IP Exam Daily Spark: Day 9
Objective Questions for Inspector Posts Departmental Exam
The Prevention of Money-Laundering Act, 2002
Objective Questions for Inspector Posts Departmental Exam
The Prevention of Money-Laundering Act, 2002
61. What is the power of the Director with respect to summons, production of documents, and evidence under Section 50 of the Act?
A) He has the same powers as a police officer. B) He has the same powers as a civil court. C) He has the same powers as a criminal court. D) He has the power to issue a search warrant.
62. The Adjudicating Authority can transfer a case of a complex nature to a Bench consisting of:
A) a single Member B) two Members C) three Members D) the Chairperson and two other Members
63. The tenure of the Chairperson and Members of the Adjudicating Authority is for a term of five years, but no one can hold the office after attaining the age of:
A) sixty-two years B) sixty-five years C) seventy years D) seventy-five years
64. What is the primary purpose of the 'Explanation' to Section 3 of the Act?
A) To define the term "proceeds of crime." B) To clarify that the process of money-laundering is a continuing activity. C) To specify the punishment for money-laundering. D) To list the scheduled offences.
65. Under Section 16, an officer not below the rank of Assistant Director can carry out a "power of survey". This power is granted to collect information for the purposes of which sections?
A) Sections 12 and 12A B) Sections 13 and 14 C) Sections 17 and 18 D) Sections 12 and 13
66. What is the legal effect of a rule made under the Act if both Houses of Parliament agree to make a modification in it?
A) The rule is annulled and becomes of no effect. B) The rule shall thereafter have effect only in such modified form. C) The rule is sent back to the Central Government for review. D) The rule remains valid as originally passed.
67. What is the time limit for the Central Government to remove difficulties in giving effect to the provisions of the Act?
A) One year from the commencement of the Act. B) Two years from the commencement of the Act. C) Three years from the commencement of the Act. D) There is no time limit.
68. The jurisdiction of a Special Court, while dealing with the offence under the Act, during investigation, inquiry or trial is dependent upon:
A) any orders passed in respect of the scheduled offence. B) the conclusion of the trial of the scheduled offence. C) the Special Court's discretion. D) the jurisdiction is not dependent on any orders passed in respect of the scheduled offence.
69. Which authority has the power to issue directions to the Director?
A) The Adjudicating Authority B) The Special Court C) The Central Government D) The Appellate Tribunal
70. If the trial under the Act cannot be conducted by reason of the death of the accused, the Special Court can, on an application by the Director, pass an order for confiscation of the property:
A) Only if the scheduled offence has been proved. B) If the property is involved in money-laundering. C) Only if the accused was declared a proclaimed offender. D) Only after a fresh investigation is initiated.
71. When a letter of request is received from a contracting State for investigation into an offence, to whom can the Central Government forward it for execution?
A) The Special Court or any authority under the Act. B) The Adjudicating Authority. C) The Director. D) The High Court.
72. What is the period for which the Director can withhold the release of property even after a Special Court order to release it has been made?
A) 30 days B) 60 days C) 90 days D) 120 days
73. The Director or any other officer not below the rank of Deputy Director must record the reasons for his belief in writing before making a provisional attachment order. What must he have reason to believe?
A) That a person is in possession of proceeds of crime. B) That such proceeds are likely to be concealed, transferred or dealt with to frustrate confiscation proceedings. C) Both A and B. D) That the person is about to leave the country.
74. The officers and employees of the Adjudicating Authority discharge their functions under the general superintendence of:
A) The Central Government B) The Director C) The Chairperson of the Adjudicating Authority D) The Special Court
75. The term "offence of money-laundering" is defined in which section of the Act?
A) Section 2 B) Section 3 C) Section 4 D) Section 5
76. As per Section 22, the Special Court, Appellate Tribunal, or Adjudicating Authority can presume that any record received from outside India and duly authenticated is in the handwriting of the person by whom it purports to have been written. This is an example of:
A) Burden of proof B) Statutory presumption C) Prima facie evidence D) Judicial notice
77. Under which section is a "person carrying on designated business or profession" defined?
A) Section 2(sa) B) Section 2(w) C) Section 2(ra) D) Section 2(x)
78. The "Explanation" to Section 3 clarifies that the process of money-laundering is a:
A) one-time activity B) specified activity C) continuing activity D) financial activity
79. The Chairperson or any other Member of the Adjudicating Authority may resign by giving notice in writing to whom?
A) The Central Government B) The Director C) The Chief Justice of India D) The President of India
80. If an appeal is filed with the Appellate Tribunal, what is the right of the appellant regarding assistance?
A) They can take assistance from an advocate. B) They can take assistance from a chartered accountant. C) They can take assistance from an authorized representative. D) They must represent themselves.
Answer Key – Day 9
61. B) He has the same powers as a civil court. (Section 50(1))
62. B) two Members (Section 6(7))
63. B) sixty-five years (Section 6(8))
64. B) To clarify that the process of money-laundering is a continuing activity. (Section 3 Explanation(ii))
65. D) Sections 12 and 13 (Section 16(1))
66. B) The rule shall thereafter have effect only in such modified form. (Section 74)
67. B) Two years from the commencement of the Act. (Section 75(1) proviso)
68. D) the jurisdiction is not dependent on any orders passed in respect of the scheduled offence. (Section 44(1) Explanation(i))
69. C) The Central Government (Section 52)
70. B) If the property is involved in money-laundering. (Section 8(7))
71. A) The Special Court or any authority under the Act. (Section 58)
72. C) 90 days (Section 20(6))
73. C) Both A and B. (Section 5(1))
74. C) The Chairperson of the Adjudicating Authority (Section 7(2))
75. B) Section 3 (Section 3)
76. B) Statutory presumption (Section 22)
77. A) Section 2(sa) (Section 2(sa))
78. C) continuing activity (Section 3 Explanation(ii))
79. A) The Central Government (Section 6(11))
80. C) They can take assistance from an authorized representative. (Section 39)
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