PFRDA Legal Phase II Paper II 2022 Previous Year Paper

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PFRDA Legal Phase II Paper

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II 2022 Previous Year Paper

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PFRDA Legal Phase II Paper II 2022 Previous Year Paper

Question No. 1

As per the Specific Relief Act what is the time period within which a suit filed under the Act
shall be disposed of by the court?

Options :

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1. Within a period of six months from the date of service of summons to the
defendant
2. Within a period of twelve months from the date of service of summons to the
defendant

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3. Within a period of twelve months from the date of service of summons to the
defendant and which may be extended for a further period not exceeding six months
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in aggregate
4. Within a period of six months from the date of service of summons to the
defendant and which may be extended for a further period not exceeding twelve
B
months in aggregate
5. There is no specific time period mention in the Act for the disposal of suits filed
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Answer : Within a period of twelve months from the date of service of summons to the
defendant and which may be extended for a further period not exceeding six months in
aggregate
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Explanation :
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Section 20C. Expeditious disposal of suits: Notwithstanding anything contained in the

Code of Civil Procedure, 1908 (5 of 1908), a suit filed under the provisions of this Act shall
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be disposed of by the court within a period of twelve months from the date of service of
summons to the defendant: Provided that the said period may be extended for a further
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period not exceeding six months in aggregate after recording reasons in writing for such
extension by the court.

Question No. 2

What is the responsibility of a person who finds goods belonging to another, and takes
them into his custody, as per the Indian Contract Act?

Options :

1. No responsibility
2. As the Court may decide
3. Responsibility as a bailor
4. Responsibility as a bailee
5. Responsibility as a finder

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Answer : Responsibility as a bailee

Explanation :

Section 71. Responsibility of finder of goods: A person who finds goods belonging to
another, and takes them into his custody, is subject to the same responsibility as a bailee.

Question No. 3

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When the pawnor has obtained possession of the goods pledged by him under a contract
voidable but the contract under section 19 or section 19A has not been rescinded at the
time of the pledge, the pawnee______________

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Options : ee
1. Acquires a good title to the goods
2. Does not acquire a good title to the goods
B
3. Acquires a good title to the goods, provided he acts in good faith and without
notice of the pawnor's defect of title
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4. May acquire a good title to the goods, provided he acts in good faith and without
notice of the pawnor's defect of title
5. Shall at the discretion of the parties to the contract acquire a good title to the
goods, provided he acts in good faith and without notice of the pawnor's defect of title
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Answer : Acquires a good title to the goods, provided he acts in good faith and without
notice of the pawnor's defect of title
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Explanation :
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Section 178A. Pledge by person in possession under voidable contract: When the pawnor
has obtained possession of the goods pledged by him under a contract voidable under
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section 19 or section 19A, but the contract has not been rescinded at the time of the
pledge, the pawnee acquires a good title to the goods, provided he acts in good faith and
without notice of the pawnor's defect of title.

Question No. 4

A guarantee which extends to a series of transactions, is called a________________

Options :

1. Continuous guarantee
2. Continuing guarantee
3. Future transaction guarantee
4. Either a b or c

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5. Either a or b

Answer : Continuing guarantee

Explanation :

Section 129. "Continuing guarantee": A guarantee which extends to a series of

transactions, is called a "continuing guarantee"

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Question No. 5

The maxim Nemo Dat Quod Non-Habet means_____________

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Options : ee
1. One can give everything he wants
2. One can be judge in his own cause
B
3. No one can give what he does have
4. No-one is judge in his own cause
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5. No one can give what he doesn’t have

Answer : No one can give what he doesn’t have

Explanation :
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The maxim relates to the very transfer of title and whether one who agrees to sell a
property has the legal title r\or right to do the so. If the person does not have such right or
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title then in such a situation the transfer will not take effect and cannot be enforced.
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Question No. 6

Ad valorem means_____________

Options :

1. According to the value

2. According to the use
3. According to the nature
4. According to the need
5. According to parties

Answer : According to the value

Explanation :

A Latin term which means according to the value and is related to the method of levying
duties i.e., tax on a transaction/property, payable proportionally on the value of the

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transaction or property, rather than on its quantity.

Question No. 7

Contingent contracts to do or not to do anything if an uncertain future event happens

________

Options :

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1. Can be enforced by law even if that event has not happened
2. Cannot be enforced by law unless and until that event has happened
3. Can be enforced when the happening of that event becomes impossible

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4. Can be enforced when the happening of that event becomes possible
5. Can be enforced at anytime which the parties may mutually decide
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Answer : Cannot be enforced by law unless and until that event has happened
B
Explanation :
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Section 32. Enforcement of contracts contingent on an event happening: Contingent

contracts to do or not to do anything if an uncertain future event happens cannot be
enforced by law unless and until that event has happened. If the event becomes
impossible, such contracts become void.
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Question No. 8
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Contingent agreements to do or not to do anything, if an impossible event happens, are

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void ____________
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Options :

1. Whether the impossibility of the event is known or not to the parties at any time
2. Whether the possibility of the event is known or not to the parties to the agreement
at the time when it is made
3. Whether the impossibility of the event is known or not to the parties to the
agreement after it is made
4. Whether the impossibility of the event is known or not to the parties to the
agreement at the time when it is made
5. Whether the impossibility of the event is not to the parties to the agreement at the
time when it is made

Answer : Whether the impossibility of the event is known or not to the parties to the
agreement at the time when it is made

Explanation :

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Section 36. Agreement contingent on impossible events void: Contingent agreements to

do or not to do anything, if an impossible event happens, are void, whether the
impossibility of the event is known or not to the parties to the agreement at the time when it
is made.

Question No. 9

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Acceptance of the proposal is said to be done when___________

Options :

1. Acceptance to perform

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2. Acceptance of any consideration
3. Performance of the conditions of a proposal
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4. All a b & c
5. Either b or c
B
Answer : Either b or c
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Explanation :

Section 8. Acceptance by performing conditions, or receiving consideration: Performance

of the conditions of a proposal, or the acceptance of any consideration for a reciprocal
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promise which may be offered with a proposal, is an acceptance of the proposal.

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Question No. 10
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A company may issue fully paid-up bonus shares to its members out of
_______________
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Options :

1. Free reserves
2. Securities premium account
3. Capital redemption reserve account
4. Either a b or c
5. Either b or c

Answer : Either a b or c

Explanation :

Section 63. Issue of bonus shares: (1) A company may issue fully paid-up bonus shares to
its members, in any manner whatsoever, out of— (i) its free reserves; (ii) the securities
premium account; or (iii) the capital redemption reserve account: Provided that no issue of
bonus shares shall be made by capitalising reserves created by the revaluation of assets.

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Question No. 11

Every company shall, at the first annual general meeting, appoint an individual or a firm as
an auditor who shall hold office_______

Options :

1. From the conclusion of that the conclusion of every sixth meeting

2. From the conclusion of that meeting till the conclusion of its sixth annual general

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meeting
3. From the conclusion of that meeting till the conclusion of its sixth annual general
meeting and thereafter till the conclusion of every sixth meeting
4. From the conclusion of that meeting till the conclusion of its fifth annual general

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meeting and thereafter till the conclusion of every sixth meeting
5. From the conclusion of that meeting till the conclusion of its sixth annual general
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meeting and thereafter till the Board resolves to

Answer : From the conclusion of that meeting till the conclusion of its sixth annual general
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meeting and thereafter till the conclusion of every sixth meeting
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Explanation :

Section 139.Appointment of auditors: (1) Subject to the provisions of this Chapter, every
company shall, at the first annual general meeting, appoint an individual or a firm as an
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auditor who shall hold office from the conclusion of that meeting till the conclusion of its
sixth annual general meeting and thereafter till the conclusion of every sixth meeting and
the manner and procedure of selection of auditors by the member of the company at such
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meeting shall be such as may be prescribed.

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Question No. 12
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When a compromise or arrangement is proposed between a company and its creditors or

its members the Tribunal on an application of _______

Options :

1. Company
2. Creditor or member
3. Liquidator
4. Either a or b or c
5. Both a & b

Answer : Either a or b or c

Explanation :

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(1) Where a compromise or arrangement is proposed— (a) between a company and its
creditors or any class of them; or (b) between a company and its members or any class of
them, the Tribunal may, on the application of the company or of any creditor or member of
the company, or in the case of a company which is being wound up, of the liquidator
appointed under this Act or under the Insolvency and Bankruptcy Code, 2016, as the case
may be, order a meeting of the creditors or class of creditors, or of the members or class of
members, as the case may be, to be called, held and conducted in such manner as the
Tribunal directs.

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Question No. 13

Who is a corporate guarantor as per IBC?

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Options : ee
1. Person to whom a financial debt is owed
2. Person who is the surety in a contract of guarantee to a corporate debtor
B
3. Corporate person who is the surety in a contract of guarantee to a corporate
debtor
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4. Either a or b or c
5. Both a & b

Answer : Corporate person who is the surety in a contract of guarantee to a corporate

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debtor

Explanation :
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Section 5-Definitions: (5A) “corporate guarantor” means a corporate person who is the
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surety in a contract of guarantee to a corporate debtor.

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Question No. 14

Any money transferred to the Unpaid Dividend Account of a company which remains
unpaid or unclaimed for a period of________________ shall be transferred by the
company along with interest accrued, if any, thereon to the Investor Education and
Protection Fund established

Options :

1. Seven consecutive years

2. Seven years from the date of transfer
3. Seven years from the date of declaration
4. Such period as the Board may decide
5. Such period which the Central Government may prescribe

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Answer : Seven years from the date of transfer

Explanation :

Section 124.Unpaid Dividend Account: (5)Any money transferred to the Unpaid Dividend
Account of a company in pursuance of this section which remains unpaid or unclaimed for
a period of seven years from the date of such transfer shall be transferred by the company
along with interest accrued, if any, thereon to the Fund established under sub-section (1)
of section 125 and the company shall send a statement in the prescribed form of the

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details of such transfer to the authority which administers the said Fund and that authority
shall issue a receipt to the company as evidence of such transfer.

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Question No. 15
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Every partner of a limited liability partnership is, for the purpose of the business of the
limited liability partnership________
B
Options :
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1. Agent of the limited liability partnership

2. Agent of the partners
3. Agent of the limited liability partnership, but not of other partners
4. Agent of the limited liability partnership as well as the other partners
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5. Neither the agent of the limited liability partnership nor of the partners

Answer : Agent of the limited liability partnership, but not of other partners
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Explanation :
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Section 26. Partner as agent: Every partner of a limited liability partnership is, for the
purpose of the business of the limited liability partnership, the agent of the limited liability
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partnership, but not of other partners.

Question No. 16

As per the LLP Act any change in the partners of a limited liability partnership
_____________

Options :

1. Shall affect the existence, rights or liabilities of the limited liability partnership
2. Shall not affect the existence, rights or liabilities of the limited liability partnership
3. May affect the existence, rights or liabilities of the limited liability partnership
4. Shall not affect its existence but rights or liabilities of the limited liability partnership
shall be affected

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5. Might affect the existence, rights or liabilities of the limited liability partnership
depending on the terms of the agreement

Answer : Shall not affect the existence, rights or liabilities of the limited liability partnership

Explanation :

Section 3. Limited liability partnership to be body corporate: (1) A limited liability

partnership is a body corporate formed and incorporated under this Act and is a legal entity

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separate from that of its partners. (2) A limited liability partnership shall have perpetual
succession. (3) Any change in the partners of a limited liability partnership shall not affect
the existence, rights or liabilities of the limited liability partnership.

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Question No. 17 ee
What is the liability of a partner towards the firm for any loss caused to the firm by the
fraud on the part of the partner in the conduct of the business of the firm as laid down
B
under the Partnership Act?
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Options :

1. Duty to indemnify
2. Duty of warranty
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3. Duty of guarantee
4. Duty to take the liability
5. As may be mutually agreed upon by the partners
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Answer : Duty to indemnify

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Explanation :
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Section 10. Duty to indemnify for loss caused by fraud: Every partner shall indemnify the
firm for any loss caused to it by his fraud in the conduct of the business of the firm.

Question No. 18

According to the IBC the Adjudicating Authority, in relation to insolvency resolution and
liquidation for corporate persons including corporate debtors and personal guarantors
thereof shall be the _____________

Options :

1. Debt Recovery Tribunal

2. National Company Law Tribunal
3. Debt Recovery Appellate Tribunal

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4. National Company Law Appellate Tribunal

5. Both a & b

Answer : National Company Law Tribunal

Explanation :

Section 60-Adjudicating Authority for corporate persons: (1) The Adjudicating Authority, in
relation to insolvency resolution and liquidation for corporate persons including corporate

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debtors and personal guarantors thereof shall be the National Company Law Tribunal
having territorial jurisdiction over the place where the registered office of the corporate
person is located.

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Question No. 19 ee
If any person contravenes or attempts to contravene or abets the contravention of the
provisions of the PFRDA Act, he shall be punishable with __________
B
Options :
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1. Imprisonment for a term which may extend to ten years

2. Imprisonment for a term which may extend to ten years, or with or without fine
3. Imprisonment for a term which may extend to ten years, or with fine, which may
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extend to twenty-five crore rupees

4. Imprisonment for a term which may extend to ten years, or with fine, which may
extend to twenty-five crore rupees or with both
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5. Imprisonment for a term which may extend to ten years, and fine of twenty-five
crore rupees or with both
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Answer : Imprisonment for a term which may extend to ten years, or with fine, which may
extend to twenty-five crore rupees or with both
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Explanation :

Section 32. Offences: (1) Without prejudice to any award of penalty by the member under
this Act, if any person contravenes or attempts to contravene or abets the contravention of
the provisions of this Act or of any rules or regulations made thereunder, he shall be
punishable with imprisonment for a term which may extend to ten years, or with fine, which
may extend to twenty-five crore rupees or with both.

Question No. 20

Which of the following statements are true related to the Chairperson under the PFRDA
Act?

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Options :

1. Be appointed by the Central Government

2. Chairperson shall not hold office after he has attained the age of sixty-five years
3. Shall hold office for a term of five years from the date on which he enters upon his
office
4. All a b & c
5. Both b & c

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Answer : All a b & c

Explanation :

Section 4. Composition of Authority: The Authority shall consist of the following Members,

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namely: — (a) a Chairperson; (b) three whole-time members; and (c) three part-time
members, to be appointed by the Central Government from amongst persons of ability,
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integrity and standing and having knowledge and experience in economics or finance or
law with at least one person from each discipline. Section 5. Term of office and conditions
of service of Chairperson and members of Authority: (1) The Chairperson and every
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whole-time member shall hold office for a term of five years from the date on which he
enters upon his office and shall be eligible for reappointment: Provided that no person shall
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hold office as a Chairperson after he has attained the age of sixty-five years.
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Question No. 21

As per the Companies Act no company limited by shares shall issue any preference
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shares which are______________

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Options :

1. Redeemable
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2. Irredeemable
3. Convertible
4. Either a b or c
5. Either a or b

Answer : Irredeemable

Explanation :

Section 55.Issue and redemption of preference shares: (1) No company limited by shares
shall, after the commencement of this Act, issue any preference shares which are
irredeemable.

Question No. 22

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PFRDA Legal Phase II Paper II 2022 Previous Year Paper

In case of a property already subjected to mortgage:

Options :

1. It cannot be leased.
2. It can be leased by mortgagor.
3. It can be leased by mortgagee.
4. It can be leased by mortgagor when in possession.
5. It can be leased by mortgagee when in possession.

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Answer : It can be leased by mortgagor when in possession.

Explanation :

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As per the Transfer of Property Act, 1882 S. 65 A
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S. 65A. Mortgagor's power to lease.-- (1) Subject to the provisions of sub-section (2), a
mortgagor, while lawfully in possession of the mortgaged property, shall have power to
make leases thereof which shall be binding on the mortgagee.
B
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Question No. 23

As per Consumer Protection Act, 2019 a ban can be imposed for how many years due to
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false and misleading advertisement?

Options :
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1. 1 year
2. 3 years.
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3. 1 year and in case of subsequent contravention upto 3 years.

4. No ban imposed
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5. Ban can be imposed in lieu of fin if subsequent contravention.

Answer : 1 year and in case of subsequent contravention upto 3 years.

Explanation :

Consumer Protection Act, 2019

S. 21.(3) Notwithstanding any order under sub-sections (1) and (2), where the Central
Authority deems it necessary, it may, by order, prohibit the endorser of a false or
misleading advertisement from making endorsement of any product or service for a period
which may extend to one year.

Provided that the Central Authority may, for every subsequent contravention, prohibit such
endorser from making endorsement in respect of any product or service for a period which
may extend to three years.

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Question No. 24

A contract of sale of immovable property becomes final when:

Options :

1. It is converted into an actual sale.

2. It is final the day it is made
3. It is final if both the parties agree to sale

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4. It is converted into an agreement to sell.
5. Both A and D.

Answer : It is converted into an actual sale.

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Explanation : ee
We can say that a contract of sale is a broader term where two parties agree to exchange
goods in return for a consideration. When the exchange takes place immediately, it is
B
termed as sale. However, when it is supposed to take place in the future, it is known as an
agreement to sell.
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Question No. 25
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The presiding officer in an arbitral tribunal of 3 arbitrators shall be appointed by ?

Options :
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1. 2 arbitrators jointly shall appoint the presiding arbitrator.

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2. Party initiating arbitration may appoint the presiding arbitrator.

3. Any of the parties may appoint presiding arbitrator.
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4. Both parties jointly may appoint the presiding arbitrator

5. Court shall appoint the presiding arbitrator.

Answer : 2 arbitrators jointly shall appoint the presiding arbitrator.

Explanation :

Arbitration and Conciliation Act, 1996.

S. 13. Appointment of arbitrators

The arbitrators shall be impartial and independent of the parties and shall be qualified for
the office. The parties shall if possible appoint the arbitrators jointly.

If the arbitral tribunal is to comprise three arbitrators and the parties fail to agree on its
composition, each party shall appoint one arbitrator. The time-limit for making the
appointment shall be one month after the party received the request to appoint an

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arbitrator. The two arbitrators thus appointed shall within one month jointly appoint the third
arbitrator who shall act as chairman of the arbitral tribunal.

Question No. 26

Which of the following is role of conciliator as per Arbitration and Conciliation Act, 1996?

Options :

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1. Assisting the parties.
2. Making proposals for settlement c.
3. The proposals shall be accompanied by statement of reasons thereof

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4. A and B
5. A, B and C ee
Answer : A and B
B
Explanation :
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Arbitration and Conciliation Act, 1996.

S. 67. Role of conciliator.—

(1) The conciliator shall assist the parties in an independent and impartial manner in their
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attempt to reach an amicable settlement of their dispute.

(2) The conciliator shall be guided by principles of objectivity, fairness and justice, giving
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consideration to, among other things, the rights and obligations of the parties, the usages
of the trade concerned and the circumstances surrounding the dispute, including any
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previous business practices between the parties.

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(3) The conciliator may conduct the conciliation proceedings in such a manner as he
considers appropriate, taking into account the circumstances of the case, the wishes the
parties may express, including any request by a party that the conciliator hear oral
statements, and the need for a speedy settlement of the dispute.

(4) The conciliator may, at any stage of the conciliation proceedings, make proposals for a
settlement of the dispute. Such proposals need not be in writing and need not be
accompanied by a statement of the reasons therefor.

Question No. 27

A seller can be liable for product liability:

Options :

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1. In no case.
2. In case there is an express warranty made by seller.
3. In case there is some modification in the product by seller which leads to a
substantial harm.
4. Both B and C.
5. B and in case there is some modification made by manufacturer also but leads to
substantial harm.

Answer : Both B and C.

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Explanation :

CP Act, 2019.

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S. Section 86 of the Act lists the instances under which a product seller (who is not a
product manufacturer) shall be liable in a product liability action for a harm caused by a
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defective product sold by the product seller. They are:

(a) if the product seller had exercised substantial control over the designing, testing,
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manufacturing, packaging or labelling of a product that caused harm.
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(b) if product seller alters or modifies the product and such alteration or modification
becomes the substantial factor in causing the harm.

(c) if product seller has made an express warranty of a product, independent of any
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express warranty made by a manufacturer and such product failed to conform to the
express warranty made by the product seller which caused the harm.
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(d) if a product has been sold by the product seller and the identity of the product
manufacturer of such product is not known, or if known, the service of notice or process or
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warrant cannot be effected on the product manufacturer or the product manufacturer is not
subject to the law, which is in force in India or the order, if any, passed or to be passed
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cannot be enforced against the product manufacturer.

(e) if the product seller fails to exercise reasonable care in assembling, inspecting or
maintaining such product or if it does not pass on the warnings or instructions of the
product manufacturer regarding the dangers involved or proper usage of the product while
selling such product and such failure was the proximate cause of the harm.

Question No. 28

Which of the following option adds a correct explanation/extension of the principle of

priority under the Transfer of Property Act ?

Options :

1. It is never lost

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2. It is never lost fully.

3. It is lost due to negligence of prior mortgagee.
4. It is lost due to negligence of subsequent mortgagee.
5. It is lost due to negligence of mortgagor.

Answer : It is lost due to negligence of prior mortgagee.

Explanation :

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S. 78 postponement of prior mortgagee.

Where, through the fraud, misrepresentation or gross neglect of prior mortgagee, another
person has been induced to advance money on the security of the mortgaged property,
the prior mortgagee shall be postponed to the subsequent mortgagee.

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Question No. 29
B
If the trustee does not want to accept the trust property he may
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Options :

1. Disclaim it.
2. reject it
.ix

3. ignore it
4. disclaim it within reasonable period
5. revert it back to the author.
w

Answer : disclaim it within reasonable period

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Explanation :
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The Indian Trust Act, 1882

S. 10.

Disclaimer of trust.— Instead of accepting a trust, the intended trustee may, within a
reasonable period, disclaim it, and such disclaimer shall prevent the trust-property from
vesting in him.

Question No. 30

Art.13 is not applicable to?

Options :

1. Laws made by union territories

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2. Law made for amending any other statute

3. Law made for amendment of the constitution of India.
4. Law made for amendment seeking protection of Fundamental Rights
5. is applicable to all laws in force in the territory of India.

Answer : Law made for amendment of the constitution of India.

Explanation :

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As per the 24th Amendment Act, 1971 which has restored and extended the scope of
power of Parliament to amend the Constitution by adding the words "amend by way of
addition or variation or repeal any provision in accordance with the provisions laid down in
this Article" Further, the amendment provided that "Nothing in Article 13 shall apply to any
amendment made under this article" by way of an addition of Clause 3 to Article 368.

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Question No. 31
B
What is the age of retirement of a Supreme Court judge?
am

Options :

1. 60
2. 62
.ix

3. 65
4. 67
5. 63
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Answer : 65
w

Explanation :
w

At present, the retirement age is 65 years for Supreme Court judges and 62 years for high
court judges.

Union Parliament decides the retirement age for both Supreme Court and High Court
judges.

Question No. 32

How many years of experience is required to become a High Court Judge in India?

Options :

1. 10 years as an advocate.
2. 10 years as an advocate of High Court.

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3. 10 years as a Judicial officer in the territory of India

4. 10 years as an advocate of High Court or 10 years held a Judicial office in the
territory of India.
5. 10 years as an advocate of High Court or 5 years as a Judicial officer in the
territory of India.

Answer : 10 years as an advocate of High Court or 10 years held a Judicial office in the
territory of India.

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Explanation :

As per Art. 217 of the Constitution.

(2) A person shall not be qualified for appointment as a Judge of a High Court unless he is

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a citizen of India and
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(a) has for at least ten years held a judicial office in the territory of India; or

(b) has for at least ten years been an advocate of a High Court or of two or more such
B
Courts in succession; Explanation For the purposes of this clause.
am

Question No. 33
.ix

When a member is not allowed to participate in the meeting of the Board?

Options :
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1. When he is a director of a company

2. When he has indirect pecuniary interest in the matter coming up for consideration
w

3. When he is a director of a company and who as such director has any direct or
indirect pecuniary interest in any matter coming up for consideration
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4. When he is owner of a company

5. When his participation is questionable

Answer : When he is a director of a company and who as such director has any direct or
indirect pecuniary interest in any matter coming up for consideration

Explanation :

Section 7A of SEBI Act

Member not to participate in meetings in certain cases.—Any member, who is a director of

a company and who as such director has any direct or indirect pecuniary interest in any
matter coming up for consideration at a meeting of the Board, shall, as soon as possible
after relevant circumstances have come to his knowledge, disclose the nature of his
interest at such meeting and such disclosure shall be recorded in the proceedings of the
Board, and the member shall not take any part in any deliberation or decision of the Board
with respect to that matter.

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Question No. 34

Indian Taxation law is based on which of the following principle?

Options :

1. Horizontal Equity
2. Vertical Equity
3. Cost of Service

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4. Benefit
5. None of the above

Answer : Vertical Equity

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Explanation : ee
Vertical Equity : This means that unequals should be treated unequally. This concept is
also known as ability-to-pay principle. It means the total tax burden will be distributed
B
among individuals according to their capacity to bear it, taking into account all of the
relevant personal characteristics.
am

• The ethical base of this principle rests on the assumption that one rupee paid in
taxes by a rich person represents less sacrifice than does the same rupee tax paid by a
poor man and that fairness demands equal sacrifice by both rich and poor in support of
.ix

government.

• Example : Income tax- a progressive tax structure.

w
w

Question No. 35
w

Which of the following punishments can an Assistant Session Judge impose?

Options :

1. Imprisonment for life

2. Imprisonment for a term exceeding 10 years
3. Death sentence
4. Imprisonment for a term less than 10 years
5. Death sentence subject to approval by High Court

Answer : Imprisonment for a term less than 10 years

Explanation :

Section 28 CrPC

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Sentences which High Courts and Sessions Judges may pass—(1) A High Court may
pass any sentence authorised by law.

(2) A Sessions Judge or Additional Sessions Judge may pass any sentence authorised by
law; but any sentence of death passed by any such Judge shall be subject to confirmation
by the High Court.

(3) An Assistant Sessions Judge may pass any sentence authorised by law except a
sentence of death or of imprisonment for life or of imprisonment for a term exceeding ten

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years.

Question No. 36

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Who shall preside over the meetings of the Board in the absence of the Chairman, under
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SEBI Act?

Options :
B
1. Senior most member
am

2. Member chosen by the chairman

3. Member chosen by the members present from amongst themselves
4. Proxy chosen by the members
5. Proxy chosen by the members
.ix

Answer : Member chosen by the members present from amongst themselves

w

Explanation :

Section 7 of SEBI Act

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Meetings—(1) The Board shall meet at such times and places, and shall observe such
w

rules of procedure in regard to the transaction of business at its meetings (including

quorum at such meetings) as may be provided by regulation.

(2) The Chairman or, if for any reason, he is unable to attend a meeting of the Board, any
other member chosen by the members present from amongst themselves at the meeting
shall preside at the meeting.

(3) All questions which come up before any meeting of the Board shall be decided by a
majority votes of the members present and voting, and, in the event of an equality of votes,
the Chairman, or in his absence, the person presiding, shall have a second or casting vote.

Question No. 37

When a person intentionally or without justification hurt someone, it is called

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Options :

1. Battery
2. Assault
3. Grievous Hurt
4. Affray
5. Criminal Conspiracy

Answer : Battery

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Explanation :

Assault and battery are related but distinct crimes, battery being the unlawful application of
physical force to another and assault being an attempt to commit battery or an act that

.c
causes another reasonably to fear an imminent battery.
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Question No. 38
B
Criminal conspiracy is when two or more persons agree to do, or cause to be done
am

Options :

1. A legal act by legal means

.ix

2. An illegal act by legal or illegal means

3. A legal act by illegal means
4. Both a and b
w

5. Both b and c

Answer : Both b and c

w

Explanation :
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Section 120A of IPC

Definition of criminal conspiracy.—When two or more persons agree to do, or cause to be

done,—

(1) an illegal act, or

(2) an act which is not illegal by illegal means, such an agreement is designated a criminal
conspiracy:

Question No. 39

A person summoned to produce a document

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Options :

1. Is a witness
2. Is not a witness
3. Is a witness but cannot be cross-examined
4. Is a witness and can be cross-examined
5. Is not a witness and cannot be cross-examined

Answer : Is not a witness and cannot be cross-examined

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Explanation :

Section 139 of Evidence Act

.c
Cross-examination of person called to produce a document. –– A person summoned to
produce a document does not become a witness by the mere fact that he produces it, and
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cannot be cross-examined unless and until he is called as a witness.
B
Question No. 40
am

Witness to character may be

Options :
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1. Cross-examined
2. Re-examined
3. Examined
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4. Cross-examined or re-examined
5. Cross-examined or examined-in-chief
w

Answer : Cross-examined or re-examined

w

Explanation :

Section 140 of Evidence Act

Witnesses to character. –– Witnesses to character may be cross-examined and re-

examined

Question No. 41

What is the tenure for which an auditor can be appointed as per the Companies Act?

Options :

1. For a total term of fifteen years

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2. An individual as auditor for one term of five consecutive years

3. An audit firm as auditor for two terms of five consecutive years
4. Either a or b or c
5. Both b & c

Answer : Both b & c

Explanation :

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Section 139.Appointment of auditors: (2) No listed company or a company belonging to
such class or classes of companies as may be prescribed, shall appoint or re-appoint— (a)
an individual as auditor for more than one term of five consecutive years; and (b) an audit
firm as auditor for more than two terms of five consecutive years.

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Question No. 42
ee
No company limited by shares shall, after the commencement of the Companies Act, issue
B
any preference shares which are ____________
am

Options :

1. Redeemable
2. Irredeemable
.ix

3. Cumulative
4. All a b & c
5. Either a or b
w

Answer : Irredeemable
w

Explanation :
w

Section 55.Issue and redemption of preference shares: (1) No company limited by shares
shall, after the commencement of this Act, issue any preference shares which are
irredeemable.

Question No. 43

No dividend shall be declared or paid by a company for any financial year except_____

Options :

1. Out of the profits of the company for any previous financial year
2. Out of the profits of the company for that year arrived at after providing for
depreciation

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3. Out of money provided by the Central Government or a State Government in

pursuance of a guarantee
4. All a or b or c
5. Either a or b

Answer : All a or b or c

Explanation :

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Section 123.Declaration of dividend: (1) No dividend shall be declared or paid by a
company for any financial year except— (a) out of the profits of the company for that year
arrived at after providing for depreciation in accordance with the provisions of sub-section
(2), or out of the profits of the company for any previous financial year or years arrived at
after providing for depreciation in accordance with the provisions of that sub-section and

.c
remaining undistributed, or out of both or; both or (b) out of money provided by the Central
Government or a State Government for the payment of dividend by the company in
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pursuance of a guarantee given by that Government.
B
Question No. 44
am

A contract entered into by a bailor and a bailee is known as ____________

Options :
.ix

1. Pledge
2. Bailment
w

3. Contractual bail
4. Either a or b or c
w

5. Either b or c

Answer : Bailment
w

Explanation :

Section 148 ‘Bailment’, ‘bailor’ and ‘bailee’ defined: A ‘bailment’ is the delivery of goods by
one person to another for some purpose, upon a contract that they shall, when the
purpose is accomplished, be returned or otherwise disposed of according to the directions
of the person delivering them. The person delivering the goods is called the ‘bailor’. The
person to whom they are delivered is called the ‘bailee’.

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