Finance Quiz
Practice quiz on Finance (General Awareness). 10 exam-style questions with explanations.
About This Quiz
Finance Quiz — Questions with Solutions
All 10 questions from this quiz with the correct answer and explanation. Attempt them yourself first, then open each solution to check your reasoning.
Q1.The financial year in India runs from
- A.1 January to 31 December
- B.1 July to 30 June
- C.1 October to 30 September
- D.1 April to 31 March
Show answer
Answer: D. 1 April to 31 March
April-March.
Q2.GST stands for
- A.Goods and Sales Tax
- B.Government Service Tax
- C.General Sales Tax
- D.Goods and Services Tax
Show answer
Answer: D. Goods and Services Tax
GST.
Q3.Which body presents the Union Budget?
- A.NITI Aayog
- B.Finance Ministry
- C.SEBI
- D.RBI
Show answer
Answer: B. Finance Ministry
Ministry of Finance.
Q4.Fiscal deficit is
- A.Total expenditure minus total receipts (excluding borrowings)
- B.Revenue minus expenditure only
- C.Taxes minus subsidies
- D.Exports minus imports
Show answer
Answer: A. Total expenditure minus total receipts (excluding borrowings)
Borrowing requirement.
Q5.Direct tax is
- A.Excise duty
- B.Customs duty
- C.GST
- D.Income tax
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Answer: D. Income tax
Income tax.
Q6.The currency of India is issued by
- A.RBI (notes) and Government (coins)
- B.SEBI
- C.NABARD
- D.SBI only
Show answer
Answer: A. RBI (notes) and Government (coins)
RBI issues notes (except Re 1).
Q7.PAN stands for
- A.Personal Account Number
- B.Permanent Account Number
- C.Primary Account Name
- D.Public Account Number
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Answer: B. Permanent Account Number
PAN.
Q8.Who regulates insurance in India?
- A.RBI
- B.SEBI
- C.IRDAI
- D.NABARD
Show answer
Answer: C. IRDAI
IRDAI.
Q9.The Finance Commission is constituted every
- A.10 years
- B.5 years
- C.3 years
- D.1 year
Show answer
Answer: B. 5 years
Every 5 years (Article 280).
Q10.GDP stands for
- A.Gross Domestic Product
- B.General Domestic Price
- C.Great Domestic Product
- D.Gross Development Plan
Show answer
Answer: A. Gross Domestic Product
GDP.
Frequently Asked Questions
Is Finance Quiz free to attempt on AajExam?
Yes. Finance Quiz is completely free. You only need a free AajExam account to track your score, view detailed solutions and unlock cross-attempt analytics.
How long does it take to complete Finance Quiz?
Finance Quiz runs on a 10-minute timer in real exam-style conditions. The clock starts the moment you click Start, mirroring the time pressure of the actual exam.
Are detailed solutions provided?
Yes. Every question on Finance Quiz ships with a complete step-by-step solution, the underlying concept, and (where applicable) shortcut tricks. You can also discuss any question with the AajExam community.
Can I attempt Finance Quiz multiple times?
Yes. You can attempt this quiz as many times as you like. Each attempt is recorded separately so you can track improvement in score, accuracy and time-management.
Which government exams does this quiz prepare me for?
Finance questions appear regularly in SSC CGL, CHSL, MTS, GD; IBPS PO, Clerk; SBI PO, Clerk; RRB NTPC, Group D; UPSC prelims and most State PSC exams. The specific weightage varies by exam — check the exam pattern on the corresponding AajExam exam page for details.