Daily Updates Mock Test 24
MOCK TEST 24
SYLLABUS : ECONOMY , POLITY
TIME : 25 MINUTES FULL MARKS : 50*5 =250
EACH QUESTION CARRIES 5 MARKS , - VE MARKING = -1/ WRONG ANSWER
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- 1.
How many banks were nationalized in 1969?
- A.
16
- B.
14
- C.
15
- D.
20
Correct Answer
B. 14 -
- 2.
In India, the first bank of limited liability manages by Indians and founded in 1881 wa
- A.
Hindustan Commercial Bank
- B.
Oudh Commercial Bank
- C.
Punjab National Bank
- D.
Punjab and Sind Bank
Correct Answer
B. Oudh Commercial Bank -
- 3.
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 Deflation
Correct Answer
A. Wholesale Price Index number -
- 4.
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
Correct Answer
D. Excise duties -
- 5.
The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of
- A.
15 to 20 percent
- B.
20 to 25 percent
- C.
25 to 30 percent
- D.
30 to 35 percent
Correct Answer
B. 20 to 25 percent -
- 6.
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
Correct Answer
D. Payment made by the government to business enterprises, without buying any goods and services -
- 7.
National expenditure includes
- A.
Consumption expenditure
- B.
Investment expenditure
- C.
Government expenditure
- D.
All of the above
Correct Answer
D. All of the above -
- 8.
Resurgent India Bonds were issued in US dollar, Pound Sterling and
- A.
Japanese Yen
- B.
Deutsche Mark
- C.
Euro
- D.
French Franc
Correct Answer
B. Deutsche Mark -
- 9.
The apex body for formulating plans and coordinating research work in agriculture and allied fields is
- A.
State Trading Corporation
- B.
Regional Rural Banks
- C.
National Bank for Agriculture and Rural Development (NABARD)
- D.
Indian Council of Agricultural Research
Correct Answer
D. Indian Council of Agricultural Research -
- 10.
Which of the following is not an undertaking under the administrative control of Ministry of Railways?
- A.
Container Corporation of India Limited
- B.
Konkan Railway Corporation Limited
- C.
Indian Railways Construction Company Limited
- D.
Diesel Locomotive Works, Varanasi
Correct Answer
C. Indian Railways Construction Company Limited -
- 11.
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
Correct Answer
C. Offer commercial banks more credit in the open market -
- 12.
Redistribution polices geared to reduce economic inequalities include
- A.
Progressive tax policies
- B.
Land reforms
- C.
Rural development policies
- D.
All the above
Correct Answer
D. All the above -
- 13.
Short-term finance is usually for a period ranging up to
- A.
5 months
- B.
10 months
- C.
12 months
- D.
15 months
Correct Answer
C. 12 months -
- 14.
In India, which one among the following formulates the fiscal policy?
- A.
Planning Commission
- B.
Ministry of Finance
- C.
Finance Commission
- D.
The Reserve Bank of India
Correct Answer
B. Ministry of Finance -
- 15.
The budget deficit means
- A.
The excess of total expenditure, including loans, net of lending over revenue receipts
- B.
Difference between revenue receipts and revenue expenditure
- C.
Difference between all receipts and all the expenditure
- D.
Fiscal deficit less interest payments
Correct Answer
C. Difference between all receipts and all the expenditure -
- 16.
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?
- A.
Rs 1000
- B.
Rs 500
- C.
Rs 400
- D.
Rs 300
Correct Answer
D. Rs 300 -
- 17.
Paper currency first started in India in
- A.
1861
- B.
1542
- C.
1601
- D.
1880
Correct Answer
A. 1861 -
- 18.
The ARDC is now a branch of the
- A.
RBI
- B.
NABARD
- C.
IDBI
- D.
SDBI
Correct Answer
B. NABARD -
- 19.
Devaluation of currency leads to
- A.
Fall in domestic prices
- B.
Increase in domestic prices
- C.
No impact on domestic prices
- D.
Erratic fluctuations in domestic prices
Correct Answer
B. Increase in domestic prices -
- 20.
Since 1983, the RBI's responsibility with respect to regional rural banks was transferred to
- A.
ARDC
- B.
SBI
- C.
NABARD
- D.
PACs
Correct Answer
C. NABARD -
- 21.
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
Correct Answer
C. Public expenditure in excess of public revenue -
- 22.
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
Correct Answer
D. Change in quantity of money - change in rate of interest - change in investment - change in employment and output - change in price level -
- 23.
Foreign Direct Investment ceilings in the telecom sector have been raised from 74 percent to
- A.
80 percent
- B.
83 percent
- C.
90 percent
- D.
100 percent
Correct Answer
D. 100 percent -
- 24.
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
Correct Answer
A. Wage Court -
- 25.
Legislature of the Union which is called ‘Parliament’ consists of :
- A.
Rajya Sabha
- B.
Lok Sabha
- C.
Rajya Sabha and Lok Sabha
- D.
President, Rajya Sabha and Lok Sabha
Correct Answer
D. President, Rajya Sabha and Lok Sabha -
- 26.
Which of the following is incorrect about the Rajya Sabha ?
- A.
The Rajya Sabha consists of 12 members nominated by the Prime Minister.
- B.
One-third of its members retire every second year.
- C.
The Rajya Sabha is not subject to dissolution.
- D.
The Vice President is the ex-officio chairman of the Rajya Sabha.
Correct Answer
A. The Rajya Sabha consists of 12 members nominated by the Prime Minister. -
- 27.
There is a prescribed procedure for the amendment of the provisions of the Indian Constitution. This feature has been borrowed from the Constitution of :
- A.
Weimer Republic of Germany
- B.
South Africa
- C.
Ireland
- D.
Canada
Correct Answer
B. South Africa -
- 28.
Which of the following parts/ provisions of the Indian Constitution cannot be amended :
- A.
Preamble to the Constitution
- B.
Directive Principles of State Policy
- C.
Fundamental Rights
- D.
Judicial Review
Correct Answer
D. Judicial Review -
- 29.
Which of the following is not one of the official languages mentioned in the VIIIth Schedule?
- A.
Persian
- B.
Sanskrit
- C.
Kashmiri
- D.
Nepali
Correct Answer
A. Persian -
- 30.
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:
- A.
Nehru Report of 1928
- B.
Government of India Act, 1919
- C.
Government of India Act, 1935
- D.
Indian Independence Act, 1947
Correct Answer
C. Government of India Act, 1935 -
- 31.
Which of the following statements is incorrect regarding Prime Minister’s Office (PMO)?
- A.
It is a statutory body.
- B.
It is a staff agency to the Prime Minister.
- C.
It has been given the status of a department.
- D.
It has no attached and subordinate office under it.
Correct Answer
A. It is a statutory body. -
- 32.
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 ?
- A.
Ordinary bill
- B.
Money bill
- C.
Constitution Amendment Bill
- D.
Both [B] and [C]
Correct Answer
D. Both [B] and [C] -
- 33.
Which of the following High Courts has the largest jurisdiction in the country?
- A.
Bombay High Court
- B.
Guwahati High Court
- C.
Allahabad High Court
- D.
Calcutta High Court
Correct Answer
B. Guwahati High Court -
- 34.
Which of the following writs literally means ‘We Command’ ?
- A.
Habeas Corpus
- B.
Mandamus
- C.
Quo Warranto
- D.
Certiorari
Correct Answer
B. Mandamus -
- 35.
President can proclaim National Emergency under Article 352 in the entire country or in any part of it, on the grounds of :
- A.
External Aggression
- B.
Armed Rebellion
- C.
Internal Disturbance
- D.
Both [A] and [B]
Correct Answer
D. Both [A] and [B] -
- 36.
Which of the following statement(s) is/are correct regarding the Planning Commission of India?
- A.
It is neither a constitutional nor a statutory body.
- B.
The Prime Minister is the chairman of the Planning Commission.
- C.
It is only an advisory body.
- D.
All of the above.
Correct Answer
D. All of the above. -
- 37.
Article 123 of the Indian Constitution provides for:
- A.
The Ordinance Making power of the President
- B.
Advisory Jurisdiction of the Supreme Court
- C.
Special Status of Jammu and Kashmir
- D.
An Election Commission to hold free and fair elections in the country.
Correct Answer
A. The Ordinance Making power of the President -
- 38.
The Election Commission of India is not concerned with the elections of /to the :
- A.
President
- B.
Vice President
- C.
Panchayats and Municipalities in the State
- D.
All of the above
Correct Answer
C. Panchayats and Municipalities in the State -
- 39.
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 :
- A.
Ex-Post facto law
- B.
Double jeopardy
- C.
Prohibition against self-incrimination
- D.
Right to be produced before a magistrate within 24 hours
Correct Answer
D. Right to be produced before a magistrate within 24 hours -
- 40.
The jurisdiction covering the Andaman and Nicobar islands falls under the supervision of __:
- A.
A circuit bench of the Bombay High Court at Port Blair
- B.
A circuit bench of the Madras High Court at Port Blair
- C.
A circuit bench of the Calcutta High Court at Port Blair
- D.
A circuit bench of Supreme Court of India at Port Blair
Correct Answer
C. A circuit bench of the Calcutta High Court at Port Blair -
- 41.
Jurisdiction of which among the following high courts covers the Union Territory of Lakshadweep?
- A.
Tamil Nadu High Court
- B.
Kerala High Court
- C.
Calcutta High Court
- D.
Bombay High Court
Correct Answer
B. Kerala High Court -
- 42.
The number of judges can be altered in the Supreme Court by __:
- A.
Presidential Order
- B.
Parliament by Law
- C.
Supreme Court by Notification
- D.
Central Government by notification
Correct Answer
B. Parliament by Law -
- 43.
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?
- A.
10 Years
- B.
12 Years
- C.
15 Years
- D.
20 Years
Correct Answer
A. 10 Years -
- 44.
Via which among the following amendments of the Constitution of India, Delhi was designated as National Capital Territory (NCT)?
- A.
63rd Amendment Act
- B.
69th Amendment Act
- C.
74th Amendment Act
- D.
76th Amendment Act
Correct Answer
B. 69th Amendment Act -
- 45.
In India, a three tier Panchayat is envisaged for states which have a population above__:
- A.
15 Lakhs
- B.
20 Lakhs
- C.
25 Lakhs
- D.
30 Lakhs
Correct Answer
B. 20 Lakhs -
- 46.
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
- A.
Only 1 & 2
- B.
Only 2 & 3
- C.
Only 3
- D.
1, 2 & 3
Correct Answer
A. Only 1 & 2 - 47.
Who among the following can dismiss Governor of a state from his office?
- A.
State Legislative Assembly
- B.
Parliament
- C.
President
- D.
None of them
Correct Answer
C. President -
- 48.
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?
- A.
1 and 2
- B.
2 and 3
- C.
3 and 5
- D.
4 and 5
Correct Answer
C. 3 and 5 -
- 49.
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?
- A.
1 and 4
- B.
1, 2 and 4
- C.
2, 3 and 4
- D.
1, 2, 3 and 4
Correct Answer
D. 1, 2, 3 and 4 -
- 50.
Which of the following Statements is correct regarding the Election Commission of India?
- A.
It is an independent and statutory body.
- B.
It consists of members having a tenure of six years.v
- C.
It acts as a court for arbitration of disputes related to granting of recognition to political parties.
- D.
Being an all-India body, it is also concerned with the elections with the elections to Gram Panchayats and State Muncipalities.
Correct Answer
B. It consists of members having a tenure of six years.v -
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