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Which of the following option is correct for the given statements about Gauge design? Statement 1: ‘No Go’ gauges should put in the condition of maximum impassability in the inspection. Statement 2: ‘Go’ plug gauge corresponds to a minimum limit.

Correct Answer: T, T
‘Go’ plug gauge corresponds to the minimum limit of the hole, while the ‘No Go’ gauge is the size of maximum limit. But ‘Go’ snap gauge is of maximum limit of shaft and ‘No Go’ corresponds to a minimum limit.

Which of the following option is correct for given statements? Statement 1: Slip gauge and its accessories can be used as a limit gauge. Statement 2: Slip gauge and accessories can be used for the measurement of plug gauge but not for ring gauges.

Which of the following option is true for given statements regarding gauges for tapers? Statement 1: Use of double ended gauges is very important in limit gauges for tapers. Statement 2: Gauges should be packed in non-absorbent paper.

Which of the following statements are correct?
1. A put option is said to bein the money or favourable for the option holder when the strike price is higher than the spot price.
2. A put option is said to be out of money when the strike price is lower than the market price.
3. Fir an option writer the maximum gain is the amount of premium received by the put option holder.

Consider the below statements. (i) Inspection is the process of measuring the quality of a product or service in terms of established standards. (ii) Inspection is the art of comparing materials, products or performances with established standards. (iii) Inspection is the art of applying tests, preferably by the aid of measuring appliances to observe whether a given item of product is with n the specified limits of variability. (iv) Inspection is not a tool for controlling the quality of the product. Which of the above statements are correct?

Which of the following option is correct for given statements about plug gauges for self-holding tapers? Statement 1: Plug is inserted with high pressure for checking taper. Statement 2: Morse taper is a type of self-holding taper.

Which of the following statements about vacuum gauges are correct? Statement 1: Thermal vacuum gauges sense the cooling effect of a heated filament. Statement 2: Thermal vacuum gauges designed to measure high pressures.

Which of the following option is correct for given statements? Statement 1: Master height gauge can store measurement in memory. Statement 2: Functioning of master height gauges is slower than electronic digital readout height gauge.

Which of the following statements are true/false?
1. A minimum rate of wages for the time spent by employees for the production of output is minimum time rate.
2. Minimum piece rate is the rate based on the quantity of the output employees have produced.
3. The guaranteed time rate is a minimum rate of remuneration to apply in the case of employees employed on piece work for the purpose of securing to such employees a minimum rate of wages on a time work basis.
4. A minimum rate of remuneration to apply in the case of employees employed on piece work for the purpose of securing to such employees a minimum rate of wages on a time work basis is overtime rate.

Which of the following option is correct for the given statements about plain plug gauges? Statement 1: Cylindrical plugs are used for diameter above 100 mm. Statement 2: For very large holes, spherically ended rods are used.

The following two statements relate to financial derivatives. Choose the correct answer for statements being correct or incorrect.
Statement I When an option is allowed to be exercised only on the maturity date, it is called an American option.
Statement II If the option holder does not lose or gain whether he exercise his option or buys or sells the asset form the market, the option is said to be at-the-money.