FINAL ANSWER KEY
Paper: Principles of Co-operation and the Co-operative Societies Act and Rules - II PAPER
Medium of Question: English
Date of Examination 11-03-2019
Question1:-In which category, the subject “Co-operative Societies” is included in the Constitution.
A:-Central List
B:-State List
C:-Concurrent List
D:-None of the above
Correct Answer:- Option-B
Question2:-Who is known as the Father of Co-operative Movement?
A:-Robert Owen
B:-Frederic Nicolson
C:-Raiffeisen
D:-None of these
Correct Answer:- Option-A
Question3:-The final authority of a society is vested in
A:-Government
B:-Managing Committee
C:-General Body
D:-Registrar
Correct Answer:- Option-C
Question4:-Consortium Lending Scheme was framed under Section ____________ of KCS Act.
A:-56A
B:-57A
C:-57B
D:-57C
Correct Answer:- Option-D
Question5:-The Government have the right to nominate __________ persons to the committee of an assisted apex or central society. A:-Not more than 2 persons
B:-Not more than 3 persons
C:-Only 2 persons
D:-Only 3 persons
Correct Answer:- Option-A
Question6:-Registrar of Co-operative Societies can appoint an administrator in a society, if the committee fails to hold its regular meeting consecutively for ___ A:-3
B:-4
C:-5
D:-6
Correct Answer:- Option-D
Question7:-A special charge on movable/immovable property in favour of a bank by a mere declaration in writing by the borrower. A:-Mortgage Deed
B:-Gehan
C:-Encumbrance Certificate
D:-None of the above
Correct Answer:- Option-B
Question8:-The minimum number of members whose presence is necessary to constitute the quorum of a committee of a primary society. A:-6
B:-10
C:-7
D:-8
Correct Answer:- Option-C
Question9:-The year declared as “International Year of Co-operatives” by UN.
A:-2010
B:-2012
C:-2015
D:-2000
Correct Answer:- Option-B
Question10:-Vigilance Officer is appointed under Section ___________ KCS Act.
A:-68A
B:-57A
C:-57B
D:-57C
Correct Answer:- Option-A
Question11:-How much amount is retained as Co-operative Member Relief Fund from the net profit of a society?
A:-15%
B:-5%
C:-10%
D:-7%
Correct Answer:- Option-C
Question12:-The liquidator shall complete the winding up proceedings within a period of ________ from the date of his appointment. A:-5 years
B:-10 years
C:-15 years
D:-3 years
Correct Answer:- Option-D
Question13:-The thing which was not sold in the Store run by Rochdale Pioneers
A:-Butter
B:-Wheat
C:-Candles
D:-Sugar
Correct Answer:- Option-B
Question14:-“Each for all and all for each” principle was introduced by
A:-Robert Owen
B:-Raiffeisen
C:-Frederic Nicolson
D:-None of these
Correct Answer:- Option-B
Question15:-The motto of Co-operatives
A:-Profit
B:-Dividen
C:-Service
D:-All of the above
Correct Answer:- Option-C
Question16:-The Scheme framed for the establishment and management of a fund which is utilized for the employees of the society A:-Kerala Co-operative Employees Welfare Scheme
B:-Kerala Co-operative Risk Fund Scheme
C:-Deposit Guarantee Scheme
D:-None of the above
Correct Answer:- Option-A
Question17:-The Tribunal shall pass an order to an appeal within ____________.
A:-one month
B:-3 months
C:-one year
D:-6 months
Correct Answer:- Option-D
Question18:-The Vigilance officer is appointed by the
A:-Registrar
B:-Government
C:-DGP
D:-IG
Correct Answer:- Option-B
Question19:-Co-operative Arbitration Court deals with
A:-non-monetary disputes
B:-monetary disputes
C:-both of the above
D:-none of the above
Correct Answer:- Option-A
Question20:-Registrar may order for winding up a society which has not commenced working within _________ of registration. A:-3 months
B:-9 months
C:-6 months
D:-12 months
Correct Answer:- Option-C
Question21:-All PACs may open branches in their area of operation with the prior permission of ___________. A:-General Body
B:-Government
C:-Managing Committee
D:-Registrar
Correct Answer:- Option-D
Question22:-Every co-operative society shall establish a library as per __________ of KCS Act.
A:-74G
B:-74D
C:-74F
D:-74C
Correct Answer:- Option-A
Question23:-The creation of State Bank of India was the recommendation of
A:-Sivaraman Committee
B:-Swaminathan Committee
C:-Gorwala Committee
D:-None of the above
Correct Answer:- Option-C
Question24:-Amalgamation of Banks was recommended by
A:-Rural Credit Survey Committee
B:-CRAFICARD Committee
C:-Committee on Co-op Credit
D:-Rural Credit Review Committee
Correct Answer:- Option-D
Question25:-The Chairman of the committee appointed to examine the existing arrangement for the supply of the tuccavi loans to farmers. A:-M.S. Swaminathan
B:-A.D. Gorwala
C:-Sri.B.P. Patel
D:-Sir Edward Law
Correct Answer:- Option-C
Question26:-__________ considered as the birth place of Co-operative Movement of the World.
A:-Britain
B:-Germany
C:-Russia
D:-Denmark
Correct Answer:- Option-A
Question27:-_________ is the product of economic and social condition created by Industrial Revolution – Co-operative Movement. A:-Capital Movement
B:-Co-operative Movement
C:-Credit Movement
D:-None of the above
Correct Answer:- Option-B
Question28:-The Collective farming system adopted by Russian agriculturists is known as
A:-Surkozy
B:-MTS
C:-Kolkoz
D:-All of the above
Correct Answer:- Option-C
Question29:-Mutual Aided Co-operative Societies Act was enacted in the state of
A:-Tamil Nadu
B:-Maharashtra
C:-Karnataka
D:-Andhra Pradesh
Correct Answer:- Option-D
Question30:-The number of principles of Co-operation enunciated by Rochdale Pioneers.
A:-5
B:-6
C:-7
D:-8
Correct Answer:- Option-D
Question31:-__________ is termed as “State within the State”.
A:-Socialism
B:-Co-operation
C:-Communism
D:-All of the above
Correct Answer:- Option-B
Question32:-The restriction of unlimited liability was amended in
A:-1912
B:-1934
C:-1905
D:-1969
Correct Answer:- Option-A
Question33:-The Consumer Co-operatives in India are taken from the model of co-operatives of __________. A:-Germany
B:-Russia
C:-England
D:-Italy
Correct Answer:- Option-C
Question34:-The fund utilized by an apex society for purchasing shares in other Society.
A:-Principal State Partnership Fund
B:-Member Relief Fund
C:-Welfare Fund
D:-None of the above
Correct Answer:- Option-A
Question35:-The provision in the KCS Act dealing with the power of Registrar to give Direction. A:-Section 68A
B:-Section 67A
C:-Section 69A
D:-Section 66A
Correct Answer:- Option-D
Question36:-Disputes filed under Section 69(1) shall be finalized within
A:-6 months
B:-12 months
C:-3 months
D:-None of the above
Correct Answer:- Option-B
Question37:-The penalty amount for not enrolling in Deposit Guarantee Scheme
A:-Rs. 3,000/-
B:-Rs. 5,000/-
C:-Rs. 1,000/-
D:-Rs. 2,000/-
Correct Answer:- Option-B
Question38:-The term of office of Co-operative Ombudsman
A:-3 years or attaining 65 years whichever is earlier
B:-5 years or attaining 65 years whichever is earlier
C:-3 years of attaining 56 years whichever is later
D:-5 years or attaining 56 years whichever is later
Correct Answer:- Option-A
Question39:-Application for revitalization of a society ordered for liquidation should be submitted within _________. A:-Two years
B:-Five years
C:-One year
D:-Three years
Correct Answer:- Option-C
Question40:-The power to write off agricultural or non-agricultural debts of borrowers of a society is vested in _________. A:-General Body
B:-Registrar
C:-Government
D:-None of the above
Correct Answer:- Option-B
Question41:-Special provisions under Chapter XB is not applicable to a society which is working on _________.
A:-loss for a continuous period of 2 years
B:-loss for a continuous period of 3 years
C:-loss for a continuous period of 4 years
D:-loss for a continuous period of 5 years
Correct Answer:- Option-D
Question42:-Revision by Tribunal is incorporated as per Section __________ of KCS Act.
A:-84
B:-82
C:-80
D:-85
Correct Answer:- Option-A
Question43:-Co-operative Propaganda is carried out by
A:-Circle Co-operative Union
B:-State Co-operative Union
C:-Government
D:-All of the above
Correct Answer:- Option-B
Question44:-The Board constituted for implementing the welfare schemes of the employees in a co-operative Society:
A:-Kerala State Co-op Employees’ Welfare Fund Board
B:-Kerala State Co-op Employees’ Pension Board
C:-Kerala State Co-op Employees’ Welfare Board
D:-All of the above
Correct Answer:- Option-C
Question45:-The Committee of a society may appoint persons who are professionally or technically qualified to posts requiring technical or professional qualifica A:-Contract or deputation basis
B:-Contract or daily wages
C:-Permanently
D:-All of the above
Correct Answer:- Option-A
Question46:-A Co-operative Society is affiliated to SCU as per the provisions of Section _________ KCS Act.
A:-95
B:-90
C:-92
D:-97
Correct Answer:- Option-B
Question47:-The penalty to be paid by a person carrying on any trade or business without obtaining the sanction of Govt. A:-Rs. 5,000/-
B:-Rs. 3,000/-
C:-Rs. 2,000/-
D:-Rs. 10,000/-
Correct Answer:- Option-C
Question48:-Appointment of officer on failure to constitute the CCU is done as per the provisions of _________ KCS Act. A:-Section 88B
B:-Section 87A
C:-Section 89B
D:-Section 88A
Correct Answer:- Option-A
Question49:-If an employee of a society misappropriate any money belonging to the society he shall be punishable with imprisonment for a term of _________ A:-5 years
B:-2 years
C:-10 years
D:-3 years
Correct Answer:- Option-D
Question50:-The power to exempt societies from any provision of KCS Act is vested in Govt as per the provisions of Section __________ KCS Act. A:-100
B:-101
C:-102
D:-103
Correct Answer:- Option-B
Question51:-The remuneration paid by RBI to the accredited banks for conducting State transaction.
A:-Bank Commission
B:-Government Commission
C:-Agency Commission
D:-None of the above
Correct Answer:- Option-C
Question52:-The full form of CIN in banking.
A:-Cheque Identification Number
B:-Customer Identification Number
C:-Caller Identification Number
D:-Challan Identification Number
Correct Answer:- Option-D
Question53:-The order issued by the Court under Order 21, Rule 46 of CPC, 1908.
A:-Garnishee order
B:-Customer order
C:-Civil order
D:-All of the above
Correct Answer:- Option-A
Question54:-The institution formed for safeguarding the interests of the society against any loss or damage to their assets A:-Co-operative Development Welfare Fund
B:-Co-operative Development Pension Fund
C:-Co-operative Deposit Guarantee Fund
D:-None of the above
Correct Answer:- Option-A
Question55:-Pension Scheme is established as per the provision of Section __________ of KCS Act.
A:-70A
B:-80A
C:-86A
D:-90A
Correct Answer:- Option-B
Question56:-Co-operative Service Examination Board is constituted for conducting written examination for all direct recruitment to the posts of ___________ i A:-the category of Junior Clerks only
B:-below the category of Junior Clerks
C:-of and above the category of Junior Clerks
D:-none of these
Correct Answer:- Option-C
Question57:-The establishment of Nabard was recommended by
A:-Rural Credit Survey Committee
B:-Committee on Co-op Credit
C:-Rural Credit Review Committee
D:-CRAFICARD Committee
Correct Answer:- Option-D
Question58:-The Secretary of Circle Co-operative Union
A:-Joint Registrar (General)
B:-Assistant Director
C:-Assistant Registrar (General)
D:-Joint Director
Correct Answer:- Option-C
Question59:-Name the essential principle approved by ICA in 1934.
A:-Cash trading
B:-Democratic Control
C:-Promotion of education
D:-Selling pure and unadulterated goods
Correct Answer:- Option-B
Question60:-The system introduced for collection, accounting and reporting of the receipts and payments of direct taxes online through a network of bank bran A:-BTAS
B:-DTAS
C:-OLTAS
D:-All of the above
Correct Answer:- Option-C
Question61:-Who founded the monthly periodical on Co-operative Movement?
A:-Raiffeisen
B:-William King
C:-Frederic Nicolson
D:-None of these
Correct Answer:- Option-B
Question62:-Rochdale Society of Equitable Pioneers was a society of __________.
A:-10 tailors
B:-10 farmers
C:-10 sailors
D:-10 weavers
Correct Answer:- Option-D
Question63:-“Society can be reformed only by the destruction of private property” — Whose words is this.
A:-Tolstoy
B:-Karl Marx
C:-Lenin
D:-None of the above
Correct Answer:- Option-B
Question64:-The existing Co-operative Principles are approved by ICA in __________.
A:-1996
B:-1921
C:-1995
D:-2006
Correct Answer:- Option-C
Question65:-A customer is said to have died intestate when
A:-He has left a will
B:-He dies without a will
C:-He has left a probate
D:-Anyone of these
Correct Answer:- Option-B
Question66:-The validity of the cheque will not be affected by the death of the
A:-Endorser
B:-Drawer
C:-Cheque holder
D:-In all cases the cheque loses its validity
Correct Answer:- Option-A
Question67:-The nation which is not represented in the Commission appointed by ICA in 1964
A:-UK
B:-USSR
C:-Denmark
D:-India
Correct Answer:- Option-C
Question68:-In capitalism, __________ has a pivotal role to play in the business.
A:-Share
B:-Profit
C:-Owner
D:-Capital
Correct Answer:- Option-D
Question69:-“Mere growth of co-operation is identical with socialism” Whose words is this.
A:-Edward Law
B:-Maclagan
C:-Frederic Nicholson
D:-Lennin
Correct Answer:- Option-D
Question70:-Customer get the benefit of withdrawal of funds from the bank on a ___________ basis.
A:-T + 1 basis
B:-T + 2 basis
C:-T + 1/2 basis
D:-None of the above
Correct Answer:- Option-C
Question71:-The ex-officio members included in the Circle Co-operative Union
A:-Assistant Registrar (General and Audit)
B:-Joint Registrar (General and Audit)
C:-Joint Registrar (General) and Assistant Registrar (General)
D:-Joint Director and Assistant Director
Correct Answer:- Option-A
Question72:-The person appointed as Co-operative Tribunal
A:-is holding the post of a District Judge
B:-has been holding the post of District Judge
C:-is and has been holding the post of District Judge
D:-is or has been holding the post of a District Judge
Correct Answer:- Option-D
Question73:-Every society shall have an address registered in accordance with the rules is as per the provisions of Section ___________ of KCS Act. A:-94
B:-96
C:-95
D:-97
Correct Answer:- Option-B
Question74:-Person collecting share money for a society in formation should deposit the same in a bank approved by Registrar within ___________ of its recei A:-14 days
B:-15 days
C:-20 days
D:-None of the above
Correct Answer:- Option-A
Question75:-Co-op Member Relief Fund is constituted as per Section __________ of KCS Act.
A:-56(1)(b)
B:-56(1)(c)
C:-56(2)(c)
D:-56(1)(a)
Correct Answer:- Option-B
Question76:-Application for registration of a society shall be made in __________.
A:-duplicate in Form 1
B:-triplicate in Form 1
C:-duplicate in Form 2
D:-triplicate in Form 2
Correct Answer:- Option-A
Question77:-Social Welfare Societies are registered as per the provisions of ___________ KCS Act.
A:-Rule 15 12(3)
B:-Rule 15 12(2)
C:-Rule 15 12(1)
D:-None of the above
Correct Answer:- Option-C
Question78:-Rule in Clayton’s care pertains to
A:-Payment of cheques in clearing
B:-Settlement of dues between the bank and the guarantor
C:-Banker’s general lien
D:-Appropriation of payments in a running account
Correct Answer:- Option-D
Question79:-____________ alone has the power to organize and conduct production is a feature of a socialist economy. A:-State Government
B:-Central Government
C:-Common People
D:-All of the above
Correct Answer:- Option-A
Question80:-The fund established to acquire land in Palestine is known as
A:-Palestine National Fund
B:-Jewish National Fund
C:-Israel National Fund
D:-None of these
Correct Answer:- Option-B
Question81:-Who is known as the “Raiffeisen of Italy”?
A:-William King
B:-Franz Schulze
C:-Luzzatti
D:-Dr. Wollemburg
Correct Answer:- Option-D
Question82:-The ‘Central Act – Multi Unit Co-operative Societies’ Act was enacted in
A:-1905
B:-1912
C:-1942
D:-1945
Correct Answer:- Option-C
Question83:-Deposit mobilization is to be taken by PACs is recommended by
A:-Rural Credit Survey Committee
B:-Rural Credit Review Committee
C:-Committee on Co-op Credit
D:-CRAFICARD Committee
Correct Answer:- Option-D
Question84:-The initial share capital of Rochdale Pioneers
A:-20 Pounds
B:-25 Pounds
C:-28 Pounds
D:-30 Pounds
Correct Answer:- Option-C
Question85:-The place known as the “Diary Farm of Europe”
A:-Italy
B:-Britain
C:-Denmark
D:-None of the above
Correct Answer:- Option-C
Question86:-The bank which distributed a larger portion of net profit as dividend among members
A:-Schulze banks
B:-Bacon Banks
C:-Luzzatti Banks
D:-Village Banks
Correct Answer:- Option-A
Question87:-Participation of Government in the share capital of Co-operatives is the recommendation of
A:-Swaminathan Committee
B:-CRAFICARD Committee
C:-Gorwala Committee
D:-Karve Committee
Correct Answer:- Option-C
Question88:-Rule to incorporate provisions for defaulters to be disqualified from continuing in Board of Directors is the recommendation of: A:-Rural Credit Survey Committee
B:-Committee on Co-op Credit
C:-CRAFICARD Committee
D:-Rural Credit Review Committee
Correct Answer:- Option-D
Question89:-Who started the “Friendly Society of Shoe maker”?
A:-Franz Schulze
B:-William King
C:-Luzzatti
D:-Dr. Wollemburg
Correct Answer:- Option-A
Question90:-IT attachment order is issued under Section __________ of IT Act.
A:-131
B:-222
C:-229
D:-226
Correct Answer:- Option-D
Question91:-No civil or Revenue Court shall have any jurisdiction in respect of any matter for which provision is made in KCS Act is described in Section _____ A:-101
B:-100
C:-103
D:-104
Correct Answer:- Option-B
Question92:-Every society shall commence working within a period of ____________ of its registration.
A:-2 months
B:-3 months
C:-5 months
D:-6 months
Correct Answer:- Option-D
Question93:-Posts to be reserved for the appointment of physically handicapped persons.
A:-3% of the total posts of employees
B:-3% of the particular posts
C:-5% of the total posts of employees
D:-None of the above
Correct Answer:- Option-A
Question94:-Execution decree is deemed to be a decree of a _________.
A:-Criminal Court
B:-Civil court
C:-Both of the above
D:-None of the above
Correct Answer:- Option-B
Question95:-Execution shall be made if the concerned people has failed to pay the debt within _________ from the date of issue of notice. A:-15 days
B:-20 days
C:-30 days
D:-45 days
Correct Answer:- Option-C
Question96:-__________ have the power to fix or alter the maximum and minimum limit of establishment expenses of a co-operative society. A:-General Body
B:-Managing Committee
C:-Registrar
D:-Government
Correct Answer:- Option-D
Question97:-Posts to be reserved for the appointment of SC/ST candidates.
A:-10% of the post of employees
B:-3% of the post of employees
C:-5% of the post of employees
D:-None of the above
Correct Answer:- Option-A
Question98:-Offences by companies is incorporated in Section ___________ of KCS Act.
A:-94 A
B:-96 A
C:-97 A
D:-95 A
Correct Answer:- Option-D
Question99:-Recovery shall be made within ____________ from the date of the order.
A:-12 years
B:-10 years
C:-5 years
D:-20 years
Correct Answer:- Option-A
Question100:-Banker’s lien is defined under:
A:-Sec. 58 of Banking Regulation Act
B:-Sec. 69 of NI Act
C:-Sec. 45 of RBI Act
D:-S.171 of Indian Contract Act
Correct Answer:- Option-D