Question 1

The International Monetary Fund (IMF) was established in which year?

Accepted Answer

The International Monetary Fund (IMF) was established in 1944 at the Bretton Woods Conference, alongside the World Bank. It was created to promote international monetary cooperation and exchange rate stability.

Question 2

How many permanent members does the United Nations Security Council have?

Accepted Answer

The UN Security Council has 5 permanent members with veto power: United States, United Kingdom, France, Russia (formerly Soviet Union), and China (People's Republic of China since 1971). It also has 10 non-permanent members elected for two-year terms.

Question 3

Which organisation is responsible for regulating international trade and resolving trade disputes among member nations?

Accepted Answer

The World Trade Organization (WTO), established in 1995, is the primary international organisation responsible for regulating international trade, setting trade rules, and resolving disputes between member countries.

Question 4

The Asian Development Bank (ADB) is headquartered in which city?

Accepted Answer

The Asian Development Bank (ADB) was established in 1966 and is headquartered in Manila, Philippines. The ADB is a multilateral development bank with 68 member countries (as of 2024) and focuses on promoting economic development and cooperation in Asia and the Pacific region. India is a founding member of the ADB.

Question 5

Which international organization was established in 1945 and is headquartered in New York?

Accepted Answer

The United Nations (UN) was established on 24 October 1945 following World War II. Its headquarters is located in New York City, USA. The UN is a global organization with 193 member states (as of 2024) and serves as a forum for international cooperation and peace.

Question 6

The World Bank primarily focuses on which of the following areas?

Accepted Answer

The World Bank, established in 1944, primarily focuses on reducing poverty and promoting sustainable development in developing countries through financial assistance, policy advice, and technical support.

Question 7

Which of the following is the primary objective of the International Monetary Fund (IMF)?

Accepted Answer

The International Monetary Fund (IMF) was established in 1944 and has the primary objective of promoting international monetary cooperation, exchange rate stability, and providing financial assistance to member countries facing balance of payments difficulties. The IMF is headquartered in Washington D.C. and has 190 member countries (as of 2024).

Question 8

India is a member of which of the following organisations that was established to promote economic cooperation among Asian countries?

Accepted Answer

The Asian Development Bank (ADB) was established in 1966 to promote economic and social development in Asia and the Pacific. India has been a founding member and active participant since its inception.

Question 9

India is a member of which of the following organisations that aims to promote economic cooperation among BRICS nations?

Accepted Answer

BRICS is an acronym for Brazil, Russia, India, China, and South Africa. It was formally established in 2009 as an economic and political alliance to promote cooperation among these five major emerging economies.

Question 10

Which international organisation was established in 1945 with the primary objective of maintaining international peace and security?

Accepted Answer

The United Nations (UN) was established on 24 October 1945 following World War II. Its primary purpose is to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and promote human rights.

Question 11

The World Trade Organization (WTO) was established in which year?

Accepted Answer

The World Trade Organization (WTO) was established on 1 January 1995, replacing the General Agreement on Tariffs and Trade (GATT) which had been in operation since 1947. The WTO is responsible for regulating international trade and resolving trade disputes among member nations.

Question 12

The World Trade Organization (WTO) replaced which organization in 1995?

Accepted Answer

The World Trade Organization (WTO) was established on 1 January 1995 and replaced the General Agreement on Tariffs and Trade (GATT), which had been in operation since 1948. The WTO is headquartered in Geneva, Switzerland, and India is a founding member.

Question 13

Which international organisation was established in 1945 with the primary objective of maintaining international peace and security?

Accepted Answer

The United Nations (UN) was established on 24 October 1945 after World War II. Its primary purpose is to maintain international peace and security, develop friendly relations among nations, and promote economic and social progress.

Question 14

The World Trade Organization (WTO) replaced which organization in 1995, and how many founding members did the WTO have at its establishment?

Accepted Answer

The WTO was established on 1 January 1995 and replaced the General Agreement on Tariffs and Trade (GATT), which had been in operation since 1947. The WTO had 125 founding members at its establishment. The WTO is a permanent international organization with a more comprehensive mandate than GATT, covering goods, services, and intellectual property.

Question 15

How many member states does the United Nations currently have as of 2024?

Accepted Answer

The United Nations has 193 member states as of 2024. South Sudan became the 193rd member in 2011, and no new members have been added since then.

Question 16

The World Trade Organization (WTO) replaced which international organization as the primary forum for multilateral trade negotiations?

Accepted Answer

The WTO was established on January 1, 1995, and replaced the General Agreement on Tariffs and Trade (GATT), which had been in operation since 1947. The GATT was an agreement rather than a formal organization, whereas the WTO is an institutional body with a permanent secretariat and dispute settlement mechanism.

Question 17

The BRICS organization expanded its membership in 2023 to include which of the following countries?

Accepted Answer

In August 2023, BRICS expanded to include five new member countries: Argentina, Egypt, Ethiopia, Iran, and Saudi Arabia, bringing the total to 11 members.

Question 18

Which of the following is the primary objective of the World Trade Organization (WTO)?

Accepted Answer

The WTO was established in 1995 to regulate and facilitate international trade. Its core function is to ensure that trade flows as smoothly, predictably, and freely as possible between nations through the administration of trade agreements and dispute resolution.

Question 19

Which of the following is the primary objective of the World Trade Organization (WTO)?

Accepted Answer

The WTO was established in 1995 to facilitate trade negotiations, handle trade disputes, and ensure that trade flows as smoothly, predictably, and freely as possible between nations.

Question 20

The World Bank Group consists of five institutions. Which of the following is NOT one of the five institutions of the World Bank Group?

Accepted Answer

The World Bank Group comprises five institutions: (1) International Bank for Reconstruction and Development (IBRD), (2) International Development Association (IDA), (3) International Finance Corporation (IFC), (4) Multilateral Investment Guarantee Agency (MIGA), and (5) International Centre for Settlement of Investment Disputes (ICSID). The IMF is a separate organization, not part of the World Bank Group.

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