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General Knowledge(GK) (or) General Awareness

Welcome to the General Knowledge Section of Free Time Learning. As we are aware General Knowledge (GK) is a very important area in all the competitive exams held in the country. Nowadays, a good knowledge of general awareness is very important in clearing any competitive and government recruitment examinations.

These General Knowledge Question are very important and usefull to UPSC, IAS/PCS, UPPSC, IBPS, SBI, RBI, SSC, CGL, Railway, APPSC, TSPSC, KPSC, TNPSC, TPSC, UPPSC, MPSC, RPSC, BPSC, MPPSC, UKPSC, MPSC, and other competitive exams.

1 .
Situations when the insurance company passes some part of or all risks to another
A)
Double-insurance
B)
Co-insurance
C)
Void-insurance
D)
Reinsurance

Correct Answer :   Reinsurance

Published On : May 21, 2021
2 .
Which five year plan of India adopted the Prof. Mahalnobis model ?
A)
First Plan
B)
Second Plan
C)
Third Plan
D)
Fourth Plan

Correct Answer :   Second Plan

Published On : May 21, 2021
3 .
The largest component of India's services surplus is
A)
Health and Tertiary medical care
B)
Travel and tourism
C)
Entertainment
D)
Information Technology Industry

Correct Answer :   Information Technology Industry

Published On : May 21, 2021
4 .
Contract of insurance is a contract of
A)
Indemnity
B)
Guarantee
C)
Agency
D)
Boilment

Correct Answer :   Indemnity

Published On : May 21, 2021
5 .
From the banking perspective, the use of ATM can be called :
A)
Personal banking
B)
Internet banking
C)
Mobile banking
D)
Branchless banking

Correct Answer :   Branchless banking

Published On : May 21, 2021
6 .
The collective demand of all persons in the market is referred as
A)
Market Demand Schedule
B)
Demand curve
C)
Both (a) and (b)
D)
None of the above

Correct Answer :   Market Demand Schedule

Published On : May 21, 2021
7 .
Two conditions are required to be there for the equilibrium under monopoly. These are
A)
MC = AR and MC cuts the MR from below
B)
MC = MR and MR cuts the MC from below
C)
MR = MC and MC cuts the MR from below
D)
MR = MC and MC cuts the MR from above

Correct Answer :   MR = MC and MC cuts the MR from below

Published On : May 21, 2021
8 .
Oligopoly is a market situation where
A)
There are two or more monopolistic firms.
B)
There are few firms producing close substitutes.
C)
There are few firms producing complementary goods.
D)
There are few firms producing entirely different goods.

Correct Answer :   There are few firms producing close substitutes.

Published On : May 21, 2021
9 .
Monopoly exploitation is reduced by regulation that
A)
restricts output
B)
enhances product-market competition
C)
increases the bargaining power of workers
D)
increases the bargaining power of employers

Correct Answer :   enhances product-market competition

Published On : May 21, 2021
10 .
Which one of the following is a direct tax?
A)
Wealth tax
B)
Customs duty
C)
Excise duty
D)
Sales tax

Correct Answer :   Wealth tax

Published On : May 21, 2021