Which of the following can be appointed as Ombudsman and for how much time?
a. General Manager of RBI only for 5 years at a time.
b. General Manager or Chief General Manager of RBI for 3 years at a time.
c. Chief General Manager of RBI only for 3 years at a time.
d. Any other suitable person as per criteria fixed by RBI, for 3 years at a time.
Ans – b
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If loan is not repaid and the bank sells the goods and a part of the loan is still outstanding, what option do the bank have, to recover the amount……
a. bank can recover the loan from other assets of the borrower
b. bank can recover the loan from the borrower personally
c. bank cannot recover the loan from the borrower personally
d. bank has to write off the loan
Ans – b
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Which of the following, saves the outsiders, by ensuring that his contract is not inconsistent with the Memorandum of Association and Articles of Association?
a. doctrine of ultra-vires
b. doctrine of constructive notice
c. doctrine of indoor management
d. doctrine of outdoor management
Ans – c
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Under Sale of Goods Act, if the stipulation agreed to between the parties is essential to the main purpose of the contract, such stipulation is called……
a. condition
b. warranty
c. guarantee
d. implied condition
Ans – a
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Possession is with the mortgagee in (i) Conditional Mortgage, (ii) Simple Mortgage, (iii) English
Mortgage
a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)
Ans – a
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Income which accrue outside India from a business controlled from India is taxable in case of ……
a. Resident only
b. Not ordinarily resident only
c. Both ordinarily resident and NOR
d. Non-resident
Ans – c
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Fiscal policy refers to ……
a. Sale and purchase of securities by RBI
b. Government taxes, expenditure and borrowings
c. Government borrowings from abroad
d. Sharing of its revenue by Central Government with States
Ans – b
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Civil disputes upto Rs. can be settled under Lok Adalats
a. 5 lakhs
b. 10 Lakhs
c. 15 Lakhs
d. 20 Lakhs
Ans – d
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The crossing in a crossed cheque can be cancelled by ……
a. drawer
b. endorser
c. acceptor
d. drawee
Ans – a
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When one person signifies to another his willingness to do or to abstain from doing any thing with a view to obtaining the assent of that other person to such act or abstinence he is said to make a (i)
Proposal, (ii) Promise
a. Only (i)
b. Only (ii)
c. Either (i) or (ii)
d. Both (i) and (ii)
Ans – a
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In contract of guarantee the person at whose place guarantee given is called (i) Surety holder, (ii)
Principal debtor
a. Only (i)
b. Only (ii)
c. Either (i) or (ii)
d. Both (i) and (ii)
Ans – b
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Which of the following is correct about consortium financing by banks?
a. Minimum number of consortium members should be 2 and maximum number should be 4
b. Every bank will have same asset classification
c. Minimum share of a bank in the consortium should be 10%
d. The banks will have a pari passu charge on the securities charged to them.
Ans – d
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