dra mock test - Quiz Questions (Page 1 of 2)
This quiz contains 20 questions.
Question 1: What is the primary role of a Debt Recovery Agent?
- To recover debts (Correct Answer)
- To provide loans
- To sell properties
- To prepare financial reports
Question 2: Which act governs the debt recovery processes in India?
- RDB Act 1993 (Correct Answer)
- Income Tax Act 1961
- Companies Act 2013
- Consumer Protection Act 2019
Question 3: Who regulates the recovery agents in India?
- Reserve Bank of India (Correct Answer)
- Stock Exchange Board of India
- Ministry of Finance
- Ministry of Corporate Affairs
Question 4: What is the full form of DRA?
- Debt Recovery Agent (Correct Answer)
- Debt Reformation Agency
- Direct Recovery Act
- Default Recovery Association
Question 5: Which document is essential for legal debt recovery?
- Notice of Demand (Correct Answer)
- Invoice
- Balance Sheet
- Bank Statement
Question 6: Which entity appoints debt recovery agents in India?
- Banks (Correct Answer)
- Insurance Companies
- Tax Authorities
- Non-profit Organizations
Question 7: What should a debt recovery agent avoid during work?
- Harassing customers (Correct Answer)
- Negotiating terms
- Meeting clients
- Managing paperwork
Question 8: What is a common method of debt recovery?
- Sending legal notices (Correct Answer)
- Phone calls
- Advertisements
- Social media
Question 9: When can banks legally recover a loan?
- After default (Correct Answer)
- Before due date
- While processing loan
- When interest is high
Question 10: Which bank is considered India's central bank?
- Reserve Bank of India (Correct Answer)
- State Bank of India
- Punjab National Bank
- HDFC Bank
This DRA mock test is made for people getting ready for the Debt Recovery Agent certification in India. It covers key topics like debt recovery management, banking rules, and the rules set for financial institutions. Try our test to check your knowledge and build confidence before your exam. This quiz is made easy to understand and practice with, so give it a shot!
