world organisations section 4 MCQ Questions & Answers Detailed Explanation

Answer: (d)

The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995, under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948.

The organization deals with the regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants’ adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments.

Answer: (b)

The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995, under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948.

The organization deals with the regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants’ adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments.

Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round.

Answer: (c)

The Organization of the Petroleum Exporting Countries is an intergovernmental organization of twelve oil-producing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.

OPEC has had its headquarters in Vienna since 1965 and hosts regular meetings among the oil ministers of its Member Countries.

Indonesia withdrew in 2008 after it became a net importer of oil, but stated it would likely return if it became a net exporter again.

Answer: (c)

The official emblem of the United Nations in white, centered on a light blue ground. The current United Nations emblem was approved on 7 December 1946.

The design is “a map of the world representing an azimuthal equidistant projection centred on the North Pole, inscribed in a wreath consisting of crossed conventionalized branches of the olive tree, in gold on a field of smoke-blue with all water areas in white.

Answer: (c)

Secretaries-General serve for five-year terms that can be renewed indefinitely, although none so far has held office for more than two terms.

The United Nations Charter provides for the Secretary-General to be appointed by the General Assembly upon the recommendation of the Security Council, where the permanent members have veto power. The General Assembly can theoretically override the Security Council’s recommendation if a majority vote is not achieved, although this has not happened so far.

There are no specific criteria for the post, but over the years, it has become accepted that the post shall be held for one or two terms of five years, that the post shall be appointed on the basis of geographical rotation, and that the Secretary-General shall not originate from one of the five permanent Security Council member states.

Answer: (b)

The World Bank, Chennai is the sole back office of the World Bank headquartered in Washington, DC. The Chennai office offers corporate financial, accounting, administrative and IT services for the Bank’s offices in around 150 countries.

The Chennai office handles several value-added operations of the bank that were earlier handled only in its Washington, DC office. When the bank commenced its Chennai operations, it was primarily restricted to processing. An analysis component was added later.