Here is the list of questions that have been asked directly/indirectly in APFC 2016 from our Mock Series APFC QUESTION 1. Q. The Rangarajan committee on disinvestment of shares in Public sector enterprises suggested that 1.The percentage of equity to be divested should be more than 49% for industries explicitly reserved for the public sector and it should be either 74% or 100% for others. 2.Year-wise targets of disinvestment should be maintained. Which of the above statements is/are correct? A) 1 only B) 2 only C) Both 1 and 2 D) Neither 1 nor 2 Ans. A MOCK-28 Q.19 Q.19 The Rangarajan Committee on disinvestment of shares in public sector units did not suggest that A) The percentage of equity to be disinvested should be 49 percent in reserved industries and 75 percent in other cases B) A year wise targets of disinvestment should be maintained C) A scheme of preferential offer of shares to workers and employers in PSEs may be devised D) 10% of the proceeds of disinvestment may be set apart by the government for lending to PSEs on concessional terms Ans. B APFC QUESTION 2. Q. Consider the following statements regarding the Pradhan Mantri Jeevan Jyoti Bima Yojana: 1.It is applicable to all adults above the age group of 18 years. 2.The premium is deducted from the account holder’s bank account through ‘auto debit facility.’ 3.The life insurance worth is decided by the account holder and he has to pay the annual premium accordingly. 4.The life insurance amount is given to the family after the death of the subscriber. Which of the above statements the correct? A) 1 and 3 only B) 1 and 4 only C) 2 and 4 only D) 2 and 3 only Ans. C MOCK-48 Q.95 Q.95 With reference to the Pradhan Mantri Jeevan Jyoti Bima Yojana, which among the following statements are correct ? 1. It is a Life Insurance coverage plan 2. This scheme is available for all the age groups Codes: A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. A Pradhan Mantri Jeevan Jyoti Bima Yojana is available to people between 18 and 50 years of age with bank accounts. It has an annual premium of ₹330 (US$5.00) excluding service tax, which is above 14% of the premium. The amount will be automatically debited from the account. In case of death due to any cause, the payment to the nominee will be ₹2 lakh (US$3,000). This scheme will be linked to the bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme. Most of these account had zero balance initially. The government aims to reduce the number of such zero balance accounts by using this and related schemes. This plan covers both natural and accidental death risk. The maximum sum assured offered under this Govt Scheme is Rs 2 Lakhs. APFC QUESTION 3. Q. Consider the following statements regarding the Pradhan Mantri Suraksha Bima Yojana: 1.It is application for all bank account holders up to the age of 60 years. 2.It is life insurance cover. 3.It is an accident insurance cover. 4.The insurance covers death and permanent disability due to accident. Which of the above statements are correct? A) 1 and 2 only B) 3 and 4 only C) 2 and 3 only D) 1 and 4 only Ans. B MOCK-53 Q.24 Q.24 Which one of the following statements with regard to Pradhan Mantri Suraksha Bima Yojana is NOT correct? A) The yearly premium is Rs. 12 B) It is available to all savings bank account holders in the age group of 18 to 50 years C) It has accidental death and disability cover of Rs. 2,00,000 D) There is a provision of payment of Rs. 1,00,000 for partial permanent disability Ans. C Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurance scheme in India. It was originally mentioned in the 2015 Budget speech by Finance Minister Arun Jaitley in February 2015. It was formally launched by Prime Minister Narendra Modi on 9 May in Kolkata. As of May 2015, only 20% of India's population has any kind of insurance, this scheme aims to increase the number APFC QUESTION 4. Q. Consider the following statements in respect of Atal Pension Yojana: 1.Beneficiary must be in the age group of 18 to 40 years. 2.Beneficiary will receive the pension only after he attains the age of 60 years. 3.After the death of a beneficiary, his spouse continues to receive the pension. 4.No nominee of the beneficiary is permitted. Which of the above statements are correct? A) 3 and 4 only B) 1, 3 and 4 only C) 1, 2 and 3 only D) 1, 2, 3 and 4 Ans. C MOCK-67 Q.1 Q.1 Prime Minister Narendra Modi has launched three ambitious social security schemes, relating to the insurance and pension sector and intended at widening the process of financial inclusion.Which of the following is not among those? A) Pradhan Mantri Suraksha Bima Yojana (accident insurance) B) Pradhan Mantri Jeevan Jyoti Yojana (life insurance) C) Kisan Jeevan Jyoti Yojana (life insurance) D) Atal Pension Yojana” (Pension) Ans. C Atal Pension Yojna (APY) The scheme will be launched on June 1 2015 and focus is on the unorganised sector. A pension provides people with a monthly income when they are no longer earning. A Subscriber receives pension based on accumulated contribution out of his current income.Under the Atal Pension Yojna Scheme (APY), the subscribers ,under the age of 40, would receive the fixed monthly pension of Rs. 1000 to Rs 5000 at the age of 60 years, depending on their contributions. To make the the pension scheme more attractive, government would co-contribute 50 per cent of a subscriber’s contribution or Rs 1,000 per annum, whichever is lower to each eligible subscriber account for a period of of 5 years from 2015-16 to 2019-20. The benefit of government’s co-contribution can be availed by those who subscribe to the scheme before December 31, 2015. Eligibility for APY: Atal Pension Yojana (APY) is open to all bank account holders who are not members of any statutory social security scheme. Age of joining and contribution period: The minimum age of joining APY is 18 years and maximum age is 40 years. One needs to contribute till one attains 60 years of age. Enrolment agencies: All Points of Presence (Service Providers) and Aggregators under Swavalamban Scheme would enrol subscribers through setup of National Pension System. The Table of contribution levels, fixed monthly pension to subscribers and his spouse and return of corpus to nominees of subscribers and the contribution period is given below. if person joined Atal Pension Yojna at 35 years, he will contribute till age of 60 years ie 25 years. If he wants monthly pension of Rs 1000 he would contribute Rs 181 a month. On his death his wife would get Rs 1000 per month and after her death the nominees will get 1.7 lakh. If he wants monthly pension of Rs 3000 he would contribute Rs 543 a month. On his death his wife would get Rs 3000 per month and after her death the nominees will get 5.1 lakh. If he joins at the age of 18 years to get a fixed monthly pension of Rs. 1,000 per month, the subscriber has to contribute on monthly basis Rs. 42 for Rs 5000 pension he has to contribute Rs. 210. if he joins at the age of 40 years to get a fixed monthly pension of Rs. 1,000 per month, the subscriber has to contribute on monthly basis Rs. 291 and for Rs 5000 pension he has to contribute Rs. 1,454 Pradhan Mantri Suraksha Bima Yojana Highlights of the Pradhan Mantri Suraksha Bima Yojana (Pmsby – Scheme 1 – for Accidental Death Insurance) are Eligibility: Available to people in age group 18 to 70 years with bank account. Premium: Rs 12 per annum. Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available. Risk Coverage: For accidental death and full disability – Rs 2 Lakh and for partial disability – Rs 1 Lakh. Eligibility: Any person having a bank account and Aadhaar number linked to the bank account can give a simple form to the bank every year before 1st of June in order to join the scheme. Name of nominee to be given in the form. Terms of Risk Coverage: A person has to opt for the scheme every year. He can also prefer to give a long-term option of continuing in which case his account will be auto-debited every year by the bank. Who will implement this Scheme?: The scheme will be offered by all Public Sector General Insurance Companies and all other insurers who are willing to join the scheme and tie-up with banks for this purpose. The premium paid will be tax-free under section 80C and also the proceeds amount will get tax-exemption u/s 10(10D).But if the proceeds from insurance policy exceed Rs.1 lakh , TDS at the rate of 2% from the total proceeds if no Form 15G or Form 15H is submitted to the insurer. Pradhan Mantri Jeevan Jyoti Bima Yojana Highlights of The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY – SCHEME 2 – FOR LIFE INSURANCE COVER) Eligibility: Available to people in the age group of 18 to 50 and having a bank account. People who join the scheme before completing 50 years can, however, continue to have the risk of life cover up to the age of 55 years subject to payment of premium. Premium: Rs 330 per annum. It will be auto-debited in one instalment. Payment Mode: The payment of premium will be directly auto-debited by the bank from the subscribers account. Risk Coverage: Rs. 2 Lakh in case of death for any reason. Terms of Risk Coverage: A person has to opt for the scheme every year. He can also prefer to give a long-term option of continuing, in which case his account will be auto-debited every year by the bank. Who will implement this Scheme?: The scheme will be offered by Life Insurance Corporation and all other life insurers who are willing to join the scheme and tie-up with banks for this purpose. APFC QUESTION 5. Q. The right to free and Compulsory Education Act, 2009 provides for education to every child in the age group A) 5 – 13 years B) 8 – 16 years C) 7 – 15 years D) 6 – 14 years Ans. D MOCK-15 Q.80 Q.80 Statements: 1) Right to education act 2002 was introduced to help the children of age 6 to 14 yrs of age 2) Supreme court & High court has the power to implement the fundamental rights Codes: A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. C OR MOCK-50 Q.35 Q.35 Consider the following statements: 1) every child under the age of 14 should get free education. 2) Dependency ratio decreases economic pressure in case of population of India. Which are correct: A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. A Dependency ratio increases economic pressure. APFC QUESTION 6. Q. Walking at 3/4th of his usual speed, a man reaches his office 20 minutes late. What is the time taken by him to reach the office at his usual speed ? A) 80 minutes B) 70 minutes C) 60 minutes D) 50 minutes Ans. C MOCK-19 Q.12 Q.12 Running at 5/4 of his usual speed an athlete improves his timing by 5 min.How much time he usually takes to run the same distance ? A) 25 min. B) 26 min. C) 27 min. D) 28 min. Ans. A Usual time = Improvement in time / 1- old speed/new speed 5 / 1-1/ 5/4 5/ 1-4/5 =5/ 1/5 =25min. APFC QUESTION 7. Besides resistance to pests, what are the other prospects for which plants have been genetically engineered? 1.To enable theme withstand drought 2.To increase the nutritive value of the produce 3.To enable them to grow and do photosynthesis in spaceships and space stations 4.To increase their shelf life Select the correct answer using the codes given below: A) 1, 2 and 3 only B) 3 and 4 only C) 1, 2 and 4 only D) 1, 2, 3 and 4 Ans. C FROM "MORE IMPORTANT QUESTIONS SET-2" Q.32 Q.32 Besides resistance to pests, what are the other prospects for which plants have been genetically engineered? 1.To enable theme withstand drought 2.To increase the nutritive value of the produce 3.To enable them to grow and do photosynthesis in spaceships and space stations 4.To increase their shelf life Select the correct answer using the codes given below: A) 1, 2 and 3 only B) 3 and 4 only C) 1, 2 and 4 only D) 1, 2, 3 and 4 Ans. C OR MOCK-32 Q.80 Q.80 In context with the Bt Cotton, consider the following statements : 1) It is the only genetically modified crop approved in India 2) It is resistant for the growth of the pests Codes: A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. A Conditions are positive for the growth of the pests APFC QUESTION 8. Q. If the Prime Minister of India is a member of the Rajya Sabha A) He can make statements only in the Rajya Sabha. B) He has to become a member of the Lok Sabha within six months. C) He will not be able to speak on the budget in the Lok Sabha D) He will not be able to vote in his favour in the event of a no-confidence motion Ans. D MOCK-64 Q.53 Q.53 If the prime minister is the member of the Rajya Sabha: A) He/She has to get elected to the Lok Sabha within 6 months. B) He/She cannot take part in the voting when a vote of no confidence motion is under consideration. C) He/She cannot take part in the Budget deliberations in the Lok Sabha. D) He/She can declare the Govt’s Policies only in the Rajya Sabha. Ans. B APFC QUESTION 9. Q. The parliament can make any law for whole or any part of India for implementing international treaties A) With the consents of all the States B) With the consents of majority of the states C) With the consent of the states concerned D) Without the consent of any state Ans. D Mock-59 Q.1 Q.1 The Parliament can make any law for whole or any part of India for implementing international treaties A) with the consent of all the States B) with the consent of the majority of States C) with the consent of the States concerned D) without the consent of any State Ans. D APFC QUESTION 10. Q. If the radius of a circle is reduced by 50%, its area will be reduced by A) 30% B) 50% C) 60% D) 75% Ans. D MOCK-25 Q.37 Q.37 If the radius of a circle is increased by 50 % , then area of the circle will increase by – A) 50 % B) 75 % C) 100 % D) 125 % Ans. D Let the radius of original circle =r cm Area of the original circle = πr^2 cm2 When the radius is increased by 50% Increased radius = (100+50 / 100 )r = 3/2 r Increased area of circle = π〖(3/2 r)〗^2 - πr^2 πr^2 (9/4 - 1) = 5/4 πr^2 Required % of increased area = 5/4 πr^2/ πr^2 * 100 5/4 * 100 =125 % APFC QUESTION 11. Q. Which of the following were the main aspects of the Gandhi-Irwin pact of 1931? 1.Suspension of the civil disobedience movement 2.To take part in the then forthcoming simla conference 3.Pay taxes for the period of the civil disobedience movement 4.Release of political prisoners Select the correct answer using the codes given below: A) 1 and 3 only B) 2 and 3 only C) 1 and 4 only D) 2 and 4 only Ans. C MOCK-17 Q.21 Q.21 Which of the following were the demands on which British Government was agreed under the Gandhi-Irwin pact ? 1) Restore confiscated properties of the satyagrahis 2) Withdraw all ordinances and end prosecutions 3) Permit free collection or manufacture of salt by persons near the sea-coast 4) Permit peaceful picketing of liquor and foreign cloth shops Codes: A) 1,3,4 B) 2,3,4 C) 1,2,3 D) 1,2,3,4 Ans. D OR MOCK-22 Q.63 Q.63 Consider the following statements relating to the Civil Disobedience Movement : 1. By the Gandhi-Irwin pact,the congress agreed to suspend the Civil Disobedience Movement. 2. By the Gandhi-Irwin Pact,the Government Promised to release all political prisoners not convicted for violence. Which of the statements given above is/are correct ? A) 1 only B) 2 only C) Both 1 and 2 D) Neither 1 nor 2 Ans. C The Gandhi–Irwin Pact was a political agreement signed by Mahatma Gandhi and the then Viceroy of India, Lord Irwin on 5 March 1931 before the second Round Table Conference in London. Before this, the viceroy Lord Irwin announced in October 1929, a vague offer of 'dominion status' for India in an unspecified future and a Round Table Conference to discuss a future constitution. "The Two Mahatmas"—as Sarojini Naidu described Gandhi and Irwin—had eight meeti-ngs that totaled 24 hours. Gandhi was impressed by Irwin’s sincerity. The terms of the "Gandhi-Irwin Pact" fell manifestly short of those Gandhi prescribed as the minimum for a truce. Below were the proposed conditions. *Discontinuation of the civil disobedience movement by the Indian National Congress *Participation by the Indian National Congress in the Round Table Conference *Withdrawal of all ordinances issued by the British Government imposing curbs on the activities of the Indian National Congress *Withdrawal of all prosecutions relating to several types of offenses except those involving violence *Release of prisoners arrested for participating in the civil disobedience movement *Removal of the tax on salt, which allowed the Indians to produce, trade, and sell salt legally and for their own private use APFC QUESTION 12. Q. If 5 men and 9 women can finish a piece of work in 19 days, 3 men and 6 women will do the same work in : (Incorrect Question) MOCK-32 Q.12 Q.12 men and 5 women can complete a work in 3 days. If a man can do it in 36 days, how long will a woman take to do it ? A) 42 days B) 30 days C) 36 days D) 35 days Ans. B 6M + 5W = 1/3 Since it is given, M=1/36 Therefore, 6*1/36 + 5W = 1/3 1/6+5W = 1/3 1/6 – 1/3 = -5w 1-2/6 = -5w Or W=30 APFC QUESTION 13. Q. Acid rain is due to A) Sulphur dioxide pollution B) Carbon monoxide pollution C) Pesticide pollution D) Dust particles in the atmosphere Ans. A MOCK-59 Q.5 Q.5 Acid rain is caused by the pollution of environment by A) carbon dioxide and nitrogen B) carbon monoxide and carbon dioxide C) ozone and carbon dioxide D) nitrous oxide and sulphur dioxide Ans. D APFC QUESTION 14. Q. The Maternity Benefit act, 1961 (M.B Act) Provided for how many week’s wages during the maternity period? A) 11 weeks B) 12 weeks C) 13 weeks D) 14 weeks Ans. B MOCK-22 Q.81 Q.81 Under the Maternity Benefit Act 1961, what is the minimum number of days a woman employee must have worked under an employer in the twelve months preceding the date of expected delivery for becoming eligible for maternity benefit? A) 90 days B) 80 days C) 180 days D) 240 days Ans. B MOCK-5 EXPLANATION OF Q.26 The Maternity Benefit Act, 1961 (M.B. Act), which provides for 12 weeks wages during maternity as well as paid leave in certain other related contingencies. APFC QUESTION 15. Q. A collection of programs that controls how the computer system runs and processes information is called A) Compiler B) Operating System C) Linker D) Assembler Ans. B MOCK-64 Q.15 Q.15 Which among the following is not included in basic functions of operating system? A) memory management B) Job scheduling C) data Management D) Job Control Ans. D APFC QUESTION 16. Q. USB is the acronym for A) Uniform Service Broadcasting B) Unique Solution Bus C) Universal Serial Bus D) Universal Service Broadcasting Ans. C FROM SCIENCE & TECHNOLOGY MODULE 6 PG-13 APFC QUESTION 17. Q. LAN, WAN and MAN are computer networks covering different areas. Their first alphabets L, W and M respectively stand for A) Local, World and Middle B) Long, Wireless and Metropolitan C) Local, Wide and Metropolitan D) Least, Wireless and Maximum Ans. C FROM SCIENCE & TECHNOLOGY MODULE 6 PG-11 APFC QUESTION 18. Q. The method of communication in which transmission can take place in both directions, but happens only in one direction at a time, is called A) Duplex B) Half Duplex C) Full Duplex D) Simplex Ans. B FROM SCIENCE & TECHNOLOGY MODULE 6 PG-7 TO 8 APFC QUESTION 19. Q. In a chess tournament, each of the six players will play with every other player exactly once. What is the number of matches that will be played during the tournament? A) 10 B) 15 C) 20 D) 25 Ans. B MOCK-33 Q.43 Q.43 When the persons shake hands with one another , in how many ways is it possible ? A) 25 B) 40 C) 20 D 45 Ans. D 10C2 = 10!/8! 2! = 10*9*8!/8! * 2 =10*9/2 =90/2 = 45 Or 10*9/2*1 = 45 APFC QUESTION 20. Q. Which of the following are the instruments of providing social security in India? 1.Income Tax 2.Employees’ Provident Fund 3.General Sales Tax 4.LIC 5.National Pension Scheme 6.Postal provident Fund Select the correct answer using the codes given below: A) 1, 2, 3 and 4 B) 2, 3, 4 and 5 C) 2, 4, 5 and 6 D) 3, 4, 5 and 6 Ans. C MOCK-5 EXPLANATION OF Q.26 The principal social security laws enacted in India are the following: The Employees’ State Insurance Act, 1948 (ESI Act) which covers factories and establishments with 10 or more employees and provides for comprehensive medical care to the employees and their families as well as cash benefits during sickness and maternity, and monthly payments in case of death or disablement. The Employees’ Provident Funds & Miscellaneous Provisions Act, 1952 (EPF & MP Act) which applies to specific scheduled factories and establishments employing 20 or more employees and ensures terminal benefits to provident fund, superannuation pension, and family pension in case of death during service. Separate laws exist for similar benefits for the workers in the coal mines and tea plantations. The Employees' Compensation Act, 1923 (WC Act), which requires payment of compensation to the workman or his family in cases of employment related injuries resulting in death or disability. The Maternity Benefit Act, 1961 (M.B. Act), which provides for 12 weeks wages during maternity as well as paid leave in certain other related contingencies. The Payment of Gratuity Act, 1972 (P.G. Act), which provides 15 days wages for each year of service to employees who have worked for five years or more in establishments having a minimum of 10 workers. Separate Provident fund legislation exists for workers employed in Coal Mines and Tea Plantations in the State of Assam and for seamen. New Initiatives – The various Central Acts on Social Security are being examined in the light of the recommendations of the 2nd National Commission on Labour. Relevant amendments are proposed in the EPF and MP Act as also the ESI Act. The consultation process is on with reference to the amendment suggestions received in case of the Maternity Benefit Act and the Workmen’s Compensation Act. Innovative measures are proposed in the running of the Social Security Schemes of EPFO and ESIC. This includes flexible benefit schemes tailored to the specific requirements of different segments of the population. Summary Of Present Initiatives In Working Of EPFO & ESIC The profiles of the Employees’ Provident Fund Organization and the Employees’ State Insurance Corporation are being changed towards greater accessibility and client satisfaction. The EPFO extends to the entire country covering over 393824 establishments. At present, over 3.9 crore EPF Members and their families get benefits under the social security schemes administered by the EPFO. The total corpus of the EPF Scheme 1952, EDLI Scheme, 1976 and Employees Pension Scheme 1995 together amounts to about Rs.1,39,000 crores. Over the years, the volume of service rendered to subscribers as well as investments made, etc. by EPFO have grown manifold. With a view to provide better services to subscribers and employers, the organization has launched the Project RE-INVENTING EPF, INDIA since June, 2001. The prime objectives of this Project are to provide the subscribers better and efficient services, to help the employers by reducing the cost of compliance and to benefit the organization to register geometric growth in all fields. An important part of this Project is the allotment of the UNIQUE IDENTIFICATION NUMBER-the SOCIAL SECURITY NUMBER to the EPF subscribers, issuing of BUSINESS NUMBERS to the employers and Business Process Re-engineering. The strategy for implementation has been evolved and the allotment of the Social Security Number has begun with the entire activity being carried out in smaller phases for effective data collection. The criteria considered for the allotment of SSN include the centralized control of Uniqueness, ensuring the least manual intervention during allotment and near 100% Uniqueness accuracy levels. The Social Security Number in a nutshell is a big effort towards solving the problem of providing social protection to migrant labour and to make the data base of EPFO adaptable to the present trend of high job mobility among workers. Social security is essential for the well being of people and society. It is the basic human right and its fulfillment will contribute to achieving various developmental goals of nation. Social Security measures have far reaching benefits in the form of improving and bringing sense of pride and self respect amongst the citizens. Such measures also help in providing the minimal level of providing protection against health and life hazards in work situations. It can progressively pay standard to social security welfare measures involving provisions of better Health Care, Maternity Care, and Old Age Pension etc. Social Security to the workers in the organized sector is provided through five Central Acts namely :- Employees’ Provident Fund and Miscellaneous Provisions Act, 1952. Employees’ State Insurance Act, 1948. Payment of Gratuity Act, 1972. Maternity Benefit Act, 1961. Employee’s Compensation Act, 1923. Social Security of the formal sector workers is provided through the instrumentality of Employees’ Provident Fund Organisation and Employees’ State Insurance Corporation. OR MOCK-37 Q.34 Q.34 Which one is a social protection programme? 1. Aam Adami Bima Yojana 2. Rashtriya Swasthya Bima Yojana 3. Swarna Jayanti Shahari Rojgar Yajana 4. The Unorganised Workers’ Social Security Act Codes: A) 1,2,3 B) 1,2,3,4 C) 1,2,4 D) 1 &4 Ans. A OR MOCK-55 Q.11 Q.11 Which of the following schemes is not included in the National Social Assistance Programme ? A) Indira Gandhi National Old Age Pension Scheme B) Indira Gandhi National Widows Pension Scheme C) National Family Benefit Scheme D) Indira Awas Yojna Ans. D APFC QUESTION 21. Q.Which one of the following formed the basic premise for developing the Indian Constitution? A) The Government of India Act, 1935 B) The U.S Constitution C) The British Constitution D) The UN Charter Ans. A MOCK-64 Q.93 Q.93 Which is not an important & permanent constituent in the Constitutional History of India as adopted in the Govt. of India Act, 1935 ? A)A written constitution for the country B)Elected representatives responsible to the legislature C)Envisaging a scheme for Federation D)Nomination of official members to the Legislature Ans. D APFC QUESTION 22. Q. Which of the following are the functions of foreign investment promotion board (FIPB) ? 1.To ensure expeditious clearance of the proposals for foreign investment 2.To review periodically the implementation of the proposals cleared by the board 3.To undertake all other activities for promoting and other facilitating FDI as considered necessary from time to time 4.To interact with the FIPC being constituted separately by the Ministry of Industry Select the correct answer using the codes given below: A) 1, 2 and 3 only B) 1, 2 and 4 only C) 1, 2, 3 and 4 D) 3 and 4 only Ans. C Mock-15 Q.39 Q.39 In context with the Foreign Investment Promotion Board (FIPB) , Consider the following statements: 1) It should be endeavour to ensure that government’s decisions on FDI proposal is communicated to the applicant within 6 weeks. 2 ) It functions as single window, providing clearance for foreign investment proposals. 3) It ensure expendititious clearance of the proposals for Foreign Investment. Codes: A) 1 & 3 B) 2 & 3 C) All are correct D) All are incorrect Ans. C The Foreign Investment Promotion Board (FIPB) is a national agency of Government of India, with the remit to consider and recommend foreign direct investment (FDI) which does not come under the automatic route. It provides a single window clearance for proposals on FDI in India. Secretary, Department of Economic Affairs - Chairman Secretary, Department of Industrial Policy & Promotion - Member Secretary, Department of Commerce - Member Secretary, (Economic Relation), Ministry of External Affairs - Member The Board is empowered to co-opt Secretaries to the Government of India and other top officials of financial institutions, banks and professional experts of industry and commerce, as required. APFC QUESTION 23. Q. In the study of pollution, SPM refers to A) Sulphur phosphorus matter B) Sulphur particulate matter C) Solid particulate matter D) Suspended particulate matter Ans. D In Environment questions of Mock papers many times it has been mentioned in Explanations & in Study Material modules too. APFC QUESTION 24. Q. Which of the following industries were first established during the British rule in India? A) Cotton Textile industry; and jute industry B) Jute industry; and iron and steel industry C) Cotton textile industry; and chemical industry D) Jute industry; and chemical industry Ans. A MOCK-27 Q.71 Q.71 The first Industry to develop in India was : A) Cottage industry B) Cement industry C) Iron & steel industry D) Engineering industry Ans. A APFC QUESTION 25. Q. Which of the following are the roles of the finance commission India? 1.The distribution of money collected through taxes 2.Evaluation of centrally sponsored schemes 3.Evolve principles based on which funds are allotted among states 4.To develop five year plans Select the correct answer using the codes given below: A) 1 and 4 only B) 1 and 3 only C) 2 and 4 only D) 2 and 3 only Ans. B MOCK-34 Q.14 Q.14 Consider the following statements: 1) Finance Commission is a constitutional body to review Centre-state financial relationship. 2) Finance Commission makes recommendation for the devolution of the Plan & Non-plan revenue Codes: A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. A OR MOCK-34 Q.17 Q.17 Consider the following statements: 1) Finance Commission makes recommendation to the President on the Union-State fiscal relations. 2) Finance Commission recommends the principles which should govern the grant-in-aid of the revenues of the states out of the Consolidated fund of India Which among above is/are correct ? Codes: A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. C APFC QUESTION 26. Q. Which of the following statements are correct regarding the International Monetary Fund (IMF) 1.India is a founder member of the IMF 2.India’s quota in the IMF is more than 4 percent. 3.Finance Minister is represented ex-officio on the IMF. 4.IMF conducts regular review of India’s economic status under Article IV. Select conducts the correct answer using the codes given below: A) 1, 2 and 3 only B) 1, 3, and 4 only C) 2 and 4 only D) 1, 2, 3 and 4 Ans. B MOCK-46 Q.28 Q.28 Ten countries in the International Monetary Fund having very high say in decisions.Which one of the following combination of countries is representing that? A) China, Italy, India, Canada B) China, Italy, Saudi Arabia, Canada C) China, Australia, Saudi Arabia, Canada D) China, India, Saudi Arabia, Canada Ans. B OR MOCK-55 Q.82 Q.82 Regarding IMF (International Monetary Fund) quota system, consider the following statements : 1) The major objective is to raise funds for the loans 2) IMF Quota is assigned to member country as well as non member country 3) IMF is working to facilitate International trade, promote employment, as well as for economic growth Codes: A) 1 & 3 B) 2 & 3 C) 1 & 2 D) 1,2,3 Ans. D APFC QUESTION 27. Q. What is the number of States and Union Territories in India? A) 29 and 6 B) 28 and 7 C) 29 and 7 D) 28 and 6 Ans. C Mentioned in the study material modules APFC QUESTION 28. Q. Special Economic Zone (SEZ) are developed to A) Generate additional economic activity throughout the country B) Beautify suburban areas C) Upgrade the facilities in the countryside D) Promote investment from domestic and foreign sources Ans. D MOCK-33 Q.14 Q.14 In context with the Special Economic Zone, which among the following is/are correct ? 1) Development of infrastructure facilities is the main objective of SEZ 2) Exports of goods and services are mainly promoted 3) 100% FDI is allowed in Special Economic Zone Codes: A) 1 & 3 B) 2,3,4 C) 1,2,4 D) 1,2,3 Ans. D ANOTHER QUESTION MOCK-63 Q.55 Q. 55 In context with the Special Economic Zone consider the following statements: 1) It came into force in 2006 for the promotion of exports & Imports. 2) It provides single window clearance on matters relating to central Government only. 3) It provides 100 % tax exemption for 5 years. Codes: A) 1 & 2 B) 2 & 3 C) Only 3 D) All are correct Ans. C Special Economic Zones (“SEZs”) are defined as geographical areas, governed by one oversight management body, that offer special trade incentives to firms who choose to physically locate within them. Many countries employ their own variations of these special enclaves, and in doing so use their own terminology to describe them. For example, Mexico refers to its zones as “maquiladoras,” Ghana, Cameroon, and Jordan have “industrial free zones,” the Philippines calls its economic zones “special export processing zones,” and Russia has “free economic zones.” Despite the differences in nomenclature, each SEZ operates to increase trade throughout its respective region by offering special trade incentives to stimulate local and foreign investment within the region. The first modern special economic zone was created in Puerto Rico in 1942. Since then, 135 countries, many of them emerging markets, have developed over 3,000 zones. Their development has helped to improve global trade relations and has created over 70 million jobs and hundreds of billions of dollars in trade revenue. Special Economic Zones are generally implemented to meet fiscal, social, and infrastructure policy rationales. The most important fiscal goal of an SEZ is to facilitate economic growth through the use of reduced tariffs and more efficient customs controls. They are also essential tools for companies seeking to cut costs and improve inventory efficiency, and they help developing nations rework poor, inefficient trade policies and dilapidated or non-existent infrastructure. Part II of this Briefing Paper describes the different types of SEZs available to host countries, Part III and IV discuss the physical and regulatory characteristics of these zones, Part V describes the different incentives associated with SEZs, Part VI addresses the public and private nature of SEZ development and oversight, and Parts VII and VIII review the advantages and disadvantages of using an SEZ as a trade tool. APFC QUESTION 29. Q. Consider the following statements on Global Positioning System (GPS): 1.GPS allows accurate time- stamping on ATM transactions 2.GPS relies on a set of satellites for transferring signals worldwide. Which of the above statements is/are correct? A) 1 only B) 2 only C) Both 1 and 2 D) Neither 1 nor 2 Ans. C MOCK-54 Q.69 Q.69 In context with the Global Positioning System, consider the following statements : 1) It is a satellite based navigation system 2) It is considered as a one way system Codes: A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. C The Global Positioning System (GPS) is a space-based satellite navigation system that provides location and time information in all weather conditions, anywhere on or near the Earth where there is an unobstructed line of sight to four or more GPS satellites. The system provides critical capabilities to military, civil and commercial users around the world. It is maintained by the United States government and is freely accessible to anyone with a GPS receiver. The GPS project was developed in 1973 to overcome the limitations of previous navigation systems, integrating ideas from several predecessors, including a number of classified engineering design studies from the 1960s. GPS was created and realized by the U.S. Department of Defense (DoD) and was originally run with 24 satellites. It became fully operational in 1995. Bradford Parkinson, Roger L. Easton, and Ivan A. Getting are credited with inventing it. Advances in technology and new demands on the existing system have now led to efforts to modernize the GPS system and implement the next generation of GPS III satellites and Next Generation Operational Control System (OCX). Announcements from Vice President Al Gore and the White House in 1998 initiated these changes. In 2000, the U.S. Congress authorized the modernization effort, GPS III. In addition to GPS, other systems are in use or under development. The Russian Global Navigation Satellite System (GLONASS) was developed contemporaneously with GPS, but suffered from incomplete coverage of the globe until the mid-2000s. There are also the planned European Union Galileo positioning system, India's Indian Regional Navigational Satellite System and Chinese Compass navigation system. APFC QUESTION 30. Q. Which of the following is one of the Millennium Development Goals fixed by the UNO ? A) Halving extreme poverty and halting the spread of HIV/AIDS B) Develop a new variety of food grains which can ensure bumper crops C) To ensure that the population doesn’t increase in the least developed countries. D) Develop procedures towards adequate and timely forewarning on hurricanes and tsunamis. Ans. A MOCK-45 Q.77 Q.77 Which one of the following is not a Millennium Development Goal of the United Nations? A) Eradicate extreme poverty B) Reduce birthrate and death rate C) Improve maternal health D) Promote gender equality Ans. B APFC QUESTION 31. Q.The term ‘Carbon Footprint’ means A) A region which is rich in coal mines B) The amount of reduction in the emission of CO2 by a country C) The use of carbon in manufacturing industries D) The amount of greenhouse gases produced by our day to day activities. Ans. D MOCK-62 Q.52 Q.52 Which of the following can help in reducing the carbon footprint ? 1.Using fly-ash based cement in building construction 2. Using LED-based electric lamps instead of incandescent lamps Select the correct answer using the code given below : A) 1 only B) 2 only C) Both I and 2 D) Neither I nor 2 Ans. C APFC QUESTION 32. Q.Amongst the following who is the latest recipient of the ‘Bharat Ratna’ award? A) Sachin Tendulkar B) Atal Bihari Vajpayee C) Amartya Sen D) A.P.J Abdul Kalam Ans. B From Current Affairs Modules APFC QUESTION 33. Q.Green Revolution in India was expeditiously feasible in zones of A) High rainfall B) Moderate rainfall C) Assured irrigation D) Higher population density Ans. C MOCK-32 Q.30 Q.30 Green Revolution has led to increase in : 1) Productivity of pulses 2) Productivity of wheat 3) Region inequalities 4) Inter-person inequalities Codes: A) 1,3,4 B) 2,3,4 C) 1,2,3 D) 1,2,3,4 Ans. D APFC QUESTION 34. Q. How does an expansionary monetary policy affect the rate of interest and level of income? A) Raises the level of income but lowers the rate of interest B) Raises the rate of interest but lowers the level of income C) Raises both, rate of interest and the level of income D) Lowers both, the rate of interest and the level of income. Ans. A MOCK-39 Q.52 RELATED QUESTION Q.52 An economy pursuing an expansionary fiscal policy can witness : 1. increase in fiscal deficit 2. increase in wages of labour 3. increase in rate of income tax Select the correct answer using the codes given below. A) 1 only B) 1 and 2 only C) 1 and 3 only D) 1,2 and 3 Ans. A Expansionary fiscal policy is a macroeconomic policy that seeks to expand the money supply to encourage economic growth or combat inflation (price increases). One form of expansionary policy is fiscal policy, which comes in the form of tax cuts, rebates and increased government spending. Expansionary policies can also come from central banks, which focus on increasing the money supply in the economy. Such a fiscal policy will increase the expenditure, thereby increasing fiscal deficit. Increase in wages of labour is unrelated. There can be a decrease ( not increase ) in income tax rates, so statement 3 is false. APFC QUESTION 35. Q. Under the constitution of India which of the following statements are correct? 1.The Constitution is supreme 2.There is a clear division of powers between the Union and the state governments. 3.Amendments to the constitution have to follow the prescribed procedures. 4.The Union Parliament and the state Legislatures are sovereign. 5.The preamble to the constitution cannot be invoked to determine the ambit of Fundamental Rights Select the correct answer using the codes given below: A) 1, 2, 3, 4 and 5 B) 2, 3 and 4 only C) 1, 4 and 5 only D) 1, 2 and 3 only Ans. D MOCK-47 Q.16 Q.16 Which of the following is/are federal feature/s of our constitution. 1.Supremacy of the Constitution. 2. Rigid Constitution. 3. Independent Judiciary. A) 1 only. B) 2 & 3 only. C) 1 & 3 only. D) 1, 2 & 3. Ans. D MOCK-22 Q.65 Q.65 2nd Statement: 2. The Constitution of India lays down the mechanism for the enforcement of Fundamental Rights. All the options of this question are from different questions of political science that have been asked many times in our mock Papers. APFC QUESTION 36. Q. When the government ownership in Public Sector Undertakings is diluted, it is called A) Privatisation B) Public Private Partnership C) Disinvestment D) Deflation Ans. C MOCK-42 Q.97 Q. 97 Disinvestment is: A) Offloading of shares of private companies to government B) Offloading of government shares to private companies C) Increase in investment D) Closing down of business concerns Ans. B Disinvestment can also be defined as the action of an organisation (or government) selling or liquidating an asset or subsidiary. Objectives of disinvestment : To reduce the financial burden on the Government To improve public finances To introduce, competition and market discipline To fund growth To encourage wider share of ownership To depoliticise non-essential services Importance of Disinvestment Presently, the Government has about Rs. 2 lakh crore locked up in PSUs. Disinvestment of the Government stake is, thus, far too significant. The importance of disinvestment lies in utilisation of funds for: Financing the increasing fiscal deficit Financing large-scale infrastructure development For investing in the economy to encourage spending For retiring Government debt- Almost 40-45% of the Centre’s revenue receipts go towards repaying public debt/interest For social programs like health and education OR MOCK-47 Q.53 Q.53 Which among the following are the objectives of the Disinvestment ? 1. To improve public finances & to reduce the financial burden on the Government 2. Financing the increasing fiscal deficit Codes: A) Only 1 B) only 2 C) Both are correct D) Both are incorrect Ans. C Disinvestment can be defined as the action of an organisation (or government) selling or liquidating an asset or subsidiary A company or a government organisation will typically disinvest an asset either as a strategic move for the company, or for raising resources to meet general/specific needs. APFC QUESTION 37. Q. In writing all the integers from 1 to 300. How many times is the digit 1 used ? Ans. 160 MOCK-31 Q.2 Q.2 How many integers from 1 to 1000 have none of their digits repeated? A) 735 B) 736 C) 737 D) 738 Ans. D There are 9 one digit numbers now two digit numbers having none of their digits repeated are first digit can not have the digit 0 because then it will be a one digit number which we have already considered. So the total number of possibilities of having the first digit are 9. Now the second digit can have 0 but not that digit which has already be used in the first digit. So total number of possibilities are 9. total possibilities of the two digit numbers having none of their digits repeated are 9*9=81 now three digit numbers areagain the first digit can not be 0 so the total number of possibilities are 9. For the second digit the total number of possibilities are 9(as in the previous case). For the third digit we cannot use the two numbers which we have used for the first two digits. So the total number of possibilities are 8. The total number of possibilities of the three digit numbers having none of their digits repeated are 9*9*8=648 therefore total numbers between 1 and 1000 having none of their digits repeated are 9+81+648=738 APFC QUESTION 38. Q. Employees state insurance Act, 1948 covers factors like 1.Factories and establishments with 10 or more employees. 2.Provision of comprehensive medical care to employees and their families. 3.Provision of cash benefits during sickness and maternity. 4.Monthly payments in case of death or disablement. Which of the above statements are correct? A) 1, 2 and 3 only B) 1, 2 and 4 only C) 3 and 4 only D) 1, 2, 3 and 4 Ans. D MOCK-25 Q.18 Q.18 Consider the following statements about Employees’ State Insurance (ESI) Act, 1948: 1) The Act is applicable to non seasonal factories using power and employing 20 or more persons. 2) The ESI Scheme has already been implemented in different areas in all the State/Union Territories of India. 3) ESI Scheme being contributory in nature, all the employees in the factories or establishments to which the Act applies shall be insured. Which of the statements given above are correct? A) 1 & 2 B) 1 & 3 C) 2 & 3 D) 1,2,3 Ans. C Employees' State Insurance is a self-financing social security and health Insurance scheme for Indian workers. For all employees earning ₹15000 (US$240) or less per month as wages, the employer contributes 4.75 percent and employee contributes 1.75 percent, total share 6.5 percent. This fund is managed by the ESI Corporation (ESIC) according to rules and regulations stipulated there in the ESI Act 1948, which oversees the provision of medical and cash benefits to the employees and their family through its large network of branch offices, dispensaries and hospitals throughout India. ESIC is an autonomous corporation by a statutory creation under Ministry of Labour and Employment, Government of India. As it is a legal entity, the corporation can raise loans and take measures for discharging such loans with previous sanction of the central government and it can acquire both movable and immovable property and all incomes from the property shall vest with the corporations. The corporation can set up hospitals either independently or in collaboration with state government or other private entities, but most of the dispensaries and hospitals are run by concerned state governments. OR MOCK-3 Q.82 Q.82 With reference to the Employee’s State Insurance Corporation, which among the following are correct ? 1. It provides cash benefits to the insured persons in times of physical distress 2. Sickness & temporary disablement are exempted under this scheme Codes: A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. C APFC QUESTION 39. Q. Social security may provide cash benefits to persons faced with 1.Sickness and disability 2.Unemployment 3.Crop failure 4.Loss of the marital partner Select the correct answer using the codes given below: A) 1, 2 and 3 only B) 1, 2 and 4 only C) 3 and 4 only D) 1, 2, 3 and 4 Ans. A MOCK-3 Q.95 Q.95 In Context with Social Security Scheme consider the following statements: 1) This Fund has been administered by LIC to meet the needs of the all sections of the society. 2) Natural death & Death due to Accident are also covered under this scheme. Codes: A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. B OR MOCK-5 Q.26 Q.26 Match list I & List II & select the correct answer using the codes given below : List-I Acts a. Employees’ Provident Fund and Miscellaneous Provisions Act b. Employees’ State Insurance Act c. Maternity Benefit Act d. Employee’s Compensation Act List-II Year 1. 1952 2. 1948 3.1961 4. 1923 Codes: A) a-1, b-2, c-3 , d-4 B) a-1, b-2, c-4 , d-3 C) a-2, b-1, c-3, d-4 D) a-2 ,b-1, c-4, d-3 Ans. A The principal social security laws enacted in India are the following: The Employees’ State Insurance Act, 1948 (ESI Act) which covers factories and establishments with 10 or more employees and provides for comprehensive medical care to the employees and their families as well as cash benefits during sickness and maternity, and monthly payments in case of death or disablement. APFC QUESTION 40. Q.What is the chronological sequence of the following developments ? 1.Decline in the export of Indian cotton 2.Cotton boom in India 3.Civil war in America Ans. 1,3,2 MOCK-16 Q.71 Q.71 Which among the following statements are incorrect ? A) The jute industry was almost entirely owned by Europeans B) The cotton textile industry was almost wholly owned by Indians C) The cotton textile industry was small in size D) The growth of cotton industry was the result of government support Ans. D APFC QUESTION 41. Q. Statement (I): The effects of an income tax on consumption, saving and investment are micro effects. Statement (II): Income tax is an example of direct tax. Ans. D MOCK-27 Q.60 Q.60 Which of the following is not a direct tax? A) Income tax B) Wealth tax C) Sales tax D) Estate duty Ans. C APFC QUESTION 42. Q. Statement (I): Foreign investment may effect a country’s export performance. Statement (II): Inflow of foreign exchange may cause appreciation of local currency leading to a rise in the price of export commodities. Ans. A MOCK-6 Q.52 Q.52 Which of the following are the conditions of the FDI ? 1) stable exchange rates 2) Low deficit in balance of payments 3) Adequate money supply Codes: A) 1 & 3 B) 2 & 3 C) 1 & 2 D) 1,2,3 Ans. D MOCK-29 Q.80 Q.80 In context with the Registered Foreign Portfolio Investor (RFPI), which among the following are correct ? 1. This is the new category created by SEBI, to replace erstwhile QFIs 2. They can invest in corporate bonds but not in government bonds Codes: A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. D In economics, foreign portfolio investment is the entry of funds into a country where foreigners deposit money in a country's bank or make purchases in the country’s stockand bond markets, sometimes for speculation. Portfolio investments typically involve transactions in securities that are highly liquid, i.e. they can be bought and sold very quickly. A portfolio investment is an investment made by an investor who is not involved in the management of a company. This is in contrast to direct investment, which allows an investor to exercise a certain degree of managerial control over a company. Equity investments where the owner holds less than 10% of a company's shares are classified as portfolio investment. These transactions are also referred to as "portfolio flows" and are recorded in the financial account of a country's balance of payments. According to the Institute of International Finance, portfolio flows arise through the transfer of ownership of securities from one country to another. Foreign portfolio investment is positively influenced by high rates of return and reduction of risk through geographic diversification. The return on foreign portfolio investment is normally in the form of interest payments or non-voting dividends. APFC QUESTION 43. Q. Consider the following statements: Cellular technology evolves in stages called Generation (G), where 1.A Generation represents the number of subscribers; higher generation has more subscribers 2.2G technology has two standards CDMA and GSM 3.2G technology has CDMA standard and 3G has GSM standard Which of the above statements is/are correct? A) 1 and 3 only B) 1 only C) 3 only D) 2 only Ans. D MOCK-54 Q.70 Q.70 Statements: 1) 3G technology is also known as freedom Of Mobile Multimedia Access 2) 3G uses W-CDMA(Wideband Code Division Multiple Access) technology 3) In 4G technology IP Telephony is there Codes: A) 1 & 3 B) 2 & 3 C) 1 & 2 D) 1,2,3 Ans. D 3G, short for third Generation, is the third generation of mobile telecommunications technology. This is based on a set of standards used for mobile devices andmobile telecommunication use services and networks that comply with the International Mobile Telecommunications-2000 (IMT-2000) specifications by the International Telecommunication Union. 3G finds application in wireless voice telephony, mobile Internet access, fixed wireless Internet access, video calls and mobile TV. 3G telecommunication networks support services that provide an information transfer rate of at least 200 kbit/s. Later 3G releases, often denoted 3.5G and 3.75G, also provide mobile broadband access of several Mbit/s to smart phones and mobile modems in laptop computers. This ensures it can be applied to wireless voice telephony, mobile Internetaccess, fixed wireless Internet access, video calls and mobile TV technologies. A new generation of cellular standards has appeared approximately every tenth year since 1G systems were introduced in 1981/1982. Each generation is characterized by new frequency bands, higher data rates and non-backwards compatible transmission technology. The first release of the 3GPP Long Term Evolution (LTE) standard does not completely fulfill the ITU 4G requirements called IMT-Advanced. First release LTE is not backwards compatible with 3G, but is a pre-4G or 3.9G technology, however sometimes branded 4G by the service providers. Its evolution LTE Advanced is a 4G technology. WiMAX is another technology verging on or marketed as 4G. OR MOCK-11 Q.73 Q.73 In context with the GSM, which among the following are correct ? 1) The security model offers confidentiality and authentication, but limited authorization capabilities, and no non-repudiation. 2) In GSM, SIM is a detachable smart card containing the user's subscription information 3) It is an open source software that describes protocol for 2G cellular networks Codes: A) 1 & 3 B) 2 & 3 C) 1 & 2 D) 1,2,3 Ans. D APFC QUESTION 44. Q. Which of the following statements reflect the distinctive feature about 6th century Ganas or Sanghas? 1.The ancient Indian Ganas were oligarchies. 2.The ancient Indian Ganas were non-monarchal state. 3.Magadha, Kosala, Vatsa and Avanti were the most powerful states of that era. 4.The producers of Buddhist monastic order (Sangha) were patterned on Sangha politics Select the correct answer using the codes given below: A) 1, 2 and 3 only B) 1, 2, 3, 4 C) 1, 2 and 4 only D) 3 and 4 only Ans. A MOCK-13 Q.34 Q.34 Which of the following are not included in Mahajanapadas ? 1) Malla 2) Chedi 3) Panchala 4) Kosala 5) Anga Codes: A) 1,3,4,5 B) 2,3,4,5 C) 1,2,3,4 D) All above are included Ans. D Vriji, Matsaya, Surasena, Kasii, Magadha, Avanti, Gandhara, Kamboja are also included in Mahajanapadas APFC QUESTION 45. Q. Statements (I): Speaker of the Lok Sabha appoints the Chairman of the Public Accounts Committee. Statement (II): Members of Parliament, eminent persons from industry and trade are the members of the Public Accounts Committee. Ans. C MOCK-6 Q.90 Q.90 The Committee on Public Accounts under the Constitution of India is meant for 1. The examination of accounts showing the appropriation of sums granted by the House for the expenditure of the Government of India 2. scrutinizing report of the Comptroller and Auditor General 3. suggesting the form in which estimates shall be presented to the Parliament Select the correct answer using the code given below. A) 1 only B) 2 only C) 1 and 2 only D) 1,2 and 3 Ans. C Detailed Explanation on committees have been provided in Compilation of Explanations & Corrections file. APFC QUESTION 46. Q. What is the chronological sequence of the following events? 1.First Battle of Panipat 2.Vietnam War 3.French Revolution 4.First Gulf War 5.World War I Select the correct answer using the codes given below: A) 1, 5, 3, 2 and 4 B) 3, 1, 5, 4 and 2 C) 3, 1, 4, 5 and 2 D) 1, 3, 5, 2 and 4 Ans. D MOCK-48 Q.81 Q.81 Arrange the following historical events chronologically choosing the correct response : 1. French revolution 2. Glorious revolution 3. American war of independence 4. Russian revolution A) 1,2,3,4 B) 2,3,1,4 C) 2,1,4,3 D) 3,2,1,4 Ans. B APFC QUESTION 47. Q. Which of the following statements are correct in respect of ‘Stridhana’? 1.Various types of movable property gifted to a woman on various occasions during her lifetime. 2.Various types of movable property gifted to a woman at the time of her first marriage. 3.On the woman’s death, this wealth could be inherited by her children and husband. 4.On the woman’s death, this wealth could be inherited by her natural legally adopted children, with none of the sons-in-law, having any claim on any part thereof. Select the correct answer using the codes given below: A) 2 and 3 only B) 2 and 4 only C) 1 and 4 only D) 1 and 3 only MOCK-49 Q.93 Question is different but one can easily tick the correct answer after reading this question : Q.93 Which of the following are true of matrilineal societies? 1. Newly married couple stays with the women’s parents 2. As per the rules of inheritance, the property passes from mother to daughter 3. Women play a dominant role in the family 4. Examples of matrilineal societies are those of the Khasi and Jaintia tribes of Meghalaya Select the correct answer using the code given below : A) 1, 2, 3 and 4 B) 1 and 3 only C) 2 and 4 only D) 1, 2 and 4 only Ans. C APFC QUESTION 48. Q. In raising an object to a given height by means of an inclined plane, as compared with raising the object vertically, there is a reduction in: A) Force to be applied B) Work required C) Distance covered D) Friction force Ans. A MOCK-48 Q.64 SIMILAR QUESTION Q.64 Consider the following statements: 1) Pulling a lawn roller is easier than pushing it. 2) Pushing increases the apparent weight & hence the force of friction. Codes: A) Only 1 B) only 2 C) Both are correct D) Both are incorrect Ans. C APFC QUESTION 49. Q. A man buys apples at a certain price per dozen and sells them at 8 times price per hundered. What percentage does he gain or lose? A) 4% profit B) 6% profit C) 4% loss D) 6% loss INDIRECT QUESTION FROM MOCK PAPERS WHICH CAN BE SOLVED BY APPLYING THE LOGIC BUT NO DIRECT QUESTION FROM MOCKS. APFC QUESTION 50. Q. What are the disadvantages of Provident fund Scheme? 1.Money is inadequate for risks occurring early in working life. 2.Inflation erodes the real value of savings. 3.It generates forced saving that can be used to finance national development plans. Select the correct answer using the codes given below: A) 1 and 2 only B) 1 and 3 only C) 2 and 3 only D) 1 , 2 and 3 Ans. A MOCK-66 Q.21 Q.21 What is the monthly wage ceiling for becoming a subscriber of Employees’ Provident Fund Organization? A) Rs.5,000 B) Rs. 6,500 C) Rs. 10,500 D) Rs. 15000 Ans. D The government’s decision to fix pension entitlement of Rs.1,000 under the Employees’ Pension Scheme 1995 (EPFS-95) will immediately benefit 28 lakh pensioners who get less than this amount at present. The move to enhance the minimum wage ceiling for becoming a subscriber of the EPFO to Rs.15,000 a month is expected to bring 50 lakh additional formal sector workers under the ambit of the body. “The government has notified enhancement of wage ceiling to Rs.15,000 per month, fixed minimum monthly pension at Rs.1,000 under EPS-95 and enhanced the maximum sum assured under the Employees’ Deposit Linked Insurance (EDLI) Scheme to Rs.3 lakh,” . “Now the maximum sum assured under the EDLI works out to be Rs.3.60 lakh, including 20 per cent ad hoc benefit over the prescribed amount under the notification.” This means that in case an EPFO subscriber dies, his family will be entitled to a maximum sum assured of Rs.3.60 lakh instead of existing Rs.1.56 lakh. MOCK-65 Q.33 Q.33 PPF account is opened for a period of A) 5 years B) 10 years C) 15 years D) 20 years Ans.C Public Provident Fund (PPF) scheme is a popular long term investment option backed by Government of India which offers safety with attractive interest rate and returns that are fully exempted from Tax .Investors can invest minimum Rs. 500 to maximum Rs. 1,50,000 in one financial year and can get the facilities such as loan, withdrawal and extension of account. APFC QUESTION 51. Q. Consider the following items: 1.Consumer goods and services 2.Gross private domestic investment 3.Goods and services produced by the government 4.Net income from abroad Which of the above items are included in GNP? A) 1, 2 and 3 only B) 1, 2 and 4 only C) 3 and 4 only D) 1, 2, 3 and 4 Ans. D OR MOCK-48 Q.58 Q.58 Consider the following statements: 1) Any production of goods of a MNC in India comes in GNP. 2) Any NRI working in India comes in GDP. Codes: A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. D MOCK-8 Q.75 SIMILAR QUESTION Q.75 Which of the following is the basis for developing national income ? 1) Net profit earned & expenditure incurred by the state 2) Total revenue of the state 3) Production of goods & services Codes: A) 1 & 3 B) 2 & 3 C) Only 3 D) All are correct Ans. C A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted national income (NNI* adjusted for natural resource depletion). All are specially concerned with counting the total amount of goods and services produced within some "boundary". The boundary is usually defined by geography or citizenship, and may also restrict the goods and services that are counted. For instance, some measures count only goods and services that are exchanged for money, excluding bartered goods, while other measures may attempt to include bartered goods by imputing monetary values to them. The expenditure approach is basically an output accounting method. It focuses on finding the total output of a nation by finding the total amount of money spent. This is acceptable, because like income, the total value of all goods is equal to the total amount of money spent on goods. The basic formula for domestic output takes all the different areas in which money is spent within the region, and then combines them to find the total output. Where: C = household consumption expenditures / personal consumption expenditures I = gross private domestic investment G = government consumption and gross investment expenditures X = gross exports of goods and services M = gross imports of goods and services Note: (X - M) is often written as XN or less commonly as NX, both stand for "net exports" Difficulties in Measurement of National Income There are many difficulties when it comes to measuring national income, however these can be grouped into conceptual difficulties and practical difficulties: Conceptual Difficulties Inclusion of Services: There has been some debate about whether to include services in the counting of national income, and if it counts as output. Marxian economists are of the belief that services should be excluded from national income, most other economists though are in agreement that services should be included. Identifying Intermediate Goods: The basic concept of national income is to only include final goods, intermediate goods are never included, but in reality it is very hard to draw a clear cut line as to what intermediate goods are. Many goods can be justified as intermediate as well as final goods depending on their use. Identifying Factor Incomes: Separating factor incomes and non factor incomes is also a huge problem. Factor incomes are those paid in exchange for factor services like wages, rent, interest etc. Non factor are sale of shares selling old cars property etc., but these are made to look like factor incomes and hence are mistakenly included in national income. Services of Housewives and other similar services: National income includes those goods and services for which payment has been made, but there are scores of jobs, for which money as such is not paid, also there are jobs which people do themselves like maintain the gardens etc., so if they hired someone else to do this for them, then national income would increase, the argument then is why are these acts not accounted for now, but the bigger issue would be how to keep a track of these activities and include them in national income. APFC QUESTION 52. Q. Which of the following are the typical differences between private insurance programmes and the social insurance programmes? 1.Adequacy versus Equity 2.Voluntary versus Mandatory participation 3.Contractual versus Statutory rights 4.Funding Select the correct answer using the codes given below: A) 1, 2 and 3 only B) 1, 2 and 4 only C) 3 and 4 only D) 1, 2, 3 and 4 Ans. D MOCK-5 EXPLANATION OF Q.26 APFC QUESTION 53. Q. Whenever countries set up a free trade area they abolish all restrictions on trade among themselves and A) They establish a common external tariff on imports from outside countries B) They abolish all restrictions on imports from outside countries C) They abolish all restrictions on imports from other free trade areas D) Each country maintains on quotas on imports from outside countries Ans. D MOCK-2 Q.12 Q.12 Consider the following statements regarding argument for free trade: 1. Free trade leads to maximization of output, income and employment. 2. Free trade prevents monopoly. 3. Free trade protects domestic industries. Select the correct answer using the code given below: A) 1 only B) 1,2 & 3 C) 1 & 2 only D) 2 & 3 only Ans. C Free trade is a policy in international markets in which governments do not restrict imports or exports. Free trade is exemplified by the European Union / European Economic Area and the North American Free Trade Agreement, which have established open markets. Most nations are today members of the World Trade Organization(WTO) multilateraltrade agreements. However, most governments still impose some protectionist policies that are intended to support local employment, such as applying tariffs to imports or subsidies to exports. Governments may also restrict free trade to limit exports of Other barriers that may hinder trade include import quotas, taxes, and non-tariff barriers, such as regulatory legislation.natural resources. APFC QUESTION 54. Q. DNA fingerprinting is a technique used for the detection of A) Alzheimer’s disease B) Disputed parentage C) AIDS D) Yellow Fever Ans. B MOCK-4 Q.73 SIMILAR QUESTION Q.73 Which among the following parameters are employed in the biometrics ? 1) Finger prints 2) Facial characteristics 3) Palm geometry 4) Voice 5) Retina Codes : A) 1,3,4,5 B) 2,3,4,5 C) 1,2,3,4 D) All are correct Ans. D Iris ,Keystroke pattern , Gait are also included in biometrics APFC QUESTION 55. Q. Consider the following programmes: 1.Credit Linked Capital Subsidy Scheme 2.Micro Finance Programme 3.National Manufacturing Competitiveness Programme 4.Cluster Development Programme What is common in the above programmes? A) They are related to improving agriculture B) They are programmes related to Micro, Small and Medium Enterprises C) They are programmes to improve large scale industries D) They are programmes to improve the traditional cottage industries Ans. B MOCK-65 Q.30 Q.30 MSMED Act is applicable to A) Small enterprises only B) Medium enterprises only C) Micro, small & medium enterprises D) Micro enterprises only Ans. C Micro, Small And Meduim Enterprises Development Act, 2006 (MSMED,Act 2006) OR MOCK-48 Q.50 EXPLANATION : A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh. A small enterprise is an enterprise where the investment in plant and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore. A medium enterprise is an enterprise where the investment in plant and machinery is more than Rs.5 crore but does not exceed Rs.10 crore. APFC QUESTION 56. Q. Which of the following trends in FDI inflows are correct? 1.In 2003-04, the FDI equity inflow percentage growth was negative. 2.From 2004-05 to 2007-08, the FDI inflows were very high and positive. 3.In 2008-09, the FDI inflows were positive, but had decreased relative to the previous year. Select the correct answer using the codes given below: A) 1 and 3 only B) 1, 2 and 3 C) 2 and 3 only D) 1 and 2 only Ans. B MOCK-58 Q.36 Q.36 Consider the following statements regarding balance of payments of India during 2011-12 are correct? 1. Trade balance, which is defined as exports minus imports of goods and services was negative 2. Net invisibles , which includes remittances from Indians settled abroad, was positive 3. Net Foreign Direct Investment was negative Select the correct answer using the code given below : A) 1, 2 and 3 B) 1 and 2 only C) 2 only D) 1 and 3 only Ans. D APFC QUESTION 57. Q. Which one of the following software applications would be the most appropriate for performing numerical and statistical calculations? A) Database B) Spreadsheet C) Graphics Package D) Document Processor Ans. B MOCK-17 Q.95 Q.95 Which of the following are components of Central Processing Unit (CPU) ? A) Arithmetic logic unit, Mouse B) Arithmetic logic unit, Control unit C) Arithmetic logic unit, Integrated Circuits D) Control Unit, Monitor Ans. B APFC QUESTION 58. Q. Which of the following is not true of the Western Ghats ? A) UNESCO declared 39 places in the western ghats as world heritage sites in 2012 B) It is one of the eight hottest hotspots of biological diversity in the world C) It has two reserves & thirteen national parks D) ONGC surveys have recently found huge oil reserves Ans. D MOCK-29 Q.35 Q.35 The western coasts of India receive very high rainfall in summer mainly due to A) Tropical location B) Nearness to sea C) Western Ghats D) Himalayas Ans. C The Western Ghats or Sahyadri are a mountain range that runs almost parallel to the western coast of theIndian peninsula, located entirely in India. It is a UNESCO World Heritage Site and is one of the eight "hottest hotspots" of biological diversity in the world. It is sometimes called the Great Escarpment of India.The range runs north to south along the western edge of the Deccan Plateau, and separates the plateau from a narrow coastal plain, called Konkan, along the Arabian Sea. A total of thirty nine properties including national parks, wildlife sanctuaries and reserve forests were designated as world heritage sites - twenty in Kerala, ten in Karnataka, five in Tamil Nadu and four in Maharashtra. The range starts near the border of Gujarat and Maharashtra, south of the Tapti river, and runs approximately 1,600 km (990 mi) through the states of Maharashtra, Goa, Karnataka, Kerala and Tamil Nadu ending at Kanyakumari, at the southern tip of India. These hills cover 160,000 km2 (62,000 sq mi) and form the catchment area for complex riverine drainage systems that drain almost 40% of India. The Western Ghats block southwest monsoon winds from reaching the Deccan Plateau. The average elevation is around 1,200 m (3,900 ft). The area is one of the world's ten "Hottest biodiversity hotspots" and has over 7,402 species of flowering plants,1814 species of non-flowering plants, 139 mammal species, 508 bird species, 179 amphibian species, 6000 insects species and 290 freshwater fish species; it is likely that many undiscovered species live in the Western Ghats. At least 325 globally threatened species occur in the Western Ghats. APFC QUESTION 59. Q. Statement I :Speaker of Lok Sabha appoints the chairman of public account committee. Statement II : Members of Parliament , eminent persons from Industry & trade are the members of public account committee Ans. C (I is true & II is false) MOCK-6 Q.90 Q.90 The Committee on Public Accounts under the Constitution of India is meant for 1. The examination of accounts showing the appropriation of sums granted by the House for the expenditure of the Government of India 2. scrutinizing report of the Comptroller and Auditor General 3. suggesting the form in which estimates shall be presented to the Parliament Select the correct answer using the code given below. A) 1 only B) 2 only C) 1 and 2 only D) 1,2 and 3 Ans. C EXPLANATIONS ON COMMITTEES MANY TIMES HAVE BEEN EXPLAINED IN MOCK PAPERS APFC QUESTION 60. Q. The term "Dear Money" refers to : A) Low rate of Interest on housing loans B) Value of Money at the recession of stage C) High rate of Interest D) Savings gained due to increase in rate of interest on housing loans Ans. C MOCK-67 Q.97 EXPLANATION Q.97 The main goal is to obtain a wage increase “dearness” (cost of living) allowance of 35 percent for the textile laborers or to reach an agreement with the Mill Agents’ Group to settle the dispute through an arbitration process.

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