Practise Bits

  1.     The World Trade Organization (WTO) deals with the global rules of trade between nations. Who is the Director General of WTO?
    a) Roberto Azevedo b) Christine Legarde
c) Raghuram Rajan  d) Oliver Ralph Kahn
e) None of the above
2.     RBI on October, 7th 2013, has reduced Marginal Standing Facility(MSF) rate from 9.5% to 9% to improve liquidity in the system. What is MSF?
a) MSF rate is the rate at which banks lodge funds overnight with RBI buying approved government securities.
    b) MSF rate is the rate at which banks borrow funds overnight from other banks against approved government securities.
c) MSF rate is the rate at which banks borrow funds overnight from RBI against approved government securities.
    d) MSF rate is the minimum rate at which banks lend to the borrowers.
    e) None of the above
3. Between 2007-08 to 2012-13,the value of Card spending rose to Rs.1.97 Lakh Crores. A raise in Cards spending indicates?
    a) Transformation to 'Cashless Economy'
b) Low inflation     c) Raising incomes
d) Falling prices    e) None of the above
4. What is NOT true with regard to 'Carbon Credit'?
    a) It is a tradable certificate or permit.
b) It represents the right of an Industry to emit certain quantity of Carbon Dioxide.
c) Carbon Credits mechanism was formalized in Kyoto Protocol.
d) Carbon Credits are currently traded on 5 exchanges across the globe.
e) None of the above.
5.     Arundhati Bhattacharya is in news recently. She is going to be?
    a) 1st woman Deputy Governor of RBI
b) 1st woman Chair Person of SBI
c) 1st woman Deputy Chairman of Planning Commission
d)1st woman Finance Secretary to Govt. of India
e) None of the above
6.    National Spot Exchange (NSEL) is the news for defaulting payments to investors. Who is the founder promoter of FT?
    a) Jignesh Shah    b) Harshad Mehta
c) Ketan Parekh    d) A K Telgi
e) None of the above
7.     Find the 'odd man out' of the following?
a) Walmart    b) Tesco
c) Carrefour    d) Big Bazar    e) Ikea
8.     One of the Primary functions of IMF is to provide short term capital assistance to member countries through SDR (Special Drawing Rights). What is NOT true about SDR?
    a) Currency code of SDR is XDR
b) SDR is the Unit of Account of IMF
c) Asian Development Bank (ADB) also uses SDR as its Currency
d) SDR can be exchanged only for US Dollar, British Pound, Euro & Japanese Yen
e) None of the above
9.     Main functions of Money?
a) Medium of Exchange   b) Unit of Account
c) Store of Value  d) Only 'a' and 'b' of the above
e) 'a', 'b' & 'c' of the above
10. M/s XYZ company has got an order to supply Machinery to M/s ABC Co of Nigeria. Who has to get a Letter of Credit issued from a Bank?
    a) M/s ABC since they are the importers
b) M/s XYZ since they are the exporters
c) Both since they are the parties to the agreement
d) RBI since they regulate the Foreign Trade in India
e) None of the above
11. What is 'Packing Credit'?
a) Finance extended to Packing materials industry
b) Finance extended to an Importer to pack the goods imported
c) Finance extended to Warehouses for keeping the goods packages
d) Finance extended to an Exporter to meet the costs of buying and/ or making products to be exported
e) None of the above
12. What is NOT true with regard to Currency Chests in India?
    a) They are managed by different banks on behalf of RBI
b) Deposits in Currency Chests are taken into account for calculation of CRR(Cash Reserve Ratio)
c) Standard Chartered Bank a Foreign Bank also maintains Currency Chest
d) Coins are also stored in Currency Chests
e) None of the above
13.RecentlyParliament has pass-ed Companies Act 2013. What is NOT true with regard to some of the features of the Act?
    a) An Individual can set up \"One person Private Ltd Company\"
b) An independent Director can hold 3 consecutive terms of 3 years
c) Listed Companies must have at least 1/3rd independent Directors
d) Prescribed Companies must have at least 1 woman Director on the Board
e) A Private Ltd Company can have a maximum of 200 members
14. What is 'Net Interest Margin' of a Bank?
a) Margin of Interest earned on Trading in Govt Securities
b) Difference between the Base Interest Rate and the Average Lending Rate
c) Difference between the interest income and the amount of interest paid out
d) Difference between Interest on Term Loans and Interest on Cash Credits
e) None of the above
15. What is the World's largest functioning Oil Refinery?
a) Reliance Refinery in Jamnagar, Gujarat
b) IOC Refinery in Digboi, Assam
c) HPCL Mumbai Refinery
d) Paraguana Refinery, Venezuela
e) Exxon Mobil Refinery, Singapore
16. IIFCL (India Infrastructure Finance Co. Ltd) is wholly-owned Govt. of India Company. Who is selected to take over as the Chairman and Managing Director?
    a) C B Bhave    b) S B Nayar
c) T S Vijayan    d) Yogesh Agarwal
e) None of the above
17.Till 30th June, 1955 State Bank of India(SBI) was known as?
    a) State Bank of British India
b) Imperial Bank of India
c) India Central Bank
d) Central Bank of British India
e) None of the above
18.Where is the Asian Development Bank(ADB) located?
    a) Mumbai, India    b) Hiroshima, Japan
c) Shanghai, China    d) Manila, Philippines
e) Jakarta, Indonesia
19. Structured Financial Messa-ging System (SFMS) is a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications in India. Which of the following have interface with SFMS?
    a) RTGS(Real Time Gross Settlement)
b) Negotiated Dealing System (NDS)
c) Security Settlement System (SSS)
d) 'a' and 'c' of the above
e) 'a', 'b' & 'c' of the above
20. Which Country is the largest producer of Tea in the world?
a) India     b) Brazil
c) Peoples Republic of China
d) Srilanka    e) None of the above
21. Who is the CEO & MD of TCS(Tata Consultancy Servi-ces)?
    a) Cyrus Mistry        b) S Ramdorai
c) N Chandrasekharan    d) Ratan Tata
e) None of the above
22. Qualitative Credit Contro is one of the methods used by RBI to control credit. Which of the following is NOT a Qualitative Credit Control tool?
    a) Moral Suasion  b)Marginal Requirement
c) Rationing of Credit  d) Bank Rate
e) 'a' & 'd' of the above
23. Who is the Chairperson of 14th Finance Commission?
    a) Dr Yaga Venugopal Reddy
b) Dr Vijay L Kelkar    c) Dr C Rangarajan
d) Dr Duvvuri Subbarao  e) None of the above
24. The 12th Five Year Plan (2012-17) is approved by Union Cabinet on 4th October, 2012. The aims of the plan are?
    a) 8% average growth rate
b) Reduce Poverty by 10% during the Plan
c) Faster, Sustainable and More inclusive Growth
d) All the 3 above    e) None of the above
25. Which State is the largest producer of Cotton in India in the year 2012-13?
    a) Gujarat    b) Maharashtra
c) Andhra Pradesh    d) Karnataka
e) Madhyapradesh
26. Who sets up the Bench Mark Interest Rate for Germany?
    a) German Central Bank
b) Deutsche Bundes Bank
c) European Central Bank(ECB)
d) Deutsche Bank
e) None of the above
27. What is India's Apex Tax body?
a) CBDT    b) GAAR
c) IT Department    d) RBI e) None of the above
28. FICCI is an Association of Business Organizations in India.  Who is the President of FICCI?
    a) Shikha Sharma        b) Usha Thorat
c) Naina Lal Kidwai    d) Indra Nooyi
e) None of the above
29. Banks in India are governed by BR Act 1949.  What does  'BR' stands for?
    a) Banks Registration b) Banking Re-organization
c) Banking Regulation d) Banking Rights
e) None of the above
30. In India, Scheduled Commercial Banks are those Banks included?
a) In the 2nd Schedule of RBI Act 1934
b) In the 2nd Schedule of BR Act 1949
c) In the 2nd Schedule of NI Act 1881
d) In the 2nd Schedule of Companies Act 1956
e) None of the above
31. Periodically Reserve Bank of India (RBI)  reviews a few SLR norms.  SLR stands for?
a)  Statutory Liquidity Ratio
b)  Statutory Liquidity Rate
c)  Statutory Liquidity Return
d)  Statutory Liquidity Repo
e)  None of the above
32. In the recent months, Indian Rupee depreciated heavily against US Dollar.  Rupee depreciation means?
a) Value of Rupee decreasing against a basket of currencies
b) Less number of Rupees per US Dollar
c) More number of Rupees per US Dollar
d) Less number of Dollars per Rupee
e) None of the above
33. In India, Commodities Market is regulated by?
a)  Forward Market Commission
b)  Forward Market Committee
c)  Forward Market Corporation
d)  Forward Market Council
e)  None of the above
34. Food Security Bill is recently passed by Parliament.  What does the Food Security Bill intend to achieve?
a) At least 3kg of food grains per person per month to be given to general category households, at prices not exceeding 50% of Minimum Support Price.
b) Up to 75% of the rural population and up to 50% of urban population are to be covered under Targeted Public Distribution System.
c) Children aged six months to 14 years would get take-home ration or hot cooked food.
d) The oldest adult woman in each house would be considered the head of that household when issuing the ration card.
e) All of the above
35. FIPB stands for?
a) Foreign Investment and Production Board
b) Foreign Investment and Promotion Board
c) Foreign Investment and Promotion Bureau
d) Foreign Investment and Protection Board
e) None of the above

                           ANSWERS
1. A    2. C    3. A    4. E    5. B    6. A    7. D    8. E    9. E    10. A    11. D    12. E    13. B    14. C    15. A    16. B    17. B    18. D    19. E    20.C    21. C    22. C    23. A    24. D    25. A    26. C    27. A    28. C    29. C    30. A    31. A    32. C    33. A    34. E    35. B