Xperience Quiz

General Knowledge: (Solved Paper)

1. The International Bank for Reconstruction and Development (IBRD) is better known as
(A) World Bank
(B) Asian Development Bank
(C) IMF
(D) It is known by its name
Answer: (A)

2. When was the Reserve Bank of India established?
(A) 1935
(B) 1920
(C) 1928
(D) 1947
Answer: (A)

3. Which is the largest commercial bank in India?
(A) Reserve Bank of India
(B) State Bank of India
(C) ICICI Bank
(D) Bank of India
Answer: (B)

4. The Bank of Calcutta, Bank of Bombay and Bank of Madras were merged in 1921 to form
(A) Reserve Bank of India
(B) Imperial Bank of India
(C) Bank of India
(D) Union Bank of India
Answer: (B)

5. Which sister organization of the World Bank helps private activity in developing countries by financing projects with long-term capital in the form of equity and loans?
(A) Asian Development Bank
(B) IMF
(C) International Developmental Association
(D) International Finance Corporation
Answer: (D)

6. Which sister organization of the World Bank provides long term loans at zero interest to the poorest developing countries?
(A) Asian Development Bank
(B) IMF
(C) International Developmental Association
(D) International Finance Corporation
Answer: (C)

7. Who is known as the ‘Father of Economics’?
(A) Adam Smith
(B) Chanakya
(C) Machiavelli
(D) None of these
Answer: (A)

8. Which was the first Indian Bank to introduce credit card?
(A) State Bank of India
(B) Central Bank of India
(C) Union Bank of India
(D) ICICI
Answer: (B)

9. What does devaluation of a currency mean?
(A) decrease in the internal value of money
(B) decrease in the external value of money
(C) decrease both in the external and internal values of money
(D) none of these
Answer: (B)

10. Which of the following is known as plastic money?
(A) Bearer cheques
(B) Credit cards
(C) Demand drafts
(D) Gift cheques
Answer: (B)

11. Which of the following statements best describes the concept of involvement in the context of buyer behaviour?
(A) The length of time involved in the buying process
(B) The potential impact of a product on an individual's self-identity
(C) The number of people involved in the decision-making unit
(D) The complexity of an order
Answer: (A)

12. Buying decisions generally follow a pattern of overlapping stages. Which of the following best describes the typical stages of the buying process?
(A) Need recognition > Information search > Evaluation > Decision > Post purchase evaluation
(B) Need recognition > Evaluation > Information search > Decision > Post purchase evaluation
(C) Information search > Need recognition > Evaluation > Decision > Post purchase evaluation
(D) Need recognition > Information search > Decision > Evaluation > Post purchase evaluation
Answer: (A)

13. Needs differ from wants because:
(A) Wants are a socialized manifestation of underlying needs
(B) Needs are a socialized manifest Needs are historical; wants are about the futuretation of underlying wants
(C) Needs are historical; wants are about the future
(D) Needs and wants are exactly the same
Answer: (A)

14. Which of the following levels of Maslow's Hierarchy of Needs is most likely to be associated with consumers' purchase of goods which appeal to their inner sense of peace of mind (e.g. art classes)?
(A) Self-actualization
(B) Love
(C) Security
(D) Physiological
Answer: (A)

15. An individual is considering buying a new microwave cooker and is faced with the possibility of several models. Which of the following describes the widest range of microwave cookers, which the buyer considers in some form?
(A) The choice set
(B) The awareness set
(C) The total set
(D) The pre-evaluation set
Answer: (A)

16. A company uses The Coors to endorse its range of snack foods. This endorsement is likely to be particularly effective if the Coors are seen by large numbers of the company's target market as:
(A) A primary reference group.
(B) A tertiary reference group.
(C) A secondary reference group.
(D) A non-reference group.
Answer: (B)

17. Which of the following consumer responses is LEAST likely to overcome cognitive dissonance experienced by a consumer who is dissatisfied with their purchase?
(A) Rationalizing to ourselves that a product is actually quite good
(B) Seeing the product in a different light so that we emphasize the bad aspects of a product
(C) Seeing the product in a different light so that we emphasize the good aspects of a product
(D) Complaining and returning goods to the supplier
Answer: (A)

18. Which of the following labels is NOT associated with a role in a buying Decision Making Unit?
(A) Supplier
(B) Gatekeeper
(C) Decision maker
(D) User
Answer: (B)

19. A secretary who answers calls for a company buyer may be taking on which role within the company's decision-making unit?
(A) User
(B) Influencer
(C) Gatekeeper
(D) Buyer
Answer: (C)

20. Which of the following is NOT an element of a Marketing Information System?
(A) Marketing research
(B) Decision support system
(C) Production monitoring system
(D) None of these
Answer: (D)