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I’ve shared my approach for Mains earlier, and received requests for a strategy for Prelims. This is how I’d prepared.This section contains:My Study ApproachGuessing Strategy based on Common SenseMock Test strategyTips for the day of the examWhat to do after the examIf you’ve already prepared well, you can probably skim or read quickly since you might be familiar with most of the stuff here. Most of this is what you would know, but perhaps haven’t articulated.1. Study ApproachPrelims is a game of return on investment (ROI) and guessing.ROI is how you study before the exam. Guessing is how you answer many of the questions on the day of the exam.ROIROI means that what you don’t study is as important or even more important than what you do.“I consider that a man’s brain originally is like a little empty attic, and you have to stock it with such furniture as you choose. A fool takes in all the lumber of every sort that he comes across, so that the knowledge which might be useful to him gets crowded out, or at best is jumbled up with a lot of other things, so that he has a difficulty in laying his hands upon it. Now the skillful workman is very careful indeed as to what he takes into his brain-attic. He will have nothing but the tools which may help him in doing his work, but of these he has a large assortment, and all in the most perfect order. It is a mistake to think that that little room has elastic walls and can distend to any extent. Depend upon it there comes a time when for every addition of knowledge you forget something that you knew before. It is of the highest importance, therefore, not to have useless facts elbowing out the useful ones.”Sir Arthur Conan Doyle: Sherlock Holmes, A Study in ScarletUnderstand these simple facts.The material to read can be infinite (if you don’t know what you’re doing)Your memory (and time, energy) are limitedNot all facts are equally important.I’ve used the same idea in life, applying it to everything I do, so it was natural to use it here. Don’t do things that don’t add value. Time is precious, you are here on Earth for a brief period and then you’ll go back to the soil. Spend your time as you spend your money – consciously.Every time you pick up material to read, ask yourself: “Is this adding any value?” If you’re reading something you already know, or something you don’t think is relevant, why keep doing it?I found that many books didn’t benefit me – I dropped them in a few minutes. For some, I didn’t bother with a replacement – I just left that and googled if I needed to know anything specificWhere should you spend your time?To identify what’s important and worth giving time, I used these 3 attributes.Reward – Reward is how many questions usually (you can’t be sure) come from this topic. How do you know this?Previous year papers. I’ll mention some of the things I recall, but every year this will change as new papers come, and you’ll need to do some work by yourself too.Probability- How likely is it that this topic comes in the exam? This is your best guess (you cannot be 100% sure).Don’t confuse this with reward.Example: World Map, monetary policy questions –Low reward – rarely does more than 1 come from hereHigh probability – almost always comes every yearCost – How much effort is this going to take me? Effort means time and energy. This depends on youFor example, history, polity were simple because I enjoyed them,Geography, particularly the fact based part, was dull -which glacier is in which river (asked in Prelims) or which mountain range is the highest etc always seemed pointless. If I ever wanted to know, I’d google it, so I skipped a lot here. (It did not have high reward or high probability so I could leave most of it easily)If you understand this, you can try to divide the Prelims syllabus into 3 Buckets : A, B and C.I studied for perhaps 150-160 marks in prelims. This is Part A of prelims. I did not study for all 200 marks.30-40 marks I “skimmed”I read quickly but did not put too much effort to try to memorize everything because the material was huge and fact based – probability that the question would be based on the same fact I had read was almost zero. Reward is not particularly high – only a smaller number of questions come from here.This is Part B of prelims. (2019 Paper: Ranyo Ashoka question, name of a specific city in Harappan civilization, matching glaciers to rivers – I’m sure these were in some book, but I didn’t know them because I never studied for them)Rest anywhere from 5 (if lucky) to 20 (if unlucky) marks are Part C. This I left to God. Either I would eliminate options and guess or skip the question entirely. 2019 Paper: Tansen question – could be guessed (shown later), while the question on Saint Nimbarka I left (I could not guess).So everytime I read anything – a book, news compilation – I would read the words and also classify the material as A/B/C.Approach for Parts A, B C:Part A -Needs conscious effort to retain in your memory –Understand the idea wherever possible (history, Science & Tech),Or try to remember the fact (such as Article 142 – SC can pass orders to do justice).Part B: Come here after Part A is covered decently. Look at the material carefully, try to make a note of it, and move on. If you can retain it in your mind, it’s good. If you can’t, don’t worry about it. You can still try eliminating options. I tried a different way to recall them – when I see the “correct” option I would remember reading it somewhere – that option sticks out. So I didn’t try to forcefully remember it – only enough to recognize the right option when I saw itPart C: Ignore. These are outliers. They are traps to suck your time and energy.Guess if possible, else leave entirely. Questions such as on Tansen, and Saint Nimbarka are here (try memorizing every singer/saint’s life and you probably won’t clear the exam).Classifying Material as A, B, CSo, the question is – where to spend your time? Most of it should be Part A.Part AHigh Reward – whether cost is low or high, probability is low or high doesn’t matter, you must focus here.High Probability – I would recommend studying for this too. One or two at most come from here, but they almost always come every year, so why let them go?World Map -question on matching sea/country came in 2019Monetary Policy – money multiplier came in 2019, (previous years I think impact of raising interest or money supply came)Reports published by UN, WB, WTO, WEFTopics like National Parks/Wildlife sanctuaries I found dull – memorizing facts – but they have high probability so I didn’t leave them. Still, you can make it more interesting in your own way – I used the maps I found on quora (shared on my blog) to make it easierAgain, keep in mind cost to benefit ratio – I didn’t bother learning all mountains, ocean currents in the world because it had high cost for me (not particularly interesting) – only art & culture maps, wildlife sanctuaries, and only important lakes and important folk dances. One question on wildlife sanctuaries did come (Agasthyamalai), and it was a hard one but I could guess the answer because I’d done mapsLow cost – this means a subject you find easy / interesting (depends on you).If it’s a subject which is low reward or low probability, study it whenever you’re bored of the above two sections.If it’s high reward/high probability – then you’re set, you will study it anyway- but don’t spend all your time here either.Low cost, High reward, High Probability is obviously the best. But you will want to focus on high reward or high probability topics even if the cost is high.Some GeneralizationsThese are my own observations. They will change over the years, and you will have your own observations too which might have something I have not written here. If these help you, make use of them. These are general guidelines only – broad subjects to focus on.Part AEnvironment – always important since prelims is also for forest serviceActs, international agreements (Stockholm convention, UNFCCC etc) and major organizations, small notifications (a very specific question on bamboo came) fit here.Environment is a very broad term, and very closely linked to current affairs– plastic/hazardous waste rules, ocean microbeads, even renewable energy (HCNG – part science, part environment) – all came in 2019).Just take a glance at the papers in recent years – I think for prelims I spent more time here than any other topic.“Agriculture” is a very important topic, and not very distinct from environment (2019 Questions: the biggest rice exporter, which crops are indigenous, Kharif crops cultivation area)Art and Culture/Ancient history – If you’ve prepared seriously, you must know that dynasties and kings don’t matter that much (save a few).You won’t be asked which king married which princess, and even questions about which dynasty defeated which are highly highly unlikely.Even when they do matter, it’s usually related to art and culture (Jahangir – portrait painting in prelims, Krishna Deva Raya question in Mains one year)It seemed to me that Ancient, and even Medieval history are almost nothing but art and culture. See the past questions – the works of Kalidasa, who was preaching when Babur took over – these are about literature, religion.The questions this year – portrait painting, saints, Ranyo Ashoka, Kalyana Mandapa, Tansen – these are almost all about art, dance, architecture, religion (one question on Harappan sites does not fit here though).These are also hit or miss – either easy (portrait – Jahangir), or ridiculously specific facts (Saint Nimbarka was a contemporary of Akbar/Saint Kabir was greatly influenced by Shaikh Ahmad Sirhindi) which I had no clue about.You don’t really study with the hard questions in mind. The easy ones you should not miss – anyone who has done basic reading of medieval would know Shah Jahan is associated with architecture, Jahangir with portrait painting. The hard ones – either guess (like Tansen – I’ll come to it later), or leave (like Saint Nimbarka – they are part C).Extremely important topics like Buddhism, Jainism must be done with detail – they have high reward and high probability.When I say Buddhism, I don’t just mean Buddhism – I consider Ashoka/Mauryan empire, Harsha & Xuanzang, Megasthenes, Gandhara/Mathura/Amaravati art, Ajanta & Ellora – everything with some connection to Buddhism is important, even if the connection is faint.Similarly, if you break ancient/medieval down – topics like Maurya, Gupta empires, Harsha, foreign travellers, Indus valley civilization are high reward and high probability, but Satvahana, Chalukyas, Hoysalas and smaller kingdoms are not (except where they relate to art, culture – such as Vesara temples, Buddhist or Sanskrit inscriptions).Same for Medieval -Bhakti saints, Turkish sultanate, Mughals, Vijaynagara, Mysore, EIC conquest are important; which king won which battle with how many soldiers, who betrayed whom at Plassey are not.For Modern history (after 1757), most of it is important – it’s worth spending time here. Same for Polity. These static books are worth the time – they help in Mains and Prelims both. I used Spectrum and Laxmikant (use any book that benefits you). These are high reward and high probability for Prelims and Mains, don’t neglect them – do them fully, for it’s very hard to predict what can come from these two. These are very static (even in polity, the same issues like Anti-defection act, Article 142 pop up every year – these are not really dynamic)Science and Tech is also high reward, high probability – digital certificates, gene editing, new sources of energy, AI will only keep increasing every yearMostly it’s either definition or application in most cases that matters. Who made it is typically irrelevant. Those comfortable with science will find that logic can help you guess.Economics – there’s usually one conceptual question on monetary policy, and the remaining are factual – but the facts are usually linked to current affairs (covered below separately)Geography – specific topics like cyclones/earthquakes/crop types and examples/forest covers from NCERT for prelims. Mechanisms of volcanoes and other conceptual topics (PMFIAS explained well) – help in mains.Most of NCERT I found to be irrelevant- NCERT geography facts like baccoliths/dykes, dunes, landforms – I didn’t see in the recent 5-7 years, they seemed to come long ago only, and again, I found it to be high cost (very boring) to mug such facts so I skipped this.Similarly, I took one look at GC Leong which I was recommended by several sources online and ignored it – too much text and facts, too fat a book and too little benefit to be worth it I thought. Use it if it helps you – don’t use it because someone said you should, don’t reject it because I said I didn’t use it.These are “guesses” – you can never be 100% sure, but it’s highly likely that these topics will cover a huge chunk of the paper. I thought Space would be a high probability topic but it wasn’t (gravitational waves came, but I’m talking about fact based questions like Gaganyaan, Aditya L1, Mars Rover etc).Don’t get fixated on any book. I saw everyone uses Nitin Singhania but I didn’t like it for some reason, so I used the notes of Nitin Sangwan. It doesn’t make a difference, there’s no prescribed syllabus.Use the book you think is benefiting you. How do you know it’s benefiting you? Look at your scores in mock tests, they will tell you.But don’t use more than one book per topic – unless you think it is benefiting you. The reason is simple. When you read the first book, 90% of things are new, and every hour you will learn a lot.When you read the second book – assuming the first book was good and you read it seriously – hardly 10-20% things will be new, if that. So the return on your time is very poor. If you must read more, make sure it is for the high reward, high probability subjects – reading international affairs or state dances/festivals from 3 books is terrible use of your time.Part BThis is topics likeBuildings/temples, folk dances and other state/region specific facts (excluding what I mentioned above) in art and culture. Such as which state has which dance and so on.Medieval/Ancient history facts – such as the question on officers like “Amil”, “Mil Bakshi” in 2019 (these facts are not to do with art and culture)“Extra” facts about Part A topics –A question came on which national park lies completely in the temperate alpine zone – I’d studied national parks locations, I didn’t know these additional details about most parks (save the very obvious ones like Loktak lake, Kaziranga etc)There are thousands of such minute details you can go into for every park, every dance/festival, every ancient empire. I figured all my time and energy would go into that so I didn’t spend too much time hereVery, very specific facts of Part A topics like environment, agriculture – jowar being cultivated more than oilseeds in the last 5 years (who really tracks this) and so onPart B is not what you leave completely (that’s Part C). Part B is what you usually read in a newspaper (if you read one), or in whichever monthly compilation you follow (I used insights for prelims, visions for mains – it won’t matter which you use, choose the one that works for you). It’s up to you if you read a newspaper – I would skim it while eating because I get bored otherwise. Honestly, it didn’t add much value – especially for prelims – but if you do read the paper, don’t spend a lot of time on it unless you feel it’s really helping you.It’s also those very specific details you see in history (Turkish Sultanate officers, Maratha minister titles) – usually those that are very long and cumbersome (Ranyo Ashoka sculpture – I didn’t know, since I hadn’t made a list of every sculpture, and the question on Harappan sites – I hadn’t memorized any site, only knew the major cities).These are facts which you might have read somewhere. I don’t think it’s worth spending all your energy memorizing them – they are just so many, you’ll almost never know the fact that actually comes in the exam (they could ask any of the Mauryan sculptures, any city from Harappa/ Mauryas/ Guptas or other empires.So if you read them, make a note of it in your mind, and go forward. Maybe you’ll remember it, maybe you won’t – but don’t spend a lot of time trying.Part CThis is the outlier. The questions on Tansen, Saint Nimbarka or anything that most people wouldn’t specifically know or even read. It’s there in Mains too – something like the question on CyberDome project.If you know it, you’re lucky, but if you don’t – I don’t think it’s a great idea to try to prepare specifically for these questions.Don’t see these in previous year questions and assume that the topic has become important. Just because a question on Tansen was asked does not mean next year there will be one on Abdul Rahim Khan, another of Akbar’s navratnas.This is a very low ROI – you’d cover huge amounts of material, hoping that one or two random facts come from it – and you probably wouldn’t even recall it because you read so much.Current AffairsI’ve put this separately because I’ve gotten so many questions about where to read current affairs from. And because current affairs is perhaps the most important thing for prelims.Current affairs is the Part A of Part A – if you see the paper, most of the high reward, high probability questions (environment, economics, science and tech, agriculture) come from current affairs.In 2019: Waste management rules, gene editing, largest exporter of rice in 5 years, Kharif crop cultivation trends, bank board bureau, inter-creditor agreement, even H-CNG – these are all current affairs.The rest of part A is static – polity, modern history, art and culture (what I mentioned previously), and major concepts,agreements and institutions in environment, agriculture which are the base on which current affairs builds on (so Paris Agreement would add on to UNFCCC, Stockholm agreement, Kyoto Protocol).There also isn’t really anything called “current affairs”. That’s just the name given to the newspaper and news compilations.If you really look at it – what is “Current affairs”? It’s just drawn out from the same topics – environment, S&T, agriculture, polity. Even History (anniversary of WW1 can become “current”), Geography (the Meghalayan age, for instance).But current affairs is the most important – because if you see the questions on environment (Compensatory Afforestation Fund, amendment to Indian Forest Act for bamboo, Solid waste management rules etc) and economy (inter creditor agreement, banks board bureau) and even other acts – these all fit in current affairs also.Why I’m telling you this is that when you read current affairs, keep your Part A, B, C in your mind. Focus on the high reward, high probability news. Ignore the low value news. Monthly compilations are one or two hundred pages of densely packed text- you can’t remember everything, and you shouldn’t even try.Don’t treat current affairs as a separate subject where everything has to be remembered – you can always break it down and focus on the more important sections.How recent is “Current”?Don’t assume “1 year” or “2 years” is the extent of current affairs. That makes no sense – an issue like the New Education Policy or the Inter creditor agreement doesn’t “begin” one day and end.An example: The Plastic Waste Management rules were notified in 2016. It was current at that time. They were amended in 2018. It was current at that time also. A ban on single use plastic raised a lot of attention, and so did the commitment to phase out single use plastic by 2022 – it’s going to be “current” for at least a couple of years, probably longer. So an act made even a decade ago can still be “current” (it came in 2019). Bank Nationalization happened in 1969 – on the fiftieth anniversary (2019), it was current – so were issues related to it like Priority sector lending (you’ll notice Lead Bank scheme came in the paper).So the changes to EIA going on as I write this in 2020 mean that the original Environment Protection Act of 1986 and the old EIA are also current for 2020. The New Education Policy means that the Education Policies of the past such as the 1986 one are also current now.The year has little to do with it – you need to put the news in perspective. Identify whether it is important (Part A or B or C) and the topics it relates to. It’s not as hard as it seems because 1) Most news is irrelevant and 2) There is a huge overlap every month – you’ll come across the same issue for months.“News” like anniversaries – Gandhi Jayanti, Independence Day and so on aren’t “news” – they come every year. Skip them.A lot of editorials are written by specialist researchers (Note : Specialist, not generalist) – you don’t need to remember the results of a random study by any university or researcher. For statistics, it’s better to rely on more reputed organizations – UN, World Bank, Niti Aayog and so on instead of these – if statistics come in prelims, it’s from here, and if you want to mention figures for mains, it’s better to mention a source the examiner has heard of.And stats related to forest cover, agricultural crops are more important than others (they’re part A – both questions came this year). But that doesn’t mean every little discovery or study coming in The Hindu’s science page is worth spending time on – it’s usually the major reports, especially by GoI – like the Forest Survey Report – that matter.When you do the world map, current affairs should be covered here too – Crimea, Syria, Palestine, Afghanistan, Chechnya – you should know the places in the news. You don’t need to read in depth for this if you don’t want to – a glance at a headline is enough to know the name of the place (for example, Idlib in Syria was in the news for the push against IS).Again, the news can help you – if Belarus is in the news, you should know where it is in the map – especially that it touches Russia, Ukraine, Poland and 2 Baltic states, and that Minsk is the capital – you should not care what the President’s name is or how long he’s been in power (personalities don’t matter in current affairs).Don’t chase trivial facts. It doesn’t matter whether the repo rate is 4.75% or 3.25% , whether GDP growth rate is 3.4% or 5.9% – it’s highly unlikely to come, since these facts change every 2 months/quarter. Instead, learning the concept of how repo rate controls inflation, what the components of GDP are and the method of estimating GDP is more useful for economics. Keep in mind trends – GDP growth rate trends, inflation trends – whether they’ve been increasing or falling – these are a little important but not much (and watch out for the word “steadily” or “continuously” in such questions – I’ll explain later)Lastly, you must use your own judgment about many of these things. The subjects I found boring could be interesting for you or vice versa. Or you might feel that you need to study for more marks, say 180 or 190, rather than 150-160, to achieve the cutoff. This is something only you can answer.Again, these are assumptions based on what I felt is worth spending time on. Everyone makes assumptions – no one can possibly read every single thing. Whatever you assume, be aware of your assumption – don’t blindly read new material and don’t blindly skip material.2. GuessingI’ll briefly mention some guessing techniques, since most of them you might be aware of. You should read the blog by Abhijeet Sinha if you haven’t already.Extremes are generally wrong (it’s a paradox to say extremes are always wrong, that’s an extreme itself). Meaning “only”, “always” particularly, and sometimes even “first”, “last”.I’ll also tell you that words like steadily, continuously – are very extreme and hence likely to be wrong. “Steadily/ Continuously Decreased” implies that there hasn’t been any increase at any point of time – very unlikely (see example 6 below)Language tells you a lot, especially for space. Cassini Huygens – Cassini has the ring of an Italian name – Italy and in fact Europe were involved here. Sputnik is always going to be Russian. (Mentioned in the blog above)Most of all, common sense can be your friend. This gets easier with practice. I’ll illustrate how common sense can help you solve some questions.I’ll go to some examples, since that’s the best way to show how you can guess. These are all from 2019Example 1With reference to Asian Infrastructure Investment Bank (AIIB), consider the following statementsAIIB has more than 80 member nations.India is the largest shareholder in AIIB.AIIB does not have any members from outside Asia.I’m sure most of us could guess this. Option 3 is extreme – that could give you the answer – why would AIIB (and China, always hungry for influence, not let outsiders in? But let’s imagine we’re stuck between Only 1, Only 2, 1 and 2 – eliminating option 3 isn’t enough.Ask yourself two things- would China let India be the largest shareholder in a bank based in China (if you’ve studied for the exam, you must surely know something about AIIB)? Unlikely. Secondly, shares are based on how much wealth you put up- and remember that China has very deep pockets.Example 2What was the purpose of Inter-Creditor Agreement signed by Indian banks and financial institutions recently?(a) To lessen the Government of India’s perennial burden of fiscal deficit and current account deficit(b) To support the infrastructure projects of Central and State Governments(c) To act as independent regulator in case of applications for loans of Rs. 50 crore or more(d) To aim at faster resolution of stressed assets of Rs. 50 crore or more which are-under consortium lendingInter-Creditor. Creditor. To give credit is to lend, creditors are usually banks and institutions that give loans. Inter. Inter means between or among, so international is inter + national meaning between nations. Inter creditor is between creditors – between banks.Now, ask yourself: Why would creditors lessen GoI’s deficit? They have nothing to do with deficits – that’s not their job, even for PSBs, forget private banks. Option 2 is also not hard to eliminate – creditors don’t support infrastructure projects, they just want their money back from borrowers. Option 3 is even easier- the creditor can’t be the regulator (can a batsman or bowler be the umpire?) Option 4 – the word lending should be the biggest hint – is the right answer – creditors only want their money back, they just want to resolve stressed assets fast.Example 3Consider the following statements:Petroleum and Natural Gas Regulatory Board (PNGRB) is the first regulatory body set up by the Government of India.One of the tasks of PNGRB is to, ensure competitive markets for gas.Appeals against the decisions of PNGRB go before the Appellate Tribunals for Electricity.Why would PNGRB be the first regulatory body? A newly independent country would have more pressing concerns, especially one whose economy is not based on petroleum. Option 2 is reasonable, option 3 is hard to guess – in this case, eliminating one was enough.Example 4Which one of the following is not a sub-index of the World Bank’s ‘Ease of Doing Business Index’?(a) Maintenance of law and order(b) Paying taxes(c) Registering property(d) Dealing with construction permitsEODB is a buzzword you should be aware of, though knowing all the sub-indexes might be too much. This was in part B – I’d read it, and had a decent idea. But “maintenance of law and order” is a very vague term – no index would measure such a thing reliably, and especially not a business one. It’s not a very hard guess if you think about it.Example 5With reference to India’s Five-Year Plans, which of the following statements is/are correct?From the Second Five-Year Plan, there was a determined thrust towards substitution of basic and capital good industries.The Fourth Five-Year Plan adopted the objective of correcting the earlier trend of increased concentration of wealthThe Fifth Five-Year Plan, for the first time, the financial sector was included as an integral part of the Plan.Select the correct answer using the code given below.(a) 1 and 2 only(b) 2 only(c) 3 only(d) 1, 2 and 3If you’ve prepared decently, you should know the 1st FYP focused on agriculture (a food deprived country has to eat) and the next one on industries. That’s all I knew in this – that the first sentence was right. And it’s hard to imagine that for 20 years the financial sector wasn’t included in a FYP – eliminating option 3 is not too hard.Example 6With reference to the cultivation of Kharif crops in India in the last five years, consider the following statements:Area under rice cultivation is the highest.Area under the cultivation of jowar is more than that of oilseeds.Area of cotton cultivation is more than that of sugarcane.Area under sugarcane cultivation has steadily decreased.Which of the statements given above are correct?(a) 1 and 3 only(b) 2, 3 and 4 only(c) 2 and 4 only(d) 1, 2, 3 and 4Steadily is an extreme word – it means that there has been no break. It’s very rare for any increase or decrease to be steady – especially an important crop like sugarcane. Option 1 is the best guess. Plus, rice is the major crop of India – statement 1 should be right (so b, c are eliminated).Example 7With reference to Mian Tansen, which one of the following statements is not correct?(a) Tansen was the title given to him by Emperor Akbar.(b) Tansen composed Dhrupads on Hindu gods and goddesses.(c) Tansen composed songs on his patrons.(d) Tansen invented many Ragas.I picked this example because it’s an outlier – most people wouldn’t know about Tansen. And because it’s an example of simple sense. Most of us would know Tansen was a singer – what’s so hard to believe about options b, c and d, especially if you know about Akbar and his patronage for all faiths? a seemed to be the only option that could be not correct among these.3. Mock TestsSince someone asked how to use mock tests, I’ll mention what I did.Mock tests are for 3 things I feelLearn how to guess the answer when you’re not sure – by practising guessing in the mocksDecide your strategy of attempting the paper and practice in advance – you don’t want to make mistakes on the day of the examSome people bubble the OMR for the questions they know immediately, others wait till the end (I did this) – whatever you do, try to attempt your mock tests the same wayI would mark on the question paper – whether I knew it, if I could eliminate any option, or if I should guess / leave itThis meant I’d finish the paper in 90 minutes and leave 30 minutes for bubbling – because ultimately it’s what you bubble that counts.Last – Use mock tests to increase your knowledge, but very selectivelyMost tests give gigantic solutions – the question asks about X, but the solution covers A – Z. You’ll spend hours reading through it.If the question is of Part A, make an effort to remember it (not the whole solution, only what you consider important).Otherwise just see the solution and note it in your mind (Part B), or ignore it if it’s a stupid question (Part C – and I found most tests had a lot of these)Don’t get disheartened by your scores. A lot of tests are made hard by asking obscure, and often idiotic questions. I’ve had scores from 80-90 in one and the next day between 130-160. Just try that the number of low score tests reduce over time, and try to figure out your attempting strategy – whether you aim for accuracy or you attempt as many as you can (I did the 2nd one, because if even one in 4 guesses is right, you break even).If your scores are consistently low – then you’ll need to put extra effort. But this effort must not be blind. Your scores are data; data always tells you something.Break down the paper – place each question in its category, such as economy/ environment / modern history. If you want, go even further and classify it as static or dynamic.Find out where you’re performing worst – meaning(your marks) divided by (total marks) is the lowest-spend time there, especially if that topic is in Part A. And it probably will be in Part A because that’s where most questions come from – if you do badly in Part B or Part C, your score won’t be affected that much.4. Day of the ExamWhen you give the exam, don’t get flustered when you see questions from Part B and Part C and realize you don’t know them. This was the plan – you probably didn’t study for 200 marks. For example, in the 2019 paper, there was a question about matching glaciers to rivers – something I’d ignored. I’d advise you to skip it if you can’t guess immediately and move on – don’t waste time on questions you don’t know and miss out on ones you do. Instead, come back to it at the end after you’ve bubbled everything. If you let them affect you, you’ll make mistakes on those questions you know.Realize these facts100 questions in 120 minutes – on average, 1 minute per question (20 minutes for bubbling)Bubbling is everything – if you knew the answer and didn’t bubble, it’s useless. If you bubbled it right by a fluke, it’s as good as knowing it.A bubble once bubbled can never be undone.If you made an error – accidentally bubbled the wrong option or you realized after bubbling that your answer was wrong – move on.What has been done cannot be undone – don’t let it affect the remaining questions, nor your morale.Fact 1 is irrelevant once you’ve bubbled the questions you know (near the end of the exam).Yes, 1 minute per question is a good standard, but at the end of the exam you might have 5-10 minutes left and perhaps 3-10 questions unbubbled – these are the ones you have no idea aboutIt doesn’t matter if you spend 4 or 5 of these minutes on one of these questions – anything at this point is a bonus. Try to give all your focus on just getting that last 1 or two guesses – it can make a big difference.CSATI didn’t do anything for this. I can only give you a rough guide to know if you should prepare for it. Solve a previous year paper in exam-like conditions and see your score.If you get 130+ (2x qualifying marks) – you probably don’t need to.If you get 100-130 – Give a couple of previous year papers, maybe read a bit for whichever topic you’re losing marks in (but don’t spend too much time here)<100 – Find out which topic you have problems in, consider buying a book online and solving it<66 – Prepare seriously for CSATJust before PrelimsFinally, as Prelims nears, use your time well. Keep in mind ROI – don’t spend hours on things you know very well or that are highly unlikely to come (outliers)If you’re confident, you can probably focus on mains or just relax a little now so you won’t need much of a break after prelims. Depends on you.If you’re not confident – it’s probably better to focus onPart A – the high scoring topicsThose topics you aren’t doing well in (if they are in part A, otherwise don’t spend a lot of time here)The number of mock tests you do depends on you (since many people keep asking this). You should know when you’ve have enough and any additional tests are only a burden, not any help to you.Just after PrelimsOne last suggestion – after your exam, if you’re anywhere near the cutoff (even if you think there’s less than 1% probability of qualifying) – ignore the answer keys and either take a break if you need one or start studying for mains.What’s done is done; nothing is going to change the bubbles you made in the sheet and the cutoff, so why waste the time you have on things you can’t control? And assuming you plan to appear again if you don’t make it, the preparation for mains won’t be wasted. And even if you won’t appear again – would you rather study needlessly for 1 month, or appear for Mains with one month less preparation?It’s Pascal’s wager – just as people often have more to gain by believing in God than not, you have much more to gain by believing you’ve qualified for mains.All the best.

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It can be classified as all movable good, which can be bought and sold, except for action claims and money.Commodity trading in India started before that time when it was also in many other countries. But, foreign invasions and ruling, natural disasters, and countless government policies and their modifications were the main reasons for the collapse of commodity trading.Today, even if there are various other forms of trades in the stock market/stock market, commodity trading has regained its importance.Where do you invest in goods?As listed below, there are six major commodity trading exchanges in India.Multi Commodity Exchange - MCXNational Commodity and Derivatives Exchange - NCDEXNational Multi Commodity Exchange - NMCEIndian Commodity Exchange - ICEXAce Derivatives Exchange - AceUniversal Commodity Exchange - UCXThe Forward Markets Commission (FMC) merged with the Securities and Exchange Board of India (SEBI), the regulatory body of commodity trading.Commodity trading in these exchanges requires standard agreements according to the instructions so that the trades can be executed without visual inspection. In general, objects are classified into four types:- Metals - Gold, Gold, Platinum, and Copper- Energy - Crude oil, natural gas, gasoline, and heating oil- Agriculture - maize, beans, rice, wheat, etc.- Livestock and meat - eggs, pork, cattle, etc.How does it work?Buyers and sellers can either trade a commodity in the spot market, where the buyer and the seller complete their transaction on the basis of current prices or in the futures market immediately.Commodity futures trading commodity governs commodity futures trading through commodity exchange act 1974 and commodity futures Modern Act 2000 through its enforcement.CFTC works to ensure the competitiveness, efficiency, and integrity of commodity futures markets and protects against it. Manipulation, abusive business, and fraud.There are six major commodity exchanges in America. New York Mercantile Exchange, Chicago Board of Trade, Chicago Mercantile Exchange, Chicago Board of Election Exchange, Kansas City Board of Trade and Minneapolis Grain Exchange.New York Mercantile Exchange Inc. The world's largest physical object is the Futures Exchange. When the hours are combined for open outreach and electronic trading, some exchanges are open for about 22 hours a day.Commodity exchanges do not determine the prices of traded commodities. Rather, the prices of supply and demand items determine.Members of the Exchange, who work on behalf of their clients or themselves, engage in open-open auctions in the pits on the exchange floor. During the open-ended auction, buyers and sellers declare their bid and offer.When two parties agree on one price, the business is recorded both manually and electronically. The exchange then transmits price information to news services and other reporting agencies around the world.How to invest in commodities?The best way to invest in commodities is through a futures contract, which is an agreement to buy or sell a specific quantity of the commodity in the future. Futures are available in every category of commodity.Merchants use these contracts in the form of prevention of good trade or futures associated with swing value of raw materials. In business, high risk for amateur investors is included in the business.What are the advantages and disadvantages of futures?Advantages of futures-Futures are highly investedFuture markets are very liquidIf done carefully, the futures give huge profitsControlled Minimum Minimum Deposit Accounts and Full-Size ContractLong or short future can easily be set as a goalLoss of futures:Futures market are unstableDirect investment in the markets is of high risk, especially for novice investorsAdvantages and disadvantages are taken advantage of.The unpredictable movement of business before closing its positionIn the commodity futures market.more than 100 commodities are traded. Of these, 50 items are actively traded. These include bullion, metals, agricultural commodities, energy products, etc.What are Exchange Traded Funds and Exchange Traded Notes?Investors can participate in commodity price fluctuations. Trading in the commodity is possible without investing directly with Exchange Traded Fund and Exchange Traded Notes.Using forward contracts, there is an index in a particular object or group of objects.The price of these indices is usually tracked by commodity tips ETFs. However, ETFs is dedicated to imitating value or fluctuations in the commodity index supported by the issuer.ETFs are unsecured loans and there is no special brokerage account required for both Ef and Etn investments.

1 Background: As Ezra Weston Loomis Pound (1885-1972) the American poet put it“Let us sing of perfection, my songsWe will get ourselves somewhat disliked…“As I may demonstrate. See Common Responses To Shimomuran Economics1.1 Summary This short article summarises the fundamental factors and lists the historical precursors underlying the development of Shimomuran-Wernerian Macroeconomics.There may be much more than a million words of historical and recent evidence supporting this fresh-to-the-West economics so I have adopted the strategy of listing some sources without fully quoting and illustrating their relevance.This article is a by-product of my ongoing University of Southampton PhD studies focused on The integration of Shimomuran with Wernerian Macroeconomics.1.2 Definition: Shimomuran-Wernerian Macroeconomics (SWM) is the integrated derived-from-observation economic model developed within the framework of the German Historical School of economics.See https://en.wikipedia.org/wiki/Historical_school_of_economics1.3 But SWM is a variant of the German Historical School of Economics. The fundamental tenets of that school were:“The historical school held that history was the key source of knowledge about human actions and economic matters, since economics was culture-specific, and hence not generalizable over space and time. The school rejected the universal validity of economic theorems. They saw economics as resulting from careful empirical and historical analysis instead of from logic and mathematics. The school also preferred reality, historical, political, and social, as well as economic, to mathematical modelling.”In general I am in almost complete agreement with these tenets, with one exception: a proper and thorough intellectual analysis of the economic history of the high-growth and socially advanced economies can produce a practical, realistic macroeconomics of general applicability. That is what I think I may have may have done.The specific realities of the Wernerian observation - that well funded SMEs are the major source of invention and innovation - can be married to the Wang-Anshi/Shimomuran Central Banks investment Credit Creation to produce a more perfect union of an all-factors economic model.1.4 The Historical Examples of Shimomuran-Wernerian MacroeconomicsThese are:The actions of Wang Anshi, the first investment credit economist, who was the Prime Minister of China under the Shenzong Emperor during part of the Song Dynasty, who created the first welfare state and Chinese economic dominance during the 11th century: the relevant dates are Wang Anshi (1021-1086) Prime Minister of China (1070-1076) Shenzong Emperor (1048-1085) Song Dynasty (960-1279) See Part 2 ofGeorge Tait Edwards's answer to What are major Chinese innovations?The Hidden History of Japan and its relevance to the four Tokyo Consensus Nations - see The Hidden History Of Japan and its Relevance To The Economic Miracles of the Tokyo Consensus ZoneThe life and times of Dr Osamu Shimomura (1910-1989)- see https://medium.com/@georgetaitedwards/dr-osamu-shimomura-1910-89-his-major-achievements-be2ad3e39e77 and The Master Economist and Poem for The Great ShimomuraThe rise of China 1975-2018 and its implications - see What did China get right in its economic and social development which the USA got wrong?1.5 The counter-examples of credit restrictions and the results of the Spenglerian Rule-For-The-Rich EconomiesOswald Spengler has argued at length in the first volume of The Decline of the West that the normal evolutionary development of all democracies is their capture by their strongest lobbyists, by their rich and powerful elite. It cannot be denied that this has usually occurred during the last thousand years in all previously high-growth states whenever an elite has taken over the economy and ran it for their benefit. Some notable examples are:In the Yuan Dynasty of China (1279-1368) in which the Mongols ruled for only their benefit, forbidding the Han Chinese to learn Mongolian and printing money for Mongol consumption but neglecting economic growth, road repairs and the rice terraces, thus leading to inflation and starvation and the shortness of the Yuan dynastyIn 15th century Conservative China where the previously great Chinese Navy was destroyed through financial frugality by the ConservativesIn the Thatcherist UK (1979-now) where finance was prioritised without any manufacturing policy thus guaranteeing the continuing relative decline of much of the UK and the destruction of the previously flourishing manufacturing industryIn the post-Reagan USA 1980-2014 where the relocation of the light passenger car industry abroad created worker poverty and the US eight rustbelt states located below the Great LakesIn the climax of Washington Consensus/Austerity Macroeconomics and the trend reduction of British and American life expectancies 2015-2018 See https://www.quora.com/What-does-the-practice-of-the-Washington-Consensus-of-macroeconomics-austerity-ultimately-produce/answer/George-Tait-EdwardsAll of the three major Western economies - the USA, the UK, and the German-dominated EU - have now fallen into the trap of economic decline identified by Spengler and have joined the ranks of the poverty-increasing, murdering-the-poor economies due to Conservative attacks on the living standards and health services and social support systems of of the poor.That was not inevitable although it is obviously historically usual.1.6 The National Economy Examples Where Local Banks Produced ProsperityThe first Western industrial revolutions: Scotland 1700-1800, England 1760-1880 SeeThe Scottish Industrial Revolution, or The Scottish First Industrial Miracle 1700–1800FDR’s economic miracle 1938-44 SeeFDR’s American Economic Miracle 1938-44, or the First Economic Bomb - The USA from 1938 to 1944 (Part 1)The economy of Japan 1945-2018 SeeHow Japan Zoomed From War Devastation into Prosperity 1945–52The economy of China 1975-2018 See https://www.quora.com/What-factors-contributed-to-the-rise-in-the-Chinese-economy/answer/George-Tait-Edwards1.7 The 4th industrial revolutionsThe Huawei development of G5 creates the possibility of a ‘Fourth Industrial Revolution” which has partially come into being through the computer integration of an AI/InputMinimisation/AbundantCapital/ KeyPartsIntegration/ IoT within the upgraded minimum critical path “pulse-incorporating” assembly line. Only Germany and China are implementing that possibility at present although it provides a potential upgrade path for all economies. See Industry 4.0 - Wikipedia which says“In essence, industry 4.0 is the trend towards automation and data exchange in manufacturing technologies and processes which include cyber-physical systems (CPS), the internet of things (IoT), industrial internet of things (IIOT)[2], cloud computing [3][4][5][6], cognitive computing and artificial intelligence.”And“The concept includes:Smart manufacturingSmart factoryLights out (manufacturing) also known as dark factoriesIndustrial internet of things also called internet of things for manufacturing [7]“Industry 4.0 fosters what has been called a "smart factory". Within modular structured smart factories, cyber-physical systems monitor physical processes, create a virtual copy of the physical world and make decentralized decisions. Over the Internet of Things, cyber-physical systems communicate and cooperate with each other and with humans in real-time both internally and across organizational services offered and used by participants of the value chain.[3] The determining factor is the pace of change.”The economies introducing this industrial evolutionary upward step change areGermany’s Industrie04Made in China 2025 -see https://www.quora.com/What-is-the-first-MadeInChina2025-Computer-Integrated-IoT-ManufacturingAssembly-line-and-how-productive-is-it/answer/George-Tait-EdwardsThe German-Chinese comparison of the 4th Industrial Revolution is at my Quora site George Tait Edwards's answer to What is the comparison between the German industrial policy "Germany 4" and "Made In China 2025"?1.8 Three inadequate analysesDimitri Vittas and Roger Brown: A Response to Recent Criticisms July 1981 These two third-rate economists were employed by the Committee of London Clearing Banks to argue that the British banks were supporting SMEs and British industry when they were not. See pages 121 to156 [Section 5.2 :Comments on the Banks and Industry: Some Recent Developments] of my book The Role of Banks in Economic Development: The Economics of Industrial Resurgence, The Macmillan Press, London 1987.The George-Soros sponsored Capital by Thomas Piketty. This is in many ways a a parallel book to Oswald Spengler’s Decline of the West but Piketty’s book was financed by George Soros and provides many tables dealing with various aspects of the development of Western economies. George Soros has never funded any research into Asian economic development so Piketty’s book ignores Asian economic understandings. Piketty’s solution - of taxing the rich more - cannot be implemented because the rich have alienated much and probably most of their assets abroad for tax avoidance or evasion purposes (as demonstrated by the Paradise Papers) and who owns what cannot be determined.Capitalism with Chinese Characteristics,Cambridge University Press, 2008 by Yasheng Huang. This is quite a good academic book within its self-set limitations. It makes no reference to previous Chinese economic dominance under the first investment credit economist Wang Anshi nor to the great growth of China under the Yongle Emperor nor to theJapanese Dr Osamu Shimomura origin of the Chinese PBoC credit creation economy. I think these are weaknesses.1.9 Granger Causality AnalysisThis new statistical analysis of time series is the greatest advance in such analysis ever made. Its appropriate use is the best method of sorting the causative wheat from the background chaff noise in an objective, observer-removed and neutral basis.Most Western economic theory has not appropriately used this tremendous advance. It demolishes existing prejudices by demonstrating their irrelevance, and that might be a reason why.1.10 Professor Richard Werner’s use of Granger Causality CorrelationsProfessor Richard Werner has made the best use of Granger Predictive Analysis to determine the predictive relationships existing betweenJapanese Economic Development and previous investment credit creation by the BoJ andThe Japanese asset bubble of 1986-91 and the speculative credit creation by the BoJThese calculations form two of the major pillars of Shimomuran-Wernerian Macroeconomics.2 The economy of Japan1945-2018There were three phases in Japanese post-WW2 Economic policy: These were:No-cost BoJ investment credit Shimomuran Macroeconomics which worked in Japan from 1945 until 1985The BoJ speculative credit boom started in 1986 which fuelled Japan’s great property and asset boom and collapse from 1986–91. (You should note that Dr Osamu Shimomura (1910–1989 was unwell during 1985, and when I invited him to a 1985 Major Projects Meeting at Maudlin College Oxford sponsored by the UK Government’s DTI, Shimomura replied that his doctors had advised him that he was so ill it was unwise for him to travel outside Japan. I stIll have that letter in my thousands of papers of correspondence.)The post-1991 WCM period “Princes of .the Yen” sat on their hands and did nothing to create credit for economic development. See Princes of the Yen 2003 by Richard Werner.3 Granger Causality AnalysisThis is the most significant development in the study of economic time series, is Sir Clive Granger’s (and Robert Engel’s) Granger Causation Analysis.Clive Granger received a Nobel Memorial Prize in Economic Science in 2003 (see clive granger nobel prize) and a Knighthood in 2005 both distinctions given in recognition of that outstanding advance.See Granger causality - Wikipedia and Scholarpedia’s Granger causality.The significance of Granger Causality is that, if properly conducted (and it is often not done correctly in the internet and internet examples) it removes the observer and any possible observer’s prejudices from the statistical calculation of causality and identifies the objectively-demonstrated valid highly probable, significantly correlated “Granger Causality” linkages between the emerged target and the predictor time variables within the mass of time series data. It also produces results that indicate no significant relationships between time series which previous economics theories might have held to be valid.So, in summary, the computer analysis of large time series can advise the researcher about which significant Granger Causality relationships exist within the data and equally significantly, which do not, and probability estimates are given for the emerging equations and their constants within the emergent formulae.4 Professor Richard Werner’s use of Granger Causality CorrelationsIn my view, my mentor and tutor Professor Richard Werner has achieved a great deal.. He has caused the BoJ to split BoJ credit creation into its productive investment use during the post war period and into its the speculative use 1986–91 and later. To the best of my knowledge and belief, no other economist has done that.Werner has used Granger Causality Analysis to discover the statistically significant relationships betweenJapanese post-war nominal economic growth and BoJ/Shimomuran Investment Credit Creationand between Japanese nominal asset values and BoJ speculative credit creation.The significant formula for Japanese nominal economic growth emerges asPercentage economic growth in Year 3= (a constant times BoJ Credit Creation in year 1) plus (a constant times BoJ Credit Creation in year 2) plus 0.45There is a similar emergent delayed Granger Causative relationship between Japanese asset prices and the BoJ speculative credit creation. These equations and estimates of their validity and error limits are both in Professor Richard Werner’s two books “Princes of the Yen” revised edition,Quantum Press 2003 and “new paradigm in economics”.5 These proven Granger-causation findings form two of the seven major pillars of SWM.Central Bank Credit Creation can be positively used forAccelerating economic growth, if a Convoy System transmits that credit to through secondary banks to industry and to local banks to fund roadside and rail and bridges system and an external (eg OBOR/B&RI etc) communication systemFocused R&D to accelerate chosen required innovative developments (eg Wang Anshi’s 11th century welfare state of orphanages, hospitals, schools and universities and loans for farmers and businesses) and FDR’s funding of the Manhattan Project and the US 1960s funding of the Moon Project and Obama’s Green Initiative and China’s Huawei’s G5 and G6 which puts faster communication in the internet, and the photon singularity Micius Satellite advances, etc, etc.An inflation-limiting policy of dividing wage and salary awards into two tranchesEstablishing a lasting quasi-permanent upgrade in the nation’s industrial, economic, cultural and social potential eg in Germany’s Industrie04 and in MadeInChina2025 both of which will be “the Fourth Industrial Revolution” based on the computer-integrated G5/IoT/Production and Services Integrated/ Abundant CapitalProviding a continual annual increase in the wage awards of the workers along with a supportive government social environment which provides excellent housing, full-scale educational facilities, nearly full employment and SME funding within a full-range investment credit economy of abundant capitalSee How China Surpasses The EU and the USA, or The Seven Pre-Requisites for High-Growth Shimomuran…There may be two possible negative downsides of Central Bank Credit CreationSpeculatIve credit creation with its destructive asset boom and decline leading to long decades of decline (eg the Japanese Asset Bubble followed by three decades of decline so far, and the August 2008 Credit Crunch with its decade of low growth so far)Constrictions in credit, like the Princes of the Yen sitting on their hands and doing nothing to accelerate post-1991 economic development or like the deadly Austerity of Washington Consensus Macro-economics and its useless CBs who do not understand economic growth at all.6 DiscussionIf you take the trouble to analyse the Tokyo Consensus Zone economies, you can observe the pattern:Japan 1945–85 SWM economics with high growth, 1991-onwards WCM and low growth:South Korea 1960–1980 SWM economics with high growth, 1981-onwards WCM and low growth:Taiwan 1965–1985 SWM economics with high growth, 1986-onwards WCM and low growth: andChina SWM economics with high growth, 1975-now.WCM is a failed economics. See https://www.quora.com/What-does-the-practice-of-the-Washington-Consensus-of-macroeconomics-austerity-ultimately-produce/answer/George-Tait-EdwardsThis Answer because it refers to internet sites is not an acceptable final paper to my PhD researches which will conclude with a stand-alone paper integrating the agreed four major papers in my studies.7 ConclusionsShimomuran-Wernerian economics is The Most Successful Economic Policy of all time.Here is a quote from the Chinese Han Dynasty (206-220 AD) which perfectly encapsulates my attitude to research and is the foundation of Shimomuran-Wernerian Macroeconomics.This rock is located outside the Renmin University of Beijing and the engraved inscription of the rock reads, "Seek Truth from Facts” and comes from the 260AD Book of Han. SeeSeek truth from facts - Wikipediawhich says“ Beginning in 1978, it was further promoted by Deng_Xiaoping as a central ideology of Socialism_with_Chinese_characteristics,[3] and applied to economic anid political reforms thereafter.”I have obeyed this instruction in all of my research.