Q.1 What does IMF stand for?
International Monetary Fund
International Money Forum
International Market Federation
International Monetary Federation
Explanation - The IMF is short for International Monetary Fund, a global organization that promotes financial stability and monetary cooperation.
Correct answer is: International Monetary Fund
Q.2 Which organization is sometimes called the 'World Bank Group'?
International Monetary Fund
World Bank
World Trade Organization
United Nations Development Programme
Explanation - The World Bank Group is the collection of institutions that provide loans and grants to developing countries for development projects.
Correct answer is: World Bank
Q.3 The IMF mainly provides financial assistance to countries facing:
Trade disputes
Balance of payments problems
Natural disasters
Educational reforms
Explanation - The IMF helps member countries overcome short-term balance of payments difficulties.
Correct answer is: Balance of payments problems
Q.4 Which of these is a primary goal of the World Bank?
Short-term currency stabilization
Global military support
Long-term poverty reduction
Supervision of global trade rules
Explanation - The World Bank focuses on long-term development projects to reduce poverty and support economic growth.
Correct answer is: Long-term poverty reduction
Q.5 Which institution has 'Special Drawing Rights (SDRs)' as one of its tools?
World Bank
International Monetary Fund
World Trade Organization
Asian Development Bank
Explanation - The IMF issues SDRs, an international reserve asset, to supplement member countries’ reserves.
Correct answer is: International Monetary Fund
Q.6 The International Development Association (IDA) is part of which institution?
IMF
World Bank Group
WTO
OECD
Explanation - The IDA is the concessional lending arm of the World Bank Group, offering low-interest loans to the poorest countries.
Correct answer is: World Bank Group
Q.7 Which of the following is NOT a function of the IMF?
Providing short-term loans
Monitoring global economies
Financing long-term infrastructure projects
Issuing Special Drawing Rights
Explanation - Long-term development financing is the role of the World Bank, not the IMF.
Correct answer is: Financing long-term infrastructure projects
Q.8 Where are the headquarters of both IMF and World Bank located?
New York
London
Washington D.C.
Geneva
Explanation - Both the IMF and the World Bank are headquartered in Washington D.C., USA.
Correct answer is: Washington D.C.
Q.9 The World Bank was originally established to help in the reconstruction of:
Asia after natural disasters
Europe after World War II
Latin America after debt crises
Africa after colonization
Explanation - The World Bank was initially created to finance Europe’s reconstruction after WWII before shifting focus to global development.
Correct answer is: Europe after World War II
Q.10 Which country has the largest voting power in both IMF and World Bank?
China
Japan
United States
Germany
Explanation - The U.S. is the largest shareholder, giving it significant voting power in both IMF and World Bank decisions.
Correct answer is: United States
Q.11 The Bretton Woods Conference of 1944 led to the creation of:
WTO and NATO
IMF and World Bank
UNESCO and WHO
GATT and OECD
Explanation - The Bretton Woods Conference established the IMF and the World Bank to stabilize the post-war global economy.
Correct answer is: IMF and World Bank
Q.12 Which of the following is part of the World Bank Group?
IMF
International Finance Corporation (IFC)
WTO
UNICEF
Explanation - The IFC is one of the five institutions under the World Bank Group, focusing on private sector development.
Correct answer is: International Finance Corporation (IFC)
Q.13 What type of loans does the IDA of the World Bank provide?
Commercial loans
Low-interest or interest-free loans
Only grants
Military loans
Explanation - The IDA provides concessional loans to the world’s poorest countries, often with very low or no interest.
Correct answer is: Low-interest or interest-free loans
Q.14 Which institution is sometimes called the 'lender of last resort'?
World Bank
IMF
WTO
OECD
Explanation - The IMF is considered the lender of last resort for countries facing severe financial crises.
Correct answer is: IMF
Q.15 The World Bank focuses more on:
Short-term liquidity
Long-term economic development
Exchange rate stability
Trade negotiations
Explanation - Unlike the IMF, the World Bank’s mandate emphasizes financing projects that foster long-term growth and poverty reduction.
Correct answer is: Long-term economic development
Q.16 Which organization oversees the international monetary system?
World Bank
IMF
WTO
OECD
Explanation - The IMF monitors the global monetary system and exchange rate policies of its members.
Correct answer is: IMF
Q.17 How many member countries does the IMF approximately have?
50
100
190
250
Explanation - The IMF has 190 member countries (as of recent data), nearly universal membership.
Correct answer is: 190
Q.18 Which financial institution provides technical assistance and policy advice besides loans?
IMF
World Bank
Both IMF and World Bank
Neither
Explanation - Both institutions not only provide funding but also policy guidance and technical support to member nations.
Correct answer is: Both IMF and World Bank
Q.19 Which of the following is an affiliate of the World Bank Group?
International Criminal Court
International Centre for Settlement of Investment Disputes (ICSID)
World Trade Organization
International Labour Organization
Explanation - ICSID, part of the World Bank Group, helps resolve international investment disputes.
Correct answer is: International Centre for Settlement of Investment Disputes (ICSID)
Q.20 What type of assistance is primarily offered by the IMF?
Short-term financial aid
Infrastructure financing
Educational grants
Environmental projects
Explanation - The IMF focuses on short-term loans to stabilize economies in crisis.
Correct answer is: Short-term financial aid
Q.21 Which World Bank Group institution focuses on promoting private investment?
IDA
IFC
IMF
ICSID
Explanation - The International Finance Corporation (IFC) supports private sector development by providing loans and equity.
Correct answer is: IFC
Q.22 Which currency is most influential in IMF quota and voting rights?
Yen
Euro
U.S. Dollar
Pound Sterling
Explanation - IMF quotas are largely influenced by the economic size of countries, with the U.S. dollar being central.
Correct answer is: U.S. Dollar
Q.23 The primary mission of the IMF is to ensure:
Global infrastructure development
Stability of the international monetary system
Poverty reduction projects
Trade dispute resolution
Explanation - The IMF’s mission is to safeguard monetary stability and provide short-term balance of payments support.
Correct answer is: Stability of the international monetary system
Q.24 Which of the following is NOT part of the World Bank Group?
International Bank for Reconstruction and Development (IBRD)
International Development Association (IDA)
International Monetary Fund (IMF)
International Finance Corporation (IFC)
Explanation - The IMF is a separate institution; the World Bank Group includes IBRD, IDA, IFC, MIGA, and ICSID.
Correct answer is: International Monetary Fund (IMF)
Q.25 When countries join the IMF, they contribute money called:
Quotas
Tariffs
Bonds
Grants
Explanation - IMF members pay quotas based on their economic size, which determines their financial contribution and voting power.
Correct answer is: Quotas