GK QUIZ

1. 'Equity schemes managed strong NAV gains, which boost their assets'
was news in some financial newspapers. What is the full form of the
term NAV as used in above head lines ?
(A) Nil Accounting Variation (B) Net Accounting Venture
(C) Net Asset Value (D) New Asset Venture
(E) None of these
2. As per reports published in various newspapers, mutual fund companies
showed 94 percent growth in their total profits during 2009-10. This
means the profits earned by these companies were 94 percent
(A) Of the total investments they made collectively during the year
(B) More than their profits during previous year
(C) Of the total capital of the company
(D) Less than the total expenditure of the companies
(E) None of these
3. As per the news published in various newspapers Pakistan has imposed
15 percent regulatory duty on exports of cotton yarn. Why countries
are required to impose regulatory duties on exports of some of their
commodities while in the eyes of the layman more exports means more
foreign exchange and more revenue for the Government ?
(1) It is done to control the exports of a commodity as it may be
needed more in local markets than in foreign countries.
(2) It is done to control the general inflation in the country as the
inordinate exports of various commodities create imbalance and
also cost push inflation.
(3) It is a good short time measure to collect more revenue from the
exports of the commodity which is in high demand in overseas
markets.
(A) Only A (B) Only B
(C) Only C (D) All A, B & C
(E) None of these
4. As per the reports published in some major newspapers "ADAG
companies" made good profits during the year. ADAG companies are
popularly known as _______ .
(A) companies owned, by Tata Group
(B) Aditya Birla Companies
(C) Reliance companies
(D) Companies owned by Aptech
(E) None of these
5. ONGC-Mittal Energy finds hydrocarbons in two blocks OPL-279 & OPL-
285 in Nigerian sea was the news in some major newspapers. What is
the full form of the term OPL as used in the above head line?
(A) Oil Prospecting License
(B) Ownership & Partnership Lease
(C) Overseas Private Line
(D) ONGC-Petroleum Ltd.
(E) None of these
6. "Mutual Funds reported exceptional performance in 2009-10" was the
news in major financial newspapers recently. What is a mutual fund ?
(1) A type of collective investment scheme that pools money from
many investors and invests it in stocks, bonds or other money
market instruments.
(2) It is a subsidiary of a bank or financial company created specially
to raise money to be invested in a particular industry i.e. housing
or insurance etc. The money raised thus cannot be invested
anywhere else.
(3) When several banks and financial companies come together and
create a common pool of money to fund mega infrastructural
project like bridges, roads, power plants etc. the common pool is
known as Mutual Fund.
(A) Only A (B) Only B
(C) Only C (D) All A, B & C
(E) None of these
7. As we all know the Bank Rate at present is fixed at 6%. What does it
mean in context to the banking operations ?
(A) No bank will be able to give loan to any party on a rate lower than
the Bank Rate.
(B) Bank should give loan to their priority sector
customers/borrowers at the rate of 6% only. They cannot charge
less or more than this from their priority sector clients.
(C) Banks are required to invest 6% of their total capital on financial
inclusion and inclusive banking operations.
(D) Banks will be required to give 6% of their total deposits to the
Government of India for meeting its Balance of Trade
requirements.
(E) None of these
8. As per the reports in various newspapers many private companies are
trying to obtain the licences to launch a banking company in India.
Which of the following organisations/agencies issue the licence for the
same ?
(A) Securities & Exchange Board of India (SEBI)
(B) Indian Institute of Banking & Finance (IIBF)
(C) Indian Bank Association
(D) Registrar of Companies
(E) None of these
9. We very frequently read about Europe's Sovereign-debt crisis these
days. Which of the following statement/s is/ are true about the same ?
(1) In early 2010 the Euro crisis developed in some countries like
Greece, Spain & Portugal.
(2) This created a credit default swap between the countries of the
European-Union.
(3) SAARC countries have offered some assistance to some of
severely affected countries like Portugal, Spain & Greece.
(A) Only A (B) Only B
(C) Only A & B (D) All A, B & C
(E) None of these
10. As we all know the RBI has raised the Cash Reserve Ratio (CRR) by 25
bps, in April 2010. What action banks will have to take to implement the
same ?
(1) They will have to deposit some more money with the RBI as a
reserved money.
(2) Banks will. be required to give some more loan to projects of the
priority sector.
(3) Banks will be required to give loan equivalent to the CRR to the
Government of India for its day-to-day expenditure as and when
required.
(A) Only A (B) Only B
(C) Only C (D) Only A & B
(E) All A, B & C





Answer Key
1.(C) 2.(D) 3.(A) 4.(C) 5.(A) 6.(C) 7.(B) 8.(A) 9.(D) 10.(C)