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
6211
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.
6212
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.
6213
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.
6214
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.
6215
How many member countries does the IBRD currently have (approximately)?
Answer:
189
The IBRD has 189 member countries, covering almost the entire globe.
6216
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.
6217
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).
6218
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.
6219
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.
6220
What are the 'Twin Goals' of the World Bank Group introduced in 2013?
Answer:
Ending extreme poverty and boosting shared prosperity
The Twin Goals are to end extreme poverty (reducing the share of people living on less than $2.15 a day) and to promote shared prosperity (increasing income of the bottom 40%).