Economic and Financial Awareness Quiz

With reference to Special Mention Account, consider the following statements

1) SMA-0 Principal or interest payment not overdue for more than 30 days but account showing signs of incipient stress

2) SMA-1 Principal or interest payment overdue between 31-60 days

3) SMA-2 Principal or interest payment overdue between 61-90 days

Select the correct answer using the code given below.

• Only 1 and 2

• Only 2 and 3

• Only 1 and 3

• All of the above

Read the following statements carefully and choose the incorrect answers by using the codes given below:

1) Sampoorna Bima Gram (SBG) Yojana provides affordable life insurance services to people, particularly those living in rural areas of the country

2) Ministry of Rural development launched the scheme

3) The benefits of Postal life Insurance will be confined to government and semi-government employees only

• Only 1 and 2

• Only 2 and 3

• Only 1 and 3

• All of the above

With reference to National Investment Fund (NIF), consider the following statements

1) Purpose of the fund was to receive disinvestment proceeds of central public sector enterprises and to invest the same to generate earnings

2) Earnings of the Fund were to be used for selected Central social welfare Schemes

3) Fund is part of consolidated fund of India

Select the correct answer using the code given below.

• Only 1 and 2

• Only 2 and 3

• Only 1 and 3

• All of the above

Read the following statements carefully:

1) A micro enterprise in manufacturing sector has investment less than five lakh rupees

2) A small enterprise in Service Sector has investment less than five crore rupees

3) A medium enterprise in manufacturing sector has investment less than ten crore rupees

Choose the right answer by using the codes given below.

• Only 1 and 2

• Only 2 and 3

• Only 1 and 3

• All of the above

Look at the following statements about Financial and Business Cycle

1) Business cycle is the fluctuation in economic activity but in the financial cycle financial disruptions tend to be long

2) The scope of financial cycle is wider than the business cycle and has deep impact on the global economy

Which of the statements given above is/are correct?

• Only 1

• Only 2

• All of the above

• None of the above

The Chakravyuha Challenge present in economic survey speaks about

1. NPA issue and its impact on banking system

2. Issue of Exit from the market

Select the incorrect answer using the codes given below:

• 1 only

• 2 only

• Both 1 and 2

• None of the above

Consider the following statements with respect to reverse charge

1) The liability to pay tax is by the recipient of goods/services instead of the supplier.

2) Reverse charge may be applicable for services only

Select the correct answer using the code given below.

• Only 1

• Only 2

• All of the above

• None of the above

Aaykar Setu which is seen in news is related to

• It is a private limited company floated to aid the rollout of the new indirect tax regime

• It allows user or taxpayers to execute the provisions of GST through the online platform.

• App launched by CBDT that allows entities track TDS, pay taxes and apply for permanent account number (PAN)

• A desk that will explain the benefits of GST to small businessmen and answer their Queries

With respect to Capital Output Ratio, consider the following statements

1) It is the amount of capital needed to produce one unit of output

2) Higher level of COR means capital is efficiently employed in the country

Select the correct answer using the code given below.

• Only 1

• Only 2

• All of the above

• None of the above

Which of the following statements about Offer for sale is correct?

1) OFS is an auction and the proceeds go to promoters

2) OFS defines a price band within which bids should be placed

• Only 1

• Only 2

• All of the above

• None of the above