SEBI Grade A (General Stream) Mock Test - 5 - Bank Exams MCQ

The correct answer is ICGS Samudra Paheredar.In News

• Samudra Paheredar, an Indian Coast Guard (ICG) Pollution Control Vessel with an integral helicopter, made a port call at Ho Chi Minh, Vietnam.

Key Points

• During the three-day visit, as part of its ongoing overseas deployment to ASEAN countries, the crew engaged in professional interactions focusing on marine pollution response, maritime search & rescue, and maritime law enforcement, showcasing India's commitment to enhancing international cooperation with friendly countries.
• The visit aims to strengthen ties between the ICG and Vietnam Coast Guard (VCG) and also demonstrates India's indigenous shipbuilding capabilities.
• Furthermore, 25 National Cadet Corps (NCC) cadets aboard the vessel participated in Walkathon and Beach Clean-up activities, emphasizing India's shared concern and resolve towards marine pollution.
• This overseas deployment is in pursuance with India ASEAN Initiative for marine pollution and reflects India's commitment to promoting safety and security through maritime cooperation in the ASEAN region.
• Prior to Ho Chi Minh, the vessel had visited Manila, Philippines, showcasing a seamless continuation of diplomatic maritime engagements in the ASEAN region.

The correct answer is Jayant Murthy

In News

• The asteroid was named after Indian scientist Professor Jayant Murthy, acknowledging his significant contributions to astrophysics, particularly in the areas of the interstellar medium and ultraviolet astronomy.

Key Points

• This honour was bestowed by the International Astronomical Union (IAU), which is responsible for the naming of celestial bodies, highlighting the global recognition of Prof. Murthy's work.
• The asteroid, previously catalogued as 2005 EX296, has been officially designated as (215884) Jayantmurthy, marking a unique tribute to an Indian scientist in the astronomy field.
• The naming of the asteroid after Prof. Murthy serves as an inspiration to the scientific community in India and around the world, showcasing the impactful contributions Indian scientists are making in the realm of space and astrophysics.
• Prof. Jayant Murthy's work on space missions and his extensive research in ultraviolet astronomy have significantly advanced our understanding of the cosmos, making this honour well-deserved.
• This recognition not only celebrates Prof. Murthy's achievements but also spotlights India's growing contributions to global scientific and space research efforts.

The correct answer is option 2.

Key Points

To answer this question, let's first understand the context of the sentence containing the blank labelled as (1):

This ___(1)___ calls for a conducive learning environment, highlighting the importance of infrastructure and spatial planning in fostering these reforms.

• This sentence emphasizes the need for a conducive learning environment and stresses the importance of infrastructure and spatial planning in implementing educational reforms.
• Blank (1) should be filled with a word related to a guiding principle or belief system that guides the creation of a conducive learning environment, such as "philosophy."
• Now, let's understand the meanings of the given words as options:
• Routine - a sequence of actions regularly followed; a fixed program
  • For Example:
  • Her morning routine included jogging in the park and preparing a healthy breakfast.
• Philosophy - the study of fundamental nature, knowledge, reality, existence, values, reason, mind, and language
  • For Example:
  • Eastern philosophy often emphasizes mindfulness and the interconnectedness of all things.
• Hypothesis - a supposition or proposed explanation made based on limited evidence as a starting point for further investigation (परिकल्पना)
  • For Example:
  • Before experimenting, the scientist formulated a hypothesis to guide the research.
• Foundation - the basis or groundwork of anything (आधार)
  • For Example:
  • Education is the foundation for personal and societal development.
• Nostalgia - a sentimental longing or wistful affection for the past, typically for a period or place with happy personal associations (विरह)
  • For Example:
  • Looking at old photographs filled him with nostalgia for the carefree days of his youth.
• So, given the context and the meanings of the words, the most appropriate option to fill in the blank labelled as (1) is "philosophy." It aligns with the idea that a guiding principle or belief system is needed to create a conducive learning environment, emphasizing the importance of infrastructure and spatial planning in fostering educational reforms.
• Therefore, the correct answer is "philosophy."
• The complete sentence would be: "This philosophy calls for a conducive learning environment, highlighting the importance of infrastructure and spatial planning in fostering these reforms."

The correct answer is 'C' i.e. this part of the sentence has an error.

Key Points

• In the third part of the given sentence, the use of the base form of the verb 'translate' is incorrect.
• The given sentence is a passive voice in the present perfect tense as it links the past to the present in some way.
• The present perfect tense refers to an action or state that either occurred at an indefinite time in the past or began in the past and continued to the present time.
• The present perfect tense in a passive voice is formed by have/has + been + the past participle (here, it should be translated).
• The subject 'books' of the sentence is plural and it will take the plural verb 'have'.
• Therefore, the past participle form of the verb 'translated' should be used in place of the base form of the verb 'translate'.
  

Hence, the correct answer is option 3.

Correct sentence: Her books have been translated into 24 languages.

The correct answer is option 4) i.e. A-E, B-F and C-D.
Explanation

We need to join the sentence segments in column 1 with those in column 2 to create sentences that are conceptually and grammatically correct. Let us see how the sentence parts can join.

• Part A talks about how reading certain books have an ennobling influence. 'Ennobling' means 'acquiring greater dignity or nobility of character'. So contextually, it should be joined with part E as it points out what all are influenced by the reading of such books. So, A-E.
• Part B talks about trash. So, contextually, it should be joined with part F which talks about recycle and reuse. So, B-F.
• Part C talks about the personalities of detection dogs and so should be joined with part D that talks about how this personality trait can affect their suitability as pets. So, C-D.

In the given options, the correct answers A-E, B-F and C-D are reflected in option 4, making it the correct answer.

The correct answer is ‘Abrupt’.

Key Points

• The word 'rude', in the context of the phrase 'rude shock', refers to something that is unexpected or abrupt, often in an unpleasant or startling way. (अभद्र or अकस्मात)
  • Example: The sudden thunderstorm was a rude awakening for the campers who were enjoying a sunny day.
• The word 'abrupt' is used to describe something that happens suddenly and unexpectedly, without any warning. (आकस्मिक)
  • Example: The abrupt end of the meeting surprised everyone.
• Hence, the correct synonym for 'rude' in the phrase 'rude shock' is 'abrupt'.

Therefore, the correct answer is- “Option 2”.
Additional Information

• Option 1, 'Mild' means gentle and not severe. (कोमल or हल्का)
• Option 3, 'Respectful' means showing politeness or deference. (सम्मानजनक)
• Option 4, 'Decent' means conforming with generally accepted standards of respectable or moral behavior. (उचित or सभ्य)
• Option 5, 'Gradual' means taking place or progressing slowly or by degrees. (धीरे-धीरे)

The correct answer is ‘Only B’.

Key Points

• Statement B is accurate according to the passage where it's mentioned that merchandise exports surprised on the upside with the highest growth in 11 months.
• Statements A and C are incorrect based on the information in the passage. The government has been trying to control the import bill, and global trade grew, not shrunk.
• Therefore, only statement B is correct.

Therefore, the correct answer is ‘Option 2’.

Additional Information

• Option 1, 3, 4, 5 are incorrect as they include statement A and/or C, which are false according to the passage.

The correct answer is ‘$31.5 billion’.

Key Points

• The passage mentions that the trade deficit hit a record, reaching $31.5 billion.
• This increase in trade deficit was due to a sharper rise in merchandise imports over the last October and nearly 21% rise over September’s tally.
• The passage doesn't point towards any other figures being the size of the trade deficit.
• The other numbers mentioned in the options refer to different economic values, not the trade deficit.

Therefore, the correct answer is ‘Option 2’.

Additional Information

• Option 1, 4, and 5 are values mentioned in the passage, but they don't refer to the trade deficit.
• Option 3 is the figure mentioned for the all-time high of merchandise imports in the passage.

The correct answer is 'Only C'.

Key Points

• Parody means- a piece of writing, speech, or music that copies the style of somebody/something in a funny way.
• In Sentence A, the meaning of parody is understandable. "It includes some brilliant parodies."
• In Sentence B, the meaning of parody is understandable here too. "He had become a grotesque parody of himself and the gallery, at last, began to avert its eyes"
• In Sentence C, the meaning of parody is not being portrayed properly. Here, it is giving another meaning to the sentence.
• Hence, the correct answer is option 3.

Calculation:

Let the number of females visiting both cities be 2x

So, Number of males visiting both cities = 2x × 150% = 3x

Females visiting B only = 2x × 4 = 8x

Males visiting A only = 4 × 3x = 12x

Females visiting A only = 36

Males visiting B only = 16

Now, According to the question

12x + 16 + 3x = 36 + 8x + 2x

⇒ 15x + 16 = 36 + 10x

⇒ 5x = 20

⇒ x = 4

Now, Putting the values in table

Required percentage = (16/32) × 100

⇒ 50%

∴ The required percentage is 50%

Calculation:

Let the number of females visiting both cities be 2x

So, Number of males visiting both cities = 2x × 150% = 3x

Females visiting B only = 2x × 4 = 8x

Males visiting A only = 4 × 3x = 12x

Females visiting A only = 36

Males visiting B only = 16

Now, According to the question

12x + 16 + 3x = 36 + 8x + 2x

⇒ 15x + 16 = 36 + 10x

⇒ 5x = 20

⇒ x = 4

Now, Putting the values in table

Required ratio = 48 : 32

⇒ 3 : 2

∴ Required ratio is 3 : 2

Calculation:

x² – 29x + 204 = 0

⇒ x² – 17x – 12x + 204 = 0

⇒ x (x - 17) – 12(x - 17) = 0

⇒ (x - 17) (x - 12) = 0

⇒ x = 17, 12

2y² – 43y + 176 = 0

⇒ 2y² – 32y – 11y + 176 = 0

⇒ 2y ( y - 16) – 11 ( y - 16) = 0

⇒ (2y - 11) (y - 16) = 0

⇒ y = 11/2, 16

Comparison between x and y (via Tabulation):

∴ The relation between x and y cannot determined.

Given:

I. x² – 20x + 100 = 0

II. y² – 100 = 0

Calculation:

x² – 20x + 100 = 0

⇒ x² – 10x - 10x + 100 = 0

⇒ x(x - 10) - 10(x - 10) = 0

⇒ (x - 10)(x - 10) = 0

Taking,

⇒ (x - 10) = 0

⇒ x = 10

From II,

y² – 100 = 0

⇒ y² = 100

⇒ y = ±√100

⇒ y = ±10

⇒ y = 10 or -10

Comparison between x and y (via Tabulation):

∴ x ≥ y.

Given:

Number of candidates who appeared in 2018 = 480

Number of candidates who appeared in 2020 = 900

percentage of appeared candidates who were unqualified in 2018 = 40%

percentage of appeared candidates who were unqualified in 2020 = 36%

Calculation:

percentage of appeared candidates who were qualified in 2018 = 100 - 40 ⇒ 60%

percentage of appeared candidates who were qualified in 2020 = 100 - 36 ⇒ 64%

Number of qualified candidates in 2018 = 480 × 60/100 ⇒ 288

Number of qualified candidates in 2020 = 900 × 64/100 ⇒ 576

Required %

Solution:

Given:

The curved surface area of cylinder increased by 25%

Calculation:

Let be assume a curved surface area be p

Increased curved surface area is = 5p/4

Percentage change in height = [(5p/4 - p)/p] × (100)

⇒ (1/4) × 100 = 25%

∴ The required percentage change is 25%.

Important Point

The curved surface area of cylinder = 2 × π × r × h

Given: Eight persons join a company on two particular dates of four different months in the same year.

Combining the given conditions, we get the following possibilities as follows-

1. Only two persons joined the company before Jos. Jonny joined the company on the 21st of the month which has 31 days. This gives rise to the following cases-

2. Charles didn’t join the company in the month of April or July. No one joined the company after Marcus. Adding these two conditions to the above two cases we get-

3. Jonny didn’t join the company in the months of July and November. Only two persons join the company in between Jos and Carlos. Charles and Marcus, who are twin brothers, joined the company in the same month. Combining these conditions, we see that Case 2 and Case 3 from the above are eliminated. Hence, we get-

4. Xander and Carlos joined the company in the same month. Patrick joined the company immediately before Xander. Combining these two conditions, we get the final table as follows-

From the above final table, we see that Charles joined the company on the 12th of November.

Hence, Charles joined on the 12th of November.

Given: Eight persons join a company on two particular dates of four different months in the same year.

Combining the given conditions, we get the following possibilities as follows-

1. Only two persons joined the company before Jos. Jonny joined the company on the 21st of the month which has 31 days. This gives rise to the following cases-

2. Charles didn’t join the company in the month of April or July. No one joined the company after Marcus. Adding these two conditions to the above two cases we get-

3. Jonny didn’t join the company in the months of July and November. Only two persons join the company in between Jos and Carlos. Charles and Marcus, who are twin brothers, joined the company in the same month. Combining these conditions, we see that Case 2 and Case 3 from the above are eliminated. Hence, we get-

4. Xander and Carlos joined the company in the same month. Patrick joined the company immediately before Xander. Combining these two conditions, we get the final table as follows-

From the above final table, we see that Patrick joined on the 21st of April and Xander joined on the 12th of Juy.

Hence, CARLOS is the correct answer.

Given:-

Nine items - Perfume, Watch, Raincoat, Coffee, Charger, Purse, Notebook, Racquet, and Knife

Let the first item purchased be numbered 1 and the last item purchased be numbered 9.

Now,

1) The number of items purchased before the Purse is less than the number of items purchased after the Purse. It means at least 5 items were purchased after Purse. So Purse can be numbered 1, 2, 3, or 4.

2) More than three items were purchased after Raincoat. It means Raincoat cannot be numbered 6, 7, 8, and 9.

3) Only two items were purchased between Raincoat and Purse.

So the possibilities are -

4) The Perfume was purchased before Raincoat. So, Raincoat was not the first item to be purchased. We cannot place Perfume yet.

The possible cases are -

5) More than one item was purchased between the Purse and Charger. It means Charger was purchased after Raincoat in both cases.

6) The Perfume was purchased before Charger but not immediately before. So, Perfume was purchased before Raincoat and Charger.

We can place Perfume as follows:

7) Charger was purchased before Racquet.

8) The Knife was purchased before Notebook but after Racquet.

So, the sequence will be Raincoat > Charger > Racquet > Knife > Notebook.

8) Coffee was purchased immediately before Watch. This is possible only in Case II (a).

So, the final arrangement is:

The Perfume was the first item to be purchased.

Hence, the correct answer is Perfume.

The correct answer is AS 9.

Key Points

• AS 9 - Revenue Recognition
  • Provides guidelines on when and how revenue should be recognized in the financial statements, typically when goods are delivered or services are rendered.
• AS 2 - Valuation of Inventories
  • Deals with the methods of valuing inventories.
• AS 10 - Accounting for Fixed Assets
  • Pertains to the accounting treatment of fixed assets.
• AS 16 - Borrowing Costs
  • Deals with the accounting treatment of borrowing costs.
• AS 18 - Related Party Disclosures
  • The objective of this Standard is to establish requirements for disclosure of:
    (a) related party relationships; and
    (b) transactions between a reporting enterprise and its related parties.

The correct answer is Section 203.

Key Points

• Section 203 of the Companies Act, 2013 requires every listed company and certain other classes of companies to appoint the following Key Managerial Personnel (KMP): the Managing Director or Chief Executive Officer (CEO) or manager, and in their absence, a whole-time director; Company Secretary; and Chief Financial Officer (CFO).
• It ensures that companies have designated officials responsible for managing key functions, thereby promoting good governance.
• The section specifies the duties and responsibilities of KMP, including compliance with legal and regulatory requirements.
• Companies must ensure compliance with these requirements to avoid penalties and ensure effective management.
• KMP are crucial for the proper functioning of the company, and their roles are defined to maintain accountability and transparency in corporate governance.

The correct answer is Activity-Based Costing (ABC).

Key Points

• Just-in-Time (JIT) is a strategy to improve a business's return on investment by reducing in-process inventory and associated carrying costs.
• Total Productive Maintenance (TPM) focuses on maintaining and improving production and quality systems through the machines, equipment, processes, and employees.
• Kaizen Costing emphasizes continuous improvement in cost reduction and efficiency.
• 5 Ss refer to five Japanese words that are used to describe the steps of workplace organization: Seiri (Sort), Seiton (Set in order), Seiso (Shine), Seiketsu (Standardize), and Shitsuke (Sustain).
• Activity-Based Costing (ABC) allocates overhead to multiple cost objects, and is not a direct component of Lean Systems.

The correct answer is The change in equilibrium GDP resulting from a change in autonomous spending.

Key Points

• The multiplier effect describes how an initial change in autonomous spending (such as investment, government spending, or exports) leads to a larger change in overall economic output.
• The size of the multiplier depends on the marginal propensity to consume (MPC) and the marginal propensity to save (MPS).
• A higher MPC leads to a larger multiplier effect, as more of the initial spending is re-spent in the economy.
• The formula for the simple multiplier is 1 / (1 - MPC).

Additional Information

• Multiplier Effect
  • Explains how an initial change in autonomous spending leads to a larger change in equilibrium GDP.
• Marginal Propensity to Consume (MPC)
  • The fraction of additional income that households spend on consumption.

The correct answer is Development.

Key Points

• Development
  • Focuses on long-term growth and improvement of employee capabilities, enhancing overall skills, knowledge, and competencies.
• Training
  • Addresses specific skills or knowledge needed for a particular job.
• Appraisal
  • Involves evaluating employee performance and providing feedback.
• Recruitment
  • The process of attracting and selecting candidates for employment.
• Compensation
  • Refers to the salary and benefits provided to employees for their work.

The correct answer is 1, 2, and 3.

Key Points

• Monetary items denominated in foreign currencies are translated at the exchange rates prevailing on the balance sheet date to reflect current market values.
• Non-monetary items carried at historical cost are translated using the exchange rates at the date of the transaction to maintain historical accuracy.
• Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were initially recorded are recognized in profit or loss to reflect the impact of exchange rate fluctuations on financial performance.

The correct answer is Leader.

Key Points

• Henry Mintzberg identified ten managerial roles, which he grouped into three categories: interpersonal, informational, and decisional.
• Interpersonal Roles
  • Include figurehead, leader, and liaison roles, focusing on interactions with subordinates and others.
• Informational Roles
  • Include monitor, disseminator, and spokesperson roles, focusing on processing and sharing information.
• Decisional Roles
  • Include entrepreneur, disturbance handler, resource allocator, and negotiator roles, focusing on decision-making processes.
• Leader Role
  • Involves directing and coordinating the activities of subordinates, as well as providing motivation and support.

The correct answer is Ensuring statutory compliance

Key Points

• Cost and Management Accounting primarily focuses on assisting management in decision-making by providing relevant cost information.
• It facilitates budget preparation and helps in planning and control of financial resources.
• Cost control is a significant objective, aimed at reducing expenses and improving profitability.
• Improving operational efficiency through analysis and management of costs is another key objective.

Additional Information

• Cost and Management Accounting
  • Focuses on the analysis, interpretation, and use of cost data for planning and control within an organization.
• Statutory Compliance
  • Ensuring adherence to laws and regulations, typically a function of financial accounting.

The correct answer is Treasury bond.

Key Points

• Derivatives are financial instruments whose value is derived from an underlying asset, index, or rate.
• Forward contracts, call options, interest rate swaps, and futures contracts are all types of derivatives.
• Treasury bonds are debt securities issued by the government and are not derivatives.
• Derivatives are commonly used for hedging, speculation, and arbitrage in financial markets.
• Treasury bonds are typically used for investment and risk-free return purposes.

Additional Information

• Derivatives
  • Financial instruments whose value is derived from an underlying asset, index, or rate.
• Treasury Bonds
  • Long-term debt securities issued by the government, typically with maturities of more than 10 years.

The correct answer is 1, 2, and 3.

Key Points

• SEBI regulates the securities market to protect the interests of investors and ensure fair practices.
• SEBI promotes the development of the securities market by introducing new products and services to enhance market efficiency and depth.
• SEBI has the authority to impose penalties on market participants for violations of securities laws, thereby maintaining market integrity.

Additional Information

• Securities and Exchange Board of India (SEBI)
  • Established in 1988 and given statutory powers in 1992, SEBI aims to regulate and develop the Indian securities market.
• Investor Protection
  • SEBI ensures that investors are protected from fraudulent practices and that they have access to accurate information for making investment decisions.
• Market Development
  • By introducing new products and services, SEBI promotes the development of the securities market, making it more efficient and accessible.
• Regulatory Authority
  • SEBI has the power to impose penalties and take enforcement actions against market participants who violate securities laws.

The correct answer is Inventory

Key Points

• Non-Monetary Items
  • Include assets that do not have a fixed or determinable amount of money, such as inventory, fixed assets, and intangible assets.
• Monetary Items
  • Include cash and items that will be settled in cash, such as accounts receivable, accounts payable, and bank overdrafts.
• Inventory
  • It is classified as a non-monetary item because its value can fluctuate based on market conditions and it is not a fixed amount of money.
• Cash and Cash Equivalents
  • They are always considered monetary items as they have a fixed or determinable amount of money.

The correct answer is Section 41

Key Points Global Depository Receipt (GDR):

• Global Depository Receipt (GDR) is an instrument in which a company located in a domestic country issues one or more of its shares or convertibles bonds outside the domestic country.
• According to Section 41 of Companies Act 2013, a company may, after passing a special resolution in its general meeting, issue depository receipts in any foreign country in such manner, and subject to such conditions, as may be prescribed.

Important Points Advantages of using GDRs:

• GDR provides access to foreign capital markets.
• GDR can be freely transferred.
• GDR increases the shareholders base of the company.

Disadvantages of Using GDRs:

• Violating any regulation can lead to serious consequences of the company.
• Dividends are paid in the domestic country's currency, which is subject to volatility in the forex market.
• GDR is one of the expensive sources of finance.