GK Quiz | 28 September 2020

Q1. With reference to the United Nations Commission on International Trade Law (UNCITRAL), consider the following statements:

1. It was established before India’s Independence.
2. It is a subsidiary body of the United Nations General Assembly.
3. Its annual session was held only in Vienna, Austria.

Which of the statement(s) given above is/are correct?

1. 1 and 3 only
2. 2 only
3. 1 and 2 only
4. 1,2 and 3

Solution: B)

Explanation:

Statement 1,2 and 3: About United Nations Commission on International Trade Law (UNCITRAL):

• It was established by the United Nations General Assembly (UNGA) in 1966.
• It is a subsidiary body of the UN General Assembly.
• It is responsible for helping to facilitate international trade and investment.
• Its official mandate is “to promote the progressive harmonization and unification of international trade law” through conventions, model laws, and other instruments that address key areas of commerce, from dispute resolution to the procurement and sale of goods.
• It is headquartered at Vienna, Austria.
• Its annual sessions held alternately in New York City and Vienna.

So, statement 1 and 3 are incorrect and statement 2 is correct. Hence, option B is correct.

 

Q2. With reference to Retrospective Taxation, consider the following statements:

1. It means creating an additional charge or levy of tax by way of an amendment from specified date in the past.
2. It hurts companies that had knowingly or unknowingly interpreted the tax rules differently.

Which of the statement(s) given above is/are incorrect?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Solution: D)

Explanation:

Statements 1 and 2: About retrospective tax:

• It means creating an additional charge or levy of tax by way of an amendment from specified date in the past.
• It allows a country to pass a rule on taxing certain products, items or services and deals and charge companies from a time behind the date on which the law is passed.
• Countries use this route to correct any anomalies in their taxation policies that have, in the past, allowed companies to take advantage of such loopholes.
• Validity/reasonableness of retrospective amendment/tax depends on facts and circumstance of each case and need to be analyzed on the merits of amendment in light of facts and circumstance under which such amendment is made.
• Many countries including India, the Netherlands, Canada, Belgium, the USA, the UK, Australia and Italy have retrospectively taxed companies.
• It hurts companies that had knowingly or unknowingly interpreted the tax rules differently.

So, both statements are correct and hence, option D is correct.

 

Q3. Which of the following statement(s) is/are incorrect about Permanent Court of Arbitration (PCA)?

1. It is an independent non-governmental organization.
2. India is not a party of the Permanent Court of Arbitration.
3. It is a United Nations Agency.

Select the correct answer using the codes given below:

1. 3 only
2. 2 only
3. 1,2 and 3
4. 1 and 2 only

Solution: C)

Explanation:

Statements 1,2 and 3: About Permanent Court of Arbitration (PCA):

• It is an intergovernmental organization established by a treaty at the First Hague Peace Conference, Netherland in 1899.
• It is dedicated to serve the international community in the field of dispute resolution and to facilitate arbitration and other forms of dispute resolution between States.
• It is headquartered in The Hague, Netherlands.
• It is not a court in the traditional sense but provides services of an arbitral tribunal to resolve disputes that arise out of international agreements between member states, international organizations or private parties. 
• The organization is not a United Nations agency, but the PCA is an official United Nations Observer.
• It is constituted through two separate multilateral conventions with a combined membership of 122 states
• According to The Hague Convention of 1899, India is a party of the PCA.

So, all statements are incorrect. Hence, option C is correct.

 

Q4. Consider the following statements about Domestic Systemically Important Insurers (D-SIIs):

1. D-SIIs are perceived as insurers that are ‘too big or too important to fail’ (TBTF).
2. D-SIIs are identified by the Insurance Regulatory and Development Authority of India (IRDAI).
3. The continued functioning of D-SIIs is critical for the uninterrupted availability of insurance services to the national economy.

Which of the statement(s) given above is/are correct?

1. 1 and 3 only
2. 1,2 and 3
3. 2 and 3 only
4. 1 and 2 only

Solution: B)

Explanation:

Statements 1,2 and 3: The Life Insurance Corporation of India (LIC), General Insurance Corporation of India and The New India Assurance Co have been identified as Domestic Systemically Important Insurers (D-SIIs) for 2020-21 by Insurance Regulatory and Development Authority of India (IRDAI).

About D-SIIs:

• D-SIIs refer to insurers of such size, market importance and domestic and global inter-connectedness whose distress or failure would cause a significant dislocation in the domestic financial system.
• D-SIIs are perceived as insurers that are ‘too big or too important to fail’ (TBTF).
• The continued functioning of D-SIIs is critical for the uninterrupted availability of insurance services to the national economy.

So, all statements are correct and hence, option B is correct.

 

Q5. Presently, which of the following banks have been identified as Domestic Systemically Important Bank (D-SIBs) in India?

1. State Bank of India (SBI)
2. HDFC Bank
3. ICICI Bank

Select the correct answer using the codes given below:

1. 1 and 3 only
2. 3 only
3. 2 and 3 only
4. 1,2 and 3

Solution: D)

Explanation:

About Domestic Systemically Important Bank (D-SIBs):

• D-SIB means that the bank is too big to fail.
• According to the RBI, some banks become systemically important due to their size, cross-jurisdictional activities, complexity and lack of substitute and interconnection.
• Banks whose assets exceed 2% of GDP are considered part of this group.
• All the banks under D-SIB are required to maintain higher share of risk-weighted assets as tier-I equity.

Hence, option D is correct.

 

Q6. Which of the following statement(s) is/are correct about Leuser Ecosystem?

1. It is a forest area on the Cook Islands.
2. It is a UNESCO World Heritage Site.
3. Its landscape includes lowland, montane rainforests and carbon-rich peatlands.

Select the correct answer using the codes given below:

1. 1 and 3 only
2. 1 and 2 only
3. 2 and 3 only
4. 1,2 and 3

Solution: C)

Explanation:

Statements 1,2 and 3: About Leuser Ecosystem:

• It is a forest area on the island of Sumatra, Indonesia.
• It is among the most ancient and life-rich ecosystems ever documented by science and a world-class hotspot of biodiversity
• It is widely acknowledged to be among the most important areas of intact rainforest left in Southeast Asia.
• It is a UNESCO World Heritage Site.
• It spans 2.6 million hectares, stretches across the province of Aceh and North Sumatra, Indonesia.
• Its landscape includes lowland and montane rainforests and over 185,000 hectares of carbon-rich peatlands.
• It is the last place of sufficient size and quality to support viable populations of rare species like Sumatran tigers, orangutans, rhinos, elephants, clouded leopards and sun bears. Thus, it is among the most important forests left in Southeast Asia.

So, statement 1 is incorrect and statements 2 and 3 are correct. Hence, option C is correct.

 

Q7. Consider the following statements about Sumatran Orangutan:

1. These are found only in the north of the Indonesian island of Sumatra.
2. These are almost exclusively arboreal
3. They are listed as Critically Endangered on IUCN Red List.

Which of the statement(s) given above is/are correct?

1. 1 and 3 only
2. 2 only
3. 1,2 and 3
4. None

Solution: C)

Explanation:

Statements 1,2 and 3: About Sumatran Orangutan

• It is one of the three species of orangutans.
• These are found only in the north of the Indonesian island of Sumatra.
• Historically, these were distributed over the entire island of Sumatra and further south into Java. The species’ range is now restricted to the north of the island, with a majority in the provinces of North Sumatra and Aceh.
• These are almost exclusively arboreal which means they live among the trees of tropical rainforests.
• They live in Tropical and Subtropical Moist Broadleaf Forests.
• They are listed as Critically Endangered on IUCN Red List.

So, all statements are correct and hence, option C is correct.

 

Q8. With reference to the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY), consider the following statements:

1. It was launched on 25^th September 2010.
2. It aims to target youth between the ages of 20–40 years.
3. It is a part of the National Rural Livelihood Mission (NRLM).

Which of the statement(s) given above is/are correct?

1. 3 only
2. 1 and 2 only
3. 1,2 and 3
4. None

Solution: A)

Explanation:

Statements 1,2 and 3: About Deen Dayal Upadhyaya Grameen Kaushalya Yojana or DDU-GKY:

• It was launched on 25^th September 2014.
• It is a demand-driven placement linked skill training initiative of Ministry of Rural Development.
• It is a part of the National Rural Livelihood Mission (NRLM).
• It focuses on 15-35 years old rural youth from poor families.

Main objectives of DDY-GKY:

• Enable Poor and Marginalized to Access Benefits.
• Mandatory coverage of socially disadvantaged groups (SC/ST 50%; Minority 15%; Women 33%)
• Shifting Emphasis from Training to Career Progression
• Post-placement support, migration support and alumni network
• Proactive Approach to Build Placement Partnerships
• Guaranteed Placement for at least 75% trained candidates.
• Enhancing the Capacity of Implementation Partners
• Nurturing new training service providers and developing their skills.
• Greater emphasis on projects for poor rural youth in Jammu and Kashmir (HIMAYAT)

So, statements 1 and 2 are incorrect and statement 3 is correct. Hence, option A is correct.

 

Q9. Which of the following is/are the functions of the National Medical Commission?

1. To assess the requirements of human resources and infrastructure in healthcare
2. To lay down the policies for regulating medical institutions and medical professionals.
3. To frame the guidelines for determination of fee for up to 50% of the seats in the private medical institutions

Select the correct answer using the codes given below:

1. 1 and 3 only
2. 2 only
3. 2 and 3 only
4. 1,2 and 3

Solution: D)

Explanation:

The Union government has set up the National Medical Commission (NMC), which has replaced the Medical Council of India (MCI).

About National Medical Commission:

• It will function as the country’s top regulator of medical education.
• It will have the following four separate autonomous boards:

• • Undergraduate medical education
  • Postgraduate medical education
  • Medical assessment and rating
  • Ethics and medical registration

• It will consist of 33 members, including the chairman, 10 ex-officio members and 22 part-time members appointed by the Central government.

Following are some functions of NMC:

• laying down policies for regulating medical institutions and medical professionals.
• Ensuring compliance by the State Medical Councils with the regulations made under the Bill.
• Framing guidelines for determination of fee for up to 50% of the seats in the private medical institutions.
• Assessing the requirements of human resources and infrastructure in healthcare.

Hence, option D is correct.

 

Q10. Which of the following statement(s) is/are correct regarding Scrub Typhus?

1. It is caused by a virus called Orientia tsutsugamushi.
2. It is usually transmitted by mites that are found in the shrubs in hilly areas.
3. Vaccine is available to treat this disease.

Select the correct answer using the codes given below:

1. 1 and 3 only
2. 2 only
3. 2 and 3 only
4. 1,2 and 3

Solution: B)

Explanation:

Statement 1,2 and 3: About Scrub Typhus or bush typhus

• It is a bacterial disease caused by a parasite called Orientia tsutsugamushi.
• The mites (Leptotrombidium deliense, commonly known as trombiculid mite) that because it resides in vegetation predominantly comprising small shrubs. Thus, this disease is also known as bush typhus
• It is more common during the wet season when the mites lay eggs.
• It is usually transmitted by mites that are found in the shrubs in hilly areas but can also be transmitted by lice, ticks and fleas.
• Fever, headache, body aches, and sometimes rash are the main symptoms of Scrub Typhus.
• At present, no vaccine is available.

So, statements 1 and 3 are incorrect and statement 2 is correct. Hence, option B is correct.

 

Q11. Consider the following statements:

1.  The G7 was set up in 1975 as an informal forum bringing together the leaders of the world’s leading industrial nations.
2. India joined the group in 1988.

Which of the statement(s) given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Solution: A)

Explanation:

Statements 1 and 2: About G7:

• It was set up in 1975 as an informal forum bringing together the leaders of the world’s leading industrial nations.
• It is a forum of the world’s seven largest developed economies
• Members: France, Germany, Italy, The United Kingdom, The United States of America, Canada and Japan.
• Russia was added to the group in 1998, which led G7 to become G8. However, it was suspended from the group after the annexation of Crimea and tensions in Ukraine in 2014.

So, statement 1 is correct and statement 2 is incorrect. Hence, option A is correct.

 

Q12. Consider the following statement about Japan:

1. It is an island country in the Indian Ocean.
2. It borders the Sea of Japan to the East.
3. East China Sea is north to Japan.

Which of the statement(s) given above is/are correct?

1. 2 and 3 only
2. 3 only
3. 1 and 2 only
4. None

Solution: D)

Explanation:

About Japan:

• It is an island country of East Asia in the northwest Pacific Ocean.
• It is part of the Pacific Ring of Fire.
• It extends from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south and borders the Sea of Japan to the west.
• Hokkaido, Honshu, Shikoku, Kyushu and Okinawa are its five main islands from north to south.

So, all statements are incorrect. Hence, option D is correct.

 

Q13. Consider the following statements about Carbon tax:

1. It levies a fee on the production, distribution or use of fossil fuels based on how much carbon their combustion emits.
2. It increases the environmental costs associated with excess carbon pollution.
3. It checks the use of fossil fuel. 

Which of the statement(s) given above is/are correct?

1. 1 and 3 only
2. 2 only
3. 1,2 and 3
4. None

Solution: A)

Explanation:

Statement 1,2 and 3: About Carbon tax:

• It is a form of pollution tax which levies a fee on the production, distribution or use of fossil fuels based on how much carbon their combustion emits.
• It offers social and economic benefits and makes alternative energy more cost-competitive with cheaper, polluting fuels like coal, natural gas and oil. 
• It is a tax that increases revenue without significantly altering the economy.
• It encourages firms and consumers to look for alternatives.
• It checks the use of fossil fuel.
• It reduces the environmental costs associated with excess carbon pollution.

A carbon tax at $35 per tonne of carbon dioxide emissions in India is estimated to be capable of generating some 2% of GDP through 2030.

So, statements 1 and 3 are correct and statement 2 is incorrect. Hence, option A is correct.