The 'Goods and Services Tax' on services provided by IRDAI is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on services provided by IRDAI is:

A. 18%

B. 0%

C. 5%

D. exempt

Answer: Option D

Solution (By JKSSB Mock Tests)

IRDAI services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which Sustainable Development Goal relates to decent work and economic growth?

A. SDG 5

B. SDG 17

C. SDG 8

D. SDG 13

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Correct Answer: Option C

Explanation:
SDG 8 promotes sustained, inclusive economic growth and decent work for all.

This question belongs to: Economy GK Economy Set 1

Question #2

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The term 'Most Favoured Nation' treatment under WTO implies:

A. Complete free trade without any rules

B. Higher tariffs for all members

C. Preferential treatment to one country at the expense of others

D. Non-discriminatory treatment among all member countries

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Correct Answer: Option D

Explanation:
The MFN principle requires that any trade advantage granted to one WTO member must be extended to all other members, ensuring non-discrimination.

This question belongs to: Economy GK Economy Set 1

Question #3

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Under a floating exchange rate system, a fall in the external value of a currency due to market forces is called:

A. devaluation

B. revaluation

C. appreciation

D. depreciation

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Correct Answer: Option D

Explanation:
A market-driven fall in the external value of a currency is called depreciation.

This question belongs to: Economy GK Economy Set 1

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