1. Mortgage is defined under - transfer of property act
2. Loan against LIC policies are given based on - Surrender Value
3. What is the target for RRBs under Priority sector - 75%
4. INR that can be given to a NRI OR Tourist by an Authorised money changers in the form of cash while exchanging foreign exchange Under KYC norms - USD3000
5. For the purpose of Medical Treatment without any estimate ,how much amount is admissible under FEMA for remittance abroad - USD250000
6. In case of Bill of Exchnage, what is the meaning of crossing - No Meaning
7. Double traverse line crossing on cheque for Account Payee is defined in ACT - Not defined in any ACT
8. Maximum number of endorsements that are allowed on a Negotiable Instrument - No Limit
9. Garnishee order is issued under which code - Civil procedure code
10. The maximum amount of remittance permitted under Western Union Money Transfer is - Equivalent to USD2500
11. The minimum number of directors in a Pvt Lt Co & Public Ltd Co is - 2&3
12. Pre shipment credit is available in which of the LC - Red Clause LC
13. How much INR can a resident carry when he goes to a foreign country - USD25000
14. LOK ADALAT has been setup under the provisions of - LEGAL SERVICES AUTHORITY ACT
15. When no time is mentioned in Bill of Exchange or Promissory Note, it becomes payable - On Demand
16. Under Hypothecation charge - The ownership and possession are with borrower
17. The lock in period for invocation of guarantee under CGTMSE is - 18 Months
18. The minimum amount of withdrawal/deposit into currency chest is - Rs 100000/- & thereafter multiples of Rs 50000/-
19. Current Ratio denotes - liquidity
20. Import and export trade is regulated by - DGFT
21. An “irrevocable” letter of credit is one - which can be revoked or amended only if mutually agreed upon by all the parties concerned
22. When a Non resident becomes resident his NRE accounts can be converted in to - RFC Account
23. "R" Returns which are required to be submitted to Reserve Bank of India pertain to - foreign exchange transactions made by the authorised dealers
24. TDS on Rent paid by branches is to be deducted if the rent exceeds - 180000/- in Financial Year
25. Under Credit Guarantee Fund Scheme, CGTMSE the maximum eligible amount - 100 Lacs
26. Contract of indemnity - A Contract where one person promises to save another from the loss caused by an act of third party
27. Housing Loan outstanding is Rs. 20 lakhs. House property value is Rs. 40 lakhs and original loan granted was Rs. 25 lakhs. LTV RATIO is - 50% [Explanation LTV Ratio = Value of Property/ Outstanding Loan i.e. 40/20=50%]
28. In case of death of depositor, the status of nominee will be - trustee of legal heirs
29. When Guarantor X pay all dues to principal debtor, he gets which rights as that of creditor - Right of Subrogation
30. SWIFT - Society for Worldwide Inter bank Financial Telecommunication
31. ASBA - Applications Supported by Blocked Amount
32. The current assets of a company is 600 lakhs and the current ratio is 1.5.The current liability will be - 400 lakhs [explanantion - Current Ratio = Current Asset/Current Laibilities i.e. 1.5=600/Current Laibilities]
33. A person can be a director of maximum in how many companies at the same time as per company act 2013 - 10
34. If actual sales is Rs 10000 and the break even sales is Rs 6000.The margin of safety ratio is - 40% [Explanation - Margin of Safety = Actual Sales - Break Even Sale i.e. 10000-6000=4000, 40% of 10000 is 4000]
35. Special Crossing - Name of the bank on the face or back of the cheque with or without two parallel lines
36. Under PMEGP the maximum cost of the project/ unit admissible under business /service sector is - 10lacs
37. A resident wants to open a joint savings account with his close relative who is a non resident. The bank can open - ordinary savings account with operational instruction either or survivor
38. Contribution Means - Sales-Variable cost
39. Objective of raising Reverse repo rates - To absorb excess liquidity in the market
40. MMID - Mobile Money Identifier
41. CIBIL - Credit Information Bureau of India Ltd.
42. What is the margin for educational loans of more than Rs.4 lacs for studying in foreign country - 15%
43. Commission by Govt. of India to Banks for Pension payment transaction is - Rs 65/- per transaction
44. Kharif Crop sown in the month of July harvested in October and Rabbi Crop sown in the month of October harvested in March- april
45. In case of a locker jointly held and operated by A & B, the nominee is C. On the death of A, the contents of the locker will be given to Partner B and Nominee C
46. Profit After Tax is Rs 10 lac, Depreciation is Rs 2 lac, Interest on Term loan is Rs 1.50 lac, and Annual repayment is Rs 4lac. What will be the DSCR - 2.45 [Explanation- DSCR= Profit After Tax + Depreciation + Interest on Term Loan / Interest on Term Loan + Annual Repayment i.e. 10+2+1.5/1.5+4 = 13.5/5.5 = 2.45]
47. Stock for Rs 50 lac was insured for only Rs 20 lac which was destroyed. What amount will be settled by the Insurance Company - 8 lacs [Explanation - insured amount was 20 lacs while stock was 50 lacs i.e. 20*100/50=40%, So in case of destroy 40% of 20 lacs = 20*40/100 = 8 lacs]
48. Maximum Amount case that can be referred to Lok Adalat is - 20 lacs
49. Where balance is less than 20% of the advance is not covered under SARFFAESI Act.
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