[Solution] – The 10 PM Daily Quiz – 2nd May, 2016

We posted 7 questions in 10 PM Daily Quiz on 2nd May, 2016. Thanks for the amazing response. These questions will help you polish concepts based on current affairs. In case you have not attempted them, please attempt them by clicking below.

• 10 PM Daily Quiz – 2nd May, 2016

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Q.1) Consider the statements regarding GDP:

1. GDP represents the monetary value of all goods and services produced within a nation’s geographic borders over a specified period of time.
2. High growth of GDP is a sufficient measure for a good economy.

Select the correct statement/s using the codes given below:

a) 1 only
b) 2 only
c) Both are correct
d) Neither is true

Answer a

Explanation: click here

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Q.2) Consider the statements regarding Hoarding:

1. It is the practice of obtaining and holding scarce resources, possibly so that they can be sold to customers for profit.
2. Government is the biggest hoarder in the agricultural market.

Select the correct statement/s using the codes given below:

a) 1 only
b) 2 only
c) Both are correct
d) Neither is true

Answer c

Explanation click here

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Q.3) Consider the statements regarding indirect tax:

1. A tax levied on goods and services rather than on income or profits.
2. Indirect taxes does not affect all Indians alike, rich and poor.
3. Poor generally give higher indirect tax as compared to wealthier.

Select the correct statements using the codes given below:

a) 1 and 2 only
b) 2 and 3 only
c) 1 and 3 only
d) All are correct

Answer c

Explanation click here

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Q.4) Consider the statements regarding NPA’s:

1. A non performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for a period of 120 days.
2. Public sector banks have more NPA’s than Private sector banks and foreign banks.
3. Reasons for higher NPA’s in recent years is overall economic downturn domestically and globally.
4. There are many factors causing NPA’s but it has found that it does not have willful defaulters as a cause for NPA.

Select the correct statements using the codes given below:

a) 1 and 2 only
b) 1, 2 and 3 only
c) 2, 3 and 4 only
d) All are correct

Answer c

Explanation: click here

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Q.5) Consider the following statements regarding Banks Board Bureau (BBB)

1. RBI Governor is the ex-officio member of the BBB.
2. BBB has been set up by an act of Parliament.
3. It gives recommendations for appointment of full-time Directors as well as non-Executive Chairman of PSBs.

Select the correct answer using the codes given below:
a) 1, 2 and 3
b) 2 and 3 only
c) 1 and 2 only
d) 3 only

Answer-d

Explanation:- RBI Deputy Governor is the ex-officio member of the BBB. BBB has been set up by the Executive.

 

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Q.6) Direct Benefits Transfer for LPG(DBTL) Consumers Scheme is also known as

a) UJALA
b) ROSHNI
c) PAHAL
d) UTKARSH

Answer-c

Explanation:– Pratyaksha Hastaantarit Laabh (PAHAL) scheme

• The scheme was formally launched as Direct Benefit Transfer Scheme for LPG subsidy in 2013 in 291 districts under the aegis of Union Ministry of Petroleum and Natural Gas.
• Under the scheme, subsidized liquefied petroleum gas (LPG) cylinders are sold at market rates and consumers are entitled to receive LPG subsidy directly into their bank accounts.
• The scheme aims at eliminating duplication or bogus LPG connections and its diversion. It also seeks to meet substantive savings in LPG subsidy.

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Q.7)   Consider the following statements regarding  Pradhan Mantri Ujjwala Yojana (PMUY)

1. The tagline for the scheme is Swachh Indhan, Swachh Bharat.
2. It is for the first time that  Union Ministry of Petroleum and Natural Gas is implementing a welfare scheme.

Select the correct statement/s using the codes given below:

a) 1 only
b) 2 only
c) Both are correct
d) Neither is true

Answer-b

Explanation:- Click here.