Insights Current Affairs Quiz (2016) – 70
14 March 2016
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 2016. 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 2016
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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
2 pointsConsider the following statements:
- Logistics cost with regard to transportation of goods in India is more as compared to China and European countries
- At present, India has five National Waterways
Which of the statements above is/are correct?
Correct
Solution: c.
“Mr. Gadkari said by promoting water transport, logistics cost, which was 18 per cent in India as compared to barely 8-10 per cent in China and 10-12 per cent in European countries, would come down significantly.”
National Waterway – 6 (Lakhipur-Bhanga) was proposed earlier, but the bill lapsed.
Incorrect
Solution: c.
“Mr. Gadkari said by promoting water transport, logistics cost, which was 18 per cent in India as compared to barely 8-10 per cent in China and 10-12 per cent in European countries, would come down significantly.”
National Waterway – 6 (Lakhipur-Bhanga) was proposed earlier, but the bill lapsed.
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Question 2 of 5
2. Question
2 pointsWhich of the following pairs is/are incorrectly matched?
- Chandrakhani Pass – Himachal Pradesh
- Seshachalam Hills – A Natural World Heritage Site
- Kakrapar Atomic Power Station – Maharashtra
Select the correct answer using the code given below:
Correct
Solution: b.
Only the first pair is correct.
Seshachalam Hills is a Biosphere Reserve and does not have the World Heritage Site tag. Kakrapar Atomic Power Station is located in Gujarat.
Incorrect
Solution: b.
Only the first pair is correct.
Seshachalam Hills is a Biosphere Reserve and does not have the World Heritage Site tag. Kakrapar Atomic Power Station is located in Gujarat.
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Question 3 of 5
3. Question
2 pointsIndia recently has imposed Minimum Import Prices (MIP) on certain steel products. In this context, consider the following statements:
- Imposing MIP can encourage money laundering activities
- MIP has the potential to hurt exports from the nation which imposes it
Which of the statements above is/are correct?
Correct
Solution: c.
“In the past, following the imposition of an MIP on marble to shield the domestic industry, there were allegations that it had led to instances of over-invoicing and in turn unaccounted money being stashed away in tax havens. The revenue authorities and investigative agencies are looking into those alleged incidents, the sources said. The Special Investigation Team (SIT) set up to probe black money, had among other things, suggested the doing away with the MIP on (items such as) marble saying it could otherwise result in money laundering activities.”
“The MIP was also hurting the engineering sector. Exports from the sector were proving costly due to an increase in raw material cost of between six and 10 per cent.”
Incorrect
Solution: c.
“In the past, following the imposition of an MIP on marble to shield the domestic industry, there were allegations that it had led to instances of over-invoicing and in turn unaccounted money being stashed away in tax havens. The revenue authorities and investigative agencies are looking into those alleged incidents, the sources said. The Special Investigation Team (SIT) set up to probe black money, had among other things, suggested the doing away with the MIP on (items such as) marble saying it could otherwise result in money laundering activities.”
“The MIP was also hurting the engineering sector. Exports from the sector were proving costly due to an increase in raw material cost of between six and 10 per cent.”
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Question 4 of 5
4. Question
2 pointsWith regard to ‘Quantitative Restrictions (QR)’ in the context of the World Trade Organisation (WTO), which of the following statements is/are incorrect?
- They are limits imposed only on the volume of goods traded by a WTO member
- Under no circumstance can a member impose QR
Select the correct answer using the code given below:
Correct
Solution: c.
“Quantitative restrictions are limits imposed on the volume or value of goods traded by a WTO member. The General Agreement on Tariffs and Trade (GATT) requires the general elimination of these restrictions — except in defined circumstances. Members’ notifications on quantitative restrictions are compiled in a WTO database which is accessible to the public.”
“The MIP is a form of quantitative restriction not seen as compliant with the World Trade Organisation norms”
Incorrect
Solution: c.
“Quantitative restrictions are limits imposed on the volume or value of goods traded by a WTO member. The General Agreement on Tariffs and Trade (GATT) requires the general elimination of these restrictions — except in defined circumstances. Members’ notifications on quantitative restrictions are compiled in a WTO database which is accessible to the public.”
“The MIP is a form of quantitative restriction not seen as compliant with the World Trade Organisation norms”
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Question 5 of 5
5. Question
2 pointsWhich of the following statements is NOT correct?
Correct
Solution: a.
An Employees’ Provident Fund (EPF) account is termed as inoperative if there has been no fresh accretion into it for three years or more.
http://www.thehindu.com/business/inoperative-epf-accounts-may-be-paid-interest/article8349035.ece
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Clarification regarding Question 1, Quiz 68, 11th March:
Statement 3 can be considered to be correct. As mentioned in this PIB link, “The above amendments to the Enemy Property Act, 1968 will plug the loopholes in the Act to ensure that the enemy properties that have been vested in the Custodian remain so and they do not revert back to the enemy subject or enemy firm.” .. It could be that because of these loopholes, the court could interpret the act ‘liberally’ – a manner which resulted in the Custodian having to divest enemy property under its custody.
Incorrect
Solution: a.
An Employees’ Provident Fund (EPF) account is termed as inoperative if there has been no fresh accretion into it for three years or more.
http://www.thehindu.com/business/inoperative-epf-accounts-may-be-paid-interest/article8349035.ece
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Clarification regarding Question 1, Quiz 68, 11th March:
Statement 3 can be considered to be correct. As mentioned in this PIB link, “The above amendments to the Enemy Property Act, 1968 will plug the loopholes in the Act to ensure that the enemy properties that have been vested in the Custodian remain so and they do not revert back to the enemy subject or enemy firm.” .. It could be that because of these loopholes, the court could interpret the act ‘liberally’ – a manner which resulted in the Custodian having to divest enemy property under its custody.
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