10th March Static Quiz 2021
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10th March Static Quiz 2021 for UPSC Prelims
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- Question 1 of 5
1. Question
Which of the following is/are the characteristic features of ‘legal tender’ in India?
1. They cannot be refused by any citizen of the country for settlement of any kind of transaction.
2. It has its own intrinsic value.
3. All legal tenders are issued by the Reserve Bank of India.
Select the correct answer using the code given below.CorrectAnswer: A
Currency notes are issued by RBI, coins are issued by the central government. Hence
statement 3 is not correct.They do not have intrinsic value like gold or silver coin.
Incorrect - Question 2 of 5
2. Question
With reference to Initial Public Offering (IPO), consider the following statements:
1. It is the offering of a stock of a company for the first time in the secondary capital
market.
2. Foreign Institutional Investor (FII) are allowed to invest only in listed or to-be listed entities.
Which of the statements given above is/are correct?CorrectIncorrectAnswer: B
When a company publicly sells new stocks and bonds for the first time, it does so in the primary
capital market. This market is also called the new issues market. In many cases, the new issue takes the
form of an initial public offering (IPO).Foreign Institutional Investor (FII)
could invest in the securities in the primary and secondary markets including shares, debentures
and warrants of companies unlisted, listed or to be listed on a recognized stock exchange in India. - Question 3 of 5
3. Question
When the government increases spending by borrowing today, which will be repaid by
taxes in the future, it will have the same impact on the economy as an increase in
government expenditure that is financed by a tax increase today.
Which of the following theories is best described by the above passage?CorrectAnswer: B
Incorrect - Question 4 of 5
4. Question
Why the Reserve Bank of India is known as ‘lender of last resort’?
1. It provides lending facilities to the banks at all times.
2. It provides foreign exchange to the government for meeting its import obligations.
Select the correct answer using the code given below.CorrectSolution: A
IncorrectSolution: A
- Question 5 of 5
5. Question
Consider the statements regarding Financial Stability and Development Council:
1. It addresses the inter-regulatory coordination issues in the financial sector.
2. It is headed by RBI Governor.
Which of the statements given above is/are correct?CorrectAnswer: A
The Chairman of the FSDC is the Finance Minister of India and its members include the heads of
the financial sector regulatory authorities (i.e., SEBI, IRDA, RBI, PFRDA and FMC) , Finance
Secretary and/or Secretary, Department of Economic Affairs (Ministry of Finance), Secretary,
(Department of Financial Services, Ministry of Finance) and the Chief Economic Adviser. Hence,
statement 2 is not correct.Incorrect
