Insights Current Affairs Quiz
09 September 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 news articles.
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 7
1. Question
Which of the following statements about “Purchasing Managers’ Index” (PMI) are correct?
- It is an indicator of the economic health of the manufacturing sector only
- A reading under 50 represents a contraction
- The PMI is a biannual release
Select the answer using the codes given below:
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Question 2 of 7
2. Question
Consider the following statements with regard to base rate computation by banks in India:
- At present, banks follow different methodologies for computing their Base Rate
- The RBI regards Base Rates calculated based on average-cost-of-funds method as most sensitive to changes in the policy rates from the extant methods being utilized
Choose the correct answer:
Correct
Ans 2: a.
“It was observed that Base Rates based on marginal cost of funds are more sensitive to changes in the policy rates,” In the first Bi-monthly Monetary Policy Statement this fiscal the RBI had stated that in order to improve the efficiency of monetary policy transmission, it will encourage banks to move in a time-bound manner to marginal-cost-of-funds-based determination of their Base Rate.
What is marginal cost of funds?
Cost of funding one additional loan, assuming that the bank’s cost of funds remains the same.
So for ex, if RBI reduces interest rates, clearly banks have greater access to funds than earlier, at the same costs. This now means their cost of funding additional loans reduce. Thus, linking changes in policy rates to base rates (based on the marginal-cost-of-funds method) would promote effective transmission of policy rates.
For additional reading,
http://www.investopedia.com/terms/m/marginal-cost-of-funds.asp
Incorrect
Ans 2: a.
“It was observed that Base Rates based on marginal cost of funds are more sensitive to changes in the policy rates,” In the first Bi-monthly Monetary Policy Statement this fiscal the RBI had stated that in order to improve the efficiency of monetary policy transmission, it will encourage banks to move in a time-bound manner to marginal-cost-of-funds-based determination of their Base Rate.
What is marginal cost of funds?
Cost of funding one additional loan, assuming that the bank’s cost of funds remains the same.
So for ex, if RBI reduces interest rates, clearly banks have greater access to funds than earlier, at the same costs. This now means their cost of funding additional loans reduce. Thus, linking changes in policy rates to base rates (based on the marginal-cost-of-funds method) would promote effective transmission of policy rates.
For additional reading,
http://www.investopedia.com/terms/m/marginal-cost-of-funds.asp
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Question 3 of 7
3. Question
With reference to the Smart National Common Mobility Card (NCMC), consider the following statements:
- It has been launched by the Ministry of Finance
- It will be integrated with the RuPay card gradually
- It can be used as a credit/debit card
- It also enables seamless travel by different metros and other transport systems across the country
Which of the above are incorrect?
Correct
Ans 3: a.
http://pib.nic.in/newsite/PrintRelease.aspx?relid=126513
“Use smart card to travel anywhere in India” PG15, The Hindu
Incorrect
Ans 3: a.
http://pib.nic.in/newsite/PrintRelease.aspx?relid=126513
“Use smart card to travel anywhere in India” PG15, The Hindu
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Question 4 of 7
4. Question
The Constitution, under the Sixth Schedule, contains special provisions for the administration of tribal areas in which of the following states?
- Assam
- Nagaland
- Manipur
- Mizoram
- Tripura
- Meghalaya
Select the answer using the codes given below:
Correct
Ans 4: c.
CH-37 (Scheduled and Tribal Areas), Indian Polity by M Lakshmikanth 4th Edition
“…one possible amicable solution for the government is to implement the Sixth Schedule in the hill areas. Under such a political arrangement, the Kukis and Nagas would enjoy autonomy in their respective areas but remain within the State of Manipur…”
http://www.thehindu.com/opinion/columns/manipur-on-the-brink/article7604306.ece
Incorrect
Ans 4: c.
CH-37 (Scheduled and Tribal Areas), Indian Polity by M Lakshmikanth 4th Edition
“…one possible amicable solution for the government is to implement the Sixth Schedule in the hill areas. Under such a political arrangement, the Kukis and Nagas would enjoy autonomy in their respective areas but remain within the State of Manipur…”
http://www.thehindu.com/opinion/columns/manipur-on-the-brink/article7604306.ece
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Question 5 of 7
5. Question
Consider the following statements regarding the Public Accounts Committee:
- It is constituted by the President of India every year.
- The Chairman of the committee is appointed by the Speaker of Lok Sabha.
- A Minister is not eligible to be elected as a member of the Committee.
Which of the above statements is/are correct?
Correct
Ans 4: c.
Explanation: It is constituted by the Parliament of India.
Reference: https://en.wikipedia.org/wiki/Public_Accounts_Committee_(India).
Incorrect
Ans 4: c.
Explanation: It is constituted by the Parliament of India.
Reference: https://en.wikipedia.org/wiki/Public_Accounts_Committee_(India).
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Question 6 of 7
6. Question
The Public Liability Insurance (PLI) Act, 1991 is administered by:
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Question 7 of 7
7. Question
Consider the following statements regarding the Central Pollution Control Board (CPCB):
- It is a statutory organization under the Ministry of Environment and Forests (MoEF).
- It is also entrusted with the powers and functions under the Air (Prevention and Control of Pollution) Act, 1981.
Which of the above statements is/are correct?
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