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
‘Artificial Intelligence Preparedness Index (AIPI)’ recently seen in news was released by
Correct
Solution (b)
Artificial Intelligence Preparedness Index (AIPI) assesses the level of AI preparedness across 174 countries. The rating for each country is given based on the assessment of readiness in four key areas – digital infrastructure, human capital and labour market policies, innovation and economic integration, and regulation and Ethics. The International Monetary Fund (IMF) released an Artificial Intelligence Preparedness Index (AIPI) Dashboard
Context – The International Monetary Fund (IMF) released an Artificial Intelligence Preparedness Index (AIPI) Dashboard recently.
Incorrect
Solution (b)
Artificial Intelligence Preparedness Index (AIPI) assesses the level of AI preparedness across 174 countries. The rating for each country is given based on the assessment of readiness in four key areas – digital infrastructure, human capital and labour market policies, innovation and economic integration, and regulation and Ethics. The International Monetary Fund (IMF) released an Artificial Intelligence Preparedness Index (AIPI) Dashboard
Context – The International Monetary Fund (IMF) released an Artificial Intelligence Preparedness Index (AIPI) Dashboard recently.
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Question 2 of 5
2. Question
Consider the following countries
- Thailand
- Vietnam
- Philippines
- Cambodia
- Malaysia
How many of the above mentioned countries border South China Sea
Correct
Solution (b)
Statement Analysis:
South China Sea is an arm of western Pacific Ocean in Southeast Asia. It is south of China, east & south of Vietnam, west of the Philippines and north of the island of Borneo. Bordering states & territories (clockwise from north): the People’s Republic of China, the Republic of China (Taiwan), the Philippines, Malaysia, Brunei, Indonesia, Singapore and Vietnam
Context – India recently said it opposes unilateral actions seeking to change the status quo by force in South China Sea
Incorrect
Solution (b)
Statement Analysis:
South China Sea is an arm of western Pacific Ocean in Southeast Asia. It is south of China, east & south of Vietnam, west of the Philippines and north of the island of Borneo. Bordering states & territories (clockwise from north): the People’s Republic of China, the Republic of China (Taiwan), the Philippines, Malaysia, Brunei, Indonesia, Singapore and Vietnam
Context – India recently said it opposes unilateral actions seeking to change the status quo by force in South China Sea
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Question 3 of 5
3. Question
With respect to ‘Interest Equalisation Scheme’, consider the following statements
Statement 1 – The scheme helps the identified export sectors to be internationally competitive and to achieve a high level of export performance.
Statement 2 – An eligible exporter has to submit a certification from the external auditor to the Reserve bank of India to claim this benefit
Which one of the following is correct in respect of the above statements?
Correct
Solution (c)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect The scheme helps the identified export sectors to be internationally competitive and to achieve a high level of export performance. The Scheme is jointly monitored by the Directorate General of Foreign Trade (DGFT) and the RBI through a consultative mechanism. An eligible exporter has to submit a certification from the external auditor to the concerned bank to claim this benefit. Banks provide IES benefits to the eligible exporters and claim a reimbursement from the RBI based on the external auditor certification furnished by the exporter. It is being implemented by the RBI through various Public and non-Public Sector banks that provide pre- and post-shipment credit to the exporters. Context – The Department of Commerce has extended the Interest Equalisation Scheme for pre- and post-shipment rupee export credit for Micro, Small and Medium-scale (MSME) exporters till August 31.
Incorrect
Solution (c)
Statement Analysis:
Statement 1 Statement 2 Correct Incorrect The scheme helps the identified export sectors to be internationally competitive and to achieve a high level of export performance. The Scheme is jointly monitored by the Directorate General of Foreign Trade (DGFT) and the RBI through a consultative mechanism. An eligible exporter has to submit a certification from the external auditor to the concerned bank to claim this benefit. Banks provide IES benefits to the eligible exporters and claim a reimbursement from the RBI based on the external auditor certification furnished by the exporter. It is being implemented by the RBI through various Public and non-Public Sector banks that provide pre- and post-shipment credit to the exporters. Context – The Department of Commerce has extended the Interest Equalisation Scheme for pre- and post-shipment rupee export credit for Micro, Small and Medium-scale (MSME) exporters till August 31.
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Question 4 of 5
4. Question
Consider the following statements with respect to ‘Financial Action Task Force (FATF)’
- It is an intergovernmental organization founded on an initiative of the G7 countries
- It monitors progress in implementing its recommendations through “mutual evaluations” of member countries
- India is one of the observers of FATF
How many of the statement(s) given above are correct
Correct
Solution (b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Incorrect The Financial Action Task Force (FATF) is an intergovernmental organization founded in 1989. It is an initiative of the G7 countries to develop policies to combat money laundering. In 2001, its mandate was expanded to include terrorism financing. It has also started dealing with virtual currencies. FATF monitors progress in implementing its recommendations through “peer reviews” (“mutual evaluations”) of member countries. Mutual Evaluation Process is a comprehensive and rigorous assessment conducted to evaluate a country’s compliance with international standards for combating money laundering (ML) and terrorist financing (TF) India became an Observer at FATF in 2006. In 2010, India was taken in as the 34th country member of FATF. Context – India has achieved an outstanding outcome in the Mutual Evaluation conducted during 2023-24 by the Financial Action Task Force (FATF).
Incorrect
Solution (b)
Statement Analysis:
Statement 1 Statement 2 Statement 3 Correct Correct Incorrect The Financial Action Task Force (FATF) is an intergovernmental organization founded in 1989. It is an initiative of the G7 countries to develop policies to combat money laundering. In 2001, its mandate was expanded to include terrorism financing. It has also started dealing with virtual currencies. FATF monitors progress in implementing its recommendations through “peer reviews” (“mutual evaluations”) of member countries. Mutual Evaluation Process is a comprehensive and rigorous assessment conducted to evaluate a country’s compliance with international standards for combating money laundering (ML) and terrorist financing (TF) India became an Observer at FATF in 2006. In 2010, India was taken in as the 34th country member of FATF. Context – India has achieved an outstanding outcome in the Mutual Evaluation conducted during 2023-24 by the Financial Action Task Force (FATF).
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Question 5 of 5
5. Question
Consider the following pairs
Country Reason in news 1 Sudan Food security crisis 2 Bolivia Lithium exploration deal 3 Argentina Attempted coup How many of the above mentioned pairs are correctly matched?
Correct
Solution (a)
Statement Analysis:
Country Reason in news Sudan Food security crisis Bolivia Attempted coup Argentina New economic package Context – These countries were in news for the above mentioned reasons over the last week
Incorrect
Solution (a)
Statement Analysis:
Country Reason in news Sudan Food security crisis Bolivia Attempted coup Argentina New economic package Context – These countries were in news for the above mentioned reasons over the last week
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