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The following quiz will have 5-10 MCQs. The questions are mainly framed from The Hindu and PIB news articles.
This quiz is intended to introduce you to concepts and certain important facts relevant to UPSC IAS civil services preliminary exam 2021. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.
Please try to enjoy questions, discuss the concepts and facts they try to test from you and suggest improvements.
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Puucho CURRENT AFFAIRS QUIZ 2020
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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
Consider the following statements.
- As per the Seventh schedule of the Constitution, police are under the Concurrent list.
- 2. Justice Malimath committee was established to propose reforms in the criminal Justice System.
Which of the above statements is/are correct?
CorrectSolution: b)
Justice Malimath Committee was constituted to suggest reforms in the criminal justice system.
As per Seventh Schedule, ‘Police’ and ‘Public Order’ are State subjects under the Constitution.
IncorrectSolution: b)
Justice Malimath Committee was constituted to suggest reforms in the criminal justice system.
As per Seventh Schedule, ‘Police’ and ‘Public Order’ are State subjects under the Constitution.
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Question 2 of 5
1 points
Consider the following statements regarding Participatory Notes (P-Notes).
- P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly.
- P-notes constitute the maximum share under the FPI investments in India.
Which of the above statements is/are correct?
CorrectSolution: a)
P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process.
The rise in the value of investments via P-Notes into Indian markets in 2020 and so far this calendar year is “not substantial enough”.SEBI has put in place a strong regulatory framework with stringent KYC norms for the FPIs.
FPIs’ total Assets Under Management in India currently exceed $55 billion and P-Notes account for less than 2 per cent. Nearly a third of the FPI flows into India originate from three jurisdictions — Luxembourg, Singapore and Mauritius.
IncorrectSolution: a)
P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process.
The rise in the value of investments via P-Notes into Indian markets in 2020 and so far this calendar year is “not substantial enough”.SEBI has put in place a strong regulatory framework with stringent KYC norms for the FPIs.
FPIs’ total Assets Under Management in India currently exceed $55 billion and P-Notes account for less than 2 per cent. Nearly a third of the FPI flows into India originate from three jurisdictions — Luxembourg, Singapore and Mauritius.
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Question 3 of 5
1 points
Consider the following statements regarding Harmonised System of Nomenclature (HSN) code.
- It is a multipurpose international product nomenclature developed by the World Trade Organization (WTO).
- It was developed with the vision of facilitating the classification of goods all over the World in a systematic manner.
Which of the above statements is/are correct?
CorrectSolution: b)
HSN stands for Harmonised System of Nomenclature code. It is mandatory for both B2B and B2C tax invoices on the supplies of Goods and Services. This was introduced in 1988 by the World Customs Organization (WCO). This was introduced for a systematic classification of goods both national and international. This is a 6-digit code that classifies various products. India has been using HSN codes since 1986 to classify commodities for Customs and Central Excise. HSN codes apply to Customs and GST. The codes prescribed in the Customs tariff are used for the GST purposes too. HSN is used all over the world. There are different HSN codes for various commodities. HSN codes remove the need to upload details about the goods which makes filing of GST returns easier.
HSN code is required for anything from animal products, mineral products, plastic articles to footwear, arms and ammunition and machinery.
SourceIncorrectSolution: b)
HSN stands for Harmonised System of Nomenclature code. It is mandatory for both B2B and B2C tax invoices on the supplies of Goods and Services. This was introduced in 1988 by the World Customs Organization (WCO). This was introduced for a systematic classification of goods both national and international. This is a 6-digit code that classifies various products. India has been using HSN codes since 1986 to classify commodities for Customs and Central Excise. HSN codes apply to Customs and GST. The codes prescribed in the Customs tariff are used for the GST purposes too. HSN is used all over the world. There are different HSN codes for various commodities. HSN codes remove the need to upload details about the goods which makes filing of GST returns easier.
HSN code is required for anything from animal products, mineral products, plastic articles to footwear, arms and ammunition and machinery.
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Question 4 of 5
1 points
Fortaleza Declaration, is related to which of the following grouping?
CorrectSolution: b)
During the sixth BRICS Summit in Fortaleza (2014), the leaders signed the Agreement establishing the New Development Bank (NDB).
Fortaleza Declaration stressed that the NDB will strengthen cooperation among BRICS and will supplement the efforts of multilateral and regional financial institutions for global development thus contributing to sustainable and balanced growth.
IncorrectSolution: b)
During the sixth BRICS Summit in Fortaleza (2014), the leaders signed the Agreement establishing the New Development Bank (NDB).
Fortaleza Declaration stressed that the NDB will strengthen cooperation among BRICS and will supplement the efforts of multilateral and regional financial institutions for global development thus contributing to sustainable and balanced growth.
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Question 5 of 5
1 points
Consider the following statements.
- When Geomagnetic reversal occur, the animals that use Earth’s magnetic field for navigation like sea turtles could get lost during their routine journeys.
- An increase in the temperature due to climate can become a threat to the genetic diversity of sea turtles.
Which of the above statements is/are correct?
CorrectSolution: c)
A geomagnetic reversal is a change in a planet’s magnetic field such that the positions of magnetic north and magnetic south are interchanged (not to be confused with geographic north and geographic south). Another interesting consequence will be that animals that use Earth’s magnetic field for navigation—including birds, salmon, and sea turtles—could get lost during their routine journeys.
Because sea turtles use both marine and terrestrial habitats during their life cycles, the affects of climate change are likely to have a devastating impact on these species.
Because sea turtles are reptiles, they rely on the temperature of the sand in which the eggs incubate to determine the gender of the hatchling in a nest. Typically, the eggs in the lower, cooler, part of the nest will become males, while the eggs in the upper, warmer, part of the nest will become females. With increasing nest temperatures, scientists predict that there will be more female than male hatchlings, creating a significant threat to genetic diversity.
IncorrectSolution: c)
A geomagnetic reversal is a change in a planet’s magnetic field such that the positions of magnetic north and magnetic south are interchanged (not to be confused with geographic north and geographic south). Another interesting consequence will be that animals that use Earth’s magnetic field for navigation—including birds, salmon, and sea turtles—could get lost during their routine journeys.
Because sea turtles use both marine and terrestrial habitats during their life cycles, the affects of climate change are likely to have a devastating impact on these species.
Because sea turtles are reptiles, they rely on the temperature of the sand in which the eggs incubate to determine the gender of the hatchling in a nest. Typically, the eggs in the lower, cooler, part of the nest will become males, while the eggs in the upper, warmer, part of the nest will become females. With increasing nest temperatures, scientists predict that there will be more female than male hatchlings, creating a significant threat to genetic diversity.
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