As you asking for the Previous year question paper of the IBPS Specialist Officer Law Examination the question paper is as follow


Under outsourcing of banking services, the customer is to be allowed a time period of _ for lodging complaint with the Ombudsman, if the customer does not get satisfactory response from the bank:

10 days
15 days
30 days
60 days
75 days

“Escrow” is a term used to denote:
negotiability of the instrument
an instrument incomplete in respect of date
an instrument without consideration
conditional delivery of the instrument
None of these

What is the maximum amount of fee payable for filing a Recovery case with the Debt Recovery Tribunal?
Rs.1 lakh
Rs.1,20,000.
Rs.1,50,000.
12% of the debit amount.
None of these.

Which of the following statements, is correct regarding securitization of Asset?
Bank can take possession of Asset and sale itself or it can hand over to Re-construction Company.
Securitised Company can act as secured creditor.
Securitised Company gets all the Right of secured creditor.
All of the above.
None of these.

The unfair Trade Practice includes:
Quality and Quantity
Potency and Purity
Standard and price of goods and services.
All of the above.
None of these.

Which of the following complaints can be lodged with the Banking Ombudsman regarding loans?
Non-charging of interest as per RBI guidelines.
Delay in disposal of loan applications beyond prescribed time limit of RBI.
Not granting the loans as per guidelines.
All of the above.
None of these.

The difference between Sale and Bailment is:
Ownership is transferred to Buyer in the sale.
Buyer has no obligation to return the goods.
In the contract of Bailment- both (1)and (2)are not applicable.
both (1) and (2).
None of these.

Which of the following is not the essential of a contract?
Transfer of ownership.
Immediate delivery of the goods.
The contract must satisfy essentials of a valid contract.
Goods must be a movable property.
None of these.

A private company is which:
Restricts the right to transfer its shares.
Limits the number of members to 50.
Restricts the subscription of shares or debentures from the public.
All of the above
None of these.

Which of the following are the duties of a Bailor?
To disclose all the faults and defects in the goods Bailed.
Bailor must compensate the loss to Bailee.
Duty of the Bailor is to make aware the Bailee all the risk factors associated with the goods.
All of the above.
None of these.

The essentials of a valid contract are
There should be an offer.
Offer must be accepted.
The parties to the consent must have free consent.
All of the above.
None of these.

When a guaranteed loan is repaid by the guarantor the:
guarantor steps in shoes of the bank
securities in possession of creditors will be handed over to him
guarantor is not entitled to the securities
both (1) and (2)
None of these

A minor is competent to endorse an instrument:
Subject to approval of the guardian
without incurring any liability
with the consent of all parties
the statement is not true
None of these

Which of the following statement is correct regarding Bankers Book Evidence Act?
No officer of a Bank can be compelled to produce any Bankers Books unless it is specially ordered by the court.
The above position (1) applies only when Bank is not a party to the case.
An investigating Police officer can compel a Bank officer to produce the Books without court order.
All of the above
None of these

Where is Appellate Tribunal is located?
Thiruvanthpuram
Mumbai
Each State Head Quarter
All of these
None of these

What are the Rights available to a secured creditor?
To sell the Assets.
File application with DRT for recovery of full or remaining dues.
To proceed against the guarantor.
All of the above
None of these

Which of the following Rights of a consumer are protected under consumer protection Act,1986?
The Right to be protected against making of goods which are hazardous of life and property.
The Right against unfair trade practices.
The Right to be assured access to a variety of goods and services at competitive prices.
All of the above
None of these

The complaints which can be lodged with the Banking Ombudsman are:
Delay in providing various services.
Complaints regarding exporters.
Delay in remittance to NRI.
All of the above.
None of these.

Which of the following loan accounts can be referred to Lok Adalat?
All NPA accounts.
Both suit filed and non-suit filed accounts.
Where liability does not exceed Rs.20 lacs.
All of the above.
None of these.

Which of the following statements is correct?
When neither the Bailor nor the Bailee is entitled to any remuneration is called gratitous Bailment.
Where either the Bailee or the Bailor is entitled to remuneration is called non-gratitous Bailment.
Motor car let out for hire is a contract of non-gratitous Bailment.
All of the above.
None of these.

The essential elements of sale are:
There should be a minimum of two parties.
The subject matter of a contract of sale must be goods.
The consideration of sale must be in money.
All of the above.
None of these.

Which of the following is not an advantage of a company?
In case of liquidation shareholders do not get priority in payment.
Transfer of company’s shares provides liquidity.
Members share the profits by the way of dividend.
Company affords better borrowing facilities.
None of these.

Who can be a partner of a firm?
Any person who is competent to contract.
Any adult individual who is of sound mind.
HUF represented by “Karta”.
All of the above.
None of these.

The special category of clients includes:
Politically exposed persons.
Companies offering foreign exchange.
Clients in high risk countries.
All of the above.
None of these.

Which of the following is correct regarding obtaining of information?
A person seeking information has to give in writing.
PIO has to provide information within 30 days.
If information is relating to life or liberty of a person,it will be provided within 48 hours.
All of the above.
None of these.