1. Consider the following statements with respect to the Collective Investment Scheme (CIS):
- Any scheme or arrangement being a contract of insurance to which the Insurance Act applies is a collective investment scheme.
- In India, the definition of CIS excludes mutual funds.
Which of the statement(s) given above is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Ans: b
Exp:
Statement 1 is Incorrect: Any scheme or arrangement being a contract of insurance to which the Insurance Act applies is not called a collective investment scheme.
Statement 2 is correct: In India, the definition of CIS excludes mutual funds or unit trust schemes etc and is given a strict definition in Section 11AA of the SEBI Act, 1992.
2. Which of the following reports were published by the International Monetary Fund (IMF)?
- World Economic Outlook.
- Global Financial Stability Report.
- Global Social Mobility Report.
- Global Risk Report.
Select the correct answer using the code given below:
- 1, 2 and 4 only
- 3 and 4 only
- 1 and 2 only
- 1, 2, 3 and 4
Ans: c
Exp: Global Social Mobility Report and Global Risk Report are Published by World Economic Forum.
3. Which is the best definition of the term “Merchant Discount Rate”?
a) A special rate under digital India given by the Government to merchants when payments are made through Point of Sale machines and debit cards.
b) The charge given to a merchant by a bank for accepting payments from his customers through the bank’s debit cards.
c) The incentive paid by banks to their customers directly when debit cards are used for financial transactions.
d) The charge given by a bank to the merchant for ensuring payments through the debit cards.
Ans- b
Exp: Merchant Discount Rate is a fee charged by a bank from a merchant for accepting payments from customers through credit and debit cards. Simply, it is the cost paid by a merchant to a bank for accepting payment and is expressed in percentage of the transaction amount. It is applicable for online transactions and QR-based transactions. The amount paid by the merchant is distributed among the bank enabling transaction, vendor that installs the point of sale machine and the network provider such as MasterCard, Visa, RuPay etc.
4. Consider the following statements with reference to the Toll-Operate-Transfer (TOT) model:
- The right of collection of toll on existing highway stretches is auctioned.
- It is applicable only to highways built through public funding.
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
Ans: c
Exp: The National Highways Authority of India (NHAI), for monetizing public-funded national highways proposes to use the Toll-operate-Transfer (ToT) model.
Under this model, the right of collection of user-fee or toll on selected national highway stretches that have been built through public funding is proposed to be assigned for a 30-year period to developers and investors against an upfront payment of a lump-sum amount to the government. During the tenure of the contract, the operation and maintenance would be the responsibility of the developer.
5. Consider the following statements with reference to the World Trade Organization (WTO):
- The General Council is the highest decision-making body.
- All major decisions are made by consensus.
- One of its objectives is to reduce the dis-equilibrium in the international balance of payments of its members.
Which of the statement(s) given above is/are correct?
a) 2 only
b) 1 and 3 only
c) 3 only
d) 2 and 3 only
Ans: a
Exp:
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. With effective cooperation in the United Nations System, governments use the organization to establish, revise, and enforce the rules that govern international trade.
Organizational structure
The highest authority of the WTO is the Ministerial Conference, which must meet at least every two years. The Ministerial Conference met most recently in June 2022 in Geneva. Hence, statement 1 is not correct.
In between each Ministerial Conference, the daily work is handled by three bodies whose membership is the same; they only differ by the terms of reference under which each body is constituted.
- The General Council
- The Dispute Settlement Body
- The Trade Policy Review Body
All major decisions are made by the membership as a whole. Hence, statement 2 is correct.
IMF aims to reduce the dis-equilibrium in the international balance of payments of its members. Hence, statement 3 is not correct.
6. Let x = (433)24 – (377)38 + (166)54. What is the unit digit of x?
a) 6
b) 7
c) 8
d) 9
Ans: c
Exp: x = (433)24 – (377)38 + (166)54
Unit digit of X = unit digit of 324 – 738 + 654
Power of 3 and 7 repeat unit digit after every 4 iteration and unit digit of power of 6 remains always 6 So.
Unit digit of x = 1 – 9 + 6
X = 7-9 or 17-9 (Adding 10 as 31 + 71)
X = 8.
7. What is the day of week on 1st January, 2033?
a) Friday
b) Saturday
c) Sunday
d) Monday
Ans: b
Exp: Calculating the odd days for 31st December 2032 :
2032 can be written as → (2000 + 32) so,
2000 → 0
And,
32 → Dividing 32 by 4 will give get quotient 8 i.e:
Means 8 Leap years and 24 Ordinary Years.
Odd day for leap year = 8*2 = 16
Odd day for ordinary Year = 24*1 = 24
Total = 16+24 = 40.
Now, 40 ÷ 7 = Remainder = 5
As 5 is the code for Friday , thus it is Friday on 31st December 2033.
So 1st January 2023 will be Saturday.
Cover the entire CSAT syllabus in 70 hours.
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