NTA UGC NET/JRF Exam, September 2024 (Commerce)

Total Questions: 100

11. Match the List-I with List-II

List-I (Instruments)List-II (Market)
(a) ForwardsI. Primary Market
(b) Certificate of DepositsII. Money Market
(c) FPOIII. Derivative Market
(d) IPOIV. Stock Market

Choose the correct answer from the options given below:

Correct Answer: D.
Solution:Matching the financial instruments with the appropriate markets, Forwards are a type of financial contract used in the Derivative Market, hence (a) matches with III. Certificates of Deposit are short-term debt instruments typically issued by banks and are traded in the Money Market, so (b) matches with II. A Follow-on Public Offer (FPO) is a method used by already publicly traded companies to issue additional shares, which relates to the Stock Market, thus (c) matches with IV. An Initial Public Offering (IPO) is the first sale of stock by a company to the public and is part of the Primary Market, making (d) match with I.

12. Arrange the online registration process of a new private limited company in proper sequence.

(a) Select and Reserve Company Name
(b) Acquire DIN & DSC of promoters
(c) Draft Memorandum and Articles of Association
(d) Get Company Registration Certificate
(e) File SPICE+ Application
Choose the, correct answer from the options given below:

Correct Answer: C. (b), (a), (c), (e), (d)
Solution:The online registration process for a new private limited company involves several steps. First, the promoters need to Acquire the Director Identification Number (DIN) and Digital Signature Certificate (DSC) (b), which are essential for legal identification and electronic submission of documents. Next, Select and. Reserve Company Name (a) is done, which ensures the proposed company name is available and not similar to any existing company names. Drafting the Memorandum and Articles of Association (c) follows, which are the key documents outlining the company's structure and rules of operation. Then, File SPICE+Application (e) is the next step; this integrated form simplifies the application process by combining multiple services into a single form (e.g., DIN, mandatory issue of PAN, TAN, bank account number). Finally, the company receives the Get Company Registration Certificate (d), which is the official incorporation document.

13. Match the List-I with List-II.

List-IList-II
(a) Transfer of ownershipI. Negotiable Instrument
(b) Sale of goodwill after dissolutionII. Contract of Sale of Goods
(c) Buy back of sharesIII. Dissolution of Partnership Firm
(d) Promissory NoteIV. Share Capital of Company

Choose the correct answer from the options given below:

Correct Answer: A.
Solution:Matching the legal terms with their appropriate contexts, Transfer of ownership (a) pertains to the Contract of Sale of Goods (II), which legally transfers ownership from seller to buyer. Sale of goodwill after dissolution (b) relates to the Dissolution of a Partnership Firm (III), where assets including goodwill are disposed of and proceeds distributed among partners.
Buy back of shares (c) concerns the Share Capital of a Company (IV), where a company repurchases its own shares from shareholders. A Promissory Note (d) is a Negotiable Instrument (I), which is a legal document guaranteeing the payment of a specified amount of money at a set time or on demand.

14. When the number of trials (n) is large but the probability of success (p) is small, Binomial probability distribution can be approximated using:

Correct Answer: C. Poisson Distribution
Solution:When the number of trials (n) is large but the probability of success (p) is very small, the Binomial probability distribution can be approximated using the Poisson distribution. This approximation is particularly useful in situations where events occur independently and the total number of occurrences is low relative to the possible number of trials. The Poisson distribution simplifies calculations by focusing on the average rate of success over many trials without tracking the exact number of successes and failures, making it ideal for modeling rare events in large populations.

15. Match the List-I with List-II.

List-IList-II
(a) Tampering with computer source documents (Sec. 65)I. Imprisonment upto 2 years and/or fine upto ₹ 1 lakh
(b) Penalty for mis-representation (Sec. 71)II. Imprisonment upto 3 years, or fine of ₹ 2 lakh or both
(c) Penalty for Breach of confidentiality and privacy (Sec. 72)III. Imprisonment upto 2 years or fine which may extend to one lakh rupees or with both
(d) Punishment for cyber terrorism (Sec. 66F)IV. Imprisonment extends to imprisonment for life

Choose the correct answer from the options given below:

Correct Answer: C.
Solution:Matching the offences under the IT Act-2000 with their corresponding penalties, Tampering with computer source documents (Sec. 65) is punishable by Imprisonment up to 3 years, or a fine of 2 lakh or both, matching (a) with II. Penalty for misrepresentation (Sec. 71), involving false information, incurs a penalty, which may extend to one lakh rupees or with both imprisonment and fine, thus (b) with III. Breach of confidentiality and privacy (Sec. 72) pertains to unauthorized access and release of personal or confidential information, with penalties of up to 2 years or fine up to1 lakh, aligning (c) with I. Lastly, Punishment for cyber terrorism (Sec. 66F) carries a severe penalty, potentially extending to life imprisonment, correctly associating (d) with IV.

16. Arrange the following strategic decisions in international business in proper sequence.

(a) Market Selection Decision
(b) International Business Decision
(c) Entry and Operating Decision
(d) International organisation & HR Decisions
(e) Marketing Mix Decision
Choose the correct answer from the options given below:

Correct Answer: C. (b), (a), (c), (e), (d)
Solution:The proper sequence of strategic decisions in international business begins with the International Business Decision (b), which encompasses the initial consideration and decision to engage in or expand international operations. This decision sets the stage for all subsequent strategic considerations. Next is the Market Selection Decision (a), where a company identifies and selects specific international markets to enter, based on factors such as market size, potential growth, and competitive landscape. Following this is the Entry and Operating Decision (c), which involves choosing the mode of entry (e.g., export, joint venture, wholly owned subsidiary) and operational strategies for the selected markets. The Marketing Mix Decision (e) comes afterward, focusing on adapting or standardizing the marketing strategies (product, price, place, promotion) to fit the needs and preferences of the target international market. Finally, International Organization & HR Decisions (d) are made to structure the organization and manage human resources effectively across different cultural, legal, and business environments. This sequence ensures a strategic, organized approach to expanding into international markets, optimizing resource allocation, and enhancing global competitiveness.

17. "Fiduciary relationship" is a relationship based on:

Correct Answer: B. Absolute trust and reliance
Solution:A "fiduciary relationship" is fundamentally based on absolute trust and reliance between two parties. This type of relationship is crucial in contexts where one party, the fiduciary, is obligated to act in the best interests of another party, the principal. The defining element of a fiduciary relationship is that one party places trust and confidence in another who has a legal or ethical duty to act primarily for the benefit of the trusting party. Examples of fiduciary relationships include those between a trustee and a beneficiary, a lawyer and a client, or a director and the shareholders of a company. In thèse relationships, the fiduciary is expected to demonstrate the highest levels of honesty, loyalty, and integrity, often foregoing their own interests in favour of those of the principal. This relationship is not primarily defined by legal obligations, trade relations, or monetary benefits, but by the high level of trust and ethical conduct expected of the fiduciary.

18. Match the List-I with List-II.

Choose the correct answer from the options given below:

Correct Answer: D.

19. From the following identify the measures of dispersion:

(a) Mean Deviation
(b) Range
(c) Standard Deviation
(d) Coefficient of Variation
(e) Coefficient of Correlation

Correct Answer: D. (a), (b), (c) & (d) only
Solution:The measures of dispersion are statistical tools used to describe the spread or variability within a set of data. The correct answers include:
(a) Mean Deviation: This measure represents the average of the absolute differences between each data point and the mean of the dataset. It provides an overview of dispersion by showing how far, on average, each value lies from the center.
(b) Range: The simplest measure of dispersion, the range is the difference berween the maximum and minimum values in a dataset. It gives a quick sense of the spread of the data but can be easily affected by outliers.
(c) Standard Deviation: Perhaps the most widely used measure of dispersion, standard deviation quantifies the amount of variation or dispersion of a set of data values. A low standard deviation means that the data points tend to be close to the mean (also called the expected value) of the set, while a high standard deviation means that the data points are spread out over a wider range of values.
(d) Coefficient of Variation: This measure is the ratio of the standard deviation to the mean. It is particularly useful because it is a dimensionless number that allows for comparisons of the degree of variation between datasets with vastly different means and units.
(e) Coefficient of Correlation, however, is not a measure of dispersion but rather a measure of the strength and direction of a linear relationship between two variables. Therefore, it does not fit with the other options.
Hence, the correct answer is D, which includes (a), (b), (c), and (d) only, as these are the relevant measures of dispersion.

20. Determine the correct sequence of the steps involved in the process of hypothesis testing.

(a) Setting the null and alternative hypothesis
(b) Setting the level of significance
(c) Determining the appropriate statistical test
(d) Setting the decision rule
(e) Analysing the collected data
Choose the correct answer from the options given below:

Correct Answer: C. (a), (c), (b), (d), (e)
Solution:The process of hypothesis testing involves a systematic series of steps to determine whether to reject a null hypothesis (HOH_0HO) based on sample data. The correct sequence, as per the instructions, is outlined below in detail:
(a) Setting the null and alternative hypothesis: This is the foundational step where the researcher specifies the null hypothesis (HOH_OH0), which typically states that there is no effect or no difference between groups or conditions. Alongside, the alternative hypothesis (H1H_1H1) is set, which states that there is an effect, a difference, or a relationship. These hypotheses frame the scope and direction of the statistical analysis.
(c) Determining the appropriate statistical test: Once the hypotheses are defined, the next step involves selecting the correct statistical test that aligns with the data type, distribution, and the hypothesis itself. This choice is crucial as it impacts the analysis' validity. Possible tests include t-tests, chi-square tests, ANOVA, regression analysis, among others, depending on the data's nature and the hypothesis specifics.
(b) Setting the level of significance: After choosing the test, the level of significance (a) is decided. This value defines the threshold for rejecting the null hypothesis. Common levels are 0.05, 0.01, or 0.10, translating into a 5%, 1%, or 10% risk of wrongly rejecting the null hypothesis, respectively. This step sets the critical values for the subsequent statistical test.
(d) Setting the decision rule: Based on the selected level of significance and the chosen statistical test, the decision rule is established. This rule outlines the conditions under which the null hypothesis will be rejected or not rejected, incorporating the test statistic's critical values derived from the statistical test's distribution.
(e) Analyzing the collected data: Finally, with the decision rule in place, the actual data collected through research is analyzed. This analysis involves calculating the test statistic from the data and applying the decision rule. Based on whether the test statistic falls within the critical region, the null hypothesis is either rejected or not rejected, concluding the hypothesis testing process.
Thus, the sequence (C): (a), (c), (b), (d), (e) provides a logical and systematic approach to hypothesis testing, ensuring that the test is properly aligned with the research questions, correctly executed, and that conclusions are based on predetermined criteria, reducing the risk of error in hypothesis testing.