NTA UGC NET/JRF Exam, December 2022 (Commerce) Shift-II

Total Questions: 100

71. Match List I with List II

List I Leadership Style	List II Description
A. Impoverished management	I. Work accomplished is from a committee of people with interdependence through a common stake in organizational purpose and with trust and respect
B. Team managers	II. Exertion of minimum effort is required to get work done and to sustain organizational morale
C. country club management	III. Efficiency results from arranging work is such a way that human elements have little effect
D. Autocratic task managers	IV. Thoughtful attention to the needs of people leads to a friendly and comfortable organizational atmosphere and work environment

Choose the correct answer from the options given below :

(a) A-I, B-II, C-IV, D-III
(b) A-II, B-I, C-III, D-IV
(c) A-II, B-I, C-IV, D-III
(d) A-IV, B-I, C-III, D-II

Correct Answer: (c) A-II, B-I, C-IV, D-III

Solution:

List - I Leadership Style		List - II Description
A. Impoverished management	(II)	Exertion of minimum effort is required to get work done and to sustain organizational morale
B. Team managers	(I)	Work accomplished is from a committee of people with interdependence through a common stake in organizational purpose and with trust and respect
C. country club management	(IV)	Thoughtful attention to the needs of people leads to a friendly and comfortable organizational atmosphere and work environment
D. Autocratic task managers	(III)	Efficiency results from arranging work is such a way that human elements have little effect

72. Match List I with List II

List I Interest rates	List II Description
A. Policy Rate	I. RBI lending rate to commercial banks without security
B. Repo Rate	II. RBI lending rate when commercial banks borrow money by purchasing securities issued by RBI
C. MCLR	III. Internal benchmark rate for financial institutions and banks
D. Bank Rate	IV. Rate established by RBI to influence the main monetary variables in the economy

Choose the correct answer from the options given below :

(a) A-I, B-IV, C-III, D-II
(b) A-IV, B-I, C-III, D-II
(c) A-IV, B-II, C-III, D-I
(d) A-II, B-IV, C-I, D-III

Correct Answer: (c) A-IV, B-II, C-III, D-I

Solution:

List - I	List - II
Interest rates	Description
A. Policy Rate	(IV) Rate established by RBI to influence the main monetary variables in the economy
B. Repo Rate	(II) RBI lending rate when commercial banks borrow money by purchasing securities issued by RBI
C. MCLR	(III) Internal benchmark rate for financial institutions and banks
D. Bank Rate	(I) RBI lending rate to commercial banks without security

73. Match List I with List II

List I Market Expansion Strategies	List II Description
A. Market Penetration	I. New products, New markets
B. Market Development	II. Existing markets, Existing products
C. Product Development	III. Existing products, New markets
D. Diversification	IV. Existing markets, New products

Choose the correct answer from the options given below :

(a) A-I, B-II, C-III, D-IV
(b) A-I, B-III, C-II, D-IV
(c) A-II, B-IV, C-I, D-III
(d) A-II, B-III, C-IV, D-I

Correct Answer: (d) A-II, B-III, C-IV, D-I

Solution:

List - I	List - II
Market Expansion Strategies	Description
A. Market Penetration	(II) Existing markets, Existing products
B. Market Development	(III) Existing products, New markets
C. Product Development	(IV) Existing markets, New products
D. Diversification	(I) New products, New markets

74. Match List I with List II

List I	List II
Insurance contracts	Presence (time) of insurable interest
A. Marine insurance	I. Both at the time of contract as well at the loss of subject matter
B. Life insurance	II. Throughout the contract of insurance
C. Fire insurance	III. At the time of loss of the subject matter
D. General insurance	IV. At the time of insurance contract effected

Choose the correct answer from the options given below :

(a) A-IV, B-II, C-III, D-I
(b) A-III, B-IV, C-I, D-II
(c) A-I, B-IV, C-II, D-III
(d) A-III, B-I, C-IV, D-II

Correct Answer: (b) A-III, B-IV, C-I, D-II

Solution:

List - I	List - II
Insurance contracts	Presence (time) of insurable interest
A. Marine insurance	(III) At the time of loss of the subject matter
B. Life insurance	(IV) At the time of insurance contract effected
C. Fire insurance	(I) Both at the time of contract as well at the loss of subject matter
D. General insurance	(II) Throughout the contract of insurance

75. Match List I with List II

List I Tax deductions	List II Relevant Sections
A. Deduction in respect of rent paid	I. 80 GGC
B. Deduction in respect of contribution given by company to political parties	II. 80 GG
C. Deduction in respect of contribution given by any person to political parties	III. 80 GGA
D. Deduction in respect of certain donations for scientific research	IV. 80 GGB

Choose the correct answer from the options given below :

Correct Answer: (*)

Solution:

NTA Drop

76. In relation to the export from India, arrange the following steps of port procedure and customs clearance sequentially:

A. C & F agent present mate's receipt to shipping company
B. Shipping company issues bill of lading. C & F agent dispatches bill of lading and other documents to the importer
C. C & F agent receives documents from the exporter, takes delivery of cargo and stores cargo in warehouse till shipment
D. Master of vessel issues mate's receipt to shed superintendent of port
E. Cargo brought to the port shed for loading
Choose the correct answer from the options given below:

(a) C, E, D, B, A
(b) C, E, D, A, B
(c) E, C, D, A, B
(d) C, D, E, A, B

Correct Answer: (b) C, E, D, A, B

Solution:

Steps of port procedure and customs clearance in relation to the export from India are :-
Step I C & F agent receives documents from the exporter, takes delivery of cargo and stores cargo in warehouse till shipment
Step II Cargo brought to the port shed for loading
Step III Master of vessel issues mate's receipt to shed superintendent of port Step IV C & F agent present mate's receipt to shipping company
Step V Shipping company issues bill of lading. C & F agent dispatches bill of lading and other documents to the importer

77. The following are contextual auditing with wider intensities

A. Special Audit
B. Internal Audit
C. Internal Check
D. Annual Audit
E. Interim Audit
Choose the correct sequence from the options given below in increasing order of underlying intensity:

(a) C, B, E, D, A
(b) B, C, D, A, E
(c) A, B, C, D, E
(d) B, C, A, E, D

Correct Answer: (a) C, B, E, D, A

Solution:

Internal Check
(Limited scope, focusing on a specific process)
↓
Internal Audit
(Covers the entire organisation or a significant portion of it)
↓
Interim Audit
(Interim audit is a part of external audit. It is done before the year end to reduce work pressure at finalisation stage)
↓
Annual Audit
(It is also known as final audit. It is done after the end of the accounting period)
↓
Special Audit
(This Audit is done when it is suspected that laws or regulations have been violated in the financial statement of the company. This is may be initiated by a Government agency)

78. Sequence the following steps in the process of estimating demand equation using regression analysis.

A. Obtaining data on each variable or its proxy
B. Estimating slope coefficients
C. Model specifications
D. Deciding on the functional form of the demand equation
E. Evaluation of regression results
Choose the correct answer from the options given below:

(a) C, A, D, B, E
(b) D, C, B, A, E
(c) A, B, C, D, E
(d) D, A, C, B, E

Correct Answer: (a) C, A, D, B, E

Solution:

Following are the steps in the process of estimating demand equation using regression analysis:-
Step I Model specifications
Step II Obtaining data on each variable or its proxy
Step III Deciding on the functional form of the demand equation
Step IV Estimating slope coefficients
Step V Evaluation of regression results

79. Arrange the following in the logical sequence of the international arbitrage operation.

A. Identify an opportunity
B. Purchase the asset
C. Review the transaction cost
D. Pocket the profit
E. Sell the asset
Choose the correct answer from the options given below:

(a) A, C, B, E, D
(b) C, A, D, B, E
(c) B, A, D, E, C
(d) B, D, A, C, E

Correct Answer: (a) A, C, B, E, D

Solution:

The logical sequence of the international arbitrage operation are :-
Identify an opportunity
Review the transaction cost
Purchase the asset
Sell the asset
Pocket the profit

80. Arrange the following steps in sequence for testing a statistical hypothesis

A. Test statistics
B. Framing the hypothesis
C. Collecting the sample data
D. Level of significance
E. Obtaining results and taking decisions
Choose the correct answer from the options given below:

(a) B, D, C, A, E
(b) C, B, A, D, E
(c) B, C, A, D, E
(d) A, C, B, E, D

Correct Answer: (a) B, D, C, A, E

Solution:

Steps in the sequence for testing a statistical hypothesis are :-
Step I Framing the hypothesis
Step II Level of significance
Step III Collecting the sample data
Step IV Test statistics
Step V Obtaining results and taking decisions