How Much You Know About World Bank and IMF?
The World Bank and the IMF form the backbone of the world's financial and monetary system. Play this informative quiz and see how much you know about the World Bank and IMF. Both these institutions were created in the 20th century for the reconstruction and development of war-ravaged Europe. Do you know what reports are given by these institutions? Which conference led to the formation of these two institutions? If you find the quiz informative, share it with your friends. All the best!
- 1.
Which conference established the International Monetary Fund (IMF) and the World Bank?
- A.
Bretton Woods
- B.
Paris conference
- C.
London Conference
- D.
Moscow Conference
Correct Answer
A. Bretton WoodsExplanation
The correct answer is Bretton Woods. The Bretton Woods Conference, held in 1944 in Bretton Woods, New Hampshire, established the International Monetary Fund (IMF) and the World Bank. This conference aimed to create a framework for international economic cooperation after World War II and address issues such as currency exchange rates and financial stability. The IMF and World Bank were created to promote global monetary cooperation, provide financial assistance to member countries, and support economic development.Rate this question:
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- 2.
Which of the following organizations does not come from a part of the World Bank Group?
- A.
International Finance Corporation (IFC)
- B.
International Development Association (IDA)
- C.
Multilateral Guarantee Agency (MIGA
- D.
World Economic Forum
Correct Answer
D. World Economic ForumExplanation
The World Economic Forum is not part of the World Bank Group. The World Bank Group consists of the International Finance Corporation (IFC), the International Development Association (IDA), and the Multilateral Guarantee Agency (MIGA). The World Economic Forum is a separate international organization that is not affiliated with the World Bank Group.Rate this question:
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- 3.
Which of the following report is released by IMF?
- A.
Global Gender Gap Report
- B.
Industrial Development Report
- C.
Global Financial Stability Report
- D.
Global Financial System Report
Correct Answer
C. Global Financial Stability ReportExplanation
The correct answer is the Global Financial Stability Report. The IMF releases this report to assess and analyze the stability of the global financial system. It provides an overview of potential risks and vulnerabilities in the global economy and offers policy recommendations to promote financial stability. This report is crucial for policymakers, financial institutions, and investors to understand the current state of the global financial system and take appropriate measures to mitigate risks.Rate this question:
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- 4.
Where is the headquarters of the IMF?
- A.
Washington, DC
- B.
New York
- C.
Paris
- D.
London
Correct Answer
A. Washington, DCExplanation
The headquarters of the IMF is located in Washington, DC.Rate this question:
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- 5.
IMF and the World Bank had ______ original member states.
- A.
24
- B.
54
- C.
44
- D.
90
Correct Answer
C. 44Explanation
The correct answer is 44 because when the IMF (International Monetary Fund) and the World Bank were established in 1944, they had a total of 44 original member states. These member states were the founding countries that agreed to join and support the organizations' goals and missions.Rate this question:
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- 6.
Which development institution under the World Bank Group provides low or interest-free loans to poor countries?
- A.
Multilateral Guarantee Agency (MIGA)
- B.
International Development Association (IDA)
- C.
International Centre for the Settlement of Investment Disputes (ICSID)
- D.
International Finance Corporation (IFC)
Correct Answer
B. International Development Association (IDA)Explanation
The International Development Association (IDA) provides low or interest-free loans to poor countries. It is a development institution under the World Bank Group that focuses on supporting the world's poorest countries by providing them with financial resources and technical assistance. The IDA aims to promote economic growth, reduce poverty, and improve living conditions in these countries by offering concessional loans and grants. Through its programs and initiatives, the IDA helps these countries access the financing they need to invest in development projects and achieve sustainable development outcomes.Rate this question:
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- 7.
How is the International Monetary Fund (IMF) primarily funded?
- A.
Contributions by the United Nations
- B.
Contributions by the Western Countries
- C.
Contributions by member countries according to defined quotas
- D.
Contributions by member countries according to their wishes
Correct Answer
C. Contributions by member countries according to defined quotasExplanation
The International Monetary Fund (IMF) is primarily funded through contributions made by member countries according to defined quotas. These quotas are determined based on each country's economic size and importance in the global economy. Member countries are required to contribute a certain amount of funds to the IMF's resources, which are then used to provide financial assistance to countries facing economic difficulties. This funding mechanism ensures that the IMF has the necessary resources to fulfill its mandate of promoting global monetary cooperation, stability, and sustainable economic growth.Rate this question:
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- 8.
Which of the following report is not published by World Bank?
- A.
Global Economic Prospects
- B.
The Global Report
- C.
World Development Indicators
- D.
International Debt Statistics
Correct Answer
B. The Global ReportExplanation
The Global Report is not published by the World Bank. This can be inferred from the question, which asks for the report that is not published by the World Bank. The other three options, Global Economic Prospects, World Development Indicators, and International Debt Statistics, are all reports that are published by the World Bank. Therefore, the correct answer is The Global Report.Rate this question:
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- 9.
The United States has the largest share of votes in IMF decisions. Which country has the second-largest share?
- A.
China
- B.
Japan
- C.
Germany
- D.
India
Correct Answer
B. JapanExplanation
Japan has the second-largest share of votes in IMF decisions. While the United States holds the largest share, Japan holds the second-largest share, indicating its significant influence in decision-making within the International Monetary Fund.Rate this question:
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- 10.
Where is the headquarter of World Bank?
- A.
Brussels
- B.
London
- C.
Paris
- D.
Washington, D.C.
Correct Answer
D. Washington, D.C.Explanation
The headquarters of the World Bank is located in Washington, D.C. This is the correct answer because Washington, D.C. is the capital of the United States and is where the World Bank is based.Rate this question:
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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Nov 16, 2023Quiz Edited by
ProProfs Editorial Team -
May 26, 2023Quiz Created by
Amit Mangal
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