1. What best explains why the Strait of Hormuz matters strategically?
Answer: D. Hormuz is among the most important energy chokepoints on earth. A big portion of the Persian Gulf's oil and LNG exports squeezes through this narrow channel to reach world markets.
2. Between which pair of countries does the Strait of Hormuz lie?
Answer: C. Iran sits to the north of the strait and Oman to the south. The channel links the Persian Gulf to the Gulf of Oman and onward to the Arabian Sea.
3. What share of the divisible tax pool goes to the states under the 16th Finance Commission (2026–31) recommendations?
Answer: A. The 16th Finance Commission kept the states' portion of the divisible pool of central taxes at 41%. This simply continues what the 15th Finance Commission had recommended.
4. Which criterion did the 16th Finance Commission newly add to the horizontal devolution formula?
Answer: B. A new parameter called Contribution to GDP, weighted at 10%, was brought into the horizontal devolution formula. It took the place of earlier parameters such as tax effort or fiscal discipline.
5. The National Mobile Monitoring System (NMMS) app is mainly used in carrying out which government scheme?
Answer: E. Under MGNREGS the NMMS app logs workers' attendance and uploads geotagged site photos. This makes wage payments more transparent.
6. To which bird family does the Dusky Eagle-Owl belong?
Answer: B. The Dusky Eagle-Owl, Ketupa coromanda, is a large raptor of the owl family Strigidae. It lives across South and Southeast Asia.
7. IRDAI has suggested that insurers move away from IGAAP and adopt which accounting framework?
Answer: C. The insurance regulator wants insurers to shift from Indian GAAP to Indian Accounting Standards. Ind AS is aligned with the international IFRS standards.
8. How much can the portfolio overlap between thematic or sectoral funds and other equity schemes be, according to SEBI's revised mutual fund categorisation norms?
Answer: A. SEBI set a 50% ceiling on overlap so that schemes stay meaningfully distinct. This stops fund houses from launching several funds holding near-identical portfolios.
9. Which description fits a Certificate of Deposit (CD) best?
Answer: E. A CD is a money market instrument through which banks raise short-term funds from institutional investors. Its maturity usually runs from 7 days up to a year.
10. What is the minimum Liquidity Coverage Ratio (LCR) that the Reserve Bank of India obliges banks to hold?
Answer: D. LCR makes sure banks keep enough high-quality liquid assets to cover a 30-day stress period. RBI sets the floor for this ratio at 100%.
11. The Strait of Hormuz lies between Iran and which country?
Answer: A. Iran is to the north and Oman to the south.
12. Under which Article of the Constitution is the Finance Commission constituted, as per the 16th Finance Commission notes?
Answer: B. Article 280 governs the Finance Commission.
13. Which mobile application records MGNREGS worker attendance with mandatory facial recognition from 1 March?
Answer: A. The National Mobile Monitoring System requires face authentication.
14. What is the IUCN status of the Ruddy Shelduck according to the notes?
Answer: C. The IUCN lists the Ruddy Shelduck as Least Concern.
15. Where is the 14th WTO Ministerial Conference (MC14) held?