48. Rate denoted as r* is best classified as

by
A) real risk-free interest rate
B) real-risk free nominal rate
C) real-risk free quoted rate
D) real-risk free nominal premium
✅ ANSWER: A
Rate denoted as r* is best classified as real risk-free interest rate. The Risk-Free Rate of return is the interest rate an investor can expect to earn on an investment that carries zero risk.

43. Method, which considers cost and cost drivers of departments such as employee relations and process engineering is termed as

by
A) pricing method
B) manufacturing method
C) conference method
D) inference method
✅ ANSWER: C
Method, which considers cost and cost drivers of departments such as employee relations and process engineering is termed as conference method. The conference method is an approach to cost estimation that pools together data, analyses, and knowledge from expert sources in order to make decisions about costs.

78. ERP stands for.

by
A) Enterprise resolution planning
B) Enterprise reverse planning
C) Enterprise resource planning
D) None of the above
✅ ANSWER: C
ERP stands for Enterprise resource planning. It’s a business process management software that manages and integrates a company’s financials, supply chain, operations, reporting, manufacturing, and human resource activities.

75. Time and motion study is conducted by ________.

by
A) time keeping department
B) personnel department
C) payroll department
D) engineering department
✅ ANSWER: D
Time and motion study is conducted by engineering department. It is a major part of scientific management (Taylorism). After its first introduction, time study developed in the direction of establishing standard times, while motion study evolved into a technique for improving work methods.

72. What is the primary purpose of a life insurance product?

by
A) Tax rebates
B) Safe investment avenue
C) Protection against the loss of economic value of an individual’s productive abilities
D) Wealth accumulation
✅ ANSWER: C
Protection against the loss of economic value of an individual’s productive abilities is the primary purpose of a life insurance product. The primary purpose for purchasing life insurance is to provide financial stability to beneficiaries in the event of the insured’s death.

66. Which is not an example of social security schemes of the Government?

by
A) Rajeev Gandhi Equity Scheme
B) Janata Personal Accident
C) Jan Arogya Scheme
D) Employees State Insurance Corporation
✅ ANSWER: A
Rajeev Gandhi Equity Scheme is not an example of social security schemes of the Government. The scheme is aimed at encouraging the flow of savings of small investors in the domestic capital market, and presents investors with tax benefits provisioned as a new section, 80CCG, in the Income Tax act.