DAILY QUIZ- DEC 03

1. Consider the following statements about Central Bank Digital Currency:

1)     It is the same as a fiat currency and is exchangeable one-to-one with the fiat currency.

2)     It will be potentially available for use by all which includes the private sector, non-financial consumers and businesses.

Which of the above statements is/are correct?

a)     1 only

b)     2 only

c)      Both 1 and 2

d)     Neither 1 nor 2

ANSWER: C

EXPLANATION:

Central Bank Digital Currency:

·         It is the legal tender issued by a central bank in a digital form. 

·         It is the same as a fiat currency and is exchangeable one-to-one with the fiat currency. 

·         Only its form is different.

·         It will be an electronic version of cash.

·         It will be primarily meant for retail transactions. 

·         It will be potentially available for use by all which includes the private sector, non-financial consumers and businesses.

·         It will be able to provide access to safe money for payment and settlement.

·         It will be the direct liability of the central bank.

2. which of the following order is correct regarding Black hole formation:

a)     Dying star- Blackhole-Supernova-Quasar

b)     Dying star- Supernova-Blackhole- Quasar

c)      Dying star -Supernova-Quasar- Blackhole

d)     Dying star- Blackhole -Quasar-Supernova

ANSWER: B

3. Consider the following statements about the Great Barrier Reef?

1)     It is located off the coast of Queensland in Australia.

2)     The reef is currently in the endangered list of IUCN.

Which of the above statements is/are correct?

a)     1 only

b)     2 only

c)      Both 1 and 2

d)     Neither 1 nor 2

ANSWER: A

EXPLANATION:

The Great Barrier Reef:

·         Recently, a joint report by the IUCN and UNESCO’s World Heritage Centre has recommended that the Great Barrier Reef should be inscribed on the List of World Heritage in Danger which has been opposed by Australia.

·         The reef is currently not in the endangered list.

·         It is located off the coast of Queensland in Australia.

·         It is the world’s largest coral reef system with over 2,900 individual reefs, 900 islands and an area covering approximately 344,400 square kilometres.

·         It is one of the biggest biodiversity hotspots in the world as well as one of its largest carbon sinks.

·         It is managed as a multiple use area where a range of commercial and tourism activities are permitted.