JAIIB Paper Questions | LRAB Paper 3 | JAIIB LRAB SYLLABUS PRIORITY

JAIIB Paper Questions

Important JAIIB Paper Questions with complete concepts of the JAIIB exam Legal and Regulatory aspects of banking are explained in this video. Kindly watch these 2022 JAIIB questions videos till the end for a complete understanding of legal banking.

You can cover a lot of topics with these videos of LRAB. As they cover some of the most important topics of the LRAB 2022 JAIIB, after going through the videos, we are sure you will know what you need to cover the most from the JAIIB LRAB Syllabus 2022.

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JAIIB SYLLABUS PRIORITY to help you pass JAIIB Exams Nov 2022.

IMPORTANT: If you haven’t done any preparation till date for the exams, you need to go & download our app to get the crash course to Crack Legal and Regulatory aspects of banking paper now!! And don’t forget to use Code: EXAMS to get 82% Off!

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Watch the below series we have created for your convenience to know how you need to prepare the LRAB Exams 2022!!

Also find the MCQs from the Legal & Regulatory Aspects of Banking paper at the end of the Previous Year Question Series.

Legal Banking Questions PART 1

Legal Banking Questions PART 2

Legal Banking Questions PART 3

Legal Banking Questions PART 4

Legal Banking Questions PART 5

Legal Banking Questions PART 6

Legal Banking Questions PART 7

Legal Banking Questions PART 8

Legal Banking Questions PART 9

Legal & Regulatory Aspects of Banking IMPORTANT MCQS for JAIIB NOV 2022

Q 1. In accordance with the Fair Practice Code, if a borrower or a bank or financial institution requests the transfer of the borrower account, the lender must communicate its consent or objection within what no. of days from the date of receipt of the request?

1. 21 days
2. 15 days
3. 7 days
4. one month

Ans – 4

Q 2. Which of the following is not right?

1. Banks may bargain bills drawn under LCs, on a ‘with recourse ‘or ‘without recourse ‘basis
2. Banks cannot buy/discount the bills drawn otherwise than under Letter of Credit on ‘without recourse’ basis
3. Banks should not rediscount bills earlier discounted by non-bank financial companies (NBFCs) except in respect of bills arising from the sale of light commercial vehicles and two / three wheelers.
4. Banks cannot bargain bills drawn under Letter of Credits, on ‘with recourse ‘or ‘without recourse’ basis

Ans – 4

Q 3. Before the amount specified in becomes payable, any person who possessed a promissory note, bill of exchange or check (if payable to bearer) or the payee or indorsee thereof (if payable to order) for consideration and without reasonable cause to believe there was any defect in the title of the person from whom he derived his title is called _________.

1. Holder
2. Holder in due course
3. Holder in Discharge
4. Holder in due diligence

Ans – 2

Q 4. When an Information Commission conducts an inquiry, which of the following is true?

(i) It may examine any record to which the `RTI Act, 2005` applies,

(ii) A record can’t be withheld from it (no matter what the provisions of any Act passed by Parliament or the State Legislature may say),

(iii) In proceedings under the Code of Civil Procedure, IC has the same powers as a Civil Court.

1. Only (i) and (ii)
2. Only (i) and (iii)
3. Only (ii) and (iii)
4. (i), (ii) and (iii)

Ans – 4

Q 5. Which of the following is accurate regarding the loan to directors of other banks or relatives of directors of their own bank or directors of other banks?

1. In all cases, the loan can be sanctioned by relevant authority but it should be reported to the Board of Directors of approving Bank
2. In all cases, the loan cannot be given without sanction of the Board of Directors of the lending Bank.
3. Loan of Rs 25,00,000.00 and above can be granted only after obtaining the sanction of the Board of Directors of the lending bank
4. Loan of < Rs 25,00,000.00 can be sanctioned by appropriate authority but it should be reported to the Board of Directors of approving Bank

Ans – 3

Q 6. Information that is not subject to disclosure under the RTI Act 2005?

(i) Unless the disclosure would negatively affect India’s sovereignty and integrity, its security, strategic, scientific or economic interests, its relations with foreign states, or incite an offense,

(ii) information that has been expressly prohibited from being published by any court or tribunal, or the disclosure of which may constitute contempt of court,

(iii) It is not necessary to disclose information containing commercial confidence, trade secrets, or intellectual property when disclosure would harm the competitive position of a third party, unless the competent authority believes that such disclosure would serve the public interest.

1. Only (i) and (ii)
2. Only (i) and (iii)
3. Only (ii) and (iii)
4. (i), (ii) and (iii)

Ans – 4

Q 7. In accordance with Section 2(1)(a) of Consumer Protection Act 1986, an ‘appropriate laboratory’ is one that is…..

(i) accredited by the Government,

(ii) certified by a State Government,

(iii) financed by the Government or a State Government to carry out analysis or test of any goods with the purpose to determine whether such goods suffer from any defect

1. Only (i) and (ii)
2. Only (i) and (iii)
3. Only (ii) and (iii)
4. (i), (ii) and (iii)

Ans – 4

Q 8. It is necessary for the bank to go through the __________ before offering credit to a cooperative society to ensure that the society is capable of utilizing the loan facilities and can provide securities by hypothecation, pledge or mortgage in order to obtain the loan.

(i) By law of the society,

(ii) Approval by the Registrar of Cooperative Societies authorizing the Cooperative Society to open an account with the bank

1. Only (i)
2. Only (ii)
3. Both (i) and (ii)
4. Either (i) or (ii)

Ans – 3

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