Test Preparation

Current Affairs MCQs with Answers

Current Affairs questions can decide your result in competitive exams. Practice MCQs on recent national and international news, politics, economy, sports, awards and science. Regular practice keeps you updated and prepared for the latest test patterns.

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Q1. The State Bank of Pakistan began operations on:

  1. 14 August 1947
  2. 23 March 1956
  3. 1 January 1950
  4. 1 July 1948
Show answer and explanation

Correct answer: D. 1 July 1948

The State Bank of Pakistan was inaugurated by Quaid-e-Azam on 1 July 1948.

Q2. Pakistan's central bank is:

  1. Securities and Exchange Commission
  2. Federal Board of Revenue
  3. State Bank of Pakistan
  4. National Bank of Pakistan
Show answer and explanation

Correct answer: C. State Bank of Pakistan

The State Bank of Pakistan is the central bank and issues the currency notes.

Q3. In September 2024 the IMF approved a new Extended Fund Facility for Pakistan of about:

  1. US$ 12 billion
  2. US$ 7 billion
  3. US$ 1 billion
  4. US$ 3 billion
Show answer and explanation

Correct answer: B. US$ 7 billion

The IMF Executive Board approved a 37-month, roughly US$7 billion EFF for Pakistan in September 2024.

Q4. The Pakistan Stock Exchange (PSX) was formed in 2016 by the merger of the stock exchanges of:

  1. Karachi, Quetta and Peshawar
  2. Karachi, Lahore and Islamabad
  3. Lahore, Multan and Faisalabad
  4. Islamabad, Peshawar and Lahore
Show answer and explanation

Correct answer: B. Karachi, Lahore and Islamabad

PSX was created by integrating the Karachi, Lahore and Islamabad stock exchanges.

Q5. The Benazir Income Support Programme (BISP) was launched in:

  1. 2013
  2. 2019
  3. 1998
  4. 2008
Show answer and explanation

Correct answer: D. 2008

BISP, Pakistan's main cash-transfer safety-net programme, started in 2008.

Q6. The official currency of Pakistan is issued by:

  1. Federal Board of Revenue
  2. Pakistan Mint only
  3. Ministry of Finance
  4. State Bank of Pakistan
Show answer and explanation

Correct answer: D. State Bank of Pakistan

Currency notes are issued by the State Bank of Pakistan.

Q7. China-Pakistan Economic Corridor (CPEC) was formally launched during the visit of President Xi Jinping to Pakistan in:

  1. 2008
  2. 2015
  3. 2019
  4. 2011
Show answer and explanation

Correct answer: B. 2015

CPEC was launched in April 2015 with agreements worth about US$46 billion at the time.

Q8. Gwadar Port is located in the province of:

  1. Punjab
  2. Khyber Pakhtunkhwa
  3. Balochistan
  4. Sindh
Show answer and explanation

Correct answer: C. Balochistan

Gwadar is a deep-sea port on the Arabian Sea coast of Balochistan.

Q9. Which institution of Pakistan was established in 2000 to register citizens and issue CNICs?

  1. FIA
  2. PTA
  3. NADRA
  4. NAB
Show answer and explanation

Correct answer: C. NADRA

The National Database and Registration Authority (NADRA) was set up in 2000.

Q10. The National Accountability Bureau (NAB) was established in:

  1. 2008
  2. 1985
  3. 1990
  4. 1999
Show answer and explanation

Correct answer: D. 1999

NAB was created in 1999 through the National Accountability Ordinance.

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