UPSC EPFO Mock Test - 1 - UPSC MCQ

The correct answer is:

1. 1, 3 and 4 only

Explanation:

• Statement 1 is not correct: The Marginal Standing Facility (MSF) is not exactly the same as the repo rate; it is an emergency borrowing rate for banks above the repo rate. The MSF allows banks to borrow funds overnight from the RBI against government securities.

• Statement 2 is correct: The MSF is on the lines of the Liquidity Adjustment Facility (LAF) and is a part of it, designed to help banks manage overnight liquidity shortages.

• Statement 3 is not correct: While the MSF is a costlier route compared to the repo rate, it is considered a penal rate since it is higher than the repo rate to discourage excessive reliance on it.

• Statement 4 is not correct: Although banks typically use the MSF after exhausting other avenues for raising short-term funds, the nature of MSF being a penal rate and its higher cost is implied in the statement, making it misleading.

Therefore, statements 1, 3, and 4 are not correct.

The structure of the International Labour Organization (ILO) includes:

• (A) An International Labour Conference (ILC): The ILC is the highest decision-making body of the ILO. It convenes annually and brings together representatives from governments, employers, and workers to discuss and adopt international labor standards, policies, and programs.
• (B) A Governing Body: The Governing Body is the executive body of the ILO. It is composed of representatives from governments, employers, and workers. The Governing Body oversees the implementation of decisions taken by the ILC and guides the work of the International Labour Office.
• (C) An International Labour Office (ILO): The International Labour Office serves as the permanent secretariat of the ILO. It conducts research, provides technical assistance, and supports the work of the ILO's constituents in promoting decent work and social justice worldwide.
• Therefore, the correct answer is (D) All the above, as the structure of the ILO includes an International Labour Conference, a Governing Body, and an International Labour Office.

Answer: c

Explanation:

The project - 'Sustainable Action for Climate Resilient Development in Majuli' has been initiated by Assam Government with the aim to combat climate change & reduce greenhouse gas emissions. Mitigation through forestry activities & biodiversity conservation will be the starting points for the carbon neutral agenda.

The project will be designed and implemented in partnership with other departments of the district for which a district level committee under the chairmanship of Deputy Commissioner has been constituted.

This error will give the double affect as instead of credit of Rs.1000 for purchase return, a debit of Rs.1000 is posted to sales return a/c.

Due to this, debit of trial balance will be Rs.2000 more than the credit side. 
 

The only daughter of Neha's father is Neha, who is the mother of that person. So Neha is his mother.

• The given Assertion (A) is correct, stating that Labour Welfare is relative to time and space.
• Labour Welfare measures and practices may vary based on the specific context, needs, and socio-economic conditions of a particular time and place.
• Different countries, regions, and industries may have different approaches and priorities when it comes to Labour Welfare.
• The Reason (R) provided, stating that Labour Welfare shall be universal and perpetual, is incorrect.
• Labour Welfare is not universally standardized or constant across all time and space; it is adaptable and subject to changes and advancements based on societal needs and developments.
• Therefore, the correct answer is (D) Assertion is right but its explanation given in Reason is wrong.

The fixed assets are long-term assets. They help in the production of goods and services. However, when an asset is in use its value decreases due to the normal wear and tear, efflux of time and obsolescence. This reduction in the value of a fixed asset is known as depreciation.

The synonym of NEUTRAL is unbiased.

The chief minister  plays a very significant and highly crucial role in the state administration and it is the function of the Chief Minister shall communicate to the Governor all decisions of the Council of Ministers relating to the administration and the affairs of the State and proposals for legislation.

• The above statement is incorrect, as indicated in option (B).
• According to the statement, 'Employment Injury' refers to personal injury to an employee caused by accident or occupational disease arising out of and in the course of employment, but it states that this applies only within the territorial limits of India and not outside India.
• This is an incorrect statement because employment injury can occur both within and outside the territorial limits of India.
• Employment injuries can happen to an employee regardless of their location, as long as the injury arises out of and in the course of their employment.
• The statement wrongly restricts the occurrence of employment injuries to within the territorial limits of India.
• Therefore, the correct answer is (B) Incorrect.

• The attributes of leader-member relations, task structure, and position power are associated with Contingency Theory of leadership.
• Contingency Theory proposes that effective leadership depends on the interaction between the leader's characteristics, the characteristics of the followers, and the situational context.
• Leader-member relations refer to the quality of the relationship between the leader and the members of the group or organization.
• Task structure pertains to the clarity and structure of the tasks or activities performed by the group.
• Position power relates to the formal authority and power held by the leader in the organizational hierarchy.
• Contingency Theory suggests that the effectiveness of a leader is contingent upon these factors and the specific situational context in which leadership occurs.

The Government of India issues metallic coins in India. Coins, paper currency and deposits are the components of money supply in India.

Von-Neumann first offered his idea for a computer system in 1945; this concept became known as the Von-Neumann Architecture. It had a Control Unit, Registers, an Arithmetic and Logical Memory Unit (ALU), and Inputs and Outputs.

The shortcut key to switch between different application is Alt+Tab. Switches between program groups, tabs, or document windows in applications that support this feature. Reverse the direction by pressing Ctrl+Shift+Tab at the same time.

RBI, the regulator of the NBFCs, has given a very wide definition of such companies (a kind of 'umbrella' definition)—“a financial institution formed as a company involved in receiving deposits or lending in any manner. their liability structure, they have been classified into two broad categories:

•  

  (i) deposit-taking NBFCs (NBFC-D), and

•  

  (ii) non-deposit taking NBFCs (NBFC. ND).

•  

  An NBFC must get itself registered with the RBI as a deposit-taking company. For registration, they need to be a company (incorporated under the Companies Act, 1956) and should have a minimum NOF (net owned fund) Rs. 2 crores.

Company is an association of person who takes their meals together. The term is derived from the Latin word (“com” meaning “with” or “together”; “panis” that is “bread”) Section 2(20) of Companies Act, 2013 states that a company means any association of person registered under the present or the previous companies act.

Myopic – short-sighted.
farsighted – showing a prudent awareness of future possibilities.

The correct answer is C. Both A & B.

• In most states in India, the Lokayukta and Upalokayukta are appointed by the Governor of the state, but only after consultation with the Chief Justice of the State High Court and the Leader of Opposition in the State Legislative Assembly.
• The Lokayukta is an anti-corruption authority or ombudsman who represents the public interest. The Lokayukta investigates allegations of corruption and mal-administration against public servants and is tasked with quickly redressing public grievances.
• The Chief Justice and the Leader of Opposition are consulted to ensure a fair and unbiased appointment. This is because the Lokayukta should be an individual of high integrity and impartiality. The involvement of these two key figures helps uphold the credibility and independence of the Lokayukta.

The chairman and members of the National Human Rights Commission are appointed by the president on the recommendation of a committee consisting of the Prime Minister (Chairperson), the Home Minister, the Leader of the Opposition in the Lok Sabha and Rajya Sabha, the Speaker of the Lok Sabha, and the Deputy Chairman of the Rajya Sabha

यह Grammar पर आधारित प्रश्न है। वाक्य में unreal past situation पर आधारित संदर्भ दिया गया है। ऐसे वाक्यों का structure इस प्रकार होता है।

If + sub. + had + V₃ + object, subj + would have + V₃ + object

अतः यहां would सही विकल्प है।

• Unity: This term refers to the state of being united or joined as a whole, without any differences or variations.


• Diversity: On the other hand, diversity signifies the presence of a variety of different elements or qualities.


• Antonym Relationship: Unity and diversity are considered antonyms because unity represents oneness and sameness, while diversity represents differences and variety.


• Example: A team that works together in unity is cohesive and harmonious, while a team with diversity brings together individuals with unique perspectives and backgrounds.

1 = x/20 = D-x/s 2
5/6 = D(1/20 – 1/s 2)
D =50

The President acquires the following extraordinary powers when the President's Rule is imposed in a state

1. He can take up the functions of the state government and powers vested in the governor or any other executive authority in the state.

2. He can declare that the powers of the state legislature are to be exercised by the Parliament.

3. He can take all other necessary steps including the suspension of the constitutional provisions relating to anybody or authority in the state.

Industrial Relations refer to the complex interactions and relationships between employers, employees, and their representatives in the workplace. They encompass various aspects of the employment relationship, such as wages, working conditions, workplace disputes, and collective bargaining.

When examining the given options:

• (A) Industrial Relations are indeed the outcome of the employment relationship in an industrial enterprise. This option highlights the fundamental nature of industrial relations as a result of the interaction between employers and employees.
• (B) Industrial Relations do promote the skills and methods of adjustment and cooperation among the different stakeholders involved. This aspect is crucial for fostering a harmonious and productive work environment.
• (C) This option suggests that Industrial Relations create complex rules and regulations to maintain cordial relations. While it is true that there may be rules and regulations in place to govern the employment relationship and ensure fair treatment, this is not a characteristic specific to Industrial Relations alone.
• (D) The statement in option (D) is incorrect. Industrial Relations, when effectively managed, aim to create a positive work environment based on trust, cooperation, and collaboration. The goal is to minimize conflicts and foster a mutually beneficial relationship between employers and employees.

Therefore, the correct answer is (D) Industrial Relations system does not create an environment of distrust and conflict.

• Choice is compared, hence that of (choice of) is essential. Otherwise, choice and Obama are directly compared making it an error.
• To identify either the similarities or the differences between two things, use "compare to."
• To identify both the similarities and the differences (at the same time), use "compare with." ('Compared with' places the things compared on equal level) India is often compared with China. India is often compared to the US.
• In comparing with something, one finds or discusses both things that are alike and things that are different.

• Contrasting Emotions: The little boy is thrilled to see his dead father in a movie because it feels like his father is with him. On the other hand, the mother finds the scene unbearable because it intensifies her grief.


• Increased Grief: For the mother, seeing her deceased husband in a movie brings back memories and emotions, making her pain even more intense.


• Emotional Impact: While the boy's reaction is positive and filled with joy, the mother's response is negative and filled with sorrow.


• Personal Perspective: The differing reactions showcase how individuals can interpret the same situation in vastly different ways based on their personal experiences and emotions.


• Overall: The contrasting emotions of the boy and the mother highlight the complexity of grief and how it can affect people in unique ways.

Birds of prey or raptors are often apex predators, sitting at the top of the food chain. As such, they can act as an “ecological baraometer”, helping us gauge the health of the environment. In addition to their value as indicator species, they provide valuable ecosystem services, controlling pest animals such as rodents and removing carrion from the environment, potentially reducing the spread of disease.

Statement 2 is incorrect.

The EFF was established to provide assistance to countries experiencing serious payment imbalances because of structural impediments or slow growth and an inherently weak balance-of-payments position. An EFF provides support for comprehensive programs including the policies needed to correct structural imbalances over an extended period.

Extended arrangements are typically approved for periods of three years, but may be approved for periods as long as 4 years to implement deep and sustained structural reforms. Amounts drawn under an EFF are to be repaid over 4½–10 years in 12 equal semiannual installments.

As with other IMF lending, the size of borrowing under an EFF is guided by a country’s financing needs, capacity to repay, and track record with past use of IMF resources.

• Statement: Trial Balance is a statement that lists all the general ledger accounts of a company along with their balances (debit or credit).


• Account: It is not an individual account but a compilation of all accounts in the general ledger.


• Summary: It provides a summary of the balances in the general ledger to ensure that debits equal credits.


• Ledger: While Trial Balance is related to the ledger accounts, it is not the ledger itself. It is a tool used to prepare financial statements.

• Detect Errors: It helps in detecting errors in the accounting records by ensuring that debits equal credits.


• Preparation of Financial Statements: It serves as a basis for preparing financial statements like the Income Statement and Balance Sheet.


• Internal Control: It is an important internal control mechanism to ensure accuracy in financial reporting.


• Decision Making: Provides a snapshot of the financial position of the company which aids in decision-making.