Q.1 In context with Limited Liability Partnership, consider the following statements:

1) In this no partner would be liable on account of the independent or unauthorized actions of other partners

2) It allow individual partners to be shielded from joint liability

3) It is a legal entity separate from its partners

Codes:

A) 1 & 3

B) 2 & 3

C) 1 & 2

D) 1,2,3

Ans. D

Q.2 Which of the following are the characteristics of the Participatory notes ?

1) These are used by the Foreign institutional Investors who are not registered with SEBI

2) They are used on Indian shares outside India

3) These are derivative instruments

Codes:

A) 1 & 3

B) 2 & 3

C) 1 & 2

D) 1,2,3

Ans. D

Q.3  Regarding Law commission, which among the following statements are correct ?

1) It is constitutional body

2) Its recommendations are binding upon the Government

3) It is inspired by the Fundamental Rights, Fundamental Duties & Directive Principles Of State Policy of the Constitution

Codes:

A) 1 & 3

B) Only 2

C) 2 & 3

D) All are incorrect

Ans. D

It is inspired by the Fundamental Rights  & Directive Principles Of State Policy of the Constitution

Its recommendations are not binding upon the Government

It is not a constitutional body as it is advisory body

Q.4 Which of the following are the reasons for the slowdown of an Indian Economy ?

1) Weak monsoon

2) Tight Monetary Policy

3) Fiscal Stimulus

Codes:

A) 1 & 3

B) 2 & 3

C) 1 & 2

D) 1,2,3

Ans. C

Q.5 Which of the following are the Transfer Payments ?

1) Pensions

2) Subsidies

3) Social security expenditure

Codes:

A) 1 & 3

B) 2 & 3

C) 1 & 2

D) 1,2,3

Ans. D

Q.6 Which of the following are the reasons for which Double taxation Agreement is to be signed between two countries ?

1) It will provide tax stability to the residents of both the countries

2) It will stimulate the flow of investment, technology & Services between both the countries

3) It will provide assistance in collection of taxes between the tax authorities of both the countries

Codes:

A) 1 & 3

B) 2 & 3

C) 1 & 2

D) 1,2,3

Ans. D

Q.7 In context with the Jawahar Lal Nehru National Solar Mission, which of the following are correct ?

1) It was launched in the year of 2011

2) It is the part of the national action plan on climate change

3) Its mission is to have a 20 GW of grid connected solar power & to make it as cheap as electricity

Codes:

A) 1 & 3

B) 2 & 3

C) 1 & 2

D) 1,2,3

Ans. D