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JAIIB CAIIB STUDY MATERAILS

…… in relation to a cooperative society, for the puposes of BR Act, includes a member of any committee or body for the time being vested with the management of the affairs of that society .

a. Director
b. Member
c. Manager
d. None of the above

Ans – a
………………………………………

A bank has lent Rs.8 lakhs to a pvt.ltd.co. to purchase a pick up van. Therefore the bank’s charge

a. has to be registered with RTO/ROC
b. need not be registered with ROC
c. registration is optional
d. none of above

Ans – a
………………………………………

…… goods are to be manufactured/produced/acquired by the seller after making of the contract of sale.

a. Future
b. Specific
c. Moveable
d. Immoveable

Ans – a
………………………………………

What are the main features of SARFAESI Act, 2002?

a. To put a legal system for securitization.
b. Empowering banks and financial institutions to take possession of the mortagaged securities.
c. To sell the securities without intervention of court.
d. All the above.

Ans – d
………………………………………

What are the main issues with which SARFAESI Act, 2002 deals with?

a. Securitisation of Assets.
b. Setting up of an Assets Reconstruction Company.
c. Enforcement of securities.
d. All the above.

Ans – d
………………………………………

The essential features of securitization are:

a. Acquisition of Financial Assets by a Securitisation or Reconstruction Company.
b. The Assets may be NPA or standard.
c. On sale the Assets goes out of the Books of the originator.
d. All the above.

Ans – d
………………………………………

What are the main functions of Assets Reconstruction Company?

a. Setting up of a company.
b. Acquiring Assets for Reconstruction.
c. Acquire Assets for Asset Reconstruction.
d. All the above.

Ans – d
………………………………………

Which of the following is correct?

a. The borrower can file an appeal with the DRT only after the secured creditor takes possession of Asset.
b. Borrower can not file an appeal in the Civil Court.
c. Writ petition can be filed in the High Court at any time.
d. All the above.

Ans – d
………………………………………

Possession is with the mortgagee in (i) Conditional Mortgage, (ii) Usufructuary 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 – c
………………………………………

The important features of Enforcement of Securities are:

a. take possession of the Secured Assets.
b. Take over management of Secured Assets.
c. To acquire pending recovery cases from DRT.
d. Act as an Agent for Recover.

Ans – d
………………………………………

Which of the following is not a function of Asset Reconstruction Company?

a. To acquire pending recovery cases from DRT.
b. Act as an Agent for Recover.
c. Act as Manager.
d. Act as Receiver of Court/Tribunal.

Ans – a
………………………………………

The important features of Enforcement of Securities are:

a. take possession of the Secured Assets.
b. Take over management of Secured Assets.
c. Recover dues from the debtors of the borrower
d. All the above.

Ans – d
………………………………………

In which of the following Acts, the provisions of Mortgage of an Asset are dealt with?

a. Transfer of Property Act.
b. Sale of Goods Act.
c. Negotiable Instrument Act.
d. Indian Company Law.

Ans – a
………………………………………

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