Top 50+ Solved Modes of Creating Charge MCQ Questions Answer
Q. The banker has a statutory obligation to.........
a. Honour customers' cheque
b. Exercise lien
c. Maintain secrecy of his customers' accounts
d. Honour customers' bill
Q. The banker has a lien on........
a. Bonds given for collection
b. Bonds given for safe custody
c. Bonds left by mistake
d. (a) and (b) together
Q. Neither possession nor ownership is transferred in....
a. Pledge
b. mortgage
c. Hypothecation
d. none
Q. A mortgage can neither sue for foreclosure nor for sale of the property in...............
a. English mortgage
b. Usufructuary mortgage
c. Mortgage by conditional sale
d. none
Q. A bank finances an agriculturist to buy a tractor. The loan is secured by:
a. Hypothecation of the tractor
b. Mortgage of the tractor
c. Pledge of the tractor
d. Assignment of the tractor
Q. Bank A grants an overdraft to ABC Ltd against book debts. This is secured by:
a. hypothecation
b. pledge
c. mortgage
d. assignment
Q. Mortgage is defined under
a. contract act
b. sale of goods act
c. transfer of property act
d. none of the above
Q. The mortgager transfers the mortgaged property to the mortgagee on the condition that it will beretransferred upon payment of mortgaged money. This is
a. Simple mortgage
b. English mortgage
c. Equitable mortgage
d. mortgage by conditional sale
Q. In the case of a joint stock co the registration of a charge is not required with registrar of companies for
a. Pledge of moveable property
b. hypothecation of moveable property
c. assignment of book debts
d. mortgage of fixed assets
Q. RAM a transporter has been granted a loan for purchase of a truck. You will create which of thefollowing charge.
a. Assignment
b. a mortgage
c. pledge
d. hypothecation
Q. Hypothecation is a mode of security provided in
a. Indian contract act 1872
b. transfer of property act 1882
c. banking regulation act 1949
d. SARFAESI Act 2002
Q. Under Hypothecation charge
a. The ownership and possession of goods are with Bank
b. The ownership is with borrower but possession is with Bank
c. The ownership and possession are with borrower
d. The ownership is with Bank but possession with borrower
Q. Stamp duty on which of the following documents does not vary from state to state.
a. Mortgage of agreements
b. hypothecation agreements
c. guarantees
d. bills of exchange