Art

Boost your knowledge with a comprehensive collection of Arts MCQs with answers and detailed explanations. Covering topics from history of art, literature, philosophy, sociology, political science, and fine arts, these objective questions are designed for students, teachers, and candidates preparing for competitive exams (CSS, PMS, NTS, FPSC, PPSC, UPSC, etc.). Each MCQ is followed by a clear explanation to help you understand concepts better and improve your exam preparation. Perfect for self-assessment, practice, and revision in the field of Arts and Humanities.

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53. Who markets personal pension products?

A) Employers
B) IRDA
C) General Insurers
D) Life Insurers
✅ ANSWER: D
Life Insurers markets personal pension products. Personal pensions (also known as “private pensions”) are long-term savings products that individuals contribute to on a voluntary basis, complementing state and workplace pensions. They have a role to play in linking long-term savers with long-term investment opportunities.

54. Profit is a part of

A) Income
B) Owner’s capital
C) Assets
D) All of the above
✅ ANSWER: B
Profit is a part of Owner’s capital. When a company generates a profit and retains a portion of that profit after subtracting all of its costs, the owner’s equity generally rises.

56. With whom do we associate the concept of Human Life Value?

A) Martin Luther
B) Prof.H.S.Huebner
C) J.M.Keynes
D) Warren Buffet
✅ ANSWER: B
With Prof.H.S.Huebner we associate the concept of Human Life Value. Human life value (HLV) concept is an economic theory developed in 1920’s that attempt to assign a monetary value to one’s life.

57. An annual estimated costs of assets uses up every year are included

A) depreciation and amortization
B) net sales
C) net profit
D) net income
✅ ANSWER: A
An annual estimated costs of assets uses up every year are included depreciation and amortization. Depreciation represents the cost of capital assets on the balance sheet being used over time, and amortization is the similar cost of using intangible assets like goodwill over time.

58. Discriminating monopoly is possible if two markets have

A) Rising cost curves
B) Rising and declining cost curves
C) Different elasticity of demand
D) Equal elasticity of demand
✅ ANSWER: C
Discriminating monopoly is possible if two markets have different elasticity of demand. Price discrimination is possible only when the buyers from different sub-markets are willing to purchase the same product at different prices. If the elasticity of demand is the same, then the effect of the price change on the buyer will be identical too.

59. In case of perfect competition in the market

A) Marginal revenue curve always slopes upward
B) Marginal revenue curve always slopes downwards
C) Marginal revenue is always equal to average revenue
D) Marginal revenue is always less than average revenue
✅ ANSWER: C
In case of perfect competition in the market marginal revenue is always equal to average revenue. They coincide because marginal revenue is equal to average revenue at every output quantity. The equality between marginal revenue and average revenue is the result of perfect competition.

60. Which is an advantage in cash value contracts?

A) Reduced returns on account of inflation
B) Low accumulation in earlier years
C) Lower yields
D) Secure and safe investment
✅ ANSWER: D
Secure and safe investment is an advantage in cash value contracts. Cash value life insurance provides more financial flexibility.