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GENESIS ACADEMY OF BANKING & FINANCE, PUNE

Certificate Course for Debt Recovery Agents

Model Test II

1. Collateral security means:


a) Goods pledged/hypothecated
b) Advance against supply bills
c) Advance against material
d) Additional security offered by the borrower over and above the prime
security

2. Charging a security means:


a) Take physical possession of the security offered
b) Registration of charge with Registrar of Companies
c) Making security available as a cover for an advance in case of default
by the borrower
d) None of the above

3. Mortgage means:
a) Sale of immovable property
b) Bailment of property
c) Pledging a property
d) Transfer of interest in specific immovable property for the purpose of
securing loan

4. In case of equitable mortgage:


a) Mortgage deed is registered with Sub Registrar
b) Mortgage deed is executed and registered with the bank
c) No mortgage deed is required to be executed
d) None of the above

5. Liability of guarantor is :
a) Primary
b) Co exercisable with that of the creditor
c) Co extensive with that of a principal debtor
d) None

6. The role functions and tasks of the recovery agents will be generally
mentioned in:
a) Application for appointment
b) Debt recovery agreement/ agency agreement
c) Paper publication circulated
d) Fair practices code

7. Securitization and Reconstruction of Finance Assets and Enforcement of


Banking Security Interest (SARFAESI) Act allowed the bank to take
possession of assets of defaulting borrowers charged to the bank:
a) With legal process
b) Without legal process
c) With permission of Lok Adalat
d) None
8. Terms and conditions in the loan agreement include:
a) Purpose of loan
b) Security offered
c) Installments fixed
d) All the above

9. As per code of conduct the recovery agents can contact the borrowers over
phone:
a) Between 10 hrs. and 12 hrs.
b) Between 7 hrs. and 19 hrs.
c) On Sundays only
d) After 7 p.m.

10. Repayment period for home loans granted by individual banks may vary, the
maximum period granted is
a) 15 years
b) 20 years
c) 25 years
d) any of the above depending upon the repayment capacity of the
borrower.

11. Main principles of effective communications are:


a) Language should be courteous
b) Communication should be clear
c) Language used to be simple
d) All the above

12. Which of the following are interpersonal skills?


a) Show empathy and respect to the other party
b) Do not make debtor feel anxious/ unsafe / threatened
c) Give all the information asked in connection with the debt
d) All the above.

13. Interest on term deposits is compounded every:


a) 3 months
b) 6 months
c) 9 months
d) 12 months

14. A good recovery agent should be a good communicator and also


a) A good banker
b) A good listener
c) A good speaker
d) None of the above

15. Non repayment of loan would result in


a) Charging higher interest rate
b) Charging lower interest rate
c) Waiver of interest
d) None of the above

16. Debt Recovery Agent’s duty is collection of dues on behalf of the principal, he
cannot waive/ reduce the dues which only the
a) Court can do
b) Principal can do
c) Lok Adalat Can do
d) None of the above

17. Willful defaulters show following responses:


a) They would avoid responding to the calls of the recovery agents
b) They would meetings with recovery agent canceling appointments
c) They will give falls promises
d) All the above

18. Debtors are classified as:


a) Normal, Difficult and Doubtful
b) Standard, Sub standard and Doubtful
c) Prompt , Irregular and Regular
d) None of the above

19. In case of a ‘willful defaulter’, the recovery agent should:


a) Collect the documentary evidence to prove the debtor’s negative
responses to his collection efforts
b) Preserve the documentary evidence
c) Collect and send the documentary evidence to the principal
d) Collect, preserve and send copies of the documentary evidence to the
principal for further action.

20. A loan for a refrigerator is granted against the security of:


a) Pledge of the item financed
b) Hypothecation of the item financed
c) Mortgage of the item financed
d) Mortgage of all assets of the borrower

21. The term ‘EMI’ in a housing or vehicle loan is calculated on the basis of:
a) Principal of the loan
b) Principal and Interest on the loan
c) Interest on the loan
d) Principal and Processing charges on the loan

22. A ‘Standard Asset’ of a bank is defined as an asset which is:


a) Not a Non- Performing Asset (NPA)
b) A Doubtful Asset
c) A Loss Asset
d) None of the above

23. A loan or advance of a bank is defined as ‘Non Performing Asset’ (NPA)


when it remains overdue or out of order for a period of:
a) Less than 90 days
b) For 90 days
c) Over 90 days
d) Over 180 days

24 Loans and advances of banks appear in their balance sheets on the side of:
a) Liabilities
b) Assets
c) Income
d) Expenses

25. Recovery agents have a duty to keep confidentiality of customer’s accounts and
other information, in terms of:
a) The Contract Act
b) The IBA’s Model Policy on Collection of dues
c) The RBI’s draft guidelines on recovery agents engaged by banks
d) All the above

26. The generic provisions for rights and duties of agents are contained in:
a) The Constitution of India
b) The Contract Act
c) The Companies
d) None of the above

27. While making a first telephone call to a customer for recovery of dues, a recovery
agent should:
a) Only disclose his/ her identity
b) Disclose his/ her identity and also authority to collect the dues
c) Discuss with the customer about payment of the dues
d) Do both (b) and (c) above

28. Before making a telephone call to a customer, a recovery agent should ensure
that:
a) He / she has been authorized by the bank to collect the due debt from the
customer
b) The customer has been notified by the bank of the details (name,
telephone number, etc) of the recovery agent for collection of the due debt
c) Both the above requirements are followed
d) None of the above is necessary

29. The recovery agents of a bank should follow:


a) Only the debt recovery policy and procedure of the bank (principal)
b) Only the directives of RBI on recovery agents engaged by banks
c) Only the Model Policy on collection of dues etc. framed by IBA
d) All the above

30. The function(s) of recovery agents under an Agency agreement include:


a) Only collection of the specified dues from the customers
b) Only documenting and reporting collections / developments to the principal
c) Only remitting the collection of dues to the principal
d) All the above

31. The term ‘debtor’ means:


a) A person who owes some debt
b) A person to whom some debt is owed
c) Lender
d) None of the above.

32. The bank which pays the merchant for the transactions is called as :
a) issuer bank
b) clearance bank
c) acquirer bank
d) none of the above
33. When the Banker-customer relationship is terminated.?
a. On the death of the customer.
b. On customer becoming lunatic.
c. On customer being declared insolvent.
d. On closure of the account

34. Common points to be followed in recovery strategies:


a) Establishing good rapport with the debtor
b) Go through KYC and personal profile of the borrower
c) Go through the copy of loan agreement
d) All the above

35. Facial expression and Eye Contact is called as:


a)Verbal communication
b) Non- verbal communication
c) a or b
d)Body language

36. Debt Recovery Agents do the job of:


a) Collecting of receivables of banks
b) Collecting of receivables of credit card companies
c) Collecting of receivables of Financial institutions
d) All the above

37. Equitable mortgage can be created


a) at notified centres, on any immovable property situated anywhere in India
b) at notified centres from the state , on any immovable property situated
within that state
c) only at the metropolitan cities from the state on any immovable property
situated within that state.
d) none of the above.

38. Though the repayment period for home loans granted by individual banks may
vary, the maximum period granted is
a) 15 years
b) 20 years
c) 25 years
d) any of the above depending upon the repayment capacity of the borrower

39. Which of the following is not correct?


a) Proper listening improves flow of communication
b) Proper listening removes psychological distance between two persons
c) Objective of communication should be clear
d) None

40. The Code of Conduct for Debt Recovery Agents ( DRAs) of Banks is built around
the dignity and respect to customers. Yes / No

41. Which of the following is not correct?


(a) In a deposit account the relationship between the bank and the
customer is that of debtor and creditor (Bank-debtor, Customer-creditor).
(b) In case of loan account/advance, the bank is the creditor and the
customer is debtor.
(c) In the case of deposit of safe custody of valuables, the bank is the
lessor and the customer is the lessee.
(d) None

42. Difficult recovery process means where the debtors are not willing to pay and
who intentionally resist or avoid recovery efforts . Yes / No

43. Leadership skills mean guiding and supporting others to accomplish something.
Yes / No

44. Interpersonal skills mean relating with other people and communicating with
them. Yes / No

45. In debit card billing is done once in a month. Yes / No

46. 100 hrs training course is for better behavior with defaulters. Yes/ No

47 . Good etiquettes do not help in debt recovery. Yes/ No

48. Agency Agreement contains full data of the borrower. Yes/ No

49. Code of Conduct is decided by RBI. Yes / No

50. Giving prior notice to borrower for repossession of security is necessary.


Yes / No

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