Q. An actuary is expected to:
✅ Correct Answer: (B)
Make a reasonable forecast of the future liabilities of policies
Banking and Finance 3 MCQs and Notes
Q. Which of the following is not a security interest:
✅ Correct Answer: (C)
A lien on any goods, money or security given by or under the Indian Contracts Act, 1872 or the Sale of Goods Act, 1930 or any other law for the time being in force
Q. An Example of smurfing:
✅ Correct Answer: (A)
Wiring money to the foreign country
Q. What is the stamp duty to be paid in respect of any document executed by any banker financial institution for issuing a debenture or bond?
✅ Correct Answer: (C)
It shall be exempted from stamp duty.
Q. Which of the following is the usage of shell companies?
✅ Correct Answer: (C)
Both (i) and (ii)
Q. Before which for a can an asset reconstruction company file an application for enforcement of its security interest:
✅ Correct Answer: (A)
Debt Recovery Tribunal
Q. Who shall be responsible for furnishing information on modification and satisfaction of security interest:
✅ Correct Answer: (A)
Asset Reconstruction Company or secured creditor
Q. The Three Stages of Money Laundering are:
✅ Correct Answer: (C)
Layering, Placement, Integration
Q. . Reserve Bank has the power under __________ of the Securitisation Act to cancel the Certificate of Registration issued by it to any ARC:
✅ Correct Answer: (C)
Section 4
Q. Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act popularly known as SARFAESI Act was enacted in which of the following year:
✅ Correct Answer: (A)
21st Day of June 2002