MARCH 2023 EVENING SHIFT

#1. Which of the following is the right description of the “Duty Free Import Authorization (DFIA)” Scheme?

Duty free imports of inputs required for export production subject to certain export obligations, as stipulated in the foreign trade policy.

Exemption in respect of custom duty, additional duty, education cess and anti-dumping or safeguard duties for inputs used in exports.

Import of capital goods at concessional rate of duty subject to an appropriate export obligation accepted by the importer.

Grant of credit on post-export basis as specified percentage of F.o.B. value of exports made in a freely convertible currency.

#2. An Indian company receiving investment from outside India for issuing shares/convertible debentures/preference shares under the FDI scheme should report the details of the inflow to the RBI. What is the time limit for reporting these details to RBI?

Within 10 days from the date of receipt.

Within 15 days from the date of receipt.

Within 30 days from the date of receipt.

Within 45 days from the date of receipt.

#3. Which one of the following theories of attitude change states that changes in opinions can result into an attitude change?

Balance theory

Cognitive consistency theory

Reinforcement theory

Cognitive dissonance theory

#4. According to Porter's Diamond, which of the following is NOT a factor of national competitive advantage?

Relating and supporting industry

Firm strategy, structure and rivalry

Bargaining power of buyers

Demand conditions

#5. X & Y are partners sharing profits and losses in the ratio of 3:2. They admit Z as a new partner with 1/5 share in the profits. Calculate the new profit-sharing ratio of the partners.

12:8:5

12:8:6

12:7:6

12:3:7

#6. At the break-even point, contribution is equal to:

Variable cost

Profit

Fixed cost

Sales

#7. Which one of the following is NOT true?

Capital expenditure results in extra capacity

Capital expenditure results in a benefit which will last for a long time.

Capital expenditure results in the acquisition of a permanent asset.

Heavy expenditure on advertisement campaigns in order to introduce a new product in the market.

#8. When the negative income effect overwhelms the positive substitution effects so much that the demand curve is positively sloped, the commodity in consumption is described as:

Normal good

Inferior good

Giffen good

Luxury good

#9. In the extreme case of perfect price discrimination, the entire consumer surplus in the market goes:

to consumers.

to monopoly producer.

as deadweight loss.

to capital.

#10. A situation in which economic actors interacting with one another, each choose their best strategy, given the strategies that all the actors have chosen, is called:

Nash equilibrium

Prisoner’s dilemma

Dominant strategy

Predatory strategy

#11. Which one of the following institutions is NOT a part of the World Bank Group?

International Bank for Reconstruction and Development (IBRD)

International Development Association (IDA)

Multilateral Investment Guarantee Agency (MIGA)

The Bank for International Settlements (BIS)

#12. According to the traditional approach, what is the effect of increase in degree of leverage on the valuation of a firm?

Increases

Decreases

Remains unaffected

Increases first and then decreases

#13. An economic enterprise requires 90,000 units of certain item annually. The cost per unit is ₹3. The cost per purchase order is ₹300 and the inventory carrying cost is ₹6 per unit per year. What is EOQ?

3000 units

1500 units

6000 units

45000 units

#14. Dell Ltd. has Rs. 100 preference shares redeemable at a premium of 10% with 15 years maturity. The coupon rate is 12%, the flotation cost is 5% and the sale price is Rs. 95. Calculate the cost of preference shares and select the correct option.

12%

12.67%

13%

13.33%

#15. Which of the following is used to assess the relationship between two ordinal variables?

Spearman’s rho

Phi

Cramer’s V

Chi-square

#16. A “Spurious” relationship between two variables is expressed as:

An apparent relationship that is so curious that it demands further attention.

A relationship that appears to be true because each variable is related to a third one.

One that is so ridiculously illogical that it cannot be possibly true.

One that produces a perfect negative correlation on a scatter diagram.

#17. Which one of the following motives characterizes dominant organizational climate of clubs?

Extension

Affiliation

Dependency

Achievement

#18. Which one of the following is the description of Ego Regression Mechanism?

Returning to a previous stage of psyche development.

Avoiding unacceptable emotions by focusing on the intellectual aspects.

Taking out impulses on a less threatening target.

Pulling into the unconscious situation.

#19. Which one of the following is NOT an advantage of organization structure by product in a manufacturing company?

Places attention and effort on product line.

Requires less persons with general managerial abilities.

Improves coordination of functional activities.

Permits growth and diversity of products.

#20. Which one of the following is NOT an assumption under the McGregor’s Theory Y?

The degree of commitment to objectives is in proportion to the size of the rewards associated with their achievement.

Under the conditions of modern industrial life, the intellectual potentialities of the average human being are only partially utilised.

External control and the threat of punishment are the only means for producing effort towards organizational objectives.

Average human beings learn, under proper conditions, not only to accept responsibility but also to seek it.

#21. The minimum capital requirement for a life insurance company in India is:

Rs. 300 crores

Rs. 200 crores

Rs. 500 crores

Rs. 100 crores

#22. Universal banks that function as investment banks in India are regulated by:

SEBI

RBI

Ministry of Finance

IRDA

#23. When the RBI desires to restrict expansion of credit, it:

increases the bank rate

decreases the bank rate

decreases the CRR for banks

decreases the SLR for banks

#24. Which of the following refers to default-risk intermediation?

Borrowing short-term funds from savers and making long-term loans to borrowers.

Making loans to risky borrowers by attracting savings from the savers who are risk-averse.

Using information gathering skills of the intermediary.

Pooling small amounts of savings from individuals to give loans to others.

#25. The knowledge and courtesy of employees and their ability to convey trust and confidence indicates which of the following?

Responsiveness

Assurance

Empathy

Reliability

#26. Which of the following is NOT true about rural markets?

Growth opportunities in rural markets are driving companies to them.

Information and communication technology are the drivers of change in rural markets.

Socio-economic changes are yet to happen to rural markets.

Rural consumers shop for grocery, apparels, consumer durables of agri-inputs in nearby urban shops.

#27. “Manufacturers of razors and cameras often price these products low and set high mark ups on razor blades and films.” As per the above statement, manufacturers of razors and cameras are using which one of the following?

Captive-product pricing

Two-part pricing

Product-bundling pricing

By-product pricing

#28. A Vertical Marketing System (VMS) combining successive stages of production and distribution under single ownership, is known as:

Corporate VMS.

Administered VMS.

Contractual VMS.

Conventional VMS.

#29. The act of throwing on board cargo and other things from the ship to safeguard it from total loss in times of peril is called:

Jettisoning.

Moral hazards.

Consequential peril.

Reverse indemnity.

#30. The right to ‘stoppage in transit’ exercised by an unpaid seller is to:

recover price

retain possession

regain possession

recover damages

#31. Which one among the following is the duty of the Central Assistant Public Information Officer or a State Assistant Public Information Officer?

To receive the applications for information or appeals under the RTI Act for forwarding the same forthwith to the CPIO/SPIO.

To receive the fee for the RTI applications.

To assist the CPIO/SPIO in furnishing the reply to the applicant.

To ensure that RTI applications are replied within the prescribed period.

#32. The relationship between a bank and its customers is basically that of:

Debtor and Creditor

Trustee and Beneficiary

Principal and Agent

Drawer and Payee

#33. Provisions of the Vivad se Vishwas Act, 2020 does not apply in respect of tax arrears relating to which one of the following?

an assessment year in respect of which prosecution has been instituted on or before the date of filing of declaration.

any income from agricultural land in India.

Section 10(3) dealing with tax deductions.

assessments under Section 80 GI of the Act.

#34. Under Section 8OTTB of the Income Tax Act, which amount of benefits is available to senior citizens on account of interest income from deposits with banks or post-office or cooperative banks?

Rs. 50,000

Rs. 1,00,000

Rs. 75,000

Rs. 1,50,000

#35. Provisional Input Tax Credit can be utilised against:

Any tax liability

Self-assessed tax liability

Differential income tax gains

Fine

#36. Penalty for late filing of the Income Tax Return for individuals under the Income Tax Act, 1961 is up to a maximum of amount of:

Rs 10,000

Rs 25,00,000

10% of Gross Total Income

2% of Tax liability