Quiz Answer Sheet

 Department of Commerce – Quiz Answer Sheet

Round 1: Basics Round

1) What do you mean by ‘disinvestment’

Disinvestment means the process of selling or reducing the government’s stake in public sector enterprises (PSEs) or assets. This is done to raise funds, improve efficiency, and reduce the fiscal burden on the government.

2) Who signs on One Rupees Note of Indian Currency?

The one-rupee note is signed by the Finance Secretary because it is issued by the Government of India, not the Reserve Bank of India (RBI).

3) What is the difference between Monetary policy and fiscal policy?

Monetary policy: It is managed by RBI and controls the money supply and interest rates to regulate the economy.

Fiscal policy: It is prepared by Ministry of Finance, Govt of India that is related to govt spending and taxation that influence the economy.

4) Expand PPP

Purchasing power parity helps in comparing purchasing power of various currencies.

5) What is Opportunity Cost?

Opportunity cost is the value of the next best alternative that must be given up when making a choice.

6) What is trade deficit?

A trade deficit occurs when a country imports more goods and services than it exports.

7) What do you mean by Prospectus?

A prospectus is a formal document that provides detailed information about a company’s financials, operations, and business activities. It is typically issued by companies when offering new securities to the public (such as stocks or bonds).

8) What is the difference between a Debit Card and a Credit Card?

A debit card uses funds from your bank account, while a credit card allows you to borrow money up to a set limit to make purchases.

9) What do you mean by Reverse repo rate?

The reverse repo rate is the rate at which commercial banks lend money to the central bank (such as the Reserve Bank of India) for a short term. It is the opposite of the repo rate, where the central bank lends money to commercial banks.

Round 2: Business lottery

1) Accounting

Define FIFO and LIFO methods

FIFO (First In, First Out) assumes that the first items purchased are first sold, while LIFO (Last In, First Out) assumes the last items purchased are first sold.

What is the full form of IAS in the field of accounting?

IAS stands for International Accounting Standards.

2) Indian Economy

Expand NITI Aayog and name the current chairman of it?

National Institution for Transforming India Aayog

It’s ex- officio chairman is Prime Minister of India i.e. Narendra Modi

Which is the largest Public Sector Undertaking in India?

The largest PSU in India is Indian Oil Corporation Limited (IOCL).

3) Finance

Name the government-owned financial institution in India that focuses on promoting international trade and investment?

EXIM Bank, or Export-Import Bank of India, provides financial products and services to support the export and import activities of Indian businesses

Expand NBFC - Non-Banking Financial Company.

4) Marketing

Which is the largest company in the world in terms of market capitalisation?

Apple Incorporated (Inc.) is the largest company in the world by market capitalization, valued at approximately $3.78 trillion.

Expand SEO and Explain its importance?

SEO (Search Engine Optimization) is the process of optimizing a website to improve its visibility on search engines like Google, Bing.

5) Banking

Who is the first Indian to serve as the Governor of RBI?

Sir Chintaman Dwarakanath Deshmukh (C.D. Deshmukh) from1943 to 1949

Expand NPA in terms of Banking

An NPA is a loan or advance for which the borrower has not made interest or principal payments for a specified period, usually 90 days or more.

6) Computer programs

Expand OOP: OOP is a programming paradigm based on the concept of objects, which contain data and methods to manipulate that data.

Expand SQL: SQL (Structured Query Language) is a programming language used for managing and querying data in relational databases.

7) Laws and Acts

Which Act governs the registration, protection, and enforcement of trademarks in India?

The Trade Marks Act 1999 governs the registration, protection, and enforcement of trademarks in India, providing legal protection to businesses and their brands.

Which Act defines laws regarding Contracts, agreements and their enforceability.

Indian Contract Act, 1872

Round 4: Guess the Answer (Only Important questions)

Question 1

1) Clue 1: I am known as the “Warren Buffett of India.”

2) Clue 2: I run one of India’s most successful stock trading firms.

3) Clue 3: My investment mantra was long-term value investing.

Answer: Rakesh Jhunjhunwala

Question 2

1) I am known as the “Iron Lady of India” in banking.

2) Clue 2: I was the first woman to head India’s largest public sector bank.

3) Clue 3: I led the merger of five associate banks with SBI.

Answer: Arundhati Bhattacharya

Question 5

1) I am the India largest IT company

2) I am established in 1968 by Faqir Chand Kohli with just a capital of ₹10000

3) My name is named after TATA Group

Answer: Tata Consultancy services (TCS)