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GENERAL KNOWLEDGE OF FINNACE

1. 

Since 1983, the RBI's responsibility with respect to regional rural banks was transferred to

A.

ARDC

B.

SBI

C.

NABARD

D.

PACs

Answer & Explanation

Answer: Option C

2. 

Deficit financing implies

A.

printing new currency notes

B.

replacing new currency with worn out currency

C.

public expenditure in excess of public revenue

D.

public revenue in excess of public expenditure

Answer & Explanation

Answer: Option C

3. 

In which of the following sequences the change in quantity of money leads to change in price level in the Keynesian models?

A.

Change in quantity of money - change in investment - change in employment and output - change in rate of interest - change in price level

B.

Change in quantity of money - change in employment and output - change in investment - change in the rate of interest - change in price level

C.

Change in quantity of money - change in investment - change in rate of interest - change in employment and output - change in price level

D.

Change in quantity of money - change in rate of interest - change in investment - change in employment and output - change in price level

Answer & Explanation

Answer: Option D

4. 

Foreign Direct Investment ceilings in the telecom sector have been raised from 49 percent to

A.

74 percent

B.

51 percent

C.

90 percent

D.

100 percent

Answer & Explanation

Answer: Option A

5. 

Which of the following is not a part of machinery that settles industrial disputes?

A.

Wage Court

B.

Works Committee

C.

Conciliation officers

D.

Board of Conciliation

Answer & Explanation

Answer: Option A

 

 

 

 

6. 

The central banking functions in India are performed by the

  1.         I.            Central Bank of India
  2.      II.            Reserve Bank of India
  3.    III.            State Bank of India
  4.     IV.            Punjab National Bank

A.

I, II

B.

II

C.

I

D.

II, III

Answer & Explanation

Answer: Option B

7. 

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 & Explanation

Answer: Option A

8. 

ICICI is the name of a

A.

chemical industry

B.

bureau

C.

corporation

D.

financial institution

Answer & Explanation

Answer: Option D

9. 

Gilt-edged market means

A.

bullion market

B.

market of government securities

C.

market of guns

D.

market of pure metals

Answer & Explanation

Answer: Option B

9. 

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 & Explanation

Answer: Option D

 

 

 

 

 

 

 

 

 

 

10. 

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 & Explanation

Answer: Option D

11. 

Debenture holders of a company are its

A.

shareholders

B.

creditors

C.

debtors

D.

directors

Answer & Explanation

Answer: Option B

12. 

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 & Explanation

Answer: Option C

Explanation:

What is Excise Duty? Is it collected by the State Government or the Central Government? How is it different from Sales Tax?

Excise duty is a tax on manufacture or production of goods. Excise duty on alcohol, alcoholic preparations, and narcotic substances is collected by the State Government and is called "State Excise" duty. The Excise duty on rest of goods is called "Central Excise" duty and is collected in terms of Section 3 of the Central Excise Act, 1944.

Sales Tax is different from the Excise duty as former is a tax on the act of sale while the latter is a tax on the act of manufacture or production of goods.

13. 

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 & Explanation

Answer: Option A

14. 

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 & Explanation

Answer: Option B

 

 

 

 

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