MCQ on FEMA Act 1999

In this article, we are providing you MCQ on Fema Act 1999 which will help you to understand the Fema Act 1999 MCQs pdf with Answers to multiple-choice questions. The Foreign Exchange Management Act, 1999 (FEMA).

1) When did Fema Act 1999, come into force? (The Foreign Exchange Management Act, 1999)

A) 01 April 2000
B) 01 March 1999
C) 01 June 2000
D) 23 April 1999

Answer –C) 01 June 2000

2) Which section of the Fema Act 1999 deals with Exemption from realization and repatriation in certain cases.?

A. Section 12 of Fema Act 1999
B. Section 9 of Fema Act 1999
C. Section 14 of Fema Act 1999
D. Section 20 of Fema Act 1999

Answer B. Section 9 of Fema Act 1999

Which section of the Fema Act 1999 deals with Appointment of Adjudicating Authority_?

A. Section 16 of Fema Act 1999
B. Section 14 of Fema Act 1999
C. Section 13 of Fema Act 1999
D. Section 18 of Fema Act 1999

Answer – A. Section 16 of Fema Act 1999

Section 27 of Fema Act 1999 deals with_______?

A. Appeal to High Court.
B. Staff of Special Director (Appeals)
C.Presumption as to documents in certain cases.
D. Power of Reserve Bank to inspect authorised person

Ans- B. Staff of Special Director (Appeals)

5.Qualifications, for appointment of Special Director (Appeals), is provided in section____ of Fema Act 1999

A. Section 24 of Fema Act 1999
B. Section 22 of Fema Act 1999
C. Section 21 of Fema Act 1999
D. Section 23 of Fema Act 1999

Ans- C. Section 21 of Fema Act 1999

Section 16 of Fema Act 1999provides _?

A.Appointment of Adjudicating Authority
B. Appeal to Appellate Tribunal
C.Terms and Conditions of service Special Director (Appeals)
D.Directorate of Enforcement

Ans A.Appointment of Adjudicating Authority

MCQs on Fema Act 1999 with answers pdf

Which section of the Fema Act 1999 deals with Section 4 of Fema Act 1999 ?

A. Section 7 of Fema Act 1999
B. Section 4 of Fema Act 1999
C. Section 5 of Fema Act 1999
D. Section 9 of Fema Act 1999
Answer – B. Section 4 of Fema Act 1999

Section 48 of Fema Act 1999 deals with_______?

A. Rules and regulations to be laid before Parliament.
B. Death or insolvency in certain cases
C. Suspension of operation of this Act
D. Civil court not to have jurisdiction

Ans- A. Rules and regulations to be laid before Parliament.

9) Which section of the Fema Act 1999 deals with Realisation and repatriation of foreign exchange ?

A. Section 7 of Fema Act 1999
B. Section 8 of Fema Act 1999
C. Section 4 of Fema Act 1999
D. Section 5 of Fema Act 1999

Answer B. Section 8 of Fema Act 1999

10) Section 10 of Fema Act 1999 deals with_______?

A.Reserve Bank’s powers to issue directions to authorized person
B.Dealing in foreign exchange, etc.
C. Authorised person
D. Power to compound contravention

Answer- C. Authorised person