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Table of Contents
MCQ ON INTERNATIONAL FINANCIAL INSTITUTIONS
1.How is the United Nations monetary and financial conference wherein the agreements were signed to set up IBRD GATT and IMF commonly known?
a.Bandung conference
b.Bretton woods conference
c.Versailles conference
d.Yalta conference
2.The WTO was founded in 1995 as the successor organization to the
a.UNCTAD
b.IBRD
c.World bank
d.GATT
3.Which of the following is not part of the WTO agreement on agriculture?
a.Input subsidies
b.Export subsidies
c.Domestic support
d.Market access
4.In the terminology of WTO which among the following is not an amber box subsidy?
a.Minimum support price of cereals
b.Subsidy on seeds
c.Subsidy on irrigation rates
d.Cost of government pest control and management
5.Which of the following are covered under TRIPS agreement?
a.Patents designs trademarks copyrights
b.Geographical appellations of origin
c.Trade secrets and layout of integrated chips
d.All of the above
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6.Which of the following is not correct with regard TRIPS agreement?
a.Protection and enforcement of all IPR shall fulfill the goals of contribution to innovation promotion of technological development and transfer of technology
b.It is the universal intellectual property law
c.Every member of WTO should include TRIPS provisions in their domestic intellectual property legislations
d.RIPS requires WTO members to grant copyrights to content creators
7.Which of the following is true with regard to TRIMS?
a.TRIMS ensure that the domestic countries do not discriminate between the foreign investors and the national investors
b.It ensures that they do not force the investors to invest in the sectors that will fulfill the self -centered interest of the domestic economy
c.Both (a) and (b)
d.Neither (a)nor(b)
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8.In the context of the affairs of which of the following is the phrase special safeguard mechanism mentioned in the news frequently
a.United nations environment programmer
b.World trade organizations
c.ASEAN Indian free trade agreement
d.G20 summits
9.As regards the use of international food safety standards as reference point for the dispute settlements which one of the following does WTO collaborate with?
a.Codex aliment Arius commission
b.International federation of standards users
c.International organization for standardization
d.World standards cooperation
10.What are the two main functions of the WTO?
a.The promotion of free trade and economic liberalism
b.The administration of the WTO agreements and the resolution of international trade disputes
c.The promotion of world peace economic stability and financial cooperation
d.The administration of the WTOs institutional framework and the promotion of economic cooperation amongst its members
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11.Consider the following statements.
(i)India trade policy review is carried out every four years
(ii)WTO has a mechanism for regular review of the trade policies of member countries
Which of the statements given above is correct?
a.Only (i)
b.Only (ii)
c.Both (i) and (ii)
d.Neither (i) nor (ii)
12.Consider the following statements.
(i)India has ratified the trade facilitation agreement of WTO
(ii)TFA is a part of WTO Bali ministerial package of 2013
(iii)TFA came into force in January 2016
Which of the statements given above is correct?
a.(i) and (ii) only
b.(i) and (iii) only
c.(ii) and (iii)
d.(i) (ii) and (iii)
13.Match the following
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LIST I (ORGANISATION ) LIST II (OBJECTIVE)
A.WTO 1. Provide finance to correct disequilibrium in balance of payments
B.IMF 2. Generally forbids the use of quantitative restrictions in trade
C.SAARC 3. Sanction of soft loans
D.IDA 4. Promotes trade among South Asian countries
CODES
A B C D
a.1 2 3 4
b.2 3 4 1
c.2 1 4 3
d.3 2 4 1
14.When was IMF established?
a.27th December 1945
b.30th January 1947
c.Ist January 1946
d.24th September 1947
15.Which institution provides finance to meet short term balance of payment problems?
a.IMF
b.IBRD
c.GATT
d.WTO
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16.Which of the following currency has largest weightage in the determination of the value of the SDR?
a.Japanese Yen
b.Euro
c.US dollar
d.British pound
17.How many members did the international monetary fund have as January 2020?
a.164
b.182
c.174
d.189
18.Which of the following is known as the paper gold?
a.US dollar
b.Pound
c.Demand draft
d.Special drowning right
19.Gold tranche refers to
a.A loan system of the world bank
b.One of the operations of central bank
c.A credit system granted by WTO to its members
d.A credit system granted by IMF to its members
20.Which of the following statements is correct with regard to international monetary fund?
a.It can grant loans to country
b.It can grant loans to only developed countries
c.It grants loans to member countries only
d.It grants loans to the central bank of a country
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21.The provision under the membership clause of the IMF is that any country can become a member if
a.The country is willing to be a member of the world bank and willing to pay
b.The country is willing to be a member of the WTO and willing to pay all subscriptions in gold
c.The country is willing to be a member of the world bank and willing to pay subscriptions
d.The country is willing to be a member of UNO and willing to pay subscription
22.Which of the following are called Bretton woods twins?
a.IMF and international bank for reconstruction and development
b.IMF and world trade organizations
c.IBRD and world trade organizations
d.None of the above
23.International bank for reconstruction and development is also called as
a.Asian development bank
b.World bank
c.African bank
d.None of the above
24.World bank headquarter is located at
a.Mania
b.Washington DC
c.Newyork
d.Geneva
25.The international development association a lending agency is administered by the
a.International bank for reconstruction and development
b.International fund for agricultural development
c.United nations development programmed
d.United nations industrialized development organizations
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26.Which one of the following is not a sub – index of the world bank‘s ease of doing business index?
a.Maintenance of law and order
b.Paying taxes
c.Registering property
d.Dealing with construction permits
27.In which year international Centre for the settlements of investment disputes had been established?
a.1962
b.1964
c.1965
d.1966
28.Which of the following is not a Condition that should be followed by the World Bank while granting loan to member nations?
a.The bank should assess the credibility of the borrower this can be done by evaluating and assessing the natural resources and existing productive plan capacity to use the resources and operate the plant
b.The bank compels the members to use the funds only for a specific market
c.World bank must lend for specific projects only that are technically and economically sound and have ability to generate his returns
d.The bank must maintain continuing relationships with the borrower to check the progress of the project
29.Which of the following are objectives of World Bank?
a.To assist in the development and reconstruction of the areas of the members by facilitating the investment of capital for productive purposes
b.To endorse private foreign investments by means of guarantees or participation in loans and other investments made by the private investors
c.To promote the long range balanced growth of international trade and maintenance of equilibrium is the balance of payment of the member nations
d.All of the above
30.The global infrastructure facility is
a.ASEAN initiative to upgrade infrastructure in Asian and financed by credit from the Asian development bank
b.World bank collaboration that facilities the preparation and structuring of complex infrastructure public private partnership to enable unbilisation of private sector and institutional investors capital
c.Collaboration among the major with OECD and focused an expanding the set of infrastructure projects that have the potential to mobilize private investment
d.UNCTAD funded initiative that seeks to finance and facilitate infrastructure development in the world
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31.Assertion (A) IBRD was created to provide long term finance
Reason (R) IMF was created to solve short term balance of payment problem of the member countries
Codes
a.Both A and R are true and R is the correct explanation of A
b.Both A and R are true but R is not the correct explanation of A
c.A is true but R is false
d.A is false but R is true
32.Which of the following prepared the EU for enlargement?
a.Treaty of Amsterdam
b.Maastricht treaty
c.Single European act
d.Nice treaty
33.Broad based trade and investment agreement is sometime seen in the news in the context of negotiations held between India and
a.European union
b.Gulf cooperation council
c.Organizations for economic cooperation and development
d.Shanghai cooperation organizations
34.Consider the following statements about the European union
(i)The European union was known earlier as the European community
(ii)The single European act and the Maastricht treaty were milestones in its formation
(iii)Citizens of European union countries enjoy dual citizenship
(iv)Switzerland is a member of the European union
Which of the above statements are correct?
a.(ii) and (iv)
b.(i) and (iii)
c.(iii) and (iv)
d.(i) (ii) and (iii)
35.Which of the following is the main aim of the ADB?
a.To create trades block in the Asian continent to save the environment of the region
b.To accelerate to social and economic development of the Asia and pacific region
c.To establish a trade block in the Asian to deal with the completion coming from the European countries
d.None of the above
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36.The ASEAN was formed to promote
a.Social and cultural cooperation
b.Economic cooperation
c.Regional cooperation
d.All of the above
37.The regional comprehensive economic partnership is a proposed free trade agreement between the members of
a.SAARC
b.ASEAN
c.BRICS
d.European union
38.ASEAN was established in
a.1966
b.1967
c.1965
d.1960
39.ASEAN is an association of countries in South East Asian
a.12
b.11
c.10
d.14
40.Assertion (A) ASEAN is more than a region cooperation though it cannot claim to be a union like the EU
Reason (R) The ASEAN is slowly evolving on the same path as that of the EU
Codes
a.Both A and R are true and R is the correct explanation of A
b.Both A and R are true but R is not the correct explanation of A
c.A is true but R is false
d.A is false but R is true
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41.Which bank has been established in China by BRICS countries?
a.New industrial development bank
b.New agricultural development bank
c.New development bank
d.New commercial bank
42.The headquarters of new development bank is at
a.Beijing
b.Shanghai
c.New Delhi
d.Johannesburg
43.When the BRICS states did signed the agreement on the new development bank which makes provisions for the legal basis of the bank?
a.2013
b.2014
c.2015
d.2012
44.Which one of the following countries is not a founding member of the new development bank?
a.Brazil
b.Canada
c.Russia
d.India
45.Which of the following factor determines the voting share of NDB?
a.Contribution of the country to the bank authorized capital
b.Purchasing power parity
c.Size of country economy
d.Each country will have one vote without veto power
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46.Which of the following statements is correct about contingent reserve arrangement of NDB?
(i)Other countries beside BRICS can became member of contingent reserve arrangement of NDB
(ii)All BRICS countries will share equally to CRA
Codes
a.Only (i)
b.Only (ii)
c.Both (i) and (ii)
d.Neither (i) nor (ii)
47.Where is the headquarter of AIIB?
a.Hong Kong
b.Shanghai
c.Beijing
d.Sonya
48.Which of the following is not a member of AIIB?
a.Australia
b.Iran
c.Germany
d.Japan
49.Which of the following is not the member of the G20?
a.Indonesia
b.Singapore
c.Mexico
d.Turkey
50.When was AIIB established?
a.2017
b.2018
c.2015
d.2014
51.What is the full form of AIIB?
a.Asian infrastructure investment bank
b.Asian information investment bank
c.Asian industrial investment bank
d.Asian infrastructure industrial bank
52.Who is the largest shareholder of AIIB?
a.US
b.China
c.Russia
d.India
53.When was G20 established?
a.1995
b.1999
c.1985
d.2000
54.The members of the G20 consist of individual countries plus the European union
a.18
b.19
c.20
d.21
55.Which of the following statements is not correct regarding the G – 20?
a.Now the G 20 summits are attended by the finance ministers and central bank governors of the member countries
b.India never hosted any G 20 summit
c.Its main aim is to eliminate poverty from the world
d.Its meetings are held annually
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56.Which of the following are the members of G -7?
(i)Germany
(ii)Italy
(iii)Russia
(iv)Japan
(v)Spain
(vi)France
Codes
a.(i) (iii) (iv) (v)
b.(i) (ii) (iv) (vi)
c.(i) (iv) (v)
d.All of these
57.The world economic forum is a Swiss non – profit foundation based in
a.Switzerland
b.Russia
c.Holland
d.Canada
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58.When two or more countries enter into an agreement to eliminate import quota and tariffs and promote trade among themselves such a group of countries are said to form a?
a.Free trade area
b.Custom union
c.A common market
d.Both (a) and (b)
59.Which amongst the following pairs is not correctly matched?
INDEX ORGANIZATIONS
a.Gender development index UNDP
b.Ease of doing business World bank
c.Inclusion index World economic forum
d.World hunger index United nations
60.India is a member of which among the following?
(i)Asia – pacific economic cooperation
(ii)Association of South East Asian nation
(iii)East Asian summit
Select the correct answer using the codes given below
CODES
a.(i) and (ii) only
b.Only (iii)
c.(i) (ii) and (iii)
d.India is a member of none of them
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61.Assertion (A) Regional trade blocks hinder free international trade
Reason (R) they discriminate against non – member countries
a.Both A and R are true and R is the correct explanation of A
b.Both A and R are true but R is not the correct explanation of A
c.A is true but R is false
d.A is false but R is true
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ANSWERS
| 1.b. | 2.d. | 3.a. | 4.d. | 5.d. |
| 6.b. | 7.c. | 8.b. | 9.a. | 10.d. |
| 11.c. | 12.a. | 13.c. | 14.a. | 15.a. |
| 16.c. | 17. d. | 18. d. | 19. d. | 20. c. |
| 21.c. | 22.a. | 23.b. | 24.b. | 25.a. |
| 26. a. | 27. d. | 28. c. | 29. d. | 30. b. |
| 31. b. | 32.b. | 33. a. | 34. d. | 35. b. |
| 36. b. | 37. b. | 38. c. | 39. b. | 40.b. |
| 41. c. | 42. b. | 43. b. | 44. b. | 45. d. |
| 46. a. | 47. c. | 48. d. | 49. b. | 50. c. |
| 51. a. | 52.b. | 53.b. | 54. b. | 55. c. |
| 56. b. | 57. a. | 58. a. | 59. d. | 60. b. |
| 61. c. |
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ALSO VISIT: INDIAN ECONOMY
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