The World Trade Organization (WTO) officially replaced which organization on 1 January 1995? MCQ with Answer and Explanation

The World Trade Organization (WTO) officially replaced which organization on 1 January 1995?
A. UNCTAD
B. International Trade Centre (ITC)
C. General Agreement on Tariffs and Trade (GATT)
D. Bretton Woods System
Answer: Option C
Solution (By JKExamLibrary)
The WTO succeeded the GATT, which had been in effect since 1948, and expanded its scope to include services and intellectual property.

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Practice More International Organizations Questions

Question #1 Report Error
The headquarters of the IMF and the World Bank are located in the same city. Which city is it?
A. London
B. New York
C. Washington, D.C.
D. Geneva

Correct Answer: Option C


Explanation:
Both the IMF and the World Bank are headquartered in Washington, D.C., USA.

Question #2 Report Error
Which treaty officially ended the Cold War-era influence of the Warsaw Pact and affects international security dialogues?
A. Treaty of Rome
B. Maastricht Treaty
C. Kyoto Protocol
D. OSCE related accords

Correct Answer: Option D


Explanation:
The Organization for Security and Co-operation in Europe (OSCE) grew out of the Helsinki Accords, playing a key role in post-Cold War security.

Question #3 Report Error
The 'BRICS Contingent Reserve Arrangement' is a:
A. Joint anti-terror fund
B. Framework for currency swap and liquidity support
C. Free trade agreement
D. Military alliance

Correct Answer: Option B


Explanation:
The CRA is a fund providing short-term liquidity support to BRICS members through currency swaps, established in 2014.