1.Which of the following items is characterized by highest income elasticity of demand among others?
Correct Answer: A [ Car ]
2.Approximately, what fraction of market capitalization of the Bombay Stock Exchange is accounted by the 30 stocks of the BSE SENSEX?
Correct Answer: B [20%]
3.Which among the following is the largest export market for India, for its marine products?
Correct Answer: B [EU]
4.Progressive Taxation is most closely associated to the base which the tax proposals are generally developed is __?
[A] Expediency Theory
[B] Cost of service approach
[C] Ability to pay approach
[D] Concentration approach
Correct Answer: C [Ability to pay approach]
5.Which among the following phrases generally denotes National Income?
[A] Gross National Product at Market Prices
[B] Net National Product at Market Prices
[C] Gross National Product at Factor Cost
[D] Net National Product at Factor Cost
Correct Answer: D [Net National Product at Factor Cost]
6.Which among the following taxes is levied by state government only?
[A] Wealth Tax
[B] Estate Duty
[C] Corporation tax
[D] Entertainment Tax
Correct Answer: D [Entertainment Tax]
7.Which among the following maintains Real Time Gross Settlement?
[A] Reserve Bank of India
[B] Asian Development Bank
[C] World Bank
[D] State Bank of India
Correct Answer: A [Reserve Bank of India]
8.In which year Tax Reforms committee was constituted by Government of India?
Correct Answer: C 
9.In an inflationary trend, the pricing of the bank products are:
[A] At increasing trend
[B] At decreasing trend
[C] No relevance of Inflation
Correct Answer: A [At increasing trend]
10.Which of the following rates is used by banks in India as a reference to price the rupee loans and advances
[A] Bank Rate
[B] Base Rate
[C] MCLR Rate
[D] Repo Rate
Correct Answer: C [ MCLR Rate ]