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jaiibcaiibexams

LEGALASPECTSOFBANKING

01.ABlueChipmeansa)ExcellentManagementProfessionalb)SharesofgoodCompaniesc)ReinforcedConcreted)BlueColouredPreciousStones

02.ABridgefinanceisextendedforovercominga)Delayingettingofthepublicissueb)Delayindisbursementoftermloanc)Delayindisbursementofworkingcapitalforcompletingthe

documentationd)ForA&Be)A,B&C

03.AsperSEBIguidelines,anyentity/personengagedinthemarketingandsellingofmutualfundsproductsisrequiredtopassacertificationtestandobtainaregistrationnumberfromcaseofa)SEBI(SecuritiesandExchangeBoardofIndia)b)AMFI(AssociationofMutualFundsinIndia)c)NSE(NationalStockExchange)d)A,B&C

04.InterestchargedinadvanceaccountsasperRBIdirectivecannotbesubjecttoscrutinybycourt.Thisisprovidedina)Section35AofBRActb)Section21(A)ofBRActc)OfBRActd)Section26ofRBIAct

05.Afloatingchargemeansa)Chargeatthetimeorbeforethecompanyisfloatedb)Chargeonallfloatingassetsofthecompanyc)Anequitablechargeonallassetsofthecompanyd)Anyoftheabove.

06.ThechargebywayoflienovergoodsbelongingtoacompanymustberegisteredwithRegistrarofCompanieswithinaperiodofa)30daysofcreationoflawb)Thischargeneednotberegisteredasthisisnothypothecation,mortgage

etcc)30daysofdefaultinrepaymentd)AorCwhicheverisearlier

07.Hypothecationisdefinedina)HypothecationActb)IndianContractActc)TransferofPropertyActd)SARFAESIAct

08.TheStateGovt.wantstoseizethegoodspledgedtobankastheborrowerhas

HomeMODELQUESTIONSJAIIBprinciplesLEGALASPECTSOFBANKINGACCOUNTINGANDFINANCEFORBANKERSJAIIBCONCEPTS2012CAIIBBASELIICONCEPTSANDOTHERASPECTSSomeoftheimportantaspectsrelatingtoCRRandSLR.importanttips

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defaultedinpaymentoftax.Inthiscase,a)Govtduesenjoyspriorityoverbankduesb)BankduesenjoyspriorityoverGovernmentduesc)Bothenjoysequalpriorityd)TheGovernmentcannotseizethegoods.

09. The auctionable claim is assigned in favour ofmore than one assignee atdifferentpointsoftime.Thepriorityofchargeisdeterminedwithreferencetodateof

a)Executionofnoticeofassignmentb)Executionofthewritteninstrumentforassignmentc)Receiptofnoticeofassignmentd)NoA

10.AMortgagecannotbeenforcedintheabsenceof

a)Deliveryofthetitledeedsb)LegalOpinionc)NarrationinTitledeedsregisterd)Pecuniaryobligation.

11.Asimplemortgageneedberegisteredwhena)TheLoanamountexceedRs.100/b)ValueofmortgagedpropertyexceedsRs.100/c)AorBwhicheverexceedsRs.100/d)BothA&B

12.AMortgageofthemortgagedpropertyiscalleda)Submortgageb)SecondMortgagec)Remortgaged)FraudulentMortgage

13.Fordeterminingtheadvanceamounttheshareswillbevaluedonthebasisofa)Currentmarketpriceb)Averagemarketpriceforthelast12monthsc)FaceValued)AorBwhicheverislower.

14.AssignmentofLICpolicyisdoneaspersectionof.Act.a)132ofTransferofPropertyActb)38,IndianInsuranceAct1938c)138ofContractActd)NOA

15.GovernmentPromissorynotesshouldbesenttopublicdebtofficetoconfirmgenuinessofa)ThePromissorynoteb)Endorsementc)Alternations,ifanyd)Alltheabove.

16.GoldLoansaregivenonlytoproperlyintroducedpersonsbecauseofa)RBIsdirectivesb)Bankwilllosetherighttosellthegoldifthepledgeestitleisdefectivec)Sec.131ofNegotiableInstrumentActd)Alltheabove.

17.Reservecreatedoutofprofitfrombusinessoperationisknownasa)CapitalReserveb)ProfitReservec)RevenueReserved)FreeReserve

18.ThefollowingisaTermLiabilitya)DebenturespayablewithinayearfromthedateofBalanceSheetb)PreferenceSharespayablewithinaperiodofoneyearfromthedateof

AccountingConceptsANDIMPORTANTQUESTONSThefollowingarethegenerallyacceptedAccountingAssumptions.1)Conceptsattherecordingstage.Theseareconceptstobeobserve...

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BalanceSheetc)TermLoaninstalmentspayableinayeard)Depositfrompublicpayablein2yearstime.

19.InvestmentinSharesofothercompaniescanbeclassifiedasCurrentAssetonlywhenthe

sharesarea)Quotedb)Relatetotradeinvestmentc)A&Bd)SharescannotbeclassifiedasCurrentAssets

20.ThefollowingisnotusuallyclassifiedasOtherNonCurrentAssetsa)AdvancegiventoDirectorsb)TenderDepositc)Receivableoutstandingbeyond12monthsd)PreliminaryandPreoperativeexpenses

21.AunitisshowinganetprofitofRs.46,000/.DividendreceivedRs.8000/.Operating

expensesisRs.96000/.Findthegrossprofita)134000b)150000c)142000

22.AfirmpaidRs.16lacsforpurchaseofabusinesswithmachineryworthRs.10lacsand

otherassetsworthRs.4lacs.InthiscasethedifferenceofRs.2lacsistreatedas

a)P&LLossonpurchaseofassetb)GoodwillIntangibleAssetc)FixedAssetbyinflatingthevalueoffixedassetd)CurrentAssetbyinflatingthevalueofcurrentasset

23.IfasumofRs10,000/accumulatestoRs16,000/after3yearsatsimpleInterest,whatistherateofInterest.

a)16%b)25%c)23%d)20%

24.TheNetWorkingCapitalreferstoa)Liquidsurplusb)BorrowersContributionsfromlongtermsourcetoshorttermusec)ExcessCurrentAssetoverCurrentLiabilityd)Alltheabove.

25.Thedurationofanoperatingcyclein30days.Theoperatingcycleinthiscaserepeats.timesayeara)30timesb)12timesc)10timesd)52times

26.Thefollowingisnotachargeablecurrentassetsa)Bookdebtb)Sparesc)Workinprocessd)Constructionworkinprogress

27.AsperRBIguidelines,abankisrequiredtoassesstheworkingcapitalonthebasisofthefollowingmethoda)TurnoverMethodb)CashBudgetMethodc)MPBFofTandonMethodd)AnyMethodasdecidedbytheindividualbanks

28.AspertheSecondmethodoflendingtheborrowerscontributionfromlongterm

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sourcea)isminimum25%oftotalcurrentassetsb)isrestrictedto25%ofworkingcapitalgapc)is25%ofothercurrentliabilitiesd)anyamountwhichtheunitcanbring

29.TotalCurrentAssetofaunit isRs.300lacs.OtherCurrentLiabilities isRs.200lacs.TheMPBFasperIstMethod&2ndmethodcanbea)75and25lacsb)25lacsand75lacsc)Rs.100lacs&Rs.150lacsd)Rs.20lacs&Rs.80lacs

30.Aborrowerneednotbringanymatchingcontributionfromlongtermsourcesinrespectofa)ExportReceivablesb)Finishedgoodsproducedforaspecificexportorderc)Adhoclimitsd)A&B

31 A Companymakes a single productwith a sales price of Rs.10/ and amarginalcostofRs.6/.FixedCostareRs.60000/p.a.Inthiscase,Numberofunitsatbreakeven

a)15000b)10000c)6000d)noneoftheabove.

32.Intheaboveproblem,ProfitVolumeRatioa)30%b)40%c)50%d)60%

33.Thelongtermuseis120%oflongtermsource.Thisindicatestheunithasa)CR1.2b)NegativeTNWc)LowCapitald)NegativeNWC

34.TangibleNetworthiscomputedbya)TotalTangibleAssetlessoutsideliabilitiesb)Capital,freereserves&surpluslessIntangibleAssetc)NetworthlessIntangibleAssetd)Alltheabove.

35.AcompanyhasanetworthofRs.5 lacs.Term liabilityRs.10 lacs,FixedAssetofRs.16 lacsandCurrentAssetRs.25 lacs.There isno intangibleassetorONCA.It'snetworkingcapitalis

a)Rs.10lakhsb)Rs.1lakhc)Rs.9lakhd)Rs.()1lakh

36.Financialleveragemeansa)useleveragedleasetoplantaxliabilityb)Highdegreeofsolvencyc)Lawbankfinanced)Useofmoredebtcapitaltoincreaseprofit.

37.Diversionmeansa)Diversifyingtoactivitiesnotrelatedtomainbusinessb)Retrenchingemployeesc)UseofCurrentAssetsforpaymentofTermLiability

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d)UseofCurrentLiabilitiesforlongtermuse

Examinethefollowingbalancesheettoanswerthequestionthereafter:

LiabilityAsset

Less:Dep200PreferenceShareCapital100NetBlock800Termloan600Inventory300BankOverdraft400InvestmentinGovt.security50SundryCreditors 100 Preliminaryexpenses 100Receivables150 14001400

38.CapitalGearingRatioa)0.78b)1.20c)0.67d)0.87

39.DebtEquityRatioisa)2:1b)3:1c)4:1d)1:1

40.TotalOutsideLiability/TNWa)3.67:1b)5.50:1c)12:1d)6:1

41.Networkingcapitala)100b)NILc)200d)Cannotbecalculated

42.QuickRatioa)0.4:1b)2.1:1c)1.5:1d)1:1

43.TotalTangibleAsseta)1400b)1300c)1500d)1600

44.OpeningstockofrawmaterialisRs.30lacs,closingstockisRs.50lacs.Annualpurchase is Rs.500 lacs. What is the average period of holding of RawMaterials?a)2Mb)1.5Mc)1Md)NOA

EquityCapital200GrossBlock1000

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45.HoldingperiodofReceivablesiscalculatedwithreferencetoa)CostofSalesb)CostofProductionc)GrossSalesd)NOA.

46.CreditorsVelocityexpressesthea)Maximumperiodforwhichcreditisgivenb)Averageperiodofcreditenjoyedc)Minimumperiodofcreditgivend)Minimumperiodforwhichcreditenjoyed.

47.ThefollowingisaMeansofFinanceforthecostofprojecta)Leasingb)Subsidyc)DeferredCreditfromSuppliersd)Alltheabove.

48.ForalargeandmediumunitsDSCRshouldbea)Maximum2:1(b)Maximum1.5:1c)Minimum2:1(d)Minimum1.5:1

49.VariableCostandSalePriceremainingthesame,ariseinfixedcostresultina)HighBEP(HighBreakevenpoint)b)LowBEPc)HighMarginofSafetyd)B&C

50.WhatistheformulaforchargingcompoundinterestwithAnnualCompounding.a)I=Pnrb)P+Ic)A=P(1+r)nd)Anyofthe3

51.Whatistheminimumperiodtobeallowedtodraweetodecideonacceptance/rejectionsof

ausancebilla)2Daysb)48Hoursc)48Hrsincludingpublicholidaysd)48hrsexcludingpublicholidays

52.RameshdepositedRs10,000/for3years.TheInterestiscompoundedannuallyat 10% . What will be the amount receivable by Ramesh at the end of 3 yearperiod.

a)13,310b)13,000c)12,000d)13,300

53. Whilecalculating thevalueof(1+.10)3 (to thepowerof3) the samecanbecalculated

a)manuallyb)usingcalculatorc)usingMSExceld)alltheabove

54.Annuitiesarea)Theannualinterestpayableorreceivableinadebtoraninvestment.b)Lumpsumpaymentmadeanytimeduringthecourseofafixedperiodof

time.c)Thetotalamountpayableannuallyinrespectofadebtorinvestmentd)Seriesofpayments(manynumberofcashflows)madeataspecified

frequencyoverthecourseofafixedperiodoftime55.AnAnnuityisanordinaryAnnuityif,

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a)Paymentsarerequiredtobemadeatthebeginningofeachperiod.b)Paymentsarerequiredtobemadeatthemiddleofeachperiodc)Paymentsarerequiredtobemadeatordinaryinstallmentsd)Paymentsarerequiredtobemadeattheendofeachperiod.

56.TheMarineInsurancePolicyshouldbeexpressedina)Rupeesb)USDollarsc)SameCurrencyinwhichtheLCisdrawnd)Anyforeigncurrency.

57. The discount rate which equals the present value of promised flow to thecurrentmarketprice/purchaseprice.Thisisknownas

a)Yieldtomaturityb)NPVc)IRRd)Treasurybills

58.Thevaluewhichthebondholdergetsonmaturityiscalleda)Maturityvalueb)NAVc)theredemptionvalued)IRR

59.Thisistheamountbywhichanassetisexpectedtoloseitsvalue.Whatisthisa)Marketvalueb)Wearandtearc)Depreciationd)NAP

60.EEFCcanbeopenedina)Rupeesb)Anyoneofthefourdesignatedcurrenciesc)Oneofthepermittedcurrenciesd)AMUS

61.Amethodofcalculatingdepreciationofanasset,whichassumesthattheassetwillloseanequalamountofvalueeachyearisknownasa)Salvagevalueb)Depreciationc)StraightlineMethodofcalculationd)AccumulatedDepreciation

62. A credit facility will be classified as NPA if remains past due for onequarter

a)Interestb)Instalmentc)AorBd)A&B

63.AsperPrudentialAccountingNormsprescribedbyRBI,assetsareclassifiedintotype

a)3b)8c)4d)5

64.ThehomecurrencypriceofoneunitofaforeigncurrencyisquotedegUSD1=Rs43.20

a)Indirectquotationb)Exchangeratec)RateofUSDd)Directquotation

65. If the rate of a currency A is known in terms of currency B and rate of

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CurrencyBintermsofCurrencyC,wecanderivetherateofcurrencyA intermsofCurrencyCusingthetechniqueofcrosscurrency.

a)Exchangerateb)Crossratec)Forwardrated)Noneoftheabove

66.AsperNABARDguidelinestheminimumInternalRateofReturnforAgriculturalProjectis

a)15%b)25%c)30%d)18%

67.IncaseofDirectquotationiftheforwardrateismorethanspotratethebasecurrencyiscalledasbeingat

a)Discountb)Forwardratec)Spotrated)Premium

68.Anoperationbywhichonecanmakeriskfreeprofitsmakinguseoftheinterestdifferentialsbetweentwoplacesiscalled.

a)Openmarketoperationb)Profitabilityc)Freemarketd)Arbitrage

69.Iftheforwardrateislessthanthespotratethebasecurrencyissaidtobeata)Discountb)Premiumc)Atpard)Noneoftheabove.

70.Theamountwhichtheownerofthebusinesshasinvestedinthefirmandcanclaimfromthefirmisknownasa)Capitalb)Loanc)TermLoand)FixedAsset.

71.Theamountwhichthefirmowetooutsidersa)Assetsb)Capitalc)Liabilitiesd)Intangibleassets

72. A personwhoowesmoney to a firm ,mostly on account of credit sales ofgoodsiscalled.a)Creditorb)Debtorc)Borrowerd)lender

73. The balance sheet represents an expansion of the equation as Assets =Liabilities+CapitalThisstatementisa)Cannotbereliedb)falsec)Notacceptabled)True

74.Assetsminusoriginalcapital=Liabilitya)Trueb)Falsec)canbeacceptedd)Noneoftheabove.

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75.Ifafirmborrowsmoneyitscapitalwouldbereduceda)Thisstatementisfalseb)Thisstatementistruec)Thesameisacceptabled)Noneoftheabove

76. is the value of an established business over and above the valuerepresentedbyitstangibleassets.

a)Assetsb)Liabilitiesc)Goodwilld)Noneoftheabove.

77.Ifthepartnershipdoesnotmentionanymethodofmaintainingcapitalaccountthenmethodofcapitalhastobeused.

a)Fluctuatingcapitalaccountb)PartnersCurrentaccountc)Capitalaccountd)Fixedcapitalaccount

78.Thejoiningofanewpersonintotheexistingpartnershipasapartneriscalleda)Retirementofapartnerb)Resolutionofapartnershipc)Goodwilld)Admissionofapartner

79.Underthecapitalmethodtwoaccountsaremaintainedforeachpartnervizcurrentaccountandcapitalaccount.

a)FixedCapitalMethodb)Fluctuatingcapitalmethodc)EquitycapitalMethodd)Preferencesharecapital

80.AspernewguidelinesbothSLRandnonSLRsecuritiesaretobeclassifiedinto

a)Heldtomaturity.b)Availableforsalec)Heldfortradingd)Alltheabove.

81.AmountofInvestmentunderSecuritiesheldtomaturityshouldnotexceedofBankstotalinvestment

a) Twenty percentage of the Banks total investment (20% of totalinvestment)

b)TwentyfivepercentageoftheBankstotal investment(25%oftotalinvestment)

c) fortyninepercentageof theBanks total investment (49%of totalinvestment)

d) forty percentage of the Banks total investment (40 % of totalinvestment)

82.TheformofBalancesheetandProfitandlossaccountofaBankingCompanyisprescribedinformsAandBofscheduleoftheBankingRegulationAct1949.

a)Secondb)Thirdc)Firstd)Fourth

83.TheCompaniesActprohibitsissueofanypreferencesharethatisa)cumulativeb)redeemablec)bothaandb

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d)Irredeemable84.ThecapitalwhichisstatedintheMemorandumofAssociationisknownas

a)MemorandumCapitalb)Paidupcapitalc)Authorisedcapitald)Issuedcapital

85.Authorisedcapitalisalsoknownasa)NominalorRegisteredCapitalb)Equitycapitalc)Preferencesharecapitald)Alltheabove

86. Whensharesare issuedathigher than the facevalueof theshares theyaresaidtobeissuedata

a)Discountb)Parc)Premiume)Noneoftheabove

87.Issueofsharesatadiscountshouldbeauthorizedbythemembersbypassingaresolution

inthegeneralmeetingandresolutionofmembersshouldspecifytherateofdiscountwhichshouldnotexceed10%ofthefacevalueofthesharesFurtherthisissubjectto

a)ObtentionofsanctionfromCompanyLawBoardb)Thesesharesmustbeissuedwithin2monthsc)Both(a)and(b)d)Noneoftheabove

88.Accordingtosection79AinsertedbyCompaniesAmendmentAct1999shares meansequity shares issuedby thecompany toemployeesordirectorsatadiscountorforconsiderationotherthancashforprovidingknowhowormakingavailablerightintheintellectualpropertyrightsorvalueaddition,bywhatevernamecalled.

a)Employeesstockoptionb)Equitysharesc)Sweatequityd)Noneoftheabove.

89.Aschemeunderwhichthecompanygrantsoption(Arightbutnotanobligation)toan employee to apply for shares of the company at a pre determined price isknownas

a)EmployeesStockOptionScheme(ESOS)b)Equitysharesc)SweatEquityd)Noneoftheabove.

90. The formation of a company is governed by the rules and regulations ascontainedin

a)IndianCompaniesActb)RBIactc)BRActd)Noneoftheabove.

91.ProfitandLossAccount isoneoftheFinalAccountspreparedbyaCompany.Whatistheotherone.

a)SchedulestoP&Laccountsb)Balancesheetc)TradingAccountd)Noneoftheabove.

92.Liabilitiesthatwillariseonthehappeningofcertainevent

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a)Currentliabilitiesb)TermLiabilitiesc)ContingentLiabilitiesd)Noneoftheabove

93.ScheduleVIoftheCompaniesActprescribestheformofa)Balancesheetb)TradingAccountc)Balancesheetd)Noneoftheabove.

94. A computerAccounting system runsbasedona setof instructions called thesoftware programmesdevelopedbyapersonwho isa computer softwareprofessionalandheiscalled

a)Programmerb)SoftwareEngineerc)ITmand)Noneoftheabove.

95. Accounting softwaremaybewritten in any one of the computer languagessuchas

a)Windows,UNIXetcb)JAVAC+etcc)COBOL,Foxproetcd)Noneoftheabove.

96.Computersarebasicallyclassifiedintoa)AnalogueComputersandDigitalcomputersb)Hardwareandsoftwarec)WiproandInfosysisd)Alltheabove

97.ACustomerServiceMeetshouldbeorganizedateveryBrancha)OnceinaFortnightb)OnceinaQuarterc)OnceinaMonthd)OnceinaHalfYear

98.WhocannotfileacomplaintunderConsumerProtectionAct?a)Banksb)StateGovernmentc)PublicInterestLitigationGroupd)Personsreceivingservicesfreeofcharge

99.BankingOmbudsmanisappointedbya)CentralGovernment/MinistryofFinanceb)StateGovernmentc)IDBId)RBI

100.DRThasjurisdictionrelatingtocasespertainingtoBanks,FinancialInstitutionswithdebt

amountofa)Rs.1lakhandaboveb)Rs.5lakhandabovec)Rs.10lakhandaboved)Rs.20lakhandabove

ANSWERS

1)b2)d3)b4)b5)c6)b

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