1. Prologue
2. IBPS Specialist LAW Officer 2012 (SPL-II)
3. Question 1 to 25
4. Question 26-50
5. Specialist Law officer 2013 Paper (SPL-II)
6. Question 1 to 25
7. Question 26-50
8. Appendix: Cutoffs
9. Appendix-eligibility (SPL-III)
10. Dates/Exam-Schedule/Time-table
11. Law Officer Job profile

Prologue

• as far as GK, English, and reasoning goes, the studyplan remains similar to PO/MT. (Important: Law officer and Rajyabhasha officer aspirant doesn’t have to face Maths section. Maths section only for IT, HR, Agri., Marketing, Finance and CA  specialist officers.)
• Regarding the professional knowledge (law) section (50MCQs), I not LLB. But question papers of last two exams are given below. You should get be able to some idea on what type of questions are actually asked, what the width and depth of syllabus, and prepare accordingly from your college books. (avoid jholachhap publications giving “readymade” guidebooks, they didn’t help in provident fund commissioner exam (APFC), they will not help in specialist officer.)
• If any of the maestro, senior player, good samaritan wants to share some wisdom on preparation of this “professional section (law)” please post comments below.

IBPS Specialist LAW Officer 2012 Paper(SPL-II)

Law officer candidate has to face five sections: Reasoning, English, Maths, (GK+Banking) and Professional knowledge. Following contains only professional knowledge MCQs.  (50 questions)

Question 1 to 25

1. 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:
   1. 10 days
   2. 15 days
   3. 30 days
   4. 60 days
   5. 75 days
2. “Escrow” is a term used to denote:
   1. negotiability of the instrument
   2. an instrument incomplete in respect of date
   3. an instrument without consideration
   4. conditional delivery of the instrument
   5. None of these
3. What is the maximum amount of fee payable for filing a Recovery case with the Debt Recovery Tribunal?
   1. Rs.1 lakh
   2. Rs.1,20,000.
   3. Rs.1,50,000.
   4. 12% of the debit amount.
   5. None of these.
4. Which of the following statements, is correct regarding securitization of Asset?
   1. Bank can take possession of Asset and sale itself or it can hand over to Re-construction Company.
   2. Securitised Company can act as secured creditor.
   3. Securitised Company gets all the Right of secured creditor.
   4. All of the above.
   5. None of these.
5. The unfair Trade Practice includes:
   1. Quality and Quantity
   2. Potency and Purity
   3. Standard and price of goods and services.
   4. All of the above.
   5. None of these.
6. Which of the following complaints can be lodged with the Banking Ombudsman regarding loans?
   1. Non-charging of interest as per RBI guidelines.
   2. Delay in disposal of loan applications beyond prescribed time limit of RBI.
   3. Not granting the loans as per guidelines.
   4. All of the above.
   5. None of these.
7. The difference between Sale and Bailment is:
   1. Ownership is transferred to Buyer in the sale.
   2. Buyer has no obligation to return the goods.
   3. In the contract of Bailment- both (1)and (2)are not applicable.
   4. both (1) and (2).
   5. None of these.
8. Which of the following is not the essential of a contract?
   1. Transfer of ownership.
   2. Immediate delivery of the goods.
   3. The contract must satisfy essentials of a valid contract.
   4. Goods must be a movable property.
   5. None of these.
9. A private company is which:
   1. Restricts the right to transfer its shares.
   2. Limits the number of members to 50.
   3. Restricts the subscription of shares or debentures from the public.
   4. All of the above
   5. None of these.
10. Which of the following are the duties of a Bailor?
    1. To disclose all the faults and defects in the goods Bailed.
    2. Bailor must compensate the loss to Bailee.
    3. Duty of the Bailor is to make aware the Bailee all the risk factors associated with the goods.
    4. All of the above.
    5. None of these.
11. The essentials of a valid contract are:
    1. There should be an offer.
    2. Offer must be accepted.
    3. The parties to the consent must have free consent.
    4. All of the above.
    5. None of these.
12. When a guaranteed loan is repaid by the guarantor the:
    1. guarantor steps in shoes of the bank
    2. securities in possession of creditors will be handed over to him
    3. guarantor is not entitled to the securities
    4. both (1) and (2)
    5. None of these
13. A minor is competent to endorse an instrument:
    1. Subject to approval of the guardian
    2. without incurring any liability
    3. with the consent of all parties
    4. the statement is not true
    5. None of these
14. Which of the following statement is correct regarding Bankers Book Evidence Act?
    1. No officer of a Bank can be compelled to produce any Bankers Books unless it is specially ordered by the court.
    2. The above position (1) applies only when Bank is not a party to the case.
    3. An investigating Police officer can compel a Bank officer to produce the Books without court order.
    4. All of the above
    5. None of these
15. Where is Appellate Tribunal is located?
    1. Thiruvanthpuram
    2. Mumbai
    3. Each State Head Quarter
    4. All of these
    5. None of these
16. What are the Rights available to a secured creditor?
    1. To sell the Assets.
    2. File application with DRT for recovery of full or remaining dues.
    3. To proceed against the guarantor.
    4. All of the above
    5. None of these
17. Which of the following Rights of a consumer are protected under consumer protection Act,1986?
    1. The Right to be protected against making of goods which are hazardous of life and property.
    2. The Right against unfair trade practices.
    3. The Right to be assured access to a variety of goods and services at competitive prices.
    4. All of the above
    5. None of these
18. The complaints which can be lodged with the Banking Ombudsman are:
    1. Delay in providing various services.
    2. Complaints regarding exporters.
    3. Delay in remittance to NRI.
    4. All of the above.
    5. None of these.
19. Which of the following loan accounts can be referred to Lok Adalat?
    1. All NPA accounts.
    2. Both suit filed and non-suit filed accounts.
    3. Where liability does not exceed Rs.20 lacs.
    4. All of the above.
    5. None of these.
20. Which of the following statements is correct?
    1. When neither the Bailor nor the Bailee is entitled to any remuneration is called gratitous Bailment.
    2. Where either the Bailee or the Bailor is entitled to remuneration is called non-gratitous Bailment.
    3. Motor car let out for hire is a contract of non-gratitous Bailment.
    4. All of the above.
    5. None of these.
21. The essential elements of sale are:
    1. There should be a minimum of two parties.
    2. The subject matter of a contract of sale must be goods.
    3. The consideration of sale must be in money.
    4. All of the above.
    5. None of these.
22. Which of the following is not an advantage of a company?
    1. In case of liquidation shareholders do not get priority in payment.
    2. Transfer of company’s shares provides liquidity.
    3. Members share the profits by the way of dividend.
    4. Company affords better borrowing facilities.
    5. None of these.
23. Who can be a partner of a firm?
    1. Any person who is competent to contract.
    2. Any adult individual who is of sound mind.
    3. HUF represented by “Karta”.
    4. All of the above.
    5. None of these.
24. The special category of clients includes:
    1. Politically exposed persons.
    2. Companies offering foreign exchange.
    3. Clients in high risk countries.
    4. All of the above.
    5. None of these.
25. Which of the following is correct regarding obtaining of information?
    1. A person seeking information has to give in writing.
    2. PIO has to provide information within 30 days.
    3. If information is relating to life or liberty of a person,it will be provided within 48 hours.
    4. All of the above.
    5. None of these.

Question 26-50

26. The word “verify” in relation to a digital signature signifies:
    1. The initial electronic record was affixed with the digital signature.
    2. It is retained in fact.
    3. Both (1) and (2).
    4. only (1)
    5. None of these.
27. If one of the joint guarantors pays the dues:
    1. he may claim the respective shares from others
    2. he cannot claim anything from others as the liability is joint and
    3. he has to bear the loss himself
    4. All of the above
    5. None of these
28. Bank XYZ Limited receives a letter of credit of EURO 20,000 in favour of M/s ABC Exports Pvt Ltd for exports to Germany. After verification of the genuineness of the credit.it is forwarded to the beneficiary through registered letter. Unfortunately,due to political strike, by the time the letter of credit is delivered,its validity period expires. The exporter threatens legal action against the bank:
    1. bank is liable as bank has not handed over the credit in time to the beneficiary.
    2. postal department is liable for the loss and exporter has to take up the matter with the postal department
    3. bank is not liable as it does not assume any liability for the consequences arising out of delay in transit due to actions beyond its control.
    4. bank could persuade the opening bank to extend the validity date so that it is not put to loss
    5. any of the above.
29. Your branch has received a garnishee order in the name of your customer having saving bank account, with following transactions. Which among these is not subject matter of the garnishee order:
    1. an advice ready for dispatch to another branch after debit to the account in payment of cheque
    2. an advice received for a cheque which was sent in collection from another branch but not credited to the account so far
    3. a cheque sent in clearing,the amount of which has been credited to the account
    4. an amount of Rs.4000 relating to his wife’s account credited by mistake to the account of the customer
    5. all of the above
30. If the ATM has not dispensed the cash but account has been debited, the dispute regarding such transactions is to be resolved by the banks within?
    1. one week
    2. 10 days
    3. 12 days
    4. 15 days
    5. None of these
31. A cheque is presented for payment through clearing house but due to certain reasons,it is returned unpaid.The returning memo is enclosed to comply with:
    1. Negotiable Instruments Act
    2. RBI Act
    3. Banking Regulations Act
    4. It is a paractice
    5. RBI clearing House rules.
32. A company has failed to file particulars of charge for a loan raised from bank and a period of 4 months have already lapsed:
    1. the change can be filed by the company any time by paying penalty
    2. the change can be filed by the company and bank together
    3. the charge can be filed with the permission of Company Law Board,by paying penalty
    4. None of these.
33. For Term loan the period of limitation is three years from:
    1. Date of documents
    2. Date of default
    3. Date of sanction
    4. Due date of each instalment
    5. Date of default of each instalment
34. In case the debt is acknowledged after the expiry of limitation period,the limitation period will be:
    1. Extended by another three years from this date
    2. Extended for another three years from date of expiry
    3. extended for 3 years
    4. Not be extended
    5. None of these
35. Z is reported to have died.Some amount has been deposited by one of the debtors of Z in the bank account of Z.
    1. bank cannot credit the amount
    2. bank can credit the amount
    3. bank can credit the amount with the permission of the nominee or legal heirs.
    4. bank can credit the amount with the permission of court only
    5. None of these
36. Charge created by a borrower in favour of a secured creditor on movable assets without possession,is known as_ as per provisions of _ Act.
    1. Lien,Indian Contract Act
    2. Assignment,SARFAESI Act
    3. Mortgage,Transfer of Property Act
    4. Hypothecation,SARFAESI Act.
    5. None of these.
37. Mr.Abhay Lal informs the bank that he signed a cheque as Abhay instead of Abhay Lal,which are his usual signatures.Bank has paid the cheque but the customer claims refund of the amount:
    1. customer cannot seek refund as bank has made the payment as per his mandate
    2. customer can seek refund as the signatures do not tally
    3. customer can seek refund as bank is negligent
    4. the issue can be decided by a court,being a dispute
    5. None of these.
38. Which of the following confers on the trustees,the power to obtain loan:
    1. Trust deed
    2. Trust deed writer
    3. Beneficiary
    4. Resolution from the trustees
    5. Commissioner of Charity
39. Under which of the following categories,a contract of insurance is categorized?
    1. contract of agency
    2. contract of guarantee
    3. contract of indemnity
    4. contract of guarantee and indemnity
    5. an actionable claim
40. A bank branch has received a mail transfer for credit to account of Mr.X who has expired.Which of the following would be the most appropriate option:
    1. the amount would be credited to the account if all particulars tally with the records
    2. the amount would be credited to the account if the legal heirs have no objection
    3. the amount would be credited to the account if survivors, nominees or legal heirs have authorised to do so
    4. the amount would not be credited to the account if survivirs,nominees or legal heirs have not given any authority
    5. 3 and 4 both
41. Which of the following statements is not true with regard to a cheque:
    1. Maximum validity period is 6 months as per provisions of NI Act
    2. cheque written in different handwritings, different inks in different scripts can be paid
    3. where bearer and order both appear on a cheque,the cheque is payable to the bearer
    4. payment of a cheque with forged endorsement is a payment in due course by the paying bank
    5. a non-negotiable ctossed cheque cannot be transferred/endorsed
42. Mr.X gave a power of a attorney to Y operations of X’s account on Jan 12,2011.Y signed three cheques of Rs.5000 each and dated the cheques as Jan 14,2011 Jan 06,2011 and Jan 31,2011.He however died on Jan 26,2011.The cheques are presented on Feb 12,2011 .Which of the following is not matched in this connection:
    1. cheque dated Jan 14,2011 shall be paid
    2. cheque dated Jan 06,2011 shall be paid
    3. cheque dated Jan 31,2011 shall be returned
    4. All of these
    5. None of these
43. Under the Ombudsman Scheme for Banks effective from Jan 01,2006,the Ombudsman functions as:
    1. advisor for bank and customer
    2. court for banks and customer
    3. lok adalat for banks and customers
    4. arbitrator between banks and customers
    5. None of these.
44. Which of the following crossing restricts further endorsements of a cheque and which one takes away the element of negotiation:
    1. general crossing and payee’s account crossing
    2. not-negotiable crossing and payee’s account crossing
    3. payee’s account crossing and not-negotiable crossing
    4. payee’s account crossing and special crossing
    5. not-negotiable crossing and special crossing
45. Banks maintain secrecy of accounts of their customers as a result of which of the following:
    1. as per provisions of NI Act
    2. as per provisions of Banking Regulation Act
    3. as per contractual obligation under implied contract
    4. as per prevailing practices among banks
    5. as per provisions of RBI Act.
46. Garnishi order has been received in the name of Mr.X who is associated with the following accounts. Which of these accounts shall be attached:
    1. Cash credit account of XYZ,a partnership firm, where limit is unavailed and X is a partner in the firm.
    2. An overdraft account in the name of “X”.
    3. An account of a Trust where he is a Trustee.
    4. An account styled as ownership of X
    5. None of the above
47. Which of the following would be a ‘holder for value’:
    1. X,getting a gift cheque from Y
    2. Z,getting a cheque from A for sale of goods to A
    3. National Bank, purchasing a cheque from its customer K,under instant credit facility
    4. National Bank,receiving a cheque from its customer for collection
    5. All of the above
48. What is the time period prescribed by RBI for preservation of records under Prevention of Money Laundering Act and what is the time period during which suspicious transaction report is to be sent within _ days on confirmation:
    1. 2 years,15 days
    2. 4 years,12 days
    3. 5 years,10 days
    4. 10 years,7 days
    5. 12 years,3 days
49. As per FEMA 1999,foreign exchange means foreign currenct and include (a) all deposits (b) credits and balances payable in foreign currency (c) any drafts,travellers’ cheques,LCs and Bill of Exchange, payable in foreign currency. Which of the following is correct out of the above:
    1. a and b only
    2. a and c only
    3. b and c only
    4. a,b,c all
    5. None of these
50. As per amendment to the Prevention of Money Laundering Act, effective from June 01,2009,which of the following is not required to furnish Suspicious Transaction Report to FDI India
    1. Banks
    2. Financial Institutions
    3. Authorised Persons
    4. None of the above
    5. All of these

Specialist Law officer 2013 Paper (SPL-II)

Question 1 to 25

1. A cheque may be drawn for a maximum period of
   1. three months
   2. six months
   3. one year
   4. forever
   5. None of these
2. Guarantee is defined
   1. as a contract
   2. to perform the promise or discharge the liability
   3. of a third person in care of his default
   4. All of the above
   5. None of the above
3. Which of the following committees also recommended the set up of Debt Recovery Tribunals?
   1. Committee on Financial sector reforms
   2. Committee on custom service
   3. Committee on RRBs
   4. All of the above
   5. None of the above
4. Partnership firm is
   1. the relation between persons
   2. who have agreed to share their of a business
   3. business may be carried on by all or any of them
   4. All of the above
   5. None of the above
5. As per explanation given in sub clause of 2 (b) of section 35 of Banking Regulation Act. inspection of branches of Indian Banks situated abroad is to be carried out by
   1. Comptroller and Auditor General
   2. Reserve Bank of India
   3. World Bank
   4. Exim Bank
   5. Dept. to Company Affairs
6. A fraud involving a fake demand draft has taken place in X branch of Canara Bank which has paid this DD, purportedly issued by Y branch. Z branch of Axis Bank had presented this DD in clearing. Which branch will report this fraud
   1. X
   2. Y
   3. Z
   4. All of these
   5. None of these
7. Borrower has raised an objection to a notice received from the Bank for taking possession of securities under SARFAESI Act.
   1. Bank must justify the possession within 15 days
   2. Bank should send another notice of 30 days
   3. Bank should approach DRT within 7 days
   4. All of the above
   5. None of the above
8. A cheque is presented for payment through clearing house but due to certain reasons, it is returned unpaid. The returning memo is enclosed to comply with
   1. Negotiable Instruments Act
   2. RBI Act
   3. Banking Regulations Act
   4. It is a paractice
   5. RBI clearing house rules
9. Evidence means
   1. all statements presented before a court by way witnesses
   2. it is in relation to a matter of fact under inquiry
   3. such statements are called oral evidence
   4. All of the above
   5. None of the above
10. Which of the following is not a duty of pawner?
    1. To compensate pawnee for extra ordinary expenses
    2. Not to sue pawnee for any default
    3. To meet his obligation on stipulated date
    4. To comply with the terms and conditions of contract
    5. None of the above
11. What period is available as limitation in case of mortgage?
    1. 3 years from date of mortgage
    2. 12 years from date of mortgage
    3. 12 years from the date when the mortgage money has become due
    4. 12 years from date of loan
    5. 12 years from date of loan or date or mortgage whichever lower
12. The maximum number of directors in public limited company can be
    1. 8
    2. 10
    3. 12
    4. 15
    5. No limit, but if the number goes beyond 12, Govt. Permission is required
13. For which among the following instruments, the amount of stamp duty can be different in different states?
    1. Promissory note
    2. Bill of exchange
    3. Money receipt
    4. Guarantee deed
    5. All of these
14. Clean note policy, has been framed by RBI under the authority vested in it by
    1. RBI Act Section 45
    2. RBI Act Section 35
    3. Banking Regulation Act Section 45
    4. Banking Regulation Act Section 35A
    5. Companies Act Section 125
15. The endorsement on a cheque is valid for a period of
    1. six months from the date of endorsment
    2. six months from the date of cheque
    3. six months from the date of delivery
    4. All of the above
    5. None of the above
16. Universal Bank decides to perfer an appeal against the decision of Debt Recovery Tribunal. What is the time period during which this appeal could be field DRAT ?
    1. Within 15 days of the order
    2. Within 30 days of the order passed by DRT
    3. Within 30 days of receipt of the order
    4. Within 15 days of the order passed by the President of DRT
    5. Within 45 days of the receipt of order by the bank
17. 217.The limitation available to the bank for execution of degree is
    1. 3 years from the date of receipt of copy of decree
    2. 3 years from date of decree
    3. 12 years from date of receipt of copy of decree
    4. 12 years from date of decree
    5. None of the above
18. Customer can make appeal against the award of Ombudsman to the Appellate Authority within
    1. 45 days of date of award
    2. 45 days of date of receipt of award
    3. 30 days of date of award
    4. 30 days of date of receipt of award
    5. None of the above
19. Under SARFAESI Act, borrower is required to be given a notice of days by the bank, for taking possession of the security
    1. 30 days from date of notice
    2. 60 days from date of notice
    3. 30 days from date of receipt of notice by the borrower
    4. 60 days from date of receipt of notice by the borrower
    5. None of the above
20. Under which provisions, the RBI has introduced the Banking Regulation Act, 1949?
    1. Section 33 of Banking Ombudsman Scheme
    2. RBI Act, 1934
    3. Consumer Protection Act, 1986
    4. All of the above
    5. None of the above
21. A cheque is payable on
    1. demand
    2. 24 hours after presentation
    3. happening of certain event
    4. a fixed future date
    5. None of the above
22. Public seeking information under section 6 (1) of the Right to Information Act (RIA) should submit the application accompanied by a fee of
    1. Rs.1
    2. 10
    3. 100
    4. No fees prescribed
    5. None of these
23. Which of the following type of charge is extended by bank while financing against LIC policy?
    1. Pledge
    2. Hypothecation
    3. Mortgage
    4. Assignment
    5. None of these
24. Any implied warranty may be varied by
    1. express agreement
    2. course of dealing between parties
    3. if usage is such as to bind parties to the contract
    4. Any of the above
    5. None of the above
25. A quasi contract is a contract that exists by
    1. order of a court
    2. agreement of the parties
    3. Either (1) or (2)
    4. (1) and (2)
    5. None of the above

Question 26-50

26. Can a minor become a partner?
    1. Yes (a minor become a partner)
    2. No (Reason: a minor can be admitted to the benefits of a partnership. But he cannot become a partner also documents will be signed by the guardian on minor’s behalf).
    3. (1) and (2)
    4. Either (1) or (2)
    5. None of the above
27. Limitation period for execution of a decree is
    1. 12 years from the date it was decreed
    2. 3 years from the date of the decree
    3. 6 years from the date of the decree
    4. 5 years from the date of the decree
    5. None of the above
28. Section 131 and NI Act provides statutory protection to a collecting banker if
    1. the cheque is crossed
    2. the cheque is collected for a customer
    3. the cheque is collected in good faith and without negligence
    4. All of the above
    5. None of the above
29. What is meant by document of title to goods?
    1. It entities and enable its rightful holder to deal with the goods represented by it as an owner
    2. It is a proof of ownership of goods
    3. It confers a right on the possessor to transfer the goods to another person
    4. All of the above
    5. None of the above
30. A surety has rights against
    1. the creditor
    2. the principal debtor
    3. the co-sureties
    4. All of these
    5. None of these
31. What is the time limit for disposing an appeal by Appellate Authority?
    1. Within 2 months
    2. Within 3 months
    3. Within 6 months
    4. No such limit
    5. All of the above
32. A Proclaimed person whose property has been attached can claim the property or the sale proceeds,on appearance
    1. within 6 months of attachment
    2. within 2 years of attachment
    3. within 3 years of attachment
    4. within 1 year of attachment
    5. None of the above
33. A boy over 11 years but below 12 years of a pow up knife and proceeding towards with a gesture saying that he would cut him into pieces actually stabs him to death.
    1. The boy will not be guilty, as a child under 12 years of age cannot be guilty of an offence
    2. The boy will be guilty because he had attained maturity of understanding to judge the nature and consequence of his conduct of mind and the act concurred in this case
    3. The boy will not be guilty of murder
    4. The boy will not be guilty of murder as he had not attained sufficient maturity of understanding to judge the nature and consequence of his conduct
    5. None of the above
34. On which date the Amendments to the IPC by the criminal law (Amendment) Act, 2005 came into force
    1. 16th April, 2006
    2. 11th January,2006
    3. 23rd January, 2006
    4. 21st June, 2006
    5. None of these
35. A contract with or by a minor is a
    1. valid contract
    2. void contract
    3. voidable contract
    4. voidable at the option of either party
    5. None of the above
36. A contract can be discharged
    1. by performance of the contract
    2. by frustration of the contract
    3. (1) and (2)
    4. Neither (1) nor (2)
    5. None of the above
37. ‘X’ and ‘Y’ agreed to marry each other on a certain date and before that ‘X’ goes mad. ‘Y’ cancer contract and sued for damager.
    1. No cause of action arises till the date of marriage.
    2. On account of X’s going mad, the contract frustrated and void. Y has no right to sue for damages.
    3. The contract itself is void
    4. Y is guilty of breach of contract
    5. None of the above
38. Liability of the surety is
    1. conditional on default
    2. independent of default
    3. can be conditional and can be independent
    4. Either (1) or (2)
    5. None of the above
39. ‘Bailee’ is a person
    1. who delivers the goods
    2. to whom the goods are delivered
    3. through whom the goods are delivered
    4. who carries the goods
    5. None of the above
40. An action for indemnity against a partner can be brought by
    1. the firm only
    2. an individual partner
    3. Either (1) or (2)
    4. Neither (1) nor (2)
    5. None of these
41. An act done by a partner on behalf on the firm beyond the implied authority
    1. can be ratified expressly
    2. can be ratified impliedly by conduct
    3. Either (1) or (2)
    4. cannot be ratified
    5. None of the above
42. The liability by holding out can be incurred by
    1. a minor
    2. a major
    3. Either (1) or (2)
    4. (1) and (2)
    5. None of these
43. Once a minor, who has been admitted for benefits of the partnership severs his connection with that firm the minor has right to sua
    1. for accounts and his share
    2. for dissolution of the firm
    3. (1) and (2)
    4. Neither (1) nor (2)
    5. None of the above
44. The status of a partner who has been expelled is that of
    1. an existing dormant partner
    2. an insolvent partner
    3. a retired partner
    4. Either (1) or (3)
    5. None of the above
45. The dissolution by notice as described under section 43 of the Indian partnership Act, 1932 is applicable where the partnership is
    1. at will
    2. for a fixed term
    3. for a specific adventure
    4. All of these
    5. None of these
46. The parties to the arbitration agreement shall appoint arbitrator within
    1. 30 days
    2. 60 days
    3. 40 days
    4. 90 days
    5. None of these
47. The mandate of an arbitrator shall terminate
    1. when he withdraws from his office for any reason
    2. when he become de jure or de facto unable to act without undue delay
    3. when the parties have agreed to terminate arbitrator’s authority
    4. All of the above
    5. None of the above
48. Which is incorrect statement?
    1. The arbitral tribunal is bound by code of civil procedure, 1908
    2. The arbitral tribunal is bound by Indian Evidence Act, 1872.
    3. (1) and (2)
    4. All of the above
    5. None of the above
49. Admissions
    1. must be in writing
    2. must be oral
    3. Either oral or in writing
    4. Only in writing and not oral
    5. None of these
50. Oral evidence under section 60 of Evidence Act may be
    1. direct only
    2. hearsay
    3. (1) and (2)
    4. Either (1) or (2)
    5. None of these

Appendix: Cutoffs

IBPS Specialist Cutoffs Law officer: (SPL-I-2012)

Total Weighted Score (Law officer)

IBPS Specialist Cutoffs Law officer: (SPL-II-2013)

Final allotment (first round)

Final allotment (second round)

NA: NO VACANCY / NO CANDIDATE AVAILABLE FOR ALLOTMENT.

Appendix-eligibility (SPL-III)

1. *in SPL-I, SPL-II (previous two exams) the minimum age was 21.
2. **in SPL-I, SPL-II (previous two exams)), they had upper age limit 40 years but for the SPL-III they’ve brought it down to 35 years.

Dates/Exam-Schedule/Time-table

Law Officer Job profile

strong>Mrunal comment: following part is copy pasted email from a friend of mine who serves in PNB.

Start of copy paste

Prep.

I got selected as Manager (Law) in PNB only after writing and getting selected in the IBPS Specialist Officers selection exam conducted in 2013.
For law officers selection, while the portions of reasoning, general knowledge and banking related knowledge are common with other specialist officers tests, only the legal knowledge related portion remains unique. However, you should note that the IBPS itself has not given any prescribed syllabus for the legal knowledge portion of the exam. Therefore, a candidate should be well acquainted with constitutional law, procedural law, contract law and banking related laws.

Interview

In the interview I attended, we were mostly asked about questions about law, and especially banking related aspects only. This is not the interview for the civil service exam that you may need to prepare thoroughly about burning topics of the day. But however remain updated with the latest developments in banking sector.

Job profile

About the job profile, a specialist officer, especially a law officer’s job is quite easy compared to that of a generalist probationary officer.

.vs Generalist PO officer

As a Law Officer, You will be posted only at Circle Offices / Zonal Offices / Head Office, and do not have the inconvenience of getting posted in some remote town or village. Also, compared to the job profile of an advocate, the job profile of a bank law officer is much easier. Stress is almost non-existent, unless you have a horrible boss. Usually there is more respect for a law officer in a bank, compared to other officers.

Nature of Work

The job responsibilities of a law officer depends on where he is posted. But usually they comprise of monitoring the bank’s legal cases, giving legal opinions on claim applications by legal heirs of deceased, undertaking recovery processes under SARFAESI Act, vetting of pleadings and written statements drafted by advocates and handling applications under the RTI Act.

Promotion

Regarding promotion prospects, when you are reasonably good at your work, you can get promoted from scale 1 to scale 2 in about 2-3 years, and from scale 2 to scale 3 in about 3-4 years. But beyond that, there is very little scope for promotion as a technical officer. You will have to either stagnate there as a scale 3 or scale 4 technical officer, or change from technical to generalist stream. There are people who have changed from specialist to generalist stream, and have gone on to become AGMs and DGMs. But when you have gained good knowledge of banking law and if you have built good network with banking officers, you can quit the job and start a roaring law practice in the banking field.

vs Civil Service, Judicial Service

There are candidates who are appearing for the banking specialist officers exam, while simultaneously trying for judicial officers’ posts, civil services, teaching and the like. I would say, a job in the judiciary, academic field or civil services is any day preferable to that of a banking law officer. But failing the above, the job of a banking law officer remains a good and decent choice because the salaries of a law officer are the same as that of any other banking officer—they depend on which scale he is working in.

Designations

I would like to add one more thing about the designations given to law officers: in SBI and some other banks, law officers recruited in scale1 are designated as Asstt. Manager (Legal), and law officers recruited in scale 2 are designated as Dy. Manager (Legal). However in PNB and some other banks, law officers recruited in scale 1 are designated as Dy. Manager (Legal) and law officers recruited in scale 2 are designated as Manager (Legal).

Ultimately, it is not the designation that counts, but  the scale in which you are working which decides your level in the office hierarchy.

–end of copy paste–
Again, If any of the maestro, senior player, good samaritan wants to share some wisdom on preparation of this “professional section (law)” please post comments below.
for more on IBPS papers, study material and information visit Mrunal.org/IBPS