Current Affairs Quiz 07 March 2022
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Current Affairs Quiz 07 March 2022 for UPSC Prelims
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- Question 1 of 5
1. Question
Which of the following statements regarding FATF are correct?
1. The FATF is an UN organization to combat Money Laundering and Terror Financing.
2. FATF is the initiative of the G20 to develop policies to combat money laundering.
3. The FATF headquaters is in Geneva Switzerland.Select the correct answer using the code below.
CorrectAns;- d) None of the above
Financial Action Task Force (FATF)
• The Financial Action Task Force (on Money Laundering) (FATF) is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering.
• In 2001, its mandate was expanded to include terrorism financing.
• FATF is a “policy-making body” that works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
• FATF monitors progress in implementing its Recommendations through “peer reviews” (“mutual evaluations”) of member countries.
• Since 2000, FATF has maintained the FATF blacklist (formally called the “Call for action”) and the FATF greylist (formally called the “Other monitored jurisdictions”).
• The objectives of FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.IncorrectAns;- d) None of the above
Financial Action Task Force (FATF)
• The Financial Action Task Force (on Money Laundering) (FATF) is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering.
• In 2001, its mandate was expanded to include terrorism financing.
• FATF is a “policy-making body” that works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
• FATF monitors progress in implementing its Recommendations through “peer reviews” (“mutual evaluations”) of member countries.
• Since 2000, FATF has maintained the FATF blacklist (formally called the “Call for action”) and the FATF greylist (formally called the “Other monitored jurisdictions”).
• The objectives of FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. - Question 2 of 5
2. Question
Consider the following statements with reference to inflation:
1. Inflation reduces the purchasing power of the currency.
2. Producers are worst affected by inflation.
Which of the statements given above is/are correct?CorrectAnswer: A
Producers are worst affected by fall in prices or deflation. Their profit level falls due to fall
in prices forcing them to reduce investment. Hence, statement 2 is not correct.IncorrectAnswer: A
Producers are worst affected by fall in prices or deflation. Their profit level falls due to fall
in prices forcing them to reduce investment. Hence, statement 2 is not correct. - Question 3 of 5
3. Question
With reference to digital payments, consider the following statements:
1 . BHIM app allows the user to transfer money to anyone with a UPI-enabled bank account.
2 . While a chip-pin debit card has four factors authentication, BHIM app has only two factors of authentication.
Which of the statements given above is/are correct?CorrectAnswer – a
The BHIM apps has three levels of authentication. For one, the app binds with a device’s ID and mobile number, second a user needs to sync whichever bank account (UPI or non-UPI enabled) in order to the conduct transaction. Third, when a user sets up the app they are asked to create a pin which is needed to log into the app. Further, the UPI pin, which a user creates with their bank account is needed to go through with the transaction.
IncorrectAnswer – a
The BHIM apps has three levels of authentication. For one, the app binds with a device’s ID and mobile number, second a user needs to sync whichever bank account (UPI or non-UPI enabled) in order to the conduct transaction. Third, when a user sets up the app they are asked to create a pin which is needed to log into the app. Further, the UPI pin, which a user creates with their bank account is needed to go through with the transaction.
- Question 4 of 5
4. Question
With reference to Lightning, consider the following statements:
1. Lightning is a natural ‘electrical discharge of very short duration and high voltage between a cloud and the ground or within a cloud
2. Inter cloud or intra cloud (IC) lightning are visible and extremely harmful.
3. Cloud to ground (CG) lightning is harmlessWhich of the statements given above is/are correct?
CorrectAnswer: a
What is Lightning?
• Lightning is a natural ‘electrical discharge of very short duration and high voltage between a cloud and the ground or within a cloud’, accompanied by a bright flash and sound, and sometimes thunderstorms.
• In simple words, it is a very rapid and massive discharge of electricity in the atmosphere.
• It happens as a result of the difference in electrical charge between the top and bottom of a cloud, or between 2 clouds or between clouds and the ground.
• Inter cloud or intra cloud (IC) lightning are visible and harmless.
• Cloud to ground (CG) lightning is harmful as the ‘high electric voltage and electric current’ leads to electrocution.IncorrectAnswer: a
What is Lightning?
• Lightning is a natural ‘electrical discharge of very short duration and high voltage between a cloud and the ground or within a cloud’, accompanied by a bright flash and sound, and sometimes thunderstorms.
• In simple words, it is a very rapid and massive discharge of electricity in the atmosphere.
• It happens as a result of the difference in electrical charge between the top and bottom of a cloud, or between 2 clouds or between clouds and the ground.
• Inter cloud or intra cloud (IC) lightning are visible and harmless.
• Cloud to ground (CG) lightning is harmful as the ‘high electric voltage and electric current’ leads to electrocution. - Question 5 of 5
5. Question
The “Cultivating the Common Ground” is conducted by which of the following Organizations?
CorrectAns;- a) IUCN
The Conserving land health is a common concern for both the agriculture and conservation sectors, and will be central to a post-Covid19 recovery. Following the publication of its seminal Common Ground report on agriculture and biodiversity, IUCN held a virtual dialogue to build trust, spark partnerships and kick start joint action.
The Cultivating the Common Ground: mutual benefits for conservation and agriculture.
The International Union for Conservation of Nature (IUCN) and partners have the pleasure of introducing you to the first-of-its-kind private sector focused on Sustainable Agriculture.
IncorrectAns;- a) IUCN
The Conserving land health is a common concern for both the agriculture and conservation sectors, and will be central to a post-Covid19 recovery. Following the publication of its seminal Common Ground report on agriculture and biodiversity, IUCN held a virtual dialogue to build trust, spark partnerships and kick start joint action.
The Cultivating the Common Ground: mutual benefits for conservation and agriculture.
The International Union for Conservation of Nature (IUCN) and partners have the pleasure of introducing you to the first-of-its-kind private sector focused on Sustainable Agriculture.
