Banking and Finance 3 MCQs

M

Mr. Dubey • 51.17K Points
Coach

Q 1. An actuary is expected to:

(A) Make an exact forecast of the future liabilities of policies
(B) Make a reasonable forecast of the future liabilities of policies
(C) Calculate the premium required to cover a risk on a long-term basis
(D) Find the probability of an insured event to happen in non-life policies
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M

Mr. Dubey • 51.17K Points
Coach

Q 2. Which of the following is not a security interest:

(A) Any mortgage, charge, hypothecation, assignment or any right, title or interest of any kind, on tangible asset, retained by the secured creditor as an owner of the property, given on hire or financial lease or conditional sale or under any other contract.
(B) Such right, title or interest in any intangible asset or assignment or license of such intangible asset which secures the obligation to pay any unpaid portion of the purchase price of the intangible asset or the obligation incurred or any credit provided to enable the borrower to acquire the intangible asset or license of intangible asset
(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
(D) Lien of goods, pledge of movables, security interest of less than Rs. One Lakh
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M

Mr. Dubey • 51.17K Points
Coach

Q 3. An Example of smurfing:

(A) Wiring money to the foreign country
(B) A drug dealer asking a stranger to buy a money order with drug money.
(C) A broker buying pesos with US Dollars
(D) None of the above.
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M

Mr. Dubey • 51.17K Points
Coach

Q 4. 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?

(A) One rupee for every Rs.100 or part thereof.
(B) One rupee for every Rs.1000 or part thereof.
(C) It shall be exempted from stamp duty.
(D) It depends from State to State.
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M

Mr. Dubey • 51.17K Points
Coach

Q 5. Which of the following is the usage of shell companies?

(A) To create the appearance of legitimate transaction through false invoice and financial statements.
(B) To take loan against securities acquired from black money and paying tax on profit.
(C) Both (i) and (ii)
(D) None of the above
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M

Mr. Dubey • 51.17K Points
Coach

Q 6. Before which for a can an asset reconstruction company file an application for enforcement of its security interest:

(A) Debt Recovery Tribunal
(B) High Court
(C) District Court
(D) National Company Law Tribunal
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M

Mr. Dubey • 51.17K Points
Coach

Q 7. Who shall be responsible for furnishing information on modification and satisfaction of security interest:

(A) Asset Reconstruction Company or secured creditor
(B) Only secured creditor
(C) Only the asset reconstruction company
(D) Borrower or secured creditor
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M

Mr. Dubey • 51.17K Points
Coach

Q 8. The Three Stages of Money Laundering are:

(A) Layering, Placement, Refining
(B) Placement, Refining, Integration
(C) Layering, Placement, Integration
(D) Layering, Refining, Integration
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M

Mr. Dubey • 51.17K Points
Coach

Q 9. . Reserve Bank has the power under __________ of the Securitisation Act to cancel the Certificate of Registration issued by it to any ARC:

(A) Section 5
(B) Section 8
(C) Section 4
(D) Section 12
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M

Mr. Dubey • 51.17K Points
Coach

Q 10. 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:

(A) 21st Day of June 2002
(B) 30th Day of May 2002
(C) 21st Day of July 2002
(D) 21st Day of April 2002
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