IIBF LRAB IMPORTANT RECOLLECTED QUESTIONS | JAIIB EXAM 2024

IIBF LRAB IMPORTANT RECOLLECTED QUESTIONS | JAIIB MAY EXAM 2024

If you want to know what kind of questions have been coming in the Exam of Junior Associate of the Indian Institute of Bankers (JAIIB), then you are at the right page. In this page, we will provide you some questions from the LRAB paper: Legal & Regulatory Aspects of Banking, to help the future JAIIBs reach their platform of JAIIB in their journey of Banking Career. (And do check out the mock tests & other materials of JAIIB on our app/website. You will get any listed pack @82% FLAT OFF! Limited Period offer)

So, lets start with the MCQs/topics to help you pass JAIIB MAY 2024!

JAIIB LRAB RECOLLECTED QUESTIONS: 

If you are preparing for the coming LRAB Exam of IIBF this year or the next, you should not miss out on the memory recalled questions from the previous LRAB Exams 2024. As surely these questions or topics will help you in the Upcoming Exam of LRAB 2024 from the previous examinations of Law paper.

Here are the important Recollected Questions for JAIIB Exam 2024:

• The section in which the term ‘partner’ is defined

• What is the tenure of the director of a banking company?

• What does Preservation of records mean?

• What is the maximum number of shares that can be acquired in a company?

• Under what condition a depositor has to deposit 25% of the amount?

• Who has the power to inspect banks? 

• 1 Director in the ‘Board for Financial Supervision’ is nominated by whom?

• What are the powers that the Central government holds with respect to banking?

• What is the limitation period for default in the case of Term loans?

• Aman issued a cheque amounting to Rs. 300 and left spaces on both the sides i.e in words as well as figure. An employee forged it to Rs. 3300. It was cleared unknowingly with the sign style a little different. Who should be held responsible?

Important Topic:- JAIIB EXAM NOVEMBER 2022 NOTIFICATION

• What are the responsibilities of collecting bankers?

• A cheque that is drawn on some bank, what is the collecting bank supposed to do?

• What is Check crossing? 

• What is the Liability of paying banker?

• There is one partnership firm ‘Aman Baman and Chaman’. With operation E/S upto the limit of Rs.5000. Aman draws a cheque to Baman for Rs.4553. Baman transfers it to his account. Who is liable and what is the role of bank in this situation?

• A minor can share profit of the firm but can he be held to pay the liability of the firm if it dissolves?

• An Overdraft facility has been provided to a customer. But she has drawn beyond her OD limit and also many cheques have been returned. What are the rights of bank?

• Which type of company is restricted to transfer its share?

• In which document the main objective of the company and other objectives are mentioned in?

• What are the types of non-fund based credit facilities?

Read Also:- JAIIB LRAB Notes – Legal & Regulatory Aspects of Banking Part 1

• How many parties are involved in indemnity?

• Ankur lost his FD and is asking his bank to reissue a duplicate FDR. Bank issues it. What is the role of Ankur here?

• What are the right of indemnity holder? 

• What are the types of bank guarantees? 

• What is the liability of a bank in respect to honoring the Bank Guarantees?

• What does negotiating bank do?

• What is recourse and without recourse LC?

• What is DPG i.e Deferred payment guarantee? 

• Case study on simple mortgage and equitable mortgage ratio of share on default

• What are the types of mortgage with examples: gold loan, car lone, home loan.

• What does fixed charge mean?

• Where is the charge registration done?

• What is Banking ombudsman:

• Matters & Authority where complaints can be made.

• If not satisfied with BO decision then who should be approached?

• What are the effects of non-registered company?

• DRT & DRAT based questions:

• Who is the higher authority of DRAT?

• Who has the power to modify DRT?

• Cases which can only be handled by DRT.

• In case, property is other than the place from where loan is taken from another place, which DRT has to be approached?

Important Topic:- JAIIB LRAB SYLLABUS 2024 – LRAB LEGAL & REGULARITY ASPECTS OF BANKING

• Questions based on SARFAESI ACT:

• Validity

• Security interest

• Receipt of Security

• Cancellation of registration of SRC

• Powers & the applicability of SARFAESI and the enforcement of security interest

• Ankush guarantees OD for her daughter that it will be paid. What type of financing it is?

• What is prima facie evidence?

• What are the consumer complaints?

• Who is the head of state consumer protection council?

• Who is the minister in charge of the consumer affair?

• What is TDS & TAN Number?

• What is the liability of surety?

• What do you mean by Bailment of goods?

• What are the rights of unpaid seller?

• What are the areas where RTI is applicable?

• Supply bills:

• They are related to whom?

• To whom it should be financed?

• What do you mean by Hypothecation?

• What do you mean by Pledge?

• What do you mean by Mortgage?

• What do you mean by Charge?

• What is contract of sale?

Read Also:- JAIIB NOVEMBER EXAM 2023 | SCHEDULE OF LIVE CLASSES

• What is Minor account?

• FEMA: Foreign Exchange Management Act

• What is Reverse mortgage?

• What is the minimum fees of RTI?

• What is the term duration of a director of bank?

• Who is regulatory authority of DRT?

• What is the Security receipt?

• What are Floating charges or Fixed charge?

Go through the above topics or questions as they are the most asked topics in the JAIIB Law Exam. You can also go through the Law brief notes & Mock Tests that have been prepared by Learning Sessions available on the official website of Learning sessions. 

You can check other articles on LRAB to help the JAIIB 2024 candidates study for LRAB Exam in 2024 right here:

• Protection to paying Banker Negotiable Instrument Act 1881: Laws
• What after the Death of sole member? OPC
• JAIIB LRAB Notes – Legal & Regulatory Aspects of Banking Part 1
• Legal & Regulatory Aspects of Banking Mock Test

LRAB & OTHER JAIIB PAPERS LATEST STUDY MATERIAL TO PASS JAIIB 2024

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