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Quiz 662: Finance, Business & Economy for Banking Exams

1. Recently, Stock market regulator SEBI has imposed trade restrictions on 331 firms which are suspected of being “shell companies”. Which of the following is NOT an activity generally carried out using shell companies?
[A] Trade and normal business
[B] Financial manoevour for some unstated objectives
[C] Illegal financial activities
[D] Violation of intellectual rights and properties

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Correct Answer: A [ Trade and normal business ]
Notes:
Shell companies are created for unstated / hidden objectives of financial manoeuvres and not for normal trade.
2. From July 1, 2017, the nationwide GST (Goods & Services Tax) has been rolled out in India, making the country a single market. What is the current size of Indian economy?
[A] USD 1 Trillion
[B] USD 2 Trillion
[C] USD 3 Trillion
[D] USD 4 Trillion

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Correct Answer: B [ USD 2 Trillion ]
Notes:
India is a USD 2 trillion economy with around 1.3 billion people.
3. The Government of India is planning to allow 200,000 tones of duty-free sugar imports. Which of the following is a correct statement about Sugar production and consumption of sugar in India?
[A] India is world’s largest sugar producer
[B] India is world’s largest sugar consumer
[C] India’s largest sugar producing state is Uttar Pradesh
[D] Sugar farming in India is concentrated in Deccan peninsula only.

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Correct Answer: B [ India is world’s largest sugar consumer ]
Notes:
Rest of the three statements are incorrect. India is largest consumer but largest producer of sugar is Brazil. India’s largest sugar producing state is Maharashtra while sugarcane is produced in maximum quantity in UP. Sugar farming is not concentrated in Deccan peninsula.
4. What is the size of new Rs.500 Bank Note?
[A] 68 mmX150 mm
[B] 68 mmX155 mm
[C] 66 mmX150 mm
[D] 66 mmX152 mm

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Correct Answer: C [ 66 mmX150 mm ]
Notes:
The size of new design Rs 500 bank note is 66 mm x 150 mm and the size of new design Rs 2,000 bank note is 66 mm x 166 mm.
5. Which of the following countries / group of countries are known as G3 economies?
[A] India, China, Africa
[B] US, EU, Japan
[C] India, Japan, China
[D] US, China, Japan

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Correct Answer: B [ US, EU, Japan ]
Notes:
The term G3 economies refers to the US, EU and Japan.
6. Which of the following is the essential element for batteries used in electric cars?
[A] Magnesium
[B] Lithium
[C] Sodium
[D] Bromine

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Correct Answer: B [ Lithium ]
Notes:
The lithium-ion batteries needed to power electric cars use lithium carbonate or lithium hydroxide.
7. Government recently conducted the auction of several coal mines located at Brahmadih, Choritand Tiliaya, Jogeshwar and Khas Jogeshwar, Rabodih OCP and Rohne. In which state these mines are located?
[A] Odisha
[B] Jharkhand
[C] Madhra Pradesh
[D] Bihar

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Correct Answer: B [ Jharkhand ]
Notes:
The mines mentioned in this are in Jharkhand.
8. Which of the following countries is not a member of BIMSTEC?
[A] China
[B] Bhutan
[C] Nepal
[D] Myanmar

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Correct Answer: A [ China ]
Notes:
Members of BIMSTEC (Bay of Bengal Initiative for Multi- Sectoral Technical and Economic) are Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
9. Which of the following is an example of passive investment instrument?
[A] Mutual Funds
[B] Gold ETFs
[C] Stocks
[D] Preference shares

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Correct Answer: B [ Gold ETFs ]
Notes:
Gold ETFs are passive investment instruments that are based on price movements and investments in physical gold.
10. Which among the following places is not a site for India’s currency notes printing press?
[A] Nasik
[B] Mysuru
[C] Salboni
[D] Jhansi

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Correct Answer: D [ Jhansi ]
Notes:
India has four currency note printing pressess — two RBI presses in Mysuru (Karnataka) and Salboni (West Bengal) and two Security Printing and Minting Corp of India Ltd (SMPCIL) presses in Nashik (Maharashtra) and Dewas (Madhya Pradesh). SPMCIL is a government-owned company formed in 2006 that fulfils a sovereign function of printing notes, minting coins and printing non-judicial stamp paper.