Tuesday, 27 September 2016

Chief General Manager Exam 27-01-2015 Category Code: 297/2011 - Part 5

41.       The term 'not binding in law' related to
(A) Valid contract         (B) Voidable contract
(C) Void contract          (D) Unenforceable contract
Answer: C
42.       As per Indian Contract Act, which of the statement is not true
(A) Consideration of the contract may be past, present or future
(B) Consideration may move from the promissee or any other person
(C) A wager is an agreement by which money is payable by one person on the happening of an event only
(D) Both (A) & (B)
Answer: C
43.       Contract of guarantee described as per section…………..
(A) 126               (B) 112
(C) 136              (D) 146
Answer: A
44.       In a contract of guarantee, a person who promises to discharge another’s liability, is known as …………..
(A) Principal debtor     (B) Creditor
(C) Surety                     (D) Indemnified
Answer: C
45.       Which of the following statement is true as per Indian Contract Act
(A) Past Consideration does not the part of Indian contract act
(B) Consideration must be adequate
(C)  Consideration must result in a benefit to both parties
(D) None of these
Answer: D

46.       The Consumer Protection Act provides for a three tier consumer disputes redressal system, in which the National Commission was established by the Central Government in August ………….
(A) 1986                        (B) 1987
(C) 1988                        (D) 1989
Answer: C
47.       Section 14 of IRDA Act,1999 lays down ………….
(A) Objectives of IRDA
(B) Duties, Powers and Functions of IRDA
(C) Penalties of IRDA
(D) Supervision of IRDA
Answer: B
48.       TRAI should have a chair person. It should have a minimum …………. members but number of members should not exceed ………….
(A) 2,5                (B) 3,6
(C) 2,8                (D) 2,6
Answer: D
49.       As per Industrial Policy Resolution 1956, Industries are classified in to
(A) Schedule A,B        (B) Schedule A,B and C
(C) Schedule A only   (D) Schedule A, B, C and D
Answer: B
50.    Which of the following statement is not true
(A) Company Law Board was constituted by the Central Government as an independent institution in 1991 as per Companies Act 1956
(B) The members of Company Law Board are appointed by Central Government
(C) The maximum number of members of Company Law Board is appointed by Central Government
(D) Any voluntary consumer organization registered under the Societies registration Act 1860 can file a complaint to Consumer Protection Act.
Answer: C


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