IASbaba's Daily Static Quiz
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DAILY STATIC QUIZ (PYQs)
It will cover PYQs all the topics of static subjects – Polity, History, Geography, Economics, Environment and Science and technology.
Daily 5 questions (Monday to Saturday) will be posted from static topics (PYQs)
The questions will be in the quiz format so you will be able to answer them directly on the portal.
Schedule
- Week 1 – Polity
- Week 2 – Economics
- Week 3 – History and Art & Culture
- Week 4 – Geography
- Week 5 – Environment and Science & Technology
Same cycle will be repeated from Week 6.
Make the best use of the initiative. All the best!
To Know More about Ace the Prelims (ATP) 2021 – CLICK HERE
Important Note:
- Don’t forget to post your marks in the comment section. Also, let us know if you enjoyed today’s test 🙂
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Question 1 of 5
1. Question
In India, markets in agricultural products are regulated under the (2015)
Correct
Solution (b)
An Agricultural Produce Market Committee (APMC) is a marketing board established by state governments in India to ensure farmers are safeguarded from exploitation by large retailers, as well as ensuring the farm to retail price spread does not reach excessively high levels. APMCs are regulated by states through their adoption of a Agriculture Produce Marketing Regulation (APMR) Act.
Incorrect
Solution (b)
An Agricultural Produce Market Committee (APMC) is a marketing board established by state governments in India to ensure farmers are safeguarded from exploitation by large retailers, as well as ensuring the farm to retail price spread does not reach excessively high levels. APMCs are regulated by states through their adoption of a Agriculture Produce Marketing Regulation (APMR) Act.
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Question 2 of 5
2. Question
Convertibility of rupee implies (2015)
Correct
Solution (c)
Currency convertibility is the ease with which a country’s currency can be converted into gold or another currency. Currency convertibility is important for international commerce as globally sourced goods must be paid for in an agreed upon currency that may not be the buyer’s domestic currency. When a country has poor currency convertibility, meaning it is difficult to swap it for another currency or store of value, it poses a risk and barrier to trade with foreign countries who have no need for the domestic currency.
Incorrect
Solution (c)
Currency convertibility is the ease with which a country’s currency can be converted into gold or another currency. Currency convertibility is important for international commerce as globally sourced goods must be paid for in an agreed upon currency that may not be the buyer’s domestic currency. When a country has poor currency convertibility, meaning it is difficult to swap it for another currency or store of value, it poses a risk and barrier to trade with foreign countries who have no need for the domestic currency.
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Question 3 of 5
3. Question
With reference to the Union Government, consider the following statements: (2015)
- The Department of Revenue is responsible for the preparation of Union Budget that is presented to the Parliament.
- No amount can be withdrawn from the Consolidated Fund of India without the authorization from the Parliament of India.
- All the disbursements made from Public Account also need the authorization from the Parliament of India.
Which of the statements given above is/are correct?
Correct
Solution (c)
Department of Economic Affairs prepares the Budget. Public Accounts includes provident fund deposits, judicial deposits, savings bank deposits, departmental deposits, remittances and so on. This account is operated by executive action, that is, the payments from this account can by made without parliamentary appropriation. Such payments are mostly in the nature of banking transactions. So only second statement is correct.
Incorrect
Solution (c)
Department of Economic Affairs prepares the Budget. Public Accounts includes provident fund deposits, judicial deposits, savings bank deposits, departmental deposits, remittances and so on. This account is operated by executive action, that is, the payments from this account can by made without parliamentary appropriation. Such payments are mostly in the nature of banking transactions. So only second statement is correct.
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Question 4 of 5
4. Question
Consider the following statements: (2015)
- The Accelerated Irrigation Benefits Programme was launched during 1996-97 to provide loan assistance to poor farmers.
- The Command Area Development Programme was launched in 1974-75 for the development of water-use efficiency.
Which of the statements given above is/are correct?
Correct
Solution (a)
Central Govt., during 1996-97, launched an Accelerated Irrigation Benefits Programme (AIBP) to provide Central Loan Assistance (CLA) to major/medium irrigation projects in the country, with the objective to accelerate the implementation of those projects which were beyond resource capability of the states or were in advanced stage of completion.
Government of India initiated a Centrally Sponsored Command Area Development Programme (CADP) in December 1974 to improve irrigation potential utilisation and optimise agricultural production from irrigated land through integrated and coordinated approach of efficient water management.
Incorrect
Solution (a)
Central Govt., during 1996-97, launched an Accelerated Irrigation Benefits Programme (AIBP) to provide Central Loan Assistance (CLA) to major/medium irrigation projects in the country, with the objective to accelerate the implementation of those projects which were beyond resource capability of the states or were in advanced stage of completion.
Government of India initiated a Centrally Sponsored Command Area Development Programme (CADP) in December 1974 to improve irrigation potential utilisation and optimise agricultural production from irrigated land through integrated and coordinated approach of efficient water management.
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Question 5 of 5
5. Question
‘Basel III Accord’ or simply ‘Basel III’ often seen in the new, seeks to (2015)
Correct
Solution (b)
Basel III is a global, voluntary regulatory framework on bank capital adequacy, stress testing and market liquidity risk.
Objectives:
- To strengthen global capital and liquidity regulations with the goal of promoting a more resilient banking sector
- To improve the banking sector’s ability to absorb shocks arising from financial and economic stress.
Enhancements:
- Augmentation in the level and quality of capital
- Introduction of liquidity standards
- Modifications in provisioning norms
- Introduction of leverage ratio
Incorrect
Solution (b)
Basel III is a global, voluntary regulatory framework on bank capital adequacy, stress testing and market liquidity risk.
Objectives:
- To strengthen global capital and liquidity regulations with the goal of promoting a more resilient banking sector
- To improve the banking sector’s ability to absorb shocks arising from financial and economic stress.
Enhancements:
- Augmentation in the level and quality of capital
- Introduction of liquidity standards
- Modifications in provisioning norms
- Introduction of leverage ratio
