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INSTA Tests
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QUESTION BOOKLET
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INSTA 75 Days REVISION PLAN for Prelims 2020 - InstaTests
1. Russia
2. Turkey (d) Asian Development Bank
10. Consider the following statements 12. Consider the following statements
regarding structure of NITI Aayog regarding Five year plans
1. PM is its Chairman 1. Second Plan: The plan was
2. Union Finance minister is its Vice- developed by Professor
Chairperson Mahalanobis.
3. Chief Executive Officer, appointed 2. Third Plan: The Plan was based on
by the PM the Gadgil strategy
4. Ex-Officio Members: maximum of 3. Fourth Plan: For the first times,
four members of the Union the aim of balanced, regional
Council of Ministers to be development was considered.
nominated by the PM.
Which of the statements given above
Which of the statements given above is/are correct?
is/are correct?
(a) 1 only
(a) 1, 2 and 3 only
(b) 2 and 3 only
(b) 2, 3 and 4 only
(c) 1 and 3 only
(c) 1, 3 and 4 only
(d) 1, 2 and 3
(d) 1, 2 and 4 only
14. Chaukhandi Stupa, recently seen in Which of the statements given above
news, is located in: is/are correct?
(a) Uttar Pradesh (a) 1 only
(b) Bihar (b) 2 and 3 only
(c) Madhya Pradesh (c) 1 and 2 only
(d) Jharkhand (d) 3 only
15. Consider the following statements 17. Consider the following statements
regarding the Gandhian plan regarding National Anti-Profiteering
1. Jayaprakash Narayan formulated Authority:
the Gandhian Plan. 1. It is a non-statutory body
2. The plan articulated a constituted by an executive
‘decentralized economic resolution.
structure’ for India with ‘self- 2. It aims to check the unfair
contained villages’. profiteering activities by the
registered suppliers under GST
Which of the statements given above
law.
is/are correct?
3. Finance Minister of India is the ex-
(a) 1 only officio chairman of the authority.
24. Consider the following statements 26. Consider the following statements
regarding Transfer payments regarding Asiatic golden cat
1. Transfer Payments are payments 1. It is found across eastern Nepal
which are made without any through north-eastern India to
counterpart of services received Indonesia.
by the payer. 2. It is listed as critically endangered
2. The examples for Transfer species by IUCN.
Payments are gifts, scholarships
Which of the statements given above
and pensions.
is/are correct?
Which of the statements given above
(a) 1 only
is/are correct?
(b) 2 only
(a) 1 only
(c) Both 1 and 2
(b) 2 only
(d) Neither 1 nor 2
(c) Both 1 and 2
(d) Neither 1 nor 2
27. Which of the following taxes have
been referred as Paper Taxes?
25. Consider the following statements 1. Income Tax
regarding Varunastra torpedoes 2. Corporate Tax
1. It is the only torpedo in the world 3. Wealth tax
to have a GPS-based locating aid. 4. Gift tax
2. This has been jointly developed by
Select the correct answer using the
the Naval Science and Technology
code given below:
Laboratory (NTSL),
Visakhapatnam and the Bharat (a) 1 and 2 only
Dynamics Limited -BDL
(b) 2 and 3 only
(Hyderabad).
(c) 3 and 4 only
Which of the statements given above
is/are correct? (d) 1 and 4 only
(a) 1 only
(b) 2 only 28. Consider the following statements
regarding difference between CPI and
(c) Both 1 and 2
GDP deflator
(d) Neither 1 nor 2 1. CPI does not include prices of
imported goods, while they are
included in GDP deflator.
DAY – 2(InstaTest-2) 2. GDP deflator takes into account
all goods and services produced in
a country, while CPI takes into
account a basket of goods.
3. The weights are constant in CPI, (c) 1 and 3 only (d) 1, 2 and 3
but they differ according to
production level of each good in
GDP deflator. 31. The major traits of recession are
1. There is a general fall in demand
Which of the statement above is/are
2. Inflation remains lower
correct?
3. Employment rate falls
(a) 1 and 2 only (b) 2 and 3 only
Which of the statement above is/are
(c) 1 and 3 only (d) 1, 2 and 3 correct?
(a) 1 and 2 only (b) 2 and 3 only
29. Consider the following statements (c) 1 and 3 only (d) 1, 2 and 3
regarding Provision coverage ratio
(PCR)
1. It refers to the prescribed 32. The Kheer Bhawani mela has been
percentage of funds to be set annually celebrated by
aside by the banks for covering
(a) Kerala
the prospective losses due to bad
loans (b) Assam
2. Higher the PCR, lower is the
(c) Kashmir
unexposed part of the bad debts
(d) Andaman and Nicobar
Which of the statements given above
is/are correct?
(a) 1 only (b) 2 only
(c) Both 1 and 2 (d) Neither 1 nor 2 33. Which of the following organization
releases ‘Global Economic Prospects’
report?
30. Consider the following statements
regarding the effects of inflation (a) World Bank
1. Inflation redistributes wealth
from creditors to debtors.
2. Generally, in case of inflation, the (b) International Monetary Fund
currency of the economy (IMF)
depreciates.
3. During inflation, holding money
remains an intelligent economic (c) World Economic Forum (WEF)
decision.
Which of the statement above is/are
(d) The United Nations Conference
correct?
on Trade and Development
(a) 1 and 2 only (b) 2 and 3 only (UNCTAD)
34. Consider the following statements 2. In the operation, the central bank
regarding urban co-operative banks uses the proceeds from sale of
(UCBs) long-term government debt
1. They are registered and governed papers to buy short-term
under the co-operative society securities
acts of the respective states and
Which of the statement above is/are
Banking Regulation Act, 1949.
correct?
2. The managerial aspects of these
banks are controlled by RBI. (a) 1 only
Which of the statement above is/are (b) 2 only
correct?
(c) Both 1 and 2
(a) 1 only
(d) Neither 1 nor 2
(b) 2 only
(c) Both 1 and 2
37. Consider the following statements
(d) Neither 1 nor 2 regarding ‘Jal Hi Jeevan Hai’ scheme:
1. It has been launched by the
Madhya Pradesh government.
35. Which of the following are covered 2. Government provides Rs 5000/-
under Wilful Default incentives per acre for the farmer
1. Disposal / removal of securities 3. Free of cost hybrid seeds would
without bank’s knowledge be provided under the scheme
2. Misrepresentation / falsification
Which of the statements given above
of records
is/are correct?
3. Deliberate non-payment of the
dues despite adequate cash flow (a) 2 and 3 only (b) 1, 2 and 3
and good net worth.
(c) 3 only (d) 1 and 3 only
Which of the statement above is/are
correct?
38. Stagflation often seen in news occurs
(a) 1 and 3 only
when the economy is facing
(b) 2 and 3 only 1. High inflation
2. High Fiscal Deficit
(c) 1 and 3 only
3. Currency appreciation
(d) 1, 2 and 3 4. High unemployment rate
Which of the statement above is/are
correct?
36. Consider the following statements
regarding Operation Twist (a) 1 and 2 only (b) 2 and 3 only
1. It was launched by RBI to bring
(c) 3 and 4 only (d) 1 and 4 only
down interest rates.
39. Consider the following statements Which of the statement above is/are
1. White Label ATMs (WLAs) are set correct?
up, owned and operated by
(a) 1 only (b) 2 only
banks.
2. Card tokenization refers to (c) Both 1 and 2 (d) Neither 1 nor 2
replacement of actual card details
with an alternate code called the
token, which shall be unique for a 42. Consider the following statements
combination of card, token regarding Committee on Government
requestor and device. Assurances (Rajya Sabha)
1. The Committee shall consist of ten
Which of the statement above is/are
members who shall be elected
correct?
amongst the members of Rajya
(a) 1 only (b) 2 only Sabha
2. If the Chairman of the Committee
(c) Both 1 and 2 (d) Neither 1 nor 2
is absent from any meeting, the
Committee shall choose another
member to act as Chairman of the
40. Consider the following statements
Committee for that meeting.
regarding taxation in India
1. The gross tax receipt has Which of the statements given above
remained constant at around is/are correct?
10.5% of GDP for the last decade.
(a) 1 only (b) 2 only
2. The contribution of direct taxes is
more than 75% of the gross tax (c) Both 1 and 2 (d) Neither 1 nor 2
receipt in India.
Which of the statement above is/are
43. Consider the following statements
correct?
regarding Advisory Board for Banking
(a) 1 only (b) 2 only Frauds (ABBF)
1. The RBI has constituted an
(c) Both 1 and 2 (d) Neither 1 nor 2
Advisory Board for Banking Frauds
to examine bank fraud of over ₹50
crore and recommend action.
41. Consider the following statements
2. The tenure of the Chairman and
regarding Annual study of state-level
members would be for a period of
budgets
three years.
1. It was released by Department of
Economic Affairs. Which of the statement above is/are
2. According to the report, except correct?
during 2016-17, state
(a) 1 only (b) 2 only
governments have regularly met
their fiscal deficit target of 3% of (c) Both 1 and 2 (d) Neither 1 nor 2
GDP.
44. Consider the following statements Which of the statements given above
regarding Core Investment Companies is/are correct?
(CICs)
(a) 1 and 3 only (b) 2 only
1. Systemically Important Core (c) 1 and 2 only (d) None
Investment Company is a Non-
Banking Financial Company with
asset size of Rs 100 crore and 47. The Fiscal Performance Index (FPI) has
above. been released by
2. Existing CICs having asset size of
below Rs 100 crore are exempted (a) Federation of Indian Chambers of
from registration under RBI act Commerce and Industry (FICCI)
1934.
(b) National Bank for Agriculture and
Which of the statement above is/are Rural Development (NABARD)
correct?
(c) Small Industries Development
(a) 1 only (b) 2 only Bank of India (SIDBI)
(c) Both 1 and 2 (d) Neither 1 nor 2 (d) Confederation of Indian Industry
(CII)
46. Consider the following statements 49. Consider the following statements
regarding United Nations Educational, regarding Kimberly process
Scientific and Cultural Organization 1. It is an international certification
(UNESCO) scheme that regulates trade in
rough diamonds.
1. UNESCO is a specialized agency of 2. Presently, India chairs the
the United Nations (UN) based in Kimberly Process..
Paris.
Which of the statements given above
2. It is also a member of the United
is/are correct?
Nations Development Group
3. Recently United States and Russia (a) 1 only (b) 2 only
officially quit the UNESCO
(c) Both 1 and 2 (d) Neither 1 nor 2
50. Consider the following statements 52. Consider the following statements
regarding Board for Financial regarding Nidhi Company
Supervision (BFS)
1. The primary objective of BFS is to 1. Nidhi is a company formed with
undertake consolidated the exclusive object of cultivating
supervision of the financial sector. the habit of thrift, savings and
2. The Department of Financial functioning for the mutual benefit
Services performs the supervisory of members.
function under the guidance of 2. Nidhis are governed by the overall
the Board (BFS). ceiling on the rate of interest
3. The board is chaired by Finance prescribed by RBI.
Secretary. 3. Nidhis are included in the
definition of Non- Banking
Which of the statement above is/are
Financial companies, which
correct?
operate mainly in the unorganized
(a) 1 only (b) 2 and 3 only money market.
4. Nidhis are companies registered
(c) 1 and 3 only (d) 1, 2 and 3
under Companies Act, 1956 and
are regulated by Ministry of
Corporate Affairs (MCA).
DAY – 3(InstaTest-3)
54. Consider the following statements 56. Consider the following statements
regarding Treasury bills or T-bills in regarding Financial Benchmark India
India Private Ltd (FBIL)
1. Treasury bills are short term debt 1. It was jointly promoted by RBI and
instruments issued by the RBI. Indian Banks Association (IBA).
2. Treasury bills are zero coupon 2. The main object of the company is
securities. to act as the administrators of the
Indian interest rate and foreign
Which of the statements given above
exchange benchmarks.
is/are correct?
Which of the statements given above
(a) 1 only
is/are correct?
(b) 2 only
(a) 1 only
(c) Both 1 and 2
(b) 2 only
(d) Neither 1 nor 2
(c) Both 1 and 2
(d) Neither 1 nor 2
58. Consider the following statements: Which of the statements given above
1. Plastic Pollution Coalition is an is/are correct?
intergovernmental organization.
(a) 1 only
2. Microbeads are commonly found
in cosmetic products. (b) 2 only
Which of the statements given above (c) Both 1 and 2
is/are correct?
(d) Neither 1 nor 2
(a) 1 only (b) 2 only
(c) Both 1 and 2 (d) Neither 1 nor 2
61. Consider the following statements
regarding INS Khanderi
1. It is the second of the Indian
59. Consider the following statements
Navy’s six Kalvari-class
regarding HSN Code
submarines being built in India.
1. It is a multipurpose international
2. It is nuclear powered submarine.
product nomenclature developed
3. It was commissioned into Indian
by the World Customs
Navy in 2014.
Organization (WCO).
2. It was developed with the vision Which of the statements given above
of facilitating the classification of is/are correct?
goods all over the World in a
(a) 1 and 3 only (b) 2 only
systematic manner.
3. India has decided to allow imports (c) 2 and 3 only (d) 1 only
without HSN code.
Which of the statements given above
62. Consider the following statements
is/are correct?
regarding classification of money
(a) 1 and 2 only (b) 2 and 3 only market
(c) 1 and 3 only (d) 1, 2 and 3
1. Overnight market – The tenor of
transactions is one working day.
2. Term money market– The tenor of
60. Consider the following statements
the transactions is from 2 days to
regarding Prompt Corrective Action
14 days.
(PCA) of Reserve Bank of India
3. Notice money market– The tenor
1. It aims to monitor the operation
of the transactions is from 15 days
of weaker banks more closely to
to one year.
encourage them to conserve
capital and avoid risks. Which of the statements given above
2. It imposes certain restrictions on is/are correct?
expansion of branches and
(a) 1 only (b) 2 and 3 only
dividend distribution by banks
that are financially weak. (c) 1 and 3 only (d) 1, 2 and 3
63. Consider the following statements 65. Under the balance of payments,
regarding National Overseas Current account consists of
Scholarship Scheme
1. It is a Central Sector scheme for 1. Trade in goods
Scheduled Caste (SC) students
2. The Scheme provides financial 2. Net investment income
assistance to the finally selected
candidates for pursuing Master 3. Grants
level courses and Ph.D abroad in
the accredited 4. Remittances
Institutions/University by an
authorized body of that country
3. It is jointly launched by Ministry of Which of the statements given above
External Affairs and Ministry of is/are correct?
Human Resource Development.
(a) 1, 2 and 3 only
Which of the statements given above
(b) 2, 3 and 4 only
is/are correct?
(c) 1, 3 and 4 only
(a) 1 and 3 only
(d) 1, 2, 3 and 4
(b) 2 and 3 only
(c) 1 and 2 only
(d) 1, 2 and 3
66. Consider the following statements
1. In foreign exchange market,
64. Consider the following statements devaluation is a situation when
regarding Participatory notes domestic currency loses its value
1. They are financial instruments in front of a foreign currency if it is
required by investors or hedge market-driven, without any
funds to invest in Indian securities intervention by the government.
without having to register SEBI. 2. In domestic economy,
2. The investor in PN owns the depreciation means an asset
underlying Indian security but losing its value due to either its
does not enjoy any voting rights in use, wear and tear or due to other
relation to security/shares economic reasons.
Which of the statements given above Which of the statement above is/are
is/are correct? correct?
(a) 1 only (a) 1 only
(b) 2 only (b) 2 only
(c) Both 1 and 2 (c) Both 1 and 2
(d) Neither 1 nor 2 (d) Neither 1 nor 2
67. Consider the following statements 69. Consider the following statements
regarding imports and exports in India regarding The North Atlantic Treaty
Organization (NATO)
1. Crude petroleum and gold forms 1. A NATO decision is the expression
the largest components of of the collective will of all 29
imports in India. member countries since all
2. Iron and steel, Gold and other decisions are taken by consensus.
precious Metal Jewellery and 2. Every day, member countries
Drugs Formations combined consult and take decisions on
together forms the largest security issues at all levels and in a
component of exports. variety of fields.
3. All the members of European
Which of the statements given above
Union are the members of it.
is/are correct?
Which of the statements given above
(a) 1 only
is/are correct?
(b) 2 only
(a) 2 only
(c) Both 1 and 2
(b) 1 and 2 only
(d) Neither 1 nor 2
(c) 1 and 3 only
(d) None
68. Consider the following statements
regarding Trade Infrastructure for
Export Scheme (TIES) 70. Consider the following statements
regarding Turtle Survival Alliance (TSA)
1. Its objective is to assist Central 1. It is an action-oriented global
and State Government Agencies partnership committed in
for creation of appropriate achieving zero turtle extinctions in
infrastructure for growth of the 21st century.
exports from the States. 2. It is an initiative of United Nations.
2. The Scheme provides financial 3. TSA arose in response to the
assistance in the form of grant-in- rampant and unsustainable
aid to Central/State Government harvest of Asian turtle
owned agencies. populations, a situation known as
the Asian Turtle Crisis.
Which of the statements given above
is/are correct? Which of the statements given above
is/are correct?
(a) 1 only
(a) 3 only
(b) 2 only
(b) 2 only
(c) Both 1 and 2
(c) 1 and 3 only
(d) Neither 1 nor 2
(d) 1, 2 and 3
71. Consider the following statements 73. Which of the following pairs of tribes
regarding SWIFT (Society for with their respective countries is/are
Worldwide Interbank Financial correctly matched?
Telecommunications)
1. SWIFT is a cooperative society 1. Thailand : Bidoon
under Belgian law owned by its 2. Syria : Kurds
member financial institutions 3. Kuwait : Bedouin tribes
with offices around the world 4. Iraq : Sea Gypsies
2. SWIFT facilitate funds transfer
Select the correct answer using the
and sends payment orders.
codes given below
3. SWIFT India is a joint venture of
top Indian public and private (a) 1, 2 and 3 only (b) 2, 3 and 4 only
sector banks and SWIFT
(c) 2 and 3 only (d) 1, 2, 3 and 4
Which of the statements given above
is/are correct?
74. Consider the following statements
(a) 1 and 2 only
regarding hard currency
(b) 2 and 3 only 1. It is the international currency in
which the highest faith is shown
(c) 1 and 3 only
2. It has a high level of liquidity
(d) 1, 2 and 3
Which of the statements given above
is/are correct?
72. Consider the following statements (a) 1 only (b) 2 only
regarding Currency Swap
(c) Both 1 and 2 (d) Neither 1 nor 2
Arrangement
1. It is an arrangement, between
two friendly trading countries to
75. Consider the following statements
basically involve in trading in their
regarding Kelp Forests
own local currencies.
1. Kelp Forests are underwater
2. The payment for import and
ecosystems formed in coastal,
export are made at the pre-
shallow clear water by the dense
determined rates of exchange,
growth of several different
without bringing in third country
species.
currency like the US Dollar.
2. They occur worldwide throughout
Which of the statements given above tropical and subtropical coastal
is/are correct? oceans.
(a) 1 only Which of the statements given above
is/are correct?
(b) 2 only
(a) 1 only (b) 2 only
(c) Both 1 and 2
(c) Both 1 and 2 (d) Neither 1 nor 2
(d) Neither 1 nor 2
80. Consider the following statements 82. Consider the following statements
regarding global trade of agricultural regarding Fisheries Sector
products 1. The fish production in India has
1. India has remained a net exporter registered an average annual
of agri-products in 2018-19. growth rate of more than 7 per
2. India’s total agricultural export cent in the recent years.
basket accounts for a little over 2. Out of the total fish production,
21.5 per cent of the world Marine fisheries contributes more
agricultural trade. than two-third of the share.
Which of the statements given above Which of the statements given above
is/are correct? is/are correct?
(a) 1 only (a) 1 only
(b) 2 only (b) 2 only
(c) Both 1 and 2 (c) Both 1 and 2
(d) Neither 1 nor 2 (d) Neither 1 nor 2
84. Tenofovir and Lamivudine drugs, 86. Consider the following statements
sometime seen in the news, is regarding Regional Cooperation
effective against which of the Agreement on Combating Piracy and
following disease/ailments? Armed Robbery against Ships in Asia
(ReCAAP).
(a) Multidrug Resistant Tuberculosis 1. The ReCAAP is the first regional
Government-to-Government
agreement to deal with piracy and
(b) HIV/AIDS armed robbery at sea in Asia.
2. Presently 35 countries are
members of ReCAAP
(c) Nipah Virus
Which of the statements given above
is/are correct?
(d) None of the above
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
85. Consider the following statements
regarding New Space India Limited
(NSIL): 87. Consider the following statements
regarding National Infrastructure
1. It is a wholly owned Government Pipeline (NIP)
of India undertaking under the 1. The NIP has projected total
administrative control of infrastructure investment of 100
Department of Space (DOS). million crore during the period FY
2. It was setup to commercially 2020 to 2025 in India.
exploit the research and 2. As per the NIP, Central
development work of Indian Government (50 per cent) and
Space Research Organization State Government (50 per cent)
(ISRO) Centers and constituent are expected to have equal share
units of DOS. in funding of the projects.
Which of the statements given above Which of the statements given above
is/are correct? is/are correct?
88. Consider the following statements 91. Consider the following statements
regarding services sector regarding the recommendations of
1. The sector accounts for around 55 15th Finance Commission
per cent of total size of the 1. The Commission has increased
economy and GVA growth. the vertical devolution from 41%
2. The sector accounts about 48 per to 42%.
cent of total exports. 2. The Commission has considered
3. The sector accounts two-thirds of the 2011 population along with
total FDI inflows into India. forest cover, tax effort, area of the
state, and demographic
Which of the statements given above
performance for its
is/are correct?
recommendations.
(a) 1 and 2 only (b) 2 and 3 only
Which of the statements given above
(c) 1 and 3 only (d) 1, 2 and 3 is/are correct?
(a) 1 only
98. Consider the following statements 100. Consider the following statements
regarding Financial Action Task Force 1. India is the largest producer of silk
(FATF) in the world
1. It is an inter-governmental body 2. India holds around 25 percent
and an initiative of the OECD. share in the cotton yarn industry
2. The FATF Secretariat is housed at across the globe
the OECD headquarters in Paris. 3. India is the third largest
3. India is a member to FATF. manufacturer of textiles across
the globe.
Which of the statements given above
is/are correct? Which of the statements given above
is/are correct?
(a) 1 and 2 only
(a) 1 and 3 only
(b) 2 and 3 only
(b) 2 and 3 only
(c) 1 and 3 only
(c) 1 and 2 only
(d) 1, 2 and 3
(d) 1, 2 and 3