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Past Questions — 2022
Investment appraisal techniques are also known as:
A)
Commercial budgeting techniques
B)
Capital budgeting techniques
C)
Economic budgeting techniques
D)
Annual budgeting technique
Investment appraisal is the process of evaluating the profitability and viability of long-term investments. In financial management, this process is formally known as 'Capital Budgeting'. Capital budgeting involves analyzing potential projects (such as purchasing new machinery, expanding a mine, or building a plant) to determine if they will generate sufficient returns to justify the initial capital outlay. Common techniques used in capital budgeting include Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period, and Accounting Rate of Return (ARR).
Why other options are incorrect:
- a. Commercial budgeting: This is a general term and not a standard financial term for long-term investment evaluation.
- c. Economic budgeting: While investment appraisal has economic implications, 'economic budgeting' is not the technical term used for project appraisal.
- d. Annual budgeting: This refers to operational budgeting (OpEx) for a single fiscal year, focusing on short-term revenue and expenses, whereas investment appraisal focuses on long-term capital expenditure (CapEx).
What causes depreciation of an asset?
A)
Wear and tear
B)
Loss of goods
C)
Increased liability
D)
Purchase of goods
Depreciation is the systematic allocation of the cost of a tangible fixed asset over its useful life. It represents the decrease in the value of an asset over time. The primary causes of depreciation include: 1. Wear and Tear: Physical deterioration due to constant use in business operations. 2. Obsolescence: The asset becoming outdated due to technological advancements. 3. Effluxion of Time: The expiration of the legal right to use an asset (e.g., leasehold property).
Analyzing the options:
- Option (a) 'Wear and tear' is a direct cause of physical depreciation.
- Option (b) 'Loss of goods' refers to inventory shrinkage or theft, which is an expense/loss, not depreciation of a fixed asset.
- Option (c) 'Increased liability' refers to debts owed by the company and has no impact on the physical or economic value of a fixed asset.
- Option (d) 'Purchase of goods' is an acquisition of an asset or inventory, which increases the asset base rather than causing its value to decrease.
Workman’s inspector is assigned through:
A)
Election
B)
Deputation
C)
Selection
D)
Nomination
Under the Mines Act and the associated Coal Mines Regulations/Metalliferous Mines Regulations, the Workman's Inspector is a statutory position designed to ensure that the safety concerns of the workers are represented. To ensure the independence and legitimacy of this role, the Workman's Inspector is chosen by the workers themselves through a democratic process. Specifically, they are elected by the workmen of the mine. This prevents the management from simply appointing or nominating a person who might not represent the workers' interests. Therefore, 'Election' is the correct method of assignment, while deputation, selection (by management), or nomination are not the legally prescribed methods for this specific role.
Terms of Chairman of Committee constituted under Section 12 of Mines Act 1952 is?
A)
3 years
B)
2 years
C)
5years
D)
1 years
Under Section 12 of the Mines Act, 1952, the Central Government has the power to constitute a committee to advise on the working of the Act. According to the statutory provisions governing the appointment of the committee members and the Chairman, the term of office for the Chairman and the members of the committee is specified as 3 years. Therefore, option (a) is the correct answer. Options (b), (c), and (d) are incorrect as they do not align with the tenure specified in the legal framework of the Mines Act 1952 regarding this specific committee.
As per Explosive Rules 2008, permitted explosive means authorised explosive which is permitted by the Director General of Mines Safety to be used in:
A)
Underground Coal Mines
B)
Opencast coal Mines
C)
Metalliferous mines
D)
All of the above
In the context of mining safety and the Explosives Rules, 'Permitted Explosives' are specifically designed to be used in environments where there is a risk of firing flammable gases (like methane) or coal dust. These explosives are formulated to have lower flame temperatures and shorter flame durations compared to non-permitted explosives. Because the risk of gas and dust explosions is a critical safety concern primarily in underground coal mines, the Director General of Mines Safety (DGMS) authorizes specific 'permitted' explosives for use in these specific environments to prevent accidental ignitions. While explosives are used in opencast and metalliferous mines, they do not typically require the 'permitted' classification unless there is a specific risk of flammable gas, which is the defining characteristic of underground coal mine operations.
As per Mizoram Minor Mineral Concession Rules 2000, maximum area for which mining lease may be granted in the State in respect of any minor mineral should not be:
A)
Less than 100 hectares
B)
More than 100 Hectares
C)
More than 100 Sq km
D)
None of the above
According to the Mizoram Minor Mineral Concession Rules, 2000, the regulations specify the limits for the area of land that can be granted under a mining lease to prevent the monopolization of mineral resources and ensure sustainable land use. Specifically, the rules stipulate that the maximum area for which a mining lease may be granted in the State in respect of any minor mineral should not be more than 100 hectares.
- Option (a) is incorrect because the rule sets a maximum ceiling, not a minimum requirement.
- Option (c) is incorrect because the unit of measurement specified in the rules is 'Hectares', not 'Square Kilometers' (100 sq km would be 10,000 hectares, which is excessively large for a standard minor mineral lease).
- Option (d) is incorrect as option (b) accurately reflects the statutory limit.
If one-third of one-fourth of a number is 15, then three-tenth of that number is:
A)
35
B)
36
C)
45
D)
54
Step 1: Let the unknown number be represented by 'x'.
Step 2: Translate the first part of the problem into an algebraic equation. 'One-third of one-fourth of a number is 15' can be written as: (1/3) * (1/4) * x = 15.
Step 3: Simplify the equation: (1/12) * x = 15.
Step 4: Solve for x by multiplying both sides by 12: x = 15 * 12 = 180.
Step 5: Now, find 'three-tenth of that number'. This is calculated as: (3/10) * 180.
Step 6: Perform the calculation: (3 * 180) / 10 = 540 / 10 = 54.
Comparing this result to the options:
a. 35 (Incorrect)
b. 36 (Incorrect)
c. 45 (Incorrect)
d. 54 (Correct)
The mean of exponential distribution is given as:
A)
1/l
B)
1/ l2
C)
l2
D)
l3
The exponential distribution is a continuous probability distribution used to model the time between events in a Poisson process. The probability density function (PDF) of an exponential distribution is given by f(x; λ) = λe^(-λx) for x ≥ 0, where λ (represented as 'l' in the options) is the rate parameter.
To find the mean (expected value E[X]), we calculate the integral:
E[X] = ∫₀^∞ x * λe^(-λx) dx
Using integration by parts, this evaluates to:
E[X] = 1/λ
Therefore, the mean of the exponential distribution is the reciprocal of the rate parameter.
- Option (a) 1/l is correct.
- Option (b) 1/l² is the formula for the variance of the exponential distribution.
- Options (c) and (d) are mathematically incorrect for the mean of this distribution.
Dense medium separation (DMS) is a technique used to separate particles based on:
A)
Specific gravity
B)
Hardness
C)
Coarseness
D)
Block size
Dense Medium Separation (DMS) is a gravity-based concentration process used in mineral processing to separate minerals of different densities. The process involves creating a medium (usually a mixture of water and a finely ground heavy mineral like ferrosilicon or magnetite) with a specific density that lies between the densities of the two materials being separated. Particles with a specific gravity lower than the medium will float, while particles with a specific gravity higher than the medium will sink.
Why other options are incorrect:
- b. Hardness: Hardness is a mechanical property (resistance to scratching) and is not used for separation in DMS.
- c. Coarseness: This refers to particle size; while DMS has a specific size range it can operate on, it separates based on density, not size.
- d. Block size: Similar to coarseness, size is a physical dimension and not the driving force for separation in a dense medium environment.
Choose the correct one:
A)
Redemption is the profit obtained by selling old articles
B)
Redemption is the interest obtained from bank deposit
C)
Redemption is the repayment of a fixed-income security
D)
Redemption is the profit obtained after selling share in stock market
In finance, 'Redemption' refers to the process where an issuer of a debt instrument (such as a bond, debenture, or preference share) repays the principal amount to the holder of the security. This typically occurs at the maturity date of the security.
Analysis of options:
- Option (a) is incorrect: Profit from selling old articles is generally termed as 'Gain on Sale of Assets'.
- Option (b) is incorrect: Interest from bank deposits is simply 'Interest Income'.
- Option (c) is correct: Redemption specifically describes the repayment of the face value of a fixed-income security (like a bond) to the investor.
- Option (d) is incorrect: Profit from selling shares in the stock market is known as 'Capital Gains'.
Coefficient of variation is a percentage expression of:
A)
Mean deviation
B)
Quartile deviation
C)
Standard deviation
D)
None of the above
Coefficient of variation = (Standard deviation / Mean)*100%, measures relative variability.
If S = Summation; Xi = Observations or values; M = Mean; N = number of observations, the formula to calculate the mean deviation (MD) for an individual series is:
A)
1/N Σ |Xi + M|
B)
1/N Σ (Xi - M)
C)
1/N Σ |Xi - M|
D)
1/N Σ (Xi - M)
Mean Deviation (MD), also known as Average Deviation, is a measure of dispersion that calculates the average of the absolute differences between each data point and a central tendency measure (usually the mean or median).
Step-by-step derivation:
1. Find the deviation of each observation (Xi) from the mean (M): (Xi - M).
2. Since some deviations are positive and some are negative, and the sum of deviations from the mean is always zero, we take the absolute value to ensure all distances are positive: |Xi - M|.
3. Sum these absolute deviations for all N observations: Σ |Xi - M|.
4. Divide the total sum by the number of observations (N) to find the average: 1/N Σ |Xi - M|.
Analysis of other options:
- Option (a) uses addition (|Xi + M|), which does not represent a deviation (distance).
- Option (b) and (d) omit the absolute value signs. Without absolute values, the sum Σ (Xi - M) mathematically equals zero, making the result always 0 regardless of the data spread.
Appeal to Chief Inspector against order of Regional Inspector under CMR, 2017 can be made within __________ days.
A)
10
B)
20
C)
30
D)
15
Under the Coal Mines Regulations (CMR), 2017, specifically regarding the administrative and legal procedures for appeals against orders passed by a Regional Inspector, the statutory time limit for filing an appeal to the Chief Inspector is 30 days. This timeframe is standard for administrative appeals within the Directorate General of Mines Safety (DGMS) framework to ensure timely resolution of disputes or grievances regarding inspectorate orders. Therefore, option (c) is the correct legal timeframe.
As per MMR 1961, no winding rope shall be used in a shaft exceeding 1500 m in depth if its safety factor is less than:
A)
2
B)
3
C)
4
D)
5
According to the Metalliferous Mines Regulations (MMR) 1961, specifically under the regulations governing winding operations and the safety of winding ropes, there are prescribed minimum factors of safety based on the depth of the shaft. The factor of safety is the ratio of the breaking strength of the rope to the maximum static load it is expected to carry. For very deep shafts, the risk of rope failure increases due to the self-weight of the rope and dynamic stresses. For shafts exceeding 1500 meters in depth, the regulations mandate a higher safety factor to ensure structural integrity and personnel safety. In accordance with the standard safety tables provided in the MMR 1961 for winding ropes, the minimum factor of safety required for a shaft depth exceeding 1500 m is 5. Options a, b, and c represent safety factors applicable to shallower depths or different types of hoisting equipment, but they are insufficient for the extreme depth of 1500m+.
Identify the department from which the workmen’s Inspector is not considered:
A)
Mining
B)
Civil
C)
Electrical
D)
Mechanical
In the context of mining safety and legislation (specifically under the Mines Act and associated regulations), the 'Workmen's Inspector' is a representative chosen from the workforce to assist in safety inspections. The technical requirements for mining operations primarily revolve around the extraction process, the machinery used, and the power systems. Therefore, inspectors are typically drawn from the core technical departments: Mining (for excavation and strata control), Mechanical (for haulage, winding, and machinery), and Electrical (for power supply and lighting). Civil engineering, while used in the construction of surface infrastructure, is not considered a primary technical department for the appointment of a specialized Workmen's Inspector focused on the operational safety of the mine workings.
Sand not be treated as minor mineral when used for certain purposes as:
A)
Purpose of Refractory and manufacture of ceramic
B)
Optical purpose
C)
Purpose of stowing in coal mines
D)
All of the above
Under the regulatory framework of mining laws (specifically relating to the classification of minerals in India), 'Minor Minerals' are typically those defined under the Mines and Minerals (Development and Regulation) Act. However, certain exemptions are made where sand is not treated as a 'minor mineral' for royalty or regulatory purposes when it is used for specific industrial or safety applications.
1. Refractory and Ceramic Manufacture: High-purity silica sand used in these industries is often treated as an industrial raw material rather than a common minor mineral.
2. Optical Purposes: Sand used for producing high-grade glass or optical components requires specific purity levels and is categorized differently from construction sand.
3. Stowing in Coal Mines: Sand used for 'stowing' (filling the void created by extracting coal to prevent surface subsidence) is treated as a safety/operational requirement of the mining process rather than a commercial mineral extraction activity.
Since all three scenarios involve specialized uses where sand is exempt from the standard 'minor mineral' classification for specific administrative or royalty purposes, the correct answer is 'All of the above'.
Information regarding Reportable injury shall be sent to Chief Inspector and Regional Inspector immediately when persons involved are equal to or more than:
A)
4
B)
5
C)
Irrespective of number of person
D)
Never sent
Under the Mines Act and the associated Coal Mines Regulations (CMR) or Metalliferous Mines Regulations (MMR), a 'Reportable Injury' is defined as any injury which prevents the affected person from reporting for duty for a period of more than 20 days (or any fatal accident). According to the statutory requirements for reporting accidents and injuries, the owner, agent, or manager is mandated to send notice of every reportable injury to the Chief Inspector and the Regional Inspector. The obligation to report a 'Reportable Injury' is triggered by the nature and severity of the injury itself (the duration of absence from work), not by the quantity of persons involved. While 'Serious Accidents' (which may involve multiple persons) have specific immediate reporting timelines, any single instance of a reportable injury must be notified regardless of whether one person or multiple persons are involved. Therefore, the reporting requirement exists irrespective of the number of persons.
According to regulation 119 of CMR 2017, No working shall be made within __________ from any railway or any public works/road.
A)
45 m
B)
30 m
C)
60 m
D)
100 m
According to Regulation 119 of the Coal Mines Regulations (CMR) 2017, which deals with the protection of public works and railways, it is explicitly stated that no working shall be made within 30 meters from any railway or any public works/road. This safety buffer is mandated to prevent land subsidence, slope failure, or structural instability that could jeopardize public infrastructure and transportation networks.
- Option (a) 45 m is incorrect as it is not the prescribed limit in CMR 2017.
- Option (b) 30 m is the correct statutory limit as per Regulation 119.
- Option (c) 60 m is incorrect.
- Option (d) 100 m is incorrect.
Mines Act 1952 not to apply where it is in opencast working the number of persons employed on any does not exceed?
A)
20
B)
40
C)
50
D)
100
According to Section 2 of the Mines Act, 1952, the Act applies to all mines. However, there are specific exemptions regarding the application of the Act based on the nature of the mine and the number of employees. Specifically, the Act does not apply to a mine if it is an opencast working and the number of persons employed therein on any day does not exceed 50. If the number of employees exceeds 50 in an opencast working, the provisions of the Mines Act, 1952, become applicable. Therefore, the threshold for non-applicability in opencast workings is 50 persons.
As per the Mineral Concession Rules 1960, the Reconnaissance Permit to be executed within __________ months of the date of the communication of the order:
A)
12
B)
9
C)
3
D)
6
According to the Mineral Concession (MC) Rules, 1960, specifically under the provisions governing the grant of Reconnaissance Permits (RP), the permit must be executed within a specified timeframe after the order of grant has been communicated to the applicant. The rule stipulates that the Reconnaissance Permit shall be executed within 6 months from the date of the communication of the order. If the permit is not executed within this period, the grant may be liable for cancellation. Therefore, option (d) is the correct answer. Options (a) 12, (b) 9, and (c) 3 are incorrect as they do not align with the statutory timeline prescribed in the MC Rules 1960 for the execution of an RP.
Who has the power to make rules and regulations?
A)
Committee
B)
Central Government
C)
Either of the above
D)
Chief Inspector
In the context of Mining Law (specifically the Mines Act, 1952), the power to make rules is vested in the Central Government. Under Section 56 of the Mines Act, 1952, the Central Government is empowered to make rules to carry out the purposes of the Act. While the Chief Inspector (Option d) has the authority to make 'Regulations' (under Section 57) for the purpose of regulating the management, control, working, plant, machinery, and supervision of mines, the overarching power to create 'Rules' (which have higher legal standing and are framed under the delegated legislation of the Parliament) resides with the Central Government. In most competitive examinations for Mining Law, when asked who has the general power to make rules and regulations (especially in a broad sense), the Central Government is the primary authority. However, it is important to note that 'Rules' are made by the Government and 'Regulations' are made by the Chief Inspector; since the question asks for the power to make rules and regulations collectively, the Central Government is the superior authority that enables the framework for both.
Coal washing is accomplished by:
A)
Jigging
B)
Float flotation
C)
Heavy liquid separation
D)
None of the above
Coal washing (or coal cleaning) is the process of removing impurities (gangue) such as shale, clay, and sulfur from raw coal to increase its heating value and reduce ash content. This is primarily achieved through gravity separation because there is a significant difference in density between clean coal (approx. 1.3 to 1.5 g/cm³) and the mineral impurities (approx. 2.0 to 2.6 g/cm³).
1. Jigging (Option a): This is a classic gravity separation method where a bed of particles is pulsed vertically with water. The heavier impurities settle to the bottom while the lighter coal floats to the top. It is one of the most widely used industrial methods for coal washing.
2. Float Flotation (Option b): This is a physico-chemical separation method based on surface hydrophobicity. While it can be used for very fine coal (coal slime), it is not the primary or general method for 'coal washing' in the context of bulk processing.
3. Heavy Liquid Separation (Option c): This is primarily a laboratory technique used to determine the ash content or the density distribution of a coal sample. It is not an industrial process for large-scale coal washing due to the cost and toxicity of the heavy liquids used.
Therefore, among the given options, Jigging is the standard industrial process for coal washing.
In an explosive magazine, there are 8 explosives made of IEL Orica, 7 made of Solar Energies Limited and 6 made of Gulf Oil Corporation Limited. All the explosives are of same diameter, length, weight and colour. One explosive is picked up randomly. What is the probability that it is made of neither IEL Orica nor Gulf Oil Corporation Limited?
A)
2/3
B)
1/2
C)
1/3
D)
2/5
Step-by-step solution:
1. **Identify the total number of outcomes**: The total number of explosives in the magazine is the sum of explosives from all three companies.
Total = (IEL Orica) + (Solar Energies Limited) + (Gulf Oil Corporation Limited)
Total = 8 + 7 + 6 = 21 explosives.
2. **Identify the favorable outcomes**: The question asks for the probability that the picked explosive is 'neither IEL Orica nor Gulf Oil Corporation Limited'.
This means the explosive must be from the remaining company, which is Solar Energies Limited.
Number of favorable outcomes = 7 (Solar Energies Limited).
3. **Calculate the probability**: Probability (P) is defined as the number of favorable outcomes divided by the total number of outcomes.
P = (Number of Solar Energies Limited explosives) / (Total number of explosives)
P = 7 / 21
4. **Simplify the fraction**:
7 / 21 = 1 / 3.
Comparing this result to the options:
- Option a (2/3) is incorrect.
- Option b (1/2) is incorrect.
- Option c (1/3) is correct.
- Option d (2/5) is incorrect.
The probability that a hydraulic shovel randomly picked up from a production unit is defective is 0.1. The probability that out of 10 hydraulic shovels randomly picked up, 3 are defective is:
A)
0.001
B)
0.057
C)
0.106
D)
0.002
This problem follows a Binomial Distribution because there are a fixed number of independent trials (10 shovels), two possible outcomes (defective or not defective), and a constant probability of success (defective).
1. **Identify the parameters:**
- n (number of trials) = 10
- k (number of successes/defective shovels) = 3
- p (probability of success/defective) = 0.1
- q (probability of failure/not defective) = 1 - p = 0.9
2. **Apply the Binomial Probability Formula:**
P(X = k) = C(n, k) * (p^k) * (q^(n-k))
P(X = 3) = C(10, 3) * (0.1^3) * (0.9^(10-3))
3. **Calculate the components:**
- C(10, 3) = (10 * 9 * 8) / (3 * 2 * 1) = 120
- 0.1^3 = 0.001
- 0.9^7 ≈ 0.4782969
4. **Final Calculation:**
P(X = 3) = 120 * 0.001 * 0.4782969
P(X = 3) = 0.12 * 0.4782969
P(X = 3) ≈ 0.057395
Rounding to three decimal places, we get 0.057. Therefore, option (b) is the correct answer.
Annual return of a mine preceding year shall be submitted on or before __________ of every year.
A)
1st February
B)
14th January
C)
30th April
D)
31st October
Under the Metalliferous Mines Regulations (MMR) and Coal Mines Regulations (CMR) in India, the owner, agent, or manager of a mine is required to submit an annual return for the preceding calendar year. According to the statutory requirements (specifically Regulation 10 of MMR 1961 and corresponding provisions in CMR), the annual return must be submitted to the Chief Inspector or the Regional Inspector on or before the 1st of February of every year. This return contains critical data regarding production, manpower, safety records, and other operational statistics of the mine for the previous year. Options b, c, and d are incorrect as they do not align with the statutory deadline prescribed in the mining regulations.