Account and Finance Questions Practice Question and Answer
8 Q: When was the first Savings Bank established in Hamburg?
1035 061b334688b0b930f5301d8c1
61b334688b0b930f5301d8c1- 11760false
- 21765true
- 31770false
- 41775false
- 5None of thesefalse
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Answer : 2. "1765"
Q: What is the upper limit of annual household income for microfinance borrowers in rural areas?
1033 06441220732185cce374b418d
6441220732185cce374b418d- 1₹1.5 lakhfalse
- 2₹1 lakhfalse
- 3₹1.25 lakhtrue
- 4₹2 lakhfalse
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Answer : 3. "₹1.25 lakh"
Q: Per Capita Income is equal to–
1031 06513d63b10a18f508203e074
6513d63b10a18f508203e074- 1National Income/Total population of the countrytrue
- 2National Income + Populationfalse
- 3National Income - Populationfalse
- 4National Income x Populationfalse
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Answer : 1. "National Income/Total population of the country "
Explanation :
The average income of the people of a country in a particular year is called Per Capita Income for that year. So, it is National Income divided by population.
Per Capita Income
= National Income/Total population of the country
Though Per Capita Income is more reliable than GNP for many particular purpose.
Q: Which of the following documents is/are considered as officially valid document to satisfy KYC norms for opening a Bank account?
A. Passport
B. P A N
C. Aadhar number issued by Unique Identification Authority of India
1021 061d84b28498f632d55002414
61d84b28498f632d55002414A. Passport
B. P A N
C. Aadhar number issued by Unique Identification Authority of India
- 1Only (A)false
- 2Only (B)false
- 3Only (A) and (B)false
- 4All (A), (B) and (C)true
- 5Only (B) and (C)false
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Answer : 4. "All (A), (B) and (C) "
Q: Which of the following branch of the World Bank was formed in the year 1992 for quick financial action and innovation activities?
1009 061b766d37a5b3510e9c64397
61b766d37a5b3510e9c64397- 1IFCfalse
- 2IDFtrue
- 3MIGAfalse
- 4ICSIDfalse
- 5None of thesefalse
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Answer : 2. "IDF"
Q: The FRBMA was enacted in 2003, which set targets for the government to reduce fiscal deficits. What does FRBMA stand for?
1008 063072d53e864816d0050c2bb
63072d53e864816d0050c2bb- 1Fiscal Relations and Budget Maintenance Actfalse
- 2Financial Relations and Budget Management Actfalse
- 3Financial Responsibility and Budget Maintenance Actfalse
- 4Fiscal Responsibility and Budget Management Acttrue
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Answer : 4. "Fiscal Responsibility and Budget Management Act"
Q: In which year, RBI was nationalized?
1007 062de83f7313eb40eb8a034bc
62de83f7313eb40eb8a034bc- 11939false
- 21949true
- 31959false
- 41969false
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Answer : 2. "1949"
Q: Which one of the following is the most appropriate reason for inequalities in income?
1000 06513d6c7cb11fc5036eb8684
6513d6c7cb11fc5036eb8684- 1Racial factorsfalse
- 2Lack of opportunitiestrue
- 3Inheritance from family environmentfalse
- 4Differences in abilityfalse
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Answer : 2. "Lack of opportunities"
Explanation :
In India, on the one hand, Per Capita Income is low and on the other hand, there is large inequality in the distribution of wealth and income, according to Human Development Reports. Lack of opportunity means that its most valuable assets its people is not being fully used. It is appropriate reason of income gap.