151. Present liability of uncertain amount, which can be measured reliably by using a substantial degree of estimation is termed as

by
Contingent liability
Liability
Provision
Reserve
✅ The correct answer is C.
Present liability of uncertain amount, which can be measured reliably by using a substantial degree of estimation is termed as Provision. A provision is an account which records a present liability of an entity.

1622. A method of valuing insured property or the value computed by that method is known as

by
Actual cost validity
Actual cash value
Replacement cash value
Normal cost value
✅ The correct answer is B.
Actual Cash Value (ACV) is a method of valuing insured property or the value computed by that method. Actual Cash Value (ACV) is not equal to replacement cost value (RCV). ACV is computed by subtracting depreciation from replacement cost.

1621. What is the essential feature of an MRI?

by
To bargain for cheaper mortgage rates from loan provider
To continuously protect the value of the mortgaged property
To escape court action of attachment in case of default or indebtedness
To act as a collateral for ensuring financial protection for home loan borrowers
✅ The correct answer is D.
The essential feature of an MRI is to act as a collateral for ensuring financial protection for home loan borrowers.

1619. A type of project whose cash flows would not depend on each other is classified as

by
project net gain
independent projects
dependent projects
net value projects
✅ The correct answer is B.
A type of project whose cash flows would not depend on each other is classified as independent projects. A project whose acceptance or rejection is independent of the acceptance or rejection of other projects.

1617. According to capital asset pricing model assumptions, variances, expected returns and covariance of all assets are

by
identical
not identical
fixed
variable
✅ The correct answer is A.
According to capital asset pricing model assumptions, variances, expected returns and covariance of all assets are identical. The Capital Asset Pricing Model ( CAPM) describes the relationship between systematic risk and expected return for assets, particularly stocks.

1615. In case of monopoly

by
Marginal revenue curve always slopes upward
Total revenue curve always slopes upward
Marginal revenue is always equal to average revenue
Marginal revenue is always less than average revenue
✅ The correct answer is D.
In case of monopoly, Marginal revenue is always less than average revenue. A monopolist’s marginal revenue is always less than or equal to the price of the good. Marginal revenue is the amount of revenue the firm receives for each additional unit of output.