As part of our Winner’s Curry Series, We will bring you 10 questions daily for RRB Specialist officers exam. Have a look at the questions, Check their solutions at the bottom and comment your queries below

Today’s RRB Specialist : Legal Questions

1 .When a guarantee extends to a series of transactions, it is called a continuing guarantee. The liability of the surely in case of a continuing guarantee:
1 comes to an end when the guaranteed debt is duly discharged or the promise is duly performed
2 extends to all the transactions contemplated until the revocation of the guarantee
3 is limited to a fixed period
4 All of these
2.What is meant by document of title to goods?
1 It entitles and enables its rightful holder to deal with the goods represented by it as an owner
2 It is a proof of ownership of goods
3 It confers a right on the possessor to transfer the goods to another person
4 All of the above
3.A Bank is required to maintain the following for monitoring of anti-money laundering activities:
1 Maintain record of all transactions
2 Furnish information to the Director
3 Verify and maintain records of the identity of all clients
4 All of the above
4.The death of the surety operates in the absence of any contract to the contrary as a relocating of a continuing guarantee:
1 So far as regards future transactions
2 For both the past and the future transactions
3 For future transactions only it the creditor has notice of the death
4 All of the above
5.Which of the following is material alteration?
1 Crossing of a cheque
2 Conversion of blank endorsement into an endorsement in full
3 Filling blanks in an inchoate instrument
4 Alteration of the rate of interest
6.The requirement of execution of documents depends on:
1 Nature of credit facility
2 Nature of security of loan
3 Constitution of business
4 All of the above
7.Which of the following reasons prompted for set up of Debt Recovery Tribunal?
1 Undue delay in setting the claims by courts
2 Delay in extension the decree
3 Non-availability of Assets with the borrower due to inordinate delay in courts
4 All of the above
8.Security interest means:
1 Right title and interest of any kind upon property
2 Created in favour of any secured creditor
3 This includes mortgage Hypothecation and assignment
4 All of the above
9.The complaints dealt by National Commission are where value of goods and services exceeds:
1 Rs. 50 lakh
2 Rs.1 crore and above
3 Rs.1.25 crore
4 Rs.2 crore
10.Before passing an Award the Banking Ombudsman will be guided by:
1 Evidences produced by the parties
2 Banking law and practice
3 Instructions and guidelines issued by RBI
4 All of the above
1: 2
2: 4
3: 4
4: 1
5: 4
6: 4
7: 4
8: 4
9: 2
10: 4
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