MCQ on SARFAESI Act 2002

In this article, we are providing you MCQ on SARFAESI Act 2002 which will help you to understand SARFAESI Act 2002MCQ pdf with Answers multiple-choice questions. SARFAESI Act 2002 means The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

MCQ on SARFAESI Act 2002

1) When did SARFAESI Act 2002, come into force?

A) 01 April 2002
B) 01 March 2003
C) 21 June 2002
D) 23 April 2003

Answer –C) 21 June 2002

2) Which section of the SARFAESI Act 2002 deals with Measures for assets reconstruction?

A. Section 12 of SARFAESI Act 2002
B. Section 9 of SARFAESI Act 2002
C. Section 14 of SARFAESI Act 2002
D. Section 20 of SARFAESI Act 2002

Answer B. Section 9 of SARFAESI Act 2002

3. Which section of SARFAESI Act 2002 deals with No compensation to directors for loss of office_?

A. Section 16 of SARFAESI Act 2002
B. Section 14 of SARFAESI Act 2002
C. Section 13 of SARFAESI Act 2002
D. Section 18 of SARFAESI Act 2002

Answer – A. Section 16 of SARFAESI Act 2002

4. Section 25 of SARFAESI Act 2002 deals with_______?

A.Civil court not to have jurisdiction
B. Asset reconstruction company or secured creditors to report satisfaction of security interest.
C..Cognizance of offence
D. Right to lodge a caveat

Ans- B. Display by notice of abstracts of the Act

5.Register of securitisation, reconstruction and security interest transactions, is provided in section____ of SARFAESI Act 2002

A. Section 24 of SARFAESI Act 2002
B. Section 22 of SARFAESI Act 2002
C. Section 21 of SARFAESI Act 2002
D. Section 23 of SARFAESI Act 2002

Ans- B. Section 22 of SARFAESI Act 2002

6. Section 18 of SARFAESI Act 2002provides _?

A.Appeal to Appellate Tribunal
B. Enforcement of security interest
C. No compensation to directors for loss of office
D. Priority to secured creditors.

Ans – A.Appeal to Appellate Tribunal

MCQ on SARFAESI Act 2002 with answers pdf

7. Which section of the SARFAESI Act 2002 deals with the Acquisition of rights or interest in financial assets?

A. Section 7 of SARFAESI Act 2002
B. Section 4 of SARFAESI Act 2002
C. Section 5 of SARFAESI Act 2002
D. Section 9 of SARFAESI Act 2002

Answer – C. Section 5 of SARFAESI Act 2002

8. Section 12 of SARFAESI Act 2002 deals with_______?

A. Power of Reserve Bank to determine policy and issue directions
B. Registration of asset reconstruction companies.
C. Central Registrar
D. Effect of the registration of transactions, etc.

Ans-A. Power of Reserve Bank to determine policy and issue directions

9) Which section of the SARFAESI Act 2002 deals with the Issue of security by raising receipts or funds by asset reconstruction company?

A. Section 7 of SARFAESI Act 2002
B. Section 9 of SARFAESI Act 2002
C. Section 4 of SARFAESI Act 2002
D. Section 5 of SARFAESI Act 2002

Answer A. Section 7 of SARFAESI Act 2002

10) Section 10 of SARFAESI Act 2002deals with_______?

A. Provisions of this Act not to apply in certain cases
B.Right of enforcement of securities.
C.Other functions of asset reconstruction company
D.Amendments to certain enactments

Answer-C.Other functions of asset reconstruction company