[{"explanation": "<p>The transactions in BOP are categorized in:</p>\n<ol>\n<li>a) Current account showing export and import of visibles (also called merchandise) and invisibles (also called non-merchandise). Invisibles take into account services, transfers and income.</li>\n<li>b) Capital account showing a capital expenditure and income for a country. It gives a summary of the net flow of both private and public investment into an economy. External commercial borrowing (ECB), foreign direct investment, foreign portfolio investment, etc form a part of capital account.</li>\n</ol>", "question": "<p>Which among the following transactions are recorded under the Capital Account as part of Balance of Payments (BoP)?</p>\n<ol>\n<li>Foreign Investment</li>\n<li>Import and Export of Goods</li>\n<li>Remittances</li>\n<li>External Commercial Borrowings (ECBs)</li>\n</ol>\n<p>Select the correct answer using the code given below:</p>", "options": [{"option_id": "5f1851167737d474912d91f6", "is_correct_answer": false, "title": "<p>1 and 2 only</p>"}, {"option_id": "5f1851167737d474912d91f7", "is_correct_answer": false, "title": "<p>2 and 3 only</p>"}, {"option_id": "5f1851167737d474912d91f8", "is_correct_answer": false, "title": "<p>2 and 4 only</p>"}, {"option_id": "5f1851167737d474912d91f9", "is_correct_answer": true, "title": "<p>1 and 4 only</p>"}], "question_id": "5f1851167737d474912d91f5"}, {"explanation": "<p>Under the FRBM Act, the Government cannot borrow money from RBI for meeting its deficit. It can do so only under exceptional circumstances. Exceptional circumstances under which Government can borrow money from RBI for meeting its deficit include- National security, Act of war, National calamity, Collapse of agriculture, Structural reforms, decline in real output growth of a quarter by at least three per cent. points below its average of the previous four quarters</p>", "question": "<p>With reference to Direct Monetization of Government's deficit, consider the following statements:</p>\n<ol>\n<li>It refers to direct borrowing by the Government from the RBI through the issuance of G-Secs.</li>\n<li>The FRBM act completely prohibits the direct Monetization of Government's deficit.</li>\n</ol>\n<p>Which of the statements given above is/are correct?</p>", "options": [{"option_id": "5f1851467737d472cb2ef720", "is_correct_answer": true, "title": "<p>1 only</p>"}, {"option_id": "5f1851467737d472cb2ef721", "is_correct_answer": false, "title": "<p>2 only</p>"}, {"option_id": "5f1851467737d472cb2ef722", "is_correct_answer": false, "title": "<p>Both 1 and 2</p>"}, {"option_id": "5f1851467737d472cb2ef723", "is_correct_answer": false, "title": "<p>Neither 1 nor 2</p>"}], "question_id": "5f1851467737d472cb2ef71f"}, {"explanation": "<p>The balance of payments (BoP) record the transactions in goods, services and assets between residents of a country with the rest of the world for a specified time period typically a year. There are two main accounts in the BoP &mdash; the current account and the capital account.</p>\n<p>Current Account is the record of trade in goods and services and transfer payments. Trade in goods includes exports and imports of goods. Trade in services includes factor income and non-factor income transactions. Transfer payments are the receipts which the residents of a country get for &lsquo;free&rsquo;, without having to provide any goods or services in return. They Consist of gifts, remittances and grants. They could be given by the government or by private citizens living abroad.</p>", "question": "<p>Which among the following are the components of the Current Account under the Balance of Payments (BoP)?</p>\n<ol>\n<li>Trade in Goods</li>\n<li>External Borrowings</li>\n<li>Gifts and Remittances</li>\n<li>Foreign Investment</li>\n</ol>\n<p>Select the correct answer using the code given below:</p>", "options": [{"option_id": "5f1851877737d472cfe5e94f", "is_correct_answer": false, "title": "<p>1 and 2 only</p>"}, {"option_id": "5f1851877737d472cfe5e950", "is_correct_answer": true, "title": "<p>1 and 3 only</p>"}, {"option_id": "5f1851877737d472cfe5e951", "is_correct_answer": false, "title": "2 and 3 only"}, {"option_id": "5f1851877737d472cfe5e952", "is_correct_answer": false, "title": "<p>2 and 4 only</p>"}], "question_id": "5f1851877737d472cfe5e94e"}, {"explanation": "<p>Statement 3 is INCORRECT.</p>\n<p>Important Provisions of CPA-2019&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>\n<p>Central Authority aims to promote, protect and enforce the rights of consumers; make interventions when necessary to prevent consumer detriment arising from unfair trade practices and to initiate class action including enforcing recall, refund and return of products, etc.</p>\n<p>The Central Authority shall have an Investigation Wing headed by a Director-General for the purpose of conducting inquiry or investigation on consumer disputes.</p>\n<p>Product Liability Action - A product liability action may be brought by a complainant against a product manufacturer or a product service provider or a product seller, for any harm caused to him on account of a defective product.</p>\n<p>Product Liability of Manufacturer/Service Provider/Seller &ndash; They shall be responsible to compensate for injury or damage caused by defective product, deficiency in services or design, lack of express warranty, inadequate instructions for correct usage leading to harm of product.&nbsp;&nbsp;</p>\n<p>Dispute Resolution - The Act envisages simplified dispute resolution process, has provision for Mediation and e-filing of cases.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>\n<p>Punishment for Misleading Advertisements - There are provisions for deterrent punishment to check misleading advertisements and adulteration of products.</p>\n<p>Regulation for E-Commerce &ndash; The Act regulates buying or selling of goods or services including digital products over digital or electronic network.</p>", "question": "<p>Consider the following statements about&nbsp; the Consumer Protection Act 2019:</p>\n<ol>\n<li>The Act establishes the Central Consumer Protection Authority to protect and enforce consumer rights.</li>\n<li>A product liability action may be brought by a complainant under the Act for any harm caused on account of a defective product.</li>\n<li>The Act does not regulate buying or selling of goods or services including digital products over digital or electronic network.</li>\n</ol>\n<p>Which of the statements given above is/are correct?</p>", "options": [{"option_id": "5f1851ca7737d472cb2ef78f", "is_correct_answer": false, "title": "<p>1 and 3 only</p>"}, {"option_id": "5f1851ca7737d472cb2ef790", "is_correct_answer": false, "title": "<p>2 only</p>"}, {"option_id": "5f1851ca7737d472cb2ef791", "is_correct_answer": false, "title": "<p>3 only</p>"}, {"option_id": "5f1851ca7737d472cb2ef792", "is_correct_answer": true, "title": "<p>1 and 2 only</p>"}], "question_id": "5f1851ca7737d472cb2ef78e"}]

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