PMEGP EDP Training Questions

PMEGP EDP Training Questions

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What is EDP training?

The objective of Entrepreneurship Development Programme (EDP) is to provide orientation and awareness pertaining to various managerial and operational functions like finance, production, marketing, Taxation, enterprise management, banking formalities, bookkeeping, etc. the Implementing Agencies.

What is the duration of EDP training?

Duration of Entrepreneurship Development Programme (EDP) is 11 Days.

5.00 lakhs project cost, EDP duration is 6 working days is mandatory.

Why EDP is needed?

EDPs can help in preventing spread of industrial slums by providing various incentives, subsidies and infrastructural support to entrepreneurs for setting up their enterprises in industrially backward areas. This will also help in reducing pollution and overtaxing of civic amenities.

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PMEGP EDP Training Questions & Answers

MODULE I: PROGRAM ORIENTATION

1 : What are the Benefits to self-employment?

1. Opportunity to do what you love
2. More flexibility
3. Expenses
4. All of these
   CORRECT ANSWER: All of these.

2 : what was propounded by Kets de Vries?

1. Psychodynamic Model
2. Locus of Control
3. Modern Entreprenuership
4. None of these
   CORRECT ANSWER: Psychodynamic Model.

3 : what is the flagship programme of KVIC?

1. PMEGP
2. RSETI
3. KVIB
4. MSME
   CORRECT ANSWER: PMEGP.

4 : What does PMEGP stands for?

1. Prime Minister’s Educatrion Generation Programme
2. Prime Minister’s Employment Generation Programme
3. Prime Minister’s Entreprenuership Generation Programme
4. Prime Minister’s Entreprenuership Graqduation Programme
   CORRECT ANSWER: Prime Minister’s Employment Generation Programme.

5 : Industrial (technical or market) expertise;Management expertise; and Entrepreneurial experience, are three types of Experiences that are considered to be important in determining?

1. Entreprenuerial Education
2. Entreprenuerial Success
3. Entreprenuerial Criticism
4. Entreprenuerial Process
   CORRECT ANSWER: Entreprenuerial Success.

MODULE II: STARTING A NEW VENTURE

1 : What is the need for financing?

1. To start a business
2. To finance new assets –machinery, cars and so on
3. Buying or combining with another business
4. All the above
   CORRECT ANSWER: All the above.

2 : What are the advantages of a Government Grant?

1. Payments are spread over a period of time which is good for budgeting.
2. They don’t have to be repaid
3. Business can sell the goods first and pay for them later.
4. None of the above
   CORRECT ANSWER: They don’t have to be repaid.

3 : What are the mistakes that should be avoided in preparing a business plan?

1. Failing to provide solid data
2. Hiding weaknesses
3. Failing to describe the product in lay terms
4. All the above
   CORRECT ANSWER: All the above.

4 : Any patents, trademarks , copyright or trade secrets held by the entrepreneur is known as?

1. Disclosure document
2. Patent
3. Intellectual property
4. None of the mentioned
   CORRECT ANSWER: Intellectual property.

5 : What are the aspects that the entrepreneur clarifies through the design of the organization?

1. Define an Organization Structure
2. State a Reward System
3. Present a Selection Criteria
4. All the above
   CORRECT ANSWER: All the above.

MODULE III: VARIOUS STATUTORY AND BUSINESS REGISTRATIONS

1 : Is there restriction on filing more than one Udyog Aadhaar Memorandum using the same Aadhaar Number?

1. yes
2. no
3. may be not
4. don’t know
   CORRECT ANSWER: yes.

2 : The NIC codes are prepared by____________?

1. CSO
2. NSSO
3. both of them
4. none of them
   CORRECT ANSWER: CSO.
   DESCRIPTION: The NIC codes are prepared by the Central Statistical Organization (CSO) under the Ministry of Statistics and Program implementation, Government of India.

3 : IE code document is issued by _______?

1. FSSAI
2. DGFT
3. CSO
4. none of them
   CORRECT ANSWER: DGFT.
   DESCRIPTION: IE code document issued by DGFT.

4 : Form 49B is for ?

1. Application for issuance of new TAN
2. Form for change or correction in TAN data for TAN allotted.
3. both of them
4. none of them
   CORRECT ANSWER: Application for issuance of new TAN.
   DESCRIPTION: There are two types of TAN applications: • Application for issuance of new TAN(Form 49B) This Application form should be used when the deductor has never applied for a TAN or does not have a TAN. • Form for change or correction in TAN data for TAN allotted.

5 : Which sector help in industrialization of rural & backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth?

1. Micro, Small & Medium Enterprises
2. Mission Antyodaya
3. both of them
4. none of them
   CORRECT ANSWER: Micro, Small & Medium Enterprises.

6 : In how many Classes are MSME classified ?

1. 2
2. 3
3. 4
4. 5
   CORRECT ANSWER: 3.
   DESCRIPTION: MSME are classified in 3 classes.

7 : NOC/PA document is issued by which department?

1. DGFT
2. FSSAI
3. both of them
4. none of them
   CORRECT ANSWER: FSSAI.
   DESCRIPTION: NOC/PA document issued by FSSAI.

8 : IPR stands for?

1. Intellectual Property Right
2. Intellectual Proper Right
3. Intellect Property Right
4. none of them
   CORRECT ANSWER: Intellectual Property Right.

9 : What is a GSTIN?

1. GST information number
2. GST identification number
3. GST ideal number
4. none of them
   CORRECT ANSWER: GST identification number.

10 : It is compulsory to quote PAN in all documents pertaining to the sale or purchase of any immovable property valued at __________?

1. 6 lakh or more
2. 5 lakh or more
3. 8 lakh or more
4. 7 lakh or more
   CORRECT ANSWER: 5 lakh or more.

MODULE IV: ENTREPRENEUR’S SKILL SETS

1 : Which is one of the needs of Time Management?

1. Enjoy Recreation
2. Allow time to spend with our families.
3. The real need for managing time effectively is to allow us to lead as fulfilling life as possible .
4. All of these
   CORRECT ANSWER: All of these.

2 : What are the Effective verbal messages?

1. Are brief
2. Concise and organized
3. Are free of Jagron
4. All of these
   CORRECT ANSWER: All of these.

3 : Which of the following is a purpose of writing a document?

1. Provide Information
2. Give instructions
3. Present your opinion
4. All of these
   CORRECT ANSWER: All of these.

4 : Which is one of the tips for Positive Attitude?

1. Take responsibility for your behavior
2. Practice self care
3. Spend time with Positive people
4. All of these
   CORRECT ANSWER: All of these.

5 : Which one is the one of the 7C’s of Communication?

1. Clear
2. Complete
3. Concise
4. All of these
   CORRECT ANSWER: All of these.
   DESCRIPTION: 7 Cs Of Effective Communication Clear Complete Concise Correct Courteous Considerate Concrete.

MODULE V: ESTABLISHING THE ENTERPRISE

1 : MSMED Stands for?

1. Mini Small & Medium Enterprises Development
2. Mini Small & Medium Enterprises Direction
3. Micro Small & Medium Enterprises Development
4. Micro Small & Medium Enterprises Direction
   CORRECT ANSWER: Micro Small & Medium Enterprises Development.

2 : What are the Techniques used for screening candidates?

1. Qualification & Knowledge
2. skills & abilities
3. Interest & experience
4. All of The Above
   CORRECT ANSWER: All of The Above.

3 : A license is required for Registration of which of the following?

1. Non Profit Company
2. Partnership
3. Soceity
4. Trust
   CORRECT ANSWER: Non Profit Company.

4 : Which of the following cannot be used as a valid ID proof?

1. Aadhar Card
2. Driving License
3. Debit/Credit Card
4. Utility Bill
   CORRECT ANSWER: Debit/Credit Card.

5 : PEST Analysis stands for?

1. Political, Economic, Social and Technological
2. Political, Economic, Social and Technical
3. Political, Economic, Socialogy and Technical
4. None of Above
   CORRECT ANSWER: Political, Economic, Social and Technological.

MODULE VI: OPERATING THE ENTERPRISE

1 : What are the effects of good housekeeping?

1. Eliminates accident and fire causes
2. Helps control property damage
3. Provides the best use of space
4. All of these
   CORRECT ANSWER: All of these.

2 : JIT refers to ________?

1. Just Interact
2. Just In Time
3. Just InfoTech
4. None of these
   CORRECT ANSWER: Just In Time.
   DESCRIPTION: The Just in Time method is where a business would maintain a very low level of inventory .

3 : Steps in implementing total quality management are _______?

1. Plan,Do,Check,Act
2. Plan,Do,Clean,Act
3. Plan,Do,Check,Delete
4. All of these
   CORRECT ANSWER: Plan,Do,Check,Act.

4 : ________is an amount owed to a supplier or vendor for goods or services that were provided in advance of payment?

1. Account Payable
2. Credit Sale
3. Accounting Receivables
4. Both A and C
   CORRECT ANSWER: Account Payable.

5 : Suppliers are suplied a probable time schedule for material requirements in which of the following?

Contract Purchasing

2. Schedule Purchasing
3. Speculative Purchasing
4. All of the above
   CORRECT ANSWER: Schedule Purchasing.

6 : Which of these industries can be classified under fund management?

1. Financial investment industry
2. Infrastructure industry
3. Public sector
4. All of the above
   CORRECT ANSWER: Financial investment industry.

7 : _ is an expense that rises or falls in direct proportion to production volume.

1. Fixed cost
2. Vaiable cost
3. Semi-Variable
4. All of these
   CORRECT ANSWER: Vaiable cost.

8 : ______is the degree of excellence of a product & service and has two aspects?

1. Frequency
2. Quality
3. Both A & B
4. None of these
   CORRECT ANSWER: Quality.

9 : Which of the following are types of Budgets for Businesses?

1. Master Budget
2. Operating Budget
3. Cash Flow Budget
4. All of these
   CORRECT ANSWER: All of these.

10 : What are the major techniques of Cost control?

1. Value Analysis
2. Method Study
3. Both A & B
4. None of these
   CORRECT ANSWER: Both A & B.

MODULE VII: MARKETING, BRANDING & SALESMANSHIP

1 : Which Payment Method appoints third party for Payment?

1. Merchant Account
2. Payment Processors
3. Payment Gateway
4. All of these
   CORRECT ANSWER: Payment Processors.

2 : __ is a term for any type of business that trade products or services or transfer any information through computer networks such as internet?

1. E-commerce
2. C-Commerce
3. Network Sharing
4. All of these
   CORRECT ANSWER: E-commerce.

3 : Which of the following is not one of major parts of e-commerce?

1. B2B
2. B2C
3. C2B
4. C2C
   CORRECT ANSWER: C2B.

4 : Under Service Marketing, how does the aspect of tangibility work?

1. They are tangible, so customer can see and touch it, before coming to the buying decision
2. They are intangible, so it is difficult to promote services
3. Both A and B
4. None of these
   CORRECT ANSWER: Both A and B.

5 : Under the __ method, services can be customised?

1. Product Marketing
2. Service Marketing
3. Both A and B
4. None of these
   CORRECT ANSWER: Service Marketing.

6 : In product marketing ________?

1. Products come to customers
2. Customers come to service
3. Both A and B
4. None of these
   CORRECT ANSWER: Products come to customers.

7 : Classify the type of advertising media ‘Television and radio advertisements’ is.

1. Product/Brand Integration
2. Print Advertising
3. Outdoor Advertising
4. None of the above
   CORRECT ANSWER: Outdoor Advertising.

8 : Which of the following are popular E-commerce models?

1. Business to Business (B2B)
2. Business to Consumer (B2C)
3. Consumer to Consumer (C2C)
4. All of These
   CORRECT ANSWER: All of These.

9 : Under Product Marketing, who comes to whom?

1. Products come to customers
2. Customers come to service
3. Services come to Consumers
4. None of these
   CORRECT ANSWER: Products come to customers.

10 : In Know Your Customer (KYC), steps are taken to ______?

1. Establish customer identity
2. Understand the nature of the customer’s activities
3. Monitoring the customer’s activities All of them
4. All of them
   CORRECT ANSWER: All of the.

MODULE VIII: UNDERSTANDING OF BANKING AND FUNDING

1 : Which part of the Project Summary gives each and every detail about the project?

1. Executive summary
2. Sensitivity analysis
3. Project Details
4. Promoters’ details
   CORRECT ANSWER: Project Details.

2 : The Reserve Bank of India gave “in-principle” licences to how many entities to launch payments banks?

1. 6
2. 10
3. 9
4. 11
   CORRECT ANSWER: 11
   DESCRIPTION: Payment Banks: On 19August, 2015, the Reserve Bank of India gave “in-principle” licences to eleven entities to launch payments banks – • Aditya Birla Nuvo • Airtel M Commerce Services • Cholamandalam Distribution Services • Department of Posts • FINO PayTech • National Securities Depository • Reliance Industries • Dilip Shanghvi, Sun Pharmaceuticals • Vijay Shekhar Sharma, Paytm • Tech Mahindra • Vodafone M-Pesa

3 : Which type of bank accounts are meant for businessmen and are never used for the purpose of investment or savings?

1. Saving Bank Account
2. Current Account
3. Recurring Deposit Account
4. Fixed Deposit Account
   CORRECT ANSWER: Current Account.

4 : Which part of the Project Summary gives the overall view of the project so that the user gets the brief information about the Project?

1. Executive summary
2. Sensitivity analysis
3. Project Details
4. Promoters’ details
   CORRECT ANSWER: Executive summary.

5 : What is the type of full service online banking that is available 24 hours a day?

1. ATM Banking
2. Digital Wallet
3. Digital Cash
4. None of these.
   CORRECT ANSWER: ATM Banking.

6 : Which type of investment policy offers services to indemnify your life, assets and money besides providing satisfactory and risk free profits?

1. Bank Fixed Deposits
2. Insurance Policies
3. Pension System
4. None of these.
   CORRECT ANSWER: Insurance Policie.

7 : The scheme applicable for agriculture headed by Small Farmers’ Agri-Business Consortium (SFAC) is _____?

1. Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
2. Venture Capital Assistance Scheme
3. Dairy Entrepreneurship Development Scheme
4. Pradhan Mantri Mudra Yojana (PMMY)
   CORRECT ANSWER: Venture Capital Assistance Scheme.

8 : What are the types of deposit accounts in India?

1. Current Accounts
2. Saving Banking Accounts
3. Fixed Deposits
4. All of the above
   CORRECT ANSWER: All of the above.

9 : What are the facilities provided by online banking to its customers?

1. Making deposit
2. Making withdrawals
3. Paying bills
4. All of the above
   CORRECT ANSWER: All of the above.

10 : The functions of a bank can be categorized into how many types?

1. 2
2. 4
3. 5
4. 1
   CORRECT ANSWER: 2.
   DESCRIPTION: Banks’ functions can be segregated into Primary and Secondary functions

MODULE IX: TAXATION AND OTHER STATUTORY COMPLIANCES

1 : CBDT stands for?

1. Central Board of Direct Taxes
2. Central Board of Diffrent Taxes
3. Central Board of Deminished Taxes
4. none of them
   CORRECT ANSWER: Central Board of Direct Taxes.

2 : The person who pays the tax, shifts the burden to the person who consumes the goods or services this comes under which type of tax?

1. Direct Tax
2. Indirect Tax
3. both of them
4. none of them
   CORRECT ANSWER: Indirect Tax.

3 : TYPES OF BUSINESS STRUCTURES are_______________?

1. One Person Company (OPC)
2. LimitedLiabilityPartnership(LLP)
3. Private Limited Company (PLC)
4. all of them
   CORRECT ANSWER: all of them.

4 : Income Tax and Wealth Tax are the part of__________?

1. Direct Tax
2. Indirect Tax
3. both of them
4. none of them
   CORRECT ANSWER: Direct Tax.

5 : A person who under the income tax act is subject to pay taxes or any other sum of money, as defined under___________ of the Act?

1. section 2 (7)
2. section 2 (5)
3. section 2 (6)
4. none of them
   CORRECT ANSWER: section 2 (7).

6 : Where the Trust is created for the benefit of a specified person or class of persons, it is known as a________?

1. Private Trust
2. Public Trust
3. cooperate trust
4. none of them
   CORRECT ANSWER: Private Trust.

7 : what will be the due date of audit?

1. September 25 of the assessment year
2. September 30 of the assessment year
3. September 22 of the assessment year
4. September 20 of the assessment year
   CORRECT ANSWER: September 30 of the assessment year.
   DESCRIPTION: due date of audit wil be September 30 of the assessment year.

8 : ____________year is the financial year immediately preceding the relevant assessment year?

1. present year
2. next year
3. Assessment Year
4. previous year
   CORRECT ANSWER: previous year.

9 : No exemption is available to the______________?

1. private religious purpose which does not benefit the public
2. indirect benefit of any particular religious community or caste
3. Income of charitable / religious trust is not invested as specified
4. all of them
   CORRECT ANSWER: all of them.

10 : Once the finance bill is approved by the parliament and gets the clearance from President of India, it becomes the _______?

1. Finance Act
2. taxation Act
3. both of them
4. none of them
   CORRECT ANSWER: Finance Act.
   DESCRIPTION: Once the finance bill is approved by the parliament and get the clearance from President of India, it became the Finance Act.

MODULE X: GOVERNMENT SCHEMES FOR MSME

1 : What is the margin percentage in Startup India loan?

1. Upto 10%
2. 10% to 25%
3. 25% to 50%
4. Above 50%
   CORRECT ANSWER: 10% to 25%.

1. 1 year to 3 years
2. 18 months to 3 years
3. 18 months to 5 years
4. None of the above
   CORRECT ANSWER: 18 months to 5 years.

3 : The benefit for a startup in Startup Scheme in case of labor law is that there will be no inspections for a period of _____?

1. 2 years
2. 3 years
3. 5 years
4. None of the above
   CORRECT ANSWER: 5 years.

4 : The purpose of Startup India loan is to meet all kinds of credit requirement for _______?

1. Manufacturing
2. Services
3. Trading sector
4. All of the above
   CORRECT ANSWER: All of the above.

5 : What is the amount of loan that can be given in Startup India scheme?

1. Upto Rs 10 lakhs
2. Rs 10 lakhs to Rs 50 lakhs
3. Rs 10 lakhs to Rs 1 crore
4. Above Rs 1 crore
   CORRECT ANSWER: Rs 10 lakhs to Rs 1 crore.

6 : Charge required by the CGTMSE for loans up to Rs.5 Lakh is ______?

1. 0.0075
2. 0.0085
3. 0.01
4. 0.015
   CORRECT ANSWER: 0.0075.

7 : What are the main objectives of the National Horticulture Mission (NHM)?

1. Provide holistic growth of the horticulture sector
2. Enhance horticulture production
3. Employment especially for unemployed youth
4. All of the above
   CORRECT ANSWER: All of the above.

8 : What is the Repayment Period in Startup India loan?

1. Maximum of 3 years
2. Maximum of 5 years
3. Maximum of 7 years
4. None of the above
   CORRECT ANSWER: Maximum of 7 years.

9 : What is the rate of interest in PSB Loans in 59 minutes?

1. Less than 5%
2. From 10% onwards
3. From 8.50% onwards
4. None of the above
   CORRECT ANSWER: From 8.50% onwards.

10 : What is the loan amount in PSB Loans in 59 minutes?

1. Less than Rs 1 lakh
2. Rs 1 lakh to Rs 5 crore
3. Rs 50 lakh to Rs 5 crore
4. Rs 1 crore to Rs 5 crore
   CORRECT ANSWER: Rs 1 lakh to Rs 5 crore.

MODULE XI: SUSTAINABILITY AND GROWTH OF BUSINESS

1 : In which strategy, sales is incremented by presenting novel goods in the current markets?

1. Market Penetration
2. Product Development
3. Market Development
4. None of the above.
   CORRECT ANSWER: Product Development.

2 : A company that provides _ to its customers stands a better chance to retain them?

1. Better support
2. Good quality product.
3. Cheap products.
4. All of the above.
   CORRECT ANSWER: Better support.

3 : What are the reasons for undertaking joint ventures?

1. Accelerating growth of the economy.
2. Introduction of new technologies.
3. Minimizing the risk of new venture.
4. All of the above.
   CORRECT ANSWER: All of the above..
   DESCRIPTION: Joint ventures within the national boundaries are taken to: • Accelerate growth of the economy; • Introduce new technology in the market; • Minimise the risk of new venture.

4 : The level in which track of sale, receipts, inventory, cash flows, resources etc. is kept _____?

1. Operational Level
2. Knowledge Level
3. Management Level
4. None of the above.
   CORRECT ANSWER: Operational Level.

5 : What does a joint arrangement of two or more businesses into one business called?

1. Merger
2. Separation
3. Reunification
4. Mixture
   CORRECT ANSWER: Merger.
   DESCRIPTION: Mergers or Amalgamations A merger is a joint arrangement of two or more businesses into one business. Laws in India use the term ‘amalgamation’ for merger.