The delivery of goods by one person to another for some purpose upon a contract that they shall when the purpose is accomplished be returned or otherwise dispose of upon discretion of the delivering person the contract is called ……
a. Indemnity
b. Bailment
c. Contingent Contract
d. None of above
Ans – b
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Which of the following are qualitative control methods?
a. Margins
b. Maximum limit of credit for specific purpose
c. Differential rate on certain types of advancement
d. All of the above
Ans – d
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Legislation gives which body the power to specify a code of conduct for surveyors and loss assessors?
a. Institute of Insurance and Risk Management
b. Insurance Regulatory and Development Authority
c. Life Insurance Council
d. Securities and Exchange Board of India
Ans – b
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Which of the following is true about the functions performed by RBI? (i) It is the Bank of Issue, (ii) It acts as banker to the Government, (iii) It regulates the flow of credit
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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Value of good will agreed upon Rs. 30000 on C,S admission and allowing him ¼ share of total profit Good will is brought in cash, the amount of good-will be as ……
a. Rs. 30000
b. Rs. 7500
c. Rs. 150000
d. Rs. 120000
Ans – b
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Which section of IT Act deals with Hacking of computer systems and its penalties?
a. Section 65
b. Section 66
c. Section 62
d. Section 67
Ans – b
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“Men may come and men may go but the company exist”- this explains which characteristics of the company as per companies Act 1956?
a. Separate legal entity
b. Perpetual Succession
c. Capacity to sue
d. None of the above
Ans – b
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Actual possession of property by another must put of such property on his guard, than its amount to notice for ……
a. Purchaser
b. Municipality
c. Seller
d. Registration office
Ans – a
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Mr. X issues a stop payment instructions to his banker to Stop payment of a cheque for Rs,20,000.00. This is ……
a. A request from Hari
b. An intimation from Hari
c. An advice from Hari
d. A mandate from Hari
Ans – d
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A negotiable instrument is endorsed as Pay to Shalini only. This is called as ……
a. Blank endorsement
b. Restrictive endorsement
c. Sans recourse endorsement
d. Endorsement in Full
Ans – b
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In a demand draft the word “order” is changed to “bearer” by the holder of the DD. It is called as ……
a. Endorsement
b. Material alteration
c. Crossing
d. None of the above
Ans – b
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When RBI is the lender of last resort what does it mean?
a. RBI advances necessary credit against eligible securities
b. Commercial banks give funds to RBI
c. RBI advances money to public whenever there is an emergency
d. All of the above
Ans – a
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Which of the following is true about the restrictions on RBI?
(i) It is not to compete with the commercial banks
(ii) It is not allowed to pay interest on its deposits
(iii) It cannot engage directly or indirectly in trade
(iv) It cannot acquire or advice loans against immovable property
(v) It is prohibited from purchasing its own shares or the shares of any other bank or any company or granting loans on such security
a. only (i),(ii),(iii), and (iv)
b. only (v)
c. all the above
d. none of the above
Ans – c
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