The World Intellectual Property Organization (WIPO) was established in 1967 and became a specialized agency of the United Nations in 1974. Its headquarters are located in Geneva, Switzerland. WIPO serves as the global forum for intellectual property services, policy, information, and cooperation, facilitating the protection of creative and innovative works worldwide.

UNCTAD was established in 1964 as a permanent intergovernmental body. It serves as the principal organ of the United Nations General Assembly dealing with trade, investment, and development issues, aiming to help developing countries integrate into the global economy on an equitable basis.

The World Bank is an international financial institution owned by its member countries. While the United States is the largest shareholder and holds significant influence due to its voting power, it does not own the bank exclusively. The governance structure is designed to represent the interests of all member nations, who contribute capital and participate in decision-making processes regarding the bank's policies, lending operations, and global development initiatives.

The World Bank operates as a financial intermediary. It funds its lending activities through a combination of its own paid-in capital (equity), borrowings from international capital markets by issuing bonds, and by providing guarantees to facilitate private investment. This diversified funding model allows the institution to provide long-term development financing to member nations at competitive rates.

The Central Board of Direct Taxes (CBDT) is a national-level statutory body under the Department of Revenue in India, responsible for administering direct tax laws. In contrast, SAARC, ASEM, and ASEAN are international organizations involving multiple sovereign nations collaborating on regional or global issues.

The International Finance Corporation (IFC) was actually established in 1956, not 1948. The other dates are correct: IBRD (1945), IDA (1960), and MIGA (1988). This question tests knowledge of the historical timeline of the World Bank Group institutions.

The TRIMs agreement under the WTO prohibits investment measures that violate GATT principles, such as national treatment and the prohibition of quantitative restrictions. Statement I correctly identifies the scope of the agreement, and Statement II accurately describes the core objective of preventing discriminatory practices that favor domestic goods over imported ones.

Brunei Darussalam, Cambodia, Vietnam, and Myanmar are all full members of ASEAN. Sri Lanka is not a member of ASEAN, as the organization is specifically focused on Southeast Asian nations, whereas Sri Lanka is located in South Asia.

The WTO has a broad scope including services and intellectual property (2). It also monitors various international trade and currency-related frameworks (5). While the WTO promotes trade, it is not a currency regulator, making statements 3 and 4 less accurate in this specific context. The provided answer is B.

The World Bank is the primary international organization dedicated to providing long-term loans and financial assistance to developing countries for infrastructure, education, and poverty reduction projects. While the IMF focuses on short-term balance of payment stability and the ADB focuses on regional development in Asia, the World Bank's core mandate is global long-term economic development.