Daily Current Affairs Quiz- 4th January 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
Consider the following:
Tiger Reserves International Border with
1.Valmiki Tiger Reserve Nepal
1.Dudhwa Tiger Reserve Bangladesh
2.Buxa Tiger Reserve Bhutan
3.Manas Tiger Reserve MyanmarHow many of the above pairs is/are correct?
Correct
(b) Only two
Valmiki Tiger Reserve: Located in Bihar, this reserve connects with Nepal’s Chitwan National Park and Parsa Wildlife Reserve. (1st pair is correct)
Dudhwa Tiger Reserve: Located in Uttar Pradesh, this reserve shares a border with Nepal’s Shukla Phanta National Park. (2nd pair is incorrect)
Buxa Tiger Reserve: Located in the Alipurduar sub-division of Jalpaiguri district of West Bengal, this reserve’s northern boundary runs along the international border with Bhutan. (3rd pair is correct)
Manas Tiger Reserve: Located in Assam, this reserve shares a border with Bhutan’s Royal Manas National Park. The Transboundary Manas Conservation Area (TraMCA), created in 2011, straddles the Indo-Bhutan border. (4th pair is incorrect)Incorrect
(b) Only two
Valmiki Tiger Reserve: Located in Bihar, this reserve connects with Nepal’s Chitwan National Park and Parsa Wildlife Reserve. (1st pair is correct)
Dudhwa Tiger Reserve: Located in Uttar Pradesh, this reserve shares a border with Nepal’s Shukla Phanta National Park. (2nd pair is incorrect)
Buxa Tiger Reserve: Located in the Alipurduar sub-division of Jalpaiguri district of West Bengal, this reserve’s northern boundary runs along the international border with Bhutan. (3rd pair is correct)
Manas Tiger Reserve: Located in Assam, this reserve shares a border with Bhutan’s Royal Manas National Park. The Transboundary Manas Conservation Area (TraMCA), created in 2011, straddles the Indo-Bhutan border. (4th pair is incorrect) -
Question 2 of 5
2. Question
With reference to the Parliament of India, consider the following statements:
1. A private member’s bill is a bill presented by a Member of Parliament (MP) who is not elected but only nominated by the President of India.
2. Recently, a private member’s bill has been passed in the Parliament of India for the first time in its history.
Which of the statements given above is/are correct?Correct
(d) Neither 1 nor 2
A private members bill is a bill introduced by a Member of Parliament who is not a part of the government. These MPs are elected by the people and not nominated by the President of India. Private members bills can be introduced by any member of either the Lok Sabha (Lower House) or the Rajya Sabha (Upper House) who is not a minister in the government. These bills provide an opportunity for individual MPs to bring forward legislation on issues that are important to them or their constituents. (Statement 1 is incorrect)
Private members bills have been passed in the Parliament of India in the past. While it is relatively rare for a private members bill to be passed, it has happened on a few occasions. For example, the Right to Information Act, 2005, which has played a significant role in promoting transparency and accountability in governance, was originally introduced as a private members bill. It was later taken up by the government and passed as an official government bill. (Statement 2 is incorrect)Incorrect
(d) Neither 1 nor 2
A private members bill is a bill introduced by a Member of Parliament who is not a part of the government. These MPs are elected by the people and not nominated by the President of India. Private members bills can be introduced by any member of either the Lok Sabha (Lower House) or the Rajya Sabha (Upper House) who is not a minister in the government. These bills provide an opportunity for individual MPs to bring forward legislation on issues that are important to them or their constituents. (Statement 1 is incorrect)
Private members bills have been passed in the Parliament of India in the past. While it is relatively rare for a private members bill to be passed, it has happened on a few occasions. For example, the Right to Information Act, 2005, which has played a significant role in promoting transparency and accountability in governance, was originally introduced as a private members bill. It was later taken up by the government and passed as an official government bill. (Statement 2 is incorrect) -
Question 3 of 5
3. Question
‘’Rapid Financing Instrument’’ and ‘’Rapid Credit Facility’’ are related to the provisions of lending by which one of the following International institution ?
Correct
(b) International Monetary Fund
The Rapid Financing Instrument (RFI): It is a lending facility of the International Monetary Fund (IMF) which provides rapid financial assistance. It is available to all member countries facing an urgent balance of payments need. The RFI was created as part of a broader reform to make the IMF’s financial support more flexible to address the diverse needs of member countries. The RFI replaced the IMF’s previous emergency assistance policy and can be used in a wide range of circumstances. IMF’s Rapid Credit Facility (RCF) provides rapid concessional financial assistance to low-income countries (LICs) facing an urgent balance of payments (BoP) need with no ex-post conditionality where a full-fledged economic program is neither necessary nor feasible.Incorrect
(b) International Monetary Fund
The Rapid Financing Instrument (RFI): It is a lending facility of the International Monetary Fund (IMF) which provides rapid financial assistance. It is available to all member countries facing an urgent balance of payments need. The RFI was created as part of a broader reform to make the IMF’s financial support more flexible to address the diverse needs of member countries. The RFI replaced the IMF’s previous emergency assistance policy and can be used in a wide range of circumstances. IMF’s Rapid Credit Facility (RCF) provides rapid concessional financial assistance to low-income countries (LICs) facing an urgent balance of payments (BoP) need with no ex-post conditionality where a full-fledged economic program is neither necessary nor feasible. -
Question 4 of 5
4. Question
With reference to the Indian economy, consider the following statements:
1. An increase in Nominal Effective Exchange Rate (NEER) indicates the appreciation of rupee.
2. An increase in the Real Effective Exchange Rate (REER) indicates an improvement in trade competitiveness.
3. An increasing trend in domestic inflation relative to inflation in other countries is likely to cause an increasing divergence between NEER and REER.
How many of the above statements is/are correct?Correct
(b) Only two
The nominal effective exchange rate (NEER) is an unadjusted weighted average rate at which one country’s currency exchanges for a basket of multiple foreign currencies. The nominal exchange rate is the amount of domestic currency needed to purchase foreign currency. If a domestic currency increases against a basket of other currencies inside a floating exchange rate regime, NEER is said to appreciate. If the domestic currency falls against the basket, the NEER depreciates. (Statement 1 is correct)
The Real Effective Exchange Rate (REER) is the weighted average of a country’s currency in relation to an index or basket of other major currencies. The weights are determined by comparing the relative trade balance of a country’s currency against that of each country in the index. An increase in a nation’s REER is an indication that its exports are becoming more expensive and its imports are becoming cheaper. This results in losing its trade competitiveness. (Statement 2 is incorrect)
REER remains in sync with the inflationary trends—the upward biases in REER due to inflation was recently seen in India. An increase in domestic inflation relative to inflation in other countries is likely to cause an increasing divergence between NEER and REER. The increasing difference between trends of NEER and REER in recent times was due to India’s domestic inflation being higher relative to the six major currencies considered. (Statement 3 is correct)Incorrect
(b) Only two
The nominal effective exchange rate (NEER) is an unadjusted weighted average rate at which one country’s currency exchanges for a basket of multiple foreign currencies. The nominal exchange rate is the amount of domestic currency needed to purchase foreign currency. If a domestic currency increases against a basket of other currencies inside a floating exchange rate regime, NEER is said to appreciate. If the domestic currency falls against the basket, the NEER depreciates. (Statement 1 is correct)
The Real Effective Exchange Rate (REER) is the weighted average of a country’s currency in relation to an index or basket of other major currencies. The weights are determined by comparing the relative trade balance of a country’s currency against that of each country in the index. An increase in a nation’s REER is an indication that its exports are becoming more expensive and its imports are becoming cheaper. This results in losing its trade competitiveness. (Statement 2 is incorrect)
REER remains in sync with the inflationary trends—the upward biases in REER due to inflation was recently seen in India. An increase in domestic inflation relative to inflation in other countries is likely to cause an increasing divergence between NEER and REER. The increasing difference between trends of NEER and REER in recent times was due to India’s domestic inflation being higher relative to the six major currencies considered. (Statement 3 is correct) -
Question 5 of 5
5. Question
Which one of the following statements best describes the ‘Polar Code’?
Correct
(a) It is the international code of safety for ships operating in polar waters.
International Maritime Organization’s International Code for Ships Operating in Polar Waters (Polar Code) is mandatory under both the International Convention for the Safety of Life at Sea (SOLAS) and the International Convention for the Prevention of Pollution from Ships (MARPOL).
The Polar Code covers the full range of design, construction, equipment, operational, training search and rescue and environmental protection matters relevant to ships operating in the inhospitable waters surrounding the two poles.Incorrect
(a) It is the international code of safety for ships operating in polar waters.
International Maritime Organization’s International Code for Ships Operating in Polar Waters (Polar Code) is mandatory under both the International Convention for the Safety of Life at Sea (SOLAS) and the International Convention for the Prevention of Pollution from Ships (MARPOL).
The Polar Code covers the full range of design, construction, equipment, operational, training search and rescue and environmental protection matters relevant to ships operating in the inhospitable waters surrounding the two poles.