prima facie evidence is admissible as evidence. Hence no requirement of calling the bank officer to prove.
d. the certified copy being prima facie evidence is admissible as evidence. But still the defendants has the right of calling the bank officer to prove.
Ans – c
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The preferential payments shall be made by the official liquidator or adequate provision for such payments shall be made by him within from the date of the winding up order of the Bank
a. 1 week
b. 1 month
c. 3 months
d. 6 months
Ans: c
Out of the total number of Directors of a banking company, not less than 2 shall be persons having special knowledge or practical experience in respect of (i) agriculture and rural economy, (ii) co-
operation, (iii) small-scale industry
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – d
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RRBs also to maintain same CRR as applicable for SCBs w.e.f. ……
a. 12.01.2002
b. 01.12.2002
c. 12.01.2005
d. 01.12.2005
Ans – a
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Every banking company shall, within 30 days after the close of each calendar year, submit a return to the Reserve Bank as at the end of such calendar year of all accounts in India which have not been operated upon for years
a. 2
b. 5
c. 10
d. 20
Ans – c
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If a DRT is set up, which of the following courts cannot exercise the jurisdiction for cases of Rs.10 lac and above……
a. Distt. courts
b. High Courts
c. Supreme Courts
d. all the above
Ans: d