1. Which among the following legal rights are guaranteed to the children in India?
1. The Right to Education
2. The Right to Information
3. The Right to Nutrition
a. Only 1 and 2
b. Only 2 and 3
c. Only 1 and 3
d. All of the above
Answer :

2. Consider the following statements with respect to the Finance Commission:
1. Article 280 the Constitution of India provides for a Finance Commission.
2. Finance Commission is a Quasi-Judicial Body.
3. It is a constituted by the President of India every fifth year.
a. Only 1 and 2
b. Only 2 and 3
c. Only 1 and 3
d. All of the above
Answer :
3. Consider the following:
1. Fundamental Rights
2. Fundamental Duties
3. Directive Principles of State Policy Which among the above parts of the Constitution enshrine
distinct provisions for the education of children from 0 to 6 years?
a. Only 1 and 2
b. Only 3
c. Only 2 and 3
d. All of the above
Answer :
4. Consider the following statements:
1. The Constitutional cases or references can be made by the President to Supreme Court under the Art. 143.
2. These cases are decided by a Benchconsisting of at least five judges.
a. Only1
b. Only2
c.Both 1 and 2
d. None of the above
Answer :
5. Consider the following statements:
1. National Integration Council (NIC) was constituted in 1961 for the first time
2. Prime Minister is the Chairman of the National Integration Council (NIC)
3. In 2005, the United Progressive Alliance (UPA) Government reconstituted the National Integration Council after a gap of 12 years having held its meeting in 1992
a. Only 1 and 2
b. Only 1 and 3
c. Only 2 and 3
d .All of the above
Answer :
6. Consider the following stateent w.r.tnomination of Anglo-Indian Community members to the Lok Sabha and State Legislative Councils:
1. President of India can nominate two members to the Lok Sabha from the Anglo-Indian Community if the Community is not adequately represented in the Lok Sabha.
2. Governor can nominate one member from the Anglo-Indian Community to the State Legislative Assembly if the Community is not adequately represented in the Assembly.
a. Only1
b. Only2
c.Both 1 and 2
d. None of the above
Answer :
7. Consider the following:
1. Ministry of Personnel, Public Grievances& Pensions
2. Ministry of Planning
3. Department of Atomic Energy
4. Department of Space
a. Only 1 and 2
b. Only 1,3 and 4
c. Only 3 and 4
d.All of the above
Answer :
8. Consider the following statements w.r.t the Planning Commission:
1. The Planning Commission was established in March 1950.
2. It was established by an executive resolution.
3. It is established on the recommendations of the Advisory Planning Board constituted in 1949, under the chairmanship of Shri Jawaharlal Nehru.
a. Only 1 and 2
b. Only 1 and 3
c. Only 2 and 3
d.All of the above
Answer :
9. With respect to a Nidhi Company, consider the following statements:
1. Nidhi in the Indian context/language means “knowledge”.
2. In the Indian financial sector it refers to any mutual benefit society.
3. The loans are given not only to members but also to non-members who are Indian citizens.
4. RBI is empowered to issue directions to them in matters relating to their deposit acceptance activities.
a. 1 and 4
b. 2 and 4
c. 1, 2 and 3
d. 2, 3 & 4
Answer :
10. Which of the following Acts are administered by the Ministry of Finance?
1. Foreign Exchange Management Act
2. Companies Act
3. Fiscal Responsibilty Budget Management Act
4. Competition Act
5. Societies Registration Act
a. 1 and 3
b. 2 and 4
c. 1, 3 & 5
d. 1, 2 and 3
Answer :
11. Which of the following can be considered as scheduled commercial banks in India?
1. State Bank of India and its Associates
2. Nationalised Banks
3. Foreign Banks
4. Regional Rural Banks
Answer :
5. Other Scheduled Commercial Banks (Private Banks)
a. 1 and 2
b. 1, 2 and 4
c. 1, 2, 4 and 5
d. 1, 2, 3, 4 and 5
Answer :
12. Public Debt in India includes which of the following:
1. Internal debt 
2. External debt
3. Public Account Liabilities
a. 1 and 2
b. 1 and 3
c. 1, 2 and 3
d. None of the above
Answer :
13. According to the Indian Constitution, consider the following statements:
1. The Central Government can borrow from both within and outside India.
2. The State Government can borrow from both within and outside India.
3. The Central Government cannot give guarantees with respect to loans raised by any state.
4. A state cannot raise any loan without the consent of the centre if there is outstanding on any part of a loan made to the state by the centre.
a. 1 and 3
b. 1 and 4
c. 2 and 3
d. 2 and 4
Answer :
14. With respect to the Liquidity Adjustment Facility (LAF), consider the following statements:
1. Liquidity adjustment facility (LAF) is afiscal policy tool.
2. LAF is used to aid banks in adjusting their monthly mismatches in liquidity.
3. LAF consists of repo and reverse repooperations.
a. Only 1
b. Only 3
c. 1 and 2
d. 1, 2 and 3
Answer :
15. A lot of importance is being given to Primary Deficit these days.
a. It refers to the difference between fiscal deficit of the current year and interst payments on the previous borrowings.
b. It refers to the difference between fiscal deficit of the current year and the effective revenue deficit.
c. It refers to the fiscal deficit adjusted to inflation.
d. It is the fiscal deficit minus grants given to State/UT for creation of capital assets.
Answer :
16. With regard to the Union Budget, which of the following fall under the category of Capital Receipts?
1. Disinvestment proceeds
2. Interest receipts on loans given.
3. Recovered loans
4. Dividend & profits on Government investments
5. Grants received
6. Small savings funds raised from the public in the form of Post Office deposits etc.
a. 2, 3 and 5
b. 3, 5 and 6
c. 1, 3 and 6
d. 1, 3 and 4
Answer :

17. With respect to the proposed Goods and Services Tax, consider the following statements:
1. GST comes under the broad spectrum of what is known as Value A dd ed Tax.
2. GST would be an origin based tax asagainst the present concept of destination based tax.
3. It would be a dual GST with the Centre and the States simultaneously levying it on a comm on base.
4. GST will subsume customs duties.
a. 1 and 2
b. 1 and 3
c. 2 and 3
d. 3 and 4
Answer :
18. Which of the following taxes fall under the State list of the Indian Constitution?
1. Entertainment Tax
2. Luxury Tax
3.Corporation Tax 
4.Stamp Duty
5. Customs Duty
a. 1 and 2
b. 1, 3 and 4
c. 2, 4 and 5
d. 1, 2 and 4
Answer :
19. With respect to the Index of Industrial Production, consider the following statements:
1. It measures the long term changes in the volume of production of a basket of industrial
products.
2. It is compiled and published by Central Statistical Organisation (CSO).
3. It is expressed in terms of an inde x number.
4. The all India IIP was first complied by Office of Economic Adviser , Ministry of Commerce & Industry with the base year 1947.
a. 1 and 2
b. 2 and 3
c). 1, 2 and 3
d. 2, 3 and 4
Answer :
20. Which of the following sectors are included in calculating the Index of Industrial Production in India:
1. Mining 
2. Refining
3. Manufacturing 
4. Tr ansport
5. Electricity
a. 1, 2 and 3
b. 3, 4 and 5
c. 1, 3 and 5
d. 1, 3 and 4
Answer :
21. The new proposed Price Stabilisation Fund Scheme will be implemented for which of the following items initially?
1. Tea
2. Rubber
3. Onion
4. Coffee
5. Potato
a. 3 and 5
b .1, 2 and 4
c .1, 3, 4 and 5
d. 1, 2, 4 and 5
Answer :
22. With respect to the Market Stabilisation Scheme (MSS) consider the following statements:
1. It aims at controlling the level of inflation in the market.
2. The amount raised under the MSS does not get credited to the Government Account.
3. The MSS constitutes an arrangement aiding in liquidity absorption.
a. Only 1
b. 1 and 2
c. 1 and 3
d. 2 and 3
Answer :
23. With respect to the Essential Commodities Act, consider the following statements:
1. The Act provides for the regulation and control of production of commodities which are declared as essential.
2. The Act provides for the regulation and control of distribution and pricing of commodities which are declared as essential.
3. The enforcement/implementation of the provisions of the Act lies with the State/UT Governments.
4. The Drug Price Control Order (DPCO) has been issued under the powers of the ECA.
a. 1 and 3
b. 1, 2 and 3
c. 1, 3 and 4
d. 1, 2, 3 and 4
Answer :
24. Consider the following statements regarding the new proposed Price Stabilisation Fund:
1. It will operate as a central sector scheme.
2. It will be used for perishable non–horticultural commodities
3. Horticultural commodities are covered under the Minimum Support Price (MSP).
a. Only 1
b. 1 and 2
c. 1 and 3
d. 2 and 3
Answer :
25. Which of the following best describes a Capitation Tax?
a. It is the tax applied to the immovableproperty of an individual.
b. It is the tax applied to the movable property of an individual.
c. It is the tax applied to an individual in accordance with the census.
d. It is the tax applied to an individual’s tangible capital assets.
Answer :
26. The status of “Special Category States”is given to certain states to target the fund flow for better balanced growth.
1. Rajasthan 
2. Uttarakhand
3. Bihar 
4. Jammu & Kashmir
5. Himachal Pradesh
6. Jharkhand
a. 1, 5 and 6
b. 2, 4 and 5
c. 3, 5 and 6
d. 1, 3 and 6
Answer :
27. Core inflation has been considered a preferred tool for framing long-term policy. With regard to it consider the following statements:
1. Core Inflation, also known as underlying inflation, is a measure of inflation which excludes items that face volatile price movement.
2. Central Banks target core inflation, as it reflects the supply side pressure in the economy.
3. Unlike core inflation, headline inflation takes into account changes in the price of food and energy.
a. Only 1
b. 1 and 2
c. 1 and 3
d. 1, 2 and 3
Answer :
28. Which of the following form the major components of the Wholesale Price Index in India?
1.Primary Articles 
2.Fuel & power
3. Services 
4. Manufactured Products
a. 1, 2 and 4
b. 2, 3 and 4
c. 1, 3 and 4
d. 1, 2 and 3
Answer :