Management Questions and Answers for Competitive Exams | MBA BBA Quiz Set 8

Questions
1 Statement (I) : Time study is an area of study whose fundamental purpose is to set time standards for work using different methods.

Statement (II) : Work measurement is a structured process of directly observing and measuring (using a timing device) human work in order to establish the time required for completion of the work by a qualified worker when working at a defined level of performance.

Code :
1 Both the Statements are correct.
2 Both the Statements are incorrect
3 Statement (I) is correct while Statement (II) is incorrect.
4 Statement (I) is incorrect while Statement (II) is correct.

Answer: Both the Statements are incorrect.
2 In the context of distinguishing between forecasting and prediction, which one of the following statements is false ?
1 Forecasting is based on a theoretical model while prediction may be based on intuition.
2 Forecasting reflects management’s judgement after taking all available information into account; while prediction involves the projection of the past into the future.
3 Error analysis is possible in the case of forecasting while no error analysis is done in the case of prediction
4 No objectivity is found in the case of prediction.

Answer:Forecasting reflects management’s judgement after taking all available information into account; while prediction involves the projection of the past into the future.
3 An activity that consumes no time but shows precedence among activities is known as :
1 Slack activity
2 Successor activity
3 Dummy activity
4 Critical activity

Answer:Dummy activity
4 Which one of the following is not correct matching between level of facility planning and type of activity ?
1 Global level and site location and selection
2 Macro layout level and Site planning
3 Micro layout level and Cell design
4 Sub - Micro layout level and work station and Cell design

Answer:Micro layout level and Cell design
5 Which one of the following statements is false ?
1 Sample space refers to the collection of all favourable outcomes of an experiment.
2 Collectively exhaustive events are those whose union is sample space.
3 All the outcomes of an experiment are known as sample space.
4 Two events are said to be independent if the happening of one does not affect the probability of happening of the other.

Answer:Sample space refers to the collection of all favourable outcomes of an experiment.
6 Which one of the following is a false statement?
1 A binomial distribution involves infinite number of trials
2 The mean and the variance of a Poisson distribution are equal
3 The standard normal distribution has µ=0 and σ=1
4 The standard deviation of an exponential distribution is equal to its mean

Answer:A binomial distribution involves infinite number of trials
7 Which one of the following statements is true ?
1 If one of the regression coefficients is greater than one, the other must also be greater than one.
2 The product of the two regression coefficients is always more than one.
3 Correlation coefficient is the arithmetic mean of the two regression coefficients.
4 The signs of the two regression coefficients are always the same.

Answer:The signs of the two regression coefficients are always the same.
8 In the absence of which of the following, SPSS can be used as an alternate ?
1 MS Word
2 MS Excel
3 MS Access
4 MS Datapro

Answer: MS Excel
9 Which among the following are 5 Ps of strategy as identified by Mintzberg ?

(a) Plan

(b) Problem

(c) Pattern

(d) Position

(e) Ploy

(f) Perspective

Code :
1 (a), (b),(c), (d) and (e)
2 (a), (b), (d), (e) and (f)
3 (b), (c), (d), (e) and (f)
4 (a), (c), (d), (e) and (f)

Answer:(a), (c), (d), (e) and (f)
10 Assertion (A) : A firm’s relative position within its industry determines whether the firm’s overall profitability is above or below the industry average.

Reasoning (R) : The fundamental basis of average profitability in the long run is sustainable competitive advantage.

Code :
1 (A) and (R) both are correct and (R) is the right explanation of (A).
2 (A) and (R) both are correct but (R) is not the right explanation of (A).
3 (A) is correct but (R) is incorrect.
4 (R) is correct but (A) is incorrect.

Answer:(A) and (R) both are correct and (R) is the right explanation of (A).
11 Statement (I) : A “Star” is the market leader in a high-growth market ; and it has sufficient cash to support other businesses.

Statement (II) : “Dogs” have weak market share in high - growth market.

Code :
1 Statement (I) is correct but (II) is incorrect.
2 Statement (II) is correct but (I) is incorrect.
3 Both the Statements (I) and (II) are correct.
4 Both the Statements (I) and (II) are incorrect.

Answer:Both the Statements (I) and (II) are incorrect.
12 Which among the following is not a generic strategy ?
1 Unity Strategy
2 Cost Leadership Strategy
3 Differentiation Strategy
4 Niche Strategy

Answer:Unity Strategy
13 Elements of entrepreneurial competencies, according to the theorist of the subject, pertain to which one of the following ?
1 Body of knowledge, set of skills, cluster of appropriate motives and traits
2 Ability to prepare viable project, executional skills and materialisation of group goals
3 Ability to work in a group, enforce group dynamics and motivate employees
4 Assigning priorities to hierarchy of Maslow’s monetary needs and non-monetary needs

Answer:Body of knowledge, set of skills, cluster of appropriate motives and traits
14 Under the new norms of Micro, Small and Medium Enterprises Development (MSMED) Act 2006, the criteria of investment limit in plant and machinery for MSME falls under which one of the following category ? `
1 Micro ` 25 lakh, small ` 5 crore, Medium ` 10 crore
2 Micro ` 20 lakh, small ` 2.5 crore, Medium ` 5 crore
3 Micro ` 20 lakh, small ` 6 crore, Medium ` 8 crore
4 Micro ` 25 lakh, small ` 10 crore, Medium ` 15 crore

Answer:Micro ` 25 lakh, small ` 5 crore, Medium ` 10 crore
15 Entrepreneurial Judo strategy aims at which one of the following ?
1 Filling holes left by others in the industry.
2 Developing effectiveness in the industry.
3 Mobilising finance and effective use to reduce NPAs.
4 Creating competitive environment in the environment of SMMEs.

Answer:Filling holes left by others in the industry.

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