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.
142
What is the year of establishment for the United Nations Conference on Trade and Development (UNCTAD)?
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.
144
From which sources does the World Bank provide loans to its member countries?
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.
145
Which of the following entities is not classified as an international organization?
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.
146
Which of the following international financial institutions is incorrectly matched with its establishment year?
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.
147
Evaluate the following statements regarding the Trade-Related Investment Measures (TRIMs) agreement: Statement I: TRIMs refers to conditions or restrictions imposed on foreign investors. Statement II: TRIMs specifically forbids imposing restrictions on enterprise operations that protect domestic products and disadvantage imports.
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.
148
Which of the following countries are full members of the Association of Southeast Asian Nations (ASEAN)?
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.
149
Which of the following statements accurately describe the role and scope of the World Trade Organization (WTO)?
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.
150
Which international financial institution is primarily responsible for providing long-term financial assistance for development purposes?
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.
