SEBI Grade A (General Stream) Mock Test - 3 - Bank Exams MCQ

• Adani Ports signed a 30-year concession agreement with the Tanzania Ports Authority to operate Container Terminal 2 at the Dar es Salaam Port

• Partnership Details: The operation is through its subsidiary, Adani International Ports Holdings Pte Ltd, showing the global expansion strategy of Adani Ports.
• Joint Venture: Adani formed a joint venture with Abu Dhabi Ports Group and East Harbour Terminals Ltd for this project.
• Acquisition and Operations: The acquisition includes purchasing a significant stake in Tanzania International Container Terminal Services Limited, which handles the port's operations.
• Impact and Capacity: CT2 has an annual cargo handling capacity of 1 million TEUs and managed a significant portion of Tanzania’s container volumes in 2023.
• Strategic Importance: This move is part of Adani Ports’ strategy to expand its footprint globally and enhance trade routes connecting to East Africa.
• Future Goals: The involvement in Tanzania is aligned with Adani Ports' goal of becoming a top global port operator by 2030, leveraging their expertise to improve port operations and regional economic cooperation.

The Correct Answer is 100 tonnes.

In News

• RBI shifts 100 tonnes of Gold from UK to India.

Key Points

• The Reserve Bank of India (RBI) has shifted over 100 tonnes of gold from the UK to its vaults in the country.
• This is the first time since 1991 that the precious metal has been added to the stock kept in the country.
• More than half of RBI’s gold reserves are held overseas in safe custody with the Bank of England and the Bank of International Settlements, and about a third of it is stored domestically.
• The move will also help RBI save storage costs, which are paid to the Bank of England.
• According to the annul data released by the RBI, the central held held 822.10 tonnes worth of gold as a part of its foreign exchange reserves as of March 31, 2024, up from 794.63 tonnes held during the same period last year.

The correct answer is Option 2.

Key Points

• The passage explicitly states that one of Vladimir Putin's key decisions after being sworn in as Russia’s President for the fifth time was to remove his long-time Minister of Defence, Sergei Shoigu. This directly answers the question.
• Andrei Belousov, mentioned as a replacement for the Minister of Defence, is brought in due to his background as a civilian economist, highlighting the economic aspects of the war in Ukraine faced by Russia. This context emphasizes the significance of removing Sergei Shoigu and appointing Andrei Belousov, aligning with option 2.
• The passage provides a brief review of Shoigu's tenure, mentioning his successful military operations such as the annexation of Crimea and Russia’s military intervention in Syria. This background information emphasizes the importance of his removal from the role.

​Therefore, the correct answer is 'Sergei Shoigu'.

Additional Information

• Option 1 (Andrei Belousov) is incorrect because he was appointed to run the Defence Ministry, not removed from it.
• Option 3 (Yevgeny Prigozhin) is mentioned in the passage as the late Wagner chief who led a rare rebellion. He was not the one removed from the role of Minister of Defence.
• Option 4 (A civilian economist) refers to Andrei Belousov's professional background rather than his name, but it does not accurately answer the question of who was removed.
• Option 5 (None of the above) is inaccurate because Sergei Shoigu, who is listed as option 2, was indeed removed from the role according to the passage.

The correct answer is Option 4.

Key Points

• The context of the passage indicates a scenario where Putin is making strategic moves to reinforce control over the state and counter dissent.
• The passage describes Putin's actions to maintain authority amidst challenges, including international sanctions and internal dissent, by implying an increase, not a decrease, in control.
• The term "tightened" is commonly used to describe actions taken by leaders to strengthen their hold on power, especially in political or authoritarian contexts. (कड़ी कर दी गई)
• The mention of being "intolerant of dissent" complements the idea of tightening grip, as it suggests an effort to quell opposition and consolidate power more firmly.
• Therefore, the phrase that logically fits the blank, considering the passage’s overall tone and content, is "tightened his grip."

Therefore, the correct answer is 'tightened'.

Complete Sentence: At home, he has tightened his grip on the state and society and is intolerant of dissent.

Additional Information

• Loosened (ढीला): This would suggest reducing control or easing restrictions, which contradicts the narrative of increasing authoritarian control mentioned in the passage.
• Relaxed (आराम): Similar to "loosened," this implies a lessening of control or a more lenient approach, which does not align with the context of strengthening authority.
• Overturned (पलट जाना): This term implies a complete reversal or abolition of a previous stance or system, which is not supported by the details in the passage.
• Ignored (अवहेलना करना): To ignore would mean to pay no attention to, which does not fit the context here where active measures are being taken to consolidate power and control dissent.

• The sentence indicates a minimal amount of respect.
• The word "Modicum" means a small quantity of something, especially something considered desirable or valuable. (भोजन की थोड़ी मात्रा)
• The words "Meagre," "Fulfillment," and "Average" do not fit the context of the sentence.
• Understanding the meaning of "Modicum" in the context of the sentence helps to clarify that even a small amount of respect would have prevented such treatment of parents.

• Meagre (अल्प मात्रा) means lacking in quantity or quality.
• Fulfillment (पूरा करना) means the achievement of something desired, promised, or predicted.
• Average (औसत) means a number expressing the central or typical value in a set of data.

The correct answer is Option 5.

Key Points

• Let's first identify the logical flow of the paragraph while keeping in mind that sentence C is the third sentence.
  • B: This sentence gives the introduction about the aggressive behaviour of commercially reared chickens and provides background information.
  • D: This gives additional information on the conditions in which chickens are kept to mitigate aggressive behaviour.
  • C: This sentence, which is already identified as the third sentence, suggests a solution by altering the bird's environment.
  • F: This sentence provides evidence of the effectiveness of the solution suggested in sentence C.
  • A: This describes the results of the experiment in detail, highlighting the behavior of the birds.
  • E: This concludes by mentioning the potential benefits of using bales, thus wrapping up the paragraph.
• So the correct order of the sentences is BDCFAE.
• Hence, the fourth sentence in the correct order is: F.

​Therefore, the correct answer is F.

Rearranged Paragraph: Commercially reared chicken can be unusually aggressive and are often kept in darkened sheds to prevent them from pecking at each other. In low light conditions, they behave less belligerently but are more prone to ophthalmic disorders and respiratory problems. Altering the bird's environment, by adding bales of wood-shaving to their pens, can work wonders. In an experiment, aggressive head-pecking was all but eliminated among birds in the enriched environment. The birds spent far more of their time - up to a third - pecking at the inanimate objects in the pens, in contrast to birds in other pens, which spent a lot of time attacking others. In an experiment, aggressive head-pecking was all but eliminated among birds in the enriched environment.

The correct answer is Option 1.

Key Points

• Let's first identify the logical flow of the paragraph while keeping in mind that sentence C is the third sentence.
  • B: This sentence gives the introduction about the aggressive behaviour of commercially reared chickens and provides background information.
  • D: This gives additional information on the conditions in which chickens are kept to mitigate aggressive behaviour.
  • C: This sentence, which is already identified as the third sentence, suggests a solution by altering the bird's environment.
  • F: This sentence provides evidence of the effectiveness of the solution suggested in sentence C.
  • A: This describes the results of the experiment in detail, highlighting the behavior of the birds.
  • E: This concludes by mentioning the potential benefits of using bales, thus wrapping up the paragraph.
• So the correct order of the sentences is BDCFAE.
• Hence, the fifth sentence in the correct order is: A.

​Therefore, the correct answer is A.

Rearranged Paragraph: Commercially reared chicken can be unusually aggressive and are often kept in darkened sheds to prevent them from pecking at each other. In low light conditions, they behave less belligerently but are more prone to ophthalmic disorders and respiratory problems. Altering the bird's environment, by adding bales of wood-shaving to their pens, can work wonders. In an experiment, aggressive head-pecking was all but eliminated among birds in the enriched environment. The birds spent far more of their time - up to a third - pecking at the inanimate objects in the pens, in contrast to birds in other pens, which spent a lot of time attacking others. In an experiment, aggressive head-pecking was all but eliminated among birds in the enriched environment.

The correct answer is option 2.

Key Points

• To answer this question, let's first understand the meaning of the word given in the question:
• Suo motu: a Latin term meaning "on its own motion." It is used to describe an action taken by a court or other authority without a formal request from another party. (स्वतः संज्ञान लेना)
• Now, let's examine the given sentences:
• Sentence A: The court took suo motu action to protect the environment.
  • This sentence correctly uses the term "suo motu" to describe the court taking action on its own initiative to protect the environment.
• Sentence B: He took a suo motu leave from work without informing his manager.
  • This sentence incorrectly uses the term "suo motu" as it implies a personal decision rather than an action taken by an authority on its own initiative.
• Sentence C: The government issued a suo motu advisory despite no formal complaint being filed.
  • This sentence correctly uses the term "suo motu" to describe the government issuing an advisory on its own initiative without any formal complaint.
• So, both Sentence A and Sentence C correctly use the term "suo motu" to illustrate actions taken by an authority on its own initiative.

Therefore, the correct answer is "Both A & C."

Calculation:

Let be assume the marked price of the article is MP

and cost price of the article is CP

and the discount percentage is X

From statement l,

⇒ CP × (120/100) = MP × (100 - X)/100 ----(i)

Also,

⇒ CP × (96/100) = MP × (100 - 2X)/100 ----(ii)

Dividing (i) and (ii), we get:

⇒ 5/4 = (100 - X)/(100 - 2X)

⇒ X = (50/3)%

⇒ Hence, statement l alone is sufficient to answer the question

From statement ll,

⇒ MP = CP × (160/100)

⇒ Hence, statement ll alone is not sufficient to answer the question

∴ The data in statement (I) alone is sufficient to answer the question.

The series follows the following pattern:

102 + 5 = 107

107 + 7 = 114

114 + 9 = 123

123 + 11 = 134

134 + 13 = 147

∴ The missing term in the series is 134.

The pattern of the series is

3125 ÷ 5 = 625

625 ÷ 5 = 125

125 ÷ 5 = 25

25 ÷ 5 = 5

5 ÷ 5 = 1

1 ÷ 5 = 0.2

For the solution of 5 ∶ 3,

The total volume of mixture = 80 liter

Require volume from mixture = 50% of 80 = 40 liters

Amount of milk in 40 liter = (5/8) × 40 = 25 liters

For the solution of 7 ∶ 5,

Total volume of mixture = 72 liters

Require volume from mixture = 50% of 72 = 36 liters

Amount of milk in 36 liters = (7/12) × 36 = 21 liters

Total prepared mixture = 40 + 36 = 76 liters

Amount of milk in 76 liters = 25 + 21 = 46 liters

Amount of water in 76 liters = 76 – 46 = 30 liters

According to the given information,

1) Eight persons A, B, C, D, E, F, G, and H are sitting on a square table so that two persons are sitting on each side of the table at an equal distance.

2) E sits to the immediate left of D and faces outside the centre. D faces the centre. As the given information two cases will be formed,

3) E is sitting between D and F. F faces the centre and sits third to the right of C.

4) G is facing outside the centre and an immediate neighbour of F. H is an immediate neighbour of A and G.

5) G sits third to the right of B. F faces the centre and sits third to the right of C.

6) H faces the same direction as F. E and A are facing the same direction. H and A sits on one of the four sides. As H and A sits on one side of the table. Hence, case 2 will be ruled out.

Final Arrangement:

C is sitting third right of F and fifth left of F.

Hence, Both 1) and 3) is the correct answer.

People: Hari, Anil, Ravi, Vihan, Deep, Shiv, Isha and Neha.

Floors: 1, 2, 3

Profession: Teacher, Businessman or Doctor.

From three Doctors two stay on floor numbered 3. Shiv and Ravi stay on the same floor, and there are three businessmen. Therefore, there are 3 businessmen, 3 Doctors and 2 Teacher. In each floor, there are at least two and at most three flats. And at least two peoples are in each profession but not more than three.

1) Hari stays on floor numbered 2 and Vihan do not stay on the same floor as Hari.

2) Both people staying on floor numbered 2 are Teachers.

3) Shiv is Doctor but does not stay on floor numbered 1.

4) Vihan and Deep stay on different floors but not on floor numbered 1 and are in different professions but not Doctor

5) From three Doctors two stay on floor numbered 3.

6) Anil and Ravi stay on different floors but not in floor numbered 2, and both are in the same profession.

7) Neha and Isha stay on the same floor and are in the same profession, but not Doctor.

8) Shiv and Ravi stay on the same floor.

Final arrangement will be

Businessmen lives on floor number one and three, Out of which Two on 1st floor and one on third floor.

Let us first decode the given symbols and then draw a family tree.

Now draw a family tree using the following notations:

By using statement - 1

1) X % Y # W & U % S & T - X is husband of Y, Y is mother of W, W is sister of U, U is husband of S, S is sister of T.

In this statement, we can clearly see that W is not aunt of T.

By using statement - 2

2) X % Y # W & U % S # T - X is husband of Y, Y is mother of W, W is sister of U, U is father of S, S is Mother of T.

In this statement, we can clearly see that W is aunt of T.

Hence, X % Y # W & U % S # T​ is correct.

Now, we have the correct answer, so no need to check the further options.

We have drawn the figure according to the information given in the question,

Total distance covered by Misty = 10 + 6 + 18 + 12 = 46 km

Total distance covered by Shristy = 15 + 20 + 7 = 42 km

Difference between distance covered by Misty and Shristy = (46 - 42) km = 4 km

Hence, The difference between the distance covered by Misty and Shristy is 4 km.

We have drawn the figure according to the information given in the question,

There is a difference of 4km horizontally between the final position of Misty i.e. S and Shristy's final position i.e. N

Hence, Misty's final position is northwest of Shristy's Final position.

We have drawn the figure according to the information given in the question,

Hence, Point Q is in southwest direction with respect to point L.

The correct answer is ​Philips curve.

Key Points

• Philips curve -
  • The Phillips curve is an economic concept developed by A. W Phillips
  • Stating that inflation and unemployment have a stable and inverse relationship. Hence statement 1 is correct.
  • The theory claims that with economic growth comes inflation, which in turn should lead to more jobs and less unemployment.

Philips Curve

Important Points

• Kuznets curve - It shows the relationship between economic growth and inequality. It shows that initially economic growth leads to greater inequality, followed later by the reduction of inequality.
• Laffer curve - It shows the relationship between tax rates and the amount of tax revenue collected by governments.
• Lorenze curve - It is a representation of income inequality or wealth inequality developed by American economist Max Lorenz in 1905.

The correct answer is Treasury Bills.Key Points

• In the Constitution of India, the annual financial statement consists of three kinds of funds for the Central government:-
  • Consolidated Fund of India (Article 266)
  • Public Account of India (Article 266)
  • Contingency Fund of India (Article 267)
• Consolidated Fund of India:-
  • It is a fund to which all receipts are credited, and all payments are debited.
  • No money out of this fund can be appropriated (issued or drawn) except in accordance with parliamentary law.
• Public Account of India:-
  • All other public money (other than those which are credited to the Consolidated Fund of India) received by or on behalf of the Government of India shall be credited to the Public Account of India.
  • This account is operated by executive action, that is, the payments from this account can be made without parliamentary appropriation.
  • Such payments are mostly in the nature of banking transactions.
• Contingency Fund of India:-
  • This fund is placed at the disposal of the president, and he can make advances out of it to meet unforeseen expenditure, pending its authorisation by the Parliament.
  • The fund is held by the finance secretary on behalf of the President. Like the public account of India, it is also operated by executive action.

Important Points

• The budget is also referred to as the Annual Financial Statement in Article 112 of the Constitution of India.
• The Union Budget is the annual financial statement that contains the government's revenue and expenditure for a fiscal year.
• Article 112 of the Constitution requires the government to present to Parliament a statement of estimated receipts and expenditure in respect of every financial year, from April 1 to March 31.
• It is divided into three parts, a Consolidated Fund, Contingency Fund, and Public Account.

The correct answer is Directing.

Key Points

• Planning: Involves setting objectives and determining in advance the best course of action to achieve those objectives.
• Organizing: Deals with arranging and structuring work to accomplish the organization’s goals efficiently.
• Staffing: Includes all activities involved in acquiring, maintaining, and developing an organization’s workforce.
• Directing: Concerned with leading, influencing, and motivating employees to perform tasks or achieve objectives. It is through directing that managers guide, supervise, and get tasks accomplished by working with and through people.
• Controlling: Involves monitoring activities to ensure they are being accomplished as planned and correcting any significant deviations.

The correct answer is option A

Key PointsOverhead:

• Overhead refers to the ongoing business expenses not directly attributed to creating a product or service
• The total of all indirect costs, i.e., indirect material, indirect labour and indirect expenses, is termed as ‘overheads’.

Important Points Steps for the distribution of overhead:

1. Collection or Estimation of Overhead: The first step in overhead distribution is the collection or estimation of overheads. This means the ascertainment of the total amount spent on each item of overheads during a particular period.

2. Allocation of Overhead: The second step in overhead distribution is allocation. It refers to charging to the cost centre those overheads that have been incurred for that cost centre For example, if canteen is treated as a separate cost centre, salary paid to canteen manager can be allocated to canteen. If indirect wages and salaries are paid to the employees in each department, they can be wholly attributed to the concerned departments and charged accordingly.

3. Apportionment of overhead: Apportionment refers to the distribution of common items of cost to two or more cost centres on some appropriate basis. When the costs which are incurred for the factory as a whole and benefit two or more cost centres, then it is necessary to apportion them to different departments that receive benefit from such costs. For example, factory rent benefits all the departments. Hence, it should be apportioned to all the departments on the basis of the floor area occupied by each department in the factory.

4. Re-Apportionment of Overhead: Once the overheads have been allocated and apportioned to production and service departments, next step in overhead distribution is to re-apportion the service department total costs to production departments. As the ultimate object is to charge the overhead to cost units, and no cost units pass through service departments, it becomes necessary to apportion the service departments costs also to production departments on some equitable basis.

5. Absorption of Overhead: Once the total overhead cost of various production departments is ascertained by means of allocation, apportionment and re-apportionment, these costs should be charged to the cost units i.e., the products that pass through these production cost centres. As the ultimate objective is to find out the cost of production it is necessary to distribute the overhead costs of production departments/cost centres to the cost units. This process of charging or apportioning the overheads is known as ‘Absorption’.

The correct answer is Management by Objectives (MBO).

Key Points

• Benchmarking:
  • A process by which a company compares its performance with that of high-performing organizations.
• Financial Analysis:
  • It involves evaluating businesses, projects, budgets, and other finance-related transactions to determine their performance and suitability.
• Management by Objectives (MBO):
  • This is a strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed to by both management and employees.
  • It focuses on setting measurable goals, monitoring progress, and taking corrective actions as needed, aligning individual objectives with the goals of the organization.
• Ratio Analysis:
  • A tool used by individuals to conduct a quantitative analysis of information in a company's financial statements.
• Budgetary Control:
  • Refers to how well managers utilize budgets to monitor and control costs and operations in a given accounting period.

The correct answer is "Maintains a network of outside contacts who provide favors and information".

Key Points

• Formulates plans for achieving organizational goals: This represents the planning aspect of management, where strategies and courses of action are determined.
• Motivates and encourages employees toward achieving organizational objectives: This is reflective of the directing or leading function of management, focusing on influencing and guiding employees’ actions.
• Maintains a network of outside contacts who provide favors and information: As a 'Liaison', a manager acts as a bridge between the internal and external environment, maintaining a network of contacts outside the organization that can provide useful information or favors.
• Monitors the environment within and outside the organization: Monitoring is more associated with the controlling aspect, ensuring activities are aligned with plans through feedback and observation.
• Allocates resources to ensure the completion of projects: Allocation of resources is a part of the organizing function, ensuring that resources are distributed effectively for tasks and activities.

The correct answer is Marginal Costing.

Key Points

• Absorption Costing includes all manufacturing costs, both fixed and variable, in the cost of a product.
• Activity-Based Costing allocates overhead costs based on each product's activities or transactions.
• Marginal Costing (also known as Variable Costing) involves considering only variable costs (costs that change with the level of output) for decision-making, ignoring fixed costs (costs that remain constant regardless of the level of production or sales).
• Standard Costing involves comparing actual costs incurred to standard costs pre-determined by the company to find variances.
• Historical Costing records assets and liabilities at their original purchase cost.

The correct answer is 2005.

Money Laundering:

• When a person generates a large amount of money through illegal activities like smuggling, terrorist funding etc. The money generated is called Dirty Money.
• Money Laundering is the process of conversion of 'dirty money', to make it appear as 'legitimate' money.
• Prevention of Money-Laundering Act((PMLA), 2002 is the legal framework in India to prevent Money Laundering
• PMLA and the Rules notified there under came into force with effect from July 1, 2005.
• The act was amended in the year 2005, 2009, 2012 and 2018

The correct answer is Current costs plus cost of beginning work-in-process inventory.

Key Points

Weighted Average method of process costing:

When using the weighted average method, we divide the cost of goods available for sale by the number of units available for sale, which yields the weighted-average cost per unit. In this calculation, the cost of goods available for sale is the sum of beginning inventory and net purchases. This weighted average figure is then used to assign a cost to both ending inventory and the Cost Of Goods Sold.

Equivalent Units:

• Equivalent units are used to describe how much work has been done on a set of physical goods.
• To simply calculate equivalent units, you can multiply the number of physical items by the percentage of the work done on them. For two items that are 50% done, you would have one equivalent unit (2 x 50% = 1).

Important Points

The main difference between FIFO method and average method is that units of opening work in process and their cost are taken in full under average method, while under FIFO method only the remaining work done now is considered.

Under Weighted Average Method

manufacturing cost per equivalent unit = current cost + cost of beginning work-in-process inventory.

The correct answer is Primary Deficit.

Key Points

• The primary Deficit is measured by subtracting the interest payments from the fiscal deficit.
• Primary Deficit = Fiscal Deficit - Interest Payments
• Primary deficit is a measure of the current year's fiscal operation after excluding the liability of interest payment created due to borrowings of the past.
• Primary deficit is considered a tool in the process of bringing in more transparency in the government’s expenditure pattern.

Additional Information

• Revenue Deficit: Difference between total revenue expenditure and total revenue receipts.
• Budget Deficit: Difference between total expenditure and total receipts
• Monetised Deficit: Increase in the net RBI credit to the Union Government.

The correct answer is Short-term debt securities.

Key Points

• Long-term bonds and debentures: These are typically traded in capital markets, not money markets.
• High-risk, high-return investments: Money markets are known for lower risk and liquidity, focusing on short-term debt.
• Short-term debt securities: Money markets deal with short-duration financial instruments, such as Treasury bills and commercial paper.
• Equity trading: Stocks are primarily traded in equity markets.
• Commodities and futures: These are traded in commodity markets and derivatives markets, respectively.

The correct answer is Journal entry.

Key Points

• Balance Sheet: Shows the company's financial position at a specific point in time, not a document for transaction initiation.
• Sales Invoice, Purchase Order, Cash Receipt: These are evidence of transactions that need to be recorded but themselves are not the start of the recording process.
• Journal Entry: The actual act of entering a transaction into the accounting records, making it the initiation of the recording process.