Economy Set 1 MCQs

Economy GK

Economy Set 1 MCQs

Practice Economy GK MCQs on basic economic concepts including economy, economics, microeconomics, macroeconomics, goods and services, demand and supply, factors of production, opportunity cost, economic activities, sectors of economy and other fundamental concepts frequently asked in SSC, Railway, Banking, UPSC, JKSSB, JKPSC, Police, Defence and other competitive examinations.

2220
Total Questions

Practice Questions

Page 69 of 111
Question #1361
The 'Banking Regulation Act' was passed in which year?
A. 1934
B. 1969
C. 1956
D. 1949
Discuss
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Correct Answer: Option D

Explanation:
The Banking Regulation Act was passed in 1949.
This question belongs to: Economy GK Economy Set 1
Question #1362
The 'Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act' was enacted in which year?
A. 2010
B. 2002
C. 2005
D. 1999
Discuss
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Correct Answer: Option B

Explanation:
SARFAESI Act was enacted in 2002.
This question belongs to: Economy GK Economy Set 1
Question #1363
The 'Credit Information Bureau (India) Limited' is commonly known as:
A. ICRA
B. CARE
C. CRISIL
D. CIBIL
Discuss
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Correct Answer: Option D

Explanation:
Credit Information Bureau (India) Limited is known as CIBIL.
This question belongs to: Economy GK Economy Set 1
Question #1364
The 'credit rating agency' that is a full form of CRISIL is:
A. Credit Rating and Investment Services of India Limited
B. Credit Rating Information Services of India Limited
C. Central Rating and Investment Services of India Limited
D. Credit Research and Investment Services of India Limited
Discuss
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Correct Answer: Option B

Explanation:
CRISIL stands for Credit Rating Information Services of India Limited.
This question belongs to: Economy GK Economy Set 1
Question #1365
The 'ICRA' in India is a:
A. insurance company
B. credit rating agency
C. stock exchange
D. bank
Discuss
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Correct Answer: Option B

Explanation:
ICRA is a credit rating agency.
This question belongs to: Economy GK Economy Set 1
Question #1366
The 'Securities and Exchange Board of India' is a:
A. government department
B. statutory body
C. private company
D. constitutional body
Discuss
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Correct Answer: Option B

Explanation:
SEBI is a statutory body established under the SEBI Act, 1992.
This question belongs to: Economy GK Economy Set 1
Question #1367
The 'Securities and Exchange Board of India' was established in 1988 but became a statutory body in:
A. 1995
B. 1990
C. 2000
D. 1992
Discuss
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Correct Answer: Option D

Explanation:
SEBI became a statutory body in 1992.
This question belongs to: Economy GK Economy Set 1
Question #1368
The 'Insurance Regulatory and Development Authority of India' is a:
A. statutory body
B. private regulator
C. constitutional body
D. government department
Discuss
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Correct Answer: Option A

Explanation:
IRDAI is a statutory body established under the IRDA Act, 1999.
This question belongs to: Economy GK Economy Set 1
Question #1369
The 'Pension Fund Regulatory and Development Authority' is a:
A. private company
B. statutory body
C. constitutional body
D. government department
Discuss
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Correct Answer: Option B

Explanation:
PFRDA is a statutory body established under the PFRDA Act, 2013.
This question belongs to: Economy GK Economy Set 1
Question #1370
The 'Forward Markets Commission' was merged with which organization in 2015?
A. NITI Aayog
B. SEBI
C. RBI
D. IRDAI
Discuss
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Correct Answer: Option B

Explanation:
The Forward Markets Commission was merged with SEBI in 2015.
This question belongs to: Economy GK Economy Set 1
Question #1371
The 'Bombay Stock Exchange' is the oldest stock exchange in Asia and was established in:
A. 1947
B. 1875
C. 1900
D. 1850
Discuss
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Correct Answer: Option B

Explanation:
BSE was established in 1875.
This question belongs to: Economy GK Economy Set 1
Question #1372
The 'National Stock Exchange' was established in:
A. 1992
B. 1995
C. 1875
D. 2000
Discuss
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Correct Answer: Option A

Explanation:
NSE was established in 1992.
This question belongs to: Economy GK Economy Set 1
Question #1373
The 'Sensex' comprises how many actively traded stocks of BSE?
A. 30
B. 50
C. 100
D. 200
Discuss
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Correct Answer: Option A

Explanation:
Sensex is based on 30 actively traded stocks of BSE.
This question belongs to: Economy GK Economy Set 1
Question #1374
The 'Nifty 50' index comprises how many stocks of NSE?
A. 30
B. 100
C. 200
D. 50
Discuss
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Correct Answer: Option D

Explanation:
Nifty 50 comprises 50 stocks of NSE.
This question belongs to: Economy GK Economy Set 1
Question #1375
The 'bank rate' in India is currently aligned with:
A. MSF rate
B. reverse repo rate
C. CRR
D. repo rate
Discuss
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Correct Answer: Option A

Explanation:
The bank rate is aligned with the MSF rate.
This question belongs to: Economy GK Economy Set 1
Question #1376
The 'overdraft' facility is typically associated with:
A. drawing more than the balance in a current account
B. credit cards
C. fixed deposits
D. insurance
Discuss
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Correct Answer: Option A

Explanation:
An overdraft allows a customer to draw more than the available balance in a current account.
This question belongs to: Economy GK Economy Set 1
Question #1377
The 'debit card' enables a customer to:
A. spend money directly from their bank account
B. buy stocks
C. borrow money for purchases
D. take insurance
Discuss
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Correct Answer: Option A

Explanation:
A debit card allows direct spending from a customer's bank account.
This question belongs to: Economy GK Economy Set 1
Question #1378
The 'credit card' allows a customer to:
A. spend from bank account only
B. trade securities
C. borrow money up to a limit for purchases
D. deposit cash only
Discuss
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Correct Answer: Option C

Explanation:
A credit card allows borrowing up to a limit for purchases.
This question belongs to: Economy GK Economy Set 1
Question #1379
The 'Aadhaar Enabled Payment System' uses which biometric identifier?
A. Only PIN
B. Only password
C. Only voice
D. Fingerprint and iris
Discuss
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Correct Answer: Option D

Explanation:
AEPS uses Aadhaar number and biometric authentication such as fingerprint or iris.
This question belongs to: Economy GK Economy Set 1
Question #1380
The 'Bharat Interface for Money' is a mobile application for:
A. UPI-based payments
B. loan applications
C. tax payment
D. insurance
Discuss
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Correct Answer: Option A

Explanation:
BHIM is a UPI-based mobile payment app.
This question belongs to: Economy GK Economy Set 1
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