| Post Name | Accountant- KERAFED 009/2024,010/2024 |
|---|---|
| Question Paper Code | 024/2025 |
| Category Code | 009/2024 |
| Date of Test | 22 February 2025 |
| Medium of Question | ENGLISH |
| Exam Type | OMR Examination |
| Total Questions | 100 |
1
Among the following, which is/are the feature(s) of capitalism? 1. It allows private ownership of resources 2. It involves Centralized economic planning 3. It is primarily driven by Profit motive
Answer
A. Only 1 and 3 correct
2
Among the following, which is/are the criticisms of socialism? 1. It does not provide incentives for innovation 2. It has Bureaucratic inefficiency 3. It experiences existence of economic inequality
Answer
D. Only 1 and 2 correct
3
The common feature between a cooperative society and a joint stock company is that: 1. Both types of organizations offer limited liability to their members 2. Both are considered separate legal entities from their members 3. In both structures, ownership interests can be transferred
Answer
D. All correct
4
Among the following, which is/are the features of partnership? 1. Existence of Unlimited liability for the partners 2. Always Membership is limited to two persons 3. Gains or losses are shared based on mutual agreement
Answer
A. Only 1 and 3 correct
5
Among the following cooperative principle(s), which was/were developed by the Rochdale Pioneers? 1 Democratic member control 2. Distribution of surplus based on investment 3. Open and voluntary membership
Answer
C. Only 1 and 3 correct Ξ
6
Among the following, which was/were included in the reformulated principles of The International Cooperative Alliance (ICA)? 1. Concern for community 2. Voluntary membership 3. Cooperation among cooperatives
Answer
D. All correct
7
Karve Committee has viewed that, the key feature of cooperative societies should be: 1. Voluntary membership 2. A focus on profit maximization 3. Limited member liability
Answer
C. Only 1 correct
8
Which of the following is a cooperative value, as per International Cooperative Alliance (ICA)? 1. equity 2. self-responsibility 3. solidarity
Answer
D. All correct
9
What is/are the objectives of NAFED? 1. Promoting the cooperative marketing of agricultural products 2. Regulating the prices of agricultural products 3. Providing financial support to farmers and cooperatives
Answer
D. All correct
10
What is/are the objectives of KRIBCO? 1. Manufacturing and supply fertilizers for providing to the farmers 2. Facilitating the import of agricultural products 3. Promoting agricultural and rural development through cooperatives
Answer
C. Only 1 and 3 correct
11
What is true about the administration of IFFCO? 1. Management is led by elected representatives from cooperatives 2. Management is appointed by the central government 3. Managed by a board of directors elected by its cooperative members
Answer
C. Only 1 and 3 correct
12
What is/are the objectives of NABARD? 1. To Promote rural development and credit flow in rural areas 2. To supervise and regulate commercial banks in India 3. To provide financial assistance for agricultural and rural infrastructure projects
Answer
A. Only 1 and 3 correct
13
What is/are true about the execution of arbitration awards? They can be enforced as a decree of a civil court 1. 2. They Require approval from the Registrar of cooperative societies 3. They are governed by state-specific cooperative laws
Answer
D. Only 1 and 3 correct
14
What is/are true about the Arbitration, in the case of cooperative disputes? 1. Arbitration process involves resolving disputes outside the courts 2. Arbitration requires the presence of legal advocates for all the parties involved 3. Arbitration is normally faster than traditional process of litigation
Answer
A. Only 1 and 3 correct
15
Which is/are the nature of Execution of an award given as a result of arbitration? 1. the award is treated as a decree of a civil court 2. in order to execute, a separate law suit is needed 3. the award must be confirmed by a higher legal authority
Answer
C. Only 1 correct Ξ
16
The Cooperative Tribunal is constituted primarily with the objective of: 1. Resolving disputes arising within cooperative societies 2. Overseeing the financial audits of cooperative societies 3. Enforcing penalties for non-compliance with cooperative laws
Answer
C. Only 1 correct
17
Forms of state aid to cooperatives include: 1. Purchasing shares in societies with limited liability 2. Providing grants for infrastructure development 3. Offering tax exemptions to cooperative societies
Answer
C. Only 1 and 2 correct
18
What is true about Principal State partnership Fund 1. Established as per Section 41 of The Kerala State Cooperative Societies Act 1969 2. Can be used for directly purchasing shares in other co-operative societies with unlimited liability 3. Cannot be used to make payments to the State Government
Answer
A. All wrong
19
What is true about Subsidiary State Partnership Fund? 1 Establishment by a central society 2. Can be used for making payments to the apex society 3. Established as per Section 43 of The Kerala Co-operative Societies Act, 1969
Answer
C. Only 1 and 2 correct
20
Which is a form of State aid to societies as per Sec. 53 of The Kerala Co-operative Societies Act, 1969? 1. Guaranteeing the payment of interest on debentures issued by a society 2. Giving loans to societies 3. Giving financial assistance in the form of subsidies, to a society
Answer
D. All correct
21
An auditor of a Cooperative society finds difference between physical balance and book balance of Cash. He is supposed to do all of the following, except
Answer
A. If the physical balance is less, immediately file a case before the SHO of the Police station having jurisdiction over that society and report it to the higher officers of the auditor.
22
Audit Fees for primary cooperative credit societies (Other than long term) is calculated based on which of the following?
Answer
D. Amount of working capital
23
An auditor have the power to summon any person in possession of books, accounts, documents etc to the office of the Director of cooperative audit or to any subordinate office of him, if:
Answer
A. There is no working office for a society
24
Who among the following maintain and administer the relief fund for the members of Cooperative Societies?
Answer
C. Registrar of Co-operative Societies
25
What is the audit fee charged for the audit of first year accounts of a society?
Answer
B. No Fee
26
Identify the exact name of act passes to regulate cooperative societies in British India during 1904?
Answer
D. The Co-Operative Credit Societies Act 1904 Ξ
27
As per Cooperative Societies Act 1912, if a dispute arises on the status of a person to be admitted as member, such as agriculturists or not, etc, who take the decision which is treated as final?
Answer
B. The Registrar
28
On transfer of cooperation as a provincial subject, in British India, which of the following province passed its own cooperative societies act at first?
Answer
A. Bombay Province
29
'SURABHI' is related to which of the following?
Answer
A. Handicrafts
30
Consider the following statements on the Multi-State Co-operative Societies Act, 2002. Identify the wrong one:
Answer
D. It extends to the whole of India except the state of Jammu & Kashmir
31
In general, a Multi-State Co-operative Societies can be categorised into which of the following?
Answer
B. A unitary type of Co-operative Society
32
Which of the following can be considered as a designer cooperative society?
Answer
A. APCOS
33
In which year the International Cooperative Alliance had adopted a revised statement on the Cooperative Identity?
Answer
C. 1995
34
Which of the following Committee recommended the creation of Multi-purpose Cooperative Society at first?
Answer
D. The Mehta Committee 1937
35
Following statements are on 'Producer Companies'. Identify the wrong one:
Answer
B. Maximum number of members are restricted to hundred
36
Following statements are on 'Parallel Cooperative Legislations'. Identify the wrong one:
Answer
D. Such societies can receive financial assistance from Government only as capital participation
37
Following statements are on Integrated Fisheries Development Projects (IFDP). Identify the wrong one :
Answer
B. The loan is provided directly to the fishermen by the Matsyafed
38
Following statements are on NAFED. Identify the wrong one:
Answer
C. It is created on the basis of recommendations given by V.L. Mehta Committee of 1959
39
The Multi-Unit Cooperative Societies Act was passed in which year?
Answer
C. 1942
40
Following statements are on Kerala State Co-operatives Consumers' Federation Ltd. Identify the wrong one:
Answer
C. All primary consumer cooperative societies are members of the federation
41
Which of the following statement is/are correct with regard to the need for correspondent banking? To have access to foreign market (i) (ii) To facilitate liquidity management
Answer
C. Both (i) and (ii)
42
Which of the following is not an element for framing KYC norms for a bank.
Answer
B. Customer security provisions
43
Which of the following are considered as valid exceptions in the case of pledge by non owner (i) Mercantile agent A pledger who has only a limited interest in goods (ii) (iii) One of the joint owners in sole possession of goods.
Answer
D. (i), (ii) and (iii)
44
Which among the following banks is not a party to Letter of Credit?
Answer
A. Refinancing Bank
45
Which among the following statements are correct with regard to RBI? Statement I : Market Stability Scheme is used by RBI to manage surplus liquidity Statement II : Open market operation are conducted by RBI by directly undertaking transactions in primary market.
Answer
A. Statement I only is correct
46
Two major schools of thought regarding principles of note issue.
Answer
C. Banking Principle and Currency Principle
47
Which among the following statement/statements is /are true about RBI? Statement I: RBI was initially privately owned and after nationalisation in 1969 RBI is fully owned by the Government of India. Statement II : Central Office of RBI was initially established in Delhi, and later permanently moved to Mumbai.
Answer
D. Both Statements are Incorrect
48
Which of the following qualitative instruments are used by Reserve Bank of India? Moral Sussion (i) Direct Action (ii) (iii) Publicity
Answer
D. (i), (ii) and (iii)
49
Which among the following are the domestic subsidiaries of State Bank of India? CIBIL (i) CCIL (ii)
Answer
Question Cancelled
50
Service Area approach is an important development in the area of:
Answer
D. Rural lending
51
The purpose of differential interest rate scheme introduced by public sector bank:
Answer
C. To assist the weakest among the weaker segments of the society
52
Which among the following statements are true with regard to Regional Rural Banks? Statement I: RRBs aims to provide credit facilities to small and marginal farmers. Statement II : RRBs are sponsored by the state governments.
Answer
A. Statement I only
53
Which of the following recommendation is not involved in Narasimham Committee report on financial system?
Answer
B. Introduction of derivative instruments
54
Which of the following statements are correct with regard to Local Area Banks? Statement I : They are registered as public limited companies under Companies Act. Statement II: They will not be eligible for inclusion in the second schedule of the Reserve Bank of India Act.
Answer
B. Statement I only
55
Payment bank is not permitted for:
Answer
C. Issuance of Credit Cards
56
Which among the districts are considered as Special Focus districts under NABARD's Financial Fund? Aspirational districts (i) LWE districts (ii) (iii) Credit deficient districts
Answer
A. (i), (ii) and (iii)
57
Which of the following types of financial institutions are excluded from the scope of Banking Regulation Act, 1949? Primary Agricultural Credit Society. (i) (ii) Cooperative Land Mortgage Bank.
Answer
C. (i) and (ii)
58
As per Banking Regulation Act, 1949, which of the following returns are excluded from submission to RBI on a periodic basis:
Answer
B. Weekly Returns
59
According to the provisions of the Banking Regulations Act, 1949 which of the following forms of business can be lawfully undertaken by a bank: Indemnity and guarantee business (i) (ii) Undertaking and executing trust
Answer
A. Both (i) and (ii)
60
In which of the following situation/situations high court shall order the compulsory winding of a banking company? If the banking company is unable to pay its debts. (i) (ii) If the application for winding up has been submitted by the banking company.
Answer
A. In (i) only
61
When a banker opens an account in favor of a person by accepting some money, he assumes the position of a:
Answer
A. Debtor
62
An authenticated copy of the customer's account in the bank's own book:
Answer
B. Bank passbook
63
Loan of a married woman can be recovered only out of:
Answer
C. Her personal assets
64
When a person dies without making any will or makes a will but does not mention βββ to wind up his estate. anyone as executor, the court appoints β
Answer
B. Administrator
65
Who is the person who creates a bill of Exchange?
Answer
A. Drawer
66
A cheque which is overdue is called:
Answer
A. Stale cheque
67
Bills to which shipping documents are attached:
Answer
B. Documentary Bills
68
In a MICR cheque, the last three numbers in the code line indicates:
Answer
D. Branch Code
69
A technique of reducing the flow of cheque is called:
Answer
A. Cheque truncation
70
Contributions made towards Atal Pension Yojana are eligible for tax benefits under of the Income Tax Act.
Answer
C. 80 CCD
71
Which of the following is the one-time settlement scheme launched by IDBI Bank for retail NPAs?
Answer
C. Sugam Rinn Bhugtan Yojana
72
Women SHG member appointee as a banking agent is called:
Answer
C. Bank Sakhi
73
How many characters does IFSC code have :
Answer
C. 11
74
Which of the following is the Key feature of a digital Signature which ensure the authenticity of online banking transaction?
Answer
B. Public Key Cryptography with a private key held by a customer
75
What is the full form of CBDC?
Answer
D. Central Bank Digital Currency
76
____ is an alphanumeric code that uniquely identifies a bank branch participating in any NEFT system.
Answer
A. IFSC
77
A loan becomes a NPAs when the interest or principal becomes overdue for a period of:
Answer
B. 90 days
78
A measure of the amount of a bank Capital Expressed as a percentage of its risk weighted cred exposure:
Answer
A. Capital Adequacy Ratio
79
Right of a bank to retain the property belonging to the debtor until he has discharged the debt due to the retainer of the property:
Answer
A. Lien
80
The risk coverage being provided in the Pradhan Manthri Jeevan Jyothi Bima Yojana is:
Answer
A. 2 lakhs
81
Which of the following best describes the role of the ALU in a CPU?
Answer
B. Performing arithmetic and logical operations
82
Which type of memory is non-volatile and used to store firmware in most computers?
Answer
D. ROM
83
Supercomputers are characterized by their:
Answer
B. High-speed processing and use in complex scientific calculations
84
Which of the following best explains the primary function of system software?
Answer
A. Managing and coordinating computer hardware resources
85
How are hexadecimal numbers represented in comparison to binary numbers?
Answer
C. Each hexadecimal digit corresponds to four binary bits
86
Which MS Word feature allows the user to apply a uniform look to the document using predefined formatting elements?
Answer
A. Styles
87
What is the purpose of the 'Track Changes' feature in MS Word?
Answer
B. To highlight the modifications made by different users
88
In a spreadsheet, what is the function of an absolute cell reference in formulas?
Answer
D. It locks the reference to a specific cell, even when the formula is copied
89
Which feature in a worksheet allows you to keep row and column labels visible while scrolling through a large dataset?
Answer
A. Freeze Panes
90
Which PowerPoint feature allows you to animate the transition between slides for a more dynamic presentation?
Answer
B. Slide Transitions
91
Which of the following statements about objects in Object-Oriented Programming (OOP) is true?
Answer
B. An object can have its state changed during runtime
92
In C++, what happens if an array is declared with a size of 10 and an attempt is made to access the 15th element?
Answer
B. The behavior is undefined
93
In Visual Basic, which event occurs when a user releases a mouse button over a form?
Answer
B. MouseUp
94
What is the output of the following VB.NET code? Dim i As Integer = 1 Do Until i >5 Console.WriteLine(i) \(i + = 2\) Loop
Answer
B. 1 3 5
95
In an ER diagram, which symbol represents a 'weak entity'?
Answer
B. Double rectangle
96
Which of the following is true about correlated subqueries?
Answer
B. They execute for every row returned by the outer query
97
Which SQL join will include all rows from the left table and only the matching rows from the right table?
Answer
C. LEFT JOIN
98
Which of the following is NOT a role of a web server?
Answer
B. Processing client-side scripts
99
Which of the following is true about the element in HTML?
Answer
B. It is used to display a web page within a web page
100
In JavaScript, which keyword declares a block-scoped variable?
Answer
D. both (B) and (C)
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