UGC NET Mock Test 2 on Commerce - 20 Questions for Practice

UGC NET Mock Test 2 on Commerce – 20 Questions for Practice

Take Test 2 20 questions for Practice – Commerce Test 2

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1. Arrange the following in chronological order:
I. Task Force on Direct and Indirect Taxes (Kelkar Committee)
II. Replacement of State Sales Tax by Value Added Tax
III. Introduction of MODVAT
IV. Fiscal Responsibility and Budget Management Act

a.III, IV, I, II

b.III, I, IV, II

c.II, III, IV, I

d.III, II, IV, I

2. Hedging refers to

a.The acceptance of a foreign exchange risk

b.Foreign exchange speculation

c.Foreign exchange arbitrage

d.The covering of a foreign exchange risk

3. Which State in India has the lowest Infant Mortality Rate?

a.Maharashtra

b.Gujarat

c.Kerala

d.Goa

4. Which one of the following taxes is within the jurisdiction of the State Governments as enumerated in List – II of the Constitution of India?

a.Rate of stamp duty in respect of certain financial documents.

b.Taxes on Railway freights and fares.

c.Taxes other than stamp duties on transactions in stock exchange and future markets.

d.Taxes on mineral rights subject to any limitations imposed by the Parliament.

5. Assertion (A): In the agricultural lending mechanism of India, moneylenders despite their usurious rates of interest are still predominant.
Reason (R): Most often the commercial banks could not meet the target of 18% of their total lending for the agricultural sector in the country.

a.(A) is false and (R) is true.

b.Both (A) and (R) are true and (R) is the correct explanation of (A).

c.Both (A) and (R) are true, but (R) is not the correct explanation of (A).

d.(A) is true and (R) is false.

6. Assertion (A): In India, ‘Green Revolution’ was also criticized as Wheat Revolution.
Reason (R): The productivity of wheat in India during the1970’s was one of the highest in the world.

a.(A) is true, but (R) is false.

b.Both (A) and (R) are true, but(R) is not the correct explanation of (A).

c.Both (A) and (R) are true and(R) is the correct explanation of (A).

d.(A) is false, but (R) is true.

7. What has been the monthly per capita expenditure (Uniform Reference Period) for urban population of India (at 2004-05 prices) as per the 68th Round of NSSO (2011-12)?

a.Rs. 2,401.68

b.Rs. 1,785.81

c.Rs.1,359.75

d.Rs. 707.24

8. An example of a Euro currency is

a.A Mark deposit outside Germany

b.A Dollar deposit outside the U.S.

c.A Pound Sterling deposit outside the U.K.

d.All of the above

9. Find out the items which are not in the scope of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM):

a.Earmarking of at least 20-25percent of developed land in all housing projects for the economically weaker sections and low income groups category.

b.Implementation of a seven point charter for provisioning of seven basic entitlements/services.

c.Internal earmarking within local body budgets for basic services to the urban poor.

d.Provide legal and financial support to metro/mono-rail projects in urban areas.

10. Which of the following are Government of India debt obligations?
I. State Provident Funds
II. Small Savings
III. Reserve Money
IV. Reserve Funds and Deposits

a.I, II and IV are correct.

b.II and IV are correct.

c.I, II and III are correct.

d.I and II are correct.

11. Which of the following tax is introduced in India in 1953 and abolished in 1985?

a.Expenditure Tax

b.Estate Duty

c.Agricultural Income-tax

d.Gift Tax

12. Assertion (A): Agricultural income is taxed by the Union Government.
Reason (R): Agriculture is a State subject.

a.(A) is true, but (R) is false.

b.Both (A) and (R) are true and (R) is not the correct explanation of (A).

c.(A) is false, but (R) is true.

d.Both (A) and (R) are true and (R) is the correct explanation of (A).

13. Which one of the following does not come under land reforms in India?
(a) Abolition of Intermediaries and Tenancy Legislation
(b) Ceiling on Land Holding and Co-operating Farming
(c) Tenancy Legislation and Technology Upgradation
(d) Abolition of Intermediaries and Green Revolution

a.(a) and (c)

b.(a) and (b)

c.(a) and (d)

d.(a), (b), (c) and (d)

14. Which Economic Survey has introduced a new chapter on “Sustainable Development and Climate Change”?

a.Economic Survey 2011-12

b.Economic Survey 2009-10

c.Economic Survey 2004-05

d.Economic Survey 2007-08

15. As per the revised estimate, the plan expenditure of the budget estimate for 2012-13 in India has been lowered by

a.23.0 percent

b.15.0 percent

c.9.0 percent

d.18.0 percent

16. Members of the World Trade Organization are required to

a.Allocate quotas on a first come first basis.

b.Eliminate all tariffs.

c.Prevent their firms from “dumping”.

d.Enforce patent rights for patent holders from other countries.

17. Which of the following issues did the Uruguay Round not address?

a.Tariff

b.Migration

c.Intellectual Property Rights

d.Services

18. The experience with managed exchange rates since 1973

a.Strongly supports a freely flexible exchange rate system.

b.Mildly supports a flexible exchange rate system.

c.Strongly supports a fixed exchange rate system.

d.Supports some restriction on exchange rate fluctuations.

19. Which of the following is not related with optimum currency area?

a.Single currency or the pegged currencies fluctuate jointly visà-vis other currencies.

b.Optimal geographical area for several currencies whose exchange rates are relatively pegged.

c.Single currency do not fluctuate vis-à-vis other currencies.

d.Optimal geographical area for a single currency.

20. The fundamental cause for the collapse of the Bretton Woods System was

a.The liquidity problem

b.The confidence problem

c.All of the above

d.The adjustment problem

Also See :

UGC NET Mock Test 1 on Commerce
UGC NET Mock Test 3 on Commerce
UGC NET Mock Test 4 on Commerce
UGC NET Mock Test 5 on Commerce
UGC NET Mock Test 6 on Commerce
UGC NET Mock Test 7 on Commerce
UGC NET Mock Test 8 on Commerce
UGC NET Mock Test 9 on Commerce
UGC NET Mock Test 10 on Commerce
UGC NET Mock Test 11 on Commerce
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UGC NET Mock 2 on Commerce – 20 Questions for Practice

UGC NET Mock Test 2 on Commerce – 20 Questions for Practice

Take Test 2 20 questions for Practice – Commerce Test 2

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