Kerafed Accountant Marked Final
Kerafed Accountant Marked Final
me/CooperativewayKerala
024/2025
Maximum : 100 marks
Time : 1 hour and 30 minutes
3. The common feature between a cooperative society and a joint stock company is that :
1. Both types of organizations offer limited liability to their members
2. Both are considered separate legal entities from their members
3. In both structures, ownership interests can be transferred
(A) Only 1 and 2 correct (B) Only 2 and 3 correct
(C) Only 1 and 3 correct (D) All correct
5. Among the following cooperative principle(s), which was/were developed by the Rochdale
Pioneers?
1. Democratic member control
2. Distribution of surplus based on investment
3. Open and voluntary membership
(A) Only 1 and 2 correct (B) Only 2 and 3 correct
(C) Only 1 and 3 correct (D) All correct
A 3
[P.T.O.]
7. Karve Committee has viewed that, the key feature of cooperative societies should be :
1. Voluntary membership
2. A focus on profit maximization
3. Limited member liability
(A) Only 1 and 3 correct (B) Only 1 and 2 correct
(C) Only 1 correct (D) Only 2 and 3 correct
024/2025 4 A
11. What is true about the administration of IFFCO?
1. Management is led by elected representatives from cooperatives
2. Management is appointed by the central government
3. Managed by a board of directors elected by its cooperative members
(A) Only 2 correct (B) Only 1 correct
(C) Only 1 and 3 correct (D) Only 3 correct
14. What is/are true about the Arbitration, in the case of cooperative disputes?
1. Arbitration process involves resolving disputes outside the courts
2. Arbitration requires the presence of legal advocates for all the parties involved
3. Arbitration is normally faster than traditional process of litigation
(A) Only 1 and 3 correct (B) Only 2 correct
(C) Only 1 correct (D) Only 2 and 3 correct
15. Which is/are the nature of Execution of an award given as a result of arbitration?
1. the award is treated as a decree of a civil court
2. in order to execute, a separate law suit is needed
3. the award must be confirmed by a higher legal authority
(A) Only 1 and 3 correct (B) Only 2 correct
(C) Only 1 correct (D) Only 2 and 3 correct
A 5 024/2025
[P.T.O.]
16. The Cooperative Tribunal is constituted primarily with the objective of :
1. Resolving disputes arising within cooperative societies
2. Overseeing the financial audits of cooperative societies
3. Enforcing penalties for non-compliance with cooperative laws
(A) Only 1 and 3 correct (B) Only 2 correct
(C) Only 1 correct (D) Only 2 and 3 correct
20. Which is a form of State aid to societies as per Sec. 53 of The Kerala Co-operative
Societies Act, 1969?
1. Guaranteeing the payment of interest on debentures issued by a society
2. Giving loans to societies
3. Giving financial assistance in the form of subsidies, to a society
(A) Only 1 and 3 correct (B) Only 2 and 3 correct
(C) Only 1 and 2 correct (D) All correct
024/2025 6 A
21. An auditor of a Cooperative society finds difference between physical balance and book
balance of Cash. He is supposed to do all of the following, except __________?
(A) If the physical balance is less, immediately file a case before the SHO of the
Police station having jurisdiction over that society and report it to the higher
officers of the auditor.
(B) If the physical balance is high, it should be marked as ‘advance due by’
(C) If the physical balance is less, it should be marked as ‘advance due to’
(D) If the physical balance is less, report it to higher officer and the Board of
Directors as ‘temporary theft done by the CEO of the Society’
22. Audit Fees for primary cooperative credit societies (Other than long term) is calculated
based on which of the following?
(A) Amount of loan given (B) Amount of loan repayment
(C) Amount of share capital (D) Amount of working capital
23. An auditor have the power to summon any person in possession of books, accounts,
documents etc to the office of the Director of cooperative audit or to any subordinate
office of him, if :
(A) There is no working office for a society
(B) A theft of 5 lakh or above is identified during audit
(C) A serious offence have occurred which may damage the existence of the
society
(D) In all the above cases
24. Who among the following maintain and administer the relief fund for the members of
Cooperative Societies?
(A) Secretary to the Department of Cooperation, Kerala Govt.
(B) State Cooperative Bank
(C) Registrar of Co-operative Societies
(D) State Cooperative Union
25. What is the audit fee charged for the audit of first year accounts of a society?
(A) Rs.1000 flat
(B) No Fee
(C) No fee if paid up capital is less than one lakh, else Rs. 1000
(D) No fee if working capital or turnover is less than one lakh, else Rs.1000
26. Identify the exact name of act passes to regulate cooperative societies in British India
during 1904?
(A) The Credit Co-Operative Societies Act 1904
(B) The British India Co-Operative Societies Act 1904
(C) The Co-Operative Societies Act 1904
(D) The Co-Operative Credit Societies Act 1904
A 7 024/2025
[P.T.O.]
27. As per Cooperative Societies Act 1912, if a dispute arises on the status of a person to be
admitted as member, such as agriculturists or not, etc, who take the decision which is
treated as final?
(A) Revenue head of the respective Village
(B) The Registrar
(C) Board of Directors/Management Committee of the Society
(D) Chief Executive of that Society
28. On transfer of cooperation as a provincial subject, in British India, which of the following
province passed its own cooperative societies act at first?
(A) Bombay Province (B) Bengal Province
(C) Central Province (D) Madras Province
30. Consider the following statements on the Multi-State Co-operative Societies Act, 2002.
Identify the wrong one :
(A) This act repealed and replaced the Multi-State Co-operative Societies Act,
1984.
(B) Area of operation of a Multi-State Co-operative Society is the area from which
the persons are admitted as members
(C) The central Government, after hearing, have the power to remove the board
of directors
(D) It extends to the whole of India except the state of Jammu & Kashmir
31. In general, a Multi-State Co-operative Societies can be categorised into which of the
following?
(A) A federal type of Co-operative Society
(B) A unitary type of Co-operative Society
(C) A designer Co-operative Society
(D) A nationally important Co-operative Society
33. In which year the International Cooperative Alliance had adopted a revised statement
on the Cooperative Identity?
(A) 1998 (B) 1992
(C) 1995 (D) 1999
024/2025 8 A
34. Which of the following Committee recommended the creation of Multi-purpose
Cooperative Society at first?
(A) The Royal Commission on Agriculture in 1928
(B) Working Group on Cooperative Policy 1958
(C) All India Rural Credit Survey Committee 1951
(D) The Mehta Committee 1937
35. Following statements are on ‘Producer Companies’. Identify the wrong one :
(A) It is a company incorporated under relevant Companies Acts
(B) Maximum number of members are restricted to hundred
(C) It works on Cooperative principles
(D) The members are mandatorily primary producers
36. Following statements are on ‘Parallel Cooperative Legislations’. Identify the wrong one :
(A) It promote establishment of self-reliant cooperative societies
(B) It encourage cooperatives to function as autonomous, democratic and
member-controlled institutions
(C) Andhra Pradesh is the first state to enact a Parallel Cooperative Legislation
(D) Such societies can receive financial assistance from Government only as
capital participation
37. Following statements are on Integrated Fisheries Development Projects (IFDP). Identify
the wrong one :
(A) It is a project funded by National Cooperative Development Corporation
(B) The loan is provided directly to the fishermen by the Matsyafed
(C) It was started in the year 1984 for assisting the traditional fishermen
(D) The assistance is provided in kind as subsidised loan
38. Following statements are on NAFED. Identify the wrong one :
(A) It is a Multi State Co-operative Society
(B) It admit primary marketing/processing societies as its members
(C) It is created on the basis of recommendations given by V.L. Mehta Committee
of 1959
(D) It advance loans to its members and other cooperative institutions on the
security of goods
39. The Multi-Unit Cooperative Societies Act was passed in which year?
(A) 1984 (B) 2001
(C) 1942 (D) 1995
40. Following statements are on Kerala State Co-operatives Consumers’ Federation Ltd.
Identify the wrong one :
(A) All district wholesale co-operative consumer stores in Kerala has membership
in the Federation
(B) State Government can nominate directors to its board
(C) All primary consumer cooperative societies are members of the federation
(D) It has a pharmaceutical educational institution
A 9 024/2025
[P.T.O.]
41. Which of the following statement is/are correct with regard to the need for correspondent
banking?
(i) To have access to foreign market
(ii) To facilitate liquidity management
(A) Only (i) (B) Only (ii)
(C) Both (i) and (ii) (D) None of the above
42. Which of the following is not an element for framing KYC norms for a bank.
(A) Monitoring of Transaction (B) Customer security provisions
(C) Risk Management (D) Customer Acceptance Policy
43. Which of the following are considered as valid exceptions in the case of pledge by non
owner.
(i) Mercantile agent
(ii) A pledger who has only a limited interest in goods
(iii) One of the joint owners in sole possession of goods.
(A) (i) and (ii) only (B) (ii) and (iii) only
(C) (i) and (iii) only (D) (i), (ii) and (iii)
44. Which among the following banks is not a party to Letter of Credit?
(A) Refinancing Bank (B) Issuing Bank
(C) Advising Bank (D) Confirming Bank
45. Which among the following statements are correct with regard to RBI?
Statement I : Market Stability Scheme is used by RBI to manage surplus liquidity
Statement II : Open market operation are conducted by RBI by directly undertaking
transactions in primary market.
(A) Statement I only is correct (B) Statement II only is correct
(C) Both Statements are correct (D) Both Statements are Incorrect
024/2025 10 A
47. Which among the following statement/statements is /are true about RBI?
Statement I : RBI was initially privately owned and after nationalisation in 1969
RBI is fully owned by the Government of India.
Statement II : Central Office of RBI was initially established in Delhi, and later
permanently moved to Mumbai.
(A) Statement I only is Correct (B) Statement II only is Correct
(C) Both statements are Correct (D) Both Statements are Incorrect
48. Which of the following qualitative instruments are used by Reserve Bank of India?
(i) Moral Suasion
(ii) Direct Action
(iii) Publicity
(A) (i) only (B) (i) and (ii) only
(C) (ii) and (iii) only (D) (i), (ii) and (iii)
49. Which among the following are the domestic subsidiaries of State Bank of India?
(i) CIBIL
(ii) CCIL
Cancelled
(A) (i) only (B) (ii) only
(C) Both (i) and (ii) (D) None of the above
51. The purpose of differential interest rate scheme introduced by public sector bank :
(A) Motivate the small-scale entrepreneurs in rural areas
(B) Enhance flexibility in lending practices
(C) To assist the weakest among the weaker segments of the society
(D) None of the above
52. Which among the following statements are true with regard to Regional Rural Banks?
Statement I : RRBs aims to provide credit facilities to small and marginal farmers.
Statement II : RRBs are sponsored by the state governments.
(A) Statement I only (B) Statement II only
(C) Both statements (D) None of the statements
A 11 024/2025
[P.T.O.]
53. Which of the following recommendation is not involved in Narasimham Committee
report on financial system?
(A) Reduction of statutory pre-emptions
(B) Introduction of derivative instruments
(C) Deregulation of the interest rate
(D) Opening up financial sector to foreign banks
54. Which of the following statements are correct with regard to Local Area Banks?
Statement I : They are registered as public limited companies under Companies Act.
Statement II : They will not be eligible for inclusion in the second schedule of the
Reserve Bank of India Act.
(A) Statement I and II (B) Statement I only
(C) Statement II only (D) None of the above
56. Which among the districts are considered as Special Focus districts under NABARD’s
Financial Fund?
(i) Aspirational districts
(ii) LWE districts
(iii) Credit deficient districts
(A) (i), (ii) and (iii) (B) (i) and (ii) only
(C) (i) and (iii) only (D) (ii) and (iii) only
57. Which of the following types of financial institutions are excluded from the scope of
Banking Regulation Act, 1949?
(i) Primary Agricultural Credit Society.
(ii) Cooperative Land Mortgage Bank.
(A) (i) only (B) (ii) only
(C) (i) and (ii) (D) None of the above
024/2025 12 A
58. As per Banking Regulation Act, 1949, which of the following returns are excluded from
submission to RBI on a periodic basis :
(A) Return of liquid assets and liabilities
(B) Weekly Returns
(C) Monthly Returns
(D) None of the above
59. According to the provisions of the Banking Regulations Act, 1949 which of the following
forms of business can be lawfully undertaken by a bank :
(i) Indemnity and guarantee business
(ii) Undertaking and executing trust
(A) Both (i) and (ii) (B) Neither (i) nor (ii)
(C) (i) only (D) (ii) only
60. In which of the following situation/situations high court shall order the compulsory
winding of a banking company?
(i) If the banking company is unable to pay its debts.
(ii) If the application for winding up has been submitted by the banking company.
(A) In (i) only (B) In both situations
(C) In (ii) only (D) None of the above
61. When a banker opens an account in favor of a person by accepting some money, he
assumes the position of a :
(A) Debtor (B) Creditor
(C) Agent (D) Trustee
62. An authenticated copy of the customer’s account in the bank’s own book :
(A) Statement of Accounts (B) Bank passbook
(C) Cash Book (D) Cheque Book
64. When a person dies without making any will or makes a will but does not mention
anyone as executor, the court appoints –––––––––––– to wind up his estate.
(A) Executor (B) Administrator
(C) Trustee (D) Banker
A 13 024/2025
[P.T.O.]
65. Who is the person who creates a bill of Exchange?
(A) Drawer (B) Drawee
(C) Banker (D) Payee
68. In a MICR cheque, the last three numbers in the code line indicates :
(A) Cheque Number (B) City Code
(C) Bank Code (D) Branch Code
70. Contributions made towards Atal Pension Yojana are eligible for tax benefits under
______________ of the Income Tax Act.
(A) 80 C (B) 80 CCA
(C) 80 CCD (D) 80 D
71. Which of the following is the one-time settlement scheme launched by IDBI Bank for
retail NPAs?
(A) Sugam Shakti Yojana (B) Sugam Loan Settlement Plan
(C) Sugam Rinn Bhugtan Yojana (D) Sugam Recovery Yojana
024/2025 14 A
74. Which of the following is the Key feature of a digital Signature which ensure the
authenticity of online banking transaction?
(A) Two factor authentication
(B) Public Key Cryptography with a private key held by a customer
(C) Encryption of transaction details
(D) Use of unique user name and password
77. A loan becomes a NPAs when the interest or principal becomes overdue for a period of :
(A) 30 days (B) 90 days
(C) 180 days (D) 365 days
78. A measure of the amount of a bank Capital Expressed as a percentage of its risk
weighted cred exposure :
(A) Capital Adequacy Ratio (B) Asset Quality Ratio
(C) Operational Efficiency Ratio (D) Debt to Capital Ratio
79. Right of a bank to retain the property belonging to the debtor until he has discharged the
debt due to the retainer of the property :
(A) Lien (B) Pledge
(C) Mortgage (D) Hypothecation
80. The risk coverage being provided in the Pradhan Manthri Jeevan Jyothi Bima Yojana
is :
(A) 2 lakhs (B) 3 lakhs
(C) 4 lakhs (D) 5 lakhs
A 15 024/2025
[P.T.O.]
81. Which of the following best describes the role of the ALU in a CPU?
(A) Managing memory and storage
(B) Performing arithmetic and logical operations
(C) Controlling input/output devices
(D) Coordinating data transfer between peripherals
82. Which type of memory is non-volatile and used to store firmware in most computers?
(A) RAM (B) Virtual Memory
(C) Cache (D) ROM
84. Which of the following best explains the primary function of system software?
(A) Managing and coordinating computer hardware resources
(B) Performing specific tasks like word processing
(C) Providing access to multimedia content
(D) Enabling graphic design and video editing
86. Which MS Word feature allows the user to apply a uniform look to the document using
predefined formatting elements?
(A) Styles (B) Themes
(C) Templates (D) Clip Art
024/2025 16 A
88. In a spreadsheet, what is the function of an absolute cell reference in formulas?
(A) It updates automatically when the formula is copied to another cell
89. Which feature in a worksheet allows you to keep row and column labels visible while
scrolling through a large dataset?
90. Which PowerPoint feature allows you to animate the transition between slides for a
more dynamic presentation?
91. Which of the following statements about objects in Object-Oriented Programming (OOP)
is true?
(A) Objects do not have a unique identity
(B) An object can have its state changed during runtime
92. In C++, what happens if an array is declared with a size of 10 and an attempt is made to
access the 15th element?
(A) The program will always terminate with an error
93. In Visual Basic, which event occurs when a user releases a mouse button over a form?
A 17 024/2025
[P.T.O.]
94. What is the output of the following [Link] code?
Dim i As Integer = 1
Do Until i >5
[Link](i)
i+=2
Loop
(A) 12345 (B) 135
(C) 13 (D) Infinite loop
97. Which SQL join will include all rows from the left table and only the matching rows from
the right table?
(A) INNER JOIN (B) OUTER JOIN
(C) LEFT JOIN (D) RIGHT JOIN
99. Which of the following is true about the <iframe> element in HTML?
(A) It cannot load content from a different domain
(B) It is used to display a web page within a web page
(C) It is deprecated in HTML5
(D) It does not support styling with CSS
024/2025 18 A
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FINAL ANSWER KEY
Question Paper Code:24/25
Question Paper Medium:English
Category Code:009/2024,010/2024
Name Of Post & Department:Accountant- KERAFED 009/2024,010/2024
Date Of Test:22-Feb-2025
QUESTION BOOKLET ALPHA CODE QUESTION BOOKLET ALPHA CODE
Q No. A B C D Q No. A B C D
1 A D C C 51 C A C C
2 D C A C 52 A C B D
3 D D D A 53 B B D D
4 A D A C 54 B A A X
5 C C C D 55 C A A D
6 D C C A 56 A C C C
7 C A C D 57 C B D A
8 D D A D 58 B D D B
9 D A C A 59 A A X B
10 C C D C 60 A A D C
11 C C A D 61 A A C A
12 A C D C 62 B B C B
13 D A D D 63 C D C A
14 A C A D 64 B A B A
15 C D C C 65 A C D A
16 C A D C 66 A C A A
17 C D C A 67 B C B B
18 A D D D 68 D C A C
19 C A D A 69 A B A B
20 D C C C 70 C D A A
21 A D B D 71 C A A A
22 D B A B 72 C B B B
23 A A C C 73 C A C D
24 C A D C 74 B A B A
25 B D B C 75 D A A C
26 D B D A 76 A A A C
27 B A B D 77 B B B C
28 A C C A 78 A C D C
29 A D C C 79 A B A B
30 D B C B 80 A A C D
31 B D A D 81 B B C B
32 A B D B 82 D A A D
33 C C A A 83 B C B A
34 D C C A 84 A A D B
35 B C B D 85 C B A B
36 D A D B 86 A D B D
37 B D B A 87 B A B B
38 C A A C 88 D B D A
39 C C A D 89 A B B C
40 C B D B 90 B D A A
41 C C C A 91 B B B C
42 B D A C 92 B B B B
43 D D B B 93 B B C B
44 A X B A 94 B B B D
45 A D C A 95 B C B B
46 C C A C 96 B B D B
47 D A C B 97 C B B B
48 D B B D 98 B D B B
49 X B A A 99 B B B B
50 D C A A 100 D B B B