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NEW QUESTION 605
Mr. John purchased a house in Mumbai in March 2010 for Rs.12,50,000. In April,2011 he entered into an agreement to sell the property to Mr. Akram for a consideration of Rs.19,75,000 and received earnest money of Rs. 50,000. As per the terms of the agreement, the balance payment was to be made within 30 days of the agreement. If the intending purchaser does not make the payment within 30 days, the earnest money would be forfeited. As Mr. Akram could not make the payment within the stipulated time the amount of Rs.50000 was forfeited by John. Subsequently John sold the house in June, 2011 for Rs.2130000. He paid 2% brokerage on sale of the house. Calculate the capital gains chargeable to tax for the assessment year 2012-13. [CII-12-13:
852,11-12: 785,10-11:711]
- A. 0
- B. 1
- C. 2
- D. 3
Answer: D
NEW QUESTION 606
If a Rs. 100 par value preferred stock pays an annual dividend of Rs. 5 and comparable yields are 10 percent, the price of this preferred stock will be
- A. Rs. 75
- B. Rs. 50
- C. Rs. 25
- D. Rs. 100
Answer: B
NEW QUESTION 607
Dinesh is entitled to a basic salary of Rs. 5,000 p.m. and dearness allowance of "Rs. 1,000 per month, 40% of which forms the part of the retirement benefits. He is also entitled to HRA of Rs. 2,000 p.m. He actually pays Rs. 2,000 p.m. as rent for a house in Delhi. Compute the taxable HRA
- A. Rs. 17,520
- B. Rs. 18,000
- C. Rs. 32,400
- D. Rs. 24,000
Answer: A
NEW QUESTION 608
You are considering investing Rs 1,500 at an interest rate of 5% compounded annually for 2 years or investing the Rs1,500 at 7% per year simple interest rate for 2 years. Which option is better?
- A. Compound Interest by Rs52.75
- B. Compound Interest by Rs114.05
- C. Simple Interest by Rs75.19
- D. Simple Interest by Rs56.25
Answer: D
NEW QUESTION 609
Consider the following information:
Which of the following statements is/are true?
- A. Only III
- B. Only II
- C. Only II
- D. None of the above
Answer: B
NEW QUESTION 610
Possession of the mortgaged property is not delivered to the mortgage in ...............
- A. Balloon mortgage
- B. Simple mortgage
- C. None of the above
- D. Equitable mortgage
Answer: B
NEW QUESTION 611
Compute Geometric mean return for an investment with the following per period return - 8.9%, 10%, 7.7%,
13%?
- A. 7.75%
- B. 9.50%
- C. 8.59%
- D. 9.88%
Answer: D
NEW QUESTION 612
Asit an industrialist wants to buy a car presently costing Rs. 10,00,000/- after 5 years. The cost of the car is expected to increase by 10% pea for the first 3 years and by 6% in the remaining years. Asit wants to start a SIP with monthly contributions in HDFC Top 200 Mutual Fund. You as a CWM expect that the fund would give an average CAGR of 12% in the next 5 years. Please advise Asit the monthly SIP amount starting at the beginning of every month for the next 5 years to fulfill his goal of buying the Car he desires.
- A. 0
- B. 18614.48
- C. 20614.48
- D. 18311.71
Answer: B
NEW QUESTION 613
IFSC stands for:
- A. Inter-bank Funds Settlement code
- B. Inter-bank Financial Service Code
- C. Inter-bank Financial Sector Code
- D. None of the above
Answer: A
NEW QUESTION 614
Calculate the Net worth of Mr. Surinder Nath with the following financial details as:
- A. Rs 90.3 lakh
- B. Rs 91.3 lakh
- C. Rs 92.5 lakh
- D. Rs 90.7 lakh
Answer: B
NEW QUESTION 615
Which of the following can be a scheduled bank?
- A. All of the above
- B. Co-operative Banks
- C. Public Sector Banks
- D. Private Sector Banks
Answer: A
NEW QUESTION 616
Cash Flow is a tool that is more useful for
- A. It is period agnostic
- B. Short period financial analysis
- C. Long period financial analysis
- D. None of the above
Answer: B
NEW QUESTION 617
Under the Payment of Gratuity Act, 1972, where the employee employed in a seasonal establishment is deemed to be in continuous service for such period if he actually worked for not less than __________% of the number of days on which the such establishment was in operation during such period.
- A. 60%
- B. 50%
- C. 70%
- D. 75%
Answer: D
NEW QUESTION 618
Shri Ganjarwala Charitable Trust (Regd.) submits the particulars of its income/outgoing for the previous year
2009-2010 as below:
The trust spends Rs 2,77,500 during the previous year 2009-2010 for charitable purposes. In respect of Rs
5,20,000, it has exercised its option to spend it within the permissible time-limit in the year of receipt or in the year, immediately following the year of receipt.
The trust spends Rs 2,00,000 during the previous year 2009-2010 and Rs 1,00,000 during the previous year
2010-2011.
Compute the tax payable on the income of the trust.
- A. 0
- B. 1
- C. 2
- D. 3
Answer: D
NEW QUESTION 619
When cash flows occur at the beginning of each period, it is called as ___________
- A. Annuity due
- B. Annuity in arrear
- C. None of the above
- D. Ordinary annuity
Answer: A
NEW QUESTION 620
The portfolio manager adds new stock to a portfolio. The stock has the same standard deviation as the existing portfolio but a correlation of coefficient with the existing portfolio that is less than +1.What effect will adding the new stock have on standard of the revised portfolio?
- A. The standard deviation will be unaffected
- B. Impossible to say without more information
- C. The standard deviation will increase
- D. The standard deviation will decrease
Answer: D
NEW QUESTION 621
Any property inherited by a female Hindu from her husband or from her father in law, in the absence of any son or daughter of the deceased shall go to.....
- A. Heir of Sister
- B. Heir of father
- C. Heir of Husband
- D. Heir of mother
Answer: C
NEW QUESTION 622
IMF has _____ directors
- A. 0
- B. 1
- C. 2
- D. 3
Answer: D
NEW QUESTION 623
Government has changed certain industries related regulation in Parliament, it is an example of:
- A. None of the above
- B. Market risk
- C. Political risk
- D. Interest rate risk
Answer: C
NEW QUESTION 624
According to the capital asset pricing model, the expected rate of return on any security is equal to
__________.
- A. (the risk-free rate) + [(variance of the security's return) x (market risk premium)]
- B. (the risk-free rate) + [(security's beta) x (market risk premium)]
- C. (market rate of return) + (the risk-free rate)]
- D. [(the risk-free rate) + (beta of the security)] x (market risk premium)
Answer: B
NEW QUESTION 625
Mahesh earns 1,20,000 pa. He has total debt of Rs. 2,00,000 and have two dependants. Interest rate is 7%, and assumes 80% of his pre-death salary is the estimated requirement to maintain his family after paying the loan.
Calculate the life insurance cover needed under multiple approach method.
- A. 16 lakhs
- B. 12 lakhs
- C. 18 lakhs
- D. 15 lakhs
Answer: A
NEW QUESTION 626
Which of the following is not true in respect of the conditions essential for taxing income under the head income from House Property?
- A. The assessed may or may not be the owner of such house property
- B. The property must consist of buildings and land appurtenant there to
- C. None of the above
- D. The property may be used for any purpose, but it should not be used by the owner for the purpose of any business or profession carried on him, the profits of which are chargeable to tax.
Answer: A
NEW QUESTION 627
Which of the following measure is most widely used as an indicator of inflation?
- A. CPI
- B. GDP
- C. GDP implicit price deflator
- D. WPI
Answer: D
NEW QUESTION 628
You want to take a trip overseas which costs Rs. 10 lacs. The cost is expected to remain unchanged in nominal terms. You can save annually Rs. 50000 to fulfill the desire. How long will you have to wait if your savings earn an interest rate of 12%?
- A. 10.99 years
- B. 10.79 years
- C. 11.23 years
- D. 11.00 years
Answer: B
NEW QUESTION 629
Which of the following can be described as involving direct finance?
- A. A corporation's stock is traded in an over-the-counter market.
- B. A pension fund manager buys commercial paper from the issuing corporation.
- C. A corporation buys commercial paper issued by another corporation.
- D. Both (B) and (C) of the above.
Answer: D
NEW QUESTION 630
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