Daily Current Affairs Quiz-18 March 2024
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The Daily Current Affairs Quiz questions are based on various national and regional newspapers, including government news sources.
The questions are framed on happenings around you to enhance your competitiveness for news based concepts and facts.
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Question 1 of 5
1. Question
Noctis Volcano, sometimes seen in news is located in which planet?
Correct
(b) Mars
Noctis Volcano is a newly discovered volcano on Mars, located just south of the equator. The discovery of Noctis Volcano could lead to new research into the geological evolution of Mars and future exploration. The volcano has a complex history of modification, which may be due to fracturing and thermal erosion.
The volcano, which has been provisionally named “Noctis Mons,” reaches 29,600 feet (9,022 meters). That’s about the same as Mauna Loa, one of the five volcanoes that forms the island of Hawaii. Noctis Mons is taller than Mount Everest but becomes only the seventh tallest volcano on Mars.Incorrect
(b) Mars
Noctis Volcano is a newly discovered volcano on Mars, located just south of the equator. The discovery of Noctis Volcano could lead to new research into the geological evolution of Mars and future exploration. The volcano has a complex history of modification, which may be due to fracturing and thermal erosion.
The volcano, which has been provisionally named “Noctis Mons,” reaches 29,600 feet (9,022 meters). That’s about the same as Mauna Loa, one of the five volcanoes that forms the island of Hawaii. Noctis Mons is taller than Mount Everest but becomes only the seventh tallest volcano on Mars. -
Question 2 of 5
2. Question
Consider the following statements,
1. The Shipra River, also known as the Kshipra, is a 195 km long river in Tripura.
2. The Shipra is considered as sacred as the Ganga River by Hindus. The Puranas, claim that the Shipra came from Lord Vishnu’s incarnation as a boar, Varaha’s heart.
3. Every 12 years, the Sinhastha fair (Kumbh Mela) takes place on the city’s elaborate riverside ghats.
How many of the statements is/are correct?Correct
(b) Only two
The Shipra River, also known as the Kshipra, is a 195 km long river in Madhya Pradesh. It is a tributary of the Chambal River and is considered one of the holiest rivers in Hinduism. (Statement 1 is incorrect)
The Shipra originates in the Vindhya Range and flows across the Malwa Plateau to join the Chambal River at the MP-Rajasthan border. The river flows through the Indore, Dewas, and Gwalior districts before meeting the Chambal near the Kalu-Kher village.
The Shipra is considered as sacred as the Ganga River by Hindus. The Puranas, or ancient Hindu books, claim that the Shipra came from Lord Vishnu’s incarnation as a boar, Varaha’s heart. The holy city of Ujjain is located on the east bank of the Shipra. Every 12 years, the Sinhastha fair (Kumbh Mela) takes place on the city’s elaborate riverside ghats.Incorrect
(b) Only two
The Shipra River, also known as the Kshipra, is a 195 km long river in Madhya Pradesh. It is a tributary of the Chambal River and is considered one of the holiest rivers in Hinduism. (Statement 1 is incorrect)
The Shipra originates in the Vindhya Range and flows across the Malwa Plateau to join the Chambal River at the MP-Rajasthan border. The river flows through the Indore, Dewas, and Gwalior districts before meeting the Chambal near the Kalu-Kher village.
The Shipra is considered as sacred as the Ganga River by Hindus. The Puranas, or ancient Hindu books, claim that the Shipra came from Lord Vishnu’s incarnation as a boar, Varaha’s heart. The holy city of Ujjain is located on the east bank of the Shipra. Every 12 years, the Sinhastha fair (Kumbh Mela) takes place on the city’s elaborate riverside ghats. -
Question 3 of 5
3. Question
Alternative Investment Fund (AIF)
1. It is a special investment category that differs from conventional investment instruments.
2. It is a privately pooled fund.
3. AIFs can be formed as a company, Limited Liability Partnership (LLP), trust, etc.
Which of the statements given above are correct?Correct
(d) 1, 2 and 3
Alternative Investment Funds (AIFs): It is a special investment category that differs from conventional investment instruments. AIF is any fund established in India which is a privately pooled investment vehicle that collects funds from sophisticated investors, both Indian or foreign, for investing. It pools funds from investors and invests them under different categories of investments as specified by the SEBIfor the benefit of investors.
These investment vehicles adhere to the SEBI (Alternative Investment Funds) Regulations, 2012.AIFs can be formed as a company, Limited Liability Partnership (LLP), trust, etc. It is an investment option for high rollers, including domestic and foreign investors in India. Generally, institutions and high net worth individualsinvest in AIF as it needs a high investment amount.
Categories of AIF:
1. Category I AIFs
They can invest in start-ups, early stage ventures, social ventures, SMEs and sectors which the government or regulators consider as socially or economically desirable. They include venture capital funds like angel funds, SME Funds, social venture funds, infrastructure funds and such other AIFs as may be specified.
2. Category II AIFs:
They are those which are not classified under Category I or Category III. They do not undertake leverage or borrowing other than to meet day-to-day operational requirements and as permitted in the regulations. Various types of funds such as real estate funds, debt funds, private equity funds, funds for distressed assets, etc. are registered as Category II AIFs.
3. Category III AIFs:
They are funds which employ complex or diverse trading strategies and may employ leverage including through investment in listed or unlisted derivatives hedge funds, PIPE Funds, etc. are registered as Category III AIFs.
Category I and II AIFs are required to be close ended and have a minimum tenure of three years. Category III AIFs may be open ended or close ended.Incorrect
(d) 1, 2 and 3
Alternative Investment Funds (AIFs): It is a special investment category that differs from conventional investment instruments. AIF is any fund established in India which is a privately pooled investment vehicle that collects funds from sophisticated investors, both Indian or foreign, for investing. It pools funds from investors and invests them under different categories of investments as specified by the SEBIfor the benefit of investors.
These investment vehicles adhere to the SEBI (Alternative Investment Funds) Regulations, 2012.AIFs can be formed as a company, Limited Liability Partnership (LLP), trust, etc. It is an investment option for high rollers, including domestic and foreign investors in India. Generally, institutions and high net worth individualsinvest in AIF as it needs a high investment amount.
Categories of AIF:
1. Category I AIFs
They can invest in start-ups, early stage ventures, social ventures, SMEs and sectors which the government or regulators consider as socially or economically desirable. They include venture capital funds like angel funds, SME Funds, social venture funds, infrastructure funds and such other AIFs as may be specified.
2. Category II AIFs:
They are those which are not classified under Category I or Category III. They do not undertake leverage or borrowing other than to meet day-to-day operational requirements and as permitted in the regulations. Various types of funds such as real estate funds, debt funds, private equity funds, funds for distressed assets, etc. are registered as Category II AIFs.
3. Category III AIFs:
They are funds which employ complex or diverse trading strategies and may employ leverage including through investment in listed or unlisted derivatives hedge funds, PIPE Funds, etc. are registered as Category III AIFs.
Category I and II AIFs are required to be close ended and have a minimum tenure of three years. Category III AIFs may be open ended or close ended. -
Question 4 of 5
4. Question
With respect to tax to GDP ratio, consider the following statements
1. It is the share of taxes in the overall output generated in the country.
2. Higher ratio denotes a wider fiscal net and reduced dependence on borrowings.
3. A lower ratio poses challenges for the government’s spending.
How many of the above is/are correct?Correct
(c) All three
• The tax-to-GDP ratio represents a country’s tax kitty relative to its GDP, indicating the government’s ability to finance its expenditure.
• Simply put, it is the share of taxes in the overall output generated in the country.
• A higher ratio denotes a wider fiscal net and reduced dependence on borrowings.
• Impact of lower ratio: A lower ratio poses challenges for the government’s spending on critical infrastructure and investments. It also strains fiscal deficit targets and constrains expenditure despite robust economic growth.
• The measures can potentially boost the ratio (to increase revenue)
• Enhancing tax compliance
• Implementing the Direct Tax Code
• Rationalizing GSTIncorrect
(c) All three
• The tax-to-GDP ratio represents a country’s tax kitty relative to its GDP, indicating the government’s ability to finance its expenditure.
• Simply put, it is the share of taxes in the overall output generated in the country.
• A higher ratio denotes a wider fiscal net and reduced dependence on borrowings.
• Impact of lower ratio: A lower ratio poses challenges for the government’s spending on critical infrastructure and investments. It also strains fiscal deficit targets and constrains expenditure despite robust economic growth.
• The measures can potentially boost the ratio (to increase revenue)
• Enhancing tax compliance
• Implementing the Direct Tax Code
• Rationalizing GST -
Question 5 of 5
5. Question
Consider the following statements,
1. The Hemoglobin A1C (HbA1C) test measures the average blood sugar levels over the past three months.
2. The test measures the percentage of red blood cells that have sugar-coated hemoglobin, which is a protein that carries oxygen to cells throughout the body.
3. The HbA1C test doesn’t require fasting or any other special preparation, and can be done at any time of day.
How many of the above is/are correct?Correct
(c) All three
The Hemoglobin A1C (HbA1C) test measures the average blood sugar levels over the past three months. It’s a simple blood test that’s often used to diagnose diabetes and prediabetes. The test measures the percentage of red blood cells that have sugar-coated hemoglobin, which is a protein that carries oxygen to cells throughout the body.
The HbA1C test is a good indicator of long-term glycemic control and can reflect the previous two to three months of glycemic history. It also correlates with the risk of long-term diabetes complications.
For an HbA1c test to be considered normal, or non-diabetic, the value must be below 5.7%. A value of 5.7–6.4% indicates prediabetes, and a value of 6.5% or higher indicates diabetes.
The HbA1C test doesn’t require fasting or any other special preparation, and can be done at any time of day.Incorrect
(c) All three
The Hemoglobin A1C (HbA1C) test measures the average blood sugar levels over the past three months. It’s a simple blood test that’s often used to diagnose diabetes and prediabetes. The test measures the percentage of red blood cells that have sugar-coated hemoglobin, which is a protein that carries oxygen to cells throughout the body.
The HbA1C test is a good indicator of long-term glycemic control and can reflect the previous two to three months of glycemic history. It also correlates with the risk of long-term diabetes complications.
For an HbA1c test to be considered normal, or non-diabetic, the value must be below 5.7%. A value of 5.7–6.4% indicates prediabetes, and a value of 6.5% or higher indicates diabetes.
The HbA1C test doesn’t require fasting or any other special preparation, and can be done at any time of day.