MCQOPTIONS
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MCQOPTIONS
This section includes 657 Mcqs, each offering curated multiple-choice questions to sharpen your Testing Subject knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
The tax on import and export is known as: |
| A. | Income tax |
| B. | Trade tax |
| C. | Custom tax |
| D. | None of these |
| Answer» D. None of these | |
| 2. |
Which one of the following institution is related to export financing and insurance ? |
| A. | ECGC |
| B. | GAIL |
| C. | CBDT |
| D. | IDBI |
| Answer» B. GAIL | |
| 3. |
ECGC is related to : |
| A. | Export Promotion |
| B. | Export Financing and insurance |
| C. | Export quality certification |
| D. | Export statistics publication |
| Answer» E. | |
| 4. |
In which of the following years was General Agreement on Tariffs and Trade (GATT) absorbed into the world Trade Organization (WTO) ? |
| A. | 1991 |
| B. | 1995 |
| C. | 2000 |
| D. | 2005 |
| Answer» C. 2000 | |
| 5. |
MFN Clause is one of the main pillars on which: |
| A. | WTO is based |
| B. | IMF is based |
| C. | IBRD is based |
| D. | IDA is based |
| Answer» B. IMF is based | |
| 6. |
In which one of the following places was Asia's first Export Processing Zone (EPZ) set up ? |
| A. | Kandla |
| B. | Cochin |
| C. | Surat |
| D. | Santa cruz |
| Answer» B. Cochin | |
| 7. |
which one of the following does not appear on the abacus of the Sarnath Lion Capital of Ashoka? |
| A. | Bull |
| B. | Dear |
| C. | Elephant |
| D. | Horse |
| Answer» C. Elephant | |
| 8. |
Many a time we hear about SEZ in newspaper /magazines What is the full form of SEZ ? |
| A. | Special Economic Zone |
| B. | Small Economic Zone |
| C. | Special Enforcement Zone |
| D. | Service and Economic Zone5)None of these |
| Answer» B. Small Economic Zone | |
| 9. |
Many a time we come across a term in financial newspaper Balance of Payments. What does it really reflect ? |
| A. | It is the statement of receipt from foreign countries and payments made to foreign countries |
| B. | It is the statement of the total value of GDP and share of imports in it in terms of the percentage of GDP |
| C. | It is the statement of total receipt of the Government and its share in total GDP in terms of Percentage |
| D. | only a and b5)All a B and c |
| Answer» B. It is the statement of the total value of GDP and share of imports in it in terms of the percentage of GDP | |
| 10. |
Specially developed economic zones in India where some of the economic laws and restrictions of the land are relaxed with the purpose of giving incentives to investors, are commonly known as : |
| A. | Special Economic Zone |
| B. | Preferential Zones |
| C. | Industrial Parks |
| D. | Economic Corridors5)None of these |
| Answer» B. Preferential Zones | |
| 11. |
The National Institute for Agriculture Marketing (NIAM): |
| A. | Jaipur |
| B. | NewDelhi |
| C. | Nagpur |
| D. | Hyderabad |
| Answer» B. NewDelhi | |
| 12. |
TRIPS and TRIMS are the term associated with : |
| A. | IMF |
| B. | WTO |
| C. | IBRD |
| D. | IDA |
| Answer» C. IBRD | |
| 13. |
FERA in India has been replaced by : |
| A. | FEPA |
| B. | FEMA |
| C. | FENA |
| D. | FETA |
| Answer» C. FENA | |
| 14. |
The World Trade Organisation (WTO) was formed in : |
| A. | 1991 |
| B. | 1995 |
| C. | 1997 |
| D. | 1999 |
| Answer» C. 1997 | |
| 15. |
A Trade Policy consists of : |
| A. | Export-Import Policy |
| B. | Licencing Policy |
| C. | Foreign Exchange Policy |
| D. | Balance of Payment Policy |
| Answer» B. Licencing Policy | |
| 16. |
The Monk who influenced Ashoka to embrace Buddhism was- |
| A. | Vishnu Gupta |
| B. | Upa Gupta |
| C. | Brahma Gupta |
| D. | Brihadrath |
| Answer» C. Brahma Gupta | |
| 17. |
Foreign exchange rate means the rate at which the currency of one country can be traded for : |
| A. | The currency of any other country in the foreign exchange market |
| B. | US Dollar which is the strongest currency in any foreign exchange market |
| C. | A fixed basket of currencies consisting of Dollar, yen and Pound |
| D. | The currency of any other country as determined by the International Monetary Fund |
| Answer» B. US Dollar which is the strongest currency in any foreign exchange market | |
| 18. |
The practice of selling goods in a foreign country at a price below their domestic selling price is called ? |
| A. | Diplomacy |
| B. | Discrimination |
| C. | Dumping |
| D. | Double pricing |
| Answer» D. Double pricing | |
| 19. |
What is the purpose of the India Brand Equity Fund ? |
| A. | To promote in bound tourism |
| B. | To makeMade in Indias level of quality |
| C. | To organise tradefairs |
| D. | To provide venture capital to IT sector |
| Answer» C. To organise tradefairs | |
| 20. |
Great stupa at Sanchi is in - |
| A. | Uttar Pradesh |
| B. | Madhya Pradesh |
| C. | Arunachal Pradesh |
| D. | Andhra Pradesh |
| Answer» C. Arunachal Pradesh | |
| 21. |
Which one of the following is not a source of tax revenue in Indian States ? |
| A. | Land Revenue |
| B. | Motor vehicle Tax |
| C. | Entertainment tax |
| D. | Corporate Tax |
| Answer» E. | |
| 22. |
Which one of the following is NOT the source of revenue of Central Government ? |
| A. | Income Tax |
| B. | Corporate Tax |
| C. | Agriculture Income Tax |
| D. | Excise Duty |
| Answer» D. Excise Duty | |
| 23. |
The budgetary deficit in the Union Budget of India is equal to : |
| A. | Revenue deficit plus capital deficit |
| B. | Revenue deficit minus capital deficit |
| C. | Revenue deficit plus capital deficit |
| D. | Fiscal deficit minus capital deficit |
| Answer» E. | |
| 24. |
Which of the following taxes are levied and collected by the Centre but their net proceeds are wholly transferred to States ? |
| A. | Expenditure Tax and Gift Tax |
| B. | Additional Duties of Excise in lieu of Sales Tax |
| C. | Stamps and Registration |
| D. | Taxes on Advertisements |
| Answer» E. | |
| 25. |
The Report of Vijay Kelkar Committee relates to: |
| A. | Trade Reforms |
| B. | Centre-State Financial Relations |
| C. | Disinvestment in Public Sector Enterprises |
| D. | Tax Reforms |
| Answer» E. | |
| 26. |
Finance Commission is constituted : |
| A. | Every year |
| B. | once in two years |
| C. | once in four years |
| D. | once in five years |
| Answer» E. | |
| 27. |
If the tax rate increases with the higher level of income it shall be called : |
| A. | Proportional Tax |
| B. | Progressive tax |
| C. | Lump sum tax |
| D. | regressive tax |
| Answer» C. Lump sum tax | |
| 28. |
The break-even point is where: |
| A. | Marginal revenue equals marginal cost |
| B. | Average revenue equals marginal cost |
| C. | Average revenue equals average cost |
| D. | Total revenue equals total cost |
| Answer» B. Average revenue equals marginal cost | |
| 29. |
Which event brought about a profound change in Ashoka administrative policy ? |
| A. | The Third Buddhist Council |
| B. | The Kalinga War |
| C. | His embracing of Buddhism |
| D. | His sending of missionary to Ceylon |
| Answer» C. His embracing of Buddhism | |
| 30. |
Which authority recommends the principles governing the grants-in-aid of the revenue of the states out of the Consolidated Fund of India ? |
| A. | Public Accounts Committee |
| B. | Union Ministry of Finance |
| C. | Finance Commission |
| D. | Inter-state Council |
| Answer» D. Inter-state Council | |
| 31. |
Which a midst the following taxes collected by the Union is not mandated to be assigned to the States ? |
| A. | Terminal taxes on good or passengers carried by railway, sea or air |
| B. | Taxes on railway fares and freights |
| C. | Taxes on consignment of goods |
| D. | Service tax |
| Answer» E. | |
| 32. |
Interest on public debt is a part of : |
| A. | Transfer payments by the enterprises |
| B. | Transfer payments by the Government |
| C. | National Income |
| D. | Interest Payment by House holds |
| Answer» C. National Income | |
| 33. |
Which one of the following is NOT an example of Indirect Tax ? |
| A. | Sales tax |
| B. | Excise duty |
| C. | Custom duty |
| D. | Expenditure tax |
| Answer» E. | |
| 34. |
Which of the following rates is NOT decided by the Reserve Bank of India |
| A. | Bank rate |
| B. | Repo Rate |
| C. | Reverse Repo rate |
| D. | Income tax Rates |
| Answer» E. | |
| 35. |
Which of the following rate is NOT decided by the Reserve Bank of India ? |
| A. | Bank Rate |
| B. | Repo rate |
| C. | Reverse Repo rate |
| D. | Income Tax Rates |
| Answer» E. | |
| 36. |
The Monetary Policy of India is announced by the : |
| A. | Prime Minister of India |
| B. | Governor of the RBI |
| C. | Union Finance Minister |
| D. | Union Commerce Minister |
| Answer» C. Union Finance Minister | |
| 37. |
With which of the following centres of learning Chanakya the famous teacher Chandragupta Maurya was associated ? |
| A. | Takshasila |
| B. | Nalanda |
| C. | Vikramshila |
| D. | Vaishali |
| Answer» B. Nalanda | |
| 38. |
Which one of the following is NOT a quantitative credit control technique ? |
| A. | Bank Rate |
| B. | Cash Reserve Ratio(CRR) |
| C. | Statutory Liquidity Ratio (SLR) |
| D. | Increase of interest rate on saving deposit |
| Answer» E. | |
| 39. |
Green Banking means: |
| A. | Development of forestry by banks |
| B. | Financing of environmental friendly projects by banks |
| C. | Financing of irrigation projects by Banks |
| D. | None of the above |
| Answer» C. Financing of irrigation projects by Banks | |
| 40. |
An instrument of qualitative credit control in India is: |
| A. | Open market operations |
| B. | credit rationing |
| C. | Change in reserve ratio |
| D. | Bank rate Policy |
| Answer» C. Change in reserve ratio | |
| 41. |
The Bank Rate is the rate of interest at which the Reserve Bank of India Provides loans to the : |
| A. | Scheduled Commercial Banks |
| B. | Public Sector |
| C. | Corporate Sector |
| D. | Foreign Institutional Investors |
| Answer» B. Public Sector | |
| 42. |
The Narasimhan Committee (1991)on financial reforms proposed for establishment of a : |
| A. | Four tier hierarchy of the banking structure |
| B. | Three tier hierarchy of the Banking structure |
| C. | Two tier hierarchy of the banking structure |
| D. | United control by the apex institution |
| Answer» B. Three tier hierarchy of the Banking structure | |
| 43. |
Which Bank in India performs duties of Central Bank ? |
| A. | Central Bank of India |
| B. | State Bank of India |
| C. | Both a and B |
| D. | Reserve Bank of India |
| Answer» E. | |
| 44. |
Who among the following also had the name Devanama Piyadasi ? |
| A. | Mauryan Kind Ashoka |
| B. | Gautam Buddha |
| C. | Mauryan King Chandragupta Maurya |
| D. | Bhagwan Mahavira |
| Answer» B. Gautam Buddha | |
| 45. |
Reserve Bank of India was nationalized in : |
| A. | 1947 |
| B. | 1948 |
| C. | 1949 |
| D. | 1951 |
| Answer» D. 1951 | |
| 46. |
Open Market operations of RBI refer to buying and selling of : |
| A. | Commercial bills |
| B. | Foreign exchange |
| C. | Gold |
| D. | Government bonds |
| Answer» E. | |
| 47. |
Which bank was earlier called the Imperial Bank of India ? |
| A. | RBI |
| B. | SBI |
| C. | UBI |
| D. | PNB |
| Answer» C. UBI | |
| 48. |
Bank deposits that can be withdrawn without notice are called : |
| A. | Account payee deposits |
| B. | Fixed deposits |
| C. | Variable deposits |
| D. | Demand deposits |
| Answer» E. | |
| 49. |
India s largest commercial Bank is : |
| A. | Central Bank of India |
| B. | State Bank of India |
| C. | Indian Overseas Bank |
| D. | Bank of India |
| Answer» C. Indian Overseas Bank | |
| 50. |
It is said that good banker is one who knows the distinction between Mortgage and ..... ? |
| A. | Hundi |
| B. | Bill of Exchange |
| C. | Liquid Assets |
| D. | Bond |
| Answer» D. Bond | |