AIIOVF Online Assessment Test-1 for mock test PM

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This is mock test for preparation of exam

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Quiz Questions

In double entry system, accounts are primarily classified into ___________.

1 point

receiver account & giver account

income account & expenses account

real account & nominal account

personal account & impersonal account

Clear selection

Section 231 (2) of the Companies Act, 2013 empowers a tribunal to __________, if it is satisfied that the compromise sanctioned under section 230 cannot be implemented satisfactorily, and the company is unable to pay its debts as per the scheme.

1 point

wind up the company

restructure the debt

call for rearrangement

replace the management

Clear selection

Which of the following depreciation methods has equal amount of depreciation worked out year wise?

1 point

Straight line

Reducing balance

Sum of years digits method

Block of assets

Clear selection

If a person has an income of Rs.30,000 and his consumption is Rs.10,000, then his propensity to save is:

1 point

1.33

0.33

0.67

1.50

Clear selection

In which of the following Act, provisions for health and safety in industries are covered?

1 point

The Environment Protection Act

The Forest Act

The Factories Act

The Industrial Dispute Act

Clear selection

Under SARFAESI Act 2002, a lender should approach which of the following agency, to file an application for enforcement of its security interest?

1 point

Debt recovery tribunal

High court

National company law tribunal

District Court

Clear selection

A market which has only one seller selling a homogeneous product to many buyers is known as:

1 point

oligopoly

monopoly

perfect competition

monopolistic competition

Clear selection

Which of the following is not a conduct most people associate with ethical behaviour?

1 point

Bribing

Negotiating

Advocating

Lobbying

Clear selection

As an independent valuer, the valuer should not charge________fee.

1 point

professional

success

mandate

legal

Clear selection

A movable article which is used to make a room suitable for working can be classified as ________.

1 point

plant

machinery

furniture

vehicle

Clear selection

Which of the following is not a characteristic of the informal economy?

1 point

Easy entry

No taxes

Predominantly micro

Regulated businesses

Clear selection

In which of following methods, valuer adjusts prices paid for comparable assets with subject assets to estimate value?

1 point

Depreciated replacement cost method

Discounted cash flow

Rule of thumb method

Sales comparison method

Clear selection

As per section 36 of the Insolvency and Bankruptcy Code, 2016, the liquidator shall hold the liquidation estate:

1 point

as an agent of debtor

as an agent of committee of creditors

as a fiduciary for the benefit of all the creditors

as a fiduciary for the benefit of all the stakeholders

Clear selection

Utility is the only value ingredient for which of the following property?

1 point

Investment property

Marketable non-investment property

Service property

Business assets

Clear selection

Which chapter of the Constitution of India is non-justiciable in a court of law? law for the violation of Directive Principles of State Policy given under the.

1 point

Preamble

Fundamental rights

Fundamental duties

Directive Principles of State Policy

Clear selection

With reference to auction sale, select the correct statement:

1 point

Auctioneer can accept payment by means of a bill of exchange

Auctioneer cannot sell goods on credit or accept payment by means of bill of exchange

Auctioneer shall mandatorily accept payment of purchase price by means of cheque

The auctioneer can sell goods on credit as he deems fit

Clear selection

Which one of the following values represents value in exchange?

1 point

Insurable value

Market value

Use value

Indemnity value

Clear selection

Damage caused to an asset naturally as a result of aging is known as _____.

1 point

wear and tear

economic obsolescence

functional obsolescence

operating obsolescence

Clear selection

Which of the following does not represent auction market?

1 point

Sale of goods to a highest bidder

Awarding contract to a lowest service bidder

Purchase of goods through internet

Purchase of goods through internet by bidding

Clear selection

Professional independence is a subset of which one of the following pairs of fundamental principles?

1 point

Integrity and due diligence

Integrity and objectivity

Due diligence and professional competence

Objectivity and due diligence

Clear selection

Theories of factor of production consider _____ to be the reward for the entrepreneur.

1 point

rent

interest

profit

capital

Clear selection

Which of the following building structure is treated as plant and machinery?

1 point

Water tank for township

Roads

Sewer

Chimney to boiler

Clear selection

The frequency at which one unit of currency is used to purchase domestically produced goods and services within a given time period is known as:

1 point

velocity of money

speed of money

momentum of money

count of circulation of money

Clear selection

A Tort is right:

1 point

in rem

in personam

in recission

in novation

Clear selection

Difference between selling price and variable cost per unit can be classified as______ per unit.

1 point

contribution margin

interest margin

rent margin

profit margin

Clear selection

Potential income means_______.

1 point

income that an enterprise is capable of earning

projected revenue

actual income earned by an enterprise

going-concern value

Clear selection

Which planning provision is required around the battery limit for an industry having odour problem?

1 point

No development zone

Green belt

Special permission zone

Industrial regulation zone

Clear selection

When proportionate change in price is equal to proportionate change in quantity demanded of any commodity, then such demand is called: *

1 point

unitary elastic demand

relatively elastic demand

relatively inelastic demand

cross elasticity

Which technique helps to focus on major items during site visit is known as_____.

1 point

Balance sheet study

Market research

ABC analysis

Reconciliation of data received

Clear selection

Which one of the following is the only option for an investor when his/her earnings level is below liquidation value of the asset?

1 point

To liquidate assets

To increase the asset base by acquiring additional assets

To pledge the tangible assets as security and obtain additional capital

To buy new assets

Clear selection

Which of the following is a basis for charging depreciation under the Income Tax Act, 1961?

1 point

Block of asset

Item wise asset

Replacement cost

Residual value

Clear selection

For a valuation exercise using the market approach, data collection does not normally include collecting which one of the following?

1 point

Technical specifications

Fixed Asset Register

Date of installation

Income attributable to the asset

Clear selection

Which of the approaches is used by a valuer to determine present value of future economic benefits of owning the property?

1 point

Cost

Market

Income

Rule of thumb

Clear selection

Investment does not depend significantly upon the __________.

1 point

demand

level of income

progress of technology

expectation of the entrepreneur

Clear selection

Which of the following is a direct cost component of replacement cost?

1 point

Material cost

Finance charges

Legal fees

License fees

Clear selection

Technology that permits safe, efficient, and inexpensive clean-up of contaminants in property tends to minimise _________ in asset value

1 point

gain

loss

fluctuations

uncertainty

Clear selection

When value of variables are associated with weights, then the mean obtained is said to be _______.

1 point

weighted arithmetic mean

harmonic mean

standard mean

geometric mean

Clear selection

Which of following activity is not the role of a valuer?

1 point

Physical verification

Estimation of replacement cost new

Market survey

Preparation of balance sheet

Clear selection

Number of years for which a new asset is profitably used for its intended purpose is known as _______.

1 point

economic life

normal useful life

total life

physical life

Clear selection

Unit of maximum production according to the manufacturer's specification of equipment is known as___________.

1 point

installed capacity

actual production

licensed capacity

utilization capacity

Clear selection

For a real estate construction company, which of the following is not part of Profit and Loss statement?

1 point

Revenue from apartment sales

Interest paid to lenders

Cash deposited in bank

Depreciation expense

Clear selection

The patterns of change within a year that tend to repeat from previous period is called ________.

1 point

irregular variation

seasonal variation

secular trend

cyclical fluctuation

Clear selection

In case of a ___________, the duty is one imposed by the law and is owed to the community at large.

1 point

contingent contract

cecile agreement

government tender

tort

Clear selection

Which of the following can be considered as an investment property?

1 point

A pharmaceutical unit

Public school

Townhall

Tata Sumo owned by Jackson for private use

Clear selection

With reference to the Arbitration and Conciliation Act, 1996, if the parties fail to determine number of arbitrators, which statement holds true?

1 point

The arbitral tribunal shall consist of sole arbitrator only.

The civil court shall take the cognizance of the matter.

The arbitral tribunal shall consist of a judge not less than the rank of a High Court Judge.

The arbitral tribunal shall consist of a judge not less than the rank of a District Judge.

Clear selection

Which of the following represents limitation of cost approach?

1 point

Quantifying depreciation for wear and tear

Cannot quantify economic obsolescence

Quantifying technological obsolescence

Estimation of replacement cost

Clear selection

Mr. X desires a Court give judgment that he is entitled to certain land in the possession of Mr. Y, by reason of facts which he asserts, and which Mr. Y denies, to be true. Select the correct statement.

1 point

Mr. Y must prove the existence of the facts

There is no burden on either to prove the facts

Mr. X must prove the existence of the facts

The Registrar of the property concerned shall prove the possession

Clear selection

Which of the following would not be included in Valuer`s Engagement Letter?

1 point

Timeline of the engagement

Management`s responsibilities with respect to financial records and accuracy of information

Terms of payment

Management representation

Clear selection

Which of the following approaches is generally used while valuing specialized plant and machineryhaving limited marketability and which is rarely sold?

1 point

Market

Income

Cost

Sales comparison

Clear selection

A contract to perform the promise, or discharge the liability, of a third person in case of default is known as:

1 point

Contract of indemnity

Contract of guarantee

Contingent contract

Quasi contract

Clear selection

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