UN & International Organisations Quiz: Economy Practice

Spoilers! These are the Starter quiz’s answers. Easy, Medium, Hard and Mixed rounds show their own answers when you finish.

1. The International Monetary Fund and the World Bank (IBRD) were created at the:

   • San Francisco Conference, 1945
   • Bretton Woods Conference, 1944
   • Geneva Conference, 1947
   • Marrakesh meeting, 1994

   Answer: Bretton Woods Conference, 1944. The Bretton Woods Conference (New Hampshire, USA, July 1944) set up both institutions, called the Bretton Woods twins. The UN Charter was signed at San Francisco in 1945 and the WTO agreement at Marrakesh in 1994.

2. The World Trade Organization came into existence on:

   • 30 October 1947
   • 1 January 1948
   • 15 April 1994
   • 1 January 1995

   Answer: 1 January 1995. The WTO began on 1 January 1995, replacing GATT (signed 1947, effective 1948). The Marrakesh Agreement establishing it was signed on 15 April 1994 at the end of the Uruguay Round.

3. Which currency is NOT part of the IMF's Special Drawing Rights (SDR) basket?

   • Chinese renminbi
   • Japanese yen
   • Swiss franc
   • Pound sterling

   Answer: Swiss franc. The SDR basket has five currencies: US dollar, euro, Chinese renminbi (added in 2016), Japanese yen and pound sterling. The Swiss franc is not included.

4. Which member of the World Bank Group lends to and invests in the private sector in developing countries?

   • International Finance Corporation (IFC)
   • International Development Association (IDA)
   • Multilateral Investment Guarantee Agency (MIGA)
   • International Centre for Settlement of Investment Disputes (ICSID)

   Answer: International Finance Corporation (IFC). IFC deals with private firms. IDA gives concessional loans and grants to the poorest countries' governments, MIGA insures investors against political risk, and ICSID settles investment disputes.

5. Which pair of UN agency and headquarters is correctly matched?

   • UNESCO - Geneva
   • ILO - New York
   • FAO - Rome
   • WHO - Vienna

   Answer: FAO - Rome. FAO is in Rome. UNESCO is in Paris, the ILO and WHO are both in Geneva, and Vienna hosts UNIDO and the IAEA.

6. Which UN specialised agency has a tripartite structure in which governments, employers and workers are all represented?

   • World Health Organization
   • International Labour Organization
   • UN Industrial Development Organization
   • International Fund for Agricultural Development

   Answer: International Labour Organization. The ILO, set up in 1919 under the Treaty of Versailles, gives voting voice to governments, employers and workers alike. India is a founding member.

7. The 'World Economic Outlook' report is published by:

   • World Bank
   • World Economic Forum
   • UNCTAD
   • International Monetary Fund

   Answer: International Monetary Fund. The IMF publishes the World Economic Outlook and the Global Financial Stability Report. The World Bank publishes the World Development Report and UNCTAD the World Investment Report.

8. Where is the headquarters of the New Development Bank set up by the BRICS countries?

   • Shanghai
   • Beijing
   • New Delhi
   • Moscow

   Answer: Shanghai. The NDB is headquartered in Shanghai and its first president was India's K. V. Kamath. Beijing hosts the Asian Infrastructure Investment Bank (AIIB), a different institution.

9. Non-permanent members of the UN Security Council are elected for a term of:

   • 1 year
   • 3 years
   • 2 years
   • 5 years

   Answer: 2 years. The Security Council has 15 members: 5 permanent members with veto power and 10 non-permanent members elected by the General Assembly for two-year terms.

10. Consider the following statements: 1. UNICEF is a specialised agency of the United Nations. 2. The Human Development Report is published by the UNDP. Which is/are correct?

    • 1 only
    • 2 only
    • Both 1 and 2
    • Neither 1 nor 2

    Answer: 2 only. UNICEF is a UN fund created by the General Assembly, not an autonomous specialised agency like WHO or FAO. The UNDP has published the Human Development Report, which includes the HDI, since 1990.