DAILY UPDATES MOCK TEST 24

1.

Redistribution polices geared to reduce economic inequalities include

Progressive tax policies

Land reforms

Rural development policies

All the above

2. Short-term finance is usually for a period ranging up to

5 months

10 months

12 months

15 months

3. The jurisdiction covering the Andaman and Nicobar islands falls under the supervision of __:

A circuit bench of the Bombay High Court at Port Blair

A circuit bench of the Madras High Court at Port Blair

A circuit bench of the Calcutta High Court at Port Blair

A circuit bench of Supreme Court of India at Port Blair

4. How long a person should have practiced in a High Court to be eligible to be appointed as a Judge of Supreme Court of India?

10 Years

12 Years

15 Years

20 Years

5. Via which among the following amendments of the Constitution of India, Delhi was designated as National Capital Territory (NCT)?

63rd Amendment Act

69th Amendment Act

74th Amendment Act

76th Amendment Act

6. Who among the following can dismiss Governor of a state from his office?

State Legislative Assembly

Parliament

President

None of them

7. Consider the following official languages of India: 1.Sindhi and Nepali 2.Konkani and Manipuri 3.Bodo and Santhali 4.Santhali and Konkani 5.Dogri and Maithili Which of the above languages were added to the 8th Schedule by the 92nd Amendment Act of 2003?

1 and 2

2 and 3

3 and 5

4 and 5

8. How many banks were nationalized in 1969?

16

14

15

20

9.

In India, the first bank of limited liability manages by Indians and founded in 1881 wa

Hindustan Commercial Bank

Oudh Commercial Bank

Punjab National Bank

Punjab and Sind Bank

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

ARDC

SBI

NABARD

PACs

11. The annual yield from which of the following Union Government taxes is the highest?

Custom duties

Corporation tax and income tax

Inheritance tax, wealth tax, interest tax and gift tax

Excise duties

12. The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of

15 to 20 percent

20 to 25 percent

25 to 30 percent

30 to 35 percent

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

14. National expenditure includes

Consumption expenditure

Investment expenditure

Government expenditure

All of the above

15. Legislature of the Union which is called 'Parliament' consists of :

Rajya Sabha

Lok Sabha

Rajya Sabha and Lok Sabha

President, Rajya Sabha and Lok Sabha

16.

If the RBI adopts an expansionist open market operations policy, this means that it will

Buy securities from non-government holders

Sell securities in the open market

Offer commercial banks more credit in the open market

Openly announce to the market that it intends to expand credit

17. Which of the following is incorrect about the Rajya Sabha ?

The Rajya Sabha consists of 12 members nominated by the Prime Minister.

One-third of its members retire every second year.

The Rajya Sabha is not subject to dissolution.

The Vice President is the ex-officio chairman of the Rajya Sabha.

18. There is a prescribed procedure for the amendment of the provisions of the Indian Constitution. This feature has been borrowed from the Constitution of :

Weimer Republic of Germany

South Africa

Ireland

Canada

19. Which of the following is not one of the official languages mentioned in the VIIIth Schedule?

Persian

Sanskrit

Kashmiri

Nepali

20. Many key features of the constitution such as the federal structure of government, provincial autonomy, a bicameral central legislature and the principle of separation of powers, are directly taken from:

Nehru Report of 1928

Government of India Act, 1919

Government of India Act, 1935

Indian Independence Act, 1947

21. President can proclaim National Emergency under Article 352 in the entire country or in any part of it, on the grounds of :

External Aggression

Armed Rebellion

Internal Disturbance

Both [A] and [B]

22. Which of the following statement(s) is/are correct regarding the Planning Commission of India?

It is neither a constitutional nor a statutory body.

The Prime Minister is the chairman of the Planning Commission.

It is only an advisory body.

All of the above.

23. Article 123 of the Indian Constitution provides for:

The Ordinance Making power of the President

Advisory Jurisdiction of the Supreme Court

Special Status of Jammu and Kashmir

An Election Commission to hold free and fair elections in the country.

24. The Election Commission of India is not concerned with the elections of /to the :

President

Vice President

Panchayats and Municipalities in the State

All of the above

25. Article 20 of the Indian Constitution is an important fundamental right as it provides protection in respect of conviction for offences. The safeguard which is not provided to the persons accused of crime under Article 20 is :

Ex-Post facto law

Double jeopardy

Prohibition against self-incrimination

Right to be produced before a magistrate within 24 hours

26. Jurisdiction of which among the following high courts covers the Union Territory of Lakshadweep?

Tamil Nadu High Court

Kerala High Court

Calcutta High Court

Bombay High Court

27. The number of judges can be altered in the Supreme Court by __:

Presidential Order

Parliament by Law

Supreme Court by Notification

Central Government by notification

28. Devaluation of currency leads to

Fall in domestic prices

Increase in domestic prices

No impact on domestic prices

Erratic fluctuations in domestic prices

29. In India, which one among the following formulates the fiscal policy?

Planning Commission

Ministry of Finance

Finance Commission

The Reserve Bank of India

30. In India, a three tier Panchayat is envisaged for states which have a population above__:

15 Lakhs

20 Lakhs

25 Lakhs

30 Lakhs

31. With reference to the executive power in a state in India, which among the following statements is / are correct?

Executive power of the state is vested in Governor
Real executive authority in a state is Council of Ministers
All executive decisions in a state are taken in the name of Chief Minister

Choose the correct option from the codes given below:

Only 1 & 2

Only 2 & 3

Only 3

1, 2 & 3

32. Consider the following Indian Religious Communities: 1.Sikhs 2.Buddhists 3.Jains 4.Parsis Which among the above have been conferred the 'minority' status by the Government of India?

1 and 4

1, 2 and 4

2, 3 and 4

1, 2, 3 and 4

33. The budget deficit means

The excess of total expenditure, including loans, net of lending over revenue receipts

Difference between revenue receipts and revenue expenditure

Difference between all receipts and all the expenditure

Fiscal deficit less interest payments

34. Deficit financing implies

Printing new currency notes

Replacing new currency with worn out currency

Public expenditure in excess of public revenue

Public revenue in excess of public expenditure

35. Subsidies mean

Payment by government for purchase of goods and services

Payment made by business enterprises to factors of production

Payment made by companies to shareholders

Payment made by the government to business enterprises, without buying any goods and services

36. Paper currency first started in India in

1861

1542

1601

1880

37. Foreign Direct Investment ceilings in the telecom sector have been raised from 74 percent to

80 percent

83 percent

90 percent

100 percent

38.

The apex body for formulating plans and coordinating research work in agriculture and allied fields is

State Trading Corporation

Regional Rural Banks

National Bank for Agriculture and Rural Development (NABARD)

Indian Council of Agricultural Research

39. Which of the following parts/ provisions of the Indian Constitution cannot be amended :

Preamble to the Constitution

Directive Principles of State Policy

Fundamental Rights

Judicial Review

40. The ARDC is now a branch of the

RBI

NABARD

IDBI

SDBI

41. For which of the following bills, there is no constitutional provision for a joint sitting of both the houses of the Parliament to resolve a deadlock ?

Ordinary bill

Money bill

Constitution Amendment Bill

Both [B] and [C]

42. Which of the following High Courts has the largest jurisdiction in the country?

Bombay High Court

Guwahati High Court

Allahabad High Court

Calcutta High Court

43. Which of the following writs literally means 'We Command' ?

Habeas Corpus

Mandamus

Quo Warranto

Certiorari

44.

In utensils worth Rs 1000 are produced with copper worth Rs 500, wages paid are Rs 100, other material purchased is worth Rs 100 and depreciation of machinery is zero, then what is the value added in process?

Rs 1000

Rs 500

Rs 400

Rs 300