SLET NE Commerce Solved Paper 2022 [Paper II]


SLET NE Commerce Solved Paper 2022 (Paper II)

Assam SLET Solved Question Paper Commerce

[Time: 2 hour; Maximum Marks: 200]

Note: This paper contains Hundred (100) objective type questions, each question carrying two (02) marks. All the questions are compulsory.

In this post you will get SLET NE Commerce Solved Paper 2022 with Proper Explanation. SLET NE General Paper 1 Solutions will also be available very soon on our website.

Assam SLET Exam is conducted every year by SLET Commission NE Region. Question Papers of Assam SLET Exam is tough as compared to UGC NET Exam question paper. Syllabus of Assam SLET (SLET NE) Exam and UGC NET exam is similar. You can refer Assam SLET Commerce syllabus for 2023 here.

SLET NE Commerce Solved Paper 2022

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Assam SLET (SLET NE) Commerce Solved Question Paper 2022

Assam SLET (SLET NE) Commerce Solved Question Paper 2023

1. Match the Industrial Policies in List-I with its corresponding objectives / thrusts in List-II using the correct codes given below:

List-I

List-II

(a) Industrial Policy, 1948.

(b) Industrial Policy, 1956.

(c) Industrial Policy, 1977.

(d) Industrial Policy, 1980.

I. Best on Developing Heavy Industry.

II. Reducing Industrial Sickness, unemployment rural-urban disparities.

III. Mixed Economy.

IV. Breaking vicious circle inhibited by infrastructural gap and inadequacies of performance.

Codes: 

(A) (a)-(III), (b)-(I), (c)-(IV), (d)-(II).

(B) (a)-(III), (b)-(I), (c)-(II), (d)-(IV).

(C) (a)-(II), (b)-(III), (c)-(IV), (d)-(I).

(D) (a)-(IV), (b)-(III), (c)-(II), (d)-(I).

Ans: (B) (a)-(III), (b)-(I), (c)-(II), (d)-(IV).

2. Read the following Assertion (Ass) and Reason (R) and choose the right answer using the codes given below:

Assertion (Ass): IBRD was created to provide long term finance.

Reason (R): IMF was created to solve short term balance of payment problem of members countries.

Select the correct code:

Codes:

(A) (Ass) is correct, but (R) is incorrect.

(B) Both (Ass) and (R) are correct, and (R) provides full explanation of (Ass).

(C) Both (Ass) and (R) are correct but (R) does not provide full explanation of (Ass).

(D) Both (Ass) and (R) are incorrect.

Ans: (C) Both (Ass) and (R) are correct but (R) does not provide full explanation of (Ass).

3. Which of the following statements are true / false?

Select the correct answer from the codes given below:

Statement I: Balance of current account is based on flow concept.

Statement II: Balance of capital account is a ‘change in stock’ concept.

Codes:

(A) I – True, II – True.

(B) I – False, II – False.

(C) I – True, II – False.

(D) I – False, II – True.

Ans: (A) I – True, II – True.

4. The balance of payments of a country on A/c is equal to:

(A) Balance of trade plus short term loans.

(B) Balance of trade plus net invisible exports.

(C) Balance of payments minus capital flows.

(D) Balance of invisible trade plus imports.

Ans: (B) Balance of trade plus net invisible exports.

5. An increase in the current a/c deficit will place _______ pressure on the home currency value, other things being same. (Fill in the blank)

(A) upward.

(B) downward.

(C) no.

(D) upward or downward depending on the size of deficit.

Ans: (B) downward.

6. Which of the following are the examples of ‘Currency controls’?

(A) Import restrictions.

(B) Prohibition of remittance of funds.

(C) Ceilings on granting credit to foreign firms.

(D) All of the above.

Ans: (D) All of the above.

7. Which one of the following was not related to the steps initiated to overcome the deep economic crisis of 1991?

(A) Laying strong foundation of mixed economy.

(B) Fiscal correction aimed to reducing deficit.

(C) Abolishing Industrial Licensing Raj.

(D) Widening limit of foreign equity holding in wide range of priority industry.

Ans: (A) Laying strong foundation of mixed economy.

8. Match the Elements of Business Environment in List-I with its respective classification in List-II and select correct answer using the codes given below the lists:

List-I

List-II

(a) Stakeholders.

(b) Market intermediaries.

(c) Balance of payment situation.

(d) Demographic factors.

1. Non-economic Environment.

2. Macroeconomic Environment.

3. Microeconomic Environment.

4. Internal Environment.

Codes: 

(A) (a)-(1), (b)-(2), (c)-(3), (d)-(4).

(B) (a)-(1), (b)-(4), (c)-(2), (d)-(3).

(C) (a)-(4), (b)-(3), (c)-(2), (d)-(1).

(D) (a)-(4), (b)-(3), (c)-(1), (d)-(2).

Ans: (C) (a)-(4), (b)-(3), (c)-(2), (d)-(1).

9. International Monetary System that prevailed during 1947 to 1971 is generally known as:

(A) Pegged Exchange Rate System.

(B) Crawling Exchange Rate System.

(C) Hybrid Exchange Rate System.

(D) Swapped Exchange Rate System.

Ans: (A) Pegged Exchange Rate System.

10. Match List-I with List-II and find the correct combination using the codes given below:

List-I

List-II

(a) World Bank.

(b) International Finance Corporation.

(c) International Development Association.

(d) Asian Development Bank.

I. 1944.

II. 1956.

III. 1960.

IV. 1966.

Codes: 

(A) (a)-(I), (b)-(II), (c)-(III), (d)-(IV).

(B) (a)-(II), (b)-(III), (c)-(I), (d)-(IV).

(C) (a)-(I), (b)-(III), (c)-(II), (d)-(IV).

(D) (a)-(II), (b)-(IV), (c)-(III), (d)-(I).

Ans: (A) (a)-(I), (b)-(II), (c)-(III), (d)-(IV).

11. On issue of Shares, the Application money should not be less than –

(A) 2.5% of the normal value of shares.

(B) 2.5% of the issue price of shares.

(C) 5% of the nominal value of shares.

(D) 5% of the issue price of the shares.

Ans: (C) 5% of the nominal value of shares.

12. Match the List-I with List-II and find the correct combination using codes given below:

List-I

List-II

(a) Going concern.

(b) Consistency.

(c) Cost principle.

(d) Materiality.

(i) The same accounting method used by a firm from one period to another.

(ii) Relates to the relative size or importance of an item or event.

(iii) An inappropriate assumption for a firm undergoing bankruptcy.

(iv) The normal basis used to account for assets.

Codes: 

(A) (a)-(i), (b)-(ii), (c)-(iii), (d)-(iv).

(B) (a)-(iv), (b)-(iii), (c)-(ii), (d)-(i).

(C) (a)-(iii), (b)-(ii), (c)-(iv), (d)-(i).

(D) (a)-(iii), (b)-(i), (c)-(iv), (d)-(ii).

Ans: (D) (a)-(iii), (b)-(i), (c)-(iv), (d)-(ii).

13. Read the following Assertion (Ass) and Reason (R) and select the correct answer using the codes given below:

Assertion (Ass): The financial statements prepared on historical cost basis result into an erosion of capital in the long run.

Reason (R): Maintaining the books of accounts as per Current Purchasing Power Technique only may contain the inflationary pressure.

Codes:

(A) Both (Ass) and (R) are true and (R) is the correct explanation of (Ass).

(B) Both (Ass) and (R) are true but (R) is not the correct explanation of (Ass).

(C) (Ass) is true, but (R) is false.

(D) (Ass) is false, but (R) is true.

Ans: (B) Both (Ass) and (R) are true but (R) is not the correct explanation of (Ass).

14. A, B and C are partners in a business firm sharing their profits in the ratio of 4:3:2. D, a new partner enters the firm. The new profit sharing ratio is 5:4:2:1. D contributes a goodwill of Rs. 36,000. This goodwill is to be allocated among A,B and C. Which one of the following will be the correct allocation?

(A) 16,000, 12,000 and 8,000.

(B) 12,000, NIL and 24,000.

(C) 24,000, NIL and 12,000.

(D) 12,000, 8,000 and 16,000.

Ans: (B) 12,000, NIL and 24,000.

15. Read the following statements, one is Labelled as Assertion (Ass) and the other as Reason (R) and select your answer using the codes below:

Assertion (Ass): The interest on borrowed funds can be capitalised upto completion of the fixed assets.

Reason (R): The completion of fixed assets has been possible only because of the borrowed fund.

Codes:

(A) Both (Ass) and (R) are true and (R) is the correct explanation of (Ass).

(B) Both (Ass) and (R) are true and (R) is not the correct explanation of (Ass).

(C) (Ass) is true but (R) is false.

(D) (Ass) is false but (R) is true.

Ans: (A) Both (Ass) and (R) are true and (R) is the correct explanation of (Ass).

16. Read the following statements carefully and choose the correct answer using the codes given below:

Statement-I: Capital structure of a Business refers to composition of long term funds.

Statement-II: It includes equity share capital, preference shares capital, debentures, all debts and reserves.

Codes:

(A) Statement I is correct but Statement II is incorrect.

(B) Statement I is incorrect but Statement II is correct.

(C) Both the Statements I and II are correct.

(D) Both the Statements I and II are incorrect.

Ans: (C) Both the Statements I and II are correct.

17. A receipt of Rs. 1,75,000 from a customer but credited to his account as Rs. 7,51,000 is:

(A) an error of omission.

(B) an error of commission.

(c) an error of principles.

(d) a compensating error.

Ans: (B) an error of commission.

18. What is the earning per share of a company that earned Rs. 1,00,000 last year after income tax payment of Rs. 30,000, having 20,000 equity shares outstanding and Rs. 50,000 retained earnings at the year end?

(A) Rs. 2.50.

(B) Rs. 5.00.

(C) Rs. 6.50.

(D) Rs. 7.50.

Ans: (B) Rs. 5.00.

19. Which of the following statements are correct with regards to issue of bonus shares?

(1) Bonus shares can be made out of General Reserves.

(2) Bonus shares can be made out of Realised Capital Reserve A/c.

(3) Bonus shares can be issued out of Revaluation Reserve A/c.

(4) Bonus shares can be issued out of Profit and Loss A/c (Cr.)

Codes:

(A) (1) and (4).

(B) (2) and (3).

(C) (1), (2) and (4).

(D) (2), (3) and (4).

Ans: (A) (1) and (4).

20. Contingent Liability of a business is shown in the notes forming the part of Balance Sheet in accordance to –

(A) Doctrine of Conservatism.

(B) Doctrine of Disclosure.

(C) Concept of Materiality.

(D) Dual Aspect Concept.

Ans: (A) Doctrine of Conservatism.

21. According to Engel’s Law, as income increases –

(A) the percentage spent on food decreases.

(B) the percentage spent on housing increases.

(C) the percentage spent on the categories other than food and housing increases.

(D) the percentage spent on savings remain unchanged.

Ans: (C) the percentage spent on the categories other than food and housing increases.

22. For the following statements of Assertion (Ass) and Reason (R), indicate the correct answer using the codes given below:

Assertion (Ass): Total utility will be maximum, when marginal utility to price of respective products are equal.

Reason (R): Deviation from this situation leads to reduction in maximum utility.

Codes:

(A) Both (Ass) and (R) are true.

(B) Both (Ass) and (R) false.

(C) (Ass) is true, but (R) is false.

(D) (Ass) is false, but (R) is true.

Ans: (C) (Ass) is true, but (R) is false.

23. A commodity is used for multiple purposes, then the demand for it is known as –

(A) joint demand.

(B) composite demand.

(C) direct demand.

(D) autonomous demand.

Ans: (B) composite demand.

24. Read the statements Assertion (Ass) and Reasoning (R) and select the correct answer:

Assertion (Ass): Law of increasing returns to scale is an indicator of economies of scale in production.

Reasoning (R): Economies of scale indicates fall in long run average cost.

Codes:

(A) Assertion is true, Reasoning is false.

(B) Assertion is false, Reasoning is true.

(C) Both Assertion and Reasoning are true.

(D) Both Assertion and Reasoning are false.

Ans: (C) Both Assertion and Reasoning are true.

25. Match List-I with List-II and select the correct answer using the codes given below:

List-I

List-II

(a) Contraction of Demand.

(b) Decrease in Demand.

(c) Increase in Demand.

(d) Expansion of Demand.

1. Non-price change effect.

2. Demand curve remain same.

3. Price change effect.

4. Shift in demand curve.

Codes: 

(A) (a)-(3), (b)-(1), (c)-(4), (d)-(2).

(B) (a)-(4), (b)-(3), (c)-(2), (d)-(1).

(C) (a)-(1), (b)-(2), (c)-(3), (d)-(4).

(D) (a)-(2), (b)-(4), (c)-(1), (d)-(3).

Ans: (A) (a)-(3), (b)-(1), (c)-(4), (d)-(2).

26. Price, Marginal Revenue and Elasticity are related to each other. When e=1, then –

(A) MR > 0.

(B) MR < 0.

(C) MR = 0.

(D) MR = 1.

Ans: (C) MR = 0.

27. What kind of economics explain the phenomenon of cause and effect relationship?

(A) Normative.

(B) Positive.

(C) Micro.

(D) Macro.

Ans: (B) Positive.

28. In the short run period, monopolist firm is at equilibrium:

(A) When the firm is at break-even point.

(B) When, AR > AC.

(C) When, AR < AC.

(D) All of the above are correct.

Ans: (D) All of the above are correct.

29. In Cobb-Douglas production function, elasticity of factor substitution is:

(A) zero.

(B) one.

(C) infinity.

(D) less than 1.

Ans: (B) one.

30. For profit maximisation of a firm we must have:

(i) MR = MC.

(ii) MC curve cuts the average cost curves from below

Indicate the correct code:

(A) Only (i) is correct.

(B) Only (ii) is correct.

(C) Both (i) and (ii) are correct.

(D) Both (i) and (ii) are incorrect.

Ans: (C) Both (i) and (ii) are correct.

31. Given below are two statements, one is Assertion (Ass) and another is the Reason (R). Select the correct answer by using the codes:

Assertion (Ass): In recent years Cobb-Douglas production function has been extensively used in empirical studies.

Reason (R): Cobb-Douglas production function does not suffer from any limitation.

Codes:

(A) Both (Ass) and (R) are correct.

(B) Both (Ass) and (R) are incorrect.

(C) (Ass) is correct but (R) is incorrect.

(D) (R) is correct but (Ass) is incorrect.

Ans: (B) Both (Ass) and (R) are incorrect.

32. Match the items of List-I (that represents various committees) with the items of List-II (that represents the year of their constitutions)

List-I

List-II

(a) Chore Committee.

(b) Marathe Committee.

(c) Chakravarty Committee.

(d) Tandon Committee.

1. 1974.

2. 1979.

3. 1982.

4. 1985.

Codes: 

(A) (a)-(1), (b)-(2), (c)-(3), (d)-(4).

(B) (a)-(2), (b)-(1), (c)-(4), (d)-(3).

(C) (a)-(1), (b)-(3), (c)-(4), (d)-(2).

(D) (a)-(2), (b)-(3), (c)-(4), (d)-(1).

Ans: (D) (a)-(2), (b)-(3), (c)-(4), (d)-(1).

33. Which of the following statements are true / false?

Select the correct answer from the codes given below:

Statement I: REPO leads to injection of liquidity in money market.

Statement II: ‘Reverse Repo’ implies absorption of liquidity in money market.

Statement III: Debentures are negotiable instruments.

Statement IV: Fixed Deposits in Banks are not negotiable.

Codes:

(A) I – True, II – True, III – False, IV – False.

(B) I – True, II – False, III – True, IV – False.

(C) I – False, II – False, III – False, IV – False.

(D) I – True, II – True, III – True, IV – True.

Ans: (D) I – True, II – True, III – True, IV – True.

34. Use of fixed interest securities in the capital structure is called –

(A) Operating Leverage.

(B) Financial Leverage.

(C) Overall Leverage.

(D) None of the above.

Ans: (B) Financial Leverage.

35. Who is not a speculator in the stock exchange among the following?

(A) Bull.

(B) Bear.

(C) Broker.

(D) Stag.

Ans: (C) Broker.

36. The rate of discount at which NPV of a project becomes zero is also known as:

(A) Average Rate of Return.

(B) Internal Rate of Return.

(C) Alternate Rate of Return.

(D) None of the above.

Ans: (B) Internal Rate of Return.

37. Examine the statements and state whether they are True / False by selecting the correct option using the codes given below:

(a) Pay-back period method considers the true profitability of a project.

(b) Accounting Rate of Return method does not consider time value of money.

(c) Internal Rate of Return method considers time value of money.

(d) Net Present Value method considers time value of money.

Codes:

(A) (a) – True, (b) – False, (c) – False, (d) – False.

(B) (a) – True, (b) – False, (c) – False, (d) – True.

(C) (a) – False, (b) – True, (c) – True, (d) – False.

(D) (a) – False, (b) – True, (c) – True, (d) – True.

Ans: (D) (a) – False, (b) – True, (c) – True, (d) – True.

38. Which of the following is a correct explanation of the statement: “National Savings Certificates are not money market instruments”?

(A) It is not transferable.

(B) It is a long-term instrument.

(C) It is issued by the Government.

(D) Both (A) and (B) of the above.

Ans: (B) It is a long-term instrument.

39. A firm’s “Degree of Total Leverage” (DTL) is equal to its “Degree of Operating Leverage” (DOL) _______ its “Degree of Financial Leverage” (DFL). (Fill in the blank)

(A) plus.

(B) minus.

(C) multiplied by.

(D) divided by.

Ans: (C) multiplied by.

40. If the intrinsic value of a stock is greater than its market value, which of the following is a reasonable conclusion?

(A) The stock offers a high dividend pay-out ratio.

(B) The stock has a low level of risk.

(C) The market is undervaluing the stock.

(D) The market is overvaluing the stock.

Ans: (C) The market is undervaluing the stock.

41. Which one of the following may be used to calculate the Return on Investment Ratio?

(A) Operating Net Profit Ratio x Shareholders Fund.

(B) Net Profit / Sales.

(C) Net Profit x Capital Turnover Ratio.

(D) Cost of Capital / Capital employed in the business.

Ans: (C) Net Profit x Capital Turnover Ratio.

42. If the group has values 10, 12, 16, 20, 25, 30, the range is:

(A) 10.

(B) 20.

(C) 25.

(D) 30.

Ans: (B) 20.

43. Which type of dispersion is used in sampling theory?

(A) Range.

(B) Mean Deviation.

(C) Standard Deviation.

(D) None of the above.

Ans: (C) Standard Deviation.

44. For the statements Assertion (Ass) and Reason (R) select the correct answer using the codes given below:

Assertion (Ass): ‘Price’ and ‘Demand’ have negative coefficient correlation.

Reason (R): When price increases, demand decreases and when price decreases, demand increases.

Codes:

(A) Both (Ass) and (R) are true and (R) is the correct explanation of (Ass).

(B) Both (Ass) and (R) are true but (R) is not the correct explanation of (Ass).

(C) Both (Ass) and (R) are false.

(D) (Ass) is true but (R) is false.

Ans: (A) Both (Ass) and (R) are true and (R) is the correct explanation of (Ass).

45. Read the statements (a, b and c) and examine whether these are true or false. Select the correct combination from the answer codes given below:

(a) F-test is generally known as the variance ratio test and is mostly used in content of analysis of variance.

(b) Chi-square is a test statistic used to test a hypothesis that provides a set of theoretical frequencies with which observed frequencies are compared.

(c) When the populations mean is either lower or higher than some hypothesized value, one tailed test is considered to be appropriate.

Codes:

(A) (a) – True, (b) – True, (c) – True.

(B) (a) – False, (b) – False, (c) – False.

(C) (a) – True, (b) – True, (c) – False.

(D) (a) – True, (b) – False, (c) – False.

Ans: (A) (a) – True, (b) – True, (c) – True.

46. Which of the following is a non-parametric test?

(A) Mann-Whitney Test.

(B) Rank correlation method.

(C) Kolmogorov-Smirnov Test.

(D) All of the above.

Ans: (D) All of the above.

47. Classification of respondents on the basis of gender is an application of:

(A) Ordinal scale.

(B) Nominal scale.

(C) Interval scale.

(D) Ratio scale.

Ans: (B) Nominal scale.

48. F-test is used to test the significance of the differences between / among –

(A) two sample mean.

(B) more than two sample mean.

(C) variance of two samples.

(D) Both (B) and (C).

Ans: (D) Both (B) and (C).

49. The difference between sample statistics and its corresponding population parameter is:

(A) Sampling error.

(B) Measurement error.

(C) Coverage error.

(D) Non-response error.

Ans: (A) Sampling error.

50. Find out the value at the median from the following frequency table:

Size of items:

8

10

12

14

16

18

20

Frequency:

3

7

12

28

10

9

6

 (A) 12.

(B) 14.

(C) 16.

(D) 18.

Ans: (B) 14.

51. Statement I: Chi-square test is used to measure the association between two attributes.

Statement II: We apply non-parametric test like Chi-square test for data measured on week scale like nominal scale or ordinal scale.

Indicate the correct code:

(A) Statement I is correct, while statement II is incorrect.

(B) Statement I is incorrect, while statement II is correct.

(C) Both the statements are correct.

(D) Both the statements are incorrect.

Ans: (C) Both the statements are correct.

52. Which of the following functions of HRM deals with the collective bargaining?

(A) Staffing.

(B) Forecasting.

(C) Employee assistance management.

(D) Employee relations management.

Ans: (D) Employee relations management.

53. Examine whether the following statements are true or false and select the correct answer from codes given below:

Statement I: Retrenchment is a termination of employee’s services due to redundancy of workforce.

Statement II: Dismissal is a termination of employee’s services by punishment for misconduct or unsatisfactory services.

Statement III: Lay-off is permanent removal of an employee from payroll due to circumstances beyond employer’s control.

Codes:

(A) I – True, II – False, III – False.

(B) I – False, II – True, III – True.

(C) I – True, II – True, III – True.

(D) I – True, II – True, III – False.

Ans: (D) I – True, II – True, III – False.

54. Which method of manpower forecasting uses expected future workload and employee efficiency?

(A) Work Study Method.

(B) Ratio Trend Analysis.

(C) Mathematical Models.

(D) Managerial Judgement.

Ans: (D) Managerial Judgement.

55. A business, investment or product that provides a steady income or profit is known as:

(A) Cash cows.

(B) Stars.

(C) Leaders.

(D) None of the above.

Ans: (A) Cash cows.

56. Which of the following styles of leadership is based on task oriented behaviour and vertical one-way communication?

(A) Democratic style.

(B) Autocratic style.

(C) Laissez Faire style.

(D) All of the above.

Ans: (B) Autocratic style.

57. Match the following:

List-I

(Proponents)

List-II

(Management thoughts)

(a) F.W. Taylor.

(b) Elton Mayo.

(c) William Ouchi.

(d) Rensis Likert.

1. System theory.

2. ‘Z’ theory.

3. Scientific Management.

4. Human relations.

Codes: 

(A) (a)-(2), (b)-(4), (c)-(3), (d)-(1).

(B) (a)-(3), (b)-(2), (c)-(4), (d)-(1).

(C) (a)-(1), (b)-(3), (c)-(2), (d)-(4).

(D) (a)-(3), (b)-(4), (c)-(2), (d)-(1).

Ans: (D) (a)-(3), (b)-(4), (c)-(2), (d)-(1).

58. Which of the following statements are true / false?

Select the correct answer from the codes given below:

Statement – I: Human resource management helps organisation to reach its goals.

Statement – II: Human resource management helps to communicate HR policies to all employees.

Statement – III: Human resource planning helps to forecast personnel requirement.

Codes:

(A) I – True, II – True, III – False.

(B) I – False, II – True, III – True.

(C) I – True, II – True, III – True.

(D) I – True, II – False, III – True.

Ans: (C) I – True, II – True, III – True.

59. Which of the following theory is based on the combination of American and Japanese Management styles?

(A) Theory X and Y.

(B) Limit on rationality theory.

(C) Theory Z.

(D) Change theory.

Ans: (C) Theory Z.

60. Assertion (Ass): Management is a continuous process involving the integration of all functions.

Reason (R): Managers first plan, then organise and finally perform the function of controlling.

Select the correct answer from the codes given below:

Codes:

(A) Both (Ass) and (R) are correct and (R) is the correct explanation of (Ass).

(B) Both (Ass) and (R) are correct, but (R) is not the correct explanation of (Ass).

(C) (Ass) is correct, but (R) is incorrect.

(D) (Ass) is incorrect, but (R) is correct.

Ans: (A) Both (Ass) and (R) are correct and (R) is the correct explanation of (Ass).

61. According to Fiedler’s contingency leadership model, which of the following variables decides leadership style?

(A) Leader-Member relationship.

(B) Task structure.

(C) Power position.

(D) All of the above.

Ans: (D) All of the above.

62. Para Banking Services refer to:

(A) Eligible financial services rendered by bank.

(B) Utility services provided by the banks.

(C) Services provided through business correspondent.

(D) Services provided by bank to the armed force personnel.

Ans: (B) Utility services provided by the banks.

63. Buying or selling of securities on the basis of confidential price sensitive information is called:

(A) Market Rigging.

(B) Kerb Trading.

(C) Cornering.

(D) Insider Trading.

Ans: (D) Insider Trading.

64. Match List – I (Fund) with List – II (Purpose of Fund) and select the correct answer using the codes given below the lists:

List-I

List-II

(a) Sinking Fund.

(b) Capital Redemption Reserve Fund.

(c) Dividend Equalization Fund.

(d) General Reserve Fund.

1. Maintaining stable rate of dividend.

2. Periodical Redemption of debenture.

3. Meeting contingencies.

4. Redeeming preference shares.

Codes: 

(A) (a)-(4), (b)-(2), (c)-(1), (d)-(3).

(B) (a)-(2), (b)-(4), (c)-(3), (d)-(1).

(C) (a)-(4), (b)-(2), (c)-(3), (d)-(1).

(D) (a)-(2), (b)-(4), (c)-(1), (d)-(3).

Ans: (D) (a)-(2), (b)-(4), (c)-(1), (d)-(3).

65. Rate at which central bank gives loans to commercial banks is called:

(A) Bank Rate.

(B) Repo Rate.

(C) Forex Rate.

(D) Reverse Repo Rate.

Ans: (A) Bank Rate.

66. Read the statements Assertion (Ass) and Reasoning (R) and select the correct answer:

Assertion (Ass): Custodian of foreign exchange reserve is one of the main functions of RBI.

Reason (R): Periodical inspections of various banks are also the main function of RBI.

Codes:

(A) Both (Ass) and (R) are correct.

(B) (Ass) is correct but (R) is wrong.

(C) (Ass) is wrong and (R) is correct.

(D) Both (Ass) and (R) are wrong.

Ans: (B) (Ass) is correct but (R) is wrong.

67. Repo and Reverse Repo rates are used by the RBI as the tools of:

(A) Credit Control.

(B) Settlement System.

(C) Liquidity Control.

(D) Currency Management.

Ans: (C) Liquidity Control.

68. Match the List – I with List – II and find the correct match using the codes given below:

List-I

List-II

(a) IFCI.

(b) IDBI.

(c) UTI.

(d) ICICI.

I. 1955.

II. 1964.

III. 1948.

IV. 1964.

Codes: 

(A) (a)-(III), (b)-(II), (c)-(I), (d)-(IV).

(B) (a)-(III), (b)-(II), (c)-(IV), (d)-(I).

(C) (a)-(I), (b)-(II), (c)-(III), (d)-(IV).

(D) (a)-(IV), (b)-(III), (c)-(II), (d)-(I).

Ans: (B) (a)-(III), (b)-(II), (c)-(IV), (d)-(I).

69. Match the items of List – I with the items of List – II and select the correct answer using codes given below:

List-I

List-II

(a) Base Rate.

(b) Bank Rate.

(c) Repo Rate.

(d) Reverse Repo Rate.

I. Rate at which RBI gives loans to Commercial Banks by discounting bills.

II. Minimum lending rate decided by RBI which shall be adopted by all Public Sector Banks.

III. Rate at which RBI lends to Commercial Banks.

IV. Rate at which Banks park their short term excess liquidity with RBI.

Codes: 

(A) (a)-(II), (b)-(I), (c)-(III), (d)-(IV).

(B) (a)-(II), (b)-(I), (c)-(IV), (d)-(III).

(C) (a)-(II), (b)-(III), (c)-(IV), (d)-(I).

(D) (a)-(II), (b)-(IV), (c)-(III), (d)-(I).

Ans: (A) (a)-(II), (b)-(I), (c)-(III), (d)-(IV).

70. Match the types of charges usually created by the banks to safeguard their advances in List – I with their meaning as given in List – II.

List-I

List-II

(1) Assignment.  

(2) Set-off.  

(3) Hypothecation.

(4) Pledge.

(i) Bailment of goods for purpose of providing security for Payment of Debt or Performance of Promise.

(ii) Providing security by transferring right, actionable claim or property.

(iii) Mortgage of movable property.

(iv) Merging of total or partial claim of one person against another in a counter claim by the later against the former.

Codes: 

(A) (1)-(ii), (2)-(iv), (3)-(iii), (4)-(i).

(B) (1)-(ii), (2)-(iv), (3)-(i), (4)-(iii).

(C) (1)-(ii), (2)-(i), (3)-(iii), (4)-(iv).  

(D) (1)-(i), (2)-(ii), (3)-(iv), (4)-(iii).  

Ans: (A) (1)-(ii), (2)-(iv), (3)-(iii), (4)-(i).

71. Consider the following situation and select which of them may be called “Kerb Trading”:

(A) When a bear sells a large volume of securities without possession.

(B) When a bull buys a large volume of securities in expectation of rise of price.

(C) When purchase and sells of securities happen not in the trading hours of stock exchange or outside premises of stock exchange.

(D) Buying and selling of securities simultaneously for a long period of time.

Ans: (C) When purchase and sells of securities happen not in the trading hours of stock exchange or outside premises of stock exchange.

72. When an importing country sets limits on the amount of goods it will accept in certain product categories, it is called:

(A) Quota.

(B) Barrier.

(C) Tariff.

(D) Embargo.

Ans: (A) Quota.

73. The division of a market into different groups of customers with distinctly similar needs and product/service requirement is known as:

(A) market target.

(B) market segmentation.

(C) market focus.

(D) customer focus.

Ans: (B) market segmentation.

74. Prestige pricing is applied to:

(A) basic goods.

(B) convenience goods.

(C) fast-moving consumer goods.

(D) luxury goods.

Ans: (D) luxury goods.

75. Read the following statements carefully and choose the correct answer using the codes given below:

Statement – I: Sales promotion has a strong impact on consumer behaviour in rural India.

Statement – II: Rural people in India are given utmost significance to sales promotion schemes.

(A) Statement I is correct, but Statement II is incorrect.

(B) Statement I is incorrect, but Statement II is correct.

(C) Both the statements are correct.

(D) Both the statements are incorrect.

Ans: (A) Statement I is correct, but Statement II is incorrect.

76. Which of the following buying process sequence is correct?

1. Adoption.

2. Legitimisation.

3. Attitude.

4. Awareness.

Select the correct answer using the codes given below:

Codes:

(A) 4, 3, 2 and 1.

(B) 2, 3, 4 and 1.

(C) 1, 2, 3 and 4.

(D) 3, 4, 2 and 1.

Ans: (A) 4, 3, 2 and 1.

77. Match the items of List – I with the items of List – II and choose the correct answer from the codes given below:

List-I

(Marketing sub-plans)

List-II

(Factors)

(a) Base Line Research.

(b) Technical plan.

(c) Organisational plan.

(d) Contingency plan.

1. Market segmentation.

2. Branding.

3. Distribution.

4. Market Expansion.

Codes: 

(A) (a)-(2), (b)-(3), (c)-(4), (d)-(1).

(B) (a)-(1), (b)-(2), (c)-(3), (d)-(4).

(C) (a)-(1), (b)-(3), (c)-(2), (d)-(4).

(D) (a)-(1), (b)-(2), (c)-(4), (d)-(3).

Ans: (B) (a)-(1), (b)-(2), (c)-(3), (d)-(4).

78. Match the items of List – I with items of List – II and find the correct matching using the codes given below:

List-I

List-II

(a) Highest reach.  

(b) Most persuasive.

(c) Immediate effect on sale.

(d) No cost involved.

(i) Publicity.

(ii) Advertising.

(iii) Personal selling.

(iv) Sales promotion.

Codes: 

(A) (a)-(ii), (b)-(iv), (c)-(iii), (d)-(i).

(B) (a)-(ii), (b)-(iii), (c)-(iv), (d)-(i).

(C) (a)-(iii), (b)-(iv), (c)-(i), (d)-(ii).

(D) (a)-(iv), (b)-(iii), (c)-(ii), (d)-(i).

Ans: (B) (a)-(ii), (b)-(iii), (c)-(iv), (d)-(i).

79. Any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor is known as:

(A) Advertising.

(B) Sales Promotion.

(C) Public Relation.

(D) Personal Selling.

Ans: (A) Advertising.

80. Read the following statements (Ass) and (R) and choose the right answer using the codes given below:

Assertion (Ass): Consumer purchases are influenced by the internal psychological and personal characteristics and external social and environmental factors.

Reason (R): The role and status of a person does not influence buying behaviour.

Codes:

(A) Both (Ass) and (R) are incorrect.

(B) Both (Ass) and (R) are correct.

(C) (Ass) is correct but (R) is incorrect.

(D) (Ass) is incorrect but (R) is correct.

Ans: (B) Both (Ass) and (R) are correct.

81. “The marketing concept is a concept of customer orientation backed by integrated marketing aimed at generating customer satisfaction as the key to satisfying organisational goals.” Who said it?

(A) P. Kotler.

(B) L. G. Peter.

(C) Swarteze Honda.

(D) C. P. McNamara.

Ans: (A) P. Kotler.

82. How many schedules are there in Information Technology Act, 2000?

(A) 2.

(B) 3.

(C) 4.

(D) 6.

Ans: (C) 4.

83. Contingent contract means:

(A) A contract to do or not to do something, of some event, collateral to such contract, does or does not happen.

(B) Agreements which are not certain or capable of being made certain.

(C) Agreement, by which any party thereto is restricted absolutely from enforcing his rights under or in respect of any contract.

(D) All of the above.

Ans: (A) A contract to do or not to do something, of some event, collateral to such contract, does or does not happen.

84. Agreement to do an act which is an impossible act is:

(A) Void.

(B) Valid.

(C) Voidable at the option of the promisor.

(D) Voidable at the option of the promise.

Ans: (A) Void.

85. The obligations of public authorities under RTI Act, 2005 includes:

1. It shall publish the powers and duties of its officers and employees.

2. It shall publish the norms set by it for the discharge of its functions.

3. It shall not publish the statement of the categories of the documents held by it or under its control.

Choose the correct answer from the codes given below:

Codes:

(A) Only 1.

(B) Both 1 and 2.

(C) Both 2 and 3.

(D) All of the above.

Ans: (B) Both 1 and 2.

86. Match the items of List – I with the items of List – II and select correct answer using the codes given below:

List-I

List-II

(a) The Competition Act.

(b) The Companies Act.

(c) The Indian Contract Act.

(d) The Negotiable Instrument Act.

1. 2013.

2. 2005.

3. 2002.

4. 1881.

5. 1872.

Codes: 

(A) (a)-(2), (b)-(3), (c)-(4), (d)-(5).

(B) (a)-(1), (b)-(3), (c)-(4), (d)-(5).

(C) (a)-(3), (b)-(1), (c)-(4), (d)-(5).

(D) (a)-(3), (b)-(1), (c)-(5), (d)-(4).

Ans: (D) (a)-(3), (b)-(1), (c)-(5), (d)-(4).

87. Which of the following is not regulated by the Competition Act?

(A) Anti-Competitive agreements.

(B) Medical negligence.

(C) Abuse of dominant position.

(D) Predatory pricing.

Ans: (B) Medical negligence.

88. The time limit for getting a response to the RTI inquiry from the concerned Public Information Officer is generally –

(A) 30 days.

(B) 45 days.

(C) 60 days.

(D) 90 days.

Ans: (A) 30 days.

89. In India, Goods and Service Tax became effective from:

(A) 1st April, 2017.

(B) 1st July, 2017.

(C) 29th March, 2017.

(D) 1st January, 2017.

Ans: (B) 1st July, 2017.

90. Which of the following is beyond the powers of the Board of Directors?

(A) To issue debentures.

(B) To make loans.

(C) To remit, or give time for the repayment of any debt due from a Director.

(D) To issue prospectus.

Ans: (C) To remit, or give time for the repayment of any debt due from a Director.

91. Which organisation attends to cyber squatting related cases?

(A) ITO.

(B) ITA.

(C) WIPO.

(D) PCT.

Ans: (C) WIPO.

92. Read the following statements carefully and choose the correct answer using the codes given below:

Statement I: Direct tax is the tax paid to the government directly by the assessee.

Statement II: An indirect tax is a tax collected by an intermediary from the person who bears the ultimate economic burden of the tax.

Codes:

(A) Both the statements are true.

(B) Both the statements are false.

(C) Statement I is true, while Statement II is false.

(D) Statement I is false, while Statement II is true.

Ans: (A) Both the statements are true.

93. Match the Assertion (Ass) and Reason (R) and find the correct answer using codes given below:

Assertion (Ass): Tax evasion is undertaken by employing unfair means.

Reason (R): Payment of tax is avoided through illegal means or fraud for tax evasion.

Codes:

(A) Both (Ass) and (R) are true and (R) is correct explanation of (Ass).

(B) Both (Ass) and (R) are true but (R) is not the correct explanation of (Ass).

(C) (Ass) is true but (R) is false.

(D) (Ass) is false and (R) is true.

Ans: (A) Both (Ass) and (R) are true and (R) is correct explanation of (Ass).

94. For the Assessment year 2019-2020, deduction under section 80G is available without any limit, but at the rate of 50% on:

(A) Prime Minister’s National Relief Fund.

(B) National Foundation for Communal Harmony.

(C) Jawaharlal Nehru Memorial Fund.

(D) Chief Minister Relief Fund.

Ans: (C) Jawaharlal Nehru Memorial Fund.

95. Reduction of tax by exploiting the loopholes in the taxation laws is known as:

(A) Tax evasion.

(B) Tax avoidance.

(C) Tax planning.

(D) All of the above.

Ans: (B) Tax avoidance.

96. Examine whether the following statements are ‘True’ or ‘False’ and select the correct answer using the codes given below:

I. An individual who has stayed in India for 160 days in the previous year is said to be resident in India.

II. Residential status of an assessee may differ from year to year.

III. Different residential status for different sources of income is permissible.

Codes:

(A) I – True, II – False, III – True.

(B) I – False, II – True, III – False.

(C) I – False, II – False, III – False.

(D) I – True, II – True, III – False.

Ans: (B) I – False, II – True, III – False.

97. Which of the following investment is not entitled for deduction under section 80C of the Income Tax Act?

(A) Contribution to National Pension Scheme.

(B) Repayment towards House Building Loan Principal amount.

(C) Interest Payment on House Building Loan.

(D) All of the above.

Ans: (C) Interest Payment on House Building Loan.

98. Income tax is an annual tax on _______ and is payable at the tax rates fixed by _______. (Fill in the blanks)

(A) Profit; Government.

(B) Income; Income Tax Act.

(C) Income; Annual Finance Act.

(D) None of the above.

Ans: (C) Income; Annual Finance Act.

99. Read the following statement carefully and choose the correct answer using the codes given below:

Where an urban agricultural land owned by an individual, continuously used by him for agricultural purposes for a period of two years prior to date of transfer, is compulsorily acquired under law and the compensation is fixed by the State Government, the resultant capital gain is exempted.

Codes:

(A) The statement is true.

(B) The statement is false.

(C) Cannot be said with certainty.

(D) Is decided by the Assessing officer.

Ans: (B) The statement is false.

100. Dividend paid by an Indian Company is:

(A) Taxable in India in the hands of recipient.

(B) Exempted from tax in the hands of recipient.

(C) Taxable in the hands of the company and exempted in hands of the recipient.

(D) None of the above.

Ans: (C) Taxable in the hands of the company and exempted in hands of the recipient.

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