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JAIIB CAIIB STUDY MATERAILS

Income received from Reverse Mortgage under IT act (i) will not be treated as income, (ii) will not
be treated as transfer, (iii) The sum received will be exempted from income tax

a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)

Ans – d
………………………………………

The following are negotiable except ……

a. “Pay to bearer Jose Cruz P 10,000 upon demand”, signed by A and addressed to B
b. “Pay to Jose Cruz or bearer P 10,000 upon demand”, signed by A and addressed to B
c. “I oblige myself to pay Pedro Reyes or order P 3,000 ten days after day signed by M as maker.
d. “Good to L or order P 5,000 July 1, 2009 signed by M as maker

Ans – a
………………………………………

Which Section of the Consumer Protection Act 1986 states about ‘unfair trade practice’

a. Section 2(1)(d)
b. Section 2(1)(r)
c. Section 2(2)(r)
d. Section 3(1)(b)

Ans – b
………………………………………

Maximum advance from the banking system that can be allowed to an individual against shares, convertible bonds, convertible debentures and units of equity oriented mutual funds is restricted to ……
(i) Rs. 10 lakh if the securities are held in physical form, (ii) Rs. 20 lakhs if the securities are held in demat form, (iii) Rs. 20 lakhs whether securities are in physical or demat form

a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)

Ans – a
………………………………………
Which one among the following formulates the fiscal policy in India ?

a. Planning Commission
b. Finance Commission
c. The Reserve Bank of India
d. Ministry of Finance

Ans – d
………………………………………

The aggregate exposure of a bank to the capital markets in all forms (both fund based and non-fund based) on solo basis as well as consolidated basis should not exceed % of its net worth as on March 31 of the previous year and the bank’s direct investment in shares, convertible bonds / debentures, units of equity-oriented mutual funds and all exposures to Venture Capital Funds (VCFs) should not exceed % of its net worth.

a. 20%; 40%
b. 15%; 40%
c. 40%; 20%
d. 50%; 20%

Ans – c
………………………………………

As per Banking Regulation Act, banks will be required to maintain minimum SLR of % of NDTL

a. 25%
b. 20%
c. 15%
d. None of these as it is fixed by RBI

Ans – d
………………………………………

Which doctrine has been involved in the provision regarding condition precedent?

a. Doctrine of Acceleration
b. Doctrine of Cy-pres
c. Rule against Perpetuity
d. Rule of Perpetuity

Ans – b
………………………………………
Which section of IT Act deals with the appointment of Controller of certifying authorities?

a. Section 17
b. Section 15
c. Section 10
d. Section 5

Ans – a
………………………………………

At the time of a new partner Good will ……

a. Belongs to all partners, new and old
b. Belongs only to the new partners who is going to be admitted.
c. Belongs only to the old partner who have credited it
d. None of the above.

Ans – c
………………………………………

What is the punishment for identity theft in IT Act?

a. Three year imprisonment or 2 lakh rupees penalty or both
b. Two year imprisonment or 1 lakh rupees penalty or both
c. Three year imprisonment or 1 lakh rupees penalty or both
d. None of the above

Ans – c
………………………………………

Mortgage is defined under ……

a. contract act
b. sale of goods act
c. transfer of property act
d. none of the above

Ans – c
………………………………………

In contract of guarantee the person who gives guarantee is called (i) Surety, (ii) Principal debtor

a. Only (i)
b. Only (ii)
c. Either (i) or (ii)
d. Both (i) and (ii)

Ans – a
………………………………………

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