7 March 2018 | Prelims Daily with Previous Year Questions

Note: Please comment your responses to questions in the comment section. It will help you in assessing yourself.


Q.1) With reference to the India Meteorological Department(IMD), consider the following statements:
1. Ministry of Science and Technology is its parent department.
2. The System of Aerosol Monitoring and Research (SAMAR) was launched by the IMD.
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
Inspired by: [op-ed snap] High noon: dealing with above-normal temperatures

Q.2) Consider the following statements regarding some of the RBI’s monetary tools:
1. RBI do not extends Liquidity Adjustment Facility to RRBs.
2. The Marginal Standing Facility is always fixed at a higher rate than the Repo rate.
Which of the statements given above is/are correct?
a) Both 1 and 2
b) Neither 1 nor 2
c) 1 only
d) 2 only
Inspired by: [op-ed snap] RBI to inject extra liquidity of Rs. 1 lakh cr.

Q.3) Consider the following related to the Fiscal Responsibility and Budget ManagementAct (FRBMA):
1. Medium-term Fiscal Policy Statement
2. Fiscal Policy Strategy Statement
3. Macro-economic Framework Statement
Which of the above are presented with Budget as mandated by FRBM Act?
a) 1 and 2 only
b) 1, 2 and 3
c) 2 and 3 only
d) 1 and 3 only

Q.4) Consider the following:
1. Iran
2. Iraq
3. Venezuela
Which of the above is/are founding members of OPEC?
a) 2 and 3 only
b) 1, 2 and 3
c) 1 and 3 only
d) 1 and 2 only

Q.5) With reference to the ‘National Virtual Library of India (NVLI)’, recently seen in news, consider the following statements:
1. The NVLI is programme under the Ministry of Culture.
2. The NVLI online platform will also cover theater related works.
Which of the statements given above is/are correct?
a) Neither 1 nor 2
b) Both 1 and 2
c) 1 only
d) 2 only
Inspired by: National Virtual Library of India: C-DAC spearheads massive virtual library project

Q.6) Which of the following statements is/ are correct regarding Brahmo Samaj?
1. It opposed idolatry.
2. It denied the need for a priestly class for interpreting the religious texts.
3. It popularized the doctrine that the Vedas are infallible.
Select the correct answer using the codes given below:
a) 1 only
b) 1 and 2 only
c) 3 only
d) 1, 2 and 3

Q.7) The Reserve Bank of India (RBI) acts as a bankers’ bank. This would imply which of the following?
1 Other bank retains their deposits with the RBI.
2 The RBI lends funds to the commercial banks in times of need)
3 The RBI advises the commercial banks on monetary matters.
Correct statement(s) is/are?
a) 2 and 3 only
b) 1 and 2 only
c) 1 and 3 only
d) 1, 2 and 3

Q.8) Under which of the following circumstances may “capital gains” arise?
1. when there is an increase in the sales of a product
2 .when there is a natural increase in the value of the property owned)
3. when you purchase a painting and there is a growth in its value due to increase in its popularity.
Select the correct answer using the codes given below:
a) 1 only
b) 2 and 3 only
c) 2 only
d) 1, 2 and 3


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