IBPS Specialist Officer SO previous Year Question papers are the main source for the exam preparation. IBPS Competitive exam has to be studied with best of study material so as to know what kind of questions will come in the exam. It is important to prepare for worst because the best will follow your path for sure. IBPS SO Law officer previous papers will tell you the law questions of different laws in different fields. The questions given below have been part of IBPS exam once and the candidates can make a state of mind as per the level of questions.
Question1. On which banking system the present development of banking is dependent?
Question2. According to current case of Supreme Court, which conditions should follow by seller that can bind the bank to follow his demand?
- Bank of Guarantee or Letter of Credit
- Document guarantee
- Promissory note
Question3. What is called to an instrument, containing unconditional undertaking signed by the maker, to pay a certain sum of money only to certain person or bearer of the instrument?
- Promissory note
- Inland instrument
- Foreign instrument
Question4. Which of the following statements is correct? The Secretary General of the United Nations
- is appointed by the General Assembly upon the recommendation of the Security Council for a five-year, renewable term
- is appointed by the Security Council upon the recommendation of the General Assembly for a- five year, renewable term
- is appointed by the General Assembly upon the recommendation of the Security Council for a four-year, renewable term
- is appointed by the Security Council upon the recommendation of the General Assembly for a four-year, renewable term
Question5. A bank exercising a right of setoff must fulfill which of the following conditions:
- The account from which the firm transfers funds must be held by the customer owing the firm money;
- The account from which the firm transfers the money and the account, from which the money would otherwise have come, must be held with the same firm;
- Both account must be held in the same capacity by the customer; and
- The debt must be due and payable.
- All of the above
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