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- UPSC Static Quiz, May 2023
10 May 2023
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10th May 2023 Static Quiz for UPSC Prelims
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Question 1 of 5
1. Question
2 pointsConsider the following statements with reference to the National Small Savings Fund:
1. National Small Savings Fund (NSSF) in the Consolidated fund of India was established in 1999.
2. The transactions of National Small Savings Fund do impact the fiscal deficit of the Centre directly.
3. The RBI decides the interest rates on small savings schemes in India.
Which of the given statements is/are not correct?Correct
Correct Answer: D
Explanation
All the statements are not correct.
National Small Savings Fund
• National Small Savings Fund (NSSF) in the Public Account of India was established in 1999.
Hence statement 1 is not correct.
The Fund is administered by the Government of India, Ministry of Finance (Department of Economic
Affairs) under National Small Savings Fund (Custody and Investment) Rules, 2001, framed by the President
under Article 283(1) of the Constitution.
• The objective of NSSF is to de-link small savings transactions from the Consolidated Fund of India and
ensure their operation in a transparent and self-sustaining manner.
• Since NSSF operates in the public account, its transactions do not impact the fiscal deficit of the Centre
directly. Hence statement 3 is not correct.
• The Ministry of Finance decides the interest rates on small savings schemes in India. Hence statement 3 is
not correct.
• Small savings instruments can be classified under three heads:
1. Postal deposits (comprising savings account, recurring deposits, time deposits of varying maturities and
monthly income scheme),
2. Savings certificates like: National Small Savings Certificate(NSC) and Kisan Vikas Patra (KVP)
3. Social security schemes like: Public Provident Fund (PPF) and Senior Citizens‘ Savings Scheme(SCSS)Incorrect
Correct Answer: D
Explanation
All the statements are not correct.
National Small Savings Fund
• National Small Savings Fund (NSSF) in the Public Account of India was established in 1999.
Hence statement 1 is not correct.
The Fund is administered by the Government of India, Ministry of Finance (Department of Economic
Affairs) under National Small Savings Fund (Custody and Investment) Rules, 2001, framed by the President
under Article 283(1) of the Constitution.
• The objective of NSSF is to de-link small savings transactions from the Consolidated Fund of India and
ensure their operation in a transparent and self-sustaining manner.
• Since NSSF operates in the public account, its transactions do not impact the fiscal deficit of the Centre
directly. Hence statement 3 is not correct.
• The Ministry of Finance decides the interest rates on small savings schemes in India. Hence statement 3 is
not correct.
• Small savings instruments can be classified under three heads:
1. Postal deposits (comprising savings account, recurring deposits, time deposits of varying maturities and
monthly income scheme),
2. Savings certificates like: National Small Savings Certificate(NSC) and Kisan Vikas Patra (KVP)
3. Social security schemes like: Public Provident Fund (PPF) and Senior Citizens‘ Savings Scheme(SCSS) -
Question 2 of 5
2. Question
2 pointsThe term ‘Bond yields’ these days is becoming more and more relevant in the context of downfall of
Indian Rupee against the USD. Consider the following statements with reference to the Bond Yield:
1. Movements in yields depend on trends in interest rates, it can result in capital gains or losses for
investors.
2. A rise in bond yields in the market will also bring the price of the bond to rise.
3. A drop in bond yield would benefit the investor.
4. A decline in yield is harmful for the equity markets because money starts flowing out of equity
investments to debt investments.
Which of the given statements is/are correct?Correct
Correct Answer: A
Explanation
Statements 1 and 3 are correct, 2 and 4 are not correct.
Bond Yield
• Bond yield is the return an investor realizes on a bond. The mathematical formula for calculating yield is
the annual coupon rate divided by the current market price of the bond
• Bond is an instrument to borrow money. A bond could be issued by a country’s government or by a
company to raise funds.
Coupon Rate:
• It is the rate of interest paid by bond issuers on the bond’s face value.
• Movements in yields depend on trends in interest rates, it can result in capital gains or losses for investors.
Hence statement 1 is correct.
• A rise in bond yields in the market will bring the price of the bond down. Hence statement 1 is not correct.
• A drop in bond yield would benefit the investor as the price of the bond will rise, generating capital gains.
Hence statement 3 is correct.
• A decline in yield is also better for the equity markets because money starts flowing out of debt
investments to equity investments. Hence statement 4 is not correct.
• It is a market in which shares of companies are issued and traded, either through exchanges or over thecounter markets. Also known as the stock market.
• That means as bond yields go down, the equity markets tend to outperform by a bigger margin and as
bond yields go up equity markets tend to falter.Incorrect
Correct Answer: A
Explanation
Statements 1 and 3 are correct, 2 and 4 are not correct.
Bond Yield
• Bond yield is the return an investor realizes on a bond. The mathematical formula for calculating yield is
the annual coupon rate divided by the current market price of the bond
• Bond is an instrument to borrow money. A bond could be issued by a country’s government or by a
company to raise funds.
Coupon Rate:
• It is the rate of interest paid by bond issuers on the bond’s face value.
• Movements in yields depend on trends in interest rates, it can result in capital gains or losses for investors.
Hence statement 1 is correct.
• A rise in bond yields in the market will bring the price of the bond down. Hence statement 1 is not correct.
• A drop in bond yield would benefit the investor as the price of the bond will rise, generating capital gains.
Hence statement 3 is correct.
• A decline in yield is also better for the equity markets because money starts flowing out of debt
investments to equity investments. Hence statement 4 is not correct.
• It is a market in which shares of companies are issued and traded, either through exchanges or over thecounter markets. Also known as the stock market.
• That means as bond yields go down, the equity markets tend to outperform by a bigger margin and as
bond yields go up equity markets tend to falter. -
Question 3 of 5
3. Question
2 pointsWith reference to ‘Personality Rights’, consider the following statements
1. Personality rights refer to the right of a person to protect his/her personality under the right to privacy or
property.
2. Personality rights are governed by statutes like the Trade marks Act 1999 and the Copyright Act 1957.
Which of the given statements is/are correct?Correct
Correct Answer: A
Explanation
Statement 1 is correct, 2 is not correct.
Personality Rights
• Personality rights refer to the right of a person to protect his/her personality under the right to privacy or
property. Hence statement 1 is correct.
• These rights are important to celebrities as their names, photographs or even voices can easily be misused
in various advertisements by different companies to boost their sales.
• Therefore, it is necessary for renowned personalities/celebrities to register their names to save their
personality rights.
• There is no separate codified law in India dealing with personality or celebrity rights (“Personality Rights”)
and the position and development of such rights and laws in India is still at a nascent stage largely governed
by judicial pronouncements of courts.
• The closest statute to protect personality rights is Article 21 of the Constitution of India under rights to
privacy and publicity. Hence statement 2 is NOT correct.Incorrect
Correct Answer: A
Explanation
Statement 1 is correct, 2 is not correct.
Personality Rights
• Personality rights refer to the right of a person to protect his/her personality under the right to privacy or
property. Hence statement 1 is correct.
• These rights are important to celebrities as their names, photographs or even voices can easily be misused
in various advertisements by different companies to boost their sales.
• Therefore, it is necessary for renowned personalities/celebrities to register their names to save their
personality rights.
• There is no separate codified law in India dealing with personality or celebrity rights (“Personality Rights”)
and the position and development of such rights and laws in India is still at a nascent stage largely governed
by judicial pronouncements of courts.
• The closest statute to protect personality rights is Article 21 of the Constitution of India under rights to
privacy and publicity. Hence statement 2 is NOT correct. -
Question 4 of 5
4. Question
2 pointsWith reference to the ‘AYURSWASTHYA Yojana’ consider the following statements:
1. The aim of the scheme is to provide affordable healthcare services to pregnant mothers and young
children.
2. The scheme functions under the Ministry of AYUSH.
Select the correct options:Correct
Correct Answer: B
Explanation
AYURSWASTHYA Yojana has three objectives
a) to support establishment of advanced/specialized AYUSH medical health unit in reputed AYUSH and
Allopathic institutions both in Government and Non_Government sector
b) to support creative and innovative proposals for establishment and upgradation of both functions and
facilities of reputed institutions to strengthen competencies of AYUSH professionals
c) to support creative and innovative proposals for prestigious organizations which have well established
buildings and infrastructure, and wish to work for AYUSH systems to the level of Centre of Excellence. Hence
statement 1 is not correct.
The scheme is being run by the Ministry of Ayush. Hence statement 2 is correct.Incorrect
Correct Answer: B
Explanation
AYURSWASTHYA Yojana has three objectives
a) to support establishment of advanced/specialized AYUSH medical health unit in reputed AYUSH and
Allopathic institutions both in Government and Non_Government sector
b) to support creative and innovative proposals for establishment and upgradation of both functions and
facilities of reputed institutions to strengthen competencies of AYUSH professionals
c) to support creative and innovative proposals for prestigious organizations which have well established
buildings and infrastructure, and wish to work for AYUSH systems to the level of Centre of Excellence. Hence
statement 1 is not correct.
The scheme is being run by the Ministry of Ayush. Hence statement 2 is correct. -
Question 5 of 5
5. Question
2 pointsThe Indian wildlife biologist Dr. Purnima Devi Barman is among the honourees of this year’s Champions
of the Earth award. This prestigious Award is given by –Correct
Correct Answer: D
Explanation
Champions of the Earth award
• UNEP’s Champions of the Earth honors individuals, groups, and organizations whose actions have a
transformative impact on the environment.
• The annual Champions of the Earth award is the UN’s highest environmental honour.
• It recognizes outstanding leaders from government, civil society, and the private sector.
• Since its inception in 2005, the annual Champions of the Earth award has been awarded to trailblazers at
the forefront of efforts to protect our natural worldIncorrect
Correct Answer: D
Explanation
Champions of the Earth award
• UNEP’s Champions of the Earth honors individuals, groups, and organizations whose actions have a
transformative impact on the environment.
• The annual Champions of the Earth award is the UN’s highest environmental honour.
• It recognizes outstanding leaders from government, civil society, and the private sector.
• Since its inception in 2005, the annual Champions of the Earth award has been awarded to trailblazers at
the forefront of efforts to protect our natural world
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