IASbaba Daily Prelims Quiz
For Previous Daily Quiz (ARCHIVES) – CLICK HERE
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.
Gear up and Make the Best Use of this initiative.
Do remember that, “the difference between Ordinary and EXTRA-Ordinary is PRACTICE!!”
Important Note:
- Don’t forget to post your marks in the comment section. Also, let us know if you enjoyed today’s test 🙂
- After completing the 5 questions, click on ‘View Questions’ to check your score, time taken, and solutions.
Test-summary
0 of 5 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
Information
To view Solutions, follow these instructions:
- Click on – ‘Start Test’ button
- Solve Questions
- Click on ‘Test Summary’ button
- Click on ‘Finish Test’ button
- Now click on ‘View Questions’ button – here you will see solutions and links.
You have already completed the test before. Hence you can not start it again.
Test is loading...
You must sign in or sign up to start the test.
You have to finish following test, to start this test:
Results
0 of 5 questions answered correctly
Your time:
Time has elapsed
You have scored 0 points out of 0 points, (0)
| Average score |
|
| Your score |
|
Categories
- Not categorized 0%
| Pos. | Name | Entered on | Points | Result |
|---|---|---|---|---|
| Table is loading | ||||
| No data available | ||||
- 1
- 2
- 3
- 4
- 5
- Answered
- Review
-
Question 1 of 5
1. Question
Consider the following statements with respect to ‘Central Counterparty Clearinghouse(CCP)’
- It is an entity that helps facilitate trading in various European derivatives and equities markets
- A CCP acts as a counterparty to both sellers and buyers which allows it to guarantee the terms of a trade
- A CCP is authorized by the RBI to operate in India under Banking Regulation Act of 2007
Select the correct answer using the code given below
Correct
Solution(a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Incorrect A central counterparty clearing house (CCP) is an entity that helps facilitate trading in various European derivatives and equities markets. Typically operated by the major banks in each country, CCPs strive to introduce efficiency and stability into various financial markets. A CCP acts as a counterparty to both sellers and buyers, collecting money from each, which allows it to guarantee the terms of a trade. CCPs perform two main functions as the intermediary in a market transaction clearing and settlement and guarantee the terms of a trade. A CCP is authorised by the RBI to operate in India under Payment and Settlement Systems Act, 2007. Context – The European Union’s financial markets regulator European Securities and Markets Authority (ESMA) said it will withdraw recognition of six Indian clearing bodies or central counterparties (CCPs).
Incorrect
Solution(a)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Incorrect A central counterparty clearing house (CCP) is an entity that helps facilitate trading in various European derivatives and equities markets. Typically operated by the major banks in each country, CCPs strive to introduce efficiency and stability into various financial markets. A CCP acts as a counterparty to both sellers and buyers, collecting money from each, which allows it to guarantee the terms of a trade. CCPs perform two main functions as the intermediary in a market transaction clearing and settlement and guarantee the terms of a trade. A CCP is authorised by the RBI to operate in India under Payment and Settlement Systems Act, 2007. Context – The European Union’s financial markets regulator European Securities and Markets Authority (ESMA) said it will withdraw recognition of six Indian clearing bodies or central counterparties (CCPs).
-
Question 2 of 5
2. Question
Which Commission recommended that the Governor of a State should be appointed by the President only after consultation with the Chief Minister of that State.
Correct
Solution(c)
Sarkaria commission’s recommended that the powers of the President in the matter of selection and appointment of Governors should not be diluted. However, the Governor of a State should be appointed by the President only after consultation with the Chief Minister of that State. Normally the five-year term should be adhered to and removal or transfer should be by following a similar procedure as for appointment i.e., after consultation with the Chief Minister of the concerned State.
Context – There is a debate on the role of the Raj Bhavan and conduct of Governors, and whether Chief Ministers should have a say in the appointment of Governors in their respective States.
Incorrect
Solution(c)
Sarkaria commission’s recommended that the powers of the President in the matter of selection and appointment of Governors should not be diluted. However, the Governor of a State should be appointed by the President only after consultation with the Chief Minister of that State. Normally the five-year term should be adhered to and removal or transfer should be by following a similar procedure as for appointment i.e., after consultation with the Chief Minister of the concerned State.
Context – There is a debate on the role of the Raj Bhavan and conduct of Governors, and whether Chief Ministers should have a say in the appointment of Governors in their respective States.
-
Question 3 of 5
3. Question
With reference to ‘Compulsorily Convertible Preference Shares (CCPS)’, consider the following statements
- CCPS offer fixed income to the investors and compulsorily convert into Equity Shares of the issuing company after a predetermined period
- The concept of conversion of Compulsory Convertible Preference Shares (CCPS) into Shares is governed by the Companies Act, 2013
Select the INCORRECT statement(s)
Correct
Solution(b)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect CCPS offer fixed income to the investors and compulsorily convert into Equity Shares of the issuing company after a predetermined period. The terms of conversion are also pre-decided at the time of issue. The concept of conversion of Compulsory Convertible Preference Shares (CCPS) into Equity Shares is not governed by any section of the Companies Act, 2013 but if combined the certain Provisions of Companies Act, 2013, one can easily opine the conversion. Context – Insurance regulator IRDAI has rejected Fairfax proposal to convert the company’s holdings in compulsory convertible preferred shares (CCPS) issued by Go Digit Infoworks into equity shares.
Incorrect
Solution(b)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect CCPS offer fixed income to the investors and compulsorily convert into Equity Shares of the issuing company after a predetermined period. The terms of conversion are also pre-decided at the time of issue. The concept of conversion of Compulsory Convertible Preference Shares (CCPS) into Equity Shares is not governed by any section of the Companies Act, 2013 but if combined the certain Provisions of Companies Act, 2013, one can easily opine the conversion. Context – Insurance regulator IRDAI has rejected Fairfax proposal to convert the company’s holdings in compulsory convertible preferred shares (CCPS) issued by Go Digit Infoworks into equity shares.
-
Question 4 of 5
4. Question
Consider the following statements with respect to ‘E-waste (management) rules 2022’
- These rules apply to every manufacturer, producer refurbisher, user, dismantler and recycler of e-waste
- Producers of electronic goods have to ensure at least 60% of their electronic waste is collected and recycled by 2023
- The rules require the refurbished equipment be as per Compulsory Registration Scheme of the Ministry of Environment, Forest and Climate Change
Choose the correct answer using the code given below
Correct
Solution(b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Incorrect These rules apply to every manufacturer, producer refurbisher, dismantler and recycler involved in manufacture, sale, transfer, purchase, refurbishing, dismantling, recycling and processing of e-waste or electrical and electronic equipment listed in Schedule I, including their components, consumables, parts and spares which make the product operational. This doesn’t apply to users though. Producers of electronic goods have to ensure at least 60% of their electronic waste is collected and recycled by 2023 with targets to increase them to 70% and 80% in 2024 and 2025, respectively. All refurbisher must collect e-waste generated during the process of refurbishing and hand over the waste to registered recycler and upload information on the portal; ensure that the refurbished equipment shall be as per Compulsory Registration Scheme of the Ministry of Electronics and Information Technology and Standards of Bureau of Indian Standards framed for this purpose Context – Government notified E-Waste (Management) Rules, 2022
Incorrect
Solution(b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Incorrect Correct Incorrect These rules apply to every manufacturer, producer refurbisher, dismantler and recycler involved in manufacture, sale, transfer, purchase, refurbishing, dismantling, recycling and processing of e-waste or electrical and electronic equipment listed in Schedule I, including their components, consumables, parts and spares which make the product operational. This doesn’t apply to users though. Producers of electronic goods have to ensure at least 60% of their electronic waste is collected and recycled by 2023 with targets to increase them to 70% and 80% in 2024 and 2025, respectively. All refurbisher must collect e-waste generated during the process of refurbishing and hand over the waste to registered recycler and upload information on the portal; ensure that the refurbished equipment shall be as per Compulsory Registration Scheme of the Ministry of Electronics and Information Technology and Standards of Bureau of Indian Standards framed for this purpose Context – Government notified E-Waste (Management) Rules, 2022
-
Question 5 of 5
5. Question
Consider the following statements with respect to ‘Extradition’
- An Extradition request for an accused can be initiated only in the case of convicted criminals and not in case of under-trials
- Fugitive Economic Offenders Act governs the law relating to extradition of fugitives from India to a foreign state and vice-versa
Select the correct statement(s)
Correct
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect An Extradition request for an accused can be initiated in the case of under-investigation, under-trial and convicted criminals. In cases under investigation, abundant precautions have to be exercised by the law enforcement agency to ensure that it is in possession of prima facie evidence to sustain the allegation before the Courts of Law in the Foreign State. Under Indian law, the Extradition Act, 1962, deals with the law relating to extradition of fugitives from India to a foreign state and vice-versa. This Act is read along with the relevant extradition treaties, arrangements and conventions between India and the concerned country, which are recognised in the Act for the purpose of seeking surrender of the fugitive. Context – Extradition of Nirav Modi to India has been cleared by the UK high court.
Incorrect
Solution(d)
Statement Analysis:
Statement 1 Statement 2 Incorrect Incorrect An Extradition request for an accused can be initiated in the case of under-investigation, under-trial and convicted criminals. In cases under investigation, abundant precautions have to be exercised by the law enforcement agency to ensure that it is in possession of prima facie evidence to sustain the allegation before the Courts of Law in the Foreign State. Under Indian law, the Extradition Act, 1962, deals with the law relating to extradition of fugitives from India to a foreign state and vice-versa. This Act is read along with the relevant extradition treaties, arrangements and conventions between India and the concerned country, which are recognised in the Act for the purpose of seeking surrender of the fugitive. Context – Extradition of Nirav Modi to India has been cleared by the UK high court.
- Current Affairs Quiz, IAS Daily Current Affairs Quiz, IAS UPSC Current Affairs Quiz, IAS UPSC Prelims Quiz, IASbaba's Current Affairs Prelims Quiz, IASbaba's Daily Quiz, IASbaba's UPSC Quiz, Prelims Current Affairs Quiz, UPSC Current Affairs Quiz, UPSC Current Affairs Quiz IASbaba, UPSC Daily Current Affair Quiz, UPSC IAS Daily Quiz
