1) Which of the circumstances may be a reason for mandatory liquidation of a bank pursuant Financial

Institutions Act 2073?

In case capital fund of the bank is negative

In case the matured deposit or the deposit to be repaid immediately or other financial liability could not
be paid on time and is due

In case shareholders with significant ownership or officials of the bank frequently commit acts causing
obstruction against the rights and interests of the depositors for the development of financial system

All of the (1), (2) & (3) Ans

2) The net surplus of Sandar Cooperative Limited for fiscal year 2076/77 is Rs. 40 million What is the
maximum amount that can be appropriated to the Cooperative Promotion Fund pursuant to
Cooperatives Act 2074?

Rs. 7.5 million

Rs. 30 million

Rs. 0.15 million. 0.25% ho act anusar kunai ni mildaina

Rs. 25 million.

3) Imprisonment punishment up to one year and fine up to Rs 1 lakh shall be imposed to any person for
operation of a cooperative society with out registration Where shall be the lawsuits for such an offense
initiated and decided pursuant to the Cooperatives Act, 2074?

Registrar of Cooperatives
Concerned High Court.

Ministry of Cooperatives.

Condemned District Court Ans

4) Siddhartha Bank Limited approved a project (term loan) of Rs 50 million to Sulav Agro Industries. The
entire loan was to be disbursed in 4 equal installments of Rs. 12.5 million each Accordingly, disbursed
the first installment. Later on, the customer approached the bank after 6 months for disbursement of
the second installment. In the mean time, the bank refused to disburse the second installment showing
its tight liquidity position. The customers project was delayed due lo shortage of fund. Does the activity
of the bank deemed offense under the Banking Offense & Punishment Act 2064?

As the project of the customer was delayed It is deemed as offense. Ans

As the liquidity position of the bank is tight it is not an offense

The regulator shall determine whether Is an offense or not

The bank can seek excuse from the customer

5) Mr. Ram Gautam is retiring from Nepal Rastra Bank as a Deputy Governor after 2 months. Please
advice him

He Shall not work in any bank or financial institution until 3 years from the date of retirement from his
post

He shall not work in any bank or financial institution until 2 years from the date of retirement from his
post
He shall obtain prior approval of Nepal Rastra Bank for the sake of working in any bank after completion
of 3 years from the date of his retirement

Both (i) & (iii) Ans

6) Green Micro Finance Financial Institution Ltd, a 'D' class institution licensed by NRB. It has paid up
capital as prescribed by Nepal Rastra Bank for a financial institution of C class. It has maintained the
capital adequacy fund as directed by Nepal Rastra Bank since last five years, has earned profits since last
five consecutive years and has its average non-performing loan of last five years within the limit
prescribed by Nepal Rastra Bank It has met all the conditions as prescribed by Nepal Rastra Bank as well.
It wants to be converted in to licensed institution of 'C Class. Please advice.

It shall submit application to NRB for prior approval to convert into C' class.

It can submit application to NRB only if it has earned profits since last 7 consecutive years.

It can be converted into 'A class only if NRB gives prior approval,

It shall not be converted into C class, Ans

7) Every public company shall prepare a report on shares of company, details of directors, amount due
and payable by directors to company loans borrowed by company, details of management expenditure,
etc, and submit the same to the Office of Company Registrar in advance of at least 21 days before the
holding of the AGM

Such report has to be approved by the Board of Directors

Such report has to be approved by the Board of Directors and certified by the auditor of the company
Ans

Such report has to be approved by the management of the company

Such report has to be certified by the auditor of the company

8) The head office of Sun Life Insurance Company Ltd is in Japan. It also registered with the Insurance
board 2 years before to carry on insurance business in Nepal. The Insurance Board felt that the liability
of Sun Life Insurance Company Ltd exceeds its assets within Nepal. Accordingly the Board cancelled its
registration, Which is the correct answer with respect to payment of premium?

It shall refund the principal amount along with bonus as specified by the Board Ans

It shall refund the principal amount as specified by the Board on a proportional basis

It shall not be required to refund the premium.

It shall refund the premium as determined by the liquidator

9) During the previous fiscal year, Nepal Rastra Bank operated in loss of Rs. 1.5 billion. During the
current fiscal year, it earned net profit of Rs. 4 billion, out of which revaluation profit consists of Rs 0.6
billion. How is the revaluation profit of the current fiscal year allocated as per the provisions of Nepal
Rastra Bank Act 2058?

Revaluation profit of current fiscal year shall be used to set off the revaluation loss of previous fiscal
year.

Revaluation profit of current fiscal year shall have to be appropriated to revaluation reserve fund. Ans

Revaluation profit of current fiscal year shall have to be transferred In capital account

5 % of the revaluation profit shall be kept in monetary liability fund

10) Alexander Rolson, a German Citizen made investment in 20% share capital of Himalayan Resorts
Limited 3 years before. Due to some personal issues, he sold entire shares of the company to Mr. Shyam
Khadka a Nepali citizen What amount of his sale of investment can he repatriate in his country as per
the Foreign Investment & Technology Transfer Act, 2075?

The entire amount received from the sale of investment Ans

50% of the amount received from the sale of investment

He can not sale his investment till 5 years from the date of investment

5% of the amount received from the sale of investment

11) Green Carpets Limited is listed at Nepal Stock Exchange Limited. It couldn't appoint its auditor in
Annual General Meeting (AGM). However, the AGM delegated the power to appoint auditor to the
Board of Directors (BOD) based on which the BoD appointed the auditor is this appointment valid?

Yes Ans

No

The appointment may be ratified by the Office of Company Registrar

The appointment may be ratified by Nepal Stock Exchange Limited

12) A' Ltd holds 80% shares of 'B' Ltd. B' Ltd holds 70% shares of C Ltd.

A becomes holding company of C

A becomes holding company of B.

Both (1) & (2) Ans

Neither (1) nor (2)

13) Mr. Chinta Mani Siwakoti, Deputy Governor of Nepal Rastra Bank is retiring from his post after 4
months. He is confused whether he can be reappointed. Advice on the light of Nepal Rastra bank Act,
2058

Government of Nepal may reappoint him for one term

Government of Nepal may appoint him for any term. Ans

He cannot be reappointed

Government of Nepal may reappoint him for one term on the recommendation of the Governor

14) Shyam Tamang, a driver with Guru Travels left Dhangadhi at 6 A.M. in his bus carrying 45
Passengers. He reached Krishnaveer at 1 p.m. but was stranded there till 6 p.m. because of heavy
landslide. The road was cleared by the Nepalese Army and the bus reached Kathmandu at 10 p.m.
Calculate the overtime allowance that he is entitled to, assuming that he earns a daily salary of Rs 800

Rs. 412.5 Ans

Rs. 1200

Rs. 825

Rs. 1000

15) Mr. Ram Bahadur Pun is finance minister of Province-7. He went to one of the branches of
Siddhartha Bank Limited to open a bank account. Which of the following statements is correct? .
Being a finance minister, the bronchi shall open his bank account immediately

The branch shall not open his bank account.

The branch shall obtain approval from senior management official before opening his bank account.

The branch shall inform the matter to Government of Nepal.

16) Section 92 provides that a director shall no tater than 15 days after assuming the office of director
Disclose in writing to the company certain matters. Which of the following matters do not form part or
the disclosures?

If he/she or his/her close relative has direct involvement or any kind of personal interest in any kind of
sale and purchase or other kind of contract related with the transactions of the company,

If he she is a director of any other company.

If he/she has made any dealing in the shares or debentures of the company or of its holding or
subsidiary company.

If he/she is thinking to become Managing Director of the company.

17) Mr. Shree Adhikari, Managing Director of Nepal Soap Lid was paid a salary of Rs.150,000 per month
during the FY 2075 76. During that year, the Company recorded a net profit (after tax) of Rs. 75 crores.
He was paid Rs 22 50 lakhs as incentive in the that year Inland Revenue Department (IRD) completed the
company's tax assessment for FY 2076/77 by adding tax liability of Rs. 20 lakhs to what was declared on
self-assessment Examine the permissibility of the incentives as per the Companies Act, 2063

Rs. 21.9 lakhs.

Rs. 22.5 lakhs

Rs 2.5 lakhs

18 lakhs

18) The latest meeting of the council of ICAN was held in Shrawan 10. 2077 After a week it was
discovered that the meeting was also attended by two council members (Chartered Accountants) who
are disqualified o become member of ICAN. What is the legal implications of the decision made in that
meeting?

valid

Invalid

The decision made in that meeting shall be ratified by Auditor General

The decision made in that meeting shall be ratified by Disciplinary Committee.

19) AGM of Prabhu Agro Industries Limited could not appoint auditor. Hence, Office of Company
Registrar appointed ABC Associates, Chartered Accountant as auditor of the company on the request of
the board of directors. Who shall fix the remuneration of the a e auditor?

Office of Company Registrar

Next AGM of the company

Board of Directors

Company itself
20) Mr. Arjun wants to establish a beer industry in Kailali (Province-7). Accordingly he obtained
permission from the Board to establish the Industry. When he applied to the industry Registration Body
for the registration of the industry, the concemed body refused to register the industry. The appropriate
remedy for him is to:

Make an appeal to the Local Level within 30 days from the receipt of refusal notice.

Make an appeal to the Ministry of Industry of Province-7 within 30 days from the receipt of refusal
notice

Make an appeal to the Ministry of Industry within 30 days from the receipt of refusal notice

Make an appeal to the Office of Prime Minister within 30 days from the receipt of refusal notice.

21) Mr. Min Bahadar Thapa, Nepalese citizen qualified as a Chartered Accountant from the Institute of
Chartered Accountants of Bangladesh (CAB) in the year 2018. He returned to Nepal in January, 2020 He
is contemplating to obtain membership of ICAN As it possible? Please advise him under Nepal Chartered
Accountants Act, 1997

He may obtain membership of ICAN under section 26 of the Act.

He may obtain membership of ICAN under section 27 of the Act.

There is no provision of providing membership pursuant to the Act.

He may obtain membership of ICAN with the recommendation of Auditor General

22) The Office of Company Registrar cancelled the registration of ABC Ltd based on the reasonable
ground to believe that the company is not carrying on its business or the company is not in operation.
Can shareholders or creditors of the company file petition to the court for restoration of the company?

The company cannot be restored. So, application cannot be filed

Shareholders or creditors may file petition, setting out reasons to the court to have the company
restored, no later than 10 years after the date of publication of notice of cancellation of registration of
the company.

Shareholders or creditors may file petition, setting out reasons to the court to have the company
restored, no later than 5 years after the date of publication of notice of cancellation of registration of
the company.

Shareholders or creditors may file petition setting out reasons to the court to have the company
restored according to their desire.

23) Mount Makalu is a Garment Industry registered at Office of Company Registrar as a private limited
company 4 years before. It is facing human resource problems for the last 4 months and thinking of
hiring foreign citizens. Suggest it regarding the number of foreign citizens that it can hire according to
Labour laws of Nepal.

It may hire foreign citizens as much as it requires

Not exceeding 3 % of total labor requirement in the concerned enterprise.

Not exceeding 5% of total labor requirement in the concemed enterprise.

Not exceeding 10 % of total labor requirement in the concerned enterprise.

24) Ms. Lirima Mahat had worked in different offices of World Bank in European countries and has
earned four million US Dollar. Ms. Lirima is now retiring next month and planning to return Nepal. Can
she keep the foreign exchange in the foreign country even after returning Nepal? Give your answer as
per the provisions of Foreign Exchange (Regulation) Act, 2019.

She shall have to bring the foreign exchange immediately in Nepal.

No
She may keep such foreign exchange in the foreign country, by giving information to Nepal Rastra Bank,
except on the conditions provided in Section 6 of the Act.

She may keep such foreign exchange in the foreign country for 2 years

25) Mr Sher Bahadur Thapa, a Registered Auditor holding Certificate of Practice (COP) of Class passed
CAP I level examinations of ICAN in December, 2019. Accordingly he enrolled in CAP-III level. What shall
be the implication of his COP?

No effect on COP.

COP shall be renewed during the period of articleship

Cancelled.

Suspended during the period of articleship

26) There has been more than 3 months since the last meeting of ABC Limited was held 30% of the total
number of directors have given written application to the chairperson along with the subject matter to
be discussed in the meeting, for calling the meeting of the board of directors. However, there is no
response from the chairperson in this matter for more than 16 days. Suggest the appropriate measures

Such requisition making directors may file a petition to the Office of Company Registrar for calling
meeting of the board of directors

Such requisition making directors themselves may call the meeting of the board of directors.

There is no remedy available to such directors

Such requisition making directors may make complain in the AGM of the company
27) Mr. Ananda is one of the shareholders of ABC Pvt Ltd. The company has 8 shareholders. There was a
1916 FN FRea)Consensus agreement among shareholders of the company in January, 2020. Mr. Anarida
gifted 50% of his sharcholdings in the company to Mr. Barun in June, 2020. Determine which of the
statements is

Mt. Barun shall not be deemed to have consented to the consensus agreement and become party
theroot

Mr. Barun shall be deemed to have consented to the consensus agreement and become party thereof.

Mr Barun can either treat or not to have consented to the consensus agreement and become party
thereof.

Mr Barun shall be deemed to have consented to the consensus agreement and become party thereof if
Mr. Ananda desires.

28) 26% of the shares of ABC Ltd is subscribed by XYZ Ltd. There are 4 directors in ABC Ltd. XYZ Ltd has
appointed Mr. Ram Lal as a director of ABC Ltd. What shall be the tenure of Mr. Ram Lal as the director
of ABC Ltd?

As provided in articles of association of ABC Ltd

As specified in articles of association of ABC Ltd, which shall not exceed four years

As long as XYZ Ltd desires

Until the holding of the next annual general meeting of ABC Ltd.

29) The paid up capital and free reserve of POR Limited is Rs. 5 crores and 3 crores respectively. For a
long term investment project, if requires a loan of Rs. 8.5 crores. Which of the following authorities may
make such decision?
Board of Directors

Office of Company Registrar

Special resolution being adopted by the general meeting.

Ordinary resolution being adopted by the general meeting

30) XYZ Limited is in operation for more than 3 years. The activities of the company are in contravention
of the Companies Act 2063, memorandum of association and articles of association for the last 2 months
Which of the following persons may make application to Office of Company Registrar for inspection of
the company? 1319

Shareholders representing atleast 10 % of the paid up capital of the company,

Shareholders representing atleast one-fourth of the total number of shareholders.

Concerned creditors of the company.

All of (1). (2) & (3)

31) Which of the circumstances may be a reason for mandatory liquidation of a bank pursuant to Banks
& Financial Institutions Act, 2073?

In case capital fund of the bank is negative

In case the matured deposit or the deposit to be repaid immediately or other financial liability could not
be paid on time and is due
In case shareholders with significant ownership or officials of the bank frequently commit acts causing
obstruction against the rights and interests of the depositors for the development of financial system

All of the (1). (2) & (3)

Ans: All of the above

32) Whether Financial Intermediary shall be a company incorporated under Companies Act, 2063 or
not?

Yes

No

It should be a company, if Nepal Rastra Bank deems appropriate.

It may or may not be a company depending upon its requirements.

Ans: Yes

33) Labour Act, 2074 shall not be applicable in the following enterprises circumstances

In relation to Nepali Army, Nepal Police, Armed Police Force and National Investigation.

In relation to the civil service.

Working journalists of an enterprise governed by Working Journalist Act, 2051, unless employment
contract is specifically executed pursuant to this Act,

All of the (1). (2) & (3)

Ans: All of the above

34) Mr. Prem Lal Gupta an Indian citizen wants to make foreign investment in Nepal. He is confused
regarding the currency of making investment in Nepal. Please advice
He can make investment in Nepalese currency only

He can make investment in Indian currency only

He can make investment either in Indian currency or any other convertible foreign currency

He can make investment in convertible foreign currency only

Ans: Khaii

35) Industrial Enterprises Act, 2076 provides additional facilities to women entrepreneurs so as
encourage women in the Industrialization of the country. Ascertain the correct facilities provided
women entrepreneurs

45 % exemption in existing industry registration fees (35% cha)

20% rebate on income taxes. (yo chaina)

20% exemption in existing rate of registration of Industrial property used by the industries.

All of the (1), (2) & (3)

Ans: Option nai wrong

36) Which of the following statement is correct with respect to foreign investment approving body?

Department of Industries can approve foreign investment up to Rs. 7 billion

Foreign investment exceeding Rs. 6 billion shall be approved by investment Board

Foreign investment exceeding Rs 10 billion shall be approved by Government of Nepal, Council of

Ministers

None of the (i) (ii) & (iii)

Ans: None of the above ( google ma 50M bhanera bheteko ho)

37) If a securities business person fails to submit the accounts and statements to the Securities Board of
Nepal within the time prescribed in the Act the Board may fine such securities business person

With a sum of Rs. 5,000 to Rs. 25,000

With a sum of Rs. 25,000 to Rs. 50,000

With a sum of Rs. 50,000 to Rs. 75,000.

None of (1). (2) & (3)

Ans: 1

38) Which of the following is not a ground for cancellation of registration of an insurer by the Insurance
Board?

If the Insurance Business is not started within six months from the date of obtaining the certificate

if the Insurer could not fulfill the liability pursuant to the decision within three months from the date of
final decision of the court in the case filed under the Insurance Policy issued within Nepal.

if the Insurer does not submit report of Actuary pursuant to Section 26.

If the Insurer does not open its office inside Nepal

Ans: C

39) The punishment imposed to a person involved in false trading pursuant to the Securities Act, 2063 is

Fine of Rs 150,000 to Rs. 200,000 or with imprisonment for a term not exceeding 1 year or with both
punishments, and where anyone has suffered any loss or damage from such an act, such loss or damage
has also to be recovered
Fine of Rs. 50,000 to Rs 100,000 or with imprisonment for a term not exceeding 1 year or with both
punishments, and where anyone has suffered any loss or damage from such an act, such loss or damage
has also to be recovered

Fine of Rs. 150 000 to Rs. 250,000 or with imprisonment for a term not exceeding 1 year or with both
punishments and where anyone has suffered any loss or damage from such an act, such loss or damage
has also to be recovered.

None of the (1) (2) & 3)

Ans: A

40) Which of the following statement.is correct with respect to the number of arbitrators pursuant to
the Arbitration Act, 2055?

The number of arbitrators shall not be specified in the agreement

In case the agreement does not specify the number of arbitrators, there shall ordinarily be 2 arbitrators

In case the agreement does not specify the number of arbitrators, there shall ordinarily be 3 arbitrators

There shall be 4 to 5 arbitrators

Ans: C

41)The President of the second tenure of the eighth council of ICAN is confused in the formation
standing committees of the Council. Please advice.

In forming standing committee, it can be so formed that the members of one committee included in
another committee Can also be

In forming standing committee, it can be so formed as the president things to do so.

In forming standing committee, it shall be so formed that all the council members are included in the
committees
In forming standing committee, it shall not be so formed that the members of one committee, except
the President and the Vice-President, are also included in another committee

Ans: D

42) Which of the following is not a requisite characteristics of sick industries

Industry is being operated for a minimum period of 5 years after commencement of its commercial
production.

Production level is 40 % or less than 40 % of the total installed production capacity in the last 3
consecutive years

Production level has decreased owing to the circumstances beyond control without any default or
weakness on the part of the management

Operating in loss for last 3 consecutive years

Ans: B (30% or less)

43) Which of the following statements is correct with respect to a holding company and subsidiary
company under the Companies Act, 2063?

A subsidiary company may purchase shares of its holding company only

A subsidiary company may purchase debentures of its holding company only

A subsidiary company may purchase shares or debentures of its holding company.

A subsidiary company shall not purchase shares or debentures of its holding company.

Ans: D

44) Which of the following activities is allowed to be undertaken by international financial entities in
Nepal?
To purchase any kind of immovable property within Nepal.

To carry out any type of international financial transaction with any resident person of Nepal. To
purchase shares or debentures of any company incorporated in the Nepal under the existing laws.

None of the (i), (I) & (i).

Ans: None of the above

45) Which of the followings is a requisite for a financial entity to obtain a license to carry out
international financial transactions in Nepal pursuant to International Financial Transactions Act, 2054?

A Financial entity should have been registered duly in any country outside Nepal

It should have engaged in international financial transactions at least for a period of 3 years

Neither (1) or (2)

Both of (1) & (2)

Ans: Both 1 and 2

46) In a Public Entity, who shall be responsible for carrying out or causing to be carried out all activities
relating to procurement to be made by fulfilling the procedures referred to in this Act.

Company secretary of the concerned Public Entity

Board of Directors of the concerned Public Entity

Chairperson of the Board of Directors of the concerned Public Entity

Chief of the concerned Public Entity

Ans: D

47) The source of foreign Investment of foreign investor shall be of

Income from legitimate source

income from legitimate or illicit source,

Income from foreign source only

Income from business only

Ans:

48) The Insurance Board may audit or re-audit or cause to be audited or re-audited the insurance
business of Insurer in the following circumstances.

If complaint is filed with the Board alleging that the accounts and records of the insurance business
carried on by the insurer suffer from irregularity,

If audit report has a reasonable ground to contain an irregularity committed in the insurance business

If the Insurer fails to submit the audit report to the Board within the period of time as referred to in
Section 25

All of the (1), (2) & (3)

Ans: All of the above

49) Which of the following circumstances is not a ground for not to renew the certificate an insurance
company by the Insurance Board? 20 or registration

If the balance sheet has not submitted within the prescribed time.

If the insurance company has not opened its branch offices throughout Nepal.
If the report of Actuary has not submitted within the prescribed time

If the service charge has not paid by the insurance company to the Board

Ans: B

50) Mr. Asgar Ali, a Pakistani Citizen passed CAP II examinations of ICAN in December, 2019. He is
contemplating of carrying accounting profession in Nepal.

There is no legal provision of performing accounting profession by foreign nationals

He can carry accounting profession by registering a sole proprietorship accounting firm in his name.

He can perform accounting profession in Nepal only after registering a firm in partnership with a citizen
of Nepal.

He can perform accounting profession in Nepal only after registering a firm in partnership with other
foreign citizens.

Ans: A

51) Which of the following legislations fall under the scope of labor audit?

Social security laws

Bonus laws

Labor laws

All of the (1), (2). (3) & (4)

52) Which of the following statements is wrong with regards to the meeting of the council pursuant to
the Nepal Chartered Accountants Act, 2053?

The Executive Director shall convene the meeting of the Council on such date and at such time and place
as may be fixed by the council

The presence of 51 % council members of the total number of council members shall be deemed to
constitute a quorum for a meeting of the Council
The decisions of the Council shall be authenticated by the chairperson of the meeting

All of (1). (2) & (3)

53) A Public Entity shall prepare a master procurement plan

Its annual procurement exceeds Rs. 10 crore

Its annual procurement exceeds Rs. 1 crore

Its annual procurement exceeds Rs. 5 crore

Its annual procurement exceeds Rs. 2 crore

54) Which of the following statements is correct with respect to venue of general meeting of a private
company?

The general meeting of private company shall be held inside Nepal only

A private company may hold general meeting within and outside Nepal wherever it desires

The general meeting of a private company may be held in any place within and outside Nepal except as
otherwise provided in the articles of association of the company

The general meeting of a private company shall be held in such place where the chairperson of BOD of
the company thinks appropriate.

55) The quorum of adjourned general meeting of cooperative society is

Presence of at least 51% of total members of the cooperative society

Presence of at least 51% of total members of the co operative society and majority of Board of Directors

Presence of at least one-third of total members of the cooperative society and majority of Board of
Directors

Presence of at least one-third of total members of the cooperative society

56) Which of the following circumstance is required for voluntary liquidation of a public company?

If the company is able to pay its debts or other liabilities in full

If there exists no situation where an application for the review of insolvency of the company is pending
under the prevailing law on insolvency or where the company would be in any manner subject to an
insolvency proceeding under the prevailing law on insolvency.

It the directors of the company after due enquiry have made a declaration in writing that the company is
able to pay its debts and other liabilities in full and that the debts and liabilities to be paid on behalf of
such company can be paid up or can be fully settled in any other process within one year from the date
of the adoption of the resolution to liquidate the company,

All of (1). (2) & (3)

57) The Auditor General shall be appointed by

President of Nepal on the recommendation of the Constitutional Council.

Prime Minister of Nepal on the recommendation of the Constitutional Council

President of Nepal on the recommendation of the President of ICAN

President of Nepal on the recommendation of the Office of Auditor General

58) Which of the following circumstances is not a ground for revocation of license of securities business
person by the Securities Board of Nepal?

If one becomes insolvent being unable to repay credit to creditors.

Of the securities business person who has removed an agent appointed by it does not appoint another
agent in lieu of such an agent,

It one becomes insolvent being unable to repay credit to creditors.

None of the (1) (2) & (3).

59) Money laundering is the process by which illegal funds and assets are converted into legitimate
funds and assets. The typical process involved in money Laundering are:

Placement, layering & integration

Layering, placement and integration

Integration placement & layering

Placement. Integration & layering

60) Mr. Arjun Shrestha established a medium scale industry in Bhaktapur without registration. What is
punishment to such industry by the Ministry?

To close down the industry.

To register the industry

To close down the industry immediately and impose fine of Rs. 50.000.

To register the industry with extra registration charges.

61) Nepal Rastra Bank Act, 2058 provides that a person whoever charges or gives interest against the
policy determined by Nepal Rastra Bank shall be deemed to have committed offense. The fine levied to
such person is

2 times of the property or imprisonment up to 7 years, or both

2 times of the property or imprisonment up to 5 years, or both

3 times of the property or imprisonment up to 7 years, or both

3 times of the property or imprisonment up to 5 years, or both

62) Where and to whom the Foreign Exchange (Regulation) Act, 2019 is applicable?

Apply throughout Nepal.

Apply throughout Nepal and to all citizens of Nepal who reside in India.

Apply throughout Nepal and to all citizens of Nepal who reside in SAARC,

Apply throughout Nepal and to all citizens of Nepal who reside outside Nepal.

63) Which of the following persons may apply to the court for insolvency proceedings of the company?

At least ten percent creditor or creditors of the concerned company

Shareholder or shareholders subscribing at least five percent shares of the proposed company

Regulatory body of the concerned company

All of the (1), (2) & (3)

64) The source of funds involved in the offense of terrorist financing is

Legal

Illegal

Both legal & illegal

Only corruption

65) Sunrise Bank Limited appointed ABC Engineering as its authorised valuator for valuation of pledged
properties for the purpose of lending loans. fn one of the valuations, he made excessive valuation due to
offering of some gifts from the loan customer of the bank. State the punishment applicable to ABC
Engineering pursuant to the Banking Offense & Punishment Act, 2064

Recover the claim amount, fine as per claim amount and imprisonment upto 2 years

Recover the claim amount, double fine as per claim amount and imprisonment upto 3 years.

Recover the claim amount, fine as per claim amount and imprisonment upto 4 years.

Recover the claim amount fine as per claim amount and imprisonment upto 5 years

66) Which of the following activity is deemed as offense pursuant to Banks & Financial Institutions Act,
20732

Disbursing credits or other financing against this Act.

Carrying out foreign currency exchange related business without license

Both (1) & (2)

Neither (1) nor (2)

67) Cooperative society shall frame byelaws and internal procedure for conducting its business subject
to the Cooperative Act, Rules, Directives, Standards and Procedures framed under this Act. The byelaws
and internal procedures may be amended

By the majority of total number of members attended at the General Meeting of the cooperative

society.

By two-third of total number of members attended at General Meeting of the cooperative society
By passing special resolution at the General Meeting of the cooperative society,

By the direct approval from Registrar

68) Which of the following activities requires a public company to provide information to the Office of
Company Registrar?

If the purchase of any property results in an increase in the value of its property or the value of
consolidated property mentioned in the latest audited annual financial statement by more than 15 %;

If the income to be earned from the property sold or intended to be sold exceeds by more than 15% of
the consolidated income before making payment for tax as mentioned in the latest audited books of
account of the company

Both (1) & (2)

Neither (1) nor (2)

69) Which of the following is a symptom of problematic banks as prescribed in NRB Act, 2058?

In case it is found that the license has been obtained on the basis of submitting false documents.

In case of undue delay in the process of voluntary liquidation where such proceeding has been initiated

Both (1) & 2)

Neither (1) nor (2)