January 01-02 2024 Current Affairs MCQs
- These Current Affairs MCQs are based on PMF IAS Daily Current Affairs.
- The daily current affairs are uploaded every day by 8 PM. You can read the Daily Current Affairs from here.
- Subscribers of the “Current Affairs” course can Download Daily Current Affairs in PDF/DOC from here.
[Quiz] Daily Current Affairs MCQs – January 01-02 2024
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These MCQs are based on PMF IAS Daily Current Affairs. The daily current affairs are uploaded every day by 8 PM. You can read the Daily Current Affairs from here. Subscribers of the “Current Affairs” course can Download Daily Current Affairs in PDF/DOC from here.
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Question 1 of 7
1. Question
Q1. {MH – Events} Consider the following statements:
- Kharsawan Massacre is labelled as Independant India’s ‘Jallianwala Bagh’.
- Most Adivasis of Kharsawan didn’t support their merger with Odisha and wanted to merge with Bihar.
- Jaipal Singh Munda was the founder President of Adivasi Maha Sabha.
- During Praja Mandal Movement, the Rural Middle Class organised themselves into Praja-Parishads or Praja Mandals with nationalistic ideas emerging in princely states.
How many of the above statement(s) is/are correct?
Correct
Explanation
Statement 1 is correct
- On January 1, 1948, the town of Kharsawan in present-day Jharkhand witnessed a massacre reminiscent of what happened in Jallianwala Bagh in 1919. Police opened fire at a crowd gathered for a protest and the weekly haat (market), killing hundreds, or by some accounts, thousands of Adivasis.
- There was a well near the spot where the massacre took place and the police started disposing of dead bodies in it. After the well was filled with bodies, the rest were taken to the jungle and dumped there.
Statement 2 is incorrect
- At the time of Independence, Kharsawan, alongside 24 other princely states in eastern India, decided to accede to the Union of India and join the state of Orissa.
- Most Adivasis wanted a separate Adivasi state and did not support their merger with Odisha, nor did they want to merge with Bihar.
Statement 3 is correct
- In 1912, the demand for a separate tribal state was raised for the first time in Jharkhand.
- This demand gained momentum, with the Simon Commission acknowledging the distinct nature of the region in 1930.
- In 1938, the Adivasi Mahasabha, led by prominent leader Jaipal Singh Munda, was established to further this cause.
- This opposition and protest were part of the Praja Mandal movement.
Statement 4 is incorrect
- The Urban Middle Class organised themselves into Praja-Parishads or Praja Mandals with nationalistic ideas emerging in princely states.
- The protestors were involved in Constructive programs such as Establishing schools, Promoting the use of Khadi and encouraging cottage industries, Agitation against untouchability in States.
Answer: (b) Only two; Difficulty Level: Medium
Incorrect
Explanation
Statement 1 is correct
- On January 1, 1948, the town of Kharsawan in present-day Jharkhand witnessed a massacre reminiscent of what happened in Jallianwala Bagh in 1919. Police opened fire at a crowd gathered for a protest and the weekly haat (market), killing hundreds, or by some accounts, thousands of Adivasis.
- There was a well near the spot where the massacre took place and the police started disposing of dead bodies in it. After the well was filled with bodies, the rest were taken to the jungle and dumped there.
Statement 2 is incorrect
- At the time of Independence, Kharsawan, alongside 24 other princely states in eastern India, decided to accede to the Union of India and join the state of Orissa.
- Most Adivasis wanted a separate Adivasi state and did not support their merger with Odisha, nor did they want to merge with Bihar.
Statement 3 is correct
- In 1912, the demand for a separate tribal state was raised for the first time in Jharkhand.
- This demand gained momentum, with the Simon Commission acknowledging the distinct nature of the region in 1930.
- In 1938, the Adivasi Mahasabha, led by prominent leader Jaipal Singh Munda, was established to further this cause.
- This opposition and protest were part of the Praja Mandal movement.
Statement 4 is incorrect
- The Urban Middle Class organised themselves into Praja-Parishads or Praja Mandals with nationalistic ideas emerging in princely states.
- The protestors were involved in Constructive programs such as Establishing schools, Promoting the use of Khadi and encouraging cottage industries, Agitation against untouchability in States.
Answer: (b) Only two; Difficulty Level: Medium
Unattempted
Explanation
Statement 1 is correct
- On January 1, 1948, the town of Kharsawan in present-day Jharkhand witnessed a massacre reminiscent of what happened in Jallianwala Bagh in 1919. Police opened fire at a crowd gathered for a protest and the weekly haat (market), killing hundreds, or by some accounts, thousands of Adivasis.
- There was a well near the spot where the massacre took place and the police started disposing of dead bodies in it. After the well was filled with bodies, the rest were taken to the jungle and dumped there.
Statement 2 is incorrect
- At the time of Independence, Kharsawan, alongside 24 other princely states in eastern India, decided to accede to the Union of India and join the state of Orissa.
- Most Adivasis wanted a separate Adivasi state and did not support their merger with Odisha, nor did they want to merge with Bihar.
Statement 3 is correct
- In 1912, the demand for a separate tribal state was raised for the first time in Jharkhand.
- This demand gained momentum, with the Simon Commission acknowledging the distinct nature of the region in 1930.
- In 1938, the Adivasi Mahasabha, led by prominent leader Jaipal Singh Munda, was established to further this cause.
- This opposition and protest were part of the Praja Mandal movement.
Statement 4 is incorrect
- The Urban Middle Class organised themselves into Praja-Parishads or Praja Mandals with nationalistic ideas emerging in princely states.
- The protestors were involved in Constructive programs such as Establishing schools, Promoting the use of Khadi and encouraging cottage industries, Agitation against untouchability in States.
Answer: (b) Only two; Difficulty Level: Medium
-
Question 2 of 7
2. Question
Q2. {Prelims – In News} Project Kusha, sometimes seen in the news is related to which of the following?
Correct
Explanation
- Project Kusha is the India’s indigenous air defence system to develop Long-Range Surface-to-Air Missiles (LR-SAM).
- The project aims to equip India with a robust air defence missile system capable of detecting and neutralising incoming threats.
- The project is an initiative of the Defence Research and Development Organisation (DRDO).
- The project is jointly developed by DRDO and Israel Aerospace Industries, Israel’s major aerospace and aviation manufacturers.
- LR-SAM system
- It’s capable of detecting and destroying incoming stealth fighters, aircraft, drones, cruise missiles and precision-guided munitions at ranges up to 350 km.
- It is also capable of “reliable area air defence” with a single shot kill probability of not less than 80 percent for a single missile launch.
- The LR-SAM system will be also made capable of interacting with an integrated command and control system (IACCS).
- The IACCS is an automated air defence command and control centre that the Indian Air Force uses for controlling and monitoring air operations.
Answer: (d) India’s indigenous air defence system; Difficulty Level: Medium
Incorrect
Explanation
- Project Kusha is the India’s indigenous air defence system to develop Long-Range Surface-to-Air Missiles (LR-SAM).
- The project aims to equip India with a robust air defence missile system capable of detecting and neutralising incoming threats.
- The project is an initiative of the Defence Research and Development Organisation (DRDO).
- The project is jointly developed by DRDO and Israel Aerospace Industries, Israel’s major aerospace and aviation manufacturers.
- LR-SAM system
- It’s capable of detecting and destroying incoming stealth fighters, aircraft, drones, cruise missiles and precision-guided munitions at ranges up to 350 km.
- It is also capable of “reliable area air defence” with a single shot kill probability of not less than 80 percent for a single missile launch.
- The LR-SAM system will be also made capable of interacting with an integrated command and control system (IACCS).
- The IACCS is an automated air defence command and control centre that the Indian Air Force uses for controlling and monitoring air operations.
Answer: (d) India’s indigenous air defence system; Difficulty Level: Medium
Unattempted
Explanation
- Project Kusha is the India’s indigenous air defence system to develop Long-Range Surface-to-Air Missiles (LR-SAM).
- The project aims to equip India with a robust air defence missile system capable of detecting and neutralising incoming threats.
- The project is an initiative of the Defence Research and Development Organisation (DRDO).
- The project is jointly developed by DRDO and Israel Aerospace Industries, Israel’s major aerospace and aviation manufacturers.
- LR-SAM system
- It’s capable of detecting and destroying incoming stealth fighters, aircraft, drones, cruise missiles and precision-guided munitions at ranges up to 350 km.
- It is also capable of “reliable area air defence” with a single shot kill probability of not less than 80 percent for a single missile launch.
- The LR-SAM system will be also made capable of interacting with an integrated command and control system (IACCS).
- The IACCS is an automated air defence command and control centre that the Indian Air Force uses for controlling and monitoring air operations.
Answer: (d) India’s indigenous air defence system; Difficulty Level: Medium
-
Question 3 of 7
3. Question
Q3. {Prelims – In News} Desert Cyclone, recently seen in news is a?
Correct
Explanation
- In a mark of rising strategic ties between India and the United Arab Emirates, the militaries of both countries on Tuesday began their first joint exercise ‘Desert Cyclone’ in Mahajan, Rajasthan.
- A UAE Land Forces contingent of 45 personnel is participating in the 1st edition of the India-UAE joint military exercise.
- The Indian Army contingent comprising 45 personnel is being represented mainly by a battalion from the Mechanised Infantry Regiment.
- Aim
- To enhance interoperability in sub-conventional operations including Fighting in Built-Up Area (FIBUA) in desert/ semi desert terrain under Chapter VII of the United Nations Charter on Peacekeeping Operations. The exercise will enhance cooperation and interoperability between both sides during peacekeeping operations.
- Drills planned to be rehearsed during Exercise ‘Desert Cyclone’ include establishment of a Joint Surveillance Centre, Cordon and Search Operation, Domination of Built-Up Area and Heliborne Operations.
- The exercise will also foster collaborative partnership and help in sharing best practices between the two sides.
Answer: (b) Joint Military Exercise between India and UAE ; Difficulty: Medium
Incorrect
Explanation
- In a mark of rising strategic ties between India and the United Arab Emirates, the militaries of both countries on Tuesday began their first joint exercise ‘Desert Cyclone’ in Mahajan, Rajasthan.
- A UAE Land Forces contingent of 45 personnel is participating in the 1st edition of the India-UAE joint military exercise.
- The Indian Army contingent comprising 45 personnel is being represented mainly by a battalion from the Mechanised Infantry Regiment.
- Aim
- To enhance interoperability in sub-conventional operations including Fighting in Built-Up Area (FIBUA) in desert/ semi desert terrain under Chapter VII of the United Nations Charter on Peacekeeping Operations. The exercise will enhance cooperation and interoperability between both sides during peacekeeping operations.
- Drills planned to be rehearsed during Exercise ‘Desert Cyclone’ include establishment of a Joint Surveillance Centre, Cordon and Search Operation, Domination of Built-Up Area and Heliborne Operations.
- The exercise will also foster collaborative partnership and help in sharing best practices between the two sides.
Answer: (b) Joint Military Exercise between India and UAE ; Difficulty: Medium
Unattempted
Explanation
- In a mark of rising strategic ties between India and the United Arab Emirates, the militaries of both countries on Tuesday began their first joint exercise ‘Desert Cyclone’ in Mahajan, Rajasthan.
- A UAE Land Forces contingent of 45 personnel is participating in the 1st edition of the India-UAE joint military exercise.
- The Indian Army contingent comprising 45 personnel is being represented mainly by a battalion from the Mechanised Infantry Regiment.
- Aim
- To enhance interoperability in sub-conventional operations including Fighting in Built-Up Area (FIBUA) in desert/ semi desert terrain under Chapter VII of the United Nations Charter on Peacekeeping Operations. The exercise will enhance cooperation and interoperability between both sides during peacekeeping operations.
- Drills planned to be rehearsed during Exercise ‘Desert Cyclone’ include establishment of a Joint Surveillance Centre, Cordon and Search Operation, Domination of Built-Up Area and Heliborne Operations.
- The exercise will also foster collaborative partnership and help in sharing best practices between the two sides.
Answer: (b) Joint Military Exercise between India and UAE ; Difficulty: Medium
-
Question 4 of 7
4. Question
Q4. {S&T – ISRO} Consider the following statements with respect to X-ray Polarimeter Satellite (XPoSat):
- It is only the world’s second polarimetry mission using X-Ray after NASA’s Imaging X-ray Polarimetry Explorer (IXPE).
- XPoSat is a collaboration between the ISRO and the NASA.
- XPoSat will carry two scientific payloads in a Medium Earth orbit (MEO).
How Many of the above statement(s) are correct?
Correct
Explanation
Statement 1 is correct
- It is India’s pioneering polarimetry mission aimed at studying various dynamics of astronomical sources in extreme conditions.
- It is only the world’s second polarimetry mission using X-Ray after NASA’s Imaging X-ray Polarimetry Explorer (IXPE) that was launched in 2021.
Statement 2 is incorrect
- XPoSat is a collaboration between the ISRO and the Raman Research Institute (RRI), Bengaluru, Karnataka.
Statement 3 is incorrect
- XPoSat will carry two scientific payloads: Polarimeter Instrument in X-rays (POLIX) and X-ray Spectroscopy and Timing (SPECT) in a low Earth orbit.
- POLIX payload will enable the measurement of polarimetry parameters such as the degree and angle of polarization in the medium X-ray energy range of 8-30 keV photons originating from astronomical sources.
- SPECT payload will provide valuable timing and spectroscopic information within the energy range of 0.8-15 keV of X-ray photons.
Answer: (a) Only one ; Difficulty Level: Medium
Incorrect
Explanation
Statement 1 is correct
- It is India’s pioneering polarimetry mission aimed at studying various dynamics of astronomical sources in extreme conditions.
- It is only the world’s second polarimetry mission using X-Ray after NASA’s Imaging X-ray Polarimetry Explorer (IXPE) that was launched in 2021.
Statement 2 is incorrect
- XPoSat is a collaboration between the ISRO and the Raman Research Institute (RRI), Bengaluru, Karnataka.
Statement 3 is incorrect
- XPoSat will carry two scientific payloads: Polarimeter Instrument in X-rays (POLIX) and X-ray Spectroscopy and Timing (SPECT) in a low Earth orbit.
- POLIX payload will enable the measurement of polarimetry parameters such as the degree and angle of polarization in the medium X-ray energy range of 8-30 keV photons originating from astronomical sources.
- SPECT payload will provide valuable timing and spectroscopic information within the energy range of 0.8-15 keV of X-ray photons.
Answer: (a) Only one ; Difficulty Level: Medium
Unattempted
Explanation
Statement 1 is correct
- It is India’s pioneering polarimetry mission aimed at studying various dynamics of astronomical sources in extreme conditions.
- It is only the world’s second polarimetry mission using X-Ray after NASA’s Imaging X-ray Polarimetry Explorer (IXPE) that was launched in 2021.
Statement 2 is incorrect
- XPoSat is a collaboration between the ISRO and the Raman Research Institute (RRI), Bengaluru, Karnataka.
Statement 3 is incorrect
- XPoSat will carry two scientific payloads: Polarimeter Instrument in X-rays (POLIX) and X-ray Spectroscopy and Timing (SPECT) in a low Earth orbit.
- POLIX payload will enable the measurement of polarimetry parameters such as the degree and angle of polarization in the medium X-ray energy range of 8-30 keV photons originating from astronomical sources.
- SPECT payload will provide valuable timing and spectroscopic information within the energy range of 0.8-15 keV of X-ray photons.
Answer: (a) Only one ; Difficulty Level: Medium
-
Question 5 of 7
5. Question
Q5. {IR – UN} Consider the following statements about International Court of Justice (ICJ):
- International Court of Justice (ICJ) Judges have a fixed tenure and are not eligible for Re-election.
- The Members of the ICJ represent their governments.
- It has the jurisdiction to try individuals accused of war crimes or crimes against humanity.
- Non-UN member states can also become parties to the ICJ by ratifying the ICJ Statute.
How many of the above statement(s) is/are correct?
Correct
Explanation
Statement 1 is incorrect
- Composition of ICJ
- Total number of judges are 15, elected for a term of 9 years.
- Does not include more than one judge of any nationality to ensure broad representation.
- Manner of Election
- Elections are held every three years for 1/3rd of the seats (5 judges).
- The Judges are elected by the UN General Assembly and Security Council, that vote simultaneously, but separately.
- Polling happens through a secret ballot.
- To be elected, a candidate must receive an absolute majority of the votes in both bodies (UNSC and UNGA).
- Retiring judges are eligible for re-election.
Statement 2 is incorrect
- The Members of the Court do not represent their governments but are independent magistrates.
Statement 3 is incorrect
- It cannot suo moto take up cases. It can only take up cases when requested by the States.
- It does not have jurisdiction to try individuals accused of war crimes or crimes against humanity.
Statement 4 is correct
- States that ratify the UN Charter become parties to the ICJ Statute.
- Non-UN member states can also become parties to the ICJ by ratifying the ICJ Statute.
- India is a member.
Answer: (a) Only one; Difficulty Level: Medium
Incorrect
Explanation
Statement 1 is incorrect
- Composition of ICJ
- Total number of judges are 15, elected for a term of 9 years.
- Does not include more than one judge of any nationality to ensure broad representation.
- Manner of Election
- Elections are held every three years for 1/3rd of the seats (5 judges).
- The Judges are elected by the UN General Assembly and Security Council, that vote simultaneously, but separately.
- Polling happens through a secret ballot.
- To be elected, a candidate must receive an absolute majority of the votes in both bodies (UNSC and UNGA).
- Retiring judges are eligible for re-election.
Statement 2 is incorrect
- The Members of the Court do not represent their governments but are independent magistrates.
Statement 3 is incorrect
- It cannot suo moto take up cases. It can only take up cases when requested by the States.
- It does not have jurisdiction to try individuals accused of war crimes or crimes against humanity.
Statement 4 is correct
- States that ratify the UN Charter become parties to the ICJ Statute.
- Non-UN member states can also become parties to the ICJ by ratifying the ICJ Statute.
- India is a member.
Answer: (a) Only one; Difficulty Level: Medium
Unattempted
Explanation
Statement 1 is incorrect
- Composition of ICJ
- Total number of judges are 15, elected for a term of 9 years.
- Does not include more than one judge of any nationality to ensure broad representation.
- Manner of Election
- Elections are held every three years for 1/3rd of the seats (5 judges).
- The Judges are elected by the UN General Assembly and Security Council, that vote simultaneously, but separately.
- Polling happens through a secret ballot.
- To be elected, a candidate must receive an absolute majority of the votes in both bodies (UNSC and UNGA).
- Retiring judges are eligible for re-election.
Statement 2 is incorrect
- The Members of the Court do not represent their governments but are independent magistrates.
Statement 3 is incorrect
- It cannot suo moto take up cases. It can only take up cases when requested by the States.
- It does not have jurisdiction to try individuals accused of war crimes or crimes against humanity.
Statement 4 is correct
- States that ratify the UN Charter become parties to the ICJ Statute.
- Non-UN member states can also become parties to the ICJ by ratifying the ICJ Statute.
- India is a member.
Answer: (a) Only one; Difficulty Level: Medium
-
Question 6 of 7
6. Question
Q6. {IE – Banking} Consider the following statements:
- Aadhaar Payments Bridge System (APBS) is a digital platform implemented by the Unique Identification Authority of India (UIDAI).
- ABPS uses the worker’s unique 12-digit Aadhaar number as their financial address.
- Aadhar Enabled Payment System (AEPS) Transactions can be carried out with only the bank name, Aadhaar number, and captured fingerprint during Aadhaar enrolment.
- Active Workers under MGNREGA are those who have worked for at least one day over the last three financial years.
How many of the above statement(s) is/are correct?
Correct
Explanation
Statement 1 is incorrect
- The Aadhaar Payments Bridge System (APBS) is a digital platform.
- It is implemented by the National Payments Corporation of India (NPCI) in collaboration with the Unique Identification Authority of India (UIDAI).
Statement 2 is correct
- ABPS uses the worker’s unique 12-digit Aadhaar number as their financial address.
- To be paid under ABPS,
- a worker’s Aadhaar details must be seeded to her job card,
- her Aadhaar details must be seeded to her bank account,
- her Aadhaar must be mapped with the National Payments Corporation of India (NCPI) database,
- and finally, the bank’s institutional identification number must itself be mapped with the NPCI database.
Statement 3 is correct
- The Aadhar Enabled Payment System (AEPS) is a bank-led model that allows online interoperable financial transactions at Point of Sale (PoS) or micro-ATMs through the Business Correspondent (BC) of any bank using the Aadhaar authentication.
- It was taken up by the National Payments Corporation of India (NPCI) – a joint initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).
- It eliminates the need for OTPs, bank account details, and other financial information.
- Transactions can be carried out with only the bank name, Aadhaar number, and captured fingerprint during Aadhaar enrolment.
Statement 4 is correct
- Active workers are those who have worked for at least one day over the last three financial years.
- Till December 27, 12.7% of these active workers are still not eligible for ABPS. Of the 25.25 crore registered workers under the flagship rural jobs scheme, 14.35 crore are categorised as active workers.
Answer: (C) Only three; Difficulty Level: Medium
Incorrect
Explanation
Statement 1 is incorrect
- The Aadhaar Payments Bridge System (APBS) is a digital platform.
- It is implemented by the National Payments Corporation of India (NPCI) in collaboration with the Unique Identification Authority of India (UIDAI).
Statement 2 is correct
- ABPS uses the worker’s unique 12-digit Aadhaar number as their financial address.
- To be paid under ABPS,
- a worker’s Aadhaar details must be seeded to her job card,
- her Aadhaar details must be seeded to her bank account,
- her Aadhaar must be mapped with the National Payments Corporation of India (NCPI) database,
- and finally, the bank’s institutional identification number must itself be mapped with the NPCI database.
Statement 3 is correct
- The Aadhar Enabled Payment System (AEPS) is a bank-led model that allows online interoperable financial transactions at Point of Sale (PoS) or micro-ATMs through the Business Correspondent (BC) of any bank using the Aadhaar authentication.
- It was taken up by the National Payments Corporation of India (NPCI) – a joint initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).
- It eliminates the need for OTPs, bank account details, and other financial information.
- Transactions can be carried out with only the bank name, Aadhaar number, and captured fingerprint during Aadhaar enrolment.
Statement 4 is correct
- Active workers are those who have worked for at least one day over the last three financial years.
- Till December 27, 12.7% of these active workers are still not eligible for ABPS. Of the 25.25 crore registered workers under the flagship rural jobs scheme, 14.35 crore are categorised as active workers.
Answer: (C) Only three; Difficulty Level: Medium
Unattempted
Explanation
Statement 1 is incorrect
- The Aadhaar Payments Bridge System (APBS) is a digital platform.
- It is implemented by the National Payments Corporation of India (NPCI) in collaboration with the Unique Identification Authority of India (UIDAI).
Statement 2 is correct
- ABPS uses the worker’s unique 12-digit Aadhaar number as their financial address.
- To be paid under ABPS,
- a worker’s Aadhaar details must be seeded to her job card,
- her Aadhaar details must be seeded to her bank account,
- her Aadhaar must be mapped with the National Payments Corporation of India (NCPI) database,
- and finally, the bank’s institutional identification number must itself be mapped with the NPCI database.
Statement 3 is correct
- The Aadhar Enabled Payment System (AEPS) is a bank-led model that allows online interoperable financial transactions at Point of Sale (PoS) or micro-ATMs through the Business Correspondent (BC) of any bank using the Aadhaar authentication.
- It was taken up by the National Payments Corporation of India (NPCI) – a joint initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).
- It eliminates the need for OTPs, bank account details, and other financial information.
- Transactions can be carried out with only the bank name, Aadhaar number, and captured fingerprint during Aadhaar enrolment.
Statement 4 is correct
- Active workers are those who have worked for at least one day over the last three financial years.
- Till December 27, 12.7% of these active workers are still not eligible for ABPS. Of the 25.25 crore registered workers under the flagship rural jobs scheme, 14.35 crore are categorised as active workers.
Answer: (C) Only three; Difficulty Level: Medium
-
Question 7 of 7
7. Question
Q7. {IE – Banking} In India, under cyber insurance for individuals, which of the following benefits are generally covered, in addition to payment for the loss of funds and other benefits?
- Cost of restoration of the computer system in case of malware disrupting access to one’s computer.
- Cost of a new computer if some miscreant wilfully damages it, if proved so.
- Cost of hiring a specialised consultant to minimise the loss in case of cyber extortion.
- Cost of defence in the Court of Law if any third-party files a suit.
Select the correct answer using the code given below:
Correct
Explanation
Statement 1,3 and 4 are correct
- Cyber insurance for individuals policies are designed to cover expenses related to post factor actions of a cyber-attack. Such as, the cost incurred during the prosecution process and defense costs are paid by the insurance company relating to the types of cyber risks mentioned in the documentation of the policy.
- Other costs such as financial losses, online loss of money suffered by the policyholder due to cyber-attacks are also covered in the policy up to the sum assured as mentioned in the policy.
- Expenses incurred for counselling treatments post a cyber-attack is also paid for including damages against third party liabilities and restoration costs.
- It also takes care of consultant fees, court expenses, and legal fees concerning the cyber-attack.
Statement 2 is incorrect
- If the attack was intentionally and deliberately done, the policy will not pay any claim. Insurers do not cover any fraudulent, dishonest or malicious act.
- These policies do not provide any cover for any prior actions of the attack that the policyholder has faced before buying the policy; nor do they cover for personal data or lost pictures in the policy.
Answer: (b) 1, 3 and 4 only; Difficulty Level: Medium
Incorrect
Explanation
Statement 1,3 and 4 are correct
- Cyber insurance for individuals policies are designed to cover expenses related to post factor actions of a cyber-attack. Such as, the cost incurred during the prosecution process and defense costs are paid by the insurance company relating to the types of cyber risks mentioned in the documentation of the policy.
- Other costs such as financial losses, online loss of money suffered by the policyholder due to cyber-attacks are also covered in the policy up to the sum assured as mentioned in the policy.
- Expenses incurred for counselling treatments post a cyber-attack is also paid for including damages against third party liabilities and restoration costs.
- It also takes care of consultant fees, court expenses, and legal fees concerning the cyber-attack.
Statement 2 is incorrect
- If the attack was intentionally and deliberately done, the policy will not pay any claim. Insurers do not cover any fraudulent, dishonest or malicious act.
- These policies do not provide any cover for any prior actions of the attack that the policyholder has faced before buying the policy; nor do they cover for personal data or lost pictures in the policy.
Answer: (b) 1, 3 and 4 only; Difficulty Level: Medium
Unattempted
Explanation
Statement 1,3 and 4 are correct
- Cyber insurance for individuals policies are designed to cover expenses related to post factor actions of a cyber-attack. Such as, the cost incurred during the prosecution process and defense costs are paid by the insurance company relating to the types of cyber risks mentioned in the documentation of the policy.
- Other costs such as financial losses, online loss of money suffered by the policyholder due to cyber-attacks are also covered in the policy up to the sum assured as mentioned in the policy.
- Expenses incurred for counselling treatments post a cyber-attack is also paid for including damages against third party liabilities and restoration costs.
- It also takes care of consultant fees, court expenses, and legal fees concerning the cyber-attack.
Statement 2 is incorrect
- If the attack was intentionally and deliberately done, the policy will not pay any claim. Insurers do not cover any fraudulent, dishonest or malicious act.
- These policies do not provide any cover for any prior actions of the attack that the policyholder has faced before buying the policy; nor do they cover for personal data or lost pictures in the policy.
Answer: (b) 1, 3 and 4 only; Difficulty Level: Medium
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