JAIIB LRAB Recollected Questions 2026: 60+ Memory-Based MCQs, Topics & Smart

JAIIB LRAB recollected questions are the single fastest way to understand how the Legal &. Regulatory Aspects of Banking (LRAB) paper is actually set. If you are preparing for the JAIIB exam in 2026.

This is the page you bookmark. We have taken the memory-based questions reported by past candidates. Cleaned them up.

Grouped them by topic. And added a smart revision plan so you walk into the exam hall knowing exactly what to expect.

LRAB is the paper most JAIIB aspirants fear. Because it is heavy on definitions, Acts, sections, and case-based reasoning. The good news?

The pattern repeats. Below you will find 60+ recollected LRAB questions. A high-weightage topic table.

Common traps. And a focused study strategy built for working bankers who are short on time.

What Are JAIIB LRAB Recollected Questions?

Recollected questions (also called memory-based or remembered questions) are questions that previous test-takers remembered after sitting the LRAB exam. Shared with the aspirant community. They are not a leaked paper. Are not guaranteed to repeat word for word.

Instead, think of them as a blueprint of the examiner's mind. They tell you which Acts get tested. How deep the questions go, and which topics carry the most weight. Used correctly. Recollected questions turn a vast, intimidating syllabus into a focused, finishable checklist.

Why Recollected Questions Matter for the LRAB Paper

• Pattern recognition: You learn whether a topic is asked as a one-line definition or a multi-step case study.
• Smart prioritisation: Limited revision time goes to the chapters that actually appear.
• Confidence: Familiar question framing reduces exam-day panic and silly mistakes.
• Self-testing: Each question doubles as an active-recall prompt &mdash. Far more effective than re-reading notes.

JAIIB LRAB Exam: Quick Facts

Before the questions. Here is a fast snapshot of the LRAB paper so the recollected list makes sense in context. Treat every figure as indicative. Confirm on the latest official IIBF notification. Since IIBF revises patterns periodically.

JAIIB LRAB Recollected Questions (Topic-Wise)

Here are the most frequently recalled LRAB memory-based questions. Organised by topic so you can revise the underlying concept instead of just the question. Try to answer each one before checking your notes &mdash. That struggle is where real learning happens.

1. Banking Regulation Act & Bank Governance

• What is the tenure of a director of a banking company?
• What does preservation of records mean under the banking law?
• What is the maximum number of shares that can be acquired in a banking company?
• Who has the power to inspect banks?
• One director in the Board for Financial Supervision (BFS) is nominated by whom?
• What are the powers the Central Government holds with respect to banking?
• What is the term duration of a director of a bank?

2. Negotiable Instruments Act, 1881 (Cheques & Bankers)

• Aman issued a cheque of Rs. 300 leaving spaces in both words and figures. An employee altered it to Rs. 3,300 and it was cleared with a slightly different signature. Who is responsible?
• What are the responsibilities of a collecting banker?
• A cheque is drawn on another bank &mdash. What is the collecting bank supposed to do?
• What is cheque crossing and what are its types?
• What is the liability of the paying banker?
• Firm "Aman, Baman & Chaman" operates either/survivor up to Rs. 5,000. Aman draws a cheque to Baman for Rs. 4,553, who transfers it to his own account. Who is liable and what is the bank's role?

3. Indemnity, Guarantee & Letters of Credit

• How many parties are involved in a contract of indemnity?
• What are the rights of an indemnity holder?
• What are the types of bank guarantees?
• What is the liability of a bank in honouring a bank guarantee?
• What does a negotiating bank do?
• What is recourse and without-recourse LC?
• What is a Deferred Payment Guarantee (DPG)?
• Ankur lost his FD. Asked the bank to reissue a duplicate FDR. What is Ankur's role here? (indemnity context)
• Ankush guarantees her daughter's OD will be repaid. What type of financing/contract is this?
• What is the liability of a surety?

4. Charges, Mortgages, Pledge & Hypothecation

• Case study on simple mortgage vs. equitable mortgage and the ratio of share on default.
• What are the types of mortgage. With examples like gold loan, car loan, home loan?
• What does a fixed charge mean?
• What are floating charges vs. fixed charges?
• Where is charge registration done?
• What do you mean by hypothecation?
• What do you mean by pledge?
• What do you mean by mortgage?
• What do you mean by a charge?
• What is a reverse mortgage?

5. SARFAESI Act, 2002 & Recovery

• SARFAESI questions on validity, security interest, receipt of security.
• Cancellation of registration of a Securitisation/Reconstruction Company (SRC).
• Powers and applicability of SARFAESI and enforcement of security interest.
• What is a security receipt?
• What is the limitation period for default in the case of term loans?

6. DRT & DRAT

• Who is the higher authority over DRAT?
• Who has the power to modify a DRT?
• Which cases can only be handled by a DRT?
• If the property is located in a different place from where the loan was taken. Which DRT must be approached?
• Who is the regulatory/appellate authority over DRT?

7. Companies, Partnership & Sale of Goods

• In which section is the term "partner" defined?
• Can a minor share the profit of a firm. And is the minor liable on dissolution?
• Which type of company is restricted from transferring its shares?
• In. Document are the main and other objectives of a company mentioned? (MOA)
• What are the effects of a non-registered firm/company?
• What do you mean by bailment of goods?
• What are the rights of an unpaid seller?
• What is a contract of sale?

8. Consumer Protection, RTI, FEMA & Banking Ombudsman

• What is the Banking Ombudsman &mdash. Matters and authority where complaints can be made?
• If not satisfied with the Banking Ombudsman's decision, who should be approached?
• What are consumer complaints under the consumer protection framework?
• Who is the head of the State Consumer Protection Council?
• Who is the Minister in charge of consumer affairs?
• What are the areas where RTI is applicable. And the minimum RTI fee?
• What is FEMA (Foreign Exchange Management Act)?

9. Banking Operations & Miscellaneous

• Under what condition does a depositor have to deposit 25% of the amount? (recovery/appeal context)
• An overdraft customer has drawn beyond the OD limit. Several cheques bounced. What are the bank's rights?
• What are the types of non-fund-based credit facilities?
• What is prima facie evidence?
• What is TDS and a TAN number?
• Supply bills: whom are they related to. And to whom should they be financed?
• What is a minor account?

High-Weightage LRAB Topics at a Glance

Based on the recollected pattern above, here is where the questions cluster. Use this table to decide your revision order if you are short on time.

How to Use LRAB Recollected Questions in Your Study Plan

A list of questions is only as good as the system you wrap around it. Follow this simple, high-efficiency routine to convert recollected questions into marks.

Step 1: Map Each Question to Its Concept

For every recollected question. Write the underlying Act, section idea, or definition beside it. The exam rarely repeats wording. So you must own the concept, not the sentence.

Step 2: Build a One-Page Cheat Sheet

Condense each topic into a single line: term. Meaning, and the key distinction. For example, pledge vs.

hypothecation vs. mortgage — possession, movable/immovable, and security type. One glance should refresh the whole concept.

Step 3: Drill With Timed Mock Tests

Reading is passive; testing is active. Take topic-wise and full-length mock tests under timed conditions so case studies stop feeling slow. Review every wrong answer the same day.

Step 4: Revise the Tricky Distinctions Last

In the final week, focus only on confusing pairs — DRT vs. DRAT jurisdiction, fixed vs. floating charge, recourse vs.

without-recourse LC, indemnity vs. guarantee. These small distinctions decide borderline results.

Step 5: Verify Every Number Before the Exam

Limits, fees, tenures and timelines change. Lock in your concepts here. But confirm exact figures on the latest official IIBF notification so you are never caught out by an updated rule.

Common Mistakes Candidates Make in LRAB

Most LRAB failures are avoidable. Watch out for these recurring traps that quietly cost marks every cycle.

• Memorising sentences, not concepts: The paper paraphrases. If you only learned the exact recalled wording. A small twist throws you off.
• Ignoring case studies: A big chunk of LRAB is scenario-based. Skipping practice on cheques, mortgages and guarantees is fatal.
• Confusing similar terms: Pledge vs. hypothecation, indemnity vs. guarantee, DRT vs. DRAT — mix-ups here are the most common silly errors.
• Trusting outdated figures: Old limits and fees still float around online. Always cross-check the latest official IIBF notification.
• No timed practice: Knowing the answer slowly is not enough. Without timed mock tests, case studies eat your clock.
• Last-minute cramming: LRAB rewards spaced revision. A single overnight session cannot cover this many Acts.

Frequently Asked Questions (FAQ)

Are JAIIB LRAB recollected questions the same as the actual exam paper?

No. Recollected questions are memory-based recalls shared by past candidates. They reveal the pattern.

Depth and high-weightage topics. But they are not a leaked or guaranteed-to-repeat paper. Use them to guide revision.

Not as a shortcut to skip the syllabus.

Which topics are most important in the LRAB paper?

Consistently high-yield areas include the Negotiable Instruments Act. SARFAESI Act. DRT/DRAT.

Mortgages and charges. Indemnity and guarantee, the Banking Regulation Act, and consumer protection. Case-study questions on cheques, mortgages and guarantees appear frequently.

Is the LRAB paper difficult to clear?

LRAB is considered challenging because it is definition- and section-heavy with many case studies. However, with concept-based study, recollected questions and regular mock tests, it is very much clearable. Conceptual clarity beats rote memorisation here.

How should I revise LRAB in the last week before the exam?

Focus on a one-page cheat sheet of definitions, drill the confusing distinctions (pledge vs. hypothecation, DRT vs. DRAT, fixed vs. floating charge), take full-length timed mock tests, and review mistakes daily. Verify all numerical limits on the latest official IIBF notification.

Where can I find more JAIIB LRAB study material and mock tests?

You can access topic-wise notes, recollected question sets, and full mock tests on Learning Sessions, along with detailed free guides covering each LRAB chapter and the wider JAIIB syllabus.

Final Word: Turn Recollected Questions Into a Pass

The candidates who clear LRAB are not the ones who read the most &mdash. They are the ones who practise the right questions. Own the core concepts. This curated set of JAIIB LRAB recollected questions hands you that focus on a plate.

Work through every topic above, build your cheat sheet, hammer the case studies with timed mock tests, and re-verify the latest figures from the official IIBF notification. Do that consistently and the LRAB paper stops being a hurdle and becomes one of your strongest scoring papers. You have got this — now go make it count.

Related Guides

For more on JAIIB LRAB recollected questions. See the official IIBF circulars. Our chapter-wise free notes on iibf.store.

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Bookmark this page — we keep our “JAIIB LRAB recollected questions” guidance current as IIBF revises its rules.

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