Practice Test

Q1) According to the new system of national income accounting the service sector contribution to GDP in 2018-19 was ________ percentage Show Answer

Q2) IT and ________ is very important component of the service sector Show Answer

Q3) In the insurance sector FDI is allowed up to ________ percent of equity capital Show Answer

Q4) Services in the ________ list are not taxed by the government Show Answer

Q5) ________ campaign is used to promote tourism in India Show Answer

Q6) Recently the government has allowed foreign direct investment in ________ trade Show Answer

Q7) Insurance density is ________ in India Show Answer

Q8) The service tax rate before the introduction of GST was ________ in India Show Answer

Q9) GST was introduced by the government in the year ________ Show Answer

Q10) _______ sector contributes the maximum to GDP at present Show Answer

Q11) Insurance sector is regulated by ________ Show Answer

Q12) ________ is the apex Bank of the banking sector Show Answer

Q13) NRHM stands for ________ Show Answer

Q14) FDI is allowed in the insurance sector up to ________ percent Show Answer

Q15) The organisation ________ plays an active role in promoting India as tourist destination Show Answer

Q16) Cooperative credit has ________ structure Show Answer

Q17) ________ campaign is used to promote tourism in India Show Answer

Q18) E-tourist visa is concerned with ___________ Show Answer

Q19) At present there are ________ public sector banks in India Show Answer

Q20) Balance of payment always ________ Show Answer

Q21) The share of exports from India's manufacturing sector is ________ Show Answer

Q22) Special economic zones are meant for ________ Show Answer

Q23) At present ________ is the largest trading partner of India's import Show Answer

Q24) there is Full convertibility of rupee in the ________ Show Answer

Q25) The major item of import in India is ________ Show Answer

Q26) The new trade policy was announced in the ________ Show Answer

Q27) India's rank in 2018 in the world bank's ease of doing business report 2019 is ________ out of 190 countries Show Answer

Q28) Indian rupee is fully convertible in the ________ account Show Answer

Q29) SEZs are concerned with ________ Show Answer

Q30) Merchandise account is included in ________ account Show Answer

Q31) Balance of payment always ________ Show Answer

Q32) Current account deficit is balanced by ________ in the capital account Show Answer

Q33) Adverse balance of payment occurs when the payments are ________ receipts Show Answer

Q34) India has a ________ in balance of trade Show Answer

Q35) In 2016-17 India's foreign exchange reserves was ________ Show Answer

Q36) Indian rupee is fully convertible in ________ accounts Show Answer

Q37) FDI flow has increased since ________ Show Answer

Q38) _______equity participation is allowed in infrastructure development Show Answer

Q39) The capital which flows into the equity market is known as _______ Show Answer

Q40) MNC stands for ________ Show Answer

Q41) The foreign exchange reserves of India by March 2015 amounted to us dollar _______ billion Show Answer

Q42) FERA was replaced by ________ Show Answer

Q43) SAARC stands for ________ Show Answer

Q44) At present _______ countries are the members of WTO Show Answer

Q45) Singapore is one of the member nations of the _______ Show Answer

Q46) WTO replaced________ in 1995 Show Answer

Q47) TRIPs deals with _______ Show Answer

Q48) TRIMs stands for _______ Show Answer

Q49) GATS implies _______ Show Answer

Q50) SAFTA was signed by _______ countries Show Answer

Q51) Bhutan is a member of _______ Show Answer

Q52) The WTO was born out of resolution passed by _______ Show Answer

Q53) The tenth ministerial conference was held at _______ in Kenya in December 2015 Show Answer

Q54) The eleventh ministerial conference was held at _______ in _______ in December 2017 Show Answer

Q55) SAARC was formed in the year _______ Show Answer

Q56) Singapore is a member of _______ Show Answer

Q57) In the post reform period, the banking sector is open to private and foreign bank Show Answer

Q58) Core banking solution helps to reduce cost and provide efficient services Show Answer

Q59) In recent times India is an attractive destination for medical tourism Show Answer

Q60) There is no limit on equity participation for foreign collaboration in the insurance sector Show Answer

Q61) DOTS is used to control tuberculosis Show Answer

Q62) India is fast becoming a global destination for tourism Show Answer

Q63) Medical tourism is one of the slowest growing segments in India Show Answer

Q64) FDI is not permitted in the insurance sector Show Answer

Q65) Healthcare industry in India does not face any problem Show Answer

Q66) In India post payment bank is owned and operated by the private sector Show Answer

Q67) The IDBI Bank majority shareholder is Life insurance corporation of India Show Answer

Q68) Gold is an important item of India's import Show Answer

Q69) FDI is included in the current account Show Answer

Q70) Unilateral transfers have no quid Pro quo Show Answer

Q71) In the accounting sense, balance of payment always balances Show Answer

Q72) In recent time exports from the service sector is increasing Show Answer

Q73) 100% FDI is allowed in SEZs Show Answer

Q74) Direction of India's foreign trade is changing Show Answer

Q75) India's export to China is more than its import from China Show Answer

Q76) Import of food grains is still a major item in composition of imports Show Answer

Q77) Imports from and exports to developed Nations has been increasing continuously Show Answer

Q78) 50% of India's exports is absorbed by Asian countries Show Answer

Q79) India always has surplus balance of payment Show Answer

Q80) Deficit in current account is always offset by surplus in capital account Show Answer

Q81) FDI is better than portfolio investment Show Answer

Q82) In recent times there is surplus in the capital account Show Answer

Q83) Accommodative floors are necessary to bridge the deficit in balance of payment Show Answer

Q84) India's current imports mainly consists of capital goods Show Answer

Q85) India attracted huge Foreign capital before 1991 Show Answer

Q86) Portfolio investment is better than foreign direct investment Show Answer

Q87) MNC are necessary to compete with the domestic companies to ensure efficiency Show Answer

Q88) Foreign capital flows can be both direct and indirect Show Answer

Q89) Domestic firm mobilizes foreign capital by issuing GDR and ADR Show Answer

Q90) NRI deposits are a part of portfolio investments Show Answer

Q91) FDI may not have any negative cultural impact Show Answer

Q92) WTO aims at promoting free trade at the global level Show Answer

Q93) SAARC was formed to promote trade among countries in southeast Asia Show Answer

Q94) GATS is concerned with agreement on services Show Answer

Q95) India is member of ASEAN Show Answer

Q96) The ministerial conference is the Apex body of WTO Show Answer

Q97) India is is an observer member of SAARC Show Answer

Q98) GATT was transformed into WTO on 1st Jan 1995 Show Answer

Q99) The service sector employs maximum number of people Show Answer

Q100) FDI is allowed in multi brand retailing in India Show Answer

Q101) IRDA is consistent with the information technology sector Show Answer

Q102) FDI equity inflow to service sector is ever increasing Show Answer

Q103) Tourism sector is growing significantly due to the increase in the income of people Show Answer

Q104) Medical tourism is one of the slowest growing service industry in India Show Answer

Q105) Service sector is the driver of growth in India Show Answer

Q106) FDI is not permitted in insurance sector in India Show Answer

Q107) services are ___________ activities that create value and provide benefits for customers at specific times and places as a result of bringing desired change Show Answer

Q108) Services are ___________ Show Answer

Q109) Like labour services are ___________ Show Answer

Q110) The quality of services ________be standardized Show Answer

Q111) Services are ___________ Show Answer

Q112) Services have ___________ geographic areas Show Answer

Q113) Generally the services are ___________ in nature Show Answer

Q114) ___________ is the diagnosis treatment and prevention of diseases Show Answer

Q115) ___________ is travel for recreation Leisure religious family for business purpose Show Answer

Q116) The process of facilitating learning is ___________ Show Answer

Q117) Services are also called as _________ Show Answer

Q118) FTE refers to ___________ Show Answer

Q119) Among the life insurers, ________ is the sole public sector company Show Answer

Q120) In India, the ________ is the major contributor for general insurance Show Answer

Q121) Health insurance is a ________ segment Show Answer

Q122) _________ of insurance policies is attracting customers Show Answer

Q123) RSBY means ______ Show Answer

Q124) Volume of trade means ___________ of goods and services traded Show Answer

Q125) It is necessary to maintain ______ in the BOP Show Answer

Q126) BOP capital account reflects the strength and weakness of ______ position Show Answer

Q127) By 1990-91 India BOP became highly ________ Show Answer

Q128) Technology transfers through FDI generate ______ atmosphere in the host country Show Answer

Q129) South Asian association for regional cooperation (SAARC) comprises of _________ members Show Answer

Q130) SAARC is one of the trade organisation of the world Show Answer

Q131) he long form of SADF is __________ Show Answer

Q132) ASEAN has _________ member Show Answer

Q133) AEC is ________ Show Answer

Q134) WTO was established on ________ Show Answer

Q135) GATS refers to ________ Show Answer

Q136) As on 30th November 2018 WTO has _____ members Show Answer

Q137) A Service is an act or performance offered by one party to another. Show Answer

Q138) We can touch services as they are physical objects Show Answer

Q139) Virtually every product today has a service component to it Show Answer

Q140) Services has high degree of durability Show Answer

Q141) Utilized and Unutilized services are an economic waste Show Answer

Q142) Services and their providers are associated closely and thus separable Show Answer

Q143) Heterogeneity makes it difficult to establish standards for or output of service form Show Answer

Q144) The users can own the service Show Answer

Q145) Service sector requires another tool for measurement Show Answer

Q146) Financial services fall in the scope of service industry Show Answer

Q147) Tourism is commonly associated with local travel only Show Answer

Q148) Healthcare is the diagnosis treatment and prevention of disease in human being Show Answer

Q149) Education is a process of facilitating learning Show Answer

Q150) Banks in recent years are shifting from traditional product focus to a more client centric strategy Show Answer

Q151) The insurance industry of India consists of only insurance companies Show Answer

Q152) India is the world's 12 largest Life insurance market and the fourth largest in Asia Pacific region Show Answer

Q153) Brokers and agents are expected to play an increased role in insurance company Show Answer

Q154) Micro insurance on the line of microfinance is thought to be a magic word Show Answer

Q155) Medical tourism is not part of healthcare Show Answer

Q156) Healthcare comprises, medical devices, clinical trials, outsourcing telemedicine etc. Show Answer

Q157) Indian healthcare is experiencing a new wave of opportunity Show Answer

Q158) There is no significant improvement in the growth of tourist arrival to India Show Answer

Q159) Healthcare comprises, medical devices, clinical trials, outsourcing telemedicine etc. Show Answer

Q160) Indian healthcare is experiencing a new wave of opportunity Show Answer

Q161) There is no significant improvement in the growth of tourist arrival to India Show Answer

Q162) Indian tourism has huge untapped potential for generating employment Show Answer

Q163) The external sector of the economy refers to the only National transactions Show Answer

Q164) The external accounts form part of an integrated system of statistics of the economy Show Answer

Q165) Direction of trade means volume of goods and services traded Show Answer

Q166) Balance of payment gives a comprehensive picture of all the international economic transactions of a country during a year Show Answer

Q167) The BOP on capital account indicates surplus/deficits in the BOP for the current year Show Answer

Q168) The BOP situation became worse in 1990 91 due to the gulf crisis Show Answer

Q169) External commercial borrowings and NRI deposits represent a huge assets Show Answer

Q170) The severe BOP crisis faced by India in 1991 necessitated macroeconomic stabilisation measures and structural reforms Show Answer

Q171) The increase in NRI deposits was due to various incentives offered to the NRI Indians Show Answer

Q172) The foreign direct investment it is one of the most important source of foreign investment flows in countries like India Show Answer

Q173) FDI leads to incompetent business environment Show Answer

Q174) Transnational companies are the ones which locate their factories throughout the world Show Answer

Q175) SAARC the richest Trade organisation Show Answer

Q176) India is not the founder member of WTO Show Answer

Q177) The main objective of WTO is to remove restrictions in international trade and facilitate trade between countries Show Answer

Q178) WTO aims to expand and utilities world resources in the best possible manner Show Answer