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
The World Bank serves as the trustee for which major environmental fund?
Answer:
Global Environment Facility (GEF)
The World Bank serves as the trustee for the Global Environment Facility (GEF), a partnership to tackle our planet's most pressing environmental problems.
2
What is the term for loans provided by the IDA which have little or no interest and long repayment periods?
Answer:
Soft loans (credits)
IDA provides 'soft loans' (often called credits) which have zero or very low interest charges and repayments stretched over 30 to 40 years.
3
Which specialized agency of the UN is the World Bank Group classified as?
Answer:
A Specialized Agency
The World Bank is a specialized agency of the United Nations, though it operates independently with its own governance structure.
4
Which new project replaced the World Bank's discontinued 'Doing Business' report?
Answer:
Business Ready (B-READY)
The World Bank introduced 'Business Ready' (B-READY) to replace the discontinued 'Doing Business' report to assess the business and investment climate.
5
What is the highest decision-making body of the World Bank?
Answer:
Board of Governors
The Board of Governors, consisting of one governor from each member country (usually the Finance Minister), is the highest decision-making body.
6
How many member countries does the IBRD currently have (approximately)?
Answer:
189
The IBRD has 189 member countries, covering almost the entire globe.
7
Which World Bank term refers to the point when a country's income rises enough that it is no longer eligible for IDA lending?
Answer:
Graduation
When a country's GNI per capita exceeds the operational cutoff, it undergoes 'graduation' and ceases to be eligible for concessional IDA loans.
8
What is the updated international poverty line used by the World Bank (as of 2022)?
Answer:
$2.15 per day
In late 2022, the World Bank updated the global extreme poverty line to $2.15 per person per day (based on 2017 purchasing power parity).
9
How is voting power distributed among World Bank member countries?
Answer:
Based on shareholding (financial contribution)
Voting power in the World Bank is weighted according to the number of shares a country holds, which roughly reflects its economic size and contribution.
10
Which country received the first-ever loan from the World Bank in 1947?
Answer:
France
The World Bank's first loan was granted to France in 1947 for postwar reconstruction, amounting to $250 million.