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.
Solve, skill up, and win prizes!
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 5 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Categories
Not categorized0%
1
2
3
4
5
Answered
Review
Question 1 of 5
1. Question
Consider the following statements:
1. The CPI-based inflation data is compiled by the Department for Promotion of Industry and Internal Trade (or DPIIT).
2. The Wholesale price index (WPI) takes into account the change in prices of services.
3. The Consumer price index (CPI) takes into account the change in prices of manufacturing goods.
How many of the statements given above are incorrect?
Correct
(c) All three
The CPI-based inflation data is compiled by the Ministry of Statistics and Programme Implementation (or MoSPI) and the WPI-based inflation data is put together by the Department for Promotion of Industry and Internal Trade (or DPIIT). (Statement 1 is Incorrect)
The Wholesale price index (WPI) takes into account the change in prices of manufacturing goods. The Consumer price index (CPI) takes into account the change in prices of services. (Statements 2 and 3 are incorrect)
Incorrect
(c) All three
The CPI-based inflation data is compiled by the Ministry of Statistics and Programme Implementation (or MoSPI) and the WPI-based inflation data is put together by the Department for Promotion of Industry and Internal Trade (or DPIIT). (Statement 1 is Incorrect)
The Wholesale price index (WPI) takes into account the change in prices of manufacturing goods. The Consumer price index (CPI) takes into account the change in prices of services. (Statements 2 and 3 are incorrect)
Question 2 of 5
2. Question
With reference to the Liberalised Remittance Scheme, consider the following statements:
1. All resident individuals are allowed to freely remit up to USD 2, 50,000 per financial year.
2. Remittance for trading in foreign exchange abroad is prohibited.
3. Minors are not included in this scheme.
4. The Scheme is not available to corporates.
How many of the above statements are correct?
Correct
(b) Only two
Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2, 50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. (Statement 1 is correct and statement 3 incorrect)
The resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM (CAT) Amendment Rules 2015, dated May 26, 2015, within the limit of USD 2,50,000 only.
The Scheme was introduced on February 4, 2004, with a limit of USD 25,000. The LRS limit has been revised in stages consistent with prevailing macro and micro economic conditions. If the remitter is a minor, the LRS declaration form must be countersigned by the minor’s natural guardian.
The Scheme is not available to corporates, partnership firms, HUF, Trusts, etc. (Statement 4 is correct)
The following are exempt from the scheme’s remittance facility:
(i) Remittance for any purpose specifically prohibited under Schedule-I (like the purchase of lottery tickets/sweep stakes, proscribed magazines, etc.) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
(ii) Remittance from India for margins or margin calls to overseas exchanges / overseas counterparty.
(iii) Remittances for the purchase of FCCBs issued by Indian companies in the overseas secondary market.
(iv) Remittance for trading in foreign exchange abroad. (Statement 2 incorrect)
(v) Capital account remittances, directly or indirectly, to countries identified by the Financial Action Task Force (FATF) as “non-cooperative countries and territories”, from time to time.
(vi) Remittances directly or indirectly to those individuals and entities identified as posing a significant risk of committing acts of terrorism as advised separately by the Reserve Bank to the banks.
(vii) Gifting by a resident to another resident, in foreign currency, for the credit of the latter’s foreign currency account held abroad under LRS.
Incorrect
(b) Only two
Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2, 50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. (Statement 1 is correct and statement 3 incorrect)
The resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM (CAT) Amendment Rules 2015, dated May 26, 2015, within the limit of USD 2,50,000 only.
The Scheme was introduced on February 4, 2004, with a limit of USD 25,000. The LRS limit has been revised in stages consistent with prevailing macro and micro economic conditions. If the remitter is a minor, the LRS declaration form must be countersigned by the minor’s natural guardian.
The Scheme is not available to corporates, partnership firms, HUF, Trusts, etc. (Statement 4 is correct)
The following are exempt from the scheme’s remittance facility:
(i) Remittance for any purpose specifically prohibited under Schedule-I (like the purchase of lottery tickets/sweep stakes, proscribed magazines, etc.) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
(ii) Remittance from India for margins or margin calls to overseas exchanges / overseas counterparty.
(iii) Remittances for the purchase of FCCBs issued by Indian companies in the overseas secondary market.
(iv) Remittance for trading in foreign exchange abroad. (Statement 2 incorrect)
(v) Capital account remittances, directly or indirectly, to countries identified by the Financial Action Task Force (FATF) as “non-cooperative countries and territories”, from time to time.
(vi) Remittances directly or indirectly to those individuals and entities identified as posing a significant risk of committing acts of terrorism as advised separately by the Reserve Bank to the banks.
(vii) Gifting by a resident to another resident, in foreign currency, for the credit of the latter’s foreign currency account held abroad under LRS.
Question 3 of 5
3. Question
According to the Sangam texts the terms Kon, Ko and Mannan were attributed to which of the following?
Correct
(d) King
In the sangam age, the kingship was hereditary. The king was called Ko. It is the shortened form of Kon. Vendan, Kon, Mannan, Kotravan and Iraivan were the other titles by which the king was addressed. The eldest son of the reigning king generally succeeded to the throne.
Incorrect
(d) King
In the sangam age, the kingship was hereditary. The king was called Ko. It is the shortened form of Kon. Vendan, Kon, Mannan, Kotravan and Iraivan were the other titles by which the king was addressed. The eldest son of the reigning king generally succeeded to the throne.
Question 4 of 5
4. Question
The title ‘Father of History’ rightly belongs to
Correct
(a) Herodotus
Herodotus is popularly known for having written the book “The Histories” which is a detailed record of his “inquiry” over the origins of the Greco-Persian Wars. He is widely regarded to have been the very first writer to have treated and viewed historical subjects with a method of systematic investigation—specifically, by the means of collecting his materials and then carefully arranging them into a historiographic narrative. On account of this, he is often referred to as “The Father of History,” a title that was first conferred on him by the first-century BC Romanorator Cicero.
He was known as the father of history as he was the first historian known who had collected all the sources as well as materials in a systematic order. Plus he also tested their accuracy to give a proper explanation.
Incorrect
(a) Herodotus
Herodotus is popularly known for having written the book “The Histories” which is a detailed record of his “inquiry” over the origins of the Greco-Persian Wars. He is widely regarded to have been the very first writer to have treated and viewed historical subjects with a method of systematic investigation—specifically, by the means of collecting his materials and then carefully arranging them into a historiographic narrative. On account of this, he is often referred to as “The Father of History,” a title that was first conferred on him by the first-century BC Romanorator Cicero.
He was known as the father of history as he was the first historian known who had collected all the sources as well as materials in a systematic order. Plus he also tested their accuracy to give a proper explanation.
Question 5 of 5
5. Question
Consider the following statements regarding Minimum Support Price (MSP):
1. MSP is announced by the Government of India for certain crops after the sowing season.
2. The idea of MSP was first proposed in 1966 and it was inspired by the Green Revolution.
3. It is announced for specific crops, primarily for major cereals, pulses, oilseeds, and certain commercial crops,
How many of the statements is/are correct?
Correct
(b) Only two statements are correct (2nd and 3rd)
The Minimum Support Price (MSP) is the price at which the government purchases crops for the farmers, to insure farmers against any sharp fall in farm prices.
It is announced by the Government on the basis of the recommendation of the Commission for Agricultural Costs and Prices (CACP), at the beginning of the sowing season. (Statement 1 is incorrect)
The idea of MSP was first proposed in 1966 and it was inspired by the Green Revolution. The government is in charge of maintaining the Minimum Support Price to keep a lid on important agricultural commodities each year, equally affecting both the Kharif and the Rabi crops.
Incorrect
(b) Only two statements are correct (2nd and 3rd)
The Minimum Support Price (MSP) is the price at which the government purchases crops for the farmers, to insure farmers against any sharp fall in farm prices.
It is announced by the Government on the basis of the recommendation of the Commission for Agricultural Costs and Prices (CACP), at the beginning of the sowing season. (Statement 1 is incorrect)
The idea of MSP was first proposed in 1966 and it was inspired by the Green Revolution. The government is in charge of maintaining the Minimum Support Price to keep a lid on important agricultural commodities each year, equally affecting both the Kharif and the Rabi crops.