Civil Service Preliminary Paper-1 Previous Year Solved Questions for the year 2018

UPSC Civil Services Prelims 2018 Updates: Check paper analysis ...

1. Which one of the following best describes the term “Merchant Discount Rate” sometimes seen in news ? 

  1. The incentive given by a bank to a merchant for accepting payments through debit cards pertaining to that bank.
  2. The amount paid back by banks to their customers when they use debit cards for financial transactions for purchasing goods or services.
  3. The charge to a merchant by a bank for accepting payments from his customers through the bank’s debit cards.
  4. The incentive given by the Government, to merchants for promoting digital payments by their customers through Point of Sale (PoS) machines and debit cards.

Answer : (C)

2. With reference to the governance of public sector banking in India, consider the following statements 

  1. Capital infusion into public sector banks by the Government of India has steadily increased in the last decade.
  2. To put the public sector banks in order, the merger of associate banks with the parent State Bank of India has been affected.

Which of the statements given above is/are correct ?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Answer : (B)

3. With reference to digital payments, consider the following statements: 

  1. BHIM app allows the user to transfer money to anyone with a UPI-enabled bank account.
  2. While a chip-pin debit card has four factors of authentication, BHIM app has only two factors of authentication.

Which of the statements given above is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Answer : (A)

4. Consider the following statements: 

  1. Capital Adequacy Ratio (CAR) is the amount that banks have to maintain in the form of their own funds to offset any loss that banks incur if the account-holders fail to repay dues.
  2. CAR is decided by each individual bank.

Which of the statements given above is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Answer : (A)

5. Consider the following statements: 

  1. The Reserve Bank of India manages and services Government of India Securities but not any State Government Securities.
  2. Treasury bills are issued by the Government of India and there are no treasury bills issued by the State Governments.
  3. Treasury bills offer are issued at a discount from the par value.

Which of the statements given above is/are correct?

  1. 1 and 2 only
  2. 3 Only
  3. 2 and 3 only
  4. 1, 2 and 3

Answer : (C)

6. Which one of the following statements correctly describes the meaning of legal tender money ? 

  1. The money which is tendered in courts of law to defray the fee of legal cases
  2. The money which a creditor is under compulsion to accept in settlement of his claims
  3. The bank money in the form of cheques, drafts, bills of exchange, etc.
  4. The metallic money in circulation in a country

Answer : (B)

7. Consider the following statements 

  1. The Fiscal Responsibility and Budget Management ( FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined) government by 2023, comprising 40% for the Central Government and 20% for the State Governments.
  2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.
  3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.

Which of the statements given above is/are correct?

  1. 1 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1, 2 and 3

Answer : (C)

8. Consider the following items: 

  1. Cereal grains hulled
  2. Chicken eggs cooked
  3. Fish processed and canned
  4. Newspapers containing advertising material

Which of the above items is/are exempted under GST (Goods and Services Tax)?

  1. 1 only
  2. 2 and 3 only
  3. 1, 2 and 4 only
  4. 1, 2, 3 and 4

Answer : (C)

9. Regarding Money Bill, which of the following statements is not correct? 

  1. A bill shall be deemed to be a Money Bill if it contains only provisions relating to imposition, abolition, remission, alteration or regulation of any tax.
  2. A Money Bill has provisions for the custody of the Consolidated Fund of India or the Contingency Fund of India.
  3. A Money Bill is concerned with the appropriation of moneys out of the Contingency Fund of India.
  4. A Money Bill deals with the regulation of borrowing of money or giving of any guarantee by the Government of India.

Answer : (C)

10. With reference to India’s decision to levy an equalization tax of 6% on online advertisement services offered by non-resident entities, which of the following statements is/are correct?

  1. It is introduced as a part of the Income Tax Act.
  2. Non-resident entities that offer advertisement services in India can claim a tax credit in their home country under the “Double Taxation Avoidance Agreements”.

Select the correct answer using the code given below:

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Answer : (D)

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