1.Debenture holders of a company are its
A.shareholders
B.creditors
C.debtors
D.directors
Answer: Option B
2.Excise duty is a tax levied on the
A.import of goods
B.export of goods
C.production of goods
D.sale of goods
Answer: Option C
3.In pursuance with the recommendations of Narsimhan Committee, the RBI has framed new guidelines
A.to govern entry of new private sector banks to make the banking sector more competitive
B.to reduce the freedom given to banks to rationalize their existing branch network
C.to setup more foreign exchange banks
D.to lend more easily for industrial development
Answer: Option A
4.Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country?
A.Reliance Energy
B.Essar Oil
C.GAIL
D.ONGC
Answer: Option B
5.The currency convertibility concept in its original form originated in
A.Wells Agreement
B.Bretton Woods Agreement
C.Taylors Agreement
D.None of the above
Answer: Option B
6.In the state of India, the State Financial Corporation have given assistance mainly to develop
A.agricultural farms
B.cottage industry
C.large-scale industries
D.medium and small-scale industries
Answer: Option D
7.The central co-operative banks are in direct touch with
A.farmers
B.state co-operative banks
C.land development banks
D.central government
Answer: Option B
8.States earn maximum revenue through
A.land revenue
B.custom revenue
C.commercial taxes
D.excise duties on intoxicants
Answer: Option C
9.Gross domestic capital formation is defined as
A.flow of expenditure devoted to increased or maintaining of the capital stock
B.expenditure incurred on physical assets only
C.production exceeding demand
D.net addition to stock after depreciation
Answer: Option D
10.On July 12, 1982, the ARDC was merged into
A.RBI
B.NABARD
C.EXIM Bank
D.None of the above
Answer: Option B
11.Which of the following is the most appropriate cause of exports surplus?
A.Country's exports promotion value
B.Country's stringent import policy
C.Developments in national and international markets
D.None of the above
Answer: Option C
12.If the cash reserve ratio is lowered by the RBI, its impact on credit creation will be to
A.increase it
B.decrease it
C.no impact
D.None of the above
Answer: Option A
13.Which of the following items would not appear in a company's balance sheet?
A.Value of stocks of raw materials held
B.Total issued capital
C.Revenue from sales of the company's products
D.Cash held at the bank
Answer: Option C
14.If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits
A.will decrease
B.will increase
C.will neither increase nor decrease
D.None of the above
Answer: Option C
15.India changed over to the decimal system of coinage in
A.April 1995
B.April 1957
C.April 1958
D.April 1959
Answer: Option B
16The association of the rupee with pound sterling as the intervention currency was broken in
A.1990
B.1991
C.1992
D.1993
Answer: Option C
17.On which one of the followings is the benefits received principle of taxation to achieve optimality bases?
A.Marginal benefit received
B.Total benefit received
C.Average benefit received
D.Ability to pay for the benefit
Answer: Option D
18.Devaluation of a currency means
A.reduction in the value of a currency vis-a-vis major internationally traded currencies
B.permitting the currency to seek its worth in the international market
C.fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies
D.fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners
Answer: Option A
19.In the second nationalization of commercial banks, ___ banks were nationalized.
A.4
B.5
C.6
D.8
Answer: Option C
20.Since independence, both development and non-development expenditures have increased; the increase in the former being a little more than in the other. Non-development expenditure involves
interest payments
subsidies
defence
irrigation
A.I, II
B.I
C.I, II, III
D.II, III, IV
Answer: Option C
21.Depreciation means
A.closure of a plant due to lock out
B.closure of a plant due to labour trouble
C.loss of equipment over time due to wear and tear
D.destruction of a plant in a fire accident
Answer: Option C
22.Deficit financing leads to inflation in general, but it can be checked if
A.government expenditure leads to increase in the aggregate supply in ratio of aggregate demand
B.only aggregate demand is increased
C.all the expenditure is denoted national debt payment only
D.All of the above
Answer: Option D
23.The central banking functions in India are performed by the
Central Bank of India
Reserve Bank of India
State Bank of India
Punjab National Bank
A.I, II
B.II
C.I
D.II, III
Answer: Option B
24.Development expenditure of the Central government does not include
A.defence expenditure
B.expenditure on economic services
C.expenditure on social and community services
D.grant to states
Answer: Option A
ICICI is the name of a
A.chemical industry
B.bureau
C.corporation
D.financial institution
Answer: Option D
25.In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?
A.Chemicals other than fertilizers
B.Services sector
C.Food processing
D.Telecommunication
Answer: Option D
26.Non Tax revenues can be increased by improving the working of the
A.State Road Transport Corporations
B.electricity boards
C.commercial irrigation projects
D.All of the above
Answer: Option C
Which of the following is not viewed as a national debt?
A.Provident Fund
B.Life Insurance Policies
C.National Saving Certificate
D.Long-term Government Bonds
Answer: Option C
27.The condition of indirect taxes in the country's revenue is approximately
A.70 percent
B.75 percent
C.80 percent
D.86 percent
Answer: Option D
28.Deficit financing means that the government borrows money from the
A.RBI
B.local bodies
C.big businessmen
D.IMF
Answer: Option A
29.Revenue of the state governments are raised from the following sources, except
A.entertainment tax
B.expenditure tax
C.agricultural income tax
D.land revenue
Answer: Option C
Our financial system has provided for the transfer of resources from the centre to the states; the important means of resource transfer are
A.tax sharing
B.grant-in-aids
C.loans
D.All the above
Answer: Option D
30.Debenture holders of a company are its
A.shareholders
B.creditors
C.debtors
D.directors
Answer: Option B
31.Excise duty is a tax levied on the
A.import of goods
B.export of goods
C.production of goods
D.sale of goods
Answer: Option C
32.In pursuance with the recommendations of Narsimhan Committee, the RBI has framed new guidelines
A.to govern entry of new private sector banks to make the banking sector more competitive
B.to reduce the freedom given to banks to rationalize their existing branch network
C.to setup more foreign exchange banks
D.to lend more easily for industrial development
Answer: Option A
33.Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country?
A.Reliance Energy
B.Essar Oil
C.GAIL
D.ONGC
Answer: Option B
34.In India, inflation measured by the
A.Wholesale Price Index number
B.Consumers Price Index for urban non-manual workers
C.Consumers Price Index for agricultural workers
D.National Income
Answer: Option A
35.The annual yield from which of the following Union Government taxes is the highest?
A.Custom duties
B.Corporation tax and income tax
C.Inheritance tax, wealth tax, interest tax and gift tax
D.Excise duties
Answer: Option D
36.Subsidies mean
A.payment by government for purchase of goods and services
B.payment made by business enterprises to factors of production
C.payment made by companies to shareholders
D.payment made by the government to business enterprises, without buying any goods and services
Answer: Option D
37.National expenditure includes
A.consumption expenditure
B.investment expenditure
C.government expenditure
D.All of the above
Answer: Option D
38.Resurgent India Bonds were issued in US dollar, Pound Sterling and
A.Japanese Yen
B.Deutsche Mark
C.Euro
D.French Franc
Answer: Option B
39.If the RBI adopts an expansionist open market operations policy, this means that it will
A.buy securities from non-government holders
B.sell securities in the open market
C.offer commercial banks more credit in the open market
D.openly announce to the market that it intends to expand credit
Answer: Option C
40.Redistribution polices geared to reduce economic inequalities include
A.progressive tax policies
B.land reforms
C.rural development policies
D.All the above
Answer: Option D
41.Short-term finance is usually for a period ranging up to
A.5 months
B.10 months
C.12 months
D.15 months
Answer: Option C
42.Reserve Bank of India was nationalized in the year
A.1935
B.1945
C.1949
D.1969
Answer: Option C
Explanation:
RBI established in 1935 and nationalized in 1949.
Ref: http://en.wikipedia.org/wiki/Reserve_Bank_of_India
43.Fiscal deficit in the Union Budget means
A.the difference between current expenditure and current revenue
B.net increase in Union Governments borrowings from the Reserve Bank of India
C.the sum of budgetary deficit and net increase in internal and external borrowings
D.the sum of monetized deficit and budgetary deficit
Answer: Option C
44.Notes on which denomination has the portrait of Mahatma Gandhi printed on them?
A.1000 rupee
B.500 rupee
C.100 rupee
D.All of the above
Answer: Option D
45.The banks are required to maintain a certain ratio between their cash in the hand and totals assets. This is called
A.Statutory Bank Ratio (SBR)
B.Statutory Liquid Ratio (SLR)
C.Central Bank Reserve (CBR)
D.Central Liquid Reserve (CLR)
Answer: Option B
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