world organisations section 4 MCQ Questions & Answers Detailed Explanation

Answer: (c)

The International Bank for Reconstruction and Development (IBRD) and its concessional lending arm, the International Development Association, are collectively known as the World Bank as they share the same leadership and staff. Established in 1944, it is an international financial institution that offers loans to middle-income developing countries.

Answer: (d)

There are 15 members of the Security Council. This includes five veto-wielding permanent members—China, France, Russia, the United Kingdom, and the United States—based on the great powers that were the victors of World War II.

Answer: (a)

The World Trade Organization (WTO) is headquartered at Centre William Rappard, Geneva, Switzerland. It is an intergovernmental organization that regulates international trade.

The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948.

Answer: (c)

The United Nations’ system consists of the six principal organs established by the Charter of the United Nations: the General Assembly, the Security Council, the Economic and Social Council, the Trusteeship Council, the International Court of Justice, and the UN Secretariat. All these organs were established in 1945 when the UN was founded.

Answer: (c)

Special drawing rights (SDRs) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF).

Not a currency, SDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged.

As they can only be exchanged for euros, Japanese yen, pounds sterling, or US dollars, SDRs may actually represent a potential claim on IMF member countries’ non-gold foreign exchange reserve assets, which are usually held in those currencies.

Answer: (b)

The United Nations Organisation (UNO) is an intergovernmental organization established on 24 October 1945 to promote international cooperation. It was founded to replace the League of Nations following World War II and to prevent another conflict.