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
19061
The BIS primarily promotes international cooperation through its support of which key standard-setting committee?
Answer:
The Basel Committee on Banking Supervision (BCBS)
The BCBS, which sets global standards for bank capital adequacy (Basel Accords), is permanently housed at the BIS headquarters.
19062
What was the initial primary mandate for the BIS when it was founded in 1930?
Answer:
To manage and transfer Germany’s World War I reparations payments (under the Young Plan).
While that original role soon became obsolete, the BIS quickly found a new role as a meeting place and cooperation forum for central bankers.
19063
Who owns the Bank for International Settlements (BIS)?
Answer:
Its member central banks.
The BIS is owned and governed by its member central banks (currently over 60) and acts as the 'bank for central banks'.
19064
Where is the permanent headquarters of the Bank for International Settlements (BIS) located?
Answer:
Basel, Switzerland
The BIS headquarters is located in Basel, Switzerland. It also has representative offices in Hong Kong SAR and Mexico City.
19065
In what year was the Bank for International Settlements (BIS) established?
Answer:
1930
The BIS was established in 1930 under the Hague Agreements, making it the world's oldest international financial organization.
19066
What does the acronym BIS stand for?
Answer:
Bank for International Settlements
The BIS is an international financial institution owned by central banks that fosters international monetary and financial cooperation.
19067
The OECD's shift to measuring **well-being** rather than just GDP is part of which broader initiative?
Answer:
The Better Life Initiative.
The Better Life Initiative seeks to broaden the focus of national policy-making beyond purely economic indicators.
19068
What is the primary function of the **OECD's Public Governance** work area?
Answer:
Advising governments on improving the efficiency, effectiveness, and transparency of public administration and budgeting.
This area focuses on strengthening trust in government and improving the quality of public services.
19069
The OECD’s **Ministerial Council Meeting (MCM)** is the annual high-level gathering where members:
Answer:
Review the current global economic situation and set the strategic direction for the organization.
The MCM is the annual event where ministers establish the high-level priorities and work plan.
19070
The OECD works to promote **good regulatory practice** among its members by advocating for:
Answer:
Regulations that are efficient, evidence-based, coherent, and transparent.
Good regulatory practice is crucial for fostering innovation, competitiveness, and effective governance.