WPI CPI MCQ for RBI Grade B (Finance Section)

Dear aspirants,
We are presenting you the WPI CPI MCQ for RBI Grade B Finance Section of the exam.These questions will cover the topics of Wholesale Price Index and Consumer Price Index which are very important from exam point of view. Also do read the answers provided at the end of quiz.

Q1. Which among the following is not one of the components of Wholesale Price Index (WPI)?

1. Fuel & Power
2. Primary Articles
3. Manufactures Products
4. Services

Q2. How many components are there in Wholesale Price Index (WPI)?

1. Four
2. Three
3. Two
4. One

Q3. Which among the following has highest weightage in Wholesale Price Index (WPI)?

1. Manufactured Products
2. Primary Artciles
3. Fuel & Power
4. All have equal weightage

Q4. How many commodities are there in Wholesale Price Index (WPI) basket?

1. 585
2. 626
3. 697
4. 711

Q5. Which among the following items are included in Wholesale Price Index (WPI) basket?

1. Goods only
2. Services only
3. Goods and Services both
4. None of these

Q6. Who compiles and publishes the Wholesale Price Index in India?

1. Central Statistics Office
2. Department of Financial Services
3. Office of the Economic Adviser
4. Indian Institute of Statistics

Q7. What is the current base year of Wholesale Price Index in India?

1. 2001-2002
2. 2004-2005
3. 2010-2011
4. 2011-2012

Q8. Who compiles and publishes the Consumer Price Index in India?

1. Central Statistics Office
2. Department of Financial Services
3. Office of the Economic Adviser
4. Indian Institute of Statistics

Q9. Which among the following items are included in Consumer Price Index (WPI) basket?

1. Goods only
2. Services only
3. Goods and Services both
4. None of these

Q10. How many items are there in Consumer Price Index (WPI) rural basket?

1. 440
2. 448
3. 450
4. 460

Q11. How many items are there in Consumer Price Index (WPI) urban basket?

1. 440
2. 448
3. 450
4. 460

Q12. What is the current base year of Consumer Price Index in India?

1. 2010
2. 2011
3. 2012
4. 2014

Answers

1. 4
   Services is not included in WPI.
2. 2
   There are three components of WPI viz. Manufactured Products, Primary Articles and Fuel & Power.
3. 1
   The weightage of three components are: Manufactured Products (64.20%), Primary Articles (22.60%) and Fuel & Power (13.10%).
4. 3
   WPI basket includes 697 commodities.
5. 1
   WPI represents the Wholesale Price Index of goods only.
6. 3
   Wholesale Price Index (WPI) is computed by the Office of the Economic Adviser in Ministry of commerce & Industry, Government of India.
7. 4
   The base year of All-India WPI has been revised from 2004-05 to 2011-12 in 2017.
8. 1
9. 3
   CPI measures both goods and services.
10. 2
    CPI basket for rural includes 448 items
11. 4
    CPI basket for urban includes 460 items
12. 3

You may also like to read following MCQs for RBI Grade B exam: 

• [Part 3]: BASEL questions
• Read SIDBI Quiz
• MCQ on RBI
• Price Index and Financial Instruments MCQ

Click to go to RBI Grade B Preparation Page  | Click to read more such quizzes

Tags: WPI CPI MCQ for RBI Grade B, WPI CPI MCQ for RBI Grade B, WPI CPI MCQ, WPI CPI MCQ for RBI Grade B Finance section