1. Who was elected as the new President of the Institute of Chartered Accountants of India (ICAI) recently?
(a) Ravindra Holani
(b) Dinal A. Shah
(c) G. Ramaswamy*
(d) Pankaj Tyagee
(e) T.V. Somanathan

Answer 1:
The CA institute has a new President in G. Ramaswamy. A fellow member of the Institute of Chartered Accountants of India (ICAI), Ramaswamy was on February 12, 2011 elected President of the institute for the next 12 months. Prior to this, Ramaswamy was Vice-President of ICAI. A practicing chartered accountant since 1984, Ramaswamy is also a fellow member of the Institute of Company Secretaries of India (ICSI). Jaydeep N Shah, currently a central council member, was elected as Vice-President. Shah is currently the Chairman of Financial Reporting & Review Board of India (FRRB). He is also chairman of the ethical standards board of ICAI.

2. Which of the following statements about the International Mother Language Day started by UNESCO is/are correct?
I. It was observed on February 21, 2011
II. The date represents the day when languages other than English were accepted for official use at the UN
III. It was first observed in 2000
(a) I only
(b) I and II only
(c) II only
(d) III and I only*
(e) I, II and III

Answer 2:
International Mother Language Day has been observed every year on February 21, since 2000 to promote linguistic & cultural diversity and multilingualism. The date represents the day in 1952 when students demonstrating for recognition of their language, Bangla, as one of the two national languages of the then Pakistan, were shot and killed by police in Dhaka, the capital of what is now Bangladesh. According to a UN report, half of the world’s 6,000 languages are now endangered.

3. Dr. Ajay Parida was selected for the prestigious TATA Innovation Fellowship recently. He is known for research in which field?
(a) Astronomy
(b) Renewable energy
(c) Cardiology
(d) Biotechnology*
(e) Low-cost housing

Answer 3:
Ajay Parida, Executive Director, M. S. Swaminathan Research Foundation, has been selected for the prestigious TATA Innovation Fellowship of the Department of Biotechnology, Government of India. Dr. Parida would receive Rs. 20,000 a month, in addition to the regular salary, and a contingency grant of Rs. 5 lakh a year initially for three years.

4. Which airport in India has been rated as the best in the world in the 5 million to 15 million passengers per annum category by the Airport Council International recently?
(a) Indira Gandhi International Airport, New Delhi
(b) Bengaluru International Airport
(c) Rajiv Gandhi International Airport, Hyderabad *
(d) Chhatrapati Shivaji International Airport, Mumbai
(e) None of the above

Answer 4:
New Delhi’s Indira Gandhi International Airport has been ranked the fourth best airport in the world in the 25 million to 40 million passengers per annum category, according to the 2010 Airport Service Quality (ASQ) rankings of Airport Council International. Overall its ranking has improved from the 32nd best airport in the world in 2009 to 12th best.
Hyderabad’s Rajiv Gandhi International Airport has been ranked No. 1 in the ASQ rankings in the 5 million to 15 million passengers per annum category for the second consecutive year.
The Chhatrapati Shivaji International Airport (CSIA), Mumbai was rated the second best airport worldwide for airports in the 15-25-million passengers per annum (mppa) category.
A total of 153 airports took part in this survey including six Indian airports. Seoul Incheon airport has topped the 25-40 million passengers per annum category followed by Singapore and Shanghai Pudong.

5. Which of the following statements about trade relations between India and Malaysia is/are correct?
I. India and Malaysia have signed a Comprehensive Economic Cooperation Agreement (CECA)
II. Malaysia is India’s largest trading partner amongst the ASEAN countries
III. Malaysia has decided to allow upto 100% FDI in key sectors of interest to India such as computer & related services and management & consultancy services
(a) I only
(b) I and II only
(c) I and III only*
(d) II and III only
(e) I, II and III

Answer 5:
Anand Sharma, Union Minister of Commerce & Industry and Mustapa Mohamed, Minister for International Trade & Industry, Malaysia, signed the India-Malaysia Comprehensive Economic Cooperation Agreement (CECA) in the presence of Malaysian Prime Minister, Mohd Najib Razak at Putrajaya in Kuala Lumpur on February 18, 2011. The Agreement will come into effect on July 1, 2011 and the first review will be held within a year of coming into force.

The India-Malaysia CECA is a comprehensive and ambitious agreement that envisages liberal trade in goods and services and a stable and competitive investment regime to promote foreign investment between the two countries. The goods package under the CECA takes the tariff liberalization beyond the India-ASEAN FTA commitments on items of mutual interest for both the countries.

Malaysia has offered comparatively higher level of FDI in key sectors of interest to India such as construction services (51%), computer and related services (100%), management and consultancy services (100%). This is a breakthrough in investments, given that Malaysia has a Bhoomiputra policy which mandates 30% equity participation by local companies.

Malaysia is the 3rd largest trading partner of India amongst the ASEAN (Association of South East Asian Nations) countries. India-Malaysia trade increased from US $ 3.52 billion to US $ 9.03 billion between 2005 and 2010 after reaching a peak of US $ 10.65 billion in 2008.

6. Which of the following is the densest city in Asia as per the Asian Green City Index unveiled recently?
(a) Mumbai*
(b) Chennai
(c) Delhi
(d) Kolkata
(e) Bangalore

Answer 6:
As many as 27,000 people live per square km in Mumbai, making the metro one of the densest cities in Asia, as per the Asian Green City Index unveiled in February 2011. The Asian Green City Index, commissioned by German firm Siemens, analysed the environmental sustainability of 22 major cities in Asia with respect to environmental and climate protection. Three other Indian cities — Delhi, Kolkata and Bangalore — have also been featured in the report. The Asian Green City Index examines the environmental performance of 22 major Asian cities in eight categories: energy and CO2; land use and buildings; transport; waste; water; sanitation; air quality; and environmental governance.

7. ‘Emerging Risks, Daring Solutions’ was the theme of 13th global conference of _________ organised in Mumbai recently?
(a) Company Secretaries
(b) Auditors
(c) Chartered Accountants
(d) Bankers
(e) Actuaries*

Answer 7:
The Institute of Actuaries of India (IAI) organised the 13th global conference on actuaries in Mumbai on February 21-22, 2011. The theme of the two-day summit was ‘Emerging Risks, Daring Solutions’. It was addressed by a host of insurance and pension regulators from across the world. An actuary is a business professional who deals with the financial impact of risk and uncertainty. Actuaries provide expert assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms.

8. In which state was India’s longest rail bridge completed recently?
(a) Kerala*
(b) Gujarat
(c) Maharashtra
(d) Bihar
(e) Karnataka

Answer 8:
Scenic Kerala backwaters can now boast of an engineering marvel—the longest rail bridge in the country at 4.62 km. The bridge, inaugurated in February 2011, is part of an 8.6-km railway line project, connecting Idapalli to Vallarpadam in Kochi, where the International Container Transshipment Terminal (ICTT) has been constructed by the shipping ministry. Constructed by the Rail Vikas Nigam Ltd (RVNL) at a cost of Rs 200 crore, it was built in record 28 months. The project, which will serve as the first SEZ port in the country, will eliminate transshipment of goods from Colombo port to Indian ports. Mega mother ships and Panamax vessels can directly reach Vallarpadam. It will also save the cost of transportation by $300 per container, making export and import cheaper.

9. February 12 to 18, 2011 was observed as which of the following?
(a) Oil Conservation Week
(b) National Nutrition Week
(c) National Productivity Week*
(d) Road Safety Week
(e) Pin Code Week

Answer 9:
The National Productivity Council (NPC), under the Ministry of Commerce and Industry, organised the “National Productivity Week” from February 12 to 18, 2011. The theme for the event was “Green Productivity for Sustainable Energy and Environment”. Productivity and competitiveness are the two faces of a same coin; competitiveness of a nation is linked to the productivity growth and ability of a nation to improve its competitiveness is measured by its environmental performance in addition to more traditional economic criteria. This makes the concept of Green Productivity (GP) a simple but elegant solution - to make environmental protection a core business principle instead of an isolated cost element.

10. Which of the following started production at India’s largest naphtha cracker project recently?
(a) ONGC
(b) Essar Oil
(c) Indian Oil*
(d) Reliance Industries Ltd
(e) Oil India Ltd.

Answer 10:
India’s largest Naphtha Cracker plant was inaugurated at Indian Oil’s Panipat Complex on February 15, 2011. Tha Complex facilitates expansion of Indian Oil’s operations through downstream integration into petrochemicals. Petroleum Minister S. Jaipal Reddy also released an IOC publication entitled “Propelling into Petrochemicals for a Brighter Tomorrow” on the occasion. The Naphtha Cracker Complex built at a cost of Rs. 14,439 Crore will provide significant impetus to India’s leading Fortune-500 Company’s ambitious foray into petrochemicals.