QUIZ – 2017: Insights Current Affairs Quiz, 24 October 2019
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.
Hope you enjoy this quiz. If you like it, then please share it. Thank you.
INSIGHTS CURRENT EVENTS QUIZ 2019
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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 pointsConsider the following statements regarding Senior Citizens Savings Scheme (SCSS).
- Only individuals who are 60 or above the age of 60 can avail the benefits of Senior Citizens Savings Scheme.
- Among the various small savings scheme, Senior Citizens Savings Scheme offers the highest rate of interest.
- Interest earned from the scheme is fully taxable.
Which of the above statements is/are correct?
Correct
Solution: c)
With high returns, Senior Citizens Savings Scheme (SCSS) is the simplest investment options for those who are above the age of 60. Designed to benefit the senior citizens, the scheme was launched in 2004. Available through several public and private sector banks and India Post offices.
Any individual who is 60 or above the age of 60 can avail the benefits of Senior Citizens Savings Scheme. Those who have attained the age of 55 years or more but less than 60 years can also open their accounts under this scheme if they have opted for voluntary retirement. Defence personnel who are above the age 50 can also avail this benefit.
Among the various small savings scheme, Senior Citizens Savings Scheme offers the highest rate of interest. Currently, the interest rate is set at 8.6% for July to September quarter, 2019.
Accounts opened under Senior Citizens Savings Scheme has a tenure of five years. One can extend the account for another three years after it matures.
Investments of up to ₹1.5 lakh is eligible for deduction under section 80C of the Income Tax Act. However, interest earned from the scheme is fully taxable. In case, the interest earned is more than ₹40,000 in a financial year, tax deducted at source (TDS) is applicable to the interest earned.
Incorrect
Solution: c)
With high returns, Senior Citizens Savings Scheme (SCSS) is the simplest investment options for those who are above the age of 60. Designed to benefit the senior citizens, the scheme was launched in 2004. Available through several public and private sector banks and India Post offices.
Any individual who is 60 or above the age of 60 can avail the benefits of Senior Citizens Savings Scheme. Those who have attained the age of 55 years or more but less than 60 years can also open their accounts under this scheme if they have opted for voluntary retirement. Defence personnel who are above the age 50 can also avail this benefit.
Among the various small savings scheme, Senior Citizens Savings Scheme offers the highest rate of interest. Currently, the interest rate is set at 8.6% for July to September quarter, 2019.
Accounts opened under Senior Citizens Savings Scheme has a tenure of five years. One can extend the account for another three years after it matures.
Investments of up to ₹1.5 lakh is eligible for deduction under section 80C of the Income Tax Act. However, interest earned from the scheme is fully taxable. In case, the interest earned is more than ₹40,000 in a financial year, tax deducted at source (TDS) is applicable to the interest earned.
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Question 2 of 5
2. Question
1 pointsConsider the following statements regarding Governors of States in India.
- According to Constitution, the same person can be the Governor of two or more states.
- The impeachment process is similar to that of the President of India.
- Governor determines the amount payable by the Government of Assam, Meghalaya, Tripura and Mizoram to an autonomous Tribal District Council as royalty accruing from licenses for mineral exploration.
Which of the above statements is/are correct?
Correct
Solution: b)
According to 7th Constitutional Amendment Act 1956, the same person can be the Governor of two or more states.
Appointment: The governors and lieutenant-governors are appointed by the president.
Removal: The term of governor’s office is normally 5 years but it can be terminated earlier by: Dismissal by the president on the advice of the prime minister of the country, at whose pleasure the governor holds office or Resignation by the governor. Thus, the term is subject to pleasure of the president.
There is no provision of impeachment, as it happens for the president.
Determines the amount payable by the Government of Assam, Meghalaya, Tripura and Mizoram to an autonomous Tribal District Council as royalty accruing from licenses for mineral exploration.
Incorrect
Solution: b)
According to 7th Constitutional Amendment Act 1956, the same person can be the Governor of two or more states.
Appointment: The governors and lieutenant-governors are appointed by the president.
Removal: The term of governor’s office is normally 5 years but it can be terminated earlier by: Dismissal by the president on the advice of the prime minister of the country, at whose pleasure the governor holds office or Resignation by the governor. Thus, the term is subject to pleasure of the president.
There is no provision of impeachment, as it happens for the president.
Determines the amount payable by the Government of Assam, Meghalaya, Tripura and Mizoram to an autonomous Tribal District Council as royalty accruing from licenses for mineral exploration.
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Question 3 of 5
3. Question
1 pointsConsider the following statements regarding Automatic Exchange of Information (AEOI).
- Automatic Exchange of Information (AEOI) is a periodic transmission of bulk taxpayer information by the source country to the residence country.
- It is the exchange of information between countries without having to request it.
- It is usually carried out under Common Reporting Standard (CRS)of OECD.
Which of the above statements is/are correct?
Correct
Solution: d)
Automatic Exchange of Information (AEOI) Regime between Switzerland and India kicked off from September 1, 2019. Under this mechanism, India will start receiving information on all financial accounts held by Indian residents in Switzerland, for the year 2018.
Automatic Exchange of Information (AEOI) is systematic and periodic transmission of “bulk” taxpayer information by the source country to the residence country, which is possible under most of the Double Taxation Avoidance Agreements (DTAAs) and Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC).
It aims to reduce global tax evasion.
It is to be carried out under Common Reporting Standard (CRS) of OECD.
AEOI is the exchange of information between countries without having to request it.
Incorrect
Solution: d)
Automatic Exchange of Information (AEOI) Regime between Switzerland and India kicked off from September 1, 2019. Under this mechanism, India will start receiving information on all financial accounts held by Indian residents in Switzerland, for the year 2018.
Automatic Exchange of Information (AEOI) is systematic and periodic transmission of “bulk” taxpayer information by the source country to the residence country, which is possible under most of the Double Taxation Avoidance Agreements (DTAAs) and Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC).
It aims to reduce global tax evasion.
It is to be carried out under Common Reporting Standard (CRS) of OECD.
AEOI is the exchange of information between countries without having to request it.
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Question 4 of 5
4. Question
1 pointsConsider the following statements about Mobilise Your City (MYC) programme
- The MYC aims to reduce Green House Gas (GHG) emissions related to urban transport
- India and France have signed an implementation agreement on “MOBILISE YOUR CITY” (MYC)
- It was launched at 24th Conference of Parties (COP24) meeting in Katowice, Poland.
Which of the above statements is/are correct?
Correct
Solution: a)
Mobilise Your City (MYC) was launched at 21st Conference of Parties (COP21) meeting in December, 2015. India and France have signed an implementation agreement on “MOBILISE YOUR CITY” (MYC).
The MYC aims to reduce the Green House Gas (GHG) emissions related to urban transport by implementing urban mobility plans at local level and to help India at national level to improve their sustainable transport policy.
Incorrect
Solution: a)
Mobilise Your City (MYC) was launched at 21st Conference of Parties (COP21) meeting in December, 2015. India and France have signed an implementation agreement on “MOBILISE YOUR CITY” (MYC).
The MYC aims to reduce the Green House Gas (GHG) emissions related to urban transport by implementing urban mobility plans at local level and to help India at national level to improve their sustainable transport policy.
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Question 5 of 5
5. Question
1 pointsConsider the following statements regarding Cyberdome.
- It is the National Cyber Coordination Centre’s premier facility dedicated to prevent cybercrime and mitigate cybersecurity threats.
- Cyberdome has developed cyber-surveillance tools to detect and convict those responsible for industrial espionage.
Which of the above statements is/are correct?
Correct
Solution: b)
Cyberdome is based at an inconspicuous office on the Technopark campus here in Thiruvananthapuram. It is the Kerala Police Department’s premier facility dedicated to prevent cybercrime and mitigate cybersecurity threats to the State’s critical information infrastructure.
Cyberdome has developed cyber-surveillance tools to detect and convict those responsible for industrial espionage.
Cyberdome has used social engineering as the lynchpin of its policing strategy to snoop on radical groups that use the net for extremist activities.
Cyberdome has launched a covert cyber-surveillance and infiltration programme to crack down on child pornography.
Incorrect
Solution: b)
Cyberdome is based at an inconspicuous office on the Technopark campus here in Thiruvananthapuram. It is the Kerala Police Department’s premier facility dedicated to prevent cybercrime and mitigate cybersecurity threats to the State’s critical information infrastructure.
Cyberdome has developed cyber-surveillance tools to detect and convict those responsible for industrial espionage.
Cyberdome has used social engineering as the lynchpin of its policing strategy to snoop on radical groups that use the net for extremist activities.
Cyberdome has launched a covert cyber-surveillance and infiltration programme to crack down on child pornography.