Attempt IFSCA Grade A Phase 1 Paper 1 Practice Quiz & Download PDF

1. Which body oversees the regulation of financial services in International Financial Services Centres (IFSCs) in India, including banking, insurance, and capital market activities?

2. India’s first International Financial Services Centre is located in which city?

3. The Sustainable Development Goals (SDGs) were adopted by the United Nations in which year, succeeding the Millennium Development Goals?

4. Which index measures price changes at the wholesale level in India, reflecting inflation in raw materials and intermediate goods?

5. Under the Pradhan Mantri Jan Dhan Yojana (PMJDY), what is the overdraft facility available to account holders after satisfactory operation for 6 months?

6. The concept of ‘Inclusive Growth’ in India’s economic policy primarily focuses on:

7. India’s Insolvency and Bankruptcy Code (IBC), 2016 was enacted primarily to:

8. The Goods and Services Tax (GST) in India was implemented from which date?

9. The Basel III framework, implemented by the Basel Committee on Banking Supervision, primarily aims to:

10. Which organisation publishes the ‘World Economic Outlook’ report that provides analysis and forecasts of the global economy?

11. Study the following information carefully. Ten people A, B, C, D, E, F, G, H, I, J sit in two parallel rows of 5 each. Row 1 faces North and Row 2 faces South. People in Row 1 face people in Row 2. A sits in Row 1. B sits at one of the extreme ends of Row 2 and faces D. C sits second to the right of A. E is an immediate neighbour of B and does not sit at an extreme end. F is in Row 2, two places to the left of E. G faces C and is not adjacent to F. H is in Row 1, to the immediate left of D’s neighbour’s neighbour. I faces B. J is in Row 2 and is between F and G. If D sits third from the right in Row 1, who sits at the extreme left of Row 2?

12. In a coded language, if ‘DERIVATIVES’ is coded as ‘EFSUJWBUJWFT’ and ‘PORTFOLIO’ is coded as ‘QPSUPMJP’, then decode the message ‘TBWJOHT BDDPVOU JOUFSFTU’ and find the actual financial term it represents.

13. Eight members of a family – P, Q, R, S, T, U, V, W – span four generations. P is the maternal grandmother of V. Q is the paternal grandfather of V. R is married to P. T is married to S. U is the sister of V. S is the daughter of Q and has only one sibling who is male. W is married to Q. T is the father of V and U. R is not the father of S. How is R related to T?

14. Read the passage and answer: A task force has been constituted with members from departments Finance (F), Technology (T), Operations (O), HR (H), and Legal (L). The task force must have at least 2 members from Finance. No two members from Legal can be together. Technology must have more members than Operations. HR can only join if Finance has exactly 3 members. The total size of the task force is exactly 7. Finance has 4 eligible members, Technology has 3, Operations has 2, HR has 3, and Legal has 4. How many valid compositions of the task force are possible where Finance contributes exactly 3 members?

15. Statements: Some bonds are equities. All equities are derivatives. No derivative is a commodity. Some commodities are currencies. All currencies are assets. Conclusions: I. No bond is a commodity. II. Some assets are not equities. III. All derivatives being assets is a possibility. IV. Some currencies are derivatives is a possibility. V. No equity is a currency.

16. Rearrange the following sentences to form a coherent paragraph: A. This has led to concerns about data privacy and misuse of personal information. B. Fintech companies collect vast amounts of data from their users. C. However, the regulatory framework governing data protection in the financial sector is still evolving. D. This data is used to personalise services and assess creditworthiness. E. Stronger regulations are needed to protect consumers while still fostering innovation.

17. Rearrange the following sentences: A. The Securities and Exchange Board of India was established to protect investor interests. B. Over the years, SEBI has been granted more powers to regulate and penalise errant entities. C. It also aims to promote the development of the securities market. D. The regulator issues guidelines, regulations, and circulars to govern market participants. E. SEBI has thus become a cornerstone of investor confidence in Indian markets.

18. In the sentence below, identify which of the bolded words should be swapped to make it grammatically and contextually correct: ‘The committee has (a) accept the (b) revised proposal after extensive (c) deliberations and (d) issued a formal approval.’

19. Fill in the blank with the most appropriate word: The central bank’s decision to _______ interest rates was aimed at curbing inflation without _______ economic growth.

20. Fill in the blanks: The new _______ policy mandates that all listed companies must _______ their financial statements within 60 days of the end of each quarter.

21. Identify the error in the following sentence: ‘The board of directors have decided to (A) / declares a dividend of (B) / Rs. 5 per share for (C) / the financial year 2023-24. (D)’

22. Identify the error: ‘Neither the Managing Director nor (A) / the board members was (B) / present at the extraordinary (C) / general meeting held yesterday. (D)’

23. Choose the correct meaning of the idiom: ‘A stone’s throw away’

24. Choose the word most similar in meaning to ‘Insolvent’:

25. In the following passage, each blank has a number. Choose the most appropriate word for blank (18): The global financial crisis of 2008 _______(18)_______ the vulnerabilities in the banking system, exposing the risks of excessive leverage and inadequate regulation.

26. A fruit seller has apples, mangoes, and oranges. The number of apples is a perfect square, mangoes is a perfect cube, and oranges is a perfect fourth power. The total number of fruits is between 100 and 200. The number of apples exceeds the number of mangoes by more than 20 but less than 40. The number of oranges is a two-digit number. If the HCF of the number of mangoes and oranges is 4, find the exact total number of fruits.

27. A company’s revenue in the first year was Rs. 5,00,000. Revenue grew at 20% per year for the first 3 years, then declined at 10% per year for the next 2 years, and then grew at 15% per year for 2 more years. A new investor bought shares and is entitled to 8% of the company’s revenue in the year in which the revenue first exceeds Rs. 10,00,000. In which year does this occur and what is the investor’s income?

28. A square piece of paper of side 24 cm is folded once along the diagonal to form a triangle, then folded again to form a smaller triangle. A circular hole of radius 1 cm is punched at the exact centroid of the folded shape. When the paper is completely unfolded, how many circular holes appear and what is the total area of all the holes?

29. A man rows upstream from A to B (distance = 18 km) and then downstream from B to a point C, which is 30 km from B. The total time taken is 7.5 hours. If his rowing speed in still water is 8 km/h and the stream speed is 2 km/h, but he also experiences an additional resistance of 1 km/h for every 10 km travelled upstream (cumulative), what is the actual time taken for the upstream journey?

30. A committee of 6 is to be formed from 8 men and 5 women such that the committee has at least 2 women. Among the women, two specific women P and Q refuse to serve together. Among the men, three specific men X, Y, Z refuse to all three be on the same committee. How many valid committees can be formed?