Q11. A trust has three trustees. The trustees operate the trust account jointly. One of the trustees now dies and there are no provisions in Trust Deed to overcome
this
situation. In such a case, ___________________
1)
The surviving trustees may operate the account jointly
2)
All the surviving trustees together with legal heirs of the deceased trustee
may operate the account
jointly
3)
Bank will stop operations in the account until it receives orders from the
court
4)
Bank will distribute the entire balance of the account to the surviving
trustees in equal proportion,
and
close the account
Q12.
ABC Co’s request for a bank licence has been rejected by RBI after
examination.
Then ABC company _______________
1)
is ineligible to carry on banking business
2)
can carry on with the banking business after a period of six months
3)
Since it is a public limited company there is no need for any licence for new
business
4)
none of the above
Q13.
A director in a bank cannot hold office continuously for more than
____________
1)
10 years
2)
8 years
3)
5 years
4)
no such restriction
Q14.
Debt recovery tribunals have been established to expedite the cases pending
with
the judicial system. These are _____________
1)
Created in all states
2)
Created at the rate of one for each state
3)
They are functioning from the same date everywhere
4)
Created depending upon the number of pending cases with recoverable amounts in
excess of Rs. 10
lacs and it may cover more than one state
Q15.
Bank K has advanced to a Limited Company. Initially the company was doing well.
For one reason or other the company went into liquidation and the Official
liquidator
has taken over the assets of the company to settle the liabilities on pro rata
basis. He will have an access to the assets secured by the banker as well. Can this
be true?
1)
1
2)
0
3)
True, provided the banker has not got the registration done within the
stipulated time and the
manner
in which required as per the provisions of the Companies Act
4)
Once the documents are taken and the bank has the right on the assets secured,
non registration
or
registration will not alter the position. The banker only will have the
exclusive right
Answers:
