| Post Name | JR. INSPECTOR OF CO-OPERATIVE SOCIETIES (Co-operation) |
|---|---|
| Question Paper Code | 120/2024 |
| Category Code | 640/2023 |
| Date of Test | 5 September 2024 |
| Medium of Question | ENGLISH |
| Exam Type | OMR Examination |
| Total Questions | 100 |
1
Choose the incorrect answer :
The following are the common points between Co-operative Society and the Capitalistic
concern.
(i) Co-operation and Capitalism uses labour and other factors and obtain at very low
price
(ii) Both employ executives and pay them well
(iii) Both depend on business efficiency
(iv) None of the above
Answer
D. (iv) only
2
Choose the incorrect answer :
The major differences between co-operation and Capitalism are :
(i) Co-operation is for protecting the members interest where as Capitalism is for
protecting shareholders interest.
(ii) In Co-operation membership is open but in capitalism membership is restricted.
(iii) Administration of Co-operation is based on Democratic Principles where as
capitalism it is vested with few people
(iv) None of the above
Answer
Question Cancelled
3
Choose the most appropriate answer regarding co-operation and socialism :
(i) Co-operation and socialism aims at the welfare of the community
(ii) Both lay emphasis on distribution of wealth
(iii) Both try for eliminating the evil effects of competition
(iv) All of the above
Answer
A. (iv)
4
Choose the appropriate answer regarding the differences between sole trader business
and co-operative society :
(i) The main aim of sole trader business is to make profit where as co-operative
society is to render services to members
(ii) Both organization liability is Unlimited
(iii) Sole trader cannot raise capital by issuing shares where as co-operative society’s
capital is raised by issuing shares
(iv) All of the above
Answer
D. (i) and (iii)
A 3
5
Choose the most appropriate answers from given below statements :
(i) The membership pattern of co-operative society are 25 persons drawn from
different families
(ii) Co-operative society can raise funds from members
(iii) Co-operative societies profits are shared equally among members
(iv) All of the above
Answer
B. (i) and (ii) only
6
Choose the most appropriate answer from the options given below :
Roachdale Principles(First Stage) includes the following
(i) Open membership
(ii) Unlimited Interest on Share Capital
(iii) Democratic Control
(iv) Cash trading
Answer
C. (i), (iii) and (iv) only
7
Choose the most appropriate answer :
Why Roachdate is called Pioneers of Co-operative Movement?
(i) They are responsible for organizing the first permanent successful co-operative
store
(ii) They succeeded in giving a definite shape to the co-operative movement
(iii) The individual involved there in were outstanding personalities
(iv) Their profits are shared equally among members
Answer
C. (i), (ii) and (iii) only
8
The essential Principle of ICA (Second Stage) includes the following :
(i) Open Membership
(ii) Democratic Control
(iii) Limited Interest on Share Capital
(iv) Promotion of Education
Answer
C. (i), (ii), (iii) only
9
The Non Essential Principle of ICA (Second Stage) includes the following :
(i) Religious and Political Neutrality
(ii) Selling Pure and Unadulterated Goods
(iii) Cash Trading
(iv) Patronage Dividend
Answer
B. (i), (ii), (iii)
10
Choose the most appropriate answer :
The principles of ICA 1995 includes the following
(i) Member Economic Participation
(ii) Autonomy and Independence
(iii) Education, Training and Information
(iv) Co-operation among Co-operatives
Answer
A. (i), (ii), (iii) and (iv)
11
Which are the Non agriculture credit societies in Kerala?
(i) MARKFED
(ii) KERAFED
(iii) Primary Housing Societies
(iv) District Co-operative Bank
Answer
Question Cancelled
12
Which society is organized mainly for providing employment opportunities to unskilled
workers in rural areas?
Answer
C. Labour Contract Societies
13
Choose the most appropriate answer :
The objectives of RAIDCO are
(i) To supply agricultural implements to agriculturist at reasonable price
(ii) To organize repair and service centers
(iii) To supply of agriculture spare parts and inputs
(iv) To organize fruit processing unit
Answer
C. (i), (ii), (iii) and (iv)
14
Choose the most appropriate answers :
Which are the internal sources of service co-operative banks?
(i) Share Capital
(ii) Entrance fees
(iii) Reserve fund
(iv) Grants and subsidies from Govt.
Answer
A. (i), (ii), (iii)
15
Choose the most appropriate answers :
Which are the objectives of District Co-operative Banks?
(i) To provide Loans to affiliated co-operative credit societies.
(ii) To arrange for supervision and control of affiliated societies.
(iii) To maintain and utilize subsidiary state partnership fund
(iv) To open branches of the bank
Answer
B. (i), (ii), (iii) and (iv)
16
Choose the most appropriate answers :
The following are the objectives of PCARDB
(i) To promote economic interest of its members
(ii) To lend on security of Fixed Assets
(iii) Purchase of machinery
(iv) To provide loans for small scale industries
Answer
D. All of the above
17
Choose the most appropriate answers :
The following are the objectives of NAFED
(i) To organize, promote and develop marketing, processing and storage of
agricultural products
(ii) Distribution of agriculture machinery
(iii) Inter and Intra state import and export trade
(iv) To undertake marketing research
Answer
D. All of the above ((i), (ii), (iii), (iv))
18
Choose the most appropriate answer :
The powers of NCDC includes
(i) Advance loans, grants and subsidies to the State Government for financing
Co-operatives
(ii) Provide loans and grants directly to the National level Co-operative organizations
(iii) Participate in the share capital of the National level Co-operative organizations
(iv) Help the long term credit institutions.
Answer
A. (i), (ii), (iii) and (iv)
19
Which one is the apex development bank in the country for supporting and promoting
Agriculture and Rural development?
Answer
C. NABARD
20
Choose the most appropriate answer :
The services offered by NCHF are
(i) Guiding State Government in the matter of setting up of housing federation
(ii) Providing a common forum to member federations to examine problems of housing
co-operatives
(iii) Assisting housing co-operatives on general insurance
(iv) Assisting co-operative training colleges in organizing courses as housing
co-operatives
Answer
B. All of the above ((i), (ii), (iii), (iv))
21
Which one is our countries leading fertilizer producer in the co-operative sector?
Answer
A. IFFCO
22
Which one is the National level organization of marketing co-operatives in India?
Answer
C. NAFED
23
Which of the following statements is/are true about cooperative society audit?
(i) Cooperative audit is not only financial but also administrative audit
(ii) Cooperative society audit is a financial audit not administrative audit
(iii) Cooperative society audit is a type of Non Statutory audit
Answer
C. (i) only
24
The maximum audit fee payable by a general category society will not exceed Rs :
Answer
D. 1,00,000
25
Which of the following statements is/are correct?
(i) Farming society which accept deposit shall and grants loans shall pay audit fee
(ii) Vanitha Cooperative Societies need pay only half the rate of audit fee chargeable
(iii) Apex SC/ST societies need pay only half the rate of audit fee payable
Answer
D. (i), (ii) and (iii)
26
Auditor or auditing Firms appointed under Cooperative societies Act shall complete
audit within in a period of —————— months and within a period of ——————
months from the date receipt of audit report, the Director of Co-operative Audit shall
issue audit certificate to the concerned society.
Answer
Question Cancelled
27
When the auditor concludes that the financial statements give true and fair view of state
of affairs of the business, then he will issue?
Answer
B. Unqualified Report
28
Which of the following statements is/are true?
(i) Internal Check is a part of Internal Control
(ii) Internal Control is a part of Internal Check
(iii) Internal Audit is a part of Internal Control
Answer
C. (i) and (iii) only
29
Every cooperative society shall call for a general meeting within a period of
—————— months from the end of accounting year and the maximum period of
holding general meeting may be extended by the Registrar for a maximum period of
—————— months.
Answer
C. 6, 3
30
Ad hoc Committee will be in power for a period of —————— months from the date of
registration.
Answer
C. 3
31
As per The Kerala Cooperative Societies (Third Amendment bill) 2022 the total
individual members in the Federal Society shall not exceed —————— percent of the
total membership in the society :
Answer
C. 25
32
The maximum age limit for seeking membership in Youth Cooperative Societies in
Kerala is :
Answer
D. 45
33
Every cooperative society shall file returns, within —————— months of the closure of
every financial year before the Registrar.
Answer
C. 6
34
Section —————— of Cooperative Societies, Act 1969 deals with Enquiry and Section
—————— of Cooperative Societies Act 1969 deals with —————— inspection.
Answer
Question Cancelled
35
Who is the competent authority for Appeal against an order passed by Liquidator Under
Section 73 of Cooperative Societies Act 1969?
Answer
C. Registrar
36
Section —————— of Cooperative Societies Act 1969 deals with Revision before the
Cooperative Tribunal.
Answer
B. 84
37
If the Sale Officer conducts sale of movable property without notice —————— is the
competent authority for Appeal.
Answer
D. Registrar
38
If a member of a Cooperative society is expelled from membership, who is the competent
authority of appeal?
Answer
Question Cancelled
39
Section —————— of Cooperative Societies Act 1969 deals with attachment before
judgment.
Answer
C. 78
40
As per Kerala Cooperative societies Act, every society shall transfer not less than
—————— % of net profit to Reserve Fund.
Answer
B. 15
41
Section 57 B of Kerala Cooperative Societies Act deals with :
Answer
B. Deposit Guarantee Scheme
42
Section —————— of Kerala Cooperative Societies Act deals with Restriction on Rate
of Dividend.
Answer
D. 48
43
—————— is the basis on which affiliation fee payable by societies to State cooperative
Union is calculated.
Answer
C. Paid up share capital
44
The maximum amount of share capital that can be raised by a Cooperative society by
issuing share is called :
Answer
A. Nominal Capital
45
Arrange the following in chronological order :
(i) The Royal Commission on Agriculture - recommended the setting up of land
mortgage banks 1928
(ii) Famine commission recommendation for establishment of Rural Agricultural Bank
1901.
(iii) The Mehta Committee appointed in 1937 specifically recommended reorganization
of Cooperative Credit Societies as multi-purpose cooperatives.
Answer
A. (ii), (i), (iii)
46
The model cooperative bill of 1956 :
(i) was conceived under the chairmanship of S.T. Raja
(ii) gave emphasis on democratic governance
(iii) restricted the freedom to actively engage in the market
Which among these statements are true?
Answer
B. Only (i) and (ii) are true
47
Statement I -
The Model Co-operative Act of 1991 recognized the need for enhancing
the professional management of co-operatives.
Statement II - The Model Cooperative act of 1991 mandated co-operatives to have
open and voluntary membership policies, ensuring that anyone who
meets basic requirements can join.
Which among the following is true about these statements?
Answer
C. Both statements are true but statement II is not the correct explanation of
statement I
48
The registration of a Co-operative Society shall stand cancelled and the Co-operative
Society shall be deemed to have been dissolved and shall cease to exist as a corporate
body,
Answer
D. Only statement (ii) is right
120/2024 10 A
49
As per the multi-State Cooperative Societies Act 1984, who has the authority to issue the
certificate of registration :
Answer
A. Central Registrar
50
In Kerala Cooperative Societies Amendment Act 2023 which section was amended to
include administrative audit?
Answer
A. Section 2
51
Match the following :
Column I Column II
(i) First Reserve Bank notes issued
Answer
C. Jan 1938
Central Bank of Pakistan
(iv) Introduction of Exchange Controls
52
Match the followings :
List I List II
(i) Saving Deposits
Answer
A. Tenured deposit account
provided by banks or non-bank
financial institutions which
provides investors a higher rate
of interest until
(ii) Current Deposits
53
Statement 1 : Basic Savings Bank Deposit Account
Answer
D. Statement 1 is incorrect, and Statement 2 is correct
54
Assertion
Answer
A. : Credit creation by banks leads to an increase in the money supply in the
economy.
Reason [R] : When banks provide loans, the money is deposited bank into the
banking system, creating additional deposits.
From the above assertion and reasoning. Choose the most appropriate answer :
55
Match the followings :
List I List II
(i) Unit Banking
Answer
C. A single, independent bank
operates on a local scale. Banks
like this are usually small and
don’t have any connected
departments
(iv) Chain Banking
56
Which sections of the RBI Act provides the right to issue bank notes and prescribes the
form of the notes?
Answer
A. Section 22 and 25
57
Statement I : This principle is inflationary in nature.
Statement II : This principle does not command public confidence
Ascertain as to which principle these statements relate to?
Answer
D. Both relates to Banking Principle
58
Match the following functions of RBI :
(i) Performs merchant banking function
Answer
A. Monetary authority
for the central and the State Governments
(ii) Facilitate external trade and payment
59
Statement I : Organised banking in India, first started with the formation of imperial
bank of India.
Statement II : The imperial bank of India was formed by merging the three presidential
banks.
Analyse these statements and choose the correct answer :
Answer
D. Only statement II is correct
60
How many banks were nationalised in the year 1980?
Answer
D. 6
61
Assertion
Answer
A. : The main objectives of lead bank scheme is to identify unbanked and
underbanked regions in a district.
Reason [R] : It is important to ensure financial inclusion.
From the above assertion and reasoning. Choose the most appropriate answer :
62
Match the equity proportion of RRBs :
(i) Central Government
Answer
B. 50%
(iii) Sponsor bank
63
What was the recommendation of Narasimham committee I regarding the ratee of SLR
and CRR?
Answer
C. To reduce both so that to improve the resource base of banks
64
Name the banks which were merged with Bank of Baroda :
Answer
D. Vijaya Bank and Dena Bank
65
Name the Local Area Bank, the license of which was cancelled by RBI in 2020 :
Answer
B. Subhadra Local Area Bank Ltd
66
Which committee recommended the formation of Differentiated banks in India?
Answer
A. Nachiket Mor Committee
67
Given below are two statements :
Statement I : “Demand and time liabilities
Answer
C. Statement I is correct, and Statement II is incorrect
68
In addition to the business of banking, a banking company may engage certain forms of
other business, identify the permitted business of banking company :
(i) Contracting for public and private loans and negotiating and issuing the same.
(ii) Carrying on and transacting every kind of guarantee and indemnity business.
(iii) Deal in the buying or selling or bartering of goods.
(iv) Undertaking and executing trusts.
(v) Undertaking the administration of estates as executor, trustee or otherwise.
Answer
B. (i), (ii), (iv), (v)
69
Assertion
Answer
A. : Every banking company shall, before appointing, re-appointing or
removing any auditor or auditors, obtain the previous approval of the
Reserve Bank
Reason [R]: Under Section 30 of the Banking Regulation Act, 1949, every banking
company is required to have its accounts audited by a person duly
qualified under the law to act as an auditor of companies.
From the above assertion and reasoning choose the most appropriate answer about
auditing of banking company :
70
Match the following sections of Banking regulation Act, 1949 :
List I List II
(i) Section 17
Answer
B. Licensing of banking companies
(iii) Section 44A
71
———— is an inter branch networking and data sharing platform that helps customers
to operate their account from any city in India.
Answer
C. Centralised Banking Solutions
72
In ———— approach, the computerised branches of each city connected with Regional
Processor located at each such city.
Answer
D. Cluster
73
What is the age group for Atal Pension?
Answer
C. Between 18-40 years of age
74
The revised rate of premium which will be debited for Pradhan Mantri Jeevan Jyoti
Bhima Yojana is :
Answer
A. Rs.436
75
If a cheque bears a date that is earlier than the date on which it is presented to the bank
is called :
Answer
B. Ante dated cheque
76
The norms for banks aimed at mitigating the risk and strengthening the capital
structure is :
Answer
A. BASEL Norms
77
———— is known as paperless banking.
Answer
Question Cancelled
78
Another name of electronic money is E-cash money :
Answer
B. True
79
———— refers to delivery of financial services at affordable costs to the disadvantaged
low income segments of the society.
Answer
D. Financial Inclusion
80
———— is known as cancellation of cheque.
Answer
Question Cancelled
81
The result of increase in Cash Reserve Ratio by RBI is :
Answer
C. Decrease the supply of money in the economy
82
Which among the following is not a function of RBI?
Answer
B. Issuance of coins
83
The applicability of Negotiable Instrument Act, 1881 is :
Answer
C. The whole of India except the state of Jammu and Kashmir
84
Bill of exchange is dealt in section ———— of Negotiable Instrument Act.
Answer
C. 5
85
Which is the instrument that is entitled to period of grace?
Answer
D. A bill or note in which no time is mentioned
86
The interim compensation shall be paid within ———— from the date of order or with in
such further period not exceeding 30 days as may be directed by the court.
Answer
D. 60 days
87
What is the sponsor banks share in Regional Rural bank?
Answer
B. 35%
88
Self help groups offer credit to rural house holds :
Answer
C. Both
89
The micro finance institution which is known as Universal Bank is :
Answer
B. Bandhan Financial Services Private Ltd
90
Which institution initiated the micro finance movement in India?
Answer
D. NABARD
91
Which of the following monitors does not use backlighting?
Answer
D. OLED monitors
92
Which of the following memory components is associated with the real time clock in a
computer system?
Answer
D. NVRAM
93
Which of the following is/are considered as system software?
(i) Device drivers
(ii) Operating System
(iii) Compilers
(iv) Assemblers
Answer
D. All of the above (i), (ii), (iii) and (iv)
A 17 120/2024
94
Which of the following statements is/are correct about process management?
(i) Creating and deleting both user and system processes.
(ii) Allocating and deallocating memory space as needed.
(iii) Providing mechanisms for process communication and synchronization.
(iv) Deciding which processes and data to move into and out of memory.
Answer
C. Only (i) and (iii)
95
Which of the following statements is correct about polymorphism in programming?
Answer
A. A function accepts different types/number of arguments and behaves
differently.
96
Which of the following IP addresses is NOT designated for Local Area Networks as per
IETF regulations?
Answer
B. 126.0.0.1
97
Which of the following statements is/are correct about network devices?
(i) An Ethernet switch forwards packets based on application layer protocol.
(ii) A switch can be considered as a multiport bridge.
(iii) A hub always has less packet collision than a switch.
(iv) Routers work in layer 3 of the TCP/IP protocol suite.
Answer
A. Only (ii) and (iv)
98
Which of the following protocols is associated with E-mail?
Answer
A. SMTP
99
Which of the following tags is/are present in HTML?
(i)
(ii)
(iii)