Assertion (A): Under FEMA, the receiver of laundered money is to be made culpable, instead of sender/distributor.Reason (R): FEMA differs from the earlier Exchange Regulation Act FERA with regard to penalties and punishment in case of violation of the act.

Both (A) and (R) are correct and (R) is the correct explanation of (A)

(A) is correct, but (R) is not correct

Both (A) and (R) are correct, but (R) is not the correct explanation of (A)

Both (A) and (R) are correct and (R) is the correct explanation of (A)

Assertion (A): Under FEMA, the receiver of laundered money is to be made culpable, instead of sender/distributor.<br>Reason (R): FEMA differs from the earlier Exchange Regulation Act FERA with regard to penalties and punishment in case of violation of the act.

In which year was the Foreign Exchange Management Act (FEMA) enacted to replace the Foreign Exchange Regulation Act (FERA)?

A

1988

B

1999

C

2014

D

1992

An assertion and a reason are given below. Assertion: The phenomenon of nuclear fission generates great energy. Reason: The process in which a nucleus is broken into two parts is called nuclear fission. Choose the answer. A. Both Assertion and Reason are true and Reason is the correct explanation of Assertion. B. Both Assertion and Reason are true but Reason is not the correct explanation of Assertion. C. Both Assertion and Reason are false. D. Assertion is true but Reason is false.

A

B

D

C

B

D

C

Two statements are followed by two Conclusions I and II. You have to consider the statements to be true, even if they seem to be at variance from commonly known facts. You are to decide which of the given conclusions can definitely be drawn from the given statements and indicate your answer accordingly. Statements: I. The Enforcement Directorate (ED) has sought information on offshore investments by directors of RNT Associates, a closely held firm which functions as a family office and investment vehicle of Ratan Tata. II. The ED order, dated June 14, also calls for details of investments or loans from RNT Associates and its directors to a Singapore-based entity, RNT Associates Ltd. Conclusions: The order is under provisions of the Foreign Exchange Management Act (FEMA) and the documents are being sought for the purpose of investigation under FEMA. The nature of queries from Enforcement Directorate is related to RNT Associates’ investment portfolio. It is compliant with all disclosures and existing laws governing investments and is extending all cooperation.

A

Only conclusion 2 follows

B

Only conclusion 1 follows

C

Either conclusion 1 or 2 follows

D

Neither conclusion 1 nor 2 follows

E

Both conclusions 1 and 2 follow

On which one of the following issues can SEBI penalise any company in India?
1. Violation of Banking Regulation Act.
2. Violation of foreign portfolio investment guidelines.
3. For violation of Negotiable Instruments Act.

A

Only 2

B

Only 1 and 2

C

All 1, 2 and 3

D

Only 1

Assertion (A): Reserve Bank of India is an important regulatory and administrative authority to execute FEMA provisions. Reason (R): Being monetary authority and custodian of foreign exchange, Reserve bank of India enjoys requisite expertise of FEMA administration. In the context of the above two statements, which one of the following option is correct?

A

Both A) and R) are correct and R) is the right explanation of A)

B

Both A) and R) are correct but R) is not the right explanation of A)

C

Both A) and R) are incorrect

D

A) is correct and R) is not correct

Assertion (A): Reserve Bank of India is an important regulatory and administrative authority to execute FEMA provisions.
Reason (R): Being monetary authority and custodian of foreign exchange, Reserve Bank of India enjoys requisite expertise of FEMA administration.
In the context of the above two statements, which one of the following option is correct?

A

Both (A) and (R) are correct and (R) is the right explanation of (A)

B

Both (A) and (R) are correct, but (R) is not the right explanation of (A)

C

Both (A) and (R) are incorrect

D

(A) is correct and (R) is not correct

Which of the following is/are true about Bill of Exchange?
1. A bill of exchange requires in its inception two parties.
2. A bill of exchange or 'draft' is a written order by the drawer to the drawee to pay money to the payee.
3. Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date.
4. Definition of 'Bill of Exchange' is mentioned in Section 6 of the Negotiable Instrument Act.

A

1 and 4

B

1, 2 and 4

C

2 and 3

D

3 and 4

India's first gas exchange, the Indian Gas Exchange (IGX), was launched as a wholly owned subsidiary of Indian Energy Exchange. Which of the following statements are correct? 1. It is a digital trading platform that will allow buyers and sellers to trade both in the spot market and in the forward market for imported natural gas. 2. It will allow trade across three hubs - Dahej and Hazira in Gujarat and Kakinada in Andhra Pradesh. 3. Imported Liquified Natural Gas (LNG) will be regassified and sold to buyers through the exchange, removing the requirement for buyers and sellers to find each other. 4. Only inter-governmental trade in domestically produced natural gas is allowed at the gas exchange. Select the correct answer using the code given below:

A

Only 1 and 2

B

Only 1 and 3

C

Only 1, 2 and 3

D

1, 2, 3 and 4

Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives.
True, It is the function of the army to maintain law and order in abnormal times. But in normal times there is another force that compels citizens to obey the laws and to act with due regard to the rights of others. The force also protects the lives and the properties of law abiding men. Laws are made to secure the personal safety of its subjects and to prevent murder and crimes of violence. They are made to secure the property of the citizens against theft and damage to protect the rights of communities and castes to carry out their customs and ceremonies, so long as they do not conflict with the rights of others. Now the good citizen, of his own free will obey these laws and he takes care that everything he does is done with due regard to the rights and well-being of others. But the bad citizen is only restrained from breaking these laws by fear of the consequence of his actions. And the necessary steps to compel the bad citizen to act as a good citizen are taken by this force. The supreme control of law and order in a State is in the hands of a Minister who is responsible to the State Assembly and acts through the Inspector General of Police.
"They are made to secure the property of citizens against theft and damage" means that the law:

A

Helps in recoverring the stolen property of the citizens.

B

Assists citizens whose property has been stolen or destroyed.

C

Initiate process against offenders of law.

D

Safeguards peoples possessions against being stolen or lost.

Which of the following statements are correct with reference to superheterodyne receivers? (i) The main advantage of the superheterodyne receiver is its better tracking (ii) The main advantage of the superheterodyne receiver is an improvement in sensitivity (iii) The image channel rejection in superheterodyne receiver comes from IF stages only (iv) The image channel rejection in the superheterodyne receiver comes from the RF stage only Choose the correct answer from the code given below:

A

(i) and (ii) are correct

B

(ii) and (iii) are correct

C

(ii) and (iv) are correct

D

(i) and (iv) are correct

Assertion (A): Under FEMA, the receiver of laundered money is to be made culpable, instead of sender/distributor.
Reason (R): FEMA differs from the earlier Exchange Regulation Act FERA with regard to penalties and punishment in case of violation of the act.

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