Expenditure incurred in carrying out illegal business is—

A. Not allowed as deduction in any case.

B. Allowable as deduction, if gross total income is less than Rs. 5 lakhs.

C. Allowable as deduction in all cases.

D. Allowable as deduction, if income from illegal business is offered to tax.

Notice of loss should be given to the insurer within ________days of the event of loss.

A. 30

B. 15

C. 7

D. 21

Mr. Rajesh was the owner of an uninsured property. But unfortunetaly the property caught fire because of which he suffered severe financial losses. The reason Mr. Rajesh suffered losses as he did not cover:

A. The investment risk

B. The pure risk

C. The speculative risk

D. The dynamic risk

An HUF consisted of a father, who is a widower, his three sons and a daughter. On death of the father what will the share of each of his sons?

A. One fourth plus one sixteenth of HUF property

B. One sixteenth of HUF property

C. One third of HUF property

D. One fourth of HUF property

Which of the following determines the exchange rate?

A. Demand of foreign exchange.

B. Supply of foreign exchange.

C. Both A&B

D. Inflation rate.

Identify the stage in the money laundering process where funds are being constantly moved or re-characterised to conceal their origins. This stage is known as:

A. placement

B. layering

C. integration

D. All of the above

According to the capital asset pricing model, the expected rate of return on any security is equal to __________.

A. [(the risk-free rate) + (beta of the security)] x (market risk premium)

B. (the risk-free rate) + [(variance of the security's return) x (market risk premium)]

C. (the risk-free rate) + [(security's beta) x (market risk premium)]

D. (market rate of return) + (the risk-free rate)]

Which of following is not an exclusion under a health policy?

A. Pre existing conditions

B. Accident injury

C. Elective surgery

D. Intentional self inflicted injury

Interest rate charged are higher in ……………

A. Prime mortgage

B. Sub prime mortgage

C. Simple mortgage

D. None of the above

The markets for funds traded in currencies other than the currency of the trading country are referred to as

A. off-shore banking centres.

B. international financial centres.

C. the world market.

D. Eurocurrency markets.

How many types of power of attorney are there?

A. One

B. Two

C. Three

D. Four

What is the prudent practice for parking emergency fund for a working young couple?

A. 12 month’s family income

B. 1 month’s family income

C. 2-3 months family income

D. None of the above