IASbaba Daily Prelims Quiz
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The Current Affairs questions are based on sources like ‘The Hindu’, ‘Indian Express’ and ‘PIB’, which are very important sources for UPSC Prelims Exam. The questions are focused on both the concepts and facts. The topics covered here are generally different from what is being covered under ‘Daily Current Affairs/Daily News Analysis (DNA) and Daily Static Quiz’ to avoid duplication. The questions would be published from Monday to Saturday before 2 PM. One should not spend more than 10 minutes on this initiative.
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Question 1 of 5
1. Question
Consider the following statements about Investment Facilitation for Development
- It is a joint Initiative launched International Monetary Fund and World Economic Forum at the 2024 Davos Summit.
- The agreement aims to create legally binding provisions to facilitate investment flows.
- India is a member to the Investment Facilitation for Development Agreement.
How many of the statements given above are correct?
Correct
Solution (a)
Statement Analysis
Statement 1 Statement 2 Statement 3 Incorrect Correct Incorrect · It is a joint Initiative launched at the 11th WTO Ministerial Conference (MC11) in December 2017 on a plurilateral basis by 70 countries. · This was done through a process known as the Joint Statement Initiative.Objective: A core objective of the framework is to facilitate greater participation by developing and least-developed WTO Members in global investment flows.
· The IFD agreement was finalised in November 2023 and at present around 120 of 166 WTO member countries (more than 70% of the membership) back this agreement.
· Aim: This agreement aims to create legally binding provisions to facilitate investment flows. · It also aims to develop predictable, transparent and open investment rules that will contribute to more efficient investment flows and increased business confidence and it is now in a formal negotiation phase.
· India is not a part of this initiative. Context: One of the significant developments at the 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) in Abu Dhabi was the non-adoption of the agreement on investment facilitation for development (IFD).
Incorrect
Solution (a)
Statement Analysis
Statement 1 Statement 2 Statement 3 Incorrect Correct Incorrect · It is a joint Initiative launched at the 11th WTO Ministerial Conference (MC11) in December 2017 on a plurilateral basis by 70 countries. · This was done through a process known as the Joint Statement Initiative.Objective: A core objective of the framework is to facilitate greater participation by developing and least-developed WTO Members in global investment flows.
· The IFD agreement was finalised in November 2023 and at present around 120 of 166 WTO member countries (more than 70% of the membership) back this agreement.
· Aim: This agreement aims to create legally binding provisions to facilitate investment flows. · It also aims to develop predictable, transparent and open investment rules that will contribute to more efficient investment flows and increased business confidence and it is now in a formal negotiation phase.
· India is not a part of this initiative. Context: One of the significant developments at the 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) in Abu Dhabi was the non-adoption of the agreement on investment facilitation for development (IFD).
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Question 2 of 5
2. Question
Consider the following statements about Stomata
- Stomata are tiny openings or pores in plant tissue that are found nowhere else except in the leaves of plant.
- With the help of guard cells that surround stomato, stomata allow for exchange of gas in plants.
Choose the incorrect statement:
Correct
Solution (a)
Statement Analysis
Statement 1 Statement 2 Incorrect Correct · Stomata (singular, “stoma”) are tiny pores through which plants breathe. Stomata are found on the upper and lower sides of leaves, on flower petals, on stems, and on roots. · Stomata allow a plant to take in carbon dioxide, which is needed for photosynthesis.
· They also help to reduce water loss by closing when conditions are hot or dry.
· Stomata look like tiny mouths which open and close as they assist in transpiration.
· Guard cells are large, crescent-shaped cells, two of which surround a stoma and are connected to at both ends. · A stomate opens and closes in response to the internal pressure of guard cells.
· These cells enlarge and contract to open and close stomatal pores.
· Guard cells work to control excessive water loss, closing on hot, dry, or windy days and opening when conditions are more favourable for gas exchange.
· Guard cells also contain chloroplasts, the light-capturing organelles in plants.
· Stomata allow a plant to take in carbon dioxide, which is needed for photosynthesis.
· Subsidiary cells, also called accessory cells, surround and support guard cells.
· They act as a buffer between guard cells and epidermal cells, protecting epidermal cells against guard cell expansion.
Context: Scientists recently discovered a novel regulatory mechanism that controls the opening of stomata in plants.
Incorrect
Solution (a)
Statement Analysis
Statement 1 Statement 2 Incorrect Correct · Stomata (singular, “stoma”) are tiny pores through which plants breathe. Stomata are found on the upper and lower sides of leaves, on flower petals, on stems, and on roots. · Stomata allow a plant to take in carbon dioxide, which is needed for photosynthesis.
· They also help to reduce water loss by closing when conditions are hot or dry.
· Stomata look like tiny mouths which open and close as they assist in transpiration.
· Guard cells are large, crescent-shaped cells, two of which surround a stoma and are connected to at both ends. · A stomate opens and closes in response to the internal pressure of guard cells.
· These cells enlarge and contract to open and close stomatal pores.
· Guard cells work to control excessive water loss, closing on hot, dry, or windy days and opening when conditions are more favourable for gas exchange.
· Guard cells also contain chloroplasts, the light-capturing organelles in plants.
· Stomata allow a plant to take in carbon dioxide, which is needed for photosynthesis.
· Subsidiary cells, also called accessory cells, surround and support guard cells.
· They act as a buffer between guard cells and epidermal cells, protecting epidermal cells against guard cell expansion.
Context: Scientists recently discovered a novel regulatory mechanism that controls the opening of stomata in plants.
-
Question 3 of 5
3. Question
Consider the following statements about Treasury Bills
- Treasury bills or T-bills re short term debt instruments issued by the Government of India
- These are zero coupon securities and pay no interest.
Choose the correct statement:
Correct
Solution (c)
Statement Analysis
Statement 1 Statement 2 Correct Correct · Treasury bills or T-bills are money market instruments. · These are short term debt instruments issued by the Government of India.
· Maturity period: At present, treasury bills are issued in three maturities — 91-day, 182-day and 364-day.
Who can buy?
· Individuals, trusts, institutions and banks can purchase T-Bills. But they are usually held by financial institutions.
· They have a very important role in the financial market beyond investment instruments.
· Banks give treasury bills to the RBI to get money under repo. Similarly, they can also keep it to fulfil their Statutory Liquid Ratio (SLR) requirements.
· These are zero coupon securities and pay no interest. Instead, they are issued at a discount and redeemed at the face value at maturity. How do T-bills work?
· Treasury bills are issued at a discount to original value and the buyer gets the original value upon maturity.
· The return on treasury bill depends on liquidity position in the economy. When there is a liquidity crisis, the returns are higher, and vice versa.
Context: Recently, the Government of India, in consultation with the Reserve Bank of India notified the calendar for the issuance of Treasury Bills for the quarter ending June 2024.
Incorrect
Solution (c)
Statement Analysis
Statement 1 Statement 2 Correct Correct · Treasury bills or T-bills are money market instruments. · These are short term debt instruments issued by the Government of India.
· Maturity period: At present, treasury bills are issued in three maturities — 91-day, 182-day and 364-day.
Who can buy?
· Individuals, trusts, institutions and banks can purchase T-Bills. But they are usually held by financial institutions.
· They have a very important role in the financial market beyond investment instruments.
· Banks give treasury bills to the RBI to get money under repo. Similarly, they can also keep it to fulfil their Statutory Liquid Ratio (SLR) requirements.
· These are zero coupon securities and pay no interest. Instead, they are issued at a discount and redeemed at the face value at maturity. How do T-bills work?
· Treasury bills are issued at a discount to original value and the buyer gets the original value upon maturity.
· The return on treasury bill depends on liquidity position in the economy. When there is a liquidity crisis, the returns are higher, and vice versa.
Context: Recently, the Government of India, in consultation with the Reserve Bank of India notified the calendar for the issuance of Treasury Bills for the quarter ending June 2024.
-
Question 4 of 5
4. Question
Consider the following statements about Lokpal
- The selection committee is composed of the Prime Minister, Speaker of Lok Sabha, Chairman of Rajya Sabha and Chief Justice of India.
- The term of office for Lokpal Chairman and Members is 6 years or till the age of 70 years.
- The Inquiry Wing of the Lokpal has been vested with the powers of a civil court.
How many of the statements given above are correct?
Correct
Solution (a)
Statement Analysis
Statement 1 Statement 2 Statement 3 Incorrect Incorrect Correct · The members are appointed by the president on the recommendation of a Selection Committee. · The selection committee is composed of the Prime Minister who is the Chairperson, Speaker of Lok Sabha, Leader of Opposition in Lok Sabha, Chief Justice of India or a Judge nominated by him/her and One eminent jurist.
· For selecting the chairperson and the members, the selection committee constitutes a search panel of at least eight persons.
· Under the Lokpal Act of 2013, the Department of Personnel & Training (DoPT) is supposed to put together a list of candidates interested to be the chairperson or members of the Lokpal.
· This list would then go to the proposed eight-member search committee, which would shortlist names and place them before the selection panel headed by the Prime Minister.
· Lokpal is a multi-member body, that consists of one chairperson and a maximum of 8 members. · Chairperson of the Lokpal should be either the former Chief Justice of India or the former Judge of Supreme Court or an eminent person with impeccable integrity and outstanding ability, having special knowledge and expertise of minimum 25 years in the matters relating to anti-corruption policy, public administration, vigilance, finance including insurance and banking, law and management.
· The term of office for Lokpal Chairman and Members is 5 years or till the age of 70 years.
· The members are appointed by the president on the recommendation of a Selection Committee.
· Jurisdiction of Lokpal includes Prime Minister, Ministers, members of Parliament, Groups A, B, C and D officers and officials of Central Government. · It has the powers to superintendence over, and to give direction to CBI.
· The Inquiry Wing of the Lokpal has been vested with the powers of a civil court.
· Lokpal has powers of confiscation of assets, proceeds, receipts and benefits arisen or procured by means of corruption in special circumstances.
· Lokpal has the power to recommend transfer or suspension of public servant connected with allegation of corruption.
· Lokpal has the power to give directions to prevent the destruction of records during the preliminary inquiry.
Context: Justice Ritu Raj Awasthi sworn in as judicial member, Lokpal .
Incorrect
Solution (a)
Statement Analysis
Statement 1 Statement 2 Statement 3 Incorrect Incorrect Correct · The members are appointed by the president on the recommendation of a Selection Committee. · The selection committee is composed of the Prime Minister who is the Chairperson, Speaker of Lok Sabha, Leader of Opposition in Lok Sabha, Chief Justice of India or a Judge nominated by him/her and One eminent jurist.
· For selecting the chairperson and the members, the selection committee constitutes a search panel of at least eight persons.
· Under the Lokpal Act of 2013, the Department of Personnel & Training (DoPT) is supposed to put together a list of candidates interested to be the chairperson or members of the Lokpal.
· This list would then go to the proposed eight-member search committee, which would shortlist names and place them before the selection panel headed by the Prime Minister.
· Lokpal is a multi-member body, that consists of one chairperson and a maximum of 8 members. · Chairperson of the Lokpal should be either the former Chief Justice of India or the former Judge of Supreme Court or an eminent person with impeccable integrity and outstanding ability, having special knowledge and expertise of minimum 25 years in the matters relating to anti-corruption policy, public administration, vigilance, finance including insurance and banking, law and management.
· The term of office for Lokpal Chairman and Members is 5 years or till the age of 70 years.
· The members are appointed by the president on the recommendation of a Selection Committee.
· Jurisdiction of Lokpal includes Prime Minister, Ministers, members of Parliament, Groups A, B, C and D officers and officials of Central Government. · It has the powers to superintendence over, and to give direction to CBI.
· The Inquiry Wing of the Lokpal has been vested with the powers of a civil court.
· Lokpal has powers of confiscation of assets, proceeds, receipts and benefits arisen or procured by means of corruption in special circumstances.
· Lokpal has the power to recommend transfer or suspension of public servant connected with allegation of corruption.
· Lokpal has the power to give directions to prevent the destruction of records during the preliminary inquiry.
Context: Justice Ritu Raj Awasthi sworn in as judicial member, Lokpal .
-
Question 5 of 5
5. Question
Which of the following is not true about Mekong river
Correct
Solution (d)
Option d Correct · It is a trans-boundary river in East Asia and Southeast Asia. · It is the world’s twelfth-longest river and the third-longest in Asia.
· It originates from the Sanjianyuang in the Tibetan Plateau in China.
· The river drains into the South China Sea
· It flows through six Asian countries: China, Myanmar, Laos, Thailand, Cambodia and Vietnam. It covers a total length of 2700 km.
· Capitals cities on its banks – Vientiane– the capital of Laos; Phnom Penh-the capital of Cambodia
Context: Rising saltwater levels threaten Vietnam’s Mekong Delta, causing nearly $3 billion in annual crop losses.
Incorrect
Solution (d)
Option d Correct · It is a trans-boundary river in East Asia and Southeast Asia. · It is the world’s twelfth-longest river and the third-longest in Asia.
· It originates from the Sanjianyuang in the Tibetan Plateau in China.
· The river drains into the South China Sea
· It flows through six Asian countries: China, Myanmar, Laos, Thailand, Cambodia and Vietnam. It covers a total length of 2700 km.
· Capitals cities on its banks – Vientiane– the capital of Laos; Phnom Penh-the capital of Cambodia
Context: Rising saltwater levels threaten Vietnam’s Mekong Delta, causing nearly $3 billion in annual crop losses.
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