JAIIB Legal & Regulatory Aspects of Banking Previous Year Question Papers FREE PDF

JAIIB Previous Year Question Papers (Legal & Regulatory Aspects of Banking) FREE PDF Download

Are you ready to start the preparation for JAIIB 2022?

If yes, then you might be looking for JAIIB Study material 2022 with the help of which you can further your clarity on some of the concepts or perhaps you are looking for something that can help you in your preparation of JAIIB exam whether its LRAB, PPB or AFB.

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Through this article, we suggest that you can solve the Question Papers of Previous Years (available free of cost) of JAIIB to get an idea about your level of understanding & the kind of questions that IIBF expects from its Junior Associates. 


You are free to download the PDF files of JAIIBs Accounting & Finance for Banking Previous Year Question Papers from the below links:-

Principles and Practices of Banking
JAIIB LRB FREE Sample Questions for May 2022 Click Here



You can also find the JAIIBs solved papers of the other two subjects (PPB & LRB) at the end of this article that will assist you in understanding the Exam pattern and the level of difficulty of the papers they usually possess.

Related Links:

Principles & Practices of Banking Syllabus 2022 JAIIB PPB Study Material PDF 2022 JAIIB PPB Notes PDF 2022 JAIIB PPB Mock Test PDF 2022
Accounting & Finance for Bankers Syllabus 2022 JAIIB AFB Study Material PDF 2022 JAIIB AFB Notes PDF 2022 JAIIB AFB Mock Test PDF 2022
Legal & Regulatory aspects of Banking Syllabus 2022 JAIIB LRAB Study Material PDF 2022 JAIIB LRAB Notes PDF 2022 JAIIB LRAB Mock Test PDF 2022

JAIIB/CAIIB Full Video Course


We hereby also advise you that you read some important questions of LRB before you appear in the exams:

No. MCQs Answer
1 The person is given licence to issue digital signature certificate u/s 24 of Information technology Act is called:

  1. Certifying authority
  2. DGC Authority
  3. Digital Signature Controller
  4. Controller of Certifying Authorities
2 In pledge, the possession of goods is with the creditor (pawnee) which can be 

(a) actual – where the goods are actually in possession of the creditor 

(b) symbolic – where the pawnor hands over the control of the goods to the pawnee without actual delivery 

(c) trust receipt – where the goods are released to the pawnor without payment, by the pawnee on the basis of an undertaking:

  1. A and c only are correct
  2. b and c only are correct
  3. A and c only are correct
  4. A to c all are correct
3 Which of the following charges in case of a company do not require to be registered u/s 125 of Companies Act:

  1. A charge on book debts of the company
  2. A floating charge on stocks of the company
  3. A charge on immovable property of the company
  4. A charge relating to contingent liabilities of the firm like a letter of credit bank guarantee
4 Which of the following Act has been enacted in India on account of the initiative of UN Commission on International Trade law:

  1. Prevention of Money Laundering Act
  2. Information Technology Act
  3. Right to Information Act
  4. None of these
5 Which of the following group is not included in term goods, as per Sale of Goods Act:

  1. Shares & stocks
  2. Grass and shares
  3. Actionable claims and stock
  4. Stock and grass
6 Which of the following statements are not correct in connection with shareholding in an Indian bank under provision of B R Act:

  1. There is no ceiling on a person’s holding of shares
  2. No shareholder can exercise voting rights in excess of 10% of total voting rights
  3. The provision of 10% ceiling restricts the transfer and registration of such transfer
  4. The provisions of Companies Act also govern transfer of shares of banking companies
7 What is the minimum and maximum no. of partners in a Limited Liability Partnership?

  1. Minimum 2 and maximum no limit
  2. Minimum 2 and maximum 50
  3. Minimum 2 and maximum 20
  4. Minimum 2 and maximum 10
8 Bank _ B allowed a cash credit advance to a party which is guaranteed by G. Such guarantee a series of transactions is called:

  1. Unlimited liability guarantee
  2. Deferred payment guarantee
  3. Continuing guarantee
  4. Performance guarantee
9 As per Sale of Goods Act, if there is breach of warranty, which of the following would be true:

  1. The parties can reject the goods
  2. The parties can treat the contract as repudiated
  3. The parties can claim damages
  4. All the above remedies are available
10 X, the natural guardian of M, the minor, wants to mortgage the property in the name of M to secure a loan for the benefit of the minor:

  1. The property in the name of M can’t be mortgaged
  2. The property in the name of M can be mortgaged if it is for benefit of the minor
  3. The property in the name of M can be mortgaged if it is for benefit of the minor with permission of the court only
  4. The property in the name of M can be mortgaged if it is for benefit of the minor with permission of the Registrar of Assurances
11 The maximum no. of directors in a public limited company (as per Companies Act 1956) has to be restricted to, which of the following:

  1. 20
  2. 15
  3. 12
  4. No ceiling. But if no. goes beyond 12, Central Govt. permission is required
12 ______ involves the promotion of corporate fairness. Transparency and accountability are in the interest of all stakeholders:

  1. Risk management
  2. Corporate risk management
  3. Corporate strategies
  4. Corporate governance
13 Which of the following does not match in the context of nomination provisions:

  1. Nomination in the locker as per Section 45 ZE to ZF
  2. Nomination in case of joint safe deposit of articles (only 1 nomination is allowed)
  3. Nomination in deposit (insolvent or minor can be the nominee)
  4. Nomination in non-resident accounts) – Permitted
14 A temporary overdraft is one which is allowed by the bank to a partnership firm for quite some time. The cheques issued by the firm are paid to the debit of this overdraft occasionally. A cheque is returned by the bank stating arrangement exceed although there was no debit balance in the overdraft account at the time of returning of the cheque. The bank did not give any prior notice to the customer for not allowing such facility any more. The firm claims damages from the bank for:

  1. The Bank is liable for the damages because it has breached an implied contract without giving a notice to the party
  2. Being temporary overdraft, bank is not under any obligation to continue the overdraft for a long period
  3. Party cannot claim any damages
  4. Party could not claim damages as it was a temporary overdraft only
15 Under provisions of right to Information Act, when information is sought by way of inspection of records, the charges are:

  1. Rs.3 for first hour and Rs.5 for each 15 min or part there of
  2. Rs.2 for first hour and Rs.10 for each 30 min or part there of
  3. No charge for the first hour and Rs.5 for each 15 min or part there of
  4. No charge for first hour and Rs.10 for each 15 min or part there of
16 A banking company can be acquired by Central Govt. if one of the below conditions is satisfied, which one is not correct?

  1. When Bank fails on more than one occasion to comply with RBI direction u/s 21 and 35 of B R Act
  2. When Bank is being managed in a manner detrimental to interest of depositors
  3. When Acquisition is essential for safeguarding interest of the depositors
  4. When Acquisition will benefit the shareholders and govt. both
17 Bank B sanctioned a term loan to an XYZ repayable in 26 quarterly instalments. The party did not pay due to instalments and the bank wants to file suit. Which of the following is the most appropriate answer?

  1. Bank can file the suit within 3 years for the entire amount due
  2. Bank can file the suit within 3 years for instalments not paid from the due date of the respective instalment
  3. Bank can file the suit within 3 years for instalments not paid from the due date of respective instalments & also the balance amount if the agreement provides for that
  4. Bank can file suit for the due amount and for the balance amount bank will have to wait
18 If a partner becomes insolvent and the account is in debt, the bank stops the payment to avoid:

  1. Application of right of set-off
  2. Application of the rule of subrogation
  3. Application of rule in Clayton case
  4. Application of rule in redemption
19 In Mardia Chemicals vs Union of India and others case, the Supreme Court had decided that:

  1. SARFAESI Act is fully invalid
  2. Condition of deposit of 75% amount by the borrower before approaching DRT against possession notice by banks, is invalid
  3. Condition of deposit of 75% amount by the borrower before approaching DRAT, against the decision of DRT, is invalid
  4. Condition of 60 days notice before possession is correct
20 Which of the following does not match its explanation?

  1. Clean bills are where the bill is not supported by any document of title to goods
  2. Supply bills are where the bill is drawn on the basis of transaction with the Govt. or govt. undertaking
  3. An accommodation bill is a bill that is drawn without any consideration or without any sale or purchase of goods
  4. Foreign bills are bills that are drawn in India and payable abroad by a resident in India.


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


As you may know, IIBF has postponed the November 2021 JAIIB Exams to January 2022. The dates for exams for Paper-1 (PPB), Paper-2 (AFB) & Paper-3 (LRAB) are 08.01.2022, 09.01.2022 and 22.01.2022 respectively.

You can check the official notification of Exam dates for JAIIB issued by IIBF by clicking on the link here. JAIIB 2022 EXAM OFFICIAL NOTIFICATION

While preparing for the upcoming JAIIB EXAMS you can make use of the Mock tests to get into exam mode. Here down below, you will also find some previous year questions prepared by the Learning Sessions.


Principles and Practices of Banking (PPB)
JAIIB (PPB) Sample Questions for Jan 2022 Get Here
Accounting and Finance for Bankers (AFB)
JAIIB (AFB) Sample Questions for Jan 2022 Get Here


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