Economics Mock Test series - 2

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The term 'Paper Gold' means

Deficit financing

Special accommodation facility of the world bank

Currencies still on Gold standard

Special Drawing Rights(SDR) of the IMF

If the tax rate increases with the higher level of income, it shall be called

Regressive Tax

Lumpsum Tax

Progressive Tax

Proportional Tax

From which year was the FEMA promulgated?

2002

1999

2003

2000

Which accounts are known as Demat Accounts?

Accounts which are opened to facilitate repayment of a loan taken from the bank. No other business can be conducted from there.

Accounts in which shares of various companies are traded in electronic form

Accounts which are Zero Balance Accounts

Accounts which are operated through internet banking facility.

Economic Planning is in

Concurrent List

not any specific list

State List

Union List

The largest public sector commercial bank of India is the

Reserve Bank of India

Union Bank of India

Bank of India

State Bank of India

What is Repo Rate?

It is a rate at which RBI allows small loans in the market.

It is a rate at which RBI sells Government securities to banks.

It is a rate at which is offered by banks to their most valued customers or prime customers.

It is a rate at which RBI buys Government securities from banks.

Fiscal deficit is

total payments less total receipts

total expenditure less total receipts excluding borrowing

total payments less capital receipts

total income less government borrowing

The recommendations of Kelkar Task Force is associated with

Foreign Investments

Business

Banking

Taxes

10.

Which of the following policies/agreements/accords is closely associated with the reform in Banking Industry?

Basel Accord

Look East Policy

Geneva Framework

Doha Accord

11.

Which of the following indicates a mechanism used by commercial banks for providing credit to the Government?

Debt Service Obligation

Cash Credit Ratio

Liquidity Adjustment Facility

Statutory Liquidity Ratio

12.

The stock market index of London Stock Market is referred as

Sensex

NIFTY

Bullish

FTSE

13.

What is Hot money?

This is the fund which is dumped into a country to get the advantage of a favourable interest rate and hence brings higher returns.

This is the fund which is pushed into market through Hawala or some other such illegal method and sometimes referred to also as Black Money.

This is the fund which is provided by a bank in US Dollar at very short notice and at a very high rate of interest and for a longer period of repayment.

Both A and B

14.

Bad loans in banking terminology are generally known as

BPO

Prime Loans

NPA

Prime Asset

15.

Economic growth is usually coupled with

Inflation

Stagflation

Deflation

Hyper Inflation

16.

Which is not called a Debt instrument as referred in financial transactions?

Bonds

Stocks

Certificate of Deposits

Commercial Papers

17.

Devaluation of currency leads to

a expansion of export trade

contraction of import trade

all of the above

expansion of import substitution

18.

Open Market Operations of Reserve Bank of India refers to

None of these

Trading in securities

Auctioning of Foreign Exchange

Transaction in Gold

19.

Green Banking means

Development of forestry by banks

None of the above

Financing of environmental friendly projects by banks

Financing of irrigation projects by banks

20.

What is the full form of SEZ?

Service and Economic Zone

Special Economic Zone

Small Economic Zone

Special Enforcement Zone

21.

The term 'Micro Economics' and 'Macro Economics' were coined by

Ragner Frisch

Ragner Nurkse

JM Keynes

Alfred Marshall

22.

Long term funds in the capital market can be raised either by borrowing from certain institutions or through

taking loan from Government

issue of securities

issue of note

taking loan from foreign institutions

23.

Insurance Service provided by various banks is commonly known as

Portfolio Management

Merchant Banking

Micro Finance

Investment Banking

24.

What is an Indian Depository Receipt(IDR)?

A deposit account with a public sector bank.

An instrument in the form of deposit receipt issued by Indian depositories.

An instrument in the form of depository receipt created by an Indian depository against underlying equity shares of the issuing company.

A depository account with any of the Depositories in India.

25.

Fiscal Responsibility and Budget Management Act concerns

Revenue deficit only

Neither fiscal deficit nor revenue deficit

Both fiscal deficit and revenue deficit

Fiscal deficit only

Economics Mock Test series - 2

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