UPSC EPFO SOLVED PAPER 2015

Total Questions: 70

51. Social Security may provide cash benefits to persons faced with

1. Sickness and disability
2. Unemployment
3. Crop failure
4. Loss of the marital partner

Correct Answer: (a) 1, 2 and 3
Solution:

Social security may provide case benefits to persons faced with sickness and disability, unemployment, crop failure, loss of the marital partner, maternity, responsibility for the care of young children or retirement from work.

52. If 5 men and 9 women can finish a piece of work in 19 days, 3 men and 6 women will do the same work in

Correct Answer: (e) *
Solution:

This question is deleted by the commision.

53. If the radius of a circles reduced by 50%, its area will be reduced by

Correct Answer: (d) 75%
Solution:

54. Employees State Insurance Act, 1948 covers factors like

1. Factories and establishments with 10 or more employees.
2. Provision of comprehensive medical care to employees and their families
3. Provision of cash benefits during sickness and maternity.
4. Monthly payments in case of death or disablement
Which of the statements given above are correct?

Correct Answer: (d) 1, 2, 3 and 4
Solution:

55. Consider the following statements regarding the Pradhan Mantri Jeevan Jyoti Bima Yojana.

1. It is applicable to all adults above the age group of 18 years.
2. The premium is deducted from the account holder’s bank account through ‘auto debit facility.’
3. The life insurer worth is decided by the account holder and he has to pay the annual premium accordingly.
4. The life insurance amount is given to the family after the death of the subscriber.
Which of the above statements given above are correct?

Correct Answer: (c) 2 and 4
Solution:

Pradhan Mantri Jeevan Jyoti Bima Yojana is a government-backed Life Insurance Scheme in India. Pradhan Mantri Jeevan Jyoti Bima Yojana is available to people between 18 and 50 years of age with bank accounts. It has an annual premium of ₹ 330. The GST is exempted on Pradhan Mantri Jeevan Jyoti Bima Yojana. This scheme will be linked also to the bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme. The amount will be automatically debited from the account. Insured’s family members will receive a sum insured of ₹ 2 lac after insured’s death.

56. In an examination paper where maximum marks are 500, A got 10% marks less than B, B got 25% marks more than C, and C got 20% marks less than D. If A got 360 marks, what marks did D get?

Correct Answer: (d) 80%
Solution:

57. Statement (I) The effects of an income tax on consumption, saving and investment are micro effects

Statement (II) Income Tax is an example of direct tax.

Correct Answer: (d) Statement (I) is false, but Statement (II) is true
Solution:

The effects of an income tax on consumption, saving and investment are macro effects. Reductions in income tax rates affect the behaviour of individual and businesses. Income tax is the direct tax. An income tax is tax that governments impose on income generated by businesses and individuals within their jurisdiction.

58. Statement (I) Trade between two countries takes place on account of differences is costs.

Statement (II) Different countries have different factor endowments.

Correct Answer: (a) Both Statement (I) and Statement (II) are individually true and Statement (II) is the correct explanation of Statement (I)
Solution:

Trade is a basic economic concept involving the buying and selling of goods and services with compensation paid by a buyer to a seller or the exchange of goods or services between parties. Trade between two countries takes place on account of differences is casts. Different countries have different factor endowments.

59. Statement (I) Foreign investment may affect a country’s export performance.

Statement (II) Inflow of foreign exchange may cause appreciation of local currency leading to a rise in the price of export commodities.

Correct Answer: (a) Both Statement (I) and Statement (II) are individually true and Statement (II) is the correct explanation of Statement (I)
Solution:

Foreign investment may effect a country’s export performance. Inflow of foreign exchange cause appreciation of local currency leading to a rise in the price of export commodities. Both statement are correct.

60. Statement (I) Speaker of Lok Sabha appoints the Chairman of the Public Accounts Committee.

Statement (II) Members of Parliament, eminent persons from industry and trade are the members of the Public Accounts Committee.

Correct Answer: (c) Statement (I) is true, but Statement (II) is false
Solution:

Speaker of Lok Sabha appoints the chairman of the Public Accounts Committee. So, option (c) is correct.