QUES: IndyMac reported that during April 2008, Moody's and Standard & Poor's downgraded the ratings on a significant number of Mortgage-backed security (MBS) bonds including $160 million of those issued by IndyMac and which the bank retained in its MBS portfolio. IndyMac concluded that these downgrades would have negatively impacted the Company's risk-based capital ratio as of June 30, 2008. Had these lowered ratings been in effect at March 31, 2008, IndyMac concluded that the bank's capital ratio would have been 9.27% total risk-based. IndyMac warned that if its regulators found its capital position to have fallen below "well capitalized" (minimum 10% risk-based capital ratio) to "adequately capitalized" (810% risk-based capital ratio) the bank might no longer be able to use brokered deposits as a source of funds.
When did Moody's and Standard & Poor downgrade a significant number of IndyMac's MBS bonds?

ANS: April 2008

QUES: High-altitude clouds on Neptune have been observed casting shadows on the opaque cloud deck below. There are also high-altitude cloud bands that wrap around the planet at constant latitude. These circumferential bands have widths of 50150 km and lie about 50110 km above the cloud deck. These altitudes are in the layer where weather occurs, the troposphere. Weather does not occur in the higher stratosphere or thermosphere. Unlike Uranus, Neptune's composition has a higher volume of ocean, whereas Uranus has a smaller mantle.
Where on Neptune does weather not occur?

ANS: higher stratosphere or thermosphere

QUES: In Hong Kong, the Supreme Court of Hong Kong (now known as the High Court of Hong Kong) was the final court of appeal during its colonial times which ended with transfer of sovereignty in 1997. The final adjudication power, as in any other British Colonies, rested with the Judicial Committee of the Privy Council (JCPC) in London, United Kingdom. Now the power of final adjudication is vested in the Court of Final Appeal created in 1997. Under the Basic Law, its constitution, the territory remains a common law jurisdiction. Consequently, judges from other common law jurisdictions (including England and Wales) can be recruited and continue to serve in the judiciary according to Article 92 of the Basic Law. On the other hand, the power of interpretation of the Basic Law itself is vested in the Standing Committee of the National People's Congress (NPCSC) in Beijing (without retroactive effect), and the courts are authorised to interpret the Basic Law when trying cases, in accordance with Article 158 of the Basic Law. This arrangement became controversial in light of the right of abode issue in 1999, raising concerns for judicial independence.
When Hong Kong was a colony of Great Britain, which body was the highest court of appeal?

ANS: the Judicial Committee of the Privy Council (JCPC)

QUES: Fish and Wildlife Service (FWS) and National Marine Fisheries Service (NMFS) are required to create an Endangered Species Recovery Plan outlining the goals, tasks required, likely costs, and estimated timeline to recover endangered species (i.e., increase their numbers and improve their management to the point where they can be removed from the endangered list). The ESA does not specify when a recovery plan must be completed. The FWS has a policy specifying completion within three years of the species being listed, but the average time to completion is approximately six years. The annual rate of recovery plan completion increased steadily from the Ford administration (4) through Carter (9), Reagan (30), Bush I (44), and Clinton (72), but declined under Bush II (16 per year as of 9/1/06).
What was the average completion time for an FWS plan?

ANS:
unanswerable