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Q - 1 .For making payment towards imports into India, application from importers is obtained on ......

Form A1
Form A4
Stat 4
R 6

Q - 2 .As per RBI guidelines, a bank is required to assess the working capital on the basis of the following method

Turnover Method
Cash Budget Method
MPBF of Tandon Method
Any Method as decided by the individual banks

Q - 3 .The minimum number of directors required in a public & Private companies are ......

3 & 1
7 & 2
3 & 2
5 & 2

Q - 4 .A credit facility will be classified as NPA if_____remains past due for one quarter

Interest
Instalment
A or B
A & B

Q - 5 .Depending upon the place where the bills are made, they can be classified into

Inland Bills
Foreign Bills
Either a or b
None of these

Q - 6 .Rate applied for a foreign exchange transaction which involves immediate conversion of currency is known as ......

ready rate
forward rate
merchant rate
long rate

Q - 7 .Every public company, or a private company which is a subsidiary of a public company, having a paid-up share capital of Rupees ...... must have a managing or whole-time director or a manager.

1 Crore
5 Crores
1 Lakh
5 Lakhs

Q - 8 . In this type of payment transaction, all shipping documents, including title documents are handled directly by the trading parties. The role of banks is limited to clearing funds as require This statement is true for:

Clean payments
Bill for collection
Documentary Credit
None of these

Q - 9 .A Mortgage cannot be enforced in the absence of

Delivery of the title deeds
Legal Opinion
Narration in Title deeds register
Pecuniary obligation

Q - 10 .Usance bills drawn under Import LC should be retired ......

10 days from the date of receipt of the bill
on due date
last day of the month in which the licence expires
None of the above

Q - 11 .For outward remittance other than imports, the applicant should submit ......

Form A2
Form A1
Form A4
Form A3

Q - 12 .When any bank or financial institution creates a charge against property, with which authority the transaction will have to be registered under the SARFAESI Act, 2002?

With the Central Registry.
With the RO
With the Registrar of Assurances within whose jurisdiction the property lies.
With the Reserve Bank of Indi

Q - 13 .The account maintained by an our Foreign Branches / Correspondents with our domestic branch (in India) is known as ......

Loro a/c
Vostro a/c
Special a/c
Nostro a/c

Q - 14 .The bank through whom the credit is advised and who confirms the letter of credit when required and negotiates the documents tendered is called ......

Opening Bank
Foreign Bank
Advising Bank
None of these

Q - 15 .Imprisonment for money laundering can be ...... years

2 to 5
2 to 7
3 to 5
3 to 7

Q - 16 . A simple mortgage need be registered when

The Loan amount exceed Rs.100/-
Value of mortgaged property exceeds Rs.100/-
A or B whichever exceeds Rs.100/-
Both A & B

Q - 17 .For outward remittance other than imports, the applicant should submit ......

Form A2
Form A1
Form A4
Form A3

Q - 18 .When shares are issued at higher than the face value of the shares they are said to be issued at a

Discount-
Par-
Premium
None of the above

Q - 19 .A documentary letter of credit has normally ......

two parties
one party
four parties
no one

Q - 20 .Name the act that lays down the underlying regulations presently governing all foreign currency transactions in India

FEMA
RBI
BR
Foreign Exchange Act

Q - 21 .What is the tenure of banking ombudsman?

1 years
3 years
5 years
no such time limit

Q - 22 .Quarterly on-site visits are undertaken in respect of

all banks
urban co-operative banks
newly licensed banks during first year
None of these

Q - 23 .Opening stock of raw material is Rs.30 lacs, closing stock is Rs.50 lacs. Annual purchase is Rs.500 lacs. What is the average period of holding of Raw Materials?

2 M
1.5 M
1 M
NOA

Q - 24 .Liquid assets required to be maintained in India under Section 24 of the BR Act may be held in the form of .......

cash only
cash and gold only
gold or unencumbered approved securities
None of the above

Q - 25 .The necessary requirement for submitting need not contain?

it must be in writing and duly signed by the complainant and or authorized person.
it should contain the name address of the complainant.
it must contain the bank and branch name against which complaint is being made.
all the above

Q - 26 .The provision of Section 36AA of the BR Act regarding removal of managerial personnel have ...... over other laws.

no effect
overriding effect
persuasive effect
None of the above

Q - 27 .The minimum number of members required in a private & public companies are ......

2 & 5
7 & 20
2 & 7
5 & 20

Q - 28 .Branches should submit return of overdue import bills ......

monthly
quarterly
half yearly
fortnightly as on 15th & last working day of each month

Q - 29 .In case of bank guarantees on behalf of companies that is in liquidation the bank on invocation of the guarantee by the beneficiary.

must pay the amount to the Liquidator and not the beneficiary.
must deposit the amount in the court to avoid any controversy.
must pay the beneficiary.
need not pay, since the bank guarantee lapses on the company being liquidated

Q - 30 .If the sale of goods is by ...... there is an implied condition that the goods shall correspond with the description.

description
sample
oral agreement
written contract

Q - 31 .The bank is required to comply with the execution of the award of banking ombudsman within the bank is required to comply with the execution of the award of banking ombudsman within;

7 days
15days
30days
60days

Q - 32 .Analysis of balance sheet of a partnership firm shows that its total net worth is more than the total outside liabilities.

it can be termed as a desirable situation
it can be termed as an excellent and desirable situation
it reflects the conservatism on the part of the management
it reflects risk appetite of the management

Q - 33 .A person who makes a proposal is known as ......

promisor
principal debtor
surety
guarantor

Q - 34 .Bailment of goods as security for payment of a debt is called

Lien
Pledge
Hire
Mortgage

Q - 35 .Securitisation or SARFAESI Act is not applicable to assets

in possession of the creditor
charge on which is in favour of the creditor
both
none

Q - 36 .There is an FDR of A and B but A dies before its maturity. B also dies one week after his death. FD amount is payable to:

Legal heirs of A
Legal heirs of B
Legal heirs of A and B
legal heirs of the person who died later

Q - 37 .The transactions of the Bank undertaken to sell the surplus and buy the required foreign currencies in order to keep its position square are known as ......

cover operations
merchant transactions
exchange transactions
forward transactions

Q - 38 .A company has to obtain a ...... from the Reserve Bank to commence banking business in terms of Section 22 of the BR Act.

registration
license
commencement certificate
None of the above

Q - 39 .Name the authority which issues Import Export Code (IEC).

RBI
FEDAI
DGFT
EXIM BANK

Q - 40 .A hires a carriage of The carriage is unsafe but B is not aware of it and A is injure Then B is

Responsible for the injury
Not responsible for the injury
either a or b
None of these

Q - 41 .The requirement of execution of documents depends on:

Nature of credit facility.
Nature of security of loan.
Constitution of business.
All the above.

Q - 42 .The capital which is stated in the Memorandum of Association is known as

Memorandum Capital
Paid up capital
Authorised capital
Issued capital

Q - 43 .The bank through whom the credit is advised and who confirms the letter of credit when required and negotiates the documents tendered is called ......

Opening Bank
Foreign Bank
Advising Bank
None of these

Q - 44 .According to section 79A inserted by Companies Amendment Act 1999 ____ shares means equity shares issued by the company to employees or directors at a discount or for consideration other than cash for providing know how or making available right in the intellectual property rights or value addition, by whatever name called

Employees stock option
Equity shares
Sweat equity
None of the above

Q - 45 .In a government company the government holds at least ...... per cent.

12
15
50
51

Q - 46 .A person resident in India is a person who is residing in India for more than ...... in the preceding financial year.

180 days
182 days
6 Months
1 year

Q - 47 .An import licence is valid for :

12 months from the date of issue
18 months
upto the validity of import license and if no period is specified until 31st March of the licensing year.
no time limit

Q - 48 .The seller of goods is deemed to be an unpaid seller when the ...... has not been paid

price
interest
damages
penalty

Q - 49 .The minimum number of directors required in a private company is ......

3
7
12
2

Q - 50 .The buyer or importer who procures a letter of credit from his banker is called ......

opener of the credit
beneficiary of the credit
negotiator of the credit
none of these

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