UPSC Current Affairs Quiz : 14 January 2026

The Current Affairs Quiz is a daily quiz based on the DAILY CURRENT AFFAIRS AND PIB SUMMARY from the previous day, as posted on our website. It covers all relevant news sources and is designed to test your knowledge of current events. Solving these questions will help you retain both concepts and facts relevant to the UPSC IAS civil services exam.

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• Question 1 of 10 1. Question 1 points Consider the following statements: Secondary pollutants are formed in the atmosphere through chemical reactions involving primary pollutants. Sulphur dioxide (SO₂) is a primary pollutant, whereas ammonium sulphate is a secondary pollutant. The presence of sunlight is a mandatory condition for the formation of all types of secondary pollutants. Which of the above statements are correct? (a) 1 and 2 only (b) 1 and 3 only (c) 2 and 3 only (d) 1, 2 and 3 Correct Solution: A Statement 1 is correct. This is the definition of a secondary pollutant. They are not emitted directly from sources like vehicle exhausts or industrial smokestacks. Instead, they are synthesized in the atmosphere when primary pollutants (e.g., NOx, SO₂) react with each other or with other atmospheric components like water vapor and volatile organic compounds. Statement 2 is correct. Sulphur dioxide (SO₂) is a classic example of a primary pollutant, as it is directly emitted, primarily from the combustion of fossil fuels like coal. Ammonium sulphate ((NH₄)₂SO₄) is a secondary pollutant because it is formed from the atmospheric reaction between two primary pollutants: sulphur dioxide and ammonia (NH₃). Statement 3 is incorrect. While sunlight is a crucial catalyst for the formation of certain secondary pollutants, such as photochemical smog and ozone, it is not required for all. The formation of ammonium sulphate, for example, can occur through aqueous-phase reactions within cloud droplets or aerosol water, which are not necessarily dependent on sunlight. Therefore, sunlight is a key factor for some, but not all, secondary pollutant formation pathways. Incorrect Solution: A Statement 1 is correct. This is the definition of a secondary pollutant. They are not emitted directly from sources like vehicle exhausts or industrial smokestacks. Instead, they are synthesized in the atmosphere when primary pollutants (e.g., NOx, SO₂) react with each other or with other atmospheric components like water vapor and volatile organic compounds. Statement 2 is correct. Sulphur dioxide (SO₂) is a classic example of a primary pollutant, as it is directly emitted, primarily from the combustion of fossil fuels like coal. Ammonium sulphate ((NH₄)₂SO₄) is a secondary pollutant because it is formed from the atmospheric reaction between two primary pollutants: sulphur dioxide and ammonia (NH₃). Statement 3 is incorrect. While sunlight is a crucial catalyst for the formation of certain secondary pollutants, such as photochemical smog and ozone, it is not required for all. The formation of ammonium sulphate, for example, can occur through aqueous-phase reactions within cloud droplets or aerosol water, which are not necessarily dependent on sunlight. Therefore, sunlight is a key factor for some, but not all, secondary pollutant formation pathways.

#### 1. Question

Consider the following statements:

• Secondary pollutants are formed in the atmosphere through chemical reactions involving primary pollutants.

• Sulphur dioxide (SO₂) is a primary pollutant, whereas ammonium sulphate is a secondary pollutant.

• The presence of sunlight is a mandatory condition for the formation of all types of secondary pollutants.

Which of the above statements are correct?

• (a) 1 and 2 only

• (b) 1 and 3 only

• (c) 2 and 3 only

• (d) 1, 2 and 3

Solution: A

• Statement 1 is correct. This is the definition of a secondary pollutant. They are not emitted directly from sources like vehicle exhausts or industrial smokestacks. Instead, they are synthesized in the atmosphere when primary pollutants (e.g., NOx, SO₂) react with each other or with other atmospheric components like water vapor and volatile organic compounds.

• Statement 2 is correct. Sulphur dioxide (SO₂) is a classic example of a primary pollutant, as it is directly emitted, primarily from the combustion of fossil fuels like coal. Ammonium sulphate ((NH₄)₂SO₄) is a secondary pollutant because it is formed from the atmospheric reaction between two primary pollutants: sulphur dioxide and ammonia (NH₃).

• Statement 3 is incorrect. While sunlight is a crucial catalyst for the formation of certain secondary pollutants, such as photochemical smog and ozone, it is not required for all. The formation of ammonium sulphate, for example, can occur through aqueous-phase reactions within cloud droplets or aerosol water, which are not necessarily dependent on sunlight. Therefore, sunlight is a key factor for some, but not all, secondary pollutant formation pathways.

Solution: A

• Question 2 of 10 2. Question 1 points Consider the following statements: The addition of the word “Secular” to the Preamble through the 42nd Amendment was the first time the concept was introduced into the constitutional framework. The Minerva Mills (1980) case invalidated the insertion of “socialist” and “secular” into the Preamble. The Supreme Court in the Kesavananda Bharati (1973) case identified ‘Fraternity’ as part of the ‘basic structure’ of the Constitution. How many of the above statements is/are incorrect? (a) Only one (b) Only two (c) All three (d) None Correct Solution: C Statement 1 is incorrect. The concept of secularism was already inherent in the Constitution, particularly in the fundamental rights ensuring freedom of religion (Articles 25-28). As the Supreme Court noted in the St. Xavier’s College case, the 42nd Amendment only made explicit what was already implicit. Statement 2 is incorrect. The Minerva Mills (1980) case upheld the constitutional validity of the 42nd Amendment’s insertion of “socialist” and “secular” into the Preamble, stating that these additions simply clarified and reinforced the existing constitutional philosophy. Statement 3 is incorrect. While the Kesavananda Bharati case established the ‘basic structure’ doctrine, it specifically identified features like secularism, federalism, and judicial review. While fraternity is a core constitutional value, it was in later judgments, such as the S.R. Bommai case, that the scope of the basic structure was further elaborated. ‘Fraternity’ has not been as explicitly and consistently cited as a ‘basic feature’ in the same way as secularism or judicial review in landmark cases. The most prominent feature identified in Kesavananda Bharati related to the Preamble was secularism. Incorrect Solution: C Statement 1 is incorrect. The concept of secularism was already inherent in the Constitution, particularly in the fundamental rights ensuring freedom of religion (Articles 25-28). As the Supreme Court noted in the St. Xavier’s College case, the 42nd Amendment only made explicit what was already implicit. Statement 2 is incorrect. The Minerva Mills (1980) case upheld the constitutional validity of the 42nd Amendment’s insertion of “socialist” and “secular” into the Preamble, stating that these additions simply clarified and reinforced the existing constitutional philosophy. Statement 3 is incorrect. While the Kesavananda Bharati case established the ‘basic structure’ doctrine, it specifically identified features like secularism, federalism, and judicial review. While fraternity is a core constitutional value, it was in later judgments, such as the S.R. Bommai case, that the scope of the basic structure was further elaborated. ‘Fraternity’ has not been as explicitly and consistently cited as a ‘basic feature’ in the same way as secularism or judicial review in landmark cases. The most prominent feature identified in Kesavananda Bharati related to the Preamble was secularism.

#### 2. Question

Consider the following statements:

• The addition of the word “Secular” to the Preamble through the 42nd Amendment was the first time the concept was introduced into the constitutional framework.

• The Minerva Mills (1980) case invalidated the insertion of “socialist” and “secular” into the Preamble.

• The Supreme Court in the Kesavananda Bharati (1973) case identified ‘Fraternity’ as part of the ‘basic structure’ of the Constitution.

How many of the above statements is/are incorrect?

• (a) Only one

• (b) Only two

• (c) All three

Solution: C

• Statement 1 is incorrect. The concept of secularism was already inherent in the Constitution, particularly in the fundamental rights ensuring freedom of religion (Articles 25-28). As the Supreme Court noted in the St. Xavier’s College case, the 42nd Amendment only made explicit what was already implicit.

• Statement 2 is incorrect. The Minerva Mills (1980) case upheld the constitutional validity of the 42nd Amendment’s insertion of “socialist” and “secular” into the Preamble, stating that these additions simply clarified and reinforced the existing constitutional philosophy.

• Statement 3 is incorrect. While the Kesavananda Bharati case established the ‘basic structure’ doctrine, it specifically identified features like secularism, federalism, and judicial review. While fraternity is a core constitutional value, it was in later judgments, such as the S.R. Bommai case, that the scope of the basic structure was further elaborated. ‘Fraternity’ has not been as explicitly and consistently cited as a ‘basic feature’ in the same way as secularism or judicial review in landmark cases. The most prominent feature identified in Kesavananda Bharati related to the Preamble was secularism.

Solution: C

• Question 3 of 10 3. Question 1 points Match the following lists and select the correct answer using the code given below: List-I (Type of Predatory Pricing) List-II (Description) A. Direct Predation 1. Using profits from a profitable market to sustain losses in another market B. Cross-subsidisation 2. Offering lower prices to a specific group of customers to stifle competition C. Discriminatory Pricing 3. Selling a product below its production cost to drive out rivals Select the correct answer code: (a) A-2, B-1, C-3 (b) A-1, B-3, C-2 (c) A-3, B-1, C-2 (d) A-3, B-2, C-1 Correct Solution: C Direct Predation (A) is the classic form of predatory pricing. It involves a dominant firm setting the price of a product or service below its cost of production. This aggressive, loss-making strategy is aimed squarely at forcing competitors who cannot sustain similar losses to exit the market. This correctly matches with description 3. Cross-subsidisation (B) is a more nuanced predatory tactic. A multi-product firm uses high profits from one business vertical or geographical market, where it faces little competition, to fund the losses incurred from selling another product at artificially low prices in a competitive market. This correctly pairs with description 1. Discriminatory Pricing (C) in a predatory context involves a dominant firm targeting specific customer segments or geographic areas with below-cost prices. This is done to selectively eliminate smaller, regional competitors or prevent new entrants in those specific markets, without having to lower prices across the board. This matches with description 2. Incorrect Solution: C Direct Predation (A) is the classic form of predatory pricing. It involves a dominant firm setting the price of a product or service below its cost of production. This aggressive, loss-making strategy is aimed squarely at forcing competitors who cannot sustain similar losses to exit the market. This correctly matches with description 3. Cross-subsidisation (B) is a more nuanced predatory tactic. A multi-product firm uses high profits from one business vertical or geographical market, where it faces little competition, to fund the losses incurred from selling another product at artificially low prices in a competitive market. This correctly pairs with description 1. Discriminatory Pricing (C) in a predatory context involves a dominant firm targeting specific customer segments or geographic areas with below-cost prices. This is done to selectively eliminate smaller, regional competitors or prevent new entrants in those specific markets, without having to lower prices across the board. This matches with description 2.

#### 3. Question

Match the following lists and select the correct answer using the code given below:

List-I (Type of Predatory Pricing) | List-II (Description)

A. Direct Predation | 1. Using profits from a profitable market to sustain losses in another market

B. Cross-subsidisation | 2. Offering lower prices to a specific group of customers to stifle competition

C. Discriminatory Pricing | 3. Selling a product below its production cost to drive out rivals

Select the correct answer code:

• (a) A-2, B-1, C-3

• (b) A-1, B-3, C-2

• (c) A-3, B-1, C-2

• (d) A-3, B-2, C-1

Solution: C

• Direct Predation (A) is the classic form of predatory pricing. It involves a dominant firm setting the price of a product or service below its cost of production. This aggressive, loss-making strategy is aimed squarely at forcing competitors who cannot sustain similar losses to exit the market. This correctly matches with description 3.

• Cross-subsidisation (B) is a more nuanced predatory tactic. A multi-product firm uses high profits from one business vertical or geographical market, where it faces little competition, to fund the losses incurred from selling another product at artificially low prices in a competitive market. This correctly pairs with description 1.

• Discriminatory Pricing (C) in a predatory context involves a dominant firm targeting specific customer segments or geographic areas with below-cost prices. This is done to selectively eliminate smaller, regional competitors or prevent new entrants in those specific markets, without having to lower prices across the board. This matches with description 2.

Solution: C

• Question 4 of 10 4. Question 1 points Consider the following statements regarding the Preamble of the Indian Constitution: The Preamble is based on the ‘Objectives Resolution’ drafted and moved by Dr. B.R. Ambedkar. The 42nd Constitutional Amendment Act (1976) added the words ‘Socialist’, ‘Secular’, and ‘Republic’ to the Preamble. In the Berubari Union case (1960), the Supreme Court held that the Preamble is a part of the Constitution and can be amended. How many of the above statements is/are incorrect? (a) Only one (b) Only two (c) All three (d) None Correct Solution: C Statement 1 is incorrect because the ‘Objectives Resolution’ was drafted and moved by Pandit Jawaharlal Nehru, not Dr. B.R. Ambedkar. This resolution laid down the philosophical foundations of the Constitution and was later adapted as the Preamble. Statement 2 is incorrect. The 42nd Amendment Act of 1976 added three new words – ‘Socialist’, ‘Secular’, and ‘Integrity’ – to the Preamble. The word ‘Republic’ was already part of the Preamble from its inception. Statement 3 is incorrect. In the *Berubari Union case (1960), the Supreme Court stated that the Preamble is not a part of the Constitution and therefore cannot be amended. This position was later reversed in the landmark Kesavananda Bharati case (1973), where the Court held that the Preamble is a part of the Constitution and can be amended, subject to the ‘basic structure’ doctrine. Incorrect Solution: C Statement 1 is incorrect because the ‘Objectives Resolution’ was drafted and moved by Pandit Jawaharlal Nehru, not Dr. B.R. Ambedkar. This resolution laid down the philosophical foundations of the Constitution and was later adapted as the Preamble. Statement 2 is incorrect. The 42nd Amendment Act of 1976 added three new words – ‘Socialist’, ‘Secular’, and ‘Integrity’ – to the Preamble. The word ‘Republic’ was already part of the Preamble from its inception. Statement 3 is incorrect. In the Berubari Union case (1960), the Supreme Court stated that the Preamble is not a part of the Constitution and therefore cannot be amended. This position was later reversed in the landmark Kesavananda Bharati case (1973)*, where the Court held that the Preamble is a part of the Constitution and can be amended, subject to the ‘basic structure’ doctrine.

#### 4. Question

Consider the following statements regarding the Preamble of the Indian Constitution:

• The Preamble is based on the ‘Objectives Resolution’ drafted and moved by Dr. B.R. Ambedkar.

• The 42nd Constitutional Amendment Act (1976) added the words ‘Socialist’, ‘Secular’, and ‘Republic’ to the Preamble.

• In the Berubari Union case (1960), the Supreme Court held that the Preamble is a part of the Constitution and can be amended.

How many of the above statements is/are incorrect?

• (a) Only one

• (b) Only two

• (c) All three

Solution: C

• Statement 1 is incorrect because the ‘Objectives Resolution’ was drafted and moved by Pandit Jawaharlal Nehru, not Dr. B.R. Ambedkar. This resolution laid down the philosophical foundations of the Constitution and was later adapted as the Preamble.

• Statement 2 is incorrect. The 42nd Amendment Act of 1976 added three new words – ‘Socialist’, ‘Secular’, and ‘Integrity’ – to the Preamble. The word ‘Republic’ was already part of the Preamble from its inception.

• Statement 3 is incorrect. In the *Berubari Union case (1960), the Supreme Court stated that the Preamble is not a part of the Constitution and therefore cannot be amended. This position was later reversed in the landmark Kesavananda Bharati case (1973)*, where the Court held that the Preamble is a part of the Constitution and can be amended, subject to the ‘basic structure’ doctrine.

Solution: C

• Question 5 of 10 5. Question 1 points Which of the following factors are identified as key drivers of intensifying global drought hotspots? Rising global temperatures leading to increased evapotranspiration. Unsustainable groundwater extraction and deforestation. Effective early warning systems and adaptive land management. Select the correct answer using the code given below: (a) 1 and 3 only (b) 1 and 2 only (c) 1 only (c) 1 only Correct Solution: B Statement 1 is correct. Climate change, manifested through rising global temperatures, is a primary driver. Higher temperatures increase the rate of evapotranspiration—the process by which water is transferred from the land to the atmosphere by evaporation from the soil and other surfaces and by transpiration from plants. This process dries out the soil and vegetation more quickly, leading to prolonged dry spells. Statement 2 is correct. Human activities that lead to resource overexploitation are a significant driver. This includes unsustainable groundwater extraction, which depletes aquifers faster than they can be recharged, and deforestation, which disrupts local water cycles and reduces soil moisture retention. These practices aggravate hydrological imbalances and increase vulnerability to drought. Statement 3 is incorrect. This statement describes solutions to mitigate drought, not causes. Effective early warning systems and adaptive land and water policies are components of good governance that help reduce vulnerability and build resilience against drought. Their absence or inadequacy is what deepens vulnerability. Incorrect Solution: B Statement 1 is correct. Climate change, manifested through rising global temperatures, is a primary driver. Higher temperatures increase the rate of evapotranspiration—the process by which water is transferred from the land to the atmosphere by evaporation from the soil and other surfaces and by transpiration from plants. This process dries out the soil and vegetation more quickly, leading to prolonged dry spells. Statement 2 is correct. Human activities that lead to resource overexploitation are a significant driver. This includes unsustainable groundwater extraction, which depletes aquifers faster than they can be recharged, and deforestation, which disrupts local water cycles and reduces soil moisture retention. These practices aggravate hydrological imbalances and increase vulnerability to drought. Statement 3 is incorrect. This statement describes solutions to mitigate drought, not causes. Effective early warning systems and adaptive land and water policies are components of good governance that help reduce vulnerability and build resilience against drought. Their absence or inadequacy is what deepens vulnerability.

#### 5. Question

Which of the following factors are identified as key drivers of intensifying global drought hotspots?

• Rising global temperatures leading to increased evapotranspiration.

• Unsustainable groundwater extraction and deforestation.

• Effective early warning systems and adaptive land management.

Select the correct answer using the code given below:

• (a) 1 and 3 only

• (b) 1 and 2 only

• (c) 1 only

Solution: B

• Statement 1 is correct. Climate change, manifested through rising global temperatures, is a primary driver. Higher temperatures increase the rate of evapotranspiration—the process by which water is transferred from the land to the atmosphere by evaporation from the soil and other surfaces and by transpiration from plants. This process dries out the soil and vegetation more quickly, leading to prolonged dry spells.

• Statement 2 is correct. Human activities that lead to resource overexploitation are a significant driver. This includes unsustainable groundwater extraction, which depletes aquifers faster than they can be recharged, and deforestation, which disrupts local water cycles and reduces soil moisture retention. These practices aggravate hydrological imbalances and increase vulnerability to drought.

• Statement 3 is incorrect. This statement describes solutions to mitigate drought, not causes. Effective early warning systems and adaptive land and water policies are components of good governance that help reduce vulnerability and build resilience against drought. Their absence or inadequacy is what deepens vulnerability.

Solution: B

• Question 6 of 10 6. Question 1 points A Compliance-Based Code of Conduct is primarily derived from which ethical theory? (a) Utilitarianism (b) Deontological Ethics (c) Consequentialism (d) Virtue Ethics Correct Solution: B A Compliance-Based Code of Conduct emphasizes adherence to a set of pre-defined rules, laws, and policies. The focus is on duty and obligation—individuals are expected to follow these rules regardless of the outcome. This aligns perfectly with Deontological Ethics. Deontology is an ethical theory that judges the morality of an action based on rules. It is often described as “duty-based” or “rule-based” ethics. Virtue Ethics, in contrast, focuses on the character and moral virtues of the individual (e.g., integrity, honesty, courage). This philosophy inspires Value-Based Codes of Conduct, which encourage individuals to cultivate good character rather than just follow a list of dos and don’ts. Consequentialism and its best-known form, Utilitarianism, judge the morality of an action based on its outcomes or consequences (e.g., “the greatest good for the greatest number”). This is different from the rule-bound nature of a compliance-based code, which holds that certain actions are inherently right or wrong irrespective of their consequences. Incorrect Solution: B A Compliance-Based Code of Conduct emphasizes adherence to a set of pre-defined rules, laws, and policies. The focus is on duty and obligation—individuals are expected to follow these rules regardless of the outcome. This aligns perfectly with Deontological Ethics. Deontology is an ethical theory that judges the morality of an action based on rules. It is often described as “duty-based” or “rule-based” ethics. Virtue Ethics, in contrast, focuses on the character and moral virtues of the individual (e.g., integrity, honesty, courage). This philosophy inspires Value-Based Codes of Conduct, which encourage individuals to cultivate good character rather than just follow a list of dos and don’ts. Consequentialism and its best-known form, Utilitarianism, judge the morality of an action based on its outcomes or consequences (e.g., “the greatest good for the greatest number”). This is different from the rule-bound nature of a compliance-based code, which holds that certain actions are inherently right or wrong irrespective of their consequences.

#### 6. Question

A Compliance-Based Code of Conduct is primarily derived from which ethical theory?

• (a) Utilitarianism

• (b) Deontological Ethics

• (c) Consequentialism

• (d) Virtue Ethics

Solution: B

• A Compliance-Based Code of Conduct emphasizes adherence to a set of pre-defined rules, laws, and policies. The focus is on duty and obligation—individuals are expected to follow these rules regardless of the outcome. This aligns perfectly with Deontological Ethics. Deontology is an ethical theory that judges the morality of an action based on rules. It is often described as “duty-based” or “rule-based” ethics.

• Virtue Ethics, in contrast, focuses on the character and moral virtues of the individual (e.g., integrity, honesty, courage). This philosophy inspires Value-Based Codes of Conduct, which encourage individuals to cultivate good character rather than just follow a list of dos and don’ts.

• Consequentialism and its best-known form, Utilitarianism, judge the morality of an action based on its outcomes or consequences (e.g., “the greatest good for the greatest number”). This is different from the rule-bound nature of a compliance-based code, which holds that certain actions are inherently right or wrong irrespective of their consequences.

Solution: B

• Question 7 of 10 7. Question 1 points Which of the following statements best distinguishes between a Code of Conduct and a Code of Ethics? (a) A Code of Conduct applies only to senior management, while a Code of Ethics applies to all employees within an organization. (b) A Code of Conduct provides a general framework of moral philosophy, while a Code of Ethics specifies actionable behaviours. (c) A Code of Conduct is focused on adherence to legal and institutional rules, whereas a Code of Ethics is oriented towards guiding principles like integrity and justice. (d) A Code of Conduct is primarily value-driven, whereas a Code of Ethics is rule-based. Correct Solution: C Option (b) is incorrect. This also presents a reversal of the actual definitions. A Code of Ethics deals with the broader moral philosophy, while a Code of Conduct is the actionable document that lists specific expected behaviours and prohibitions. Option (c) is correct. It accurately captures the core difference. A Code of Conduct is a set of specific rules and guidelines that an individual or organization must follow, often focusing on compliance with laws and internal policies (a deontological, or duty-based, approach). In contrast, a Code of Ethics is a broader, aspirational document that outlines the core values and moral principles (like integrity, equity, and justice) that should guide decisions and character (a virtue ethics approach). Option (d) is incorrect. It reverses the definitions. A Code of Ethics is value-driven (based on virtues and moral principles), while a Code of Conduct is more rule-based and compliance-oriented. Option (a) is incorrect. Incorrect Solution: C Option (b) is incorrect. This also presents a reversal of the actual definitions. A Code of Ethics deals with the broader moral philosophy, while a Code of Conduct is the actionable document that lists specific expected behaviours and prohibitions. Option (c) is correct. It accurately captures the core difference. A Code of Conduct is a set of specific rules and guidelines that an individual or organization must follow, often focusing on compliance with laws and internal policies (a deontological, or duty-based, approach). In contrast, a Code of Ethics is a broader, aspirational document that outlines the core values and moral principles (like integrity, equity, and justice) that should guide decisions and character (a virtue ethics approach). Option (d) is incorrect. It reverses the definitions. A Code of Ethics is value-driven (based on virtues and moral principles), while a Code of Conduct is more rule-based and compliance-oriented. Option (a) is incorrect.

#### 7. Question

Which of the following statements best distinguishes between a Code of Conduct and a Code of Ethics?

• (a) A Code of Conduct applies only to senior management, while a Code of Ethics applies to all employees within an organization.

• (b) A Code of Conduct provides a general framework of moral philosophy, while a Code of Ethics specifies actionable behaviours.

• (c) A Code of Conduct is focused on adherence to legal and institutional rules, whereas a Code of Ethics is oriented towards guiding principles like integrity and justice.

• (d) A Code of Conduct is primarily value-driven, whereas a Code of Ethics is rule-based.

Solution: C

• Option (b) is incorrect. This also presents a reversal of the actual definitions. A Code of Ethics deals with the broader moral philosophy, while a Code of Conduct is the actionable document that lists specific expected behaviours and prohibitions.

• Option (c) is correct. It accurately captures the core difference. A Code of Conduct is a set of specific rules and guidelines that an individual or organization must follow, often focusing on compliance with laws and internal policies (a deontological, or duty-based, approach). In contrast, a Code of Ethics is a broader, aspirational document that outlines the core values and moral principles (like integrity, equity, and justice) that should guide decisions and character (a virtue ethics approach).

• Option (d) is incorrect. It reverses the definitions. A Code of Ethics is value-driven (based on virtues and moral principles), while a Code of Conduct is more rule-based and compliance-oriented.

• Option (a) is incorrect.

Solution: C

• Option (a) is incorrect.

• Question 8 of 10 8. Question 1 points Which of the following is/are regulatory powers available to SEBI under Indian law? 1. Banning entities from accessing the securities market 2. Impounding of proceeds from fraudulent transactions 3. Mandating algorithmic trading approval before deployment Select the correct answer using the code below: a) 1 and 3 only b) 2 and 3 only c) 1 and 2 only d) 1, 2 and 3 Correct Solution: D SEBI, under the SEBI Act, 1992 and various associated regulations, wields extensive regulatory powers to ensure market integrity and protect investor interests. First, Section 11(4)(d) of the SEBI Act empowers SEBI to impound and retain proceeds of transactions that are deemed fraudulent or violative of securities laws. Second, under Section 11B, SEBI can restrict entities from accessing the securities market or prohibit them from buying, selling, or otherwise dealing in securities, either pending investigation or as a punitive measure. Third, SEBI has increasingly exercised control over algorithmic or high-frequency trading by issuing circulars and operational guidelines which require mandatory approval of algorithmic trading systems before deployment, especially for brokers and market participants. This ensures that automated systems do not manipulate market prices or create unfair trading environments. Incorrect Solution: D SEBI, under the SEBI Act, 1992 and various associated regulations, wields extensive regulatory powers to ensure market integrity and protect investor interests. First, Section 11(4)(d) of the SEBI Act empowers SEBI to impound and retain proceeds of transactions that are deemed fraudulent or violative of securities laws. Second, under Section 11B, SEBI can restrict entities from accessing the securities market or prohibit them from buying, selling, or otherwise dealing in securities, either pending investigation or as a punitive measure. Third, SEBI has increasingly exercised control over algorithmic or high-frequency trading by issuing circulars and operational guidelines which require mandatory approval of algorithmic trading systems before deployment, especially for brokers and market participants. This ensures that automated systems do not manipulate market prices or create unfair trading environments.

#### 8. Question

Which of the following is/are regulatory powers available to SEBI under Indian law?

1.Banning entities from accessing the securities market 2. Impounding of proceeds from fraudulent transactions 3. Mandating algorithmic trading approval before deployment

Select the correct answer using the code below:

• a) 1 and 3 only

• b) 2 and 3 only

• c) 1 and 2 only

• d) 1, 2 and 3

Solution: D

• SEBI, under the SEBI Act, 1992 and various associated regulations, wields extensive regulatory powers to ensure market integrity and protect investor interests.

• First, Section 11(4)(d) of the SEBI Act empowers SEBI to impound and retain proceeds of transactions that are deemed fraudulent or violative of securities laws.

• Second, under Section 11B, SEBI can restrict entities from accessing the securities market or prohibit them from buying, selling, or otherwise dealing in securities, either pending investigation or as a punitive measure.

• Third, SEBI has increasingly exercised control over algorithmic or high-frequency trading by issuing circulars and operational guidelines which require mandatory approval of algorithmic trading systems before deployment, especially for brokers and market participants. This ensures that automated systems do not manipulate market prices or create unfair trading environments.

Solution: D

• SEBI, under the SEBI Act, 1992 and various associated regulations, wields extensive regulatory powers to ensure market integrity and protect investor interests.

• First, Section 11(4)(d) of the SEBI Act empowers SEBI to impound and retain proceeds of transactions that are deemed fraudulent or violative of securities laws.

• Question 9 of 10 9. Question 1 points Which of the following best explains why consumption-based Gini coefficients may underestimate inequality in India? a) Middle-class consumption distorts income measurement b) Wealth and income of the poor are overestimated c) The rich save more and report less consumption d) Consumption surveys include agricultural income only Correct Solution: C Consumption-based Gini coefficients may underestimate actual inequality in India primarily because wealthier individuals tend to consume a smaller proportion of their income and often underreport consumption in surveys. Unlike the poor, who typically spend nearly all their income on basic necessities, the rich save a substantial portion and have diversified spending that may go unreported or be underrepresented in household surveys. Additionally, high-income households are less likely to participate fully in consumption surveys or may understate expenditures on luxury goods and services. This creates a bias where the consumption data appears more equal than the underlying income or wealth distribution. As a result, consumption-based measures tend to flatten the inequality curve, especially when compared to income-based Gini coefficients, which better reflect the disparities. Incorrect Solution: C Consumption-based Gini coefficients may underestimate actual inequality in India primarily because wealthier individuals tend to consume a smaller proportion of their income and often underreport consumption in surveys. Unlike the poor, who typically spend nearly all their income on basic necessities, the rich save a substantial portion and have diversified spending that may go unreported or be underrepresented in household surveys. Additionally, high-income households are less likely to participate fully in consumption surveys or may understate expenditures on luxury goods and services. This creates a bias where the consumption data appears more equal than the underlying income or wealth distribution. As a result, consumption-based measures tend to flatten the inequality curve, especially when compared to income-based Gini coefficients, which better reflect the disparities.

#### 9. Question

Which of the following best explains why consumption-based Gini coefficients may underestimate inequality in India?

• a) Middle-class consumption distorts income measurement

• b) Wealth and income of the poor are overestimated

• c) The rich save more and report less consumption

• d) Consumption surveys include agricultural income only

Solution: C

• Consumption-based Gini coefficients may underestimate actual inequality in India primarily because wealthier individuals tend to consume a smaller proportion of their income and often underreport consumption in surveys.

• Unlike the poor, who typically spend nearly all their income on basic necessities, the rich save a substantial portion and have diversified spending that may go unreported or be underrepresented in household surveys.

• Additionally, high-income households are less likely to participate fully in consumption surveys or may understate expenditures on luxury goods and services. This creates a bias where the consumption data appears more equal than the underlying income or wealth distribution.

• As a result, consumption-based measures tend to flatten the inequality curve, especially when compared to income-based Gini coefficients, which better reflect the disparities.

Solution: C

• As a result, consumption-based measures tend to flatten the inequality curve, especially when compared to income-based Gini coefficients, which better reflect the disparities.

• Question 10 of 10 10. Question 1 points Consider the following statements regarding the implementation of the PM-POSHAN scheme: The scheme encourages the setting up of nutrition gardens in schools to supplement the meals with fresh produce. A social audit mechanism is a key feature to ensure transparency and community participation. The scheme is implemented in convergence with the Poshan Abhiyan to ensure holistic child development. Which of the above statements are correct? (a) 1 and 2 only (b) 1 and 3 only (c) 2 and 3 only (d) 1, 2 and 3 Correct Solution: D Statement 1 is correct. The scheme actively promotes the development of “nutrition gardens” or “school gardens” on school premises. This initiative is intended to provide children with fresh and nutritious vegetables and fruits, supplementing their hot cooked meals while also serving as a practical learning experience about agriculture and nutrition. Statement 2 is correct. To enhance accountability and public oversight, the scheme mandates a social audit. This process involves community members, parents, and local bodies in verifying the implementation of the scheme, checking the quality and quantity of food, and ensuring that entitlements are being delivered as per norms. Statement 3 is correct. The PM-POSHAN scheme does not operate in isolation. It is strategically linked with other national missions to create a comprehensive framework for child welfare. Its implementation is tied to the Samagra Shiksha Abhiyan for educational integration and the Poshan Abhiyan (National Nutrition Mission) to address the overall nutritional status of children in a holistic manner. Incorrect Solution: D Statement 1 is correct. The scheme actively promotes the development of “nutrition gardens” or “school gardens” on school premises. This initiative is intended to provide children with fresh and nutritious vegetables and fruits, supplementing their hot cooked meals while also serving as a practical learning experience about agriculture and nutrition. Statement 2 is correct. To enhance accountability and public oversight, the scheme mandates a social audit. This process involves community members, parents, and local bodies in verifying the implementation of the scheme, checking the quality and quantity of food, and ensuring that entitlements are being delivered as per norms. Statement 3 is correct. The PM-POSHAN scheme does not operate in isolation. It is strategically linked with other national missions to create a comprehensive framework for child welfare. Its implementation is tied to the Samagra Shiksha Abhiyan for educational integration and the Poshan Abhiyan (National Nutrition Mission) to address the overall nutritional status of children in a holistic manner.

#### 10. Question

Consider the following statements regarding the implementation of the PM-POSHAN scheme:

• The scheme encourages the setting up of nutrition gardens in schools to supplement the meals with fresh produce.

• A social audit mechanism is a key feature to ensure transparency and community participation.

• The scheme is implemented in convergence with the Poshan Abhiyan to ensure holistic child development.

Which of the above statements are correct?

• (a) 1 and 2 only

• (b) 1 and 3 only

• (c) 2 and 3 only

• (d) 1, 2 and 3

Solution: D

• Statement 1 is correct. The scheme actively promotes the development of “nutrition gardens” or “school gardens” on school premises. This initiative is intended to provide children with fresh and nutritious vegetables and fruits, supplementing their hot cooked meals while also serving as a practical learning experience about agriculture and nutrition.

• Statement 2 is correct. To enhance accountability and public oversight, the scheme mandates a social audit. This process involves community members, parents, and local bodies in verifying the implementation of the scheme, checking the quality and quantity of food, and ensuring that entitlements are being delivered as per norms.

Statement 3 is correct. The PM-POSHAN scheme does not operate in isolation. It is strategically linked with other national missions to create a comprehensive framework for child welfare. Its implementation is tied to the Samagra Shiksha Abhiyan for educational integration and the Poshan Abhiyan (National Nutrition Mission) to address the overall nutritional status of children in a holistic manner.

Solution: D

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