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1 The Union Cabinet approved the proposal for setting up of the Tax Administration Reforms Commission (TARC). Consider the following statements in this context:
A) The Term of the Commission will be 15 months.
 The commission will review the application of tax policies and tax laws in India in the context of global best practices.
c) The commission will recommend measures to strengthen the capacity of the tax system in India that would reflect best global practices.
Which of the above statements is / are correct?
a) Only (A) b) Only (B) c) Only (A) and (B) d) Only (B) and (c) e) All (A),(B)and(c)
2 The Govt has formulated a draft of the national Sports Development Bill, 2013. The Bill is aimed at
a) Bringing all the sports federations under direct control of the Sports Ministry
b) Bringing all the sports federations under direct control of the Sports Authority of India
c) Bringing all the sports federation under the RTI Act
d) Utilizing access fund of one federation for the development of the other
e) None of these
3 Consider the following in the context of a nation:
(A) Number of employed youth
(B) GDP of the nation
(C) Volume of tax collected per annum
Which of the above is/are measure(s) of economic growth of a nation?
a) Only (A) b) Only (B) c) Only (C)
d) Only (A) and (C) e) Only (B) and (c)
4 It is an economic condition which causes a sustained increase in general price level over a particular period of time and reduces and purchasing power of money. Identify the condition.
a) Deflation b) Inflation c) Devaluation
d) Stagflation e) Depression
5 The National Spot Exchange Ltd (NSEL) is hopeful of disposing its payment liabilities within set timeframe. The exchange is fighting an unprecedented ____________________payment crisis
a) Rs.1,600_cr b) Rs.2,600_cr c) Rs.3,600_cr
d) Rs.4,600_cr e) Rs.5,600_cr
6 In a path breaking research the scientist of the Centre for cellular and Molecular Biology (CCMB) have discovered the gene mutations leading to chronic______________among Indians.
a) Pancreatitis b) Hepatitis c) Lung
d) Intestine e) None of these
7 The Launch of GSLC-D5 rocket carrying communication satellite GSAT_14, from Sriharikota in Andhra Pradesh, was called off recently. With this launch, India would have joined an elite group of nations with
a) Advanced communication satellite
b) Indigenous cryogenic rocket engine technology
c) Advanced geosynchronous satellite launch vehicle
d) Indigenous satellite control facility
e) None of these

8 Consider the following with respect to commodity markets in India;
a) Multi-Commodity Exchange (MCX)
b) Forward Markets Commission (FMC)
c) National Commodities Exchange (NCDEX)
d) Securities and Exchange Board of India (SEBI) which of the above is the regulator of commodity market in India?
9. Which of the following statements is/are correct? The fiduciary issue is
a) The issue of currency notes without metallic backing.
b) The issue of currency notes with full metallic backing.
c) The issue of currency notes with partial metallic backing.
d) Both l)and2)
e) None of these
10. India has made it clear that it’s lunar mission, Chandrayaan-2, would be a lone mission by India. Earlier which of the following countries was assisting India in this mission?
a) US
b) UK
c) France
d) Russia
e) None of these
11. The Union Cabinet gave its approval to the proposal for establishing the International Centre for Drinking Water Quality in which of the following cities recently?
a) Delhi
b) Bangalore
c) Kolkata
d) Chennai
e) None of these
12. India has started providing uninterrupted 250 megawatt power supply to which of the following countries from Sep this year? This country has given sovereign guarantee for the power purchase for 25 years to Vidyut Vyapar Nigam, a unit of NTPC.
a) Nepal
b) Bangladesh
c) Sri Lanka
d) Myanmar
e) None of these
13. The communication backbone, launched by the Reserve Bank of India (RBI), for the Indian banking and financial sector is known as which of the following?
e) None of these
14. In banking parlance, what is the full form of CRA?
a) Credit Research Association
b) Credit Rating Agency
c) Credit Risk Assessment
d) Credit Reconstruction Agency
e) None of these

15. Who among the following has written the book titled Like It Happened Yesterday?
a) Amish Tripathi
b) Durjoy Datta
c) Ravinder Singh
d) Lavanya Sankaran
e) None of these
16. Mohamed ElBaradei, who resigned his post recently, was
a) Director General of the International Atomic Energy Agency
b) the joint UN-Arab League special envoy to Syria
c) Egypt's interim President
d) Egypt's interim Vice-President
e) None of these
17. Name France's top female tennis player and the current Wimbledon women's champion who has announced retirement from professional tennis recently.
a) Sabine Lisicki
b) Marion Bartoli
c) Samantha Stosur
d) Kirsten Flipkens
e) None of these
18. Which of the following is NOT a valid type of accounts as far as banking in India is concerned?
a) Nostro Account
b) Vostro Account
c) Loro Account
d) Mirror Account
e) None of these
19. What does a repository refer to in banking terminology?
a) A currency chest owned by the state govt
b) A separate small currency chest
c) A sub-chest whose money forms part of the main chest
d) A currency chest maintained by private financial companies
e) None of these
20. Expand the term CTS.
a) Cheque Tracking System
b) Cheque Transfer System
c) Cheque Timing System
d) Cheque Truncation System
e) None of these
21. Which of the following international organisations and the Centre signed an agreement for USD 300 mn additional loan to upgrade 254 kilometers of deteriorated highwaysin northern and southern Bihar?
a) International Monetary Fund (IMF)
b) Asian Development Bank (ADB)
c) World Bank
d) Bank of Japan
e) None of these

22. Amid demands from various parties, the govt is considering to bring a constitutional amendment to annula Supreme Court order against reservation for facultyin ______________
a) Central Universities
b) Indian Institutes of Technology (IITs)
c) Indian Institutes of Management (IIMs)
d) Super Speciality section in AIIMS
e) None of these
23. Who among the following has clinched the women's singles title of Rogers Cup recently?
a) Serena Williams
b) Sorana Cirstea
c) Maria Sharapova
d) Victoria Azarenka
e) none of these
24. In India, the export trade is regulated by which of the following?
a) RBI
c) Exim Bank
e) None of these
25. Which of the following in NOT eligible for deposit insurance facility provided by Deposit Insurance and Credit Guarantee Corporation (DICGC)?
a) Regional Rural Banks (RRBs)
b) Private Banks
c) Foreign Banks
d) Primary Cooperative Societies
e) None of these
26. Who among the following is not included in the list of awardees of Arjuna award for 2013?
a) Virat Kohli (Cricket)
b) Gaganjeet Bhullar (Golf)
c) PV Sindhu (Badminton)
d) Kavita Chahal (Boxing)
e) Ronjan Sodhi (Shooting)
27. The self-regulatory body of the TV industry, BCCC, slapped penalties on two channels for airing objectionablecontent recently. What is the full form of BCCC?
a) Broadcasting Content Complaints Council
b) Broadcasting Control and Complaints Council
c) Broadcasting Content Complaints Committee
d) Broadcasting Control and Complaints Committee
e) None of these
28. Who among the following has written the book titled The Billionaire's Apprentice?
a) Devdutt Pattanaik
b) Dipankar Gupta
c) Vinod Mehta
d) Anita Raghavan
e) None of these

29. These days, banking services are available anywhere and anytime. Which of the following is/are the products/services that make the above possible?
(A) Automated Teller Machine
(B) Internet Banking
(C) Multi-city cheques
(D) Mobile Banking
a) OnIy (A)and(B)
b) Only (B) and (C)
c) Only (C) and (A)
d) Only (A), (B) and (C)
e) Only (A), (B) and (D)
30. Which of the following statements is/are correct in the Context of features of the recently passed CompaniesBill 2012?
a) Business-friendly corporate regulations/ pro-businessinitiative
b) Good corporate governance and CS'R
c) Better framework for insolvency regulation
d) All the above
e) Only 1) and 2)
31. A new govt headed by Prime Minister Jiri Rusnok lost parliamentary confidence vote recently, creating asituation of political uncertainty in
a) Czech Republic
b) Philippines
c) Indonesia
d) Slovakia
e) None of these
32. A United Nations committee has found which of thefollowing countries guilty of violations of internationallaw for indefinite detention of the 46 asylum seekers,most of them Sri Lankan Tamils?
a) Canada
b) Australia
c) UK
d) Norway
e) None of these
33. In which of the following countries, the President, Enrique Pena, Nieto proposed to open up state-run oil industry to private sector to fulfill the needs of investment and expertise to develop new oil and gas fields?
a) Brazil
b) Chile
c) Cuba
d) Mexico
e) None of these

34. The technical term used for providing banking services to all is 'financial inclusion'. Which of the following will be the best alternative banking service to branch banking to achieve the target of financial inclusion?
a) Setting up of ATMs
b) Providing Credit Cards
c) Establishing Personal Banking branches
d) Mobile Banking
e) None of the above
35. Which of the following companies comes under the category of Asset Reconstruction Companies (ARCs) functioning in India?
d) All the above
e) Only 1) and 3)
36. American scientists have developed the world's most accurate atomic clock till date. This clock is based on which of the following elements?
a) Hydrogen
b) Rubidium
c) Cesium
d) Ytterbium
e) None of these
37. Which of the following states in India observed 'Patriots Day' on 13 Aug to pay tribute to the warriors who fought with the British in the war of 1891?
a) Assam
b) Manipur
c) Tripura
d) Arunachal Pradesh
e) None of these
38. Consider the following economic situations a countrymay face:
(A) It bas to borrow to make interest payments on outstanding loans.
(B) It has to borrow to make interest payments on standing loans.
(C)It has been refused loans or aid by creditors abroad. In which of the above situations will the country be saidto be debt trap?
a) Only (A)
b) Only (B)
c) Only (C)
d) Only (A) and (C)
e) None of the above
39. Indian table tennis players Soumyajit Ghosh and Manika Batra bagged the U-21 men's and women's singles titlesrespectively of______________ recently.
a) Malaysia Open
b) Singapore Open
c) Brazil Open
d) Indonesia Open
e) None of these

40. The Securities and Exchange Board of India (SEBI) is considering the recommendation made by Oliver Wyman on an organizational rejig. Who/what is Oliver Wyman?
a) A renowned international economist
b) Adviser to US Secretary of Finance
c) An international consulting firm
d) Advisory arm of IMF
e) None of these

*** ***

1. D 2.C 3.B 4.B 5.E 6.A 7.B 8. B 9.A 10.D

11.C 12.B 13.B 14.C 15.C 16.D 17.B 18.E 19.C 20.D

21.B 22.D 23.A 24.D 25.D 26.E 27.A 28.D 29.E 30.D

31.A 32.B 33.D 34.D 35.E 36.D 37.B 38.A 39.C 40.C

1. The term will be 18 months.


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