Union Public Service Commission(UPSC) Previous Years Questions and Answers

1 .

In India, which of the following review the independent regulators in sectors like telecommunications, insurance, electricity, etc.?

1. Ad Hoc Committees set up by the Parliament

2. Parliamentary Department Related Standing Committees

3. Finance Commission

4. Financial Sector Legislative Reforms Commission

5. NITI Aayog

Select the correct answer using the code given below.

A)

1 and 2

B)

1, 3 and 4

C)

3, 4 and 5

D)

2 and 5

Correct Answer : Option (A) - 1 and 2

Note :

The Parliamentary committees are established to study and deal with various matters that cannot be directly handled by the legislature due to their volume. They also monitor the functioning of the executive branch.

The Parliamentary committees are of two kinds - Standing or permanent committees and Ad hoc committees. The former are elected or appointed periodically and they work on a continuous basis. The latter are created on an ad hoc basis as the need arises and they are dissolved after they complete the task assigned to them. They are responsible to review the independent regulators in sectors like telecommunications, insurance, electricity, etc.

(Note : the answer is more correctly derived by elimination as the last three has well known directive for functioning.)

Year : 2019

Category : Polity

2 .

With reference to the Constitution of India, consider the following statements:

1. No High Court shall have the jurisdiction to declare any central law to be constitutionally invalid.

2. An amendment to the Constitution of India cannot be called into question by the Supreme Court of India.

Which of the statements given above is/are correct?

A)

1 only

B)

2 only

C)

Both 1 and 2

D)

Neither 1 nor 2

Correct Answer : Option (D) - Neither 1 nor 2

Note : High Courts are Constitutional courts. They are the principal civil courts of original jurisdiction in each state and union territory. They have the jurisdiction to declare any central law to be constitutionally invalid.

The Supreme Court is the guardian of the Constitution. In this capacity, anything that ultravires the constitution is cut down by the highest judiciary including the Constitutional amendment. The basic structure of the constitution derived in the Kesava Nanda Bharti case, 1973 plays an extremely important role in this function.

Year : 2019

Category : Polity

3 .

In the context of polity, which one of the following would you accept as the most appropriate definition of liberty?

A)

Protection against the tyranny of political rulers

B)

Absence of restraint

C)

Opportunity to do whatever one likes

D)

Opportunity to develop oneself fully

Correct Answer : Opportunity to develop oneself fully

Year : 2019

Category : Polity

4 .

Consider the following statements :

1. Most of India's external debt is owed by governmental entities.

2. All of India's external debt is nominated in US dollars.

Which of the statements given above is/ are correct?

A)

1 only

B)

2 only

C)

Both 1 and 2

D)

Neither 1 nor 2

Correct Answer : Option (D) - Neither 1 nor 2

Note :

Commercial borrowings continued to be the largest component of external debt with a share of 37.4 percent, followed by NRI deposits (24.1 per cent) and short-term trade credit (19.9 percent).

US dollar denominated debt continued to be the largest component of India‘s external debt with a share of 45.9 percent at end December 2018, followed by the Indian rupee (24.8 percent), SDR (5.1 percent), yen (4.9 percent) and euro (3.1 percent).

Year : 2019

Category : Economy

5 .

Which of the following is not included in the assets of a commercial bank in India?

A)

Advances

B)

Deposits

C)

Investments

D)

Money at call and short notice

Correct Answer : Advances

Note :

When it comes to deposits with banks, the assets and liabilities are defined as follows :

* In the case of depositor : It is an asset - amount to be received from the bank. It means that the amount to be received from the bank either on demand or an maturity of the deposit.

* In the case of bank : It is a liability - amount to be payable to the depositor . It means that the bank has to repay the amount to the depositor on demand or on maturity of the deposit.

Year : 2019

Category : Economy

6 .

In the context of India, which of the following factors is/ are contributor/ contributors to reducing the risk of a currency crisis?

1. The foreign currency earnings of India's IT sector

2. Increasing the government expenditure

3. Remittances from Indians abroad

Select the correct answer using the code given below.

A)

1 only

B)

1 and 3 only

C)

2 only

D)

1, 2 and 3

Correct Answer : Option (B) - 1 and 3 only

Note : Option 1 and 3 will bring foreign currency, which will contribute in reducing the risk of a currency crisis. Option 2 will not bring foreign currency except if a foreign company does the work.

Year : 2019

Category : Economy

7 .

Consider the following statements :

1. The United Nations Convention against Corruption (UNCAC) has a 'Protocol against the Smuggling of Migrants by Land, Sea and Air'.

2. The UNCAC is the ever-first legally binding global anti-corruption instrument.

3. A highlight of the United Nations Convention against Transnational Organized Crime (UNTOC) is the inclusion of a specific chapter aimed at returning assets to their rightful owners from whom they had been taken illicitly.

4. The United Nations Office on Drugs and Crime (UNODC) is mandated by its member States to assist in the implementation of both UNCAC and UNTOC.

Which of the statements given above are correct?

A)

1 and 3 only

B)

2 and 4 only

C)

2, 3 and 4 only

D)

1, 2, 3 and 4

Correct Answer : Option (C) - 2, 3 and 4 only

Note :

The first statement is wrong as it is under the UN convention against trans-national organized crime.

The United Nations Convention against Corruption is the only legally binding universal anti-corruption instrument.

The Convention UNTOC is supplemented by three Protocols, which target specific areas and manifestations of organized crime: the Protocol to Prevent, Suppress and Punish Trafficking in Persons, Especially Women and Children; the Protocol against the Smuggling of Migrants by Land, Sea and Air; and the Protocol against the Illicit Manufacturing of and Trafficking in Firearms, their Parts and Components and Ammunition.

Countries must become parties to the Convention itself before they can become parties to any of the Protocols. Statements 2, 3 and 4 are correct.

Year : 2019

Category : Economy

8 .

Which of the following is issued by registered foreign portfolio investors to overseas investors who want to be part of the Indian stock market without registering themselves directly?

A)

Certificate of Deposit

B)

Commercial Paper

C)

Promissory Note

D)

Participatory Note

Correct Answer : Participatory Note

Note :

Participatory notes also referred to as P-Notes, or PNs, are financial instruments required by investors or hedge funds to invest in Indian securities without having to register with the Securities and Exchange Board of India (SEBI).

Year : 2019

Category : Economy

9 .

With reference to India's Five-Year Plans, which of the following statements is/are correct?

1. From the Second Five-Year Plan, there was a determined thrust towards substitution of basic and capital good industries.

2. The Fourth Five-Year Plan adopted the objective of correcting the earlier trend of increased concentration of wealth and economic power.

3. In the Fifth Five-Year Plan, for the first time; the financial sector was included as an integral part of the Plan.

Select the correct answer using the code given below.

A)

1 and 2 only

B)

2 only

C)

3 only

D)

1, 2 and 3

Correct Answer : Option (A) - 1 and 2 only

Note :

From the Second Five-Year Plan, to save the valuable foreign exchange and give a boost to the domestic industrial sector, the Indian government promoted import substitution. The Fourth Five-Year Plan adopted the objective of correcting the earlier trend of increased concentration of wealth and economic power.

In 1969 the Indian government nationalized 14 major private banks; one of the big banks was Bank of India. It was the first time when the financial sector was included as an integral part of the plan.

Year : 2019

Category : Economy

10 .

With reference to Asian Infrastructure Investment Bank (AIIB), consider the following statements :

1. AIIB has more than 80 member nations.

2. India is the largest shareholder in AIIB.

3. AIIB does not have any members from outside Asia

Which of the statements given above is/are correct?

A)

1 only

B)

2 and 3 only

C)

1 and 3 only

D)

1, 2 and 3

Correct Answer : Option (A) - 1 only

Note :

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, we began operations in January 2016 and have now grown to 97 approved members worldwide. Outside Asia Members: Australia, New Zealand.

Source : AIIB

Year : 2019

Category : Economy