SOLVED PAPER OF LDC IN KERALA-STATE APEX CO-OPERATIVE SOCIETIES (GENERAL CATEGORY) AND LDC IN HANTEX (SOCIETY CATEGORY) HELD ON 25/07/09(Category Number: 351/08, 352/08)

1. The apex body of co-operative societies in India is :
National Co-operative Union of India.

2. CAMPCO is a joint venture of Kerala and:
Karnataka

3. The Co-operative reform movement of which country formulated ‘Friendly Societies’
England

4. What is the prime objective of setting up of CAPE?
To establish new institution for professional education under Co-operative sector.

5. Who was the chairman of the task force constituted by the Finance Minister, Govt. of India in 2004 to formulate practical and implementable plan of action is rejuvenate in the rural Co-operative credit structure?
Prof. A.Vaidyanathan

6. The well known Raiffeicen rule of ‘One village one society’ was generally followed in which type of Societies?
Agricultural credit Societies

7. Central Co-operative Bank in each state organizes their federation which is called?
State Co-operative Banks

8. In Co-operative accounting the dual aspect of any transactions are denoted by :
Receipts and Payments.

9. A Co-operative Society with unlimited liability can distribute profits only with the general or special orders of :
State Government

10. As per the section 33 of the Co-operative Societies Act, 1912 the first 25% of the net profit earned during any year should be transferred to?
Reserve fund

11. Form the following which society is exempted from the payment audit fee:
(a)Social welfare Societies
(b)Farming Societies
(c) Coir Co-operative Societies
(d) The Societies, the accounts of which are audited at their cost
Ans: Coir Co-operative Societies

12. The purchase journal contains:
Credit purchase of merchandise

13. Which of the following is correct?
(a)Capital=Assets+liabilities
(b)Liabilities=Capital+Assets
(c)Liabilities=Capital+Assets
(d)Capital=Assets+Liabilities
Ans: Capital=Assets+Liabilities

14. Which of the following error will not affect the trial balance?
(a)Wrong balancing of an account
(b)Writing an amount in wrong account but on the correct side
(c)Wrong totaling of an account
(d)None of these
Ans: Writing an amount in wrong account but on the correct side

15. Which accounting concept states that every change in resources brings about equal changes in equities?
Dual aspect concept

16. On purchase of old furniture, Rs.2000 is spent for its repair should be debited to :
Furniture Account

17. Payment of liability result in :
Decrease in total asset

18. Which of the following account is a personal account?

(a)Rent Account (b) Cash Account (c) Rent outstanding account
(d)Machinery account
Ans:Rent outstanding account

19. A’s Trial Balance contains the following information:
Bad debit:Rs.2000/-
Provision for bad debt:Rs.2,500/-
It is desired to make a provision for bad debt of Rs.3,000 at the end of the year. The amount to be debited to the profit and loss amount is :

Ans:2500/-

20. B’s Capital on January, 2006:Rs.50,000.
Interest on drawing:Rs2,000
Interest on capital:Rs5,000
Drawings.Rs.20,000
Profit for the year:Rs.10,000
His capital at December 2006 is:
Ans:43,000/-

21. A Co-operative society shall be registered only with :
Limited liability

22. From the following which one is not related to the registration of Co-operative society?
(a)Promotion of economic interest of members
(b)Promotion of economic interest of the public
(c)Profit Maximization
(d)(a) and (b) together
Profit Maximization

23. According to section 74, who can cancel the registration of a society ?
Registrar

24. The first secretary of co-operative society, before its registration shall generally be appointed by :
Promoters

25. Who can dismiss a co-operative society?
Board of Directors

26. The term of office of an elected member in circle co-operative union shall be?
5 years

27. The members of the circle Co-operative union shall meet?
At least once in every month

28. A customer’s letter of instruction, without any stamp, in connection with the operations of his account is known as :
Mandate

29. The document drawn by a debtor on the creditor agreeing to pay a certain sum is called:
Promissory Note

30. The most important feature of a negotiable instrument is ?
(a)Free Transfer
(b)Transfer free from defects
(c)Right to sue
(d)(a) and (b) together
Ans:d

31. In the case of negotiable instrument the following person generally gets a good title?
(a)Finder of the lost instrument
(b)Holder of a stolen instrument
(c)Holder in due course
(d)Holder of a forged instrument
Ans: Holder in due course

32. The reasonable period allowed in India for the presentation of a cheque is :
6 months

33. The document which can be used only for local payment is ?
A banker’s cheque

34. The relationship between a banker and a customer is :
Primarily that of a Debtor and Creditor
35. The Banker has a lien of :
Bonds given for collection

36. In executing the standing instructions, there exist a relationship between banker and customer is of:
Agent and Principal

37. The following one does not constitute a settlement of account as far as a pass book is concerned:
(a) A wrong entry favourable to a customer
(b) A fictitious entry
(c) A wrong entry favourable to a banker
(d) (a) and (c) together
Ans: A fictitious entry

38. The best procedure for opening an account in the name of a minor X and the guardian Y would under the style:
Y in trust for X

39. The most undesirable customer is :
An undischarged bankrupt

40. Crossing a Cheque without the knowledge of the drawer is a case of :
Authorised alteration

41. The paying banker can get protection for a materially altered cheque provided:
(a)The alteration is not apparent
(b)He make payment in due course
(c)The alteration is immaterial
(d) (a) and (b) together
Ans:(d)

42. Not negotiable crossing is a warning to the :
Holder

43. The following one is absolutely essential for a special crossing:
(a)Two parallel Transverse line
(b)Words ‘and company’
(c)Words ‘Not Negotiable’
(d)Name of a banker
Ans: Name of a Banker

44. A cheque which is not crossed is called:
Open cheque

45. Out of the following, endorsement is not valid one:
(a)Partial endorsement
(b) Restrictive endorsement
(c)Facultative endorsement
(d)Conditional endorsement
Ans: Partial endorsement

46. State which one of the following statements is true?
(a)Marking is statutory recognized in India
(b)Marking of a cheque is similar to acceptance of a bill.
(c)Refusal to mark a cheque amount to dishonour of that cheque
(d)Marking at the request of a drawer amounts to constructive payment
Ans: (d) Marking at the request of a drawer amounts to constructive payment

47. When the amount stated in words and figures differs in a cheque, the banker:
Can honour the amount in words

48. When Garnishee Order is issued by the court attaching the account of a customer, the banker:
Garnishee

49. A collecting banker is given the statutory protection only when he act as:
An agent

50. The bankers right of set off is nothing but a :
Right to combine

51. The following one is a direct method of exchange control:
(a)Bilateral method
(b)Multilateral method
(c)Regulation of Bank rate policy
(d)Intervention
Ans: (d)Intervention

52. The rate of interest payable on various deposits is determined by the :
Reserve Bank of India

53. A Savings Bank account in the sole name of a minor can be opened provided he completed:
10 years of age

54. When amendment of bye-laws of the society shall came into force, unless it is expressed to come into operation on a particular day:
The day on which it is registered

55. Withdrawal by a member of his share in a society shall be valid:
(a)held such share for not less than three years
(b)Withdrawal is in accordance with bye-law of society
(c)Withdrawal after one year from the date of purchase
(d) (a) and (b) together
Ans: (d)

56. The final authority in a society is :
General body

57. The state co-operative election commission shall be an officer appointed by the Govt.for a period of ?
5 years

58. If a committee consist of 13 members, minimum number of members whose presence is necessary to constitute the quorum is :
7

59. The tax imposed under the provisions of the Kerala Land Tax Act.1961 is :
Basic Tax

60. The competent authority enjoy the power to sign documents on behalf of or in the name of the society:
Secretary

61. After receiving a requisition in writing from the Registrar, a special general body meeting of the society shall call such meeting with in a period of
One month

62. In case of super session of the committee of a society, there is :
No provision to give separate notice to each member

63. The fund established by Apex society with moneys received from the Govt. under section 43 of Kerala State Co-Operative Societies Act:
Principal state partnership fund

64. The appointing authority of Director of Co-operative Audit in Kerala ?
State Government

65. The home land of Co-operative store movement:
Great Britain

66. The first Consumer Co-operative society established in 1866 in?
Denmark

67. “Better farming, Better Business and Better living is the essence of a Co-operation” is said by:
Sr.Horace Plunkett

68. From the date of appointment, liquidator shall complete the winding up proceeding within a period of :
3 years

69. An agricultural syndicate is a typical Co-operative institution in :
France

70. The agency appointed by the Govt. for the conduct of written examination for all direct recruitment to posts of and above the category of junior clerks in the primary society is :
Co-operative Service Examination Board

71. In India, Co-operative legislation started in :
1904

72. Head quarters of the Kerala State Federation of Scheduled Caste and Scheduled Tribe Development Co-operative:
Thiruvananthapuram

73. Expand KERAFED:
Kerala Kera Karshalka Sahakarana Federation Ltd

74. As per Co-operative societies rule ‘Net profit’ means net profit as certified by :
The Registrar

75. The period with in which the societies shall commence working after the registration :
6 months

76. The majority required for passing resolution for amendments to the byelaw of a society shall be :
2/3rd majority

77. The payment to be made to acquire right of membership in a society shall include:
(a)Admission Fee
(b)Subscription to share capital
(c) Any other payment required to be made under the bye-law
(d)(a) (b) and (c) together
Ans: (d)

78. National Federation of State Co-operative Banks setup in :
1964

79. The application fee for obtaining certified copy of any public document form Registrar’s office shall be paid in the shape of :
Court Fee Stamps

80. Period for which Day Book of a society is to be maintained from the date of audit of accounts:
Permanent

81. The maximum term of the Managing Committee of a Co-operative Society should not exceed:
5 years

82. The multi State Co-operative societies act passed in :
2002

83. For the purpose of convenience the Head office of NABARD is divided into two departments. They are:
Inspection Department and Vikas Volunteer Vahini Department

84. The number of members in the Board of Management of NCDC is :
12

85. The constitution of National Co-operative Fund is recommended by :
All India Rural Credit Survey Committee

86. Who said “Man is a social animal”?
Aristotle

87. The present Co-operative Minister of Kerala ?
G.Sudhakaran

88. How many votes each member of a cooperative society has ?
One man one vote

89. How many persons are required to form a Farming Co-operative society?
10

90. The basic principle of co-operative organization is :
Self help and mutual help

91. Share of a co-operative society is ?
Not freely transferable

92. One of the following activities not related to the main activity of the Housing co-operative society:
(a)Purchase of land
(b)Development of Land
(c)Provide modern tools and equipments
(d)Construction of houses/flats
Ans: (c)

93. The management of the Co-operative organization vests in the hands of ?
Managing Committee

94. International Co-operative alliance was founded in the year:
1895

95. The model of the agricultural credit societies in India are :
Raiffeisen Model

96. Loans given by Primary agricultural credit societies are refinanced by :
NABARD

97. Who is the father of the Co-operative movement?
Robert Owen

98. Who was the founder of monthly periodical called “The Co-operator”?
Dr.William King

99. The head office of Kerala State Co-operative Consumer Federation is at:
Ernakulam

100. The Kerala Co-operative Milk Marketing Federation is popularly known as :
Milma