Insights Current Affairs Quiz – 67
20 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 pointsIn 2003, the Election Commission issued an order directing every candidate seeking election to the Parliament or a State Legislature to furnish on his nomination paper some information. Consider the following statements:
- Has the candidate been convicted, acquitted or discharged in any criminal offence in the past?
- The assets, including bank balances, of a candidate and his/her spouse and that also of dependents
- Liabilities, viz. are there any dues of any public financial institution or government dues?
The order seeks which of the above information to be furnished by a candidate?
Correct
Ans: d.
“One hundred and sixty MLAs from Bihar’s outgoing 243-strong Assembly are up for re-election this time. While the average assets of these 160 MLAs, as declared by them in their election affidavits, were Rs. 86.41 lakh in 2010, their average assets are now Rs. 2.57 crore.”
http://www.thehindu.com/elections/bihar2015/sitting-bihar-mlas-assets-triple/article7834572.ece
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Page 66.3, ‘Electoral Reforms’, Indian Polity by M Laxmikanth 4th Edition
Incorrect
Ans: d.
“One hundred and sixty MLAs from Bihar’s outgoing 243-strong Assembly are up for re-election this time. While the average assets of these 160 MLAs, as declared by them in their election affidavits, were Rs. 86.41 lakh in 2010, their average assets are now Rs. 2.57 crore.”
http://www.thehindu.com/elections/bihar2015/sitting-bihar-mlas-assets-triple/article7834572.ece
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Page 66.3, ‘Electoral Reforms’, Indian Polity by M Laxmikanth 4th Edition
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Question 2 of 6
2. Question
1 pointsThe ‘Standard for Automatic Exchange of Financial Account Information in Tax Matters’ is one which will most effectively tackle tax evasion while minimising costs to governments and business. This Standard has been developed by
Correct
Ans: d.
This article also appeared in the Hindu on 3rd November.
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The OECD and G20 developed the Standard with the input of other jurisdictions and in consultation with the financial industry.
The new global standard on Automatic Exchange of Information (AEOI) reduces the possibility for tax evasion. It provides for the exchange of non-resident financial account information with the tax authorities in the account holders’ country of residence. Participating jurisdictions that implement AEOI send and receive pre-agreed information each year, without having to send a specific request.
AEOI will enable the discovery of formerly undetected tax evasion.
- It will enable governments to recover tax revenue lost to non-compliant taxpayers, and
- will further strengthen international efforts to increase transparency, cooperation, and accountability among financial institutions and tax administrations.
Additionally, AEOI will generate secondary benefits by increasing voluntary disclosures of concealed assets and by encouraging taxpayers to report all relevant information.
Incorrect
Ans: d.
This article also appeared in the Hindu on 3rd November.
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The OECD and G20 developed the Standard with the input of other jurisdictions and in consultation with the financial industry.
The new global standard on Automatic Exchange of Information (AEOI) reduces the possibility for tax evasion. It provides for the exchange of non-resident financial account information with the tax authorities in the account holders’ country of residence. Participating jurisdictions that implement AEOI send and receive pre-agreed information each year, without having to send a specific request.
AEOI will enable the discovery of formerly undetected tax evasion.
- It will enable governments to recover tax revenue lost to non-compliant taxpayers, and
- will further strengthen international efforts to increase transparency, cooperation, and accountability among financial institutions and tax administrations.
Additionally, AEOI will generate secondary benefits by increasing voluntary disclosures of concealed assets and by encouraging taxpayers to report all relevant information.
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Question 3 of 6
3. Question
1 pointsConsider the following pairs:
Stage Reactors
- First: Pressurised Heavy Water Reactors
- Second: Thorium-based Reactors
- Third: Fast Breeder Reactors
Which of the above pairs, with respect to India’s 3-stage nuclear power programme, are incorrectly matched?
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Question 4 of 6
4. Question
1 pointsConsider the following statements:
- In thorium-fuelled reactors, it is Uranium-233 that undergoes fission to produce electricity
- India has some of the world’s largest sources of plutonium
Which of the above statements is/are incorrect?
Correct
Ans: b.
India has some of the world’s largest sources of thorium.
“In the final stage, a mix of thorium and uranium fuels the reactors. The thorium transmutes to U-233 as in the second stage, which powers the reactor. Fresh thorium can replace the depleted thorium in the reactor core, making it essentially a thorium-fuelled reactor even though it is the U-233 that is undergoing fission to produce electricity.”
http://www.thehindu.com/opinion/op-ed/fast-forwarding-to-thorium/article7834156.ece
Incorrect
Ans: b.
India has some of the world’s largest sources of thorium.
“In the final stage, a mix of thorium and uranium fuels the reactors. The thorium transmutes to U-233 as in the second stage, which powers the reactor. Fresh thorium can replace the depleted thorium in the reactor core, making it essentially a thorium-fuelled reactor even though it is the U-233 that is undergoing fission to produce electricity.”
http://www.thehindu.com/opinion/op-ed/fast-forwarding-to-thorium/article7834156.ece
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Question 5 of 6
5. Question
1 pointsConsider the following statements about the Asia Pacific Economic Cooperation (APEC):
- It is an organisation which is consensus based
- India has an ‘observer’ status at the forum
Which of the above statements is/are correct?
Correct
Ans: c.
“APEC is an organisation which is consensus based. So each of the APEC members has to agree to expansion of the APEC membership. And no discussion in APEC this year has focused on that topic,” Mr. Matthews said.
India has been an observer at the forum since 2011 and a membership would have been in tune with the Modi government’s ‘Act East Policy,’ the purported improvement it claims to have brought about in the earlier ‘Look East Policy.’
http://www.thehindu.com/news/indias-apec-membership-not-on-the-agenda-says-us/article7834329.ece
Incorrect
Ans: c.
“APEC is an organisation which is consensus based. So each of the APEC members has to agree to expansion of the APEC membership. And no discussion in APEC this year has focused on that topic,” Mr. Matthews said.
India has been an observer at the forum since 2011 and a membership would have been in tune with the Modi government’s ‘Act East Policy,’ the purported improvement it claims to have brought about in the earlier ‘Look East Policy.’
http://www.thehindu.com/news/indias-apec-membership-not-on-the-agenda-says-us/article7834329.ece
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Question 6 of 6
6. Question
1 pointsIndia is a member of
Correct
Ans: d.
There are currently four Multilateral Export Control Regimes, to none of which India has so far been granted membership.
- The Wassenaar Arrangement on Export Controls for Conventional Arms and Dual-Use Goods and Technologies
- The Nuclear Suppliers Group (NSG), for the control of nuclear related technology
- The Australia Group (AG) for control of chemical and biological technology that could be weaponised
- The Missile Technology Control Regime for the control of rockets and other aerial vehicles capable of delivering weapons of mass destruction
http://www.thehindu.com/news/national/india-pushes-for-nsg-membership/article7834737.ece
Incorrect
Ans: d.
There are currently four Multilateral Export Control Regimes, to none of which India has so far been granted membership.
- The Wassenaar Arrangement on Export Controls for Conventional Arms and Dual-Use Goods and Technologies
- The Nuclear Suppliers Group (NSG), for the control of nuclear related technology
- The Australia Group (AG) for control of chemical and biological technology that could be weaponised
- The Missile Technology Control Regime for the control of rockets and other aerial vehicles capable of delivering weapons of mass destruction
http://www.thehindu.com/news/national/india-pushes-for-nsg-membership/article7834737.ece
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