Q1. Consider the following statements:

  1. A Money Bill is certified by the Speaker as such only those Financial Bills that carry the Speaker’s certification are Money Bills.
  2. The procedure of passage of Money Bills gives greater powers to Lok Sabha than Rajya Sabha.

Which of the Statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Option C is correct.

Both statements are correct. A Money Bill is certified by the Speaker as such only those Financial Bills that carry the Speaker’s certification are Money Bills. The procedure of passage of Money Bills gives greater powers to Lok Sabha than Rajya Sabha.           

https://indianexpress.com/article/explained/explained-what-is-money-bill-and-financial-bill/

Q2. With reference to the Financial Action Task Force (FATF), consider the following statements:

  1. The FATF is a global watchdog that was founded to tackle money laundering initially but its role became prominent post the 9/11 terror attacks.
  2. FATF grey list constitutes countries that are considered as a safe haven for terror funding and money laundering.

Which of the Statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Option C is correct.

Both statements are correct. The FATF is a global watchdog that was founded to tackle money laundering initially but its role became prominent post the 9/11 terror attacks. FATF grey list constitutes countries that are considered as a safe haven for terror funding and money laundering.

https://timesofindia.indiatimes.com/world/pakistan/what-is-fatf-and-why-is-pakistan-on-grey-list/articleshow/78831851.cms

Q3. Consider the following statements:

  1. Foldscope is an ultra-affordable paper microscope, which is portable and durable while performing on par with conventional research microscopes.
  2. It can also be used to diagnose diseases such as COVID-19.

 Which of the statements given above is/are correct?

 (a) 1 only

 (b) 2 only

 (c) Both 1 and 2

 (d) Neither 1 nor 2

Option A is correct.

Statement 1 is correct. Foldscope is an ultra-affordable paper microscope, which is portable and durable while performing on par with conventional research microscopes.

Statement 2 is incorrect. It can be used to diagnose diseases such as oral health, monitor kidney stones among others.

https://www.foldscope.com/

https://spectrum.ieee.org/geek-life/tools-toys/foldscope-a-paper-microscope-you-can-attach-to-your-smartphone

Q4. Consider the following statements:

  1. Variyamkunnath Kunjahammed Haji, is an important figure in the echelons of Maratha’s colonial history as a rebel leader, who took on the mighty British Raj
  2. He declared his territory as an ‘independent state’ during the Second World War.

 Which of the statements given above is/are correct?

 (a) 1 only

 (b) 2 only

 (c) Both 1 and 2

 (d) Neither 1 nor 2

Option D is correct.

Both statements are incorrect. Kunjahammed Haji is an important figure in the echelons of Kerala’s colonial history as a rebel leader who took on the mighty British Raj. Haji’s early life was fascinated with traditional music-based art forms like Daffumutt and poems like ‘Malappuram Padappattu’ and ‘Badr Padappattu’ and how he used art as an instrument to rally the locals against the British.

He led Malabar uprising in 1921 and was a staunch supporter of Khilafat movement. He declared his territory as an ‘independent state’ in August 1921, with himself being its undisputed ruler.

https://indianexpress.com/article/explained/explained-variyamkunnath-kunjahammed-haji-the-khilafat-leader-6471224/

Q5. With reference to the International Comparison Program (ICP), consider the following statements:

  1. It is the largest worldwide data collection initiative, under the guidance of UN Statistical Commission (UNSC), with the goal of producing purchasing power parities (PPPs).
  2. According to the World Bank’s new PPPs under the ICP, India is the largest economy in terms of its PPP-based share in global Actual Individual Consumption and Global Gross Capital Formation.

Which of the Statements given above is/are correct?

(a) 1 only

 (b) 2 only

 (c) Both 1 and 2

 (d) Neither 1 nor 2

Option A is correct.

Statement 1 is correct. It is the largest worldwide data collection initiative, under the guidance of UN Statistical Commission (UNSC), with the goal of producing purchasing power parities (PPPs).

Statement 2 is incorrect. According to the World Bank’s new PPPs under the ICP, India is the third largest economy in terms of its PPP-based share in global Actual Individual Consumption and Global Gross Capital Formation.

https://www.news18.com/news/business/india-retains-position-as-third-largest-economy-in-terms-of-purchasing-power-parity-for-2017-2683633.html

https://economictimes.indiatimes.com/news/economy/indicators/india-retains-its-position-as-3rd-largest-economy-on-ppp-basis-for-2017/articleshow/76532262.cms

Q6. Consider the following statements:

  1. Common equity Tier 1 capital comprises only bank’s core capital.
  2. Additional Tier 1 capital is not a common equity, but is eligible to be included in this tier. 

Which of the Statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Option B is correct.

Statement 1 is incorrect. Common equity Tier 1 capital comprises a bank’s core capital and includes common shares, stock surpluses, retained earnings among others.

Statement 2 is correct. Additional Tier 1 capital are not common equity, but are eligible to be included in this tier. 

https://www.investopedia.com/terms/c/common-equity-tier-1-cet1.asp

Q7. With reference to the recently launched Sahakar Mitra Scheme, consider the following statements:

  1.  It is an Internship Programme that will provide young professionals with an opportunity of practical exposure and learning from the working of the NITI Aayog.
  2. It has been launched by the Ministry of Education.

Which of the Statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Option D is correct. 

Statement 1 is incorrect. It is an Internship Programme that will provide young professionals with an opportunity of practical exposure and learning from the working of the National Cooperative Development Corporation.

Statement 2 is incorrect. It has been launched by the Ministry of Agriculture and Farmer’s welfare.

https://krishijagran.com/agriculture-world/sahakar-mitra-scheme-on-internship-programme-government-s-latest-swadeshi-push-to-agriculture/

Q8. With reference to the Forum of Election Management Bodies of South Asia (FEMBoSA), consider the following statements:

  1. It is a regional establishment to increase mutual cooperation in respect to the common interests of the SAARC's Election Management Bodies.
  2. India is also a part of this forum.

Which of the Statements given above is/are correct?

(a) 1 only

 (b) 2 only

 (c) Both 1 and 2

 (d) Neither 1 nor 2

Option C is correct.

Statement 1 is correct. It is a regional establishment to increase mutual cooperation in respect to the common interests of the SAARC's Election Management Bodies.

Statement 2 is correct. India is a part of the forum.

https://www.ksgindia.com/study-material/news-for-aspirants/22694-fembosa-in-delhi.html

Ques  Ans:

1-(c)

2-(c)

3-(a)

4-(d)

5-(a)

6-(b)

7-(d)

8-(c)