MCQs are increasingly becoming the mode of examining students’ intellect and caliber for direct entry to senior level positions in the Government of India and its various organizations, like the RBI, SBI, NABARD and others. From the host point of view this is an easy and effective, also transparent method. It involves little or no human intervention. Students’ rankings are automatically generated; if there is any default, it gets immediately rectified. But, there is another side of the story. It generates a sense of over-confidence. MCQ based-testing is not as easy as it sounds. It actually calls for year total ability and skills to score good in any highly competitive examination. With the threat of negative marking hanging over neck, one cannot take the easy route. What MCQs require is a good background of the subject. One needs to be crystal clear about the subject being studied. This is our humble contribution to your effort to score high ranks in the examination, you may be preparing for. We have, here, included contemporary international and national issues confronting us as a nation. The narration is comprehensive and concise. An exhaustive list of MCQs has been appended at the end.