(Paper) CA-CPT Previous Year Question Paper "June - 2014", Set- 2
(Paper) CA-CPT Previous Year Question Paper "June - 2014"
Session - 2
Part A – General Economics
1. Which statement is true about law of demand
a) Price rises; Demand rises
b) Price falls ; Demand falls
c) Price falls; Demand rises
d) Income falls; Demand rises
2. Which of the following is not a determinant of demand
a) Income of the consumers
b) Price of related goods
c) Quantity Supplied of a commodity
d) Consumer’s Taste & Preferences
3. Generally when income of a consumer increases he goes for superior goods, leading to fall in demand for inferior goods. It means income elasticity of demand is ______
a) Less than one
b) Negative
c) Zero
d) Unitary
4. Which one of the following is not a characteristic of land
a) A Free gift of nature
b) Its supply is fixed
c) An active factor of production
d) It has Different Uses
5. An entrepreneur undertakes which of the following functions
a) Initiating a business and resource coordination
b) Risk or uncertainity bearing
c) Innovation
d) All of the following
6. With a view to increase his production Hari Haran a manufacturer of shoes, increases all the factors of production in his unit by 100%. But at the end of year he finds that instead of an increase of 100%, his production has increased by only 80%. Which law of returns to scale is operating in this case _____
a) Increasing returns to scale
b) Decreasing returns to scale
c) Constant returns to scale
d) None of the above
7. A demand curve parallel to y-axis implies
a) Ep=0
b) Ep=1
c) Ep<1
d) Ep>1
8. Marginal Cost changes due to change in ____ Cost
a) Variable
b) Fixed
c) Total
d) Average
9. A firm produces 10 units of commodity at an average total cost of Rs.200 and with a fixed cost of Rs.500. Find out component of average variable cost in total cost.
a) Rs.300
b) Rs.200
c) Rs.150
d) Rs.100
10. Average total cost to firm is Rs. 600 when it produces 10 units of output and Rs. 640 when the output is 11 units. The MC of the 11th unit is
a) 40
b) 540
c) 840
d) 1040
11. The demand curve of an oligopolist is
a) Determinate
b) Indeterminate
c) Circular
d) Vertical
12. Selling outlay is an essential part of which of the following market situation
a) Monopolistic Competition
b) Perfect Competition
c) Monopoly
d) Pure Competition
13. Kinky demand curve model explains the market situation known as _____
a) Pure Oligopoly
b) Collusive oligopoly
c) Differentiated Oligopoly
d) Price rigidity
14. The distinction between a single firm & an Industry vanishes in which of the following market condition
a) Monopoly
b) Perfect competition
c) Monopolistic competition
d) Imperfect competition
15. For price discrimination to be successful, the elasticity of demand for the commodity in the two markets, should be:
a) Same
b) different
c) Constant
d) Zero
16. Abnormal profits exists in the long run only under _____
a) Monopoly
b) Perfect competition
c) Monopolistic competition
d) Oligopoly
17. One of the essential conditions of Perfect competition is _____
a) Product differentiation
b) Many sellers and few buyers
c) Only one price for identical goods at any one time
d) Multiplicity of prices for identical products at any one time
18. Production Possibilities curve is also known as ___
a) Transformation curve
b) Demand Curve
c) Supply Curve
d) Indifference Curve
19. Who has defined Economics as “Science which deals with wealth”
a) J.B.Say
b) Adam Smith
c) Canon
d) A.C.Pigou
20. Which of the following is not feature of capitalistic economy?
a) Right to private property
b) Restriction on consumer’s right to choose
c) Profit motive
d) Freedom of enterprise
21. The term mixed economy denotes
a) Co-existence of consumer and producer’s goods industries in the economy
b) Co existence of private & public sectors in the economy
c) Co existence of urban & rural sectors in the economy
d) Co existence of large & small industries sectors in the economy
22. A firm will close down in the short period, if AR is less than
a) AVC
b) AC
c) MC
d) None
23. The basic reason of considering the Indian Economy as under developed economy is:
a) Wide spread of poverty
b) High growth of population
c) High income inequalities
d) All of these
24. Tourism is an the example of
a) Primary Sector
b) Secondary Sector
c) Tertiary Sector
d) None of the above
25. ____ has highest Literacy rate in India
a) U.P
b) Rajasthan
c) Kerala
d) Haryana
26. Which state has the highest urban population
a) Uttar Pradesh
b) Maharastra
c) Tamilnadu
d) Rajasthan
27. In rural areas in India, the nature of unemployment is _____
a) Disguised Unemployment
b) Seasonal Unemployment
c) Both a) and b)
d) Voluntary Unemployment
28. Which of the following poverty eradication scheme is presently operational in India?
a) Mahatma Gandhi National Rural Employment Guarantee Scheme
b) Ajeevika
c) Swarn Jayanthi Shahari Rojgar Yojana
d) All of these
29. Petroleum, Oil and Lubricants (POL) constitutes around ____ % of India’s imports bill
a) 32
b) 35
c) 37
d) 39
30. Which of the following is the Correct definition of Micro enterprise according to micro, small and medium enterprise development (MSMED) Act 2006?
a) Upto Rs. 20 lakh investment
b) Upto Rs. 25 lakh investment
c) Upto Rs. 30 lakh investment
d) Upto Rs. 35 lakh investment
31. Plant load factor, a measure of operational efficiency of a thermal plant varies across the regions in India. In which of the following regions it has been lowest in the year 2012-13.
a) Eastern
b) Western
c) Central
d) Southern
32. Food Corporation of India (FCI) is the Nodal Agency for which of the following activities relating to food management in the country?
a) Procurement
b) Distribution
c) Storage
d) All of the above
33. The annual growth rate of industrial sector has remained at _____ % over 11th plan period
a) 8.2
b) 7.4
c) 8.9
d) 6.8
34. Since adoption of economic liberalisation the share of agriculture in India’s GDP is _____
a) Constant
b) Increasing
c) Decreasing
d) None of these
35. R.B.I Nationalised in ___
a) 1949
b) 1969
c) 1935
d) 1991
36. Which of the following is not the function of R.B.I
a) Banker’s Bank
b) Issue of currency.
c) Regulation of Foreign Trade
d) Custodian of Forex Reserves
37. Which one of the following statement defines the term Reverse Repo Rate?
a) The Rate at which commercial banks borrow money from RBI
b) The Rate at which RBI borrows from other banks
c) The Rate at which commercial banks borrow from each other
d) None of these
38. Monetary policy in India is regulated by
a) Ministry of finance
b) RBI
c) Planning Commission
d) SEBI
39. Which of the following bank enforces the provisions of foreign exchange management act in India?
a) Central Bank of India
b) State Bank of India
c) ICICI
d) Reserve bank of India
40. Which of the following is not a quantitative method of credit control
a) Bank Rate policy
b) Open market operations
c) The Repo Rate
d) Consumer credit regulation
41. Traditionally money has been defined on the basis of its functional aspects. Which one of the following falls under this category
a) Medium of exchange
b) Measure of value
c) A Store of value
d) all of the above
42. Stagflation is _____
a) Inflation with recession
b) Inflation with growth
c) Deflation with growth
d) Deflation followed with inflation
43. Which of the following measures can be used for curbing inflation
a) Monetary measures
b) Fiscal measures
c) Investment Controls
d) All of these
44. Trend of continuous rising prices of factors of production is known as____
a) Demand pull inflation
b) Cost push inflation
c) Stagflation
d) Hyperinflation
45. Which of the following was not immediate cause of 1991 economic crisis
a) Rapid growth of population
b) Severe inflation
c) Expanding Fiscal deficit
d) Rising current account deficit
46. Direct taxes being progressive in nature, it is help to
a) Reduce inequality
b) Reduce poverty
c) Reduce price
d) Reduce poverty and prices
47. In 2003 _____ was passed to reduce the Gross Fiscal fiscal deficit by 0.5% of GDP in each financial year.
a) FRBM Act
b) FERA
c) FEMA
d) FEPA
48. Adverse balance of payments can be corrected through
a) Devaluation of currency
b) Import Substitution
c) Vigorous exports
d) All of these
49. ______ means integrating the global economy with the world economy
a) Globalisation
b) Privalisation
c) Disinvestment
d) Liberalisation
50. As a consequence of economic reforms, the MRTP Act 1969 was replaced by competition Act in year ______
a) 2001
b) 2002
c) 2003
d) 2004
Part B - Quantitative Aptitude
53. If (125)150 = (25x)50 then the value of x will be
a) 35
b) 45
c) 25
d) 5
a) y
b) -1
c) 1
d) None
55. In a class of 50 students 35 opted for Maths, 37 opted for commerce. The number of such students who opted for both maths and commerce is
a) 13
b) 15
c) 22
d) 28
56. The range of the relation {(1,0) (2,0) (3,0) (4,0) (0,0)} is
a) {1,2,3,4,0}
b) {0}
c) {1,2,3,4}
d) None
57. If A={1,2,3} and B={4,6,7} then the relation R={(2,4) (3,6)} is
a) A function from A to B
b) A function from B to A
c) Both (a) and (b)
d) Not a function
a) 1.95
b) 1.5
c) 1.75
d) None
61. The distance from the origin to the point of intersection of the two straight lines 3x-2y=6 and 3x+2y=18 is
a) 2units
b) 3 units
c) 4 units
d) 5 units
62. The lines 3x-4y+5=0, 7x-8y+5=0 and 4x+5y- 45=0 are
a) Concurrent
b) Parallel
c) Not concurrent
d) None of these
a) BCDB and DEFD
b) Unbounded
c) HFGH
d) ABDFHKA
64. The roots of equation y3 + y2 - y- 1 = 0 are
a) 1,1,-1
b) -1,-1,1
c) 1,1,1
d) None
a) 5
b) 5/2
c) 1
d) None
68. If 6 times the no. of permutations of n items taken 3 at a time is equal to 7 times the no. of permutations of (n-1) items taken 3 at a time then the value of n will be
a) 7
b) 9
c) 13
d) 21
a) 999
b) 998
c) 997
d) None
70. If P is 25% less than Q and R is 20% higher than Q the Ratio of R and Q
a) 5:8
b) 8:5
c) 5:3
d) 3:5
71. A person has assets worth Rs.1,48,200. He wish to divide it amongst his wife, son and daughter in the ratio 3:2:1 respectively. From this assets the share of his son will be
a) Rs.74,100
b) Rs.37,050
c) Rs.49,400
d) Rs.24,700
72. If a sum triples in 15 yrs at Simple rate of interest then the rate of interest per annum will be
a) 13.0%
b) 13.3%
c) 13.5%
d) 18%
73. The Partners A & B together lent Rs. 3903 at 4% p.a interest compounded annually. After a span of 7 years, A gets the same amount as B gets after 9 years. The share of A in the sum of Rs.3903/- would have been
a) Rs.1875
b) Rs.2280
c) Rs.2028
d) Rs.2820
74. How much amount is required to be invested every year as to accumulate
Rs. 6,00,000 at the end of 10th year, if interest is compounded annually at 10%
rate of interest?
[Given : (1.1)10 = 2.59374]
a) Rs.37,467
b) Rs.37,476
c) Rs.37,647
d) Rs.37,674
76. The mean of the following data is 6. Find the value of P.
| X: | 2 | 4 | 6 | 10 | P+5 |
| Y: | 3 | 2 | 3 | 1 | 2 |
a) 4
b) 6
c) 8
d) 7
77. Which of the following statement is true?
a) Median is based on all observations
b) The Mode is the mid value
c) The Median is the 2nd Quartile
d) The Mode is the 5th decile
80. When each individual gets the exactly opposite rank by the two judges, then the rank correlation will be ______
a) -1
b) 0
c) +1
d) +1/2
81. The equations two lines of regression for x & y are 5x = 22 + y and 64x = 24 + 45y, then the value of regression coefficient of y on x will be ____
a) 5
b)1/5
c) 64/45
d) 45/64
83. If the mean of two variables x & y are 3 and 1 respectively. Then the equation of two regression lines are _____
a) 5x+7y-22=0 & 6x+2y-20=0
b) 5x+7y-22=0 & 6x+2y+20=0
c) 5x+7y+22=0 & 6x+2y-20=0
d) 5x+7y+22=0 & 6x+2y+20=0
84. Circular test is satisfied by which index number?
a) Laspayere’s
b) Paasahe’s
c) Fisher’s
d) None of the above
85. Fisher’s Index number is _____ of Laspayere’s and Paasehe’s Index numbers
a) A.M
b) G.M
c) H.M
d) None
86. Which of the following statement is true?
a) Paasche’s index number is based on base year quantity
b) Fisher’s index satisfies the circular test
c) Arithmetic mean is the most appropriate average for constructing the index
number
d) Splicing means constructing one continuous series from two different indices
on the basis of common base
87. Monthly salary of on employee was Rs.10,000 in the year 2000 and it was increase to Rs.20,000 in the year 2013 while the consumer price index number is 240 in year 2013 with the base year 2000, what should be his salary in comparison of consumer price index in the year 2013?
a) 2,000
b) 16,000
c) 24,000
d) None
88. The following data related to the marks of group of students
| Marks | No. of Student |
| More than 70% | 7 |
| More than 60% | 18 |
| More than 50% | 40 |
| More than 40% | 60 |
| More than 30% | 75 |
| More than 20% | 100 |
How many students have got marks less than 50% ?
a) 60
b) 82
c) 40
d) 53
89. To draw Histogram the frequency distribution should be
a) Inclusive type
b) Exclusive type
c) Inclusive and Exclusive type
d) None of the above
90. “The less than Ogive” is a:
a) U – shaped curve
b) J – shaped curve
c) S – shaped curve
d) Bell – shaped curve
91. There were 200 employees in an office in which 150 were married. Total male employees were 160 out of which 120 were married. What was the number of female unmarried employees?
a) 30
b) 10
c) 40
d) 50
95. If a variate X has, Mean > variance, then its distribution will be
a) Binomial
b) Poisson
c) Normal
d) t-distribution
97. 5000 students were appeared in an examination. The mean of marks was
39.5 with standard deviation 12.5 marks. Assuming the distribution to be normal,
find the number of students recorded more than 60% marks.
[Given when Z = 1.64 area of normal curve = 0.4494]
a) 1000
b) 505
c) 252
d) 2227
98. Method used to test the human blood is called in statistical terminology ______
a) Census investigation
b) Blood investigation
c) Sample investigation
d) None
99. A parameter may be defined as a characteristic of a population based on ____
a) Sample units
b) All the units
c) Few units
d) Any of the above
100. If it is known that the 95% LCL and UCL to population mean are 48.04 and 51.96 respectively. If the sample size is 100, what will be the value of population SD?
a) 8
b) 10
c) 12
d) 12.5
Answer Key
Part A – General Economics
1. C 2. C 3. B 4. C 5. D 6. B 7. A 8. A 9. C 10. D 11. B 12. A 13. D 14. A 15. B 16. A 17. C 18. A 19. A 20. B 21. B 22. A 23. D 24. C 25. C 26. B 27. C 28. D 29. B 30. B 31. A 32. D 33. B 34. C 35. A 36. C 37. B 38. B 39. D 40. D 41. D 42. A 43. D 44. B 45. A 46. A 47. A 48. D 49. A 50. B
Part B – Quantitative Aptitude
51. C 52. B 53. B 54. C 55. C 56. B 57. D 58. C 59. B 60. A 61. D 62. A 63. D 64. B 65. A 66. A 67. B 68. D 69. A 70. B 71. C 72. B 73. C 74. B 75. C 76. D 77. C 78. A 79. C 80. A 81. C 82. C 83. A 84. D 85. B 86. D 87. C 88. A 89. B 90. B 91. B 92. C 93. D 94. A 95. A 96. A 97. C 98. C 99. B 100. B