MCQ
FATF MCQ - Practice Questions with Answers
Solve 4 FATF questions for RAS/RPSC preparation.
Practice questions
Q1With reference to the recent election of India's Vivek Aggarwal as FATF Vice-President, consider the following statements: 1. He has been elected for a one-year term beginning July 2026. 2. He will succeed Giles Thomson of the United Kingdom. Which of the statements given above is/are correct?
Both statements are correct. Vivek Aggarwal has been elected FATF Vice-President for a one-year term beginning July 2026, and he will succeed Giles Thomson of the United Kingdom, who has held the role since July 2025.
Q2With reference to the Financial Action Task Force (FATF), consider the following statements: 1. It was established in 1989 by the G7 nations. 2. India became a full member of the FATF in the same year it was established. Which of the statements given above is/are correct?
Only statement 1 is correct. The FATF was established in 1989 by the G7 nations. However, India became a full member of the FATF in 2010, not in 1989, so statement 2 is incorrect.
Q3With reference to the Financial Action Task Force (FATF) and India's recent appointment to it, consider the following statements: 1. India secured the vice-presidency of FATF for the first time, with Vivek Aggarwal elected for a one-year term from July 2026. 2. FATF was established in 1989 by the G7, and India became a full member in 2010. 3. At the June 2026 plenary, Bosnia and Herzegovina and Iraq were added to the grey list. Which of the statements given above are correct?
All three statements are correct. India secured the FATF vice-presidency for the first time, with senior IAS officer Vivek Aggarwal elected for a one-year term from July 2026, succeeding Giles Thomson of the UK. FATF, the global watchdog against money laundering and terror financing, was established in 1989 by the G7, and India became a full member in 2010. At the June 2026 plenary held in Paris (17-19 June), Bosnia and Herzegovina and Iraq were added to the grey list, while Algeria and Namibia were removed.
Q4Consider the following statements regarding the Financial Action Task Force (FATF): Assertion (A): In 2026, India for the first time secured the vice-presidency of the FATF. Reason (R): The FATF is the global watchdog against money laundering and terror financing. Select the correct answer using the codes below.
Assertion is true: senior IAS officer Vivek Aggarwal was elected FATF vice-president for a one-year term from July 2026, succeeding Giles Thomson of the UK — the first time an Indian holds such a top leadership post. Reason is also true: FATF, established in 1989 by the G7, is indeed the global watchdog against money laundering and terror financing. However, the general nature of FATF as a watchdog does not explain WHY India secured the vice-presidency for the first time. Hence both statements are true but R is not the correct explanation of A — option B.
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