Insights Current Affairs Quiz – 72
30 November 2015
From today onwards, we will be starting current events quiz. The quiz will have 5-10 MCQs every day. The questions are mainly framed from The Hindu and PIB news articles.
This quiz is intended to introduce you to concepts and certain important facts. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.
Hope you enjoy this quiz. If you like it, then please share it. Thank you.
INSIGHTS CURRENT EVENTS QUIZ 2015-16
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The following Quiz is based on the current events that we post every day on our website.
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Question 1 of 6
1. Question
1 points‘The state shall take steps to prohibit the slaughter of cows, calves and other milch and draught cattle and to improve their breeds’ is a provision made by which article of the Indian Constitution?
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Question 2 of 6
2. Question
1 points. Which of the following states of India border Myanmar?
- Mizoram
- Meghalaya
- Tripura
- Arunachal Pradesh
- Nagaland
Select the correct answer using codes given below:
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Question 3 of 6
3. Question
1 pointsThe International Monetary Fund representatives have given China strong signals that the yuan is likely to soon join its basket of reserve currencies, known as ‘Special Drawing Rights’, or ‘SDR’. In this context, consider the following statements:
- The currency basket of the SDR currently includes the Dollar, Euro, Yen, Pound and the Rouble
- SDR serves as the unit of account of the IMF as also of some other international organizations
Which of the above statements is/are incorrect?
Correct
Ans: a.
IMF created the SDR in 1969 to boost global liquidity as the Bretton Woods system of fixed exchange rates unraveled. SDR is not technically a currency. It gives IMF member countries the right to obtain any of the currencies in the basket — currently the dollar, euro, yen and pound — to meet balance-of-payments needs.
Holders of SDRs can obtain the above mentioned currencies in exchange for their SDRs in two ways: first, through the arrangement of voluntary exchanges between members; and second, by the IMF designating members with strong external positions to purchase SDRs from members with weak external positions.
In addition to its role as a supplementary reserve asset, the SDR serves as the unit of account of the IMF and some other international organizations.
Incorrect
Ans: a.
IMF created the SDR in 1969 to boost global liquidity as the Bretton Woods system of fixed exchange rates unraveled. SDR is not technically a currency. It gives IMF member countries the right to obtain any of the currencies in the basket — currently the dollar, euro, yen and pound — to meet balance-of-payments needs.
Holders of SDRs can obtain the above mentioned currencies in exchange for their SDRs in two ways: first, through the arrangement of voluntary exchanges between members; and second, by the IMF designating members with strong external positions to purchase SDRs from members with weak external positions.
In addition to its role as a supplementary reserve asset, the SDR serves as the unit of account of the IMF and some other international organizations.
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Question 4 of 6
4. Question
1 pointsWhich of the following statements about the Telecom Regulatory Authority of India is/are incorrect?
- It is a statutory body
- It adjudicates any dispute between two or more service providers and between a service provider and a group of consumers
Select the correct answer using codes given below:
Correct
Ans: b.
TRAI is the independent regulator of the telecommunications business in India. It was established in 1997 by an Act of Parliament to regulate telecom services and tariffs in India.
In January 2000, TRAI act was amended to establish the Telecom Disputes Settlement Appellate Tribunal (TDSAT) to take over the adjudicatory functions of the TRAI. The TDSAT was set up to resolve any dispute between a licencor and a licensee, between two or more service providers, between a service provider and a group of consumers. In addition, any direction, TRAI orders or decisions can be challenged by appealing to TDSAT.
Trai Asks Operators to Add Towers to Address Call Drop Issue
Incorrect
Ans: b.
TRAI is the independent regulator of the telecommunications business in India. It was established in 1997 by an Act of Parliament to regulate telecom services and tariffs in India.
In January 2000, TRAI act was amended to establish the Telecom Disputes Settlement Appellate Tribunal (TDSAT) to take over the adjudicatory functions of the TRAI. The TDSAT was set up to resolve any dispute between a licencor and a licensee, between two or more service providers, between a service provider and a group of consumers. In addition, any direction, TRAI orders or decisions can be challenged by appealing to TDSAT.
Trai Asks Operators to Add Towers to Address Call Drop Issue
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Question 5 of 6
5. Question
1 pointsRaghuram Rajan, the Governor of Reserve Bank of India (RBI), was recently elected as vice-chairman of the Bank of International Settlement (BIS). Which of the following statements about the BIS is/are correct?
- It is the world’s oldest international financial organization
- Once admitted as a member of the United Nations General Assembly, a country automatically becomes its member
Select the correct answer using codes given below:
Correct
Ans: a.
The Bank for International Settlements (BIS) is the world’s oldest international financial organization. It was established in May 1930. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.
It has 60 member central banks, representing countries from around the world that together make up about 95% of world GDP.
The mission of the BIS is to serve central banks in their pursuit of monetary and financial stability, to foster international cooperation in those areas and to act as a bank for central banks.
Incorrect
Ans: a.
The Bank for International Settlements (BIS) is the world’s oldest international financial organization. It was established in May 1930. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.
It has 60 member central banks, representing countries from around the world that together make up about 95% of world GDP.
The mission of the BIS is to serve central banks in their pursuit of monetary and financial stability, to foster international cooperation in those areas and to act as a bank for central banks.
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Question 6 of 6
6. Question
1 pointsThe Indian Railways will play an important role in fulfilling the country’s commitment for reduction in emission of Green House Gases. Consider the following statements:
- Successive five-year-plans have allocated less resources to the railways compared to the transport sector as a whole
- The modal share in freight traffic is lesser for the railways vis-à-vis for roads
Which of the above statements is/are incorrect?
Correct
Ans: d.
Pg 91-93, Economic Survey, 2014-15, Volume 1
“McKinsey’s Building India: Transforming the Nations’ Logistic Infrastructure (2010) study has estimated that the modal share in freight traffic stands at 36 per cent for the railways vis-à-vis 57 per cent for roads. According to the McKinsey Study (2010) continuation of the current state of affairs in India would imply the share of railways in freight traffic declining further to 25 percent by 2020”
“How much resources have flowed to railways over the years? Successive plans have allocated fewer resources to the railways compared to the transport sector as Figure 6.2A shows”
Incorrect
Ans: d.
Pg 91-93, Economic Survey, 2014-15, Volume 1
“McKinsey’s Building India: Transforming the Nations’ Logistic Infrastructure (2010) study has estimated that the modal share in freight traffic stands at 36 per cent for the railways vis-à-vis 57 per cent for roads. According to the McKinsey Study (2010) continuation of the current state of affairs in India would imply the share of railways in freight traffic declining further to 25 percent by 2020”
“How much resources have flowed to railways over the years? Successive plans have allocated fewer resources to the railways compared to the transport sector as Figure 6.2A shows”
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