HomeDaily QuizUPSC Daily Quiz | 3 September 2024 UPSC Daily Quiz | 3 September 2024Daily Quiz, September | By admin | September 3, 2024 /5 Daily Quiz - 3 September Tarun IAS offers a variety of courses and resources for UPSC aspirants, including a section for daily current affairs and quizzes. The institute was established with the goal of providing high-quality education and preparing students for the IAS exams. They aim to offer education that is up to date, challenging, and accessible regardless of the student's location or the time of dayTarun IAS emphasizes the importance of Current Affairs in both the prelims and mains of the UPSC exams, offering extensive materials and notes on the subject. Her For the most current and specific daily MCQs related to current affairs or any other subject, please click on the link below. 1 / 5 Q1. Consider the following statements regarding the impact of a Fed rate cut on gold prices in the near term: A Fed rate cut generally leads to a stronger US dollar, which can decrease the demand for gold. A Fed rate cut tends to lower bond yields, making gold a more appealing safe-haven asset for investors. A Fed rate cut often leads to higher inflation expectations, which can diminish the value of gold as an inflation hedge.How many of the above statements are correct? Only one Only two All three None Explanation:Relevance: International gold prices start rising after the expected cut in the interest rates by the US Federal Reserve.A Fed rate cut generally weakens the US dollar rather than strengthening it. A weaker dollar increases the demand for gold, as gold is priced in dollars and becomes cheaper for foreign investors. (Hence, statement 1 is not correct)Lower interest rates make non-yielding assets like gold more attractive. When interest rates fall, the opportunity cost of holding gold (which does not yield interest) decreases, leading to an increase in its demand and price.A Fed rate cut usually lowers bond yields, which reduces the returns from bonds. Investors may shift their focus to gold as a safer alternative, boosting its prices. (Hence, statement 2 is correct)While a Fed rate cut can sometimes lead to higher inflation expectations, gold is often viewed as a hedge against inflation rather than diminishing in value due to it. Therefore, higher inflation expectations can actually support gold prices rather than weaken them. (Hence, statement 3 is not correct)So, only one of the statements given above is correct.Therefore, option (a) is the correct answer.Subject: Current Affairs | EconomyLevel of Difficulty: Moderate | FactualSources:https://www.livemint.com/market/commodities/fed-rate-cut-how-will-it-impact-gold-prices-in-near-term-experts-weigh-in-11725183294315.html 2 / 5 Q2. Consider the following statements about the zombie fungus, Ophiocordyceps unilateralis:1) It primarily infects mammals.2) It controls the host's mind and motor functions before consuming its body.3) It drains the host of nutrients and fills its body with spores.4) It is predominantly found in temperate regions.How many of the above statements are correct? Only one Only two Only three All Four Explanation:Relevance: Recently, wildlife researcher Chris Ketola shared a video which shows a tarantula infected by zombie fungus.Zombie fungusThe zombie fungus, or Ophiocordyceps unilateralis, completely depletes its host of nutrients and fills its body with spores for reproduction. (Hence, statement 3 is correct)It manipulates the host's mind and motor functions before consuming its body. (Hence, statement 2 is correct)Ophiocordyceps belongs to the Cordyceps genus, primarily targeting invertebrates, especially insects like ants and spiders. (Hence, statement 1 is not correct)The fungus is predominantly found in tropical regions and commonly infects carpenter ants. (Hence, statement 4 is not correct)So, only two of the statements given above are correct.Therefore, option (b) is the correct answer.Subject: Current Affairs | S&TLevel of Difficulty: Moderate | FactualSources: The Hindu 3 / 5 Q3. Consider the following statements about the Navratna status conferred upon the Solar Energy Corporation of India Ltd (SECI):1) Solar Energy Corporation of India Ltd (SECI) is the first PSU to be granted Navratna status.2) Navratna companies can invest up to 15% of their net worth on a single project.3) To qualify for Navratna status, a PSU must have a net profit of more than Rs 5,000 crore for three consecutive years.4) Navratna companies do not require government approval for investments up to Rs 5,000 crore.Which of the statements given above are correct? 1 and 4 only 1, 3 and 4 only 2 and 3 only 1, 2, 3 and 4 Explanation:Relevance: Solar Energy Corporation of India Ltd (SECI), a Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy, has been elevated to Navratna status by the Ministry of Finance.Navratna StatusThe government categorizes Public Sector Undertakings (PSUs) into three tiers: Maharatna, Navratna, and Miniratna. Criteria for Navratna Status:A PSU must be a Miniratna-I, Schedule 'A' company.It should have achieved an 'excellent' or 'very good' MoU rating in at least three of the past five years.The PSU must maintain a composite score of 60 in six performance indicators.It must report a net profit exceeding Rs 5,000 crore for three consecutive years. (Hence, statement 3 is correct)The PSU should have an average annual turnover of Rs 25,000 crore or an average annual net worth of over Rs 15,000 crore for three years.Advantages of Navratna Status:Financial Autonomy: Navratna companies can invest up to Rs 1,000 crore without seeking central government approval. (Hence, statement 4 is not correct)Investment Flexibility: They can invest up to 15% of their net worth in a single project or 30% in a year, subject to a Rs 1,000 crore cap. (Hence, statement 2 is correct)Capital Expenditure: Navratna companies can incur capital expenditure for new purchases or replacements without any monetary limit.Strategic Alliances: They can enter into technology joint ventures or strategic alliances.Therefore, option (b) is the correct answer.Subject: Current Affairs | EconomyLevel of Difficulty: Moderate | FactualSources: The Hindu 4 / 5 Q4. Which of the following correctly describes the objective of launching the 'Samudra Pratap'? To enhance India's naval capabilities in the Indian Ocean region. To strengthen India's maritime security and surveillance operations. To protect the country's coastal environment from oil spills. To transport troops and supplies during military operations. Explanation:Relevance: Samudra Pratap, Indian Coast Guard (ICG)’s first indigenously developed Pollution Control Vessel launched in Goa.Goa Shipyard Limited (GSL) successfully launched the 'Samudra Pratap,' India's first indigenously built Pollution Control Vessel, on August 29, 2024. The vessel, constructed for the Indian Coast Guard (ICG), will play a crucial role in preventing and mitigating oil spills along India's coastline.Therefore, option (c) is the correct answer.Subject: Current Affairs | DefenceLevel of Difficulty: Easy | FactualSources: The Hindu 5 / 5 Q5. Consider the following statements about the Uri-I Hydroelectric Project:1) It is located on the Chenab River.2) It is located very near the Line of Control (LOC) with Pakistan.Which of the statements given above is/are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation:Relevance: The Expert Appraisal Committee (EAC) of the Union Ministry of Environment, Forest, and Climate Change has postponed its decision on granting Environmental Clearance (EC) to the second phase of the Uri-I Hydroelectric Project.Uri-I Hydroelectric Project:It is located on the Jhelum River near Uri town, Baramulla district, Jammu & Kashmir. (Hence, statement 1 is not correct)It is situated close to the Line of Control (LOC) with Pakistan. (Hence, statement 2 is correct)It was commissioned in 1997 with a total installed capacity of 480 MW.Therefore, option (b) is the correct answer.Subject: Current Affairs | GeographyLevel of Difficulty: Easy | FactualSources: The Hindu Your score is 0% Restart quiz
