General Knowledge MCQs
Topic Notes: General Knowledge
MCQs and preparation resources for competitive exams, covering important concepts, past papers, and detailed explanations.
Plato
- Biography: Ancient Greek philosopher (427–347 BCE), student of Socrates and teacher of Aristotle, founder of the Academy in Athens.
- Important Ideas:
- Theory of Forms
- Philosopher-King
- Ideal State
1
What is the primary purpose of the African Export-Import Bank (Afreximbank)?
Answer:
To finance and promote intra- and extra-African trade
Afreximbank is a pan-African multilateral trade finance institution created in 1993 under the auspices of the African Development Bank. Its mission is to finance and promote intra- and extra-African trade.
2
The Nordic Investment Bank (NIB) is owned by countries in which regions?
Answer:
Nordic and Baltic countries
The Nordic Investment Bank (NIB) is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden.
3
Which institution creates the 'Doing Business' report (discontinued in 2021 but historically significant)?
Answer:
World Bank
The World Bank published the 'Doing Business' report, which ranked countries on the ease of doing business. It was discontinued in 2021 due to data irregularities, but remains a famous benchmark in the history of international financial metrics.
4
The Inter-American Development Bank (IDB) primarily serves:
Answer:
Latin America and the Caribbean
The IDB is the largest source of development financing for Latin America and the Caribbean, providing loans, grants, and technical assistance.
5
Which of the following institutions uses 'gold' as part of its reserves but does not issue currency?
Answer:
IMF
The IMF holds a significant amount of gold reserves (historically paid in by members as part of their quota). While it issues SDRs, it does not issue a circulating currency like a central bank, but gold remains a key asset on its balance sheet.
6
The Financial Stability Board (FSB) was established to:
Answer:
Coordinate at the international level the work of national financial authorities and international standard-setting bodies
The FSB promotes international financial stability by coordinating national financial authorities and international standard-setting bodies as they work toward developing strong regulatory, supervisory, and other financial sector policies.
7
Which country is the largest shareholder in the European Bank for Reconstruction and Development (EBRD)?
Answer:
United States
Surprisingly to some, the United States is the largest single shareholder of the EBRD, although the majority of shares are held by European countries and the EU institutions combined.
8
What is the 'Green Climate Fund' (GCF)?
Answer:
A fund within the UN framework to assist developing countries in adaptation and mitigation practices to counter climate change
The Green Climate Fund (GCF) is a fund established within the framework of the UNFCCC to assist developing countries in adaptation and mitigation practices to counter climate change. It is a critical element of the Paris Agreement.
9
Which of the following is a primary function of the Bank for International Settlements (BIS)?
Answer:
Providing banking services to central banks
The BIS acts as a bank for central banks. It offers liquidity to central banks, provides a forum for international cooperation on monetary and financial stability, and hosts the Basel Committee.
10
The Black Sea Trade and Development Bank is an example of a:
Answer:
Sub-regional multilateral development bank
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine to support economic development and regional cooperation in the Black Sea region.