Compliance Test

1.

1 point

Light charges an effective annual interest of ______ on loans advanced to its borrowers as on date. (Fill in the blank)

a) 25.95%

c) 25%

b) 25.96%

d) 25.93%

2.

1 point

Light undertakes ____________ method of recovery of loan from its borrowers. (Fill in the blank)

a) Coercive method of recovery

b) Non Coercive method of recovery

c) Both of the above

d) None of the above

3.

1 point

Our company promotes healthy environment of working and strictly condemns any kind of sexual harassment under Sexual Harassment Policy. This is applicable to -

d) None of the above

c) Both male and female staff

a) Female Staff

b) Male Staff

4.

1 point

The interest rate charged from borrowers by Light can be found in the

a) NBFC Guidelines

b) RBI Guidelines

c) RBI-MFI Guidelines

d) None of the above

5.

1 point

Maximum Loan size in first cycle is Rs. _______ and maximum loan size in subsequent cycles is Rs. ___________ (Fill in the blanks)

a) 60,000 and 1,00,000

a) 60,000 and 1,00,000 b) 1,00,000 and 1,60,000

c) 1,00,000 and 1,50,000

d) None of the above

6.

1 point

Loan is repayable on _______________ installments at the choice of the borrower. (Fill in the blank)

a) Weekly

b) Fortnightly

c) Monthly

d) All of the above

7.

1 point

Light is a registered _____________ Company. (Fill in the blank)

c) NBFC-NDSI

b) NBFC-MFI

d) Banking

a) NBFC

8.

1 point

Training is provided to our clients at __________ to make borrowers fully aware of the procedure and system related to Light loan products. (Fill in the blank)

a) No cost

b) 1% of loan amount

c) Rs. 100/-

d) None of the above

9.

1 point

Pre- payment and delayed payment penalty is charged from the borrower.

True

False

10.

1 point

The revised rates are displayed on the website and in the offices of Light Microfinance within ____ days of notification of such rate change. (Fill in the blank)

b) 07

c) 15

d) 02

a) 10

11.

1 point

What is the Minimum CAR to be maintained by an NBFC- MFI?

d) 25.96%

c) 18%

b) 15%

a) 20%

12.

1 point

Using the information given below, calculate the Rate of Interest which Light should charge from its borrowers.

Margin- 12%, Cost of Funds- 14%, Base rate by RBI- 9%.

a) 26%

c) 24.75%

d) 23%

b) 24.25%

13.

1 point

Which of the following needs to be displayed at HO & Branches of Light?

a) Current rate of interest

b) Fair Practice Code

c) RBI Registration Certificate

d) All of the above

14.

1 point

Who are the members of Sexual Harassment Committee of Light Microfinance?

a) Pallavi Dutta, Anurag Geete, Prem Shankar

c) Vishal Shah, Pallavi Dutta, Anurag Geete

b) Vishal Shah, Anurag Geete, Prem Shankar

d) Anurag Geete, Pallavi Dutta, Dhiraj Pariekh

15.

1 point

Who is the Grievance Redressal Officer of Light Microfinance??

a) Anurag Geete

c) Prabhakar Singh

b) Vishal Shah

d) Prashant Banerjee

16.

1 point

What is the full form FPC?

c) Fair Practice Communication

a) Fair Protection Code

b) Fair Process Code

d) Fair Practice Code

17.

1 point

What is the full form of CAR?

a) Company’s Asset Ratio

b) Capital Adjustment Ratio

c) Capital Adequacy Ratio

d) None of the above

18.

1 point

Under the Whistle Blower Policy, a Whistle Blower can report through which channels?

a) In the form of Letter

b) In the form of E-Mail

c) In the form of telephonic complaint

d) All of the above

19.

1 point

An NBFC- MFI is defined as a non-deposit taking NBFC if

a) Minimum Net Owned Fund of Rs. 5.00 Cr and not less than 85% of its net assets as Qualifying Assets

b) Minimum Net Owned Fund of Rs. 5.00 Cr or not less than 85% of its net assets as Qualifying Assets

c) Loans given to only female borrowers

d) None of the above.

20.

1 point

Pricing Components of the loan include

a) Interest Charge

b) Processing Fees

c) Insurance Premium

d) All of the above

21.

1 point

Choose the incorrect option.

a) Client household income should not exceed Rs. 1,00,000 if residing in rural area and Rs. 1,60,000 if residing in urban area.

d) No penal interest or late payment fees is charged for late repayment.

c) Security Deposit / Margin is collected from borrower.

b) Client cannot be a member of more than one SHG / JLG

22.

1 point

Light ensures that Loan approval will based on:

a) Caste, religion, gender

b) Client authenticity

c) Repayment capacity

d) Both ‘b’ and ‘c’

23.

1 point

From how many NBFC-MFIs can a borrower take a loan?

b) 2

a) 1

d) 4

c) 3

24.

1 point

Who is the Whistleblower Policy applicable to?

a) Employees only

d) Audit Committee

b) Directors only

c) Employees, Directors, Business Associates and Partners

25.

1 point

Aggregate amount of loans for income generation is _________________ percentage of the total loans given by MFIs. (Fill in the blank)

d) Not less than 85

a) Not less than 50

b) Less than 50

c) Less than 60