MCQOPTIONS
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MCQOPTIONS
This section includes 30 Mcqs, each offering curated multiple-choice questions to sharpen your IBPS SO Law Quiz knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Provisions of section 12 of the Transfer of Property Act, 1882 |
| A. | Does not apply to lease condition in the benefit of the lessor |
| B. | Does apply to a condition in a lease for the benefit of lessor |
| C. | No such condition is made under such provision |
| D. | None of the above. |
| E. | Option a and c are correct. |
| Answer» B. Does apply to a condition in a lease for the benefit of lessor | |
| 2. |
A person is not put to his election, unless he has a proprietary interest in the property disposed off in derogation of his rights. This is the subject matter under provisions of: |
| A. | section 35 of the Transfer of Property Act, 1882 |
| B. | section 35 of the Indian Registration Act, 1908 |
| C. | section 35 of the Indian Succession Act, 1925 |
| D. | General Clauses Act, 1897. |
| E. | None of the above is correct |
| Answer» B. section 35 of the Indian Registration Act, 1908 | |
| 3. |
Under the provisions of section 9 of the Transfer of Property Act, 1882 the transfer includes- |
| A. | oral transfer |
| B. | written transfer only |
| C. | additional oral transfer |
| D. | Both (a) & (b) is correct. |
| E. | None of the above is correct |
| Answer» B. written transfer only | |
| 4. |
Under section 8 of the Transfer of Property Act, 1882 the legal incidents also includes – |
| A. | Machinery attached to earth and the moveable parts thereof |
| B. | Only machinery attached to earth |
| C. | Only moveable parts of the machinery attached to earth |
| D. | None of the above. |
| E. | Option a,b,c are correct. |
| Answer» B. Only machinery attached to earth | |
| 5. |
Under the provisions of section 6 of the Transfer of Property Act, 1882, no transfer can be made for an unlawful object or consideration within the meaning of section 23 of the Indian Contract Act, 1872 |
| A. | the statement is false |
| B. | the statement is true |
| C. | the statement is partly true |
| D. | None of the above. |
| E. | Section 23 is not mentioned in the Transfer of Property Act as it is mentioned in Indian Contract Act. |
| Answer» C. the statement is partly true | |
| 6. |
The committee of creditors may approve a resolution polan made by resolution professional by a vote of not less than _________ percentage of voting share of financial creditors. |
| A. | 50 |
| B. | 66 |
| C. | 75 |
| D. | 85 |
| E. | None of these |
| Answer» C. 75 | |
| 7. |
Any financial debt raised by the resolution professional during the insolvency resolution process period is known as _________ under Insolvency and Bankruptcy code 2016 |
| A. | Finance |
| B. | Interim finance |
| C. | Interim help |
| D. | Interim debt |
| E. | None of these |
| Answer» C. Interim help | |
| 8. |
Any person who submits a resolution plan to resolution professional is known as _________ under Insolvency and Bankruptcy code 2016. |
| A. | Applicant |
| B. | Resolution Applicant |
| C. | Resolution proposer |
| D. | Proposer |
| E. | None of these |
| Answer» C. Resolution proposer | |
| 9. |
Who prepares information memorandum under Insolvency and Bankruptcy code 2016? |
| A. | Resolution professional |
| B. | DRT |
| C. | NCLT |
| D. | RBI |
| E. | None of these |
| Answer» B. DRT | |
| 10. |
Appeal against the order of cancellation of certificate of registration of an asset reconstruction company is made to |
| A. | Central government |
| B. | SEBI |
| C. | Ministry of commerce |
| D. | Supreme court |
| E. | High Court |
| Answer» B. SEBI | |
| 11. |
Jurisdiction of civil court has been barred by which section of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002? |
| A. | Section 33 |
| B. | Section 34 |
| C. | Section 35 |
| D. | Section 36 |
| Answer» C. Section 35 | |
| 12. |
Which of the following is not a covered under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002? |
| A. | Regulation of securitisation and reconstruction of financial assets |
| B. | Enforcement of Security Interest |
| C. | Providing central database of security interest created in property rights. |
| D. | Regulating banking procedure |
| Answer» E. | |
| 13. |
After amendment in 2016 to Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 terms of “securitisation company and or reconstruction company” have been uniformly changed to _________. |
| A. | Asset Reconstruction Company(ARC) |
| B. | Securitisation company |
| C. | Reconstruction company |
| D. | Asset Reformation Company |
| Answer» B. Securitisation company | |
| 14. |
After amendment in 2016 to Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 “Qualified institutional buyers” are renamed as _________. |
| A. | Qualified buyers |
| B. | Qualified institutions |
| C. | Qualified creditors |
| D. | Has remained same |
| Answer» B. Qualified institutions | |
| 15. |
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 was made effective on _________. |
| A. | 21-06-2002 |
| B. | 22-06-2002 |
| C. | 23-06-2002 |
| D. | 24-06-2002 |
| Answer» B. 22-06-2002 | |
| 16. |
Who is the Adjudicating authority for individuals and firms under Insolvency and Bankruptcy code 2016? |
| A. | NCLT |
| B. | DRT |
| C. | SEBI |
| D. | RBI |
| Answer» C. SEBI | |
| 17. |
Who is the Adjudicating authority for corporate persons under Insolvency and Bankruptcy code 2016? |
| A. | NCLT |
| B. | RBI |
| C. | SEBI |
| D. | DRT |
| Answer» B. RBI | |
| 18. |
An Insolvency and Bankruptcy Board of India is established under section 188(1) of Insolvency and Bankruptcy code 2016 by _________. |
| A. | State government |
| B. | Central government |
| C. | RBI |
| D. | SEBI |
| Answer» C. RBI | |
| 19. |
Who was the chairman of Insolvency Law Committee setup on November 16th 2017? |
| A. | Shri Injeti Srinivas |
| B. | Justice Injeti Srinivas |
| C. | Justice Deepak Thakur |
| D. | Justice Gogoi |
| Answer» B. Justice Injeti Srinivas | |
| 20. |
Implementation of Insolvency and Bankruptcy code 2016 commenced on which date? |
| A. | 28-05-2016 |
| B. | 2-12-2016 |
| C. | 1-01-2017 |
| D. | 1-02-2017 |
| Answer» B. 2-12-2016 | |
| 21. |
In which of the following cases it was held that “disputes regarding recovery of debts due to cooperative banks are to be adjudicated by DRT and Registrar of Cooperative Societies has no jurisdiction to adjudicate upon the dispute”? |
| A. | M Babu Rao v. Dy. Registrar of Cooperative Societies |
| B. | Narendra Kantilal Shah v. Joint Registrar, Cooperative Societies |
| C. | Shamrao Vithal Coop Bank Ltd. V. Star Glass Works |
| D. | Greater Bombay Cooperative Bank v. United Yarn Text (P) Ltd. |
| Answer» B. Narendra Kantilal Shah v. Joint Registrar, Cooperative Societies | |
| 22. |
Which of the following is a public financial institution? |
| A. | IDBI |
| B. | LIC |
| C. | ICICI |
| D. | All of the above |
| Answer» E. | |
| 23. |
Which of the following is not included under financial institution under Recovery of Debts Due to Banks and FI Act 1993? |
| A. | Public Financial Institution within the meaning of section 4A of Companies Act. |
| B. | Asset Reconstruction Companies registered under SARFAESI Act. |
| C. | Debenture trustees registered with SEBI |
| D. | Cooperative societies registered under cooperative societies act. |
| Answer» E. | |
| 24. |
Which of these cannot make application to Recovery of Debt Tribunal? |
| A. | Bank |
| B. | Financial Institution |
| C. | Consortium of Banks or Financial Institutions. |
| D. | Individual person. |
| Answer» E. | |
| 25. |
Legal validity of Recovery of Debts Due to Banks and FI Act 1993 was upheld by 3 judge bench of Honourable Supreme Court in _________. |
| A. | UOI v. Delhi High court bar Association |
| B. | Horizon Flora India Ltd. V. Asset Reconstruction Co. India Ltd. |
| C. | Baleshwar Dayal Jaiswal v. Bank of India |
| D. | Vijay Laghu Udyog v. Punjab National Bank |
| Answer» B. Horizon Flora India Ltd. V. Asset Reconstruction Co. India Ltd. | |
| 26. |
Which section of SARFAESI act 2002 defines ‘debt’? |
| A. | section 2(1)(h) |
| B. | section 2(1)(ha) |
| C. | section 2(1)(i) |
| D. | section 2(1)(ia) |
| E. | none of the above |
| Answer» C. section 2(1)(i) | |
| 27. |
Which of the following is ‘debt’ under SARFAESI Act 2002 |
| A. | Debt as defined in section 2(1)(g) of RDDBFI Act 1993. |
| B. | Unpaid portion of the purchase price of any tangible assets given on hire or financial lease or conditional sale or any contract. |
| C. | Any right title or interest on any intangible asset which secures the obligation to pay any unpaid portion of purchase price of such intangible asset. |
| D. | a and c |
| E. | a, b and c |
| Answer» F. | |
| 28. |
Borrower is defined under which section of SARFAESI Act 2002 |
| A. | Section 2(1)(e) |
| B. | Section 2(1)(f) |
| C. | Section 2(1)(g) |
| D. | Section 2(1)(h) |
| E. | None of the above |
| Answer» C. Section 2(1)(g) | |
| 29. |
Which of the following are included in the definition of ‘bank’ under SARFAESI Act 2002? |
| A. | Banking company |
| B. | Corresponding new bank |
| C. | Subsidiary bank |
| D. | Multi state cooperative bank |
| E. | All of the above |
| Answer» F. | |
| 30. |
Which section of SARFAESI act defines “asset reconstruction company”? |
| A. | Section 2(1)(b) |
| B. | Section 2(1)(ba) |
| C. | Section 2(1)(a) |
| D. | Section 2(1)(ab) |
| E. | None of the above |
| Answer» C. Section 2(1)(a) | |