QUIZ – 2017: Insights Current Affairs Quiz, 12 August 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.
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0 of 5 questions completed Questions: 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. To view Solutions, follow these instructions: Click on – ‘Start Quiz’ button Solve Questions Click on ‘Quiz Summary’ button Click on ‘Finish Quiz’ button Now click on ‘View Questions’ button – here you will see solutions and links.INSIGHTS CURRENT EVENTS QUIZ 2019
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Question 1 of 5
1. Question
1 pointsConsider the following statements regarding United Nations Convention on International Settlement Agreements (UNISA).
- The United Nations General Assembly adopted the United Nations Convention on International Settlement Agreements which provides a uniform and efficient framework for the enforcement of international settlement agreements resulting from mediation.
- It aims to promote mediation as alternative and effective method of resolving trade disputes.
- India has not yet signed United Nations Convention on International Settlement Agreements (UNISA).
Which of the above statements is/are correct?
Correct
Solution: a)
Recently India signed a key UN convention on international settlement agreements. The singing of the convention is particularly important for the growth of mediation in India.
The United Nations General Assembly adopted the United Nations Convention on International Settlement Agreements Resulting from Mediation (“the Convention”) on 20th December 2018.
The convention is also known as the “Singapore Convention on Mediation” (the Convention).
The Convention provides a uniform and efficient framework for the enforcement of international settlement agreements resulting from mediation.
It aims to become essential instrument that facilitates international trade and in promotion of mediation as alternative and effective method of resolving trade disputes.
Incorrect
Solution: a)
Recently India signed a key UN convention on international settlement agreements. The singing of the convention is particularly important for the growth of mediation in India.
The United Nations General Assembly adopted the United Nations Convention on International Settlement Agreements Resulting from Mediation (“the Convention”) on 20th December 2018.
The convention is also known as the “Singapore Convention on Mediation” (the Convention).
The Convention provides a uniform and efficient framework for the enforcement of international settlement agreements resulting from mediation.
It aims to become essential instrument that facilitates international trade and in promotion of mediation as alternative and effective method of resolving trade disputes.
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Question 2 of 5
2. Question
1 pointsConsider the following statements regarding appointment of Supreme Court judges.
- The Chief Justice of India and the Judges of the Supreme Court are appointed by the President of India.
- Whenever there is any doubt about the senior most Judge to hold the office of the Chief Justice of India, the matter is decided by the Parliament.
- For appointing Judges of the Supreme Court, the recommendation of collegium to the President is binding during first instance.
Which of the above statements is/are correct?
Correct
Solution: a)
The Chief Justice of India and the Judges of the Supreme Court are appointed by the President under clause (2) of Article 124 of the Constitution.
The names are recommended by the Collegium.
The collegium sends its final recommendation to the President of India for approval. The President can either accept it or reject it. In the case it is rejected, the recommendation comes back to the collegium. If the collegium reiterates its recommendation to the President, then he/she is bound by that recommendation.
Appointment to the office of the Chief Justice of India should be of the seniormost Judge of the Supreme Court considered fit to hold the office.
Whenever there is any doubt about the fitness of the seniormost Judge to hold the office of the Chief Justice of India, consultation with other Judges as envisaged in Article 124 (2) of the Constitution would be made for appointment of the next Chief Justice of India.
Incorrect
Solution: a)
The Chief Justice of India and the Judges of the Supreme Court are appointed by the President under clause (2) of Article 124 of the Constitution.
The names are recommended by the Collegium.
The collegium sends its final recommendation to the President of India for approval. The President can either accept it or reject it. In the case it is rejected, the recommendation comes back to the collegium. If the collegium reiterates its recommendation to the President, then he/she is bound by that recommendation.
Appointment to the office of the Chief Justice of India should be of the seniormost Judge of the Supreme Court considered fit to hold the office.
Whenever there is any doubt about the fitness of the seniormost Judge to hold the office of the Chief Justice of India, consultation with other Judges as envisaged in Article 124 (2) of the Constitution would be made for appointment of the next Chief Justice of India.
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Question 3 of 5
3. Question
1 pointsConsider the following statements regarding Mission Shakti.
- Mission Shakti is a joint programme of the Defence Research and Development Organisation (DRDO) and the Indian Space Research Organisation (ISRO).
- India has tested and successfully demonstrated its capability to interdict and intercept a satellite in outer space based on complete indigenous technology.
Which of the above statements is/are correct?
Correct
Solution: c)
On March 27, 2019 India conducted Mission Shakti, an anti-satellite missile test, from the Dr. A P J Abdul Kalam Island launch complex. This was a technological mission carried out by DRDO. The satellite used in the mission was one of India’s existing satellites operating in lower orbit. The test was fully successful and achieved all parameters as per plans. The test required an extremely high degree of precision and technical capability.
The significance of the test is that India has tested and successfully demonstrated its capability to interdict and intercept a satellite in outer space based on complete indigenous technology.
With this test, India joins an exclusive group of space faring nations consisting of USA, Russia and China.
Incorrect
Solution: c)
On March 27, 2019 India conducted Mission Shakti, an anti-satellite missile test, from the Dr. A P J Abdul Kalam Island launch complex. This was a technological mission carried out by DRDO. The satellite used in the mission was one of India’s existing satellites operating in lower orbit. The test was fully successful and achieved all parameters as per plans. The test required an extremely high degree of precision and technical capability.
The significance of the test is that India has tested and successfully demonstrated its capability to interdict and intercept a satellite in outer space based on complete indigenous technology.
With this test, India joins an exclusive group of space faring nations consisting of USA, Russia and China.
-
Question 4 of 5
4. Question
1 pointsConsider the following statements regarding US Federal Reserves rate cut and its impact.
- Recently the US Federal Reserve announced the cut in interest rates, which is first since the global financial crisis broke in 2008.
- When the US Fed cuts its interest rates, the difference between the interest rates of US and India increases, thus making India more attractive for the currency carry trade.
Which of the above statements is/are correct?
Correct
Solution: c)
The US Federal Reserve has announced a quarter-percentage-point cut in interest rates — the first rate cut by the US central bank in 11 years.
- A rate cut in the US is good for emerging market economies and is projected to catalyse a debt and equity market rally in countries such as India.
- Typically, emerging economies such as India tend to have higher inflation and thereby higher interest rates than those in developed countries such as the US and Europe.
- As a result, FIIs would want to borrow money in the US at low-interest rates in dollar terms and then invest that money in bonds of emerging countries such as India in Rupee terms to earn a higher rate of interest.
- When the US Fed cuts its interest rates, the difference between interest rates of the two countries increases, thus making India more attractive for the currency carry trade.
Incorrect
Solution: c)
The US Federal Reserve has announced a quarter-percentage-point cut in interest rates — the first rate cut by the US central bank in 11 years.
- A rate cut in the US is good for emerging market economies and is projected to catalyse a debt and equity market rally in countries such as India.
- Typically, emerging economies such as India tend to have higher inflation and thereby higher interest rates than those in developed countries such as the US and Europe.
- As a result, FIIs would want to borrow money in the US at low-interest rates in dollar terms and then invest that money in bonds of emerging countries such as India in Rupee terms to earn a higher rate of interest.
- When the US Fed cuts its interest rates, the difference between interest rates of the two countries increases, thus making India more attractive for the currency carry trade.
-
Question 5 of 5
5. Question
1 pointsConsider the following statements about Financial Sector Legislative Reforms Commission (FSLRC).
- Financial Sector Legislative Reforms Commission (FSLRC) is a statutory body setup by the parliament.
- The Commission is chaired by Justice B. N. Srikrishna.
- The Commission would streamline regulatory architecture of financial markets.
Which of the above statements is/are correct?
Correct
Solution: c)
The Financial Sector Legislative Reforms Commission (FSLRC) is a body set up by the Government of India, Ministry of Finance, on 24 March 2011, to review and rewrite the legal-institutional architecture of the Indian financial sector. This Commission is chaired by a former Judge of the Supreme Court of India, Justice B. N. Srikrishna and has an eclectic mix of expert members drawn from the fields of finance, economics, public administration, law etc.
The Commission would examine financial sector legislations, including subordinate legislations. The Commission would also examine the case for greater convergence of regulations and streamline regulatory architecture of financial markets.
Incorrect
Solution: c)
The Financial Sector Legislative Reforms Commission (FSLRC) is a body set up by the Government of India, Ministry of Finance, on 24 March 2011, to review and rewrite the legal-institutional architecture of the Indian financial sector. This Commission is chaired by a former Judge of the Supreme Court of India, Justice B. N. Srikrishna and has an eclectic mix of expert members drawn from the fields of finance, economics, public administration, law etc.
The Commission would examine financial sector legislations, including subordinate legislations. The Commission would also examine the case for greater convergence of regulations and streamline regulatory architecture of financial markets.
