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Latest PFRDA Grade A Finance Exam Question (Objective Questions), MCQ in English

Subjects : Finance and Accounts

Question Bank PFRDA Grade A (Finance) Exam Phase I (Paper 2) - English
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Finance and Accounts

Question 1Single Answer
Who is Father of Scientific Management ?
  1. A
    Henry Fayol
  2. B
    Elton Mayo
  3. C
    Chester Bernard
  4. D
    F. W. Taylor
Question 2Single Answer
Appointment of a Company Secretary is made by –
  1. A
    Promoters
  2. B
    Board of Directors
  3. C
    Debenture holders
  4. D
    Government
Question 3Single Answer
Bonus Shares are issued to –
  1. A
    Equity Shareholders
  2. B
    Preference Shareholders
  3. C
    Debenture Holders
  4. D
    Secured Creditors
Question 4Single Answer
Under which principle, all the rights of an insured are transferred to insurance company after making payment of claim ?
  1. A
    Subrogation
  2. B
    Utmost good faith
  3. C
    Contribution
  4. D
    Average clause
Question 5Single Answer
Rs. 10,000 spent on the replacement of worn out parts of an electronic machinery is treated as –
  1. A
    Capital expenditure
  2. B
    Revenue expenditure
  3. C
    Deferred revenue expenditure
  4. D
    Capital loss
Question 6Single Answer
Which of the following is the apex financial institution in India ?
  1. A
    Reserve Bank of India
  2. B
    Securities and Exchange Board of India
  3. C
    Insurance Regulatory and Development Authority of India
  4. D
    Pension Fund Regulatory and Development Authority of India
Question 7Single Answer
The Reserve Bank of India is responsible for :
  1. A
    Issuing currency notes
  2. B
    Regulating the banking sector
  3. C
    Maintaining the country's foreign exchange reserves
  4. D
    All of the above
Question 8Single Answer
The Securities and Exchange Board of India (SEBI) is responsible for ?
  1. A
    Regulating the securities market
  2. B
    Protecting the interests of investors
  3. C
    Promoting fair and transparent trading practices
  4. D
    All of the above
Question 9Single Answer
The Insurance Regulatory and Development Authority of India (IRDAI) is responsible for :
  1. A
    Regulating the insurance sector
  2. B
    Protecting the interests of policyholders
  3. C
    Promoting fair and transparent insurance practices
  4. D
    All of the above
Question 10Single Answer
The Pension Fund Regulatory and Development Authority of India (PFRDA) is responsible for :
  1. A
    Regulating the pension sector
  2. B
    Protecting the interests of pension subscribers
  3. C
    Promoting fair and transparent pension practices
  4. D
    All of the above
Question 11Single Answer
Which of the following is NOT a function of a financial regulatory body ?
  1. A
    Issuing licenses to financial institutions
  2. B
    Conducting inspections and audits of financial institutions
  3. C
    Investigating and prosecuting financial crimes
  4. D
    Managing the country's fiscal policy
Question 12Single Answer
Which of the following is an example of a regulatory measure that can be taken by a financial regulatory body ?
  1. A
    Raising or lowering interest rates
  2. B
    Setting limits on lending
  3. C
    Requiring financial institutions to disclose certain information
  4. D
    All of the above
Question 13Single Answer
What is the importance of financial regulation ?
  1. A
    To protect consumers
  2. B
    To promote financial stability
  3. C
    To ensure fair and transparent markets
  4. D
    All of the above
Question 14Single Answer
Which of the following is a challenge faced by financial regulators in India ?
  1. A
    The growing complexity of the financial system
  2. B
    The increasing use of technology
  3. C
    The globalization of financial markets
  4. D
    All of the above
Question 15Single Answer
What are the two main categories of taxes in India ?
  1. A
    Income tax and property tax
  2. B
    Direct taxes and indirect taxes
  3. C
    Central taxes and state taxes
  4. D
    Corporate tax and sales tax
Question 16Single Answer
Which of the following is an example of a direct tax in India ?
  1. A
    Goods and Services Tax (GST)
  2. B
    Value Added Tax (VAT)
  3. C
    Income Tax
  4. D
    Excise Duty
Question 17Single Answer
Which tax is imposed on the income earned by individuals and businesses in India ?
  1. A
    Sales Tax
  2. B
    Property Tax
  3. C
    Income Tax
  4. D
    Service Tax
Question 18Single Answer
What is the maximum rate of income tax for individuals and Hindu Undivided Families (HUFs) in India as of the knowledge cutoff date in 2021 ?
  1. A
    10 %
  2. B
    20 %
  3. C
    30 %
  4. D
    40 %
Question 19Single Answer
Which of the following taxes is considered an indirect tax in India ?
  1. A
    Property Tax
  2. B
    Goods and Services Tax (GST)
  3. C
    Income Tax
  4. D
    Wealth Tax
Question 20Single Answer
What can be done to improve financial regulation in India ?
  1. A
    Increase the resources available to financial regulators
  2. B
    Enhance coordination between different regulatory bodies
  3. C
    Strengthen the enforcement of financial regulations
  4. D
    All of the above
Question 21Single Answer
Under the GST regime in India, which entity is responsible for the collection of GST ?
  1. A
    State Governments
  2. B
    Central Government
  3. C
    Local Municipalities
  4. D
    Both Central and State Governments
Question 22Single Answer
The RBI Act, 1934 established the ?
  1. A
    Reserve Bank of India
  2. B
    Securities and Exchange Board of India
  3. C
    Insurance Regulatory and Development Authority of India
  4. D
    Pension Fund Regulatory and Development Authority of India
Question 23Single Answer
GST stands for :
  1. A
    Goods and Services Tax
  2. B
    General Sales Tax
  3. C
    Gross State Tax
  4. D
    Goods and Sales Tax
Question 24Single Answer
What is the main objective of the Goods and Services Tax (GST) in India ?
  1. A
    To increase the burden of taxation on businesses
  2. B
    To streamline and simplify the indirect tax system
  3. C
    To eliminate all forms of taxation
  4. D
    To reduce the rates of direct taxes
Question 25Single Answer
The SEBI Act, 1992 established the :
  1. A
    Securities and Exchange Board of India
  2. B
    Insurance Regulatory and Development Authority of India
  3. C
    Pension Fund Regulatory and Development Authority of India
  4. D
    Reserve Bank of India
Question 26Single Answer
Which body is responsible for recommending the distribution of tax revenues between the Central and State Governments in India ?
  1. A
    Ministry of Finance
  2. B
    Planning Commission
  3. C
    Finance Commission
  4. D
    Reserve Bank of India (RBI)
Question 27Single Answer
The IRDAI Act, 1999 established the :
  1. A
    Insurance Regulatory and Development Authority of India
  2. B
    Pension Fund Regulatory and Development Authority of India
  3. C
    Securities and Exchange Board of India
  4. D
    Reserve Bank of India
Question 28Single Answer
The PFRDA Act, 2011 established the :
  1. A
    Pension Fund Regulatory and Development Authority of India
  2. B
    Securities and Exchange Board of India
  3. C
    Insurance Regulatory and Development Authority of India
  4. D
    Reserve Bank of India
Question 29Single Answer
How often is the Finance Commission in India constituted to recommend the distribution of tax revenues ?
  1. A
    Every year
  2. B
    Every two years
  3. C
    Every three years
  4. D
    Every five years
Question 30Single Answer
Which of the following is NOT a member of the Financial Stability and Development Council ?
  1. A
    Reserve Bank of India
  2. B
    Securities and Exchange Board of India
  3. C
    Insurance Regulatory and Development Authority of India
  4. D
    Ministry of Finance
Question 31Single Answer
The Fiscal Policy of a country primarily deals with :
  1. A
    Tax evasion
  2. B
    Tax collection
  3. C
    Government spending and taxation
  4. D
    Monetary policy
Question 32Single Answer
The RBI has a Monetary Policy Committee (MPC) that sets interest rates in India. The MPC consists of how many members ?
  1. A
    4
  2. B
    6
  3. C
    8
  4. D
    10
Question 33Single Answer
What is the primary goal of fiscal policy in India ?
  1. A
    To maximize inflation
  2. B
    To minimize government spending
  3. C
    To achieve economic stability and growth
  4. D
    To reduce the fiscal deficit
Question 34Single Answer
SEBI has a board of directors that consists of how many members ?
  1. A
    9
  2. B
    11
  3. C
    13
  4. D
    15
Question 35Single Answer
What is the Fiscal Responsibility and Budget Management Act (FRBM) in India ?
  1. A
    A law that restricts individuals from borrowing money
  2. B
    A law that aims to reduce the fiscal deficit and promote fiscal discipline
  3. C
    A law that encourages excessive government spending
  4. D
    A law that abolishes all taxes
Question 36Single Answer
Which of the following is NOT an essential element of a valid contract under the Indian Contract Act, 1872?
  1. A
    Offer
  2. B
    Acceptance
  3. C
    Registration
  4. D
    Consideration
Question 37Single Answer
According to Section 2(h) of the Indian Contract Act, 1872, a contract is an agreement enforceable by law. What is the term used for an agreement not enforceable by law?
  1. A
    Void Agreement
  2. B
    Voidable Contract
  3. C
    Bilateral Contract
  4. D
    Executed Contract
Question 38Single Answer
A contract is formed when the offer is accepted. What term is used to describe the acceptance of an offer?
  1. A
    Consideration
  2. B
    Promise
  3. C
    Proposal
  4. D
    Consent
Question 39Single Answer
In which of the following cases does an agreement become a contract?
  1. A
    When it is made with a promise
  2. B
    When both parties are legally competent
  3. C
    When the offer and acceptance meet the criteria prescribed by law
  4. D
    All of the above
Question 40Single Answer
Under Indian Contract Law, the term "Consideration" refers to:
  1. A
    A gift
  2. B
    A past voluntary act
  3. C
    A lawful act performed in exchange for a promise
  4. D
    A moral obligation
Question 41Single Answer
The Indian Contract Act, 1872 became operative from the date of
  1. A
    25th April 1872
  2. B
    25th May 1872
  3. C
    1st  September, 1872
  4. D
    18th September, 1872
Question 42Single Answer
The India Contract Act, 1872 extends to
  1. A
    The whole of India
  2. B
    The whole of India except the state of Jammu & Kashmir
  3. C
    The whole of India except the state of Jammu & Kashmir, Nagaland and Sikkim
  4. D
    None of the above
Question 43Single Answer
The Interpretation clause of the Indian Contract Act, 1872 has been provided in
  1. A
    Section 1
  2. B
    Section 2
  3. C
    Section 3
  4. D
    Under none of the above
Question 44Single Answer
'Offer' or 'Proposal' is defined in Indian Contract Act in -
  1. A
    Section 2(a)
  2. B
    Section 2(b)
  3. C
    Section 2(d)
  4. D
    Section 2(e)
Question 45Single Answer
A and B are friends. A told to B to show him a new movie in a posh theature, upon which A promised to offer him lunch in a 5 star hotel. But A gave lunch to B in a road side dhaba, Decide A's liability using codes given below -
  1. A
    A is liable because there was intention to create legal relation between A and B
  2. B
    A is not liable because there was no intention to create legal relation between A and B
  3. C
    B was mistaken
  4. D
    A was mistaken
Question 46Single Answer
Which of the following defines inflation?
  1. A
    A decrease in the general price level.
  2. B
    A sustained increase in the general price level.
  3. C
    A stable price level.
  4. D
    A rapid increase in the value of money.
Question 47Single Answer
What is the primary cause of demand-pull inflation?
  1. A
    Increased production costs.
  2. B
    Increased aggregate demand.
  3. C
    Decreased money supply.
  4. D
    Decreased government spending.
Question 48Single Answer
Which of the following is a consequence of high inflation?
  1. A
    Increased purchasing power.
  2. B
    Decreased uncertainty.
  3. C
    Erosion of purchasing power.
  4. D
    Increased savings.
Question 49Single Answer
What is deflation?
  1. A
    A rapid increase in prices.
  2. B
    A sustained decrease in the general price level.
  3. C
    A stable price level.
  4. D
    An increase in the value of money.
Question 50Single Answer
Which of the following is a potential effect of deflation?
  1. A
    Increased investment.
  2. B
    Increased consumer spending.
  3. C
    Delayed consumption and investment.
  4. D
    Increased economic growth.
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