QUIZ-1

QUIZ TIME

1.A document is signed by the borrower in Tamil (vernacular language).  Which among the following would be required to be obtained by the bank so as not to face any problem later on :

 a) an indemnity from the borrower for the loss which may  arise at a later stage'

 b) a letter from the borrower that he would not dispute the execution of the document later on

c) a letter from the borrower in vernacular language that he understood the contents of documents when explained to him and then signed

d) a certificate by the bank official, duly witnessed, that the contents of the document were read out and explained

e) c and d

2. Who will sign documents on behalf of the company while raising a loan?

a) Managing Director

b) Executive Director

c) Official authorised by Board of Directors through resolution

d) atleast 2 directors where loan is Rs.10 crore and above

e) None of the above

3.If a document has to be executed in different States and it attracts stamp duty as per State Stamp Act:

a) the document can be stamped in any state

b) duty paid in one state cannot be valid for other states

c) if duty in the first state is higher, no duty is required to be paid in the other state

d) if duty in the first state is lower, additional stamp duty has to be paid, in the other state

e) c and d

4.A loan account has become time barred loan and bank wants that the limitation should be available again.  It can be done:

a) by obtaining fresh loan documents with old loan being the consideration

b) by obtaining acknowledgement of debt

c) by asking the borrower for part payment of the loan

d) all the given options are correct

e) all the given options are wrong

5.For Term loan, the limitation period is 3 years from

a) Date of documents

b) Date of default

c) Date of sanction

d) Due date of each instalment

e) Date of default of each instalment

6.In case the debt is acknowledged after the expiry of limitation period, the limitation period will be:

a) Extended by another three years from this date

b) Extended for another three years from date of expiry

c)extended for 3 years

d) not be extended

e) None of the above

7.For clean overdrafts, the limitation period expires after:

a) Three years from date of default

 b) Three years from date of document

c)Three years from date of sanction

d)a to c whichever is earlier

 e) None of the above

8.For which of the following category of banks, the agriculture and weaker section sub-target is not a mandatory target?

a) domestic banks, foreign banks with less than 20 branches

b) domestic banks, foreign banks with 20 or more branches

c)foreign banks with 20 or more branches and foreign banks with less than 20 branches

d)foreign banks with less than 20 branches

e) None of the above

9.What is the rate of subvention for Housing loans?

a) 2%  

 b) 1%

c) 0.5%

d) 0.25%

e) no subsidy is available

10.What is the amount of subsidy, margin or rate of interest in DRI?

 a) subsidy - 15%

b) margin - 5%

c) rate of interest - 4% for loan upto Rs.6500 and above that, normal rate

d) no margin and subsidy and rate of interest 4%

e) None of the above

Ans.

1	2	3	4	5	6	7	8	9	10
c	c	e	a	d	d	b	d	b	d