Q6. Banking Regulations Act prohibits a banking company from holding an
immovable
property, howsoever acquired, except for its own use, ____________
1)
for a period exceeding seven years which may be extended to another 3 years if
such extension is
in
the interests of depositors
2)
for a period exceeding five years which may be extended to another 5 years if
such extension is in
the
interests of depositors
3)
for a period exceeding seven years which may be extended to another 2 years if
such extension is
in
the interests of depositor
4)
for a period exceeding seven years which may be extended to another 5 years if
such extension is
in
the interests of depositor
Q7.
The liability of the surety is co-extensive with that of the principal – debtor
but
the
action can first be taken only against ___________
1)
Principal debtor
2)
Assets of the principal debtors
3)
Expend all remedies against principal debtor
4)
Either principal debtor or the surety
Q8.
In case of bank guarantees when the bank makes payment, choose the right
answer
from the following choices:
1)
being convinced that the beneficiary has incurred loss
2)
on being sued by the beneficiary
3)
on the guarantees being invoked and after seeking concurrence of the debtor
4)
merely on demand by the beneficiary.
Q9.
Which of the following terms is not related with the Bills of Exchange Act?
1)
Holder in due course.
2)
Payment in due course.
3)
Negotiation.
4)
Assignment.
Q10.
Any business unit which wants to undertake the business of Securitisation
has
to __________
1)
obtain a licence from RBI
2)
obtain a licence from SEBI
3)
obtain a licence from GOI
4)
no such requirement
Answers:
