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 2020. 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 AFFAIRS QUIZ 2020
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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 pointsSpecial Drawing Rights (SDR) can be used to
- Supplementing IMF member countries’ official reserves.
- Settle Balance of Payment transactions
- Bridge fiscal deficit and fund infrastructure projects
Select the correct answer code:
Correct
Solution: b)
The SDR is neither a currency nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. SDRs can be exchanged for these currencies. It cannot be used to fund infrastructure projects as it is not a currency. Same goes for settling domestic financial bills of the government.
SDR allocations can play a role in providing liquidity and supplementing member countries’ official reserves.
IMF member countries can borrow SDRs from its reserves at favorable interest rates, mostly to adjust their balance of payments to favorable positions.
Incorrect
Solution: b)
The SDR is neither a currency nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. SDRs can be exchanged for these currencies. It cannot be used to fund infrastructure projects as it is not a currency. Same goes for settling domestic financial bills of the government.
SDR allocations can play a role in providing liquidity and supplementing member countries’ official reserves.
IMF member countries can borrow SDRs from its reserves at favorable interest rates, mostly to adjust their balance of payments to favorable positions.
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Question 2 of 5
2. Question
1 pointsConsider the following statements regarding International Atomic Energy Agency (IAEA).
- The International Atomic Energy Agency (IAEA) is an international organization that seeks to ban the use of nuclear energy, and to inhibit its use for any military purpose, including nuclear weapons.
- IAEA was established through a United Nations Statute.
- IAEA reports to both the United Nations General Assembly and Security Council.
Which of the above statements is/are correct?
Correct
Solution: b)
The International Atomic Energy Agency (IAEA) is an international organization that seeks to promote the peaceful use of nuclear energy, and to inhibit its use for any military purpose, including nuclear weapons. The IAEA was established as an autonomous organisation on 29 July 1957. Though established independently of the United Nations through its own international treaty, the IAEA Statute, the IAEA reports to both the United Nations General Assembly and Security Council.
Incorrect
Solution: b)
The International Atomic Energy Agency (IAEA) is an international organization that seeks to promote the peaceful use of nuclear energy, and to inhibit its use for any military purpose, including nuclear weapons. The IAEA was established as an autonomous organisation on 29 July 1957. Though established independently of the United Nations through its own international treaty, the IAEA Statute, the IAEA reports to both the United Nations General Assembly and Security Council.
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Question 3 of 5
3. Question
1 pointsThe Central Asian countries bordering Caspian Sea are
- Tajikistan
- Uzbekistan
- Turkmenistan
Select the correct answer code:
Correct
Solution: b)
Incorrect
Solution: b)
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Question 4 of 5
4. Question
1 pointsConsider the following statements about International Court of Justice (ICJ).
- The International Court of Justice (ICJ) is the principal judicial body of the United Nations.
- The International Court of Justice is composed of 15 judges elected to five-year terms of office by the United Nations General Assembly and the Security Council.
- Judges are not eligible for re-election.
Which of the above statements is/are correct?
Correct
Solution: b)
The International Court of Justice (ICJ) is the principal judicial body of the UN. Established in 1946 to replace the Permanent Court of International Justice, the ICJ mainly operates under the statute of its predecessor, which is included in the UN Charter.
It has two primary functions: to settle legal disputes submitted by States in accordance with established international laws, and to act as an advisory board on issues submitted to it by authorized international organizations.
Members of the Court:
The International Court of Justice is composed of 15 judges elected to nine-year terms of office by the United Nations General Assembly and the Security Council. These organs vote simultaneously but separately. In order to be elected, a candidate must receive an absolute majority of the votes in both bodies. In order to ensure a measure of continuity, one third of the Court is elected every three years. Judges are eligible for re-election.
Incorrect
Solution: b)
The International Court of Justice (ICJ) is the principal judicial body of the UN. Established in 1946 to replace the Permanent Court of International Justice, the ICJ mainly operates under the statute of its predecessor, which is included in the UN Charter.
It has two primary functions: to settle legal disputes submitted by States in accordance with established international laws, and to act as an advisory board on issues submitted to it by authorized international organizations.
Members of the Court:
The International Court of Justice is composed of 15 judges elected to nine-year terms of office by the United Nations General Assembly and the Security Council. These organs vote simultaneously but separately. In order to be elected, a candidate must receive an absolute majority of the votes in both bodies. In order to ensure a measure of continuity, one third of the Court is elected every three years. Judges are eligible for re-election.
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Question 5 of 5
5. Question
1 pointsConsider the following pairs.
Regions sometimes in news Country
- Oromia Nigeria
- Bougainville Papua New Guinea
- Jubaland Saudi Arabia
- Al-Qadarif Sudan
Which of the above pairs are correctly matched?
Correct
Solution: c)
The Oromia Region is one of the nine regional states of Ethiopia.
Bougainville Island is the main island of the Autonomous Region of Bougainville of Papua New Guinea, also known as Bougainville Province.
Jubaland is an autonomous region in southern Somalia.
Al Qadarif is one of the 18 states of Sudan.
Incorrect
Solution: c)
The Oromia Region is one of the nine regional states of Ethiopia.
Bougainville Island is the main island of the Autonomous Region of Bougainville of Papua New Guinea, also known as Bougainville Province.
Jubaland is an autonomous region in southern Somalia.
Al Qadarif is one of the 18 states of Sudan.
