Announcement- FULL MOCK and Daily Prelims [Day 58]

Hello Friends,

We are on the verge of completion of our 60 Days Prelims journey. Initially we promised THREE full Mocks but considering the workload and quality time, you as an aspirant have at this point, we have decided to go for ONE FULL MOCK– Very much of UPSC Standard and Quality.

You need revision much more than MOCKS. One Mock Test will do the purpose. We can use this time to give you pending compilations of Prelims Tests as given for Environment, Economics and S&T, Current Affairs and IYB.

The Full Mock Test will be uploaded on 17th August 2015 in QUIZ FORMAT. We will notify about the TIME on 16th August. Prepare Well 🙂

IASbaba’s Daily Prelims Test [Day 58]

ECONOMICS – Revision

1. The Fourteenth Finance Commission (FFC) has proposed a new horizontal formula for the distribution of the states’ share in divisible pool among the states. Which of the following variables is/are used by FFC to determine the states’ share?

1. 2011 census population
2. Fiscal capacity
3. Forest cover
4. Fiscal Discipline

Select the correct answer using the code given below.

1. 1 and 2 only
2. 1, 2 and 4 only
3. 1, 2 and 3 only
4. All the above

2. Constitution of India makes elaborate provisions on distribution of tax proceedings between the centre and states. Which of the following taxes forms part of consolidated fund of India?

1. Taxes on railway fares and freights
2. Estate duty in respect of property other than agricultural land
3. Taxes on the sale or purchase of newspapers
4. Taxes other than stamp duties on transactions in stock exchanges and futures markets

Select the correct answer using the code given below.

1. 1, 2 and 3 only
2. 2, 3 and 4 only
3. All the above
4. None of the above

3. Concept of a special category state seeks to provide certain disadvantaged states with preferential treatment in the form of central assistance and tax breaks. Which of the following is/are components based on which special category status is granted?

1. Low population density
2. High population density
3. Economic backwardness
4. Non viable nature of state finances

Select the correct answer using the code given below.

1. 1 and 3 only
2. 3 and 4 only
3. 1, 3 and 4 only
4. 2, 3 and 4 only

4. Which of the following development/s helps in bringing down inflation?

1. Falling global commodity price
2. Decline in growth rate of rural wages
3. Moderation in the increase in Minimum Support Prices
4. Slack in economic activity

Select the correct answer using the code given below.

1. 1, 2 and 3 only
2. 2, 3 and 4 only
3. 1, 3 and 4 only
4. All the above

5. Which of the following parameters is/are used in calculating ‘Gender Inequality Index’?

1. Maternal mortality ratio
2. Share of seats in national parliament
3. Labour force participation rate
4. Adolescent birth rate

Select the correct answer using the code given below.

1. 1, 2 and 3 only
2. 2 and 3 only
3. 2, 3 and 4 only
4. All the above

6. Which of the following sectors is/are prohibited for FDI?

1. Lottery Business
2. Real Estate Business or Construction of Farm Houses
3. Atomic Energy sector
4. Business of chit fund

Select the correct answer using the code given below.

1. 3 only
2. 3 and 4 only
3. 1 and 4 only
4. All the above

7. The unit which has defaulted in meeting its payment / repayment obligations to the lender, is consider as a ‘wilful default’ when

1. When it has the capacity to honour the said obligations but did not do so
2. It has not utilised the finance for the specified purposes and diverted the funds for other purposes
3. The unit has siphoned off the funds and no funds available with the unit in the form of other assets
4. The unit has disposed off the movable or immovable property given for the purpose of securing a term loan without the knowledge of the lender

Select the correct answer using the code given below.

1. 1 only
2. 1, 2, 3 and 4
3. 1 and 4 only
4. 1, 3 and 4 only

8. Consider the following statements regarding white label ATMs.

1. White label ATMs are setup owned and operated by NBFCs only.
2. Acceptance of cash deposits at the WLAs is not permitted.

Which of the above statements is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

9. Consider the following statements regarding ‘Sukanya Samriddhi Account’.

1. Account can be opened in the name of the girl child from the birth of girl child till she attains age of ten years.
2. The account can be opened with an initial deposit of one thousand rupees.
3. A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different Girl children.

Which of the above statements is/are correct?

1. 1 only
2. 1 and 2 only
3. 2 and 3 only
4. All the above

10. Consider the following statements regarding Financial Action Task force.

1. The Financial Action Task Force (FATF) is an inter-governmental body established in 1989.
2. The objective of the FATF is to set standards for legal, regulatory and operational measures for combating money laundering, terrorist financing and promote its effective implementation.

Which of the above statements is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

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