Prelims Practice Questions 06-12-2017

1. Consider the following statements about Foreign Trade policy (FTP)

i) FTP is formulated by the Ministry of Finance.

ii) Duty Free Scrips are paper authorizations that allow the holder to import inputs without paying duties.

iii) Duty Free Scrips are aimed at promoting Exports.

Which of the above statement(s) is/are correct?

a) i only                       b) i & ii only

c) i & iii only              d) ii & iii only

2. Consider the following statements regarding Finance Commission:

1. It recommends measures and methods on how revenues need to be distributed between the Centre and States.
2. It lays down the principles for giving out grant-in-aids to states and other local bodies.
3. It ensures a sense of equality in public services across the states.

Which of the following  statements given above is/are correct?

a) iii only                           b) i & ii only 

c) ii & iii only                    d) i,ii & iii

3. Which of the following receipts form the major sources for the non-tax revenue of the States?

1. Railways
2. Forests
3. State Public Enterprises

Which of the statements given above is/are correct?

a)iii only                      b) i & ii only

c) ii & iii only             d) i,ii & iii

4. Consider the following statements regarding the Delimitation Commission of India

1. It is a constitutional body.
2. It is tasked with redrawing the boundaries of Lok Sabha constituencies only.
3. Decisions made the body cannot be question by any court of law.

Which of the above statement(s) is/are correct?

a. i only                       b. i & iii only

c. iii only             d. All of the above

5. Madhubani painting is the folk painting of

a. Rajasthan

b. Gujarat

c. Bihar

d. Bengal

6. Consider the following statements regarding “Akash” Missile

1. It is a medium range surface to surface missile.
2. It is indigenously developed by DRDO as part of Integrated Guided Missile Development Programme.

Which of the above statement(s) is/are correct?

a) i only                                  b) ii only 

c) Both (i) and (ii)               d) Neither (i) nor (ii)

7. Which of the following countries is not a part of Gulf Cooperation Council?

a. Saudi Arabia

b. Bahrain

c. Yemen

d. UAE

8. Consider the following statements regarding UNESCO

1. It is first UN agency to have admitted Palestine as a full member.
2. It publishes Global Education Monitoring report and Gender Inequality Index.
3. It is known for its World Heritage Mission to protect natural and cultural heritage sites.

Which of the above statement(s) is/are correct?

a) i and ii only              b) iii only

c) i and iii only             d) All of the above

9. Consider the following statements regarding Soil Health Card

1. It is issued to a farm every year to inform about the nutrients status of the soil.
2. It gives crop wise recommendation of appropriate dosage of fertilizers and nutrients.
3. It is being implemented by Ministry of Agriculture along with State governments with 50:50 sharing pattern.

Which of the above statement(s) is/are correct?

a) i and ii only                 b) ii and iii only

c) ii only                           d) All of the above

10. Consider the following statements regarding Market Economy Status

1. It is given by WTO to a country where key pricing of goods and services are guided solely by the market.
2. It is opposite to a centrally planned economy, where government decisions drive country’s economic activity.

Which of the above statement(s) is/are correct?

a) i only                       b) ii only

c) Both (i) and (ii)     d) Neither (i) nor (ii)

Answers & Explanations

1. d

FTP is released by Ministry of Commerce & Industry.

Duty Free Scrips allows the holder to import inputs that go into manufacture of products that are exported or machinery used for producing. They incentivize the exporters to make more exports of specific goods and to specific markets.

2. d

3. c

4. c

It is a statutory body. 

It redraw the territorial constituency of Lok Sabha and State Legislative Assembly.

5. c

6. b

It is surface to air missile

7. c

Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates are the member countries of GCC.

8. c

It publishes Gender Parity Index.

Gender inequality index is published by UNDP.

9. b

The card is issued once in 2 years.

10. c

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