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 the Rare Earth Magnets
- They are the strongest type of permanent magnets known, primarily composed of alloys of rare earth elements.
- Neodymium and Samarium-Cobalt magnets are the two main types of rare earth magnets.
- Their properties make them crucial components in high-tech applications like electric vehicles, wind turbines, and consumer electronics.
How many of the statements given above are correct?
Correct
Solution (c)
Statement Analysis
Statement 1 Statement 2 Statement 3 correct correct correct - Rare earth magnets, particularly Neodymium magnets, are indeed the most powerful type of permanent magnets available.
- The two primary commercial types of rare earth magnets are Neodymium magnets (Neodymium-Iron-Boron, NdFeB) and Samarium-Cobalt magnets (SmCo).
- Due to their exceptional magnetic strength and lightweight nature, rare earth magnets are indispensable in numerous advanced technologies, including electric vehicle motors, generators in wind turbines, hard disk drives, smartphones, and various other consumer electronics.
Context:China has imposed curbs on rare earth magnets.
Incorrect
Solution (c)
Statement Analysis
Statement 1 Statement 2 Statement 3 correct correct correct - Rare earth magnets, particularly Neodymium magnets, are indeed the most powerful type of permanent magnets available.
- The two primary commercial types of rare earth magnets are Neodymium magnets (Neodymium-Iron-Boron, NdFeB) and Samarium-Cobalt magnets (SmCo).
- Due to their exceptional magnetic strength and lightweight nature, rare earth magnets are indispensable in numerous advanced technologies, including electric vehicle motors, generators in wind turbines, hard disk drives, smartphones, and various other consumer electronics.
Context:China has imposed curbs on rare earth magnets.
-
Question 2 of 5
2. Question
Consider the following statements about the Suez Canal
- It is an artificial sea-level waterway in Egypt, connecting the Mediterranean Sea to the Red Sea.
- The Canal allows direct navigation between Europe and Asia without circumnavigating Africa.
- It is owned and operated by a multinational consortium with headquarters in London.
How many of the statements given above are correct?
Correct
Solution (b)
Statement Analysis
Statement 1 Statement 2 Statement 3 correct correct InCorrect - The Suez Canal is indeed an artificial waterway located in Egypt, serving as a vital link between the Mediterranean Sea (via Port Said) and the Red Sea (via Suez).
- Its primary significance lies in drastically shortening the maritime route between Europe and Asia, eliminating the need for ships to travel around the African continent via the Cape of Good Hope.
- The Suez Canal is owned and operated by the Suez Canal Authority (SCA), which is a state-owned company of Egypt. It is not owned by a multinational consortium with headquarters in London.
Context:In response to the Red Sea security crisis that severely disrupted maritime trade, the Suez Canal Authority (SCA) has announced a 15% discount on transit fees for large container ships from May 15, 2025.
Incorrect
Solution (b)
Statement Analysis
Statement 1 Statement 2 Statement 3 correct correct InCorrect - The Suez Canal is indeed an artificial waterway located in Egypt, serving as a vital link between the Mediterranean Sea (via Port Said) and the Red Sea (via Suez).
- Its primary significance lies in drastically shortening the maritime route between Europe and Asia, eliminating the need for ships to travel around the African continent via the Cape of Good Hope.
- The Suez Canal is owned and operated by the Suez Canal Authority (SCA), which is a state-owned company of Egypt. It is not owned by a multinational consortium with headquarters in London.
Context:In response to the Red Sea security crisis that severely disrupted maritime trade, the Suez Canal Authority (SCA) has announced a 15% discount on transit fees for large container ships from May 15, 2025.
-
Question 3 of 5
3. Question
Which of the following statements about the ‘e-Zero FIR initiative’ is correct?
Correct
Option c Context:Indian Cybercrime Coordination Centre (I4C) has introduced the new e-Zero FIR initiative to nab any criminal with unprecedented speed.
Incorrect
Option c Context:Indian Cybercrime Coordination Centre (I4C) has introduced the new e-Zero FIR initiative to nab any criminal with unprecedented speed.
-
Question 4 of 5
4. Question
Consider the following statements about the F&Os [futures and options]
- Both Futures and Options are types of derivative contracts whose value is derived from an underlying asset.
- A Futures contract creates an obligation for both the buyer and the seller to complete the transaction on a future date at a predetermined price.
Choose the incorrect statements:
Correct
Solution (d)
Statement Analysis
Statement 1 Statement 2 correct correct - Futures and Options are indeed financial derivatives. Their value is not inherent but is derived from the price of an underlying asset, which could be stocks, indices, commodities, currencies, etc.
- In a Futures contract, both the buyer and the seller are legally bound to fulfill the terms of the agreement.
Context:The former SEBI Chairman has raised concern over the rising risks associated with F&Os [futures and options] as most of the individuals who invested in them are losing money.
Incorrect
Solution (d)
Statement Analysis
Statement 1 Statement 2 correct correct - Futures and Options are indeed financial derivatives. Their value is not inherent but is derived from the price of an underlying asset, which could be stocks, indices, commodities, currencies, etc.
- In a Futures contract, both the buyer and the seller are legally bound to fulfill the terms of the agreement.
Context:The former SEBI Chairman has raised concern over the rising risks associated with F&Os [futures and options] as most of the individuals who invested in them are losing money.
-
Question 5 of 5
5. Question
Consider the following statements about the Alternative Investment Funds (AIFs)
- AIFs are privately pooled investment vehicles that collect funds from Indian or foreign investors for investing in various asset classes.
- They are regulated by the Securities and Exchange Board of India (SEBI) under the SEBI (Alternative Investment Funds) Regulations, 2012.
Choose the correct statements:
Correct
Solution (c)
Statement Analysis
Statement 1 Statement 2 correct correct - AIFs are indeed privately pooled investment vehicles that gather funds from various investors, both domestic and international, to invest in a range of asset classes as per a defined investment strategy.
- AIFs in India are regulated by the Securities and Exchange Board of India (SEBI) under the SEBI (Alternative Investment Funds) Regulations, 2012.
Context:RBI has proposed revised guidelines to ease restrictions on investments by regulated entities (REs) in Alternative Investment Funds (AIFs).
Incorrect
Solution (c)
Statement Analysis
Statement 1 Statement 2 correct correct - AIFs are indeed privately pooled investment vehicles that gather funds from various investors, both domestic and international, to invest in a range of asset classes as per a defined investment strategy.
- AIFs in India are regulated by the Securities and Exchange Board of India (SEBI) under the SEBI (Alternative Investment Funds) Regulations, 2012.
Context:RBI has proposed revised guidelines to ease restrictions on investments by regulated entities (REs) in Alternative Investment Funds (AIFs).
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