Quantitative Aptitude For Business Management 18 October Ii

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Business Quiz AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS

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Business QuizDr. T.K. Jain.

AFTERSCHO☺OLCentre for social entrepreneurship

Bikaner M: [email protected]

www.afterschool.tk, www.afterschoool.tk

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True or False:

• HM means Harmonic Mean• GM means general methods (geometric

mean)• Mode has highest frequency• There are infinite points in continuous

series• SKEWNESS has been defined to be the

level of variance


True or False?

• BPR is business process reengineering• SHG means self help group• Standard Deviation is the measurement of

variation of data• Log 100 is equal to 2• There two important tools in project

management PERT & CPM


Full forms:

• FII: foreign institutional inventors• FI: FINANCIAL INSTITUTIONS• IBRD: International Bank for

Reconstruction and development (world bank)

• IFC: International Finance Corporation• DAGMAR: defining advertising goals and

measuring result


Full forms?

• PLC: product life cycle• PLR: PRIME LENDING RATE• SLR: statutory liquidity ratio• CDMA: Core Division Multiple Access• 3G: THIRD GENERATION• WLL: wireless in local loop• PPP: purchasing power parity


Full form:

• COBOL: common business oriented language • JV: Joint Venture• IRR: Internal Rate of Return • PI: Profitability Index / Personal Interview• MCX: multi commodity exchange • IPR: intellectual property right• GATT: general agreement on trade and tariffs


Define the following:

• Consortium financing: When banks combine together to give loans, it is called consortium financing

• FACTORING: when a person takes the responsibility for debt collections

• Credit Rating: Assessment of a company’s financial position by independent companies, (ICRA,CARE etc.)


FULL FORMS

• ADR : American Depository Receipts• CDR: Crude Death Rate• LC: letter of credit


DEFINE THE FOLLOWING

• Random sampling: picking up a unit randomly from a specified (listed) units.

• Probability sampling: same as random sampling• CLUSTER SAMPLING: here we take a cluster

randomly and then intervew / collect data from each unit in that cluster

• Multi-stage sampling: We undertake sampling in different stages reducing the possibilities in each stage


Write short commands in excel:

• Save: control+S• To make a cell fixed in all calculations:

Dollar sign• Which is required in all numerical data: =• How will you change numerical data to

date : go to format, take cells, and change the property


Forumale :

• Sum of GP (geometric progression): a(r^n-1)/ (r-1)

• Present value :[ 1/ (1+r)^n] multiply with the amount


Who has given ideal method of index calculation?

• Fisher


What is difference between efficiency and effectiveness ?

• Efficiency means ratio of output to input• Effectiveness means focus on goal and

ability to achieve the goals


Difference between strategy and policy?

• Strategy is course of action to achieve goal

• Policy is a guideline for action


Difference in mission and goal?

• Mission is ultimate purpose (generally defined in terms of qualitative statement).

• Goal is time bound target (generally defined in quantitative terms).


FULL FORM:

• IRS: interest rate swaps• MMMF: money market mutual fund• SEBI: securities and exchange board of

India• TERI: The Energy Research Institute

(Delhi)• TIE: The Indus Entrepreneur• NEN: national entrepreneurship network


Fullforms:

• ISB: Indian school of business• XLRI: Xavier Labour Relation Institute • EDII: Entrepreneurship Development

Institute of India• CEE: Centre for Environment Education• UNCTAD: United Nations Conference on

Trade and Development


Where is the base of these companies:

• SAMSUNG: Korea• Excel Industries: Bhavnagar • Torrent Gujarat: AHMEDABAD• NBC: Jaipur• Instrumentation Limited: Kota



• Hypothesis: our understanding about a phenomenon before carrying out research

• Contract: agreement enforceable by law between 2 persons

• Bailment: To give some goods to some person for a short time.

• Quasi Contract: A contract between two persons (actually there is no contract / agreement) which arises out of circumstances (like lost goods).



• ABC: it is a tool of inventory management, where you classify goods in three categories. ABC also stands for activity based costing

• PROCESS COSTING: when costing method tries to record all the processes


DEFINE THE FOLLOWING:

• Zero Base Budgeting: When budget is prepared from zero base

• ALM: Asset liability management - when banks try to manage their assets and liability and strucuture them ALCO is the committee to manage ALM

• Spectrum: TRAI gives area to telecom companies in which they can operate.


Full forms:

• PLC: product life cycle• 4 C in marketing: Customer benefit,

customer cost, customer communication, customer convenience

• 3 ADDITIONAL P IN SERVICES: process, physical evidence, people


What is NPA ?

• When there is credit default, it is called NPA. If I take loan from Bank and don’t repay, it will become NPA for the bank and bank will have to take some action for this. NPA = Non performing Asset


What is EPZ?

• Export Processing Zone – it is a geographic area, where there are special facilities for exporters.


What is EOU

• Export Oriented Unit. • These are units, which have been set up

exclusively for exporting.


What is QR?

• Quantitative Restriction• When there is restriction on import, it is

called QR. Now these have been removed as per the discussions held at WTO meetings.


What is export subsidy?

• These are monetary assistance to exporters for exporting more and more. These are not permitted as WTO guidelines. India also does not give export subsidies, but there are many indirect subsidies that are given like assistance in marketing, export promotion, guarantees, export finance, export insurance etc.


What is DFEC?

• Duty Free Export Credit. • In order to promote exports, there are

many schemes to promote entrepreneurs to start export houses. One such scheme is DFEC. Served from India is also a DFEC.


In which market can we have homogenous products?

• Perfect and Oligopoly


In which markets can we have differentiated products?

• Monopolistic Competition and Oligopoly


What kind of market is there in Telecom (mobile) in India?

• Oligopoly


What kind of market is there in case of soaps?

• Monopolistic competition


What is the formulae of MR?

• MR = marginal revenue• Change in revenue / change in quantity


What is difference in outlay cost and opportunity cost?

• In outlay cost, we are actually spending some money. In opportunity cost, we are not spending any money.


If the prices increase, in which of these products, our total sales

revenue will increase?

• Salt, Rice, Car, Mobile, Wheat, Petrol, jewellery • Solution: • Salt, Rice, Wheat, Petrol are essential

commodities, so their demand is relatively inelastic. So, total revenue will increase. Jewellery is luxury goods, but here demand increases with increase in price, so demand may increase. In other cases, total revenue will decrease.


In your budget line there are three indifference curves A,B,C. A is

higher than B, and B is higher than C. Which curve will you choose for

your decisions? • A because higher indifference curve

represents higher satisfaction.


I get Sambhar Vada at Rs. 10 per piece. My utility is 30,20,10,5,4 for

successive units. What is my surplus?

• I shall use 3 units. My surplus will be (30-10) + (20-10) + (10-10) = 30 units. Answer.


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Afterschoool conducts three year integrated PGPSE (after class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society.


Why such a programme?

• To promote people to take up entrepreneurship and help develop the society

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• To enable people to take up social development as their mission

• To enable people to promote spirituality and positive thinking in the world


Who are our supporters?

• Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us.

• You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.


About AFTERSCHO☺OL PGPSE – the best programme for developing great

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Workshops from AFTERSCHO☺OL

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Components • Pedagogy curriculum and approach based on IIM Ahmedabad and ISB

Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad)• Meditation, spiritualisation, and self development • Essential softwares for business• Business plan, Research projects• Participation in conferences / seminars• Workshops on leadership, team building etc. • Written submissions of research projects/articles / papers• Interview of entrepreneurs, writing biographies of entrepreneurs• Editing of journals / newsletters• Consultancy / research projects • Assignments, communication skill workshops• Participation in conferences and seminars• Group discussions, mock interviews, self development diaryng • Mind Power Training & writing workshop (by Dr. T.K.Jain)


Pedagogy • Case analysis,• Articles from Harvard Business Review • Quiz, seminars, workshops, games, • Visits to entrepreneurs and industrial visits• Presentations, Latest audio-visuals• Group discussions and group projects• Periodic self assessment• Mentoring and counselling• Study exchange programme (with institutions out of

India)• Rural development / Social welfare projects


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• AFTERSCHO☺OL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.


Case Studies

• We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.


Basic values at AFTERSCHO☺OL

• Share to learn more• Interact to develop yourself• Fear is your worst enemy• Make mistakes to learn • Study & discuss in a group• Criticism is the healthy route to mutual support

and help • Ask fundamental questions : why, when, how &

where?• Embrace change – and compete with yourself

only


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