Q1. Consider the following statements and choose the incorrect option:
- The UN Office for Disaster Risk Reduction (UNDRR) is an organisational unit of the UN Secretariat set up to facilitate the implementation of the International Strategy for Disaster Reduction (ISDR).
- Global Assessment Report on Disaster Risk Reduction (GAR) is published by UNDRR.
- Sendai Framework for Disaster Reduction is the successor instrument to the Hyogo Framework for Action (HFA).
- 1 only
- 2 and 3 only
- 3 only
- None of the above
Q2. Which of the following countries are members of both the Asia-Pacific Group on
Money Laundering and the Financial Action Task Force (FATF), choose the correct option?
- India
- Hong Kong
- United States
- Pakistan
- Australia
- 1, 2, 4 and 5 only
- 1, 2, 3 and 5 only
- 1, 4 and 5 only
- 1, 2 and 3 only
- With reference to Sovereign Gold Bond (SGB) scheme, consider the following statements, choose the incorrect option:
- It was launched with an objective to increase the demand for physical gold and
increase the domestic savings.
- In this scheme, the Gold Bonds are issued by the Reserve Bank of India on behalf of
the Union Government.
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Q4:
With reference to Nobel Prize in Economic Sciences 2020, consider the following statements, choose the correct option:
- It is awarded to Paul Milgrom and Robert Wilson.
- It is awarded for development of auction theory.
- It is also known as Sveriges Riksbank Prize in Economic Sciences.
- 1 and 2 only
- 2 only
- 2 and 3 only
- 1, 2 and 3
Answers
Q1. Consider the following statements and choose the incorrect option:
- The UN Office for Disaster Risk Reduction (UNDRR) is an organisational unit of the UN Secretariat set up to facilitate the implementation of the International Strategy for Disaster Reduction (ISDR).
- Global Assessment Report on Disaster Risk Reduction (GAR) is published by UNDRR.
- Sendai Framework for Disaster Reduction is the successor instrument to the Hyogo Framework for Action (HFA).
- 1 only
- 2 and 3 only
- 3 only
- None of the above
Answer: d
Explanation:
All the statements are correct.
Q2. Which of the following countries are members of both the Asia-Pacific Group on
Money Laundering and the Financial Action Task Force (FATF), choose the correct option?
- India
- Hong Kong
- United States
- Pakistan
- Australia
- 1, 2, 4 and 5 only
- 1, 2, 3 and 5 only
- 1, 4 and 5 only
- 1, 2 and 3 only
Answer: b
Explanation:
Pakistan is not a member state of FATF. It is an FATF Associate Member of the Asia/Pacific Group on Money Laundering (APG). FATF Asia-Pacific Group is one of the regional affiliates of the Financial Action Task Force.
India, China, Australia, Canada, Hong Kong, Japan, Korea, Malaysia, New Zealand Singapore and the United States are members of both APG as well as head FATF.
- With reference to Sovereign Gold Bond (SGB) scheme, consider the following statements, choose the incorrect option:
- It was launched with an objective to increase the demand for physical gold and
increase the domestic savings.
- In this scheme, the Gold Bonds are issued by the Reserve Bank of India on behalf of
the Union Government.
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Answer : a
Explanation
The Sovereign Gold Bond (SGB) scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings – used for the purchase of gold – into financial savings.
The Gold Bonds are issued as Government of India Stock under the Government Securities (GS) Act, 2006.
These are issued by the Reserve Bank of India (RBI) on behalf of the Government of India.
The Gold Bonds are sold through Commercial banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices (as may be notified) and recognized stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.
Q4:
With reference to Nobel Prize in Economic Sciences 2020, consider the following statements, choose the correct option:
- It is awarded to Paul Milgrom and Robert Wilson.
- It is awarded for development of auction theory.
- It is also known as Sveriges Riksbank Prize in Economic Sciences.
- 1 and 2 only
- 2 only
- 2 and 3 only
- 1, 2 and 3
Answer : d
Explanation
The Royal Swedish Academy of Sciences awarded the Nobel prize in Economic Sciences, 2020 to Paul Milgrom and Robert Wilson (both from the USA) for their work on commercial auctions.
Milgrom and Wilson improved the auction theory and invented new auction formats for auctioning off many interrelated objects simultaneously, on behalf of a seller motivated by broad societal benefit rather than maximal revenue.
Auction theory studies how auctions are designed, what rules govern them, how bidders behave and what outcomes are achieved.
The Nobel Prize in Economic Sciences is officially titled the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel”.
It was created in 1968 by a donation from Sweden’s central bank Sveriges Riksbank to the Nobel Foundation to commemorate the bank’s 300 anniversary and includes a 10 million Swedish kronor award money — roughly Rs 8.33 crore.
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