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[Solution] – The 10 PM Daily Quiz – 24 May, 2016

solution

We posted 7 questions in 10 PM Daily Quiz on 24th May, 2016. Thanks for the amazing response. These questions will help you polish concepts based on current affairs. In case you have not attempted them, please attempt them by clicking below.


Q.1) Consider the following statements regarding Participatory Notes

  1. These are instruments issued by registered foreign institutional investors (FII) to overseas investors, who wish to invest in the Indian stock markets without registering themselves with the SEBI.
  2. They are used within the country.  

Select the correct answer using the codes given below:
a) 1 only
b) 2 only
c) Both are correct
d) Neither is true

Answer-a

Explanation:- Participatory Notes

  • Participatory Notes commonly known as P-Notes or PNs are instruments issued by registered foreign institutional investors (FII) to overseas investors, who wish to invest in the Indian stock markets without registering themselves with the market regulator, the Securities and Exchange Board of India.
  • Participatory notes are instruments used for making investments in the stock markets.
  • However, they are not used within the country. They are used outside India for making investments in shares listed in the Indian stock market. That is why they are also called offshore derivative instruments.
  • In the Indian context, foreign institutional investors (FIIs) and their sub-accounts mostly use these instruments for facilitating the participation of their overseas clients, who are not interested in participating directly in the Indian stock market.
  • For example, Indian-based brokerages buy India-based securities and then issue participatory notes to foreign investors. Any dividends or capital gains collected from the underlying securities go back to the investors.
  • Indian regulators are not very happy about participatory notes because they have no way to know who owns the underlying securities.
  • Regulators fear that hedge funds acting through participatory notes will cause economic volatility in India’s exchanges.

Q.2) Money mules refers to
a) Fraudsters
b) Revenue Officers
c) Management Graduates
d) Politicians

Answer-a

Explanation:-

What are money mules?

  • Money mules are people who serve as intermediaries for criminals and criminal organisations.
  • Whether or not they are aware of it, they transport fraudulently gained money to fraudsters.
  • The use of intermediaries makes it difficult to figure out the identity of the fraudster.
  • Money mules, just like fraudsters, are guilty of illegally transporting fraudulently gained money and can be prosecuted for this.

Q.3) Consider the following statements regarding Bharat Stage norms

  1.  Indian government has announced that it would skip the Euro IV norms altogether and adopt Euro V norms by 2020.
  2.  These norms are brought into force in accordance with the timeline and standards set up by the Central Pollution Control Board.

Select the correct answer using the codes given below:
a) 1 only
b) 2 only
c) Both are correct
d) Neither is true

Answer-b

Explanation:-

Enforcement

  • Since October 2010, Bharat Stage (BS) III norms have been enforced across the country.
  • In 13 major cities, Bharat Stage IV emission norms have been in place since April 2010.
  • In 2016, the Indian government announced that the country would skip the Euro V norms altogether and adopt Euro VI norms by 2020.
  • The Ministry of Petroleum and Natural Gas has set a deadline of 2017 by which time all the vehicles in the country must be BS-IV-compliant and 2020 for the rollout of BS-VI fuel.

Q.4) Consider the following statements regarding  International Dunhuang Project (IDP)

  1. The project was established by the US library.
  2. The National Museum in New Delhi is a founding member of the IDP.

Select the correct answer using the codes given below:
a) 1 only
b) 2 only
c) Both are correct
d) Neither is true

Answer-b

Explanation:-

International Dunhuang Project (IDP)

  • The International Dunhuang Project (IDP) is an international collaborative effort to conserve, catalogue and digitise manuscripts, printed texts, paintings, textiles and artefacts from Dunhuang and various other archaeological sites at the eastern end of the Silk Road.
  • The project was established by the British Library in 1994.
  • The Dunhuang Academy is a major fulcrum of the International Dunhuang Project (IDP).
  • It aims to unite information on “all these artefacts through the highest quality digital photography by coordinating international teams of conservators, cataloguers and researchers”.
  • The National Museum in New Delhi is a founding member of the IDP.

Q.5) According to notification of the Government, cigarette packets should have how much of its area covered with  pictorial warning?
a) 70%
b) 75%
c) 80%
d) 85%

Answer-d

Explanation:-

The Centre has set May 31 deadline for the States and Union Territories to withdraw from the market tobacco products whose 85 per cent packaging space is not covered with pictorial warning.


Q.6) Nastaliq script was developed in
a) India
b) Afghanistan
c) Iran
d) Iraq

Answer-c

Explanation:Nastaliq

  • Nastaʿlīq is one of the main calligraphic hands used in writing the Persian script, and traditionally the predominant style in Persian calligraphy.
  • It was developed in Iran in the 14th and 15th centuries.
  • It is sometimes used to write Arabic-language text , but its use has always been more popular in the Persian, Turkic and Urdu sphere of influence.
  • Nastaʿlīq has extensively been (and still is) practiced in Iran, Pakistan, India, Afghanistan and other countries for written poetry and as a form of art.

Q.7) Which of the following does not deal regarding trade in arms technology and materials?
a) Australia Group
b) Nuclear Suppliers Group
c)  Wassenaar Agreement
d)  Missile Technology Control Regime

Answer-c

Explanation:-

The Wassenaar Arrangement (not to be confused with the Wassenaar Agreement), (full name: The Wassenaar Arrangement on Export Controls for Conventional Arms and Dual-Use Goods and Technologies) is a multilateral export control regime (MECR) with 41 participating states including many former COMECON (Warsaw Pact) countries.
The Wassenaar Agreement was an agreement reached in 1982 between employers’ organisations and labour unions in the Netherlands to restrain wage growth in return for the adoption of policies to combat unemployment and inflation, such as reductions in working hours and the expansion of part-time employment.

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