August 2026 Current Affairs MCQs & Solutions

Explanation: The assets managed by the Indian portfolio management services industry reached 42.61 trillion rupees by May 31, 2026. The figure of 18.07 trillion rupees represents the industry's asset size in April 2019. [Source: https://www.brecorder.com/news/40431463/indias-sebi-proposes-allowing-portfolio-managers-to-invest-overseas-in-to-be-listed-securities, 23 Jul 2026]

Explanation: There is no evidence that the delegation announced a suspension of cargo flights; the meeting focused on cooperation and capacity building. The other three statements are factually accurate regarding the event. [Source: https://www.brecorder.com/news/40431349/paa-iata-discuss-future-aviation-roadmap, 23 Jul 2026]

Explanation: Senator Nasir Mehmood chaired the Senate Standing Committee on Housing and Works during the session held on 2026-07-23. The committee focused on the administrative delays affecting the financial entitlements of former Pak PWD staff. [Source: https://www.brecorder.com/news/40431367/salaries-payment-dues-of-ex-pak-pwd-employees-senate-body-concerned-over-delays, 23 Jul 2026]

Explanation: Statement 1 is correct as Azhar Azahari attended as Regional Manager for South Asia. Statement 2 is correct as the flight was traveling from Sharjah to Karachi. Statement 3 is incorrect because the crash site is reported to be 3,000 meters deep, not 1,000 meters. [Source: https://www.brecorder.com/news/40431349/paa-iata-discuss-future-aviation-roadmap, 23 Jul 2026]

Explanation: Warren Davidson of Ohio was one of the four Republicans who crossed party lines to support the resolution. Susan Collins is a Senator, and Mike Johnson is the Speaker of the House who did not vote in favor. [Source: https://www.dawn.com/news/2017858/us-house-votes-to-curb-trumps-iran-war-powers-but-senate-backs-president, 23 Jul 2026]

Explanation: Statement 1 is accurate as federal internal security challenges remain high following the Hangu attack; statement 2 reflects the Punjab Revenue Authority's focus on digital taxation through EIMS; and statement 3 correctly identifies the ongoing parliamentary critique surrounding the 27th Constitutional Amendment. All these events reflect contemporary governance challenges in Pakistan. [Source: https://www.dawn.com/news/2019442/9-cops-martyred-28-injured-as-police-checkpost-comes-under-attack-in-kps-hangu]

Explanation: Statement C is incorrect because the report explicitly states that many employees are still awaiting payment of salaries and arrears, despite their adjustment. The other statements accurately reflect the proceedings of the committee meeting. [Source: https://www.brecorder.com/news/40431367/salaries-payment-dues-of-ex-pak-pwd-employees-senate-body-concerned-over-delays, 23 Jul 2026]

Explanation: The market downturn was driven by the dual impact of surging energy costs and investor skepticism regarding tech sector earnings, specifically from Alphabet and Tesla. Interest rate hikes were not mentioned as a factor in this specific market event. [Source: https://www.brecorder.com/news/40431469/us-stocks-tumble-as-brent-oil-tops-100, 23 Jul 2026]

Explanation: The benchmark three-month copper price was recorded at $13,725.50 per metric ton on the LME on July 23, 2026. This figure reflects the market adjustment following the rise in global oil prices. [Source: https://www.brecorder.com/news/40431447/copper-dips-as-soaring-oil-prices-weigh-on-economic-outlook, 23 Jul 2026]

Explanation: Available LME copper stocks were reported at 107,850 tons, which represents the lowest inventory level since January 2026. This scarcity of supply has provided some support to copper prices despite broader economic headwinds. [Source: https://www.brecorder.com/news/40431447/copper-dips-as-soaring-oil-prices-weigh-on-economic-outlook, 23 Jul 2026]

Explanation: The Yangshan copper premium in China was actually at its highest daily assessment since November 2022, not the lowest. The other statements accurately reflect the market conditions described. [Source: https://www.brecorder.com/news/40431447/copper-dips-as-soaring-oil-prices-weigh-on-economic-outlook, 23 Jul 2026]

Explanation: Statement 1 is correct as the inter-bank closing rate was 277.90. Statement 2 is correct as Brent futures rose by 7%. Statement 3 is incorrect because the US dollar index actually eased by 0.06% rather than strengthening significantly. [Source: https://www.brecorder.com/news/40431436/pakistani-rupee-records-gain-against-us-dollar, 23 Jul 2026]

Explanation: Based on the provided events, the order follows: Judicial precedent (Supreme Court rule on evidence), Oversight (Senate panel summoning NAB), Internal Administration (Interior Minister's restructuring proposal), and finally Public Policy (reinstatement of food welfare). These represent the hierarchy of governance from legal foundation to ministerial execution. [Source: https://www.brecorder.com/news/40432487/case-must-be-decided-according-to-what-is-pleaded-and-proved-sc]

Explanation: The 20th National Workshop Balochistan took place at the General Headquarters in Rawalpindi. This venue is the primary administrative and command center for the Pakistan Army. [Source: https://www.brecorder.com/news/40431473/field-marshal-munir-vows-to-continue-operations-against-terrorists-in-balochistan, 23 Jul 2026]

Explanation: The Commission explicitly stated that it may apply the principles of the current decision to AI-generated summaries and that talks regarding AI Overviews would continue, making the claim that future action is ruled out incorrect. [Source: https://www.dawn.com/news/2017814/google-hit-with-1bn-eu-fine-in-constructive-talks-to-avoid-more-penalties, 23 Jul 2026]

Explanation: The decline in Indian shares was attributed to rising oil prices caused by geopolitical tensions in the Middle East. This surge in energy costs negatively impacted investor sentiment and global risk appetite. [Source: https://www.brecorder.com/news/40431442/indian-shares-extend-drop-on-oil-surge-infosys-indigo-results-awaited, 23 Jul 2026]

Explanation: Feroze Jamall is the IATA Country Manager for Pakistan. Sheldon Hee and Azhar Azahari were also present as part of the delegation, but in different regional capacities. [Source: https://www.brecorder.com/news/40431349/paa-iata-discuss-future-aviation-roadmap, 23 Jul 2026]

Explanation: Brent crude futures rose by $4.52, or 4.80%, to reach $98.59 a barrel on July 23, 2026. This increase was driven by market concerns regarding shipping routes and regional geopolitical instability. [Source: https://www.brecorder.com/news/40431470/most-gulf-markets-gain-on-quarterly-earnings-but-geopolitical-risks-limit-upside, 23 Jul 2026]

Explanation: The benchmark palm oil contract is traded on the Bursa Malaysia Derivatives Exchange. The Chicago Board of Trade and Dalian Commodity Exchange are relevant to rival oils like soyoil but are not the primary venue for the Malaysian palm oil contract mentioned. [Source: https://www.brecorder.com/news/40431446/palm-oil-hits-3-month-high-on-supply-risks-biodiesel-demand-prospects, 23 Jul 2026]

Explanation: Higher oil prices typically increase currency volatility rather than decrease it. The other three options are explicitly cited as risks associated with the surge in oil prices. [Source: https://www.brecorder.com/news/40431443/indian-rupee-ends-nearly-flat-as-central-bank-intervention-blunts-oil-strain, 23 Jul 2026]