Skip to content
GK24
Prime

UPSC 2010 Previous Year GK Questions with Answers

GK questions asked in UPSC 2010, with answers and explanations.

Previous Year Questions

Q1.Indian EconomyAsked in: UPSC Civil Services · UPSC Civil Services Exam (Prelims) 2010Easy

In the parlance of financial investments, the term 'bear' denotes

  1. A.An investor who feels that the price of a particular security is going to fall
  2. B.An investor who expects the price of particular shares to rise
  3. C.A shareholder or a bondholder who has an interest in a company, financial or otherwise
  4. D.Any lender whether by making a loan or buying a bond
Show answer
Correct answer: A. An investor who feels that the price of a particular security is going to fall

Explanation

The correct answer is A, an investor who feels that the price of a particular security is going to fall. A bear expects prices to slide and therefore sells, hoping to buy the same security back cheaper, which is why a falling market is called a bear market. The name is said to come from the bear striking downward with its paws, against the bull that tosses its horns upward. On Indian exchanges a bear typically sells short, and a spell of heavy selling that drags prices down is called a bear hug or a bear raid. B is wrong because an investor who expects prices to rise is a bull. C is wrong because a person holding a share or a bond and so having an interest in the company is a stakeholder. D is wrong because one who lends money or buys a bond is a creditor. Exam tip: bear sells expecting a fall, bull buys expecting a rise; Dalal Street carries statues of both.

Q2.Indian PolityAsked in: UPSC Civil Services · UPSC Civil Services Exam (Prelims) 2010Medium

With reference to Lok Adalats, which of the following statements is correct?

  1. A.Lok Adalats have the jurisdiction to settle the matters at pre-litigative stage and not those matters pending before any court
  2. B.Lok Adalats can deal with matters which are civil and not criminal in nature
  3. C.Every Lok Adalat consists of either serving or retired judicial officers only and not any other person
  4. D.None of the statements given above is correct
Show answer
Correct answer: D. None of the statements given above is correct

Explanation

The correct answer is D, none of the statements given above is correct. Every one of the three descriptions gets a detail wrong, so the fourth option is the only one left. Lok Adalats are organised under the Legal Services Authorities Act of 1987 to settle disputes by compromise, and their award is treated as a decree of a civil court against which no appeal lies. A is wrong because a Lok Adalat takes up both a case already pending before a court and a dispute at the pre-litigation stage. B is wrong because it can settle a compoundable criminal offence as well as a civil dispute; only a non-compoundable offence is kept out. C is wrong because a Lok Adalat is made up of a serving or retired judicial officer together with other persons, usually a social worker and a member of the legal profession. Exam tip: remember the Act of 1987 and the rule that a Lok Adalat award is final, with no appeal.