General AwarenessFinancemixed

Finance Quiz

Practice quiz on Finance (General Knowledge / Current Affairs). 10 exam-style questions with explanations.

10
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10
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About This Quiz

Practice quiz on Finance (General Knowledge / Current Affairs). 10 exam-style questions with explanations. Finance Quiz is a free, 10-minute, 10-mark practice quiz on AajExam rated at mixed difficulty, designed to help candidates preparing for SSC, UPSC, Banking, Railway and State PSC government competitive exams sharpen their command of Finance (General Awareness). Every question on this quiz ships with a detailed step-by-step solution so you don't just learn the right answer — you learn the reasoning and shortcuts top scorers use to crack similar questions faster on the actual exam day. Why Finance Quiz matters in your preparation: government exam-conducting bodies repeatedly draw questions from the same chapters and the same skill-clusters across recruitment cycles. By attempting focused topic-wise quizzes like this one, you build pattern recognition — the ability to spot which formula, rule or trick applies the moment you see a question. Toppers consistently report that 5-10 quizzes on a single topic delivers more exam-day score gain than 20+ unfocused full-length mocks, because targeted drilling exposes your specific sub-topic weaknesses with surgical precision. How to use this quiz effectively: attempt it in one sitting under the 10-minute timer, without referring to notes or external resources — simulate exam-day conditions exactly. After submission, review the auto-generated analytics to see your accuracy, time per question and section-wise performance. Then go through every wrong and skipped question with the explanation, mentally tagging the underlying concept rather than just memorising the answer. Revisit this quiz after 7-10 days; your second attempt should be 15-20% faster with noticeably better accuracy. After mastering this quiz, explore the 1 related quizzes linked below to broaden your topic coverage. AajExam quiz design principles: every quiz on the platform is curated by subject experts using the actual question formats, difficulty distributions and time pressures of the target government exams. We deliberately avoid generic "textbook" questions in favour of exam-replicating ones. Solutions are written in plain English (and Hindi where source material was bilingual), with step-by-step working for quantitative problems, grammar rules for English questions, and direct reference statements for general awareness items. Performance analytics after each attempt include accuracy, attempt rate, time spent per question, and an estimated all-India percentile so you know exactly where you stand against other candidates. This quiz is completely free to attempt. You only need a free AajExam account to track your performance across attempts, view detailed solutions and unlock the platform-wide analytics dashboard. The platform is mobile-friendly and works seamlessly on smartphones, tablets and desktops — so you can sharpen your Finance (General Awareness) skills in any spare 15-minute window.
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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.

  1. Q1.The financial year in India runs from

    • A.1 January to 31 December
    • B.1 October to 30 September
    • C.1 July to 30 June
    • D.1 April to 31 March
    Show answer

    Answer: D. 1 April to 31 March

    April-March.

  2. Q2.GST stands for

    • A.Government Service Tax
    • B.Goods and Sales Tax
    • C.Goods and Services Tax
    • D.General Sales Tax
    Show answer

    Answer: C. Goods and Services Tax

    GST.

  3. Q3.Which body presents the Union Budget?

    • A.NITI Aayog
    • B.Finance Ministry
    • C.RBI
    • D.SEBI
    Show answer

    Answer: B. Finance Ministry

    Ministry of Finance.

  4. Q4.Fiscal deficit is

    • A.Total expenditure minus total receipts (excluding borrowings)
    • B.Revenue minus expenditure only
    • C.Exports minus imports
    • D.Taxes minus subsidies
    Show answer

    Answer: A. Total expenditure minus total receipts (excluding borrowings)

    Borrowing requirement.

  5. Q5.Direct tax is

    • A.GST
    • B.Income tax
    • C.Excise duty
    • D.Customs duty
    Show answer

    Answer: B. Income tax

    Income tax.

  6. Q6.The currency of India is issued by

    • A.SEBI
    • B.SBI only
    • C.NABARD
    • D.RBI (notes) and Government (coins)
    Show answer

    Answer: D. RBI (notes) and Government (coins)

    RBI issues notes (except Re 1).

  7. Q7.PAN stands for

    • A.Primary Account Name
    • B.Permanent Account Number
    • C.Personal Account Number
    • D.Public Account Number
    Show answer

    Answer: B. Permanent Account Number

    PAN.

  8. Q8.Who regulates insurance in India?

    • A.IRDAI
    • B.NABARD
    • C.SEBI
    • D.RBI
    Show answer

    Answer: A. IRDAI

    IRDAI.

  9. Q9.The Finance Commission is constituted every

    • A.3 years
    • B.10 years
    • C.5 years
    • D.1 year
    Show answer

    Answer: C. 5 years

    Every 5 years (Article 280).

  10. Q10.GDP stands for

    • A.Gross Domestic Product
    • B.Great Domestic Product
    • C.General Domestic Price
    • 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.

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