IIBF & NISM Adda

4/24/2019 IIBF & NISM Adda : MSME Very important MCQs
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IIBF & NISM Adda

IIBF certifications/JAIIB/CAIIB /NISM/MOODY’S/NIBM /NCFM
Wednesday, 11 July 2018 Blog Archive

Join us : ► 2019 (170)
MSME Very important MCQs ▼ 2018 (1042)
Blog link ► 12/30 - 01/06 (9)
https://iibfadda.blogspot.c ► 12/23 - 12/30 (16)

om/?m=0 MSME Very important MCQs
► 12/16 - 12/23 (15)
1. Which sector TUF applies to? a)Textile* b)Shoe manufacture, c)Food
https://www.facebook.c processing, ► 12/09 - 12/16 (10)
om/groups/iibfcertificat d)Glass manufacture ► 12/02 - 12/09 (28)
ions/ 2. Which one of the following institution has initiated Project uptech scheme?
► 11/25 - 12/02 (32)
a)SIDBI, b)SBI*, c) IDBI, d)TIFAC
3. Market failure refers to : a) Imperfect markets, b)Perfect markets*, c)Traditional ► 11/18 - 11/25 (15)
This is my favourite
markets ► 11/11 - 11/18 (14)
quote from childhood....
""Be not afraid of going d)Both (a) and (b) above
► 11/04 - 11/11 (11)
slowly, but be afraid only
of standing still"" ► 10/28 - 11/04 (14)
► 10/21 - 10/28 (13)

Meaning: It does not
matter how slow you go 4. Which one of the following factors is not included in the Market Gap? ► 10/14 - 10/21 (25)
as long as you don't
a)Innovations, b)Lack of capital, c)Lack of premises, d)Technology* ► 10/07 - 10/14 (14)
stop...
5. BDS Supervisor is known as : a) Facilitator, b)Team Leader, *c) Correspondent
► 09/30 - 10/07 (42)
,
d)Group leader ► 09/23 - 09/30 (11)
Visit for mock tests
jaiibcaiibmocktest.com 6.Under the Revised RBI Guidelines on Priority Sector Lending, loans to food and ► 09/16 - 09/23 (27)
agro
https://iibfadda.blogspot.com/2018/07/msme-very-important-mcqs.html 1/18
processing units are classified under a) Agriculture *b) MSME c) Others d) None ► 09/09 - 09/16 (25)
7. Under the Revised RBI Guidel ines on Priority Sector Lending, loans to
► 09/02 - 09/09 (33)
medium enterprises are not included for the purpose of reckoning of advances
Search This under the priority sector. a) True b) False* ► 08/26 - 09/02 (50)
Blog 8. Bank loans up to per unit to Micro and Small Enterprises and to Medium ► 08/19 - 08/26 (47)
Search Enterprises under services sector are classified under priority sector. a) Rs 5 and
► 08/12 - 08/19 (24)
10
crore* b) Rs 10 and 15 crore c) Rs 10 and 5 crore d) Rs 15 and 10 crore ► 08/05 - 08/12 (55)
SEARCH 9. The quantum of loan limit under the revised General Credit Card (GCC) ► 07/29 - 08/05 (20)
ABOUT: Scheme is
► 07/22 - 07/29 (46)
a) 1 lakh b) 2 lakh c) 5 lakh d) no ceiling on the loan amount*
All Exam PDFs (36)
10.The maximum claim settlement under Credit Guarantee Trust Scheme for ► 07/15 - 07/22
Banking Awarness Micro and (101)
(124)
Small Enterprises (CGTMSE) is at Rs lakhs. a) 50 b) 62.5 c) 75 d) 200* ▼ 07/08 - 07/15 (57)
CAIIB (209) 11. MSME loans covered under Guarantee Fund Trust for Micro and Small MSME information
CAIIB ABM (52) Enterprises for MUDRA
CAIIB BFM (172) (CGTMSE) attracts risk weight for capital adequacy purpose: a) Five b) Fifty c)
FEDAI Imp points
Hundred d) Zero*
CAIIB electives (38) All the best for
12. Provisioning requirements in respect of Standard Assets under Direct
CAIIB Fianancial your exam
Advances to
Advising (2)
agriculture and SME Sectors : a) A general provision of 0.1% of total outstanding MSME related
CAIIB IT Elective (16) abbreviations
b) A general provision of 0.25% of total outstanding,* c) A general provision of
CAIIB RETAIL (42) 0.4% of total outstanding d) No provision is required to be made Most important
13. The rate of subsidy under PMEGP scheme ranges from ___% to ___% : a) banking terms
Certified Accounting & for every
Audit Professional (3) 10& bankers
Current Affairs (13) 15 b) 15 & 20 c) 15 & 35* d) 20& 40
Types of Banking
14. Advances to MSMEs up to Rs crore may be done on the basis of credit
Daily content updates
(22) scoring MSME special
model. RBI Notification
Forex (49)
a) 1 b) 2* c) 3 d) 4
General Guidance (7) Imp banking terms
15. The Chairman of Committee on Financial Architecture for Micro, Small and
IIBF BCSBI&CS (21) Medium Enterprises (MSME) sector set up by Government of India is Most important for
a) M V Nair b) K C Chakrabarty c) UshaThorat d) K V Kamath* bankers
IIBF Certifications and
Blended Courses (60) 16. The small finance bank shall primarily undertake finance to the following Indicators for
entities suspicious
IIBF Certified Credit
transactions::::
Officer (71) a) unserved and underserved sections ,b)small business units, c) unorganized
sector ,d) micro and small industries, e) all the above*
IIBF Cyber crime and 17. MUDRA stands for : a)Metropolitan and Urban Development Regulatory COMMITTEES
Fraud management (16) Authority ON ADVANCES
& PRIORITY
IIBF Digital Banking (15) b)A scheme under Ministry of AYUSH
SECTOR
c)Micro Units Development and Refinance Agency* ,d)None of the above
IIBF Information System MUDRA MSME
banker DISA (10) 18. As per RBI guidelines, a MSME unit is treated as sick when
a) any of the borrowal account of the enterprise remains NPA for three months or Types of Credit
IIBF International Trade
more Facilities
Finance (12)
b) There is erosion in the net worth due to accumulated losses to the extent of TYPE OF
IIBF IT Security (19)
50% of its net CUSTOMERS
IIBF KYC AML (61) worth, c) Any of the borrowal account of the enterprise remains NPA for 6 months CGTMSE full
IIBF Microfinance (7) or more. d) a and b* details
IIBF MSME (64) 19. Micro (manufacturing) enterprises are defined as those whose original
Development
investment in Plant and Commissioner
IIBF Notices (4)
machinery do not exceed Rs. ... a) 5 lakhs b) 10 lakhs c) 25 lakhs *d) 50 lakhs (DC-MSME)
IIBF Risk Management 20. Under the proposed MSMED Amendment Bill, 2014, the revised investment Schemes :::
(42)
limit in plant and Micro, Small &
IIBF Treasury machinery for micro (manufacturing) enterprises is at Rs Medium
Management (27) Enterprises
a) 25 lakhs b) 50 lakhs *c)75 lakhs d)100 lakhs (MSME) Sector
Insurance (9)
Ve...
JAIIB (102)
BCSBI Lending
JAIIB AFB (21) 21. Under the Debt Restructuring Mechanism for MSMEs, the following entities
will be considered. BCSBI
JAIIB LEGAL (23)
a) All non-corporate MSMEs irrespective of the level of dues to banks. MSME DRTs
JAIIB PPB (45) b) All corporate MSMEs, which are enjoying banking facilities from a single bank,
MSME
Let's Update! (1) irrespective of the ABBREVIATIO
Moody's Certifications level of dues to the bank. NS
(4) c) All corporate MSMEs, which have funded and non-funded outstanding up to
IT SECURITY
Most Important for Rs.10 crore under
Knowledge (108) multiple/ consortium banking arrangement, d)All the above* Security standards
and best
Motivation (13) 22. The Code of Bank's Commitment to MSE's which set minimum standards of practices
banking and practices
NISM (14) IT SECURITY
for banks to follow when they are dealing with MSEs has been formulated by Software testing
NISM VA (2) a)BCSBI* b) SIDBI c)
Promotion exam (38) RBI d) GOI PHYSICAL AND
ENVIRONMEN
RBI notifications (1) 23. Which agency provides subsidy for credit rating of SMEs TAL SECURITY
(a) SIDBI (b) DIC (c) NSIC *d) SMERA IT SECURITY
24. Banks are mandated not to accept collateral security in the case of loans upto EX...
Recollected Questions Rs. extended to units IS Governance

for all exams (74) in the MSE sector. a) 25 lakh b) 10 lakh* c) 5 lakh d) 1 lakh
Corporate IT
Specialized posts (1) Security Policy
MSME Very
important
Important Web MCQs
sites 25. The quantum of loan limit under the revised General Credit Card (GCC)
PMEGP MSME
Scheme is
RBI
a) 1 lakh b) 2 lakh c) 5 lakh d)no ceiling on the loan amount* Role of MSMEs
https://www.rbi.org.in/
IIBF 26. The concept of teaching adults is called : a) Anagogy, b) Andragogy*, c) Basic Principles of
http://www.iibf.org.in/ Pedagogy, d) Mystagogy Information
IRDA 27. An individual needs the following to perform a task (i) Security:
https://www.irdai.gov.i Knowledge (ii) Skill (iii) Attitude iv) All of these* IS AUDIT ...IT
n/Defaulthome.aspx? 28. The first step in training design is the identification of a) Trainee b) Training SECURITY
page=H1 Needs* Information and
SEBI network
c) Training Institution d) Training Materials
https://www.sebi.gov.in security very
29. Active Methods of Training are, a)Lecture, b)Group Discussion, c)
/ important
BCSBI Demonstration, d)Case Study
i) a,b,c ii) b,c,d iii) b,d* iv) a,b,c,d BUSINESS
http://www.bcsbi.org.in CONTINUITY
/ 30. Training can solve all performance problems : a) True b)False* PLANNING ..IT
Income Tax 31. Make in India programme aims : a) To increase GDP growth b) To increase SECURITY
https://www.incometaxindi tax revenue.
COMPANIES &
a.gov.in/Pages/default.asp c) Aims at high quality standards, d) Minimizethe impact on the environment, e) PARTNERSHIP
x All of these* ACT 1. A
modification of
32. Governing Council of Skill India Mission is Chaired by a) MSME Minister b)
c...
Finance Minister
c) Prime Minister* d) Deputy Chairman of NITI Ayog STAMP ACT 1.
Under the
33. What is eBiz? Indian Stamp
a) A single window IT platform for services of all Central GovtDepts and Act, stamping ...
Ministries**
CONTRACT ACT
All IIBF Certifications b) A single window IT platform for services of all State GovtDepts and Ministries 1. A mandate
PDFs in single link c) A single window IT platform for services of all International Agencies ,d) None may not
All IIBF Certifications continue to be
of these
PDFs in single link o...
Read corresponding 34. What is NICDA?
IIBF book 1st Macmillan a) National Institute for Coal Development Authority COPRA &
/ Taxmann. These all OMBUDSMAN
b) National Industrial Corridor Development Authority** 1. Under
materials are extra
inform... c) National Information Centre for Data Administration , d) None of these
35. TReDS stands for COPRA 1986,

Single link for JAIIB what is the...
a) Treasury Rupee Dealing System
Recollected
b) Trade Remittance and Discounting System DRT MATTERS 1.
Jaiib Legal Recollected The normal cut
: 2018 May Lc se c) Trade Receivables Discounting System, **d) None of these
off limit to file
question tha Lok adalat 36.The total loans and advances extended by commercial banks to Micro an...
Ni Indemnity Gurantee and Small Enterprises for 2014-15 is:a) Rs.8,461 bn, b)Rs.6,872 bn, c)
Collecting banker LIMITATION
Awards under ban... Rs.25,229bn, d)Rs.9,645bn**
ASPECTS 1.
37.Small Finance Banks can lend to : Law of
CAIIB ABM Today's a)Small business units b) MSEs c)Unorganized Sector d)All of these** Limitation bars
Recollected questions only ...
38.Ministries/ Govt departments/PSUs to source % of their requirements from
(02.12.2018)
CAIIB ABM Today's MSE units. LOK ADALAT: 1.
Recollected questions a) 10 b)15 c)20** d)5 Lok Adalats can
(02.12.2018) Shared by handle the
39.The implementing agencies of CLCSS are : a)SIDBI, b)NABARD c)SIDBI & followin...
memebers Today
Paper normal, NABARD d)RBI &**
SECURITISATION
numerical s were SIDBI
&
moderate 1.Correlati... 40.UNIDO has identified industrial clusters for development RECONSTRUC
a)450 b)288 c)388 **d)121 TION OF
CAIIB ABM 300 CASE FINANCIAL
STUDIES & MCQs 41.As per MSMED Act, time limit for buyer to make payment to MSMEs is,
ASSET...
CAIIB ABM 300 CASE a) 60 days b)180 days c)90 days d)45 days**
STUDIES & MCQs 42.Maximum claim amount settled for micro enterprises with loan upto SARFEASI ACT •
Download link here The act has two
Rs.5.00 lakh under CGTMSE is: a)85% *b)80% c)75% d)50% parts, first part
https://drive.google.com
/file/d/1SeNI4- 43.Application for guarantee cover should be lodged with CGTMSE within of loan s...
AlKTwhaJe9XlTp39pDR sanctioned.
V81dNh3/view? Negotiable
A )Next months b) next quarter** c) within six months d) no time limit instruments act
usp=sh...
44.Pre-requisites for lodging claims with CGTMSE are,
Banking sector IT
CAIIB ABM Today exam a) Guarantee Cover is in force , b) Account classified as NPA ,c) Recall Notice guidelines
55 Recollected issued
Questions June 2018 Types of Charges
d) Lock-in period expired**, e) Recovery proceedings initiated : i) a&b, ii)a,b,c iii) : Very simple
CAIIB ABM TODAY
EXAM 55 QUESTIONS a,b,c,d iv)All way
RECOLLECTED by 45. Debt equity ratio is:
Srinivas Kante 1.Hicks - Large Exposures
Hansen synthesis Framework full
2.Basic difference details
between IS and LM LARGE
curve 3... EXPOSURES
a) Total outside liability/ Tangible Net Worth** FRAMEWORK
CAIIB BFM Recollected (LEF)
questions Today's Exam b) Long Term Liabilities/Tangible Net Worth ,c) Both the above , d) None of the
(09.12.2018) above
CAIIB BFM Recollected 46. A very high debt equity ratio means the unit is : Information
questions Today's Exam Technology
a) Having more own funds than outside liabilities**
(09.12.2018) 1.Case (Amendment)
studies form TT rates , b) Having more outside liabilities than own funds
Act, 2008 full ...
similar question of EPC c) Having funds surplus ,d) Having no equity at all
case study given in... Today's KYC aml
47. The debt-equity ratio of a firm has increased (increase in long term sources)
recollected
along with its current questions
JAIIB today's exam
recollected 04 ratio. Which of the following is certainly true?
November 2018 ...Link DC MSME
a) Sources of funds have been utilised for purchase of fixed assets
will be continuously schemes very
b) Sources of funds have been used for payment of current liabilities important
updated
JAIIB today's exam c) Sources of funds have been used for payment of current assets ,d) (b) & (c)
MSME
recollected 04 both** organizational
November 2018 ... Link 48. Debt service coverage ratio is (DSCR) : set up
will be continuously
updated 1.Two a) Profit after tax + depreciation - interest on term loan/annual term loan MSME institutional
questions on Basel 2 instalment + interest on frame work and
and 3 ... each 2 ... term loan overview
b) Profit before depreciation and Interest / Interest and annual instalment of Term MSME CDP very
MSME Very important
MCQs Loan*** important for
c) Profit/debt, d) None of the above exam
MSME Very important
MCQs 1. Which sector 49.Desirable current ratio for a borrower is: a) 1:1 b) 1.33:1 **c) 2:1 d) None of MSME schemes
TUF applies to? NMCP
a)Textile* b)Shoe the above
manufacture, c)Food 50. If current ratio is above 2:1, it generally means that the firm : Prevention of
processing, d)Glass a) Has very high investment in current assets cyber crime and
manufacture 2. Wh... fruad
b) Does not require working capital from the Bank
management
c) Liquidity is very high , d) All the above** tod...
51. Quick Ratio is:
a) Other name of acid test ratio** ► 07/01 - 07/08 (38)
b) Equal to quick assets: quick liabilities ► 06/24 - 07/01 (42)
c) Both the above ,d) None of the above
► 06/17 - 06/24 (34)
52. Assets turnover ratio of a company is increasing, which indicates:
a) Low capacity utilisation ► 06/10 - 06/17 (44)
b) Better capacity utilisation**
► 06/03 - 06/10 (63)
c) Increase in liquidity d) None of the above
53. The term Quasi Equity refers toa) ► 05/27 - 06/03 (67)
unsecured loans from friends and relatives**

b) unpaid share capital c) capital reserve, d) all of the above
54. An overdraft/cash credit account is considered as NPA if t remains
a) Out of order for more than 90 days **, b)Out of order for more than 180 days
c) Out of order for more than 270 days, d) Out of order for more than 360 days
55. The Standard Provision for MSME loans prescribed by RBI is: a)0.40%
b)0.25%**, c)1.00%
d)0.75%
56. SMEs are important for the nation's economy because they significantly
contribute to:-
industrial production ,b )exports, c) employment, d) innovation, e) all above**
57. The minimum and maximum members that can exist in a partnership firm are
___________ & _________ : a)2 & 10, b) 2 & 100,** c)2 & 30, d) 2 & 50, e)No
restriction
58. Public Ltd Company has minimum shareholders :a)50, b)20, c)100, d)7**
59. MSMED Act was enacted in ________ :a) 2005, b)2008, c)2006**, d)2010
60.Which one of the following activities is not included in Micro & Small (Service)
Enterprises? : a)Professional persons, b)Small business, c)Dairy***, d) Self
employed persons
61.PPP denotes ________ :a) Private Public Participation, b) Promoter Partner
Participation
c) Public Private Participation,*** d) Partner Private Public
62. Which one of the following stages of development of SMEs regulations are
not required?
a)Entry stage, b) Operational stage, c) Manufacturing stage,*** d)Implementation
stage
63. LLP stands for _________: a)Long term Liability Participation, b) Limited
Liability Partnership**
c) Legitimate Liability Partnership, d)Liability Limited Partnership
64. Composite Loan limit for SSI that can be sanctioned without security is Rs.__:
a)1 Mn. , b)2.5 **Mn.
c) 50,000/-, d) Any limit
65. What is the minimum and maximum number of participants in LLP? :a)2, 50,
b) 2, 20
c) 2, 100, d)2, unspecified*
66. The organizational set up of SSI came into being in : a)1950 **, b)1954, c)
1969 , d)1975
67. Which one of the following support services are not provided by MSME DO?
a)Training for entrepreneurship development, b)Financial assistance,** c)Tool
making
d) Preparation of project and product profiles
68. EDIs stands for ________: a)Export Development Institute,
b)Entrepreneurship
Development Institute, **c)Entrepreneurship Development of India,
d)Entrepreneurship Design
Instruments
69. Which one of the following organizations is not under the control of the State
Government?
a) Directorate of Industries, b)District Industries Centre, c) Technical Consultancy
Organization
d)EDII*
70. What is the maximum amount of guarantee available for Micro Enterprise
upto credit limit of
Rs. 5.00 Lakh? : a) Rs. 5.00 Lakh**, b)Rs. 3.75 Lakh, c)Rs. 2.50 Lakh, d) Rs.
4.25 Lakh
71. What is 'hurt money'? :a) Equity (***b)Loan, c) Debt d) Venture Capital
72. Hybrid Capital means: a) Equity+ debt,** b)Debt+ loan,
c)Equity+ Venture capital, d)Insurance+ credit card
73. Venture Capital means: a)High Risk Fund, b)Private equity,
c) Dedicated pools of capital privately held,*** d)Share capital
74. Pre-shipment credit refers to : a)Financing ships for export ,b)Payment to
supplier before shipment
of goods, c)Working capital finance to enable the exporter to procure material for
export,***
d)Financing for repairs to ships
75. Post Shipment Credit refers to: a) Financing the shipping companies, b)Credit
posted after shipping
the goods, c)Working capital finance from the time of export to the time of
actual***
realization of dues , d) Loans and Advances against documents covering
shipment of goods.
76.The objective of Make in India programme is,
a) to encourage companies to manufacture their products in India**
b) to encourage foreign companies to manufacture their products in India

c) to encourage companies to manufacture their products in India and export
abroad
d) to encourage companies to manufacture their products in India for domestic
markets
77. The Make in India Programme is focusing on sectors of the economy for job
creation and skill
enhancement : a) 10 sectors b) 17 sectors c) 22 sectors d) 25 sectors**
78. MSE credit by scheduled commercial banks as per cent of ANBC as at the
end of March 2014 stood
approximately at a) 15.0 **b) 30.5 c) 50.5d) 75.5
79. As per 4th NSSO survey, extent of financial exclusion in MSME sector is
around
a) 25% b) 50% c)75% d) 93%**
80. Under the Revised RBI Guidelines on Priority Sector Lending,the sub-target
for lending to micro
enterprises is fixed at a) 8% b) 9% c)7.5%** d) 7.0%
81. Which one of the following is not a characteristic of a successful cluster? : a)
Inter-firm cooperation
b)Cooperation blended with competition , c) Sectoral specialization d)Sharing of
capital resources*
82. Which one of the following approaches is not applicable in respect of
MSMEs? a) Work together
b)Produce together goods and services, c) Share benefits individually **d)Come
together
83. Which one of the following steps is not involved for launching a Cluster
Development project?
a) Identification of cluster, b)Capacity building,** c) Creation of cluster,
d)Formulation of final selection
84. UNIDO Projects evolve following various steps for promoting networking and
development.
i) Mapping the competitiveness, ii)Assisting the cluster's actors for efficient supply
chain management
Capacity building , iii) Providing advisory services, iv) Setting special financial
institutions for SMEs
a) (i), (iii), (iv), (v) is correct, b)(ii), (iii), (iv), (i) is correct**
c) (iii), (v), (iv), (ii) is correct, d) (v), (i), (ii), (iv) is correct
85. UNIDO stands for : a)United Nations Institution Development Organisation
b)United Nations Innovative Design Organisation
c) United Nations Industrial Development Organisation,** d) None of the above
86. Rehabilitation of a sick unit can be taken up if it : a)creates employment, b) is
a profitable unit
c) proves viable after rehabilitation,** d)repays all outstanding dues immediately.
87. Viability should be examined and approved by: a)State level Inter-institutional
Committee, b) The
concerned Bank, **Commissioner of Industries of the State Government,
d)Association of Sick
Industries
88. OTS scheme refers to : a)Sanctioning of ad hoc limits to the Sick Units, b)
Settlement of all
outstanding dues as on a specified date as agreed to between the Bank and the
Borrower,***
c) Sanction of rehabilitation package, d)Consortium lending of banks to the sick
unit.
89. What is NICDA?
a) National Institute for Coal Development Authority
b) National Industrial Corridor Development Authority**
c) National Information Centre for Data Administration , d) None of these
90.. Securitization means: (Tick appropriately) : a) Pooling of financial assets for
forming into a
scrip for sale in a financial market, *b) Pooling of loans of a single borrower, c)
Converting loans to
capital of banks, d)Arranging for repayment of dues
91. Which one of the following features of Microfinance is incorrect? : a)
Borrowers are from low
income group, b)Long duration loans, ***c)Loans without collaterals, d) High
frequency of repayment
92. Relationship banking allows several special contractual features as under:- i)
Discretion
,ii)Flexibility
iii) Inclusion of collateral requirements, iv) Decision, v) Use of covenants
a) (i), (ii), (iii) (iv) is correct , b)(ii), (iii), (iv), (v) is correct
c) (v), (iii), (i), (ii) is correct, ***d) (iv), (v), (iii), (i) is correct
93. Which one of the following grey areas of concern for growth is not related to
Microfinance sector?
a) Regulation, b)Pricing, c) Cluster formation, d) Technology**
94. Which one of the following factors is not related to pricing?
a) Character of the customer,** b)Elasticity of demand, c) Cost structures,
d)Economic conditions
95. SMEs are facing various challenges under WTO regime as under:- i)
Technology, ii) Removal of
Quantitative Restrictions, iii) Funding through FDI/JVs, iv) Infrastructure, v)Quality
of goods
a) (ii), (i), (v), (iv) is correct,** b) (i), (iii), (v), (ii) is correct, c)(iii), (v), (iv), (i) is
correct
d) (iv), (v),(ii), (i) is correct
96 National Bank is maintaining a current account of a Public Trust with 4

trustees. Bank receives an
information that two of them have died in a road accident while going for a
pilgrimage. The remaining
trustees now want to operate the account.
a bank would permit them to operate the account as they are now the surviving
trustees
b bank will refuse the operations as the power was vested with all of them
c bank will examine the trust deed to determine the future course of action
d if the trust deed allows the surviving trustees to operate the
account they will be allowed. Otherwise the bank would insist on a direction from
a competent court
e c and d both***
97. The Secretary of Seth Chanan Mal Public Trust, a reputed trust having 3
Trustees, has approached
you to open a saving bank account in favour of the Trust. While going through the
Trust Deed
submitted alongwith the application you find that there is no provision for
operation of the bank
account. What would you do under such circumstances ?
a the account would be allowed to be opened by the Secretary
b operation in the account will be allowed jointly with the Chairman of the Trust
c operation can be allowed against the joint signatures of all the Trustees***
d account will be opened only when the trust deed is modified.
e account cannot be operated in the absence of any provision
98. Ramesh and Ashok are trustees of a trust and execute a power of attorney in
favour of Tarun.
Trust deed is silent regarding the delegation of power. Tarun comes to operate
the account:
a Tarun can be permitted to operate the account
b Tarun can be permitted after obtaining consent of beneficiaries.
c Tarun cannot be permitted to operate.*
d Tarun can be allowed if credit balance is there. e b and d
99. Universal Bank is having a current account of Dhara Charitable Trust which is
operated by their
two trustees. In road accidents, both the trustees expire and this fact comes to
the notice of the bank.
What precautions should be taken by the bank for future operations in the
account?
a the beneficiaries will have to appoint another trustee and on the basis of their
resolution the
next trustee would be allowed to operate the account.
b the beneficiaries will be allowed to operate the account themselves.
c the operations in the account will be stopped
d the beneficiaries will be told to approach a court for appointment of new trustee
in case the
trust deed is silent about this** e b and c
100. Your branch receives from the trustees of a trust, a resolution passed by the
trustees resolving that the
current account would be operated by two out the three trustees, as the Td
trustee is proceeding abroad. The
account is presently operated by all the three in terms of the trust deed.
a the bank will accept the resolution and the request and permit the remaining
trustee to operate the

account, strictly as per the resolution.
b the bank will not accept the resolution since the Trust Deed provides for
operation of
the account by all the three***
c the bank will not accept the resolution and will suggest for power of attorney to
be given by the third
trustee.
d the bank will allow operations, since they are working as agents. e none of the
above
101 A partnership firm with three partners, named M/s Durani Brothers opened a
current account with
Corporate Bank with the operational instruction that 151 two partners will operate
the account. The firm
received a cheque in its favour and in order to meet the urgent payment
requirement, on behalf of M/s
Durani Brothers, the 3Ni partner endorsed the same in favour of another firm M/s
Shivani Cables, from
whom the raw material was purchased:- a Shivani Cables will become holder in
due course if it
is not known to them that the 3rd partners has no authority to endorse, b Shivani
Cables will not
become holder in due course if they know that only 1st and 2nd partner have
authority to operate the
bank account, c Shivani Cables's title will remain doubtful in all circumstances, d
a and b,
e a to c***
102 Universal Bank has granted cash credit limit of Rs:10 lac to M/s Kale
Traders, a partnership
firm. The account is showing a debit balance of Rs.9.50 lac when the notice is
received about the
insolvency of one of the partners. Which among the following steps should be
initiated by the bank to
safeguard its interest? a account should be recalled and party be asked to adjust
the
account, b operations in the account to be stopped and balance confirmation
letter to be
obtained from all the partners, c operations in the account to be stopped and
notice of
demand to be issued on the remaining partners, d notice about the outstanding
dues
to be sent to the official assignee in whom the estate of the insolvent partner has
been vested,
e c and d above**
103 Your branch maintains a current account in the name of M/s Site Ram Gita
Ram & Sons. A new
partner, the younger son of Mr. Gita Ram joins the firm and bank gets information
about this
development. Which among the following actions would be more appropriate to
deal with this
account:- A operations in the account should be stopped failing which the rule in
Clayton case can
apply, B account should be closed and new account should be opened observing
all formalities
C new partner can be admitted with the approval of the bank only. Hence the firm
should be advised
to obtained permission from the bank, d bank can obtain new partnership
declaration
letter and allow operations as per new mandate, **e bank can insist on for new
partnership
deed duly registered with Registrar of firms
104 Two partners of a partnership firm M/s Hyderabad Trading Company with
three partners,
approaches you to open a current account with initial deposit of Rs.10 lac and
promise that the
signatures on the account opening, form shall be obtained on the return of 3rd
partner from abroad,
although the said partner is not to actively engage himself in the business and he
will function as a
dormant partner. They also do not have any partnership deed in writing.
A the bank will open the account as the 3rd partner is not to operate the account
B the bank will open the account and will not permit any withdrawaltill the 3rd
partner signs the account
opening form C the account will be opened but cheque book will be given when
the 3rd partner returns,

D the account will not be opened unless all the partners have signed, E none of
the above**
105 Capital Bank maintains a current account of M/s Bihari Lal Sham Lai with the
same name
partners having operating instructions as 'any one can operate'. Mr. Sham Lai
informs the bank that
due to some dispute amongst the partners, the cheques signed by Mr. Bihari Lal
should not be paid
as he has acquired the whole share from Mr. Bihari Lal and is shortly introducing
another partner.
Meanwhile a cheque signed by Mr. Sham Lal is presented for payment. What
should the bank do?
A The operations in the account will be stopped and the mandate for operation of
the
account by any one, shall become inoperative, ***B The operations in the
account will be stopped
only after receipt of the notice from both of them. C The cheque signed by Mr.
Sham Lal shall be
passed since he has acquired the whole share now, D The partners will be
advised to sort out the issue
at July 11, 2018
Labels: IIBF MSME
9 comments:
Durgesh cool 11 July 2018 at 20:05
Answers for dis so can check
Reply
Prathyusha Vuyyuru 13 July 2018 at 23:06
Answers please
Reply
Mahesh Tamrakar 17 July 2018 at 11:33
Very helpful
Reply
nirmal kaur 5 October 2018 at 12:58
Thank you.
your information is very informative and helpful to me.
keep sharing about MSME
Reply
Startbusiness 16 November 2018 at 15:52
thank you for sharing this amazing blog this blog is very informative and very
good for indian people,its must important to know about the gst i really
Appereciated keep continue for awareness of peoples i have raed first time
this b log i want to see again this type of blog so keep continue gst
registrationIEC Registration in Delhi, Import Export Code Registration, India
Reply
Sudipto Das 13 January 2019 at 10:06
Awesome
Reply
jatin ((frndship vs love)) 14 January 2019 at 00:49
Answers please
Reply
Deepika 19 February 2019 at 11:46
*mark are answers.
Reply
Unknown 5 March 2019 at 12:53
Very useful if answers provide
Reply
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Wednesday, 11 July 2018 Blog Archive

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► 10/21 - 10/28 (13)

Recollected Questions Rs. extended to units IS Governance

35. TReDS stands for COPRA 1986,

unsecured loans from friends and relatives**

b) to encourage foreign companies to manufacture their products in India

96 National Bank is maintaining a current account of a Public Trust with 4

trustee to operate the

the 3rd partner returns,

at July 11, 2018

Labels: IIBF MSME

Answers for dis so can check

Prathyusha Vuyyuru 13 July 2018 at 23:06

Mahesh Tamrakar 17 July 2018 at 11:33

nirmal kaur 5 October 2018 at 12:58

Startbusiness 16 November 2018 at 15:52

Sudipto Das 13 January 2019 at 10:06

jatin ((frndship vs love)) 14 January 2019 at 00:49

Deepika 19 February 2019 at 11:46

*mark are answers.

Unknown 5 March 2019 at 12:53

Very useful if answers provide

Enter your comment...

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