Glance MCQ’s Answers- 30.10.2017

Daily Prelims Answers 30th Oct 2017


  1. Which of the following statements are true?
  2. It is located in the southeastern Iran.
  3. It is close to Gulf of Eden.
  4. It is the only Iranian port with direct access to the Indian Ocean


  1. I , II only
  2. II, III only
  3. I,  III only
  4. I, II , III

Answer:  C


2. Which of the following statements are true about Commercial Papers?

  1. It is a secured debt instrument
  2. It is used as a long term instrument to raise capital.


  1. I only
  2. II only
  3. Both I and II
  4. Neither I nor II

Answer:  D


  • Commercial paper is an unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories and meeting short-term liabilities.
  • Maturities on commercial paper rarely range any longer than 270 days.

3. Bharat Net is

  1. Programme for internet connectivity
  2. Ensures power for all
  3. Ensures road connectivity
  4. None of the above.

Answer: A


  • Bharat Net Project, formerly known as National Optical Fibre Network (NOFN) was launched by Central Government in October, 2011 with an aim to deploy high-speed optical fibre cables across rural areas of India.
  • Its ultimate goal is to provide broadband connectivity to all 2.5 Lakh Gram Panchayats in India.
  • Besides providing digital connectivity, Bharat Net project will also inculcate projects such as a ‘DigiGaon’ to provide tele-medicine, education and skills by using digital technology.
  • The project is being implemented by Bharat Broadband Network Ltd (BBNL), a special purpose vehicle (SPV).

4. Subprime crisis is associated with?

  1. Defaulted loans due to hedge funds.
  2. Crisis arouse during natural disaster
  3. Risk associated with plate tectonics
  4. None of the above

Options: A


  • Subprime mortgage crisis was a nationwide banking emergency, occurring between 2007-2010, which contributed to the U.S. recession of December 2007 – June 2009.
  • It was triggered by a large decline in home prices after the collapse of a housing bubble, leading to mortgage delinquencies and foreclosures and the devaluation of housing-related securities.
  • Declines in residential investment preceded the recession and were followed by reductions in household spending and then business investment.
  • Spending reductions were more significant in areas with a combination of high household debt and larger housing price declines.

5. Which of the following are true about Sovereign Gold scheme?

  1. Indian citizens are only eligible for applying Sovereign Gold bond.
  2. The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
  3. It is exempted from capital gains tax.
  4. It is not exempted from GST.


  1. II,  III  only
  2. II, III , IV only
  3. I, II, IV only
  4. I, II, III , IV

Answer: A


  • The Bonds under this Scheme may be held by a person resident in India, being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual. The bond may also be held by a Trust, Charitable Institution and University. “Person resident in India” is defined under section 2(v) read with section 2(u) of the Foreign Exchange Management Act, 1999.
  • The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
  • The tenor of the Bond will be for a period of 8 years with an exit option from 5th year onwards to be exercised on the interest payment dates.
  • The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond.
  • It is exempted from GST.


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