QUIZ – 2017: Insights Current Affairs Quiz, 09 February 2018
QUIZ – 2017: Insights Current Affairs Quiz
The following quiz will have 5-10 MCQs . 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 relevant to UPSC IAS civil services preliminary exam 2018. 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.
Please try to enjoy questions, discuss the concepts and facts they try to test from you and suggest improvements.
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INSIGHTS CURRENT EVENTS QUIZ 2017
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The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam.
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Question 1 of 5
1. Question
1 points‘Operation Cactus’, recently in the news, refers to
Correct
Solution: c.
‘Operation Cactus’ is the code name for India’s military intervention in the Maldives in 1988, following an attempted coup d’état against the government of President Maumoon Abdul Gayoom and his request for help.
http://www.thehindu.com/opinion/op-ed/drama-on-the-high-seas-30-years-ago/article22682261.ece
Incorrect
Solution: c.
‘Operation Cactus’ is the code name for India’s military intervention in the Maldives in 1988, following an attempted coup d’état against the government of President Maumoon Abdul Gayoom and his request for help.
http://www.thehindu.com/opinion/op-ed/drama-on-the-high-seas-30-years-ago/article22682261.ece
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Question 2 of 5
2. Question
1 pointsConsider the following statements in the context of the Indian economy:
1.The Gross Fixed Capital Formation (GFCF) as a percentage of GDP has gradually declined since mid-2000s
- Savings rate as a percentage of GDP has been gradually rising since mid-2000s
Which of the statements given above is/are correct?
Correct
Solution: a.
“India’s unprecedented climb to historic high levels of investment and saving rates in the mid- 2000s has been followed by a pronounced, albeit gradual, decline. This current episode of investment and saving slowdown is still ongoing.”Source/Improvisation: http://www.thehindu.com/opinion/op-ed/the-formal-informal-divide/article22682258.ece;
Ch-3, Economic Survey 2017-18;
Incorrect
Solution: a.
“India’s unprecedented climb to historic high levels of investment and saving rates in the mid- 2000s has been followed by a pronounced, albeit gradual, decline. This current episode of investment and saving slowdown is still ongoing.”Source/Improvisation: http://www.thehindu.com/opinion/op-ed/the-formal-informal-divide/article22682258.ece;
Ch-3, Economic Survey 2017-18;
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Question 3 of 5
3. Question
1 pointsConsider the following statements in the context of the Indian economy:
1.The government slipping on its fiscal goal causes the crowding out effect
2.The fiscal deficit has been budgeted at 3.3% of GDP for 2018-19, 3.1% for 2019-20 and 3% for 2020-21
Which of the statements given above is/are correct?
Correct
Solution: c.
Regarding Statement 1: A situation when increased interest rates lead to a reduction in private investment spending such that it dampens the initial increase of total investment spending is called crowding out effect.
Regarding Statement 2: The government now aims to reduce its debt-to-GDP ratio to 48.8% in 2018-19, 46.7% in 2019-20 and 44.6% in 2020-21, while fiscal deficit as a percentage of GDP is targeted to be reduced to 3.3%, 3.1% and 3%, respectively during the same period.
https://economictimes.indiatimes.com/definition/crowding-out-effect;
Improvisation: http://www.thehindu.com/opinion/op-ed/the-formal-informal-divide/article22682258.ece;
Incorrect
Solution: c.
Regarding Statement 1: A situation when increased interest rates lead to a reduction in private investment spending such that it dampens the initial increase of total investment spending is called crowding out effect.
Regarding Statement 2: The government now aims to reduce its debt-to-GDP ratio to 48.8% in 2018-19, 46.7% in 2019-20 and 44.6% in 2020-21, while fiscal deficit as a percentage of GDP is targeted to be reduced to 3.3%, 3.1% and 3%, respectively during the same period.
https://economictimes.indiatimes.com/definition/crowding-out-effect;
Improvisation: http://www.thehindu.com/opinion/op-ed/the-formal-informal-divide/article22682258.ece;
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Question 4 of 5
4. Question
1 pointsOff the coast of which among the following places was a century-old shipwreck recently unearthed, followed by the discovery of a second shipwreck and the presence of the critically endangered species Goliath grouper?
Correct
Solution: a.
In what could catapult Visakhapatnam into a top scuba diving destination in the world, a second shipwreck with a critically endangered species of Goliath grouper (considered to be the keystone species of an ecosystem) was discovered by a team of experienced divers and diving instructors recently in the sea off Bheemunipatnam, 45 km from the city of Vishakhapatnam. This comes a month after a century-old shipwreck was unearthed in the region.
Incorrect
Solution: a.
In what could catapult Visakhapatnam into a top scuba diving destination in the world, a second shipwreck with a critically endangered species of Goliath grouper (considered to be the keystone species of an ecosystem) was discovered by a team of experienced divers and diving instructors recently in the sea off Bheemunipatnam, 45 km from the city of Vishakhapatnam. This comes a month after a century-old shipwreck was unearthed in the region.
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Question 5 of 5
5. Question
1 pointsSection 3 of the Indian Patents Act, 1970 belongs to the chapter titled
Correct
Solution: d.
- As per Section 2(1)(ja) (definition of ‘inventive step’) of the Patents Act, the product in question must feature a technical advance over what came before that’s not obvious to a skilled person. Because secondary patents for pharmaceuticals are often sought for trivial variants, they typically fail to qualify as an invention.
- Further, when a medicine is merely a variant of a known substance, Section 3(d) necessitates a demonstration of improvement in its therapeutic efficacy.
- Section 3(d) is complemented by other exceptions to patentability: Section 3(e) ensures that patents for combinations of known substances are allowed only if there is synergistic effect, while Section 3(i) ensures that no exclusivity can be claimed over methods of treatment.
The Act: http://www.ipindia.nic.in/writereaddata/Portal/IPOAct/1_31_1_patent-act-1970-11march2015.pdf;
Improvisation: http://www.thehindu.com/opinion/op-ed/biologics-patents-and-drug-prices/article22682251.ece
Incorrect
Solution: d.
- As per Section 2(1)(ja) (definition of ‘inventive step’) of the Patents Act, the product in question must feature a technical advance over what came before that’s not obvious to a skilled person. Because secondary patents for pharmaceuticals are often sought for trivial variants, they typically fail to qualify as an invention.
- Further, when a medicine is merely a variant of a known substance, Section 3(d) necessitates a demonstration of improvement in its therapeutic efficacy.
- Section 3(d) is complemented by other exceptions to patentability: Section 3(e) ensures that patents for combinations of known substances are allowed only if there is synergistic effect, while Section 3(i) ensures that no exclusivity can be claimed over methods of treatment.
The Act: http://www.ipindia.nic.in/writereaddata/Portal/IPOAct/1_31_1_patent-act-1970-11march2015.pdf;
Improvisation: http://www.thehindu.com/opinion/op-ed/biologics-patents-and-drug-prices/article22682251.ece
