[Mission 2023] QUIZ : Insights Current Affairs Quiz , 1 July 2022 – INSIGHTSIAS

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The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam.

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Question 1 of 5

1 points

Which of the following statements describe the term ‘Demographic Dividend’?

Correct

Solution: c)

Demographic dividend, as defined by the United Nations Population Fund, is “the economic growth potential that can result from shifts in a population’s age structure, mainly when the share of the working-age population is larger than the non-working-age share of the population”.

Incorrect

Solution: c)

Demographic dividend, as defined by the United Nations Population Fund, is “the economic growth potential that can result from shifts in a population’s age structure, mainly when the share of the working-age population is larger than the non-working-age share of the population”.
Question 2 of 5

1 points
Consider the following statements regarding Public Distribution System (PDS).
1. The concept of a buffer stock was first introduced during the Second Five Year Plan.
2. The Central Government takes the responsibility for procurement, storage, transportation and bulk allocation of foodgrains, at subsidised prices.
3. The responsibility of distribution to consumers including target groups through a network of fair price shops (FPSs) rests with the State Governments.
Which of the above statements is/are correct?
Correct

Solution: b)

PDS is operated under the joint responsibility of the Central and State Governments. The Central Government takes the responsibility for procurement, storage, transportation and bulk allocation of foodgrains, at subsidised prices. The responsibility of distribution to consumers including target groups through a network of various fair price shops (FPSs) rests with the State Governments.

The buffer stock provides the basic and most flexible instrument for moderating short-term effects of supply or production shortfalls. The concept of a buffer stock was first introduced during the 4th Five Year Plan (1969-74) and a buffer stock of 5 million tonnes of foodgrains was envisaged. The buffer stock figures are normally reviewed after every 5 years.

Incorrect

Solution: b)

PDS is operated under the joint responsibility of the Central and State Governments. The Central Government takes the responsibility for procurement, storage, transportation and bulk allocation of foodgrains, at subsidised prices. The responsibility of distribution to consumers including target groups through a network of various fair price shops (FPSs) rests with the State Governments.

The buffer stock provides the basic and most flexible instrument for moderating short-term effects of supply or production shortfalls. The concept of a buffer stock was first introduced during the 4th Five Year Plan (1969-74) and a buffer stock of 5 million tonnes of foodgrains was envisaged. The buffer stock figures are normally reviewed after every 5 years.
Question 3 of 5

1 points
Consider the following statements regarding Rare Earth Minerals.
1. The magnets made from rare earths are more powerful than conventional ones.
2. India holds 2nd largest reserves after China.
3. Theyare called’rare earth’ because earlier it was difficult to extract them from their oxides forms technologically.
Which of the above statements is/are correct?
Correct

Solution: d)

The rare earth minerals (REM) are a set of seventeen metallic elements. These include the fifteen lanthanides on the periodic table in addition to scandium and yttrium that show similar physical and chemical properties to the lanthanides.

They are called ‘rare earth‘ because earlier it was difficult to extract them from their oxides forms technologically.

For instance, magnets made from rare earths are many times more powerful than conventional ones.

India has the world’s fifth-largest reserves of rare earth elements, nearly twice as much as Australia, but it imports most of its rare earth needs in finished form from China.

Incorrect

Solution: d)

The rare earth minerals (REM) are a set of seventeen metallic elements. These include the fifteen lanthanides on the periodic table in addition to scandium and yttrium that show similar physical and chemical properties to the lanthanides.

They are called ‘rare earth‘ because earlier it was difficult to extract them from their oxides forms technologically.

For instance, magnets made from rare earths are many times more powerful than conventional ones.

India has the world’s fifth-largest reserves of rare earth elements, nearly twice as much as Australia, but it imports most of its rare earth needs in finished form from China.
Question 4 of 5

1 points
The Department of Financial Services (DFS) oversees several key programs/initiatives. It provides policy support to
1. Public Sector banks (PSBs)
2. Public Sector Insurance Companies (PSICs)
3. Development Financial Institutions (DFIs)
Select the correct answer code:
Correct

Solution: c)

The Department of Financial Services (DFS) oversees several key programs/initiatives and reforms of the Government concerning the Banking Sector, the Insurance Sector and the Pension Sector in India.

The Department provides policy support to the Public Sector banks (PSBs), Public Sector Insurance Companies (PSICs) and Development Financial Institutions (DFIs) like National Bank for Agriculture and Rural Development (NABARD).

Incorrect

Solution: c)

The Department of Financial Services (DFS) oversees several key programs/initiatives and reforms of the Government concerning the Banking Sector, the Insurance Sector and the Pension Sector in India.

The Department provides policy support to the Public Sector banks (PSBs), Public Sector Insurance Companies (PSICs) and Development Financial Institutions (DFIs) like National Bank for Agriculture and Rural Development (NABARD).
Question 5 of 5

1 points
Which of the following nations in the Middle-east is/are land locked?
1. Iran
2. Syria
3. Iraq
4. Turkey
Select the correct answer code:
Correct

Solution: d)

Incorrect

Solution: d)

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