Finance GK Questions for CMAT – Download PDF

Finance GK Questions for CMAT 2022
Finance GK Questions for CMAT 2022

Finance GK Questions for CMAT 2022 – Download PDF

Here you can download CMAT 2022 – important Finance GK Questions PDF by Cracku. Very Important Finance GK Questions for CMAT 2022 based on asked questions in previous exam papers. These questions will help your CMAT preparation. So kindly download the PDF for reference and do more practice.

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Question 1: Which of the following was not the reason for the recent slide of Indian Rupee

a) Huge trade Deficit

b) Low Growth and High Inflation

c) Low Capital Inflow

d) Burgeoning current account deficit

e) High employment rate

Question 2: Pick the right match from the following combinations

a) Shenzhen – China, NSE – India, SGX – Singapore, DAX – Germany

b) NASDAQ – U.S., MCX – India, SGX – Korea, FTSE – France

c) NYSE – U.S., BSE – India, FTSE – England, DAX – Denmark

d) NASDAQ – Canada, BSE – India, FTSE – France, DAX – Germany

e) Shenzhen – Singapore, Shanghai – China, FTSE – France, BSE – India

Question 3: Read the following
I. Excise duty is a tax on manufacture or production of goods and services
II. Not all kinds of excise duty is collected by the Central Government of India
III.Excise duty is an indirect tax
Which of the statements given above are correct?

a) Statements I and II

b) Statements II and III

c) Statements I and III

d) All of the above

e) None of the above

Question 4: The factor that least influences exchange rate fluctuations:

a) Industrial Production

b) Investor sentiments

c) Interest Rates

d) Consumer Price Index

e) Goods and Service Tax

Question 5: What is the full form of “NBFC” as used in the Financial Sector ?

a) New Banking Finance Company

b) National Banking & Finance Corporation

c) New Business Finance & Credit

d) Non Business Fund Company

e) None of these

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Question 6: What is the rate of Income Tax for incomes above Rs 1.6 lakh upto Rs 5 lakh?

a) 10%

b) 12%

c) 15%

d) 20%

e) None of these

Question 7: What is the reduction in Service Charges on e-tickets?

a) Sleeper Class Rs. 20 & AC Class Rs. 25

b) Sleeper Class Rs. 20 & AC Class Rs. 20

c) Sleeper Class Rs. 30 & AC Class Rs. 20

d) Sleeper Class Rs. 20 & AC Class Rs. 30

e) None of these

Question 8: Market price is also known as

a) List price

b) Value price

c) effective price

d) retail price

e) wholesaler price

Question 9: Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. Commercial paper can be used in denomina-tions of

a) one lakh or multiples thereof

b) two lakh or multiples thereof

c) three lakh or multiples thereof

d) five lakh or multiples thereof

e) ten lakh or multiples thereof

Question 10: Government usually classifies its expenditure in term of planned and non-planned expenditure, Identify, which is the correct definition of planned expenditure?

a) It represents the expenditure of all the State Governments

b) It represents the total expenditure of the Central Government

c) It is the expenditure which is spent through centrally sponsored programmes and flagship schemes of Government

d) It represents the expenditure incurred on Defence

e) Other than those given as options

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Question 11: Many times we read about SHGs in financial newspapers. What is the full form of the term?

a) Small Help Groups

b) Self Help Groups

c) Small Hope in Growths

d) Self Hope Groups

e) None of these

Question 12: Which of the following agencies / organizations in India maintains the Micro Finance Development and Equity Fund which was in news recently?

a) Confederation of Industries in India (CII)

b) Indian Bank’s Association (IBA)

c) Small Industries Development Bank of India (SIDBI)

d) Reserve Bank of India (RBI)

e) National Bank for Agriculture and Rural Development (NABARD)

Question 13: Many times we read about the performance of Asian Markets in various finical newspapers. Which of the following is NOT included in Asian Market?

a) Japan

b) China

c) Hong Korea

d) South Korea

e) Brazil

Question 14: Which of the following is NOT a financial term?

a) Acid Test

b) Double Fault

c) Gross Profit

d) Depreciation

e) Cash flow

Question 15: In the terms of economics, the recession occurring two times with a small gap in between is known as ______

a) Double Deflation

b) Deflation

c) Deep Recession

d) Double Dip Recession

e) None of these

Question 16: Which of the following terms is NOT used in Economics?

a) Balance of Payment

b) Call Money

c) National Debt

d) Elasticity of Demand

e) Boyle’s Law

Question 17: Which of the following correctly explains the incidence of Income Tax in India?

a) It is levied by the state government

b) The centre can levy tax on all income other than agricultural income

c) The levy of Income Tax is governed by the Indian Income Tax Act,1956

d) Both 2 and 3

e) Both 1 and 3

Question 18: Which of the following is not one of the major charges usually levied on a Demat account?

a) Account operating fee

b) Annual maintenance fee

c) Annual fee for spot conversions of one currency into another

d) Custodian fee

e) Transaction fee

Question 19: Which of the following are the essential farcicalities/ benefiters provided by a Demat account to an individual to trade the securities in the stock market?

a) It reduces brokerage charges

b) It makes pledging/hypothecation of shares easier

c) It enables quick ownership of securities on settlement resulting in increased liquidity

d) It avoids confusion in the ownership title of securities

e) None of these

Question 20: Pre shipment and post shipment is related with which finance?

a) Housing Finance

b) Export finance

c) Agricultural Finance

d) None of the above

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Answers & Solutions:

1) Answer (E)

2) Answer (A)

3) Answer (D)

4) Answer (D)

5) Answer (E)

6) Answer (A)

7) Answer (B)

8) Answer (C)

In economics, market price is the economics price for which a good or service is offered in the marketplace. It is of interest mainly in the study of microeconomics. Market value and market price are equal only under conditional of market efficiency, equilibrium and rational expectations.

9) Answer (D)

Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. Cp can be issued in denominations of `5lahkh or multiples thereof.

10) Answer (C)

11) Answer (B)

12) Answer (E)

13) Answer (E)

14) Answer (B)

15) Answer (D)

16) Answer (E)

17) Answer (B)

The central government has been empowered by Entry 82 of the Union List of Schedule VII of the Constitution of India to levy tax on all income other than agricultural income. The levy of income Tax is governed by the Indian Income Tax Act, 1961. The Income Tax Law comprises the Income Tax Act 1961, Income Tax Rules 1962, Notifications and Circulars issued by Central Board of Direct Taxes (CBDT), Annual Finance Acts and Judicial pronouncements by Supreme Court and High Courts.

18) Answer (C)

There are four major charges usually levied on a Demat account: account opening fee, annual maintenance fee, Custodian fee and transaction fee. A Tobin tax, suggested by Nobel Laureate economist James Tobin, was originally defined as a tax on all spot conversions of one currency into another. The tax is intended to put a penalty on short-term financial round-trip excursions into another currency.

19) Answer (E)

Demat account allows us to buy, sell and transact shares without the endless paperwork and delays. The Demat account reduces brokerage charges, makes pledging/ hypothecation of shares easier, enables quick ownership of securities on settlement resulting in increased liquidity, avoids confusion in the ownership title of securities, and provides easy receipt of public issue allotment. It also helps us avoid bad deliveries caused by signature mismatch, postal delays and loss of certificates in transit.

20) Answer (B)

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