AIIOVF Online Assessment Test-1 for mock test LB

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This is mock test for preparation of exam

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Quiz Questions

Which of the following is not correct about functions of money?

1 point

It is a medium of exchange.

It is a measure of economic power.

It is a standard of deferred payments.

It is a store of value.

Clear selection

Property is a ___ concept.

1 point

physical

legal

technical

social

Clear selection

A valuer shall act with objectivity in his professional dealings by ensuring that his decisions are made ________.

1 point

without the presence of any bias

with coercion

with confidence

with undue influence of any party

Clear selection

In double entry system, accounts are primarily classified in to ___________.

1 point

Receiver account & Giver account

Income account & Expenses account

Real account & Nominal account

Personal Account & Impersonal account

Clear selection

For a real estate construction company, which of the following are 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

Which of the following is an example of secondary sector of an economy?

1 point

Mining

Forestry

Food Processing

Pisciculture

Clear selection

Real estate has some _______and, therefore, has a value.

1 point

profit

immobility

characteristics of non-marketable and non-investment property

use

Clear selection

Gradual shifting of a time series over a long period of time is called as __________.

1 point

periodicity

cycle

regression

trend

Clear selection

Which of the following is not a requirement of a contract?

1 point

Competent Parties

Free Consent

Legal Object

Adequate Consideration

Clear selection

How are Gross Domestic Product (GDP) and Gross National Product (GNP) related?

1 point

GNP = GDP – NR + NP

GNP = GDP + NR - NP

GNP = GDP + EX - IM

GNP = GDP -EX + IM

Clear selection

Which of the following is not true about Ricardian theory of rent?

1 point

Rent increases with increase in population.

Rent is surplus above cost.

Rent is unearned income.

Rent arises only in the short run.

Clear selection

Right to property is a ___ right.

1 point

fundamental

statutory

constitutional

human

Clear selection

As per the Transfer of Property Act, 1882, immovable property includes ______.

1 point

furniture

growing crops

grass

things permanently fastened to anything attached to the earth

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

A mortgage is a transfer of an interest in a specific immovable property for the purpose of securing __________.

1 point

the payment of money advanced by way of loan

fully paid up debts

transfer of ownership of property

transfer of rights to sublease

Clear selection

If a person has an income of Rs.30000 and his consumption is Rs.10000, then his propensity to save is____.

1 point

1.33

0.33

0.67

1.5

Clear selection

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

1 point

No development zone

Green belt

Special permission zone

Industrial regulation zone

Clear selection

Performance of contract is one of the methods to__________.

1 point

create a new contract

set-aside a contract

make a contract void

discharge a contract

Clear selection

Which of the following would have effect on development potential and values of properties?

1 point

Floor space index

Ownership pattern

size and height of rooms

provision of utility services in a building

Clear selection

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

1 point

decrease

increase

fluctuations

variations

Clear selection

Proposed dividend is shown in the Balance Sheet of a company under the head _____.

1 point

provisions

reserves and surplus

current liabilities

other liabilities

Clear selection

Which of the following items cannot be transferred under Inheritance/Succession laws in India?

1 point

Personal movable property

Jewellery

Property not owned by self

Personal belongings

Clear selection

The value at the end of utility period of the asset without being dismantled is called ____ value.

1 point

salvage

realisable

scrap

junk

Clear selection

Which of the following is not covered under the Indian Forest Act, 1927?

1 point

Reserved forest

Village forest

Protected forest

Prohibited forest

Clear selection

The price elasticity of demand measures the change in the quantity demanded of a service in relation to a change in its price when nothing but the ___________ changes. *

1 point

value

Cost

quality

price

In a right skewed frequency distribution, __________.

1 point

mean is typically greater than the median

mean is typically less than the median

mean is typically less than the mode

mean is equal to mode which is equal to median

Clear selection

Integrity of registered valuer is seriously affected by ____.

1 point

being honest

being straightforward

misrepresenting any facts or situations

ignoring public interest

Clear selection

A valuer, while respecting the confidentiality of information acquired during the course of performing professional services, shall maintain proper working papers for a period of ______.

1 point

3 years

2 years or such shorter period as required in its contract for a specific valuation

3 years or such longer period as required in its contract for a specific valuation

2 years

Clear selection

Which of the following is not a duty of the valuer?

1 point

To verify ownership in document and occupancy on actual site

To identify plot number in document as well as on-site

To be responsible for correctness of survey findings by his assistant

To investigate title of the property to be valued

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

If two events A and B are mutually exclusive, the probability of occurrence of either A or B is__________.

1 point

difference between individual probabilities of A and B

sum of the individual probabilities of A and B

always 1

one minus sum of the probabilities of A and B

Clear selection

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

1 point

Monopoly

Oligopolistic

Perfect Competition

Monopolist Competition

Clear selection

As per the Real Estate (Regulation and Development) Act, 2016, what percentage of collections needs to be deposited by developers in Escrow accounts towards the cost of construction including that of land?

1 point

50%

60%

70%

80%

Clear selection

What is the subject matter of valuation?

1 point

Interest in a propert

Land and Building

Standard Rent

Profit Rent

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

Value is an estimate of what ______ ought to be.

1 point

value

price

cost

worth

Clear selection

When numbers are associated with weights, then obtained mean is said to be _______.

1 point

weighted arithmetic mean

harmonic mean

standard mean

geometric mean

Clear selection

A gives Rs. 5,00,000 to B on condition that he shall marry A’s daughter C. At the date of transfer, C was dead. The transfer is void ______.

1 point

it is forbidden by the law

court regards it as immoral or opposed to public policy

it is impossible to fulfil the condition

it is immoral transfer

Clear selection

Which of the following statements is not true about factors of production? *

1 point

Land means natural resources.

Labour means human resources.

Capital means financial resources.

Entrepreneurship means pursuit of opportunity beyond resources controlled.

The approach to valuation of rented properties depends on_________.

1 point

nature and behaviour of landlords

category of tenants - tenant protected or not protected under the applicable rent act

rent paying capacity of the tenant

cordial and homely relationship between landlord and tenant

Clear selection

Which of the following legislations does not provide for pollution control?

1 point

The Water (Prevention and Control of Pollution) Act, 1974

The Air (Prevention and Control of Pollution) Act, 1974

The Environment (Protection) Act, 1986

The Technology (Transfer of Abuse) Act, 2007

Clear selection

Other things remaining same, the law of demand states __________.

1 point

the higher the price, the higher the quantity demanded

the higher the price, the lower the quantity supplied

Option 10

Option 6

Option 7

Option 9

the higher the price, the higher the quantity supplied

Option 11

Option 5

the higher the price, the lower the quantity demanded

Option 8

Under the Right to Fair Compensation and Transparency in the Land Acquisition and Rehabilitation Act, 2013, market value is decided by the collector as per________.

1 point

circle rate/guidelines rates of last 5 years

the average of the sale price for similar type of land being acquired, ascertained from the highest fifty per cent of the sale deeds registered during the preceding three years in the nearest village or nearest vicinity of the land being acquired

purchase price of adjoining land

purchase price paid by the owner at the time of purchase of land which is to be acquired

Clear selection

Discount received is recorded on which side of a cash book?

1 point

Receipts

Payments

Income

Expense

Clear selection

Where, on a transfer of property, an interest therein is created in favour of a person to take effect only on the happening of a specified event, such interest is called _________.

1 point

simple interest

diminishing interest

vested interest

contingent interest

Clear selection

Which of the following factor is not physical yet affects the valuation of the subject property?

1 point

Damages to the building

Gross Domestic Product

Property location

Neighbourhood properties

Clear selection

Which of the following is not a cause of demand-pull inflation?

1 point

Increase in wages and salaries

Increase in Government spending

Increase in interest rates

Increase in exports

Clear selection

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

1 point

contribution

gross

net

profit

Clear selection

The price that would tend to prevail in a free, open and competitive market on the basis of equilibrium set by the forces of demand and supply is called ______.

1 point

value in exchange

value in use

optimum value

realisable value

Clear selection

The Hindu Succession Act, 1956 does not apply to ______.

1 point

a follower of the Arya Samaj

a Sikh by religion

a child both of whose parents are Jains by religion

a person who is a convert to Christian

Clear selection

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