DU Financial Literacy (VAC): Most Repeated Questions from 17 PYQ Papers

Financial Literacy (UPC 6967000008) is a Value Addition Course that students from any stream can pick. Colleges set their own papers, and unlike many VACs this one has real calculations.

We collected every paper we have for this code, removed duplicate scans (the same paper uploaded by several colleges), and counted what keeps coming back. That left 17 distinct question papers, from 2023 to the 2026 exams.

All of them are free on the Financial Literacy VAC PYQ page. Open a few alongside this post.

A note on the counts: "12 of 17 papers" means 12 of the 17 distinct papers mention that topic somewhere (a short note, a 10-mark question or a numerical), not 12 exam sittings.

---

What the paper looks like

• Question 1 is "Write short notes on any two" (5 marks each, so 10 marks). It appears in 16 of the 17 papers.

• Then three or so 10-mark questions, one of which is usually a calculation. The 2024 paper whose header we could read says 30 marks, so check yours.

• There is a tax numerical in most papers. Read on.

The numerical that keeps coming back: total tax liability

Of all the topics, one dominates. "Compute the total tax liability of [a named person] under the old and the new tax regime" is asked in 12 of the 17 papers, and the old-vs-new regime comparison is mentioned in 16.

The people in the questions change, and their age matters because the old regime has different exemption limits for senior and super-senior citizens:

The theory versions come back too: "What is the New Tax Regime? How is it different from the Old Tax Regime?" (2024), "Old tax regime encouraged saving among citizens — explain" (2026), "State the list of deductions and exemptions not allowed under the new tax regime" (2023) and "Exemptions vs deductions" as a short note (2024).

The other topics, ranked

If you only have a week, practise the tax liability numerical, then expected return and risk, the annuity, and learn health insurance, UPI and SIP.

Questions that were repeated across papers

• Strategies to minimise risk. "Achievement of financial goals can be a very challenging process without proactive measures. Explain different strategies to minimise risk" is in both a 2023 and a 2025 paper.

• Risk and return of a security. The same probability table (Boom 0.30 → 30%, Stagnant 0.40 → 11%, Bear 0.30 → −17%) is in both the 2023 paper and a paper labelled 2025. Those two papers share the same question set (the tax question with X, Y and Z is in both), so either a college reused its 2023 paper or the year label on one scan is off.

• Spending management appears as a 10-mark question in 2023, 2025 and 2026.

• Ponzi scheme prevention is almost word-for-word in 2024 and 2025.

---

Worked examples from real papers

These use the numbers from the actual questions. Check the method, then do your own paper.

Expected return and risk (2023 paper). Boom 0.30 → 30%, Stagnant 0.40 → 11%, Bear 0.30 → −17%.

• Expected return = 0.30×30 + 0.40×11 + 0.30×(−17) = 9 + 4.4 − 5.1 = 8.3%

• Variance = 0.30×(30 − 8.3)² + 0.40×(11 − 8.3)² + 0.30×(−17 − 8.3)² = 141.27 + 2.92 + 192.03 = 336.21

• Risk (standard deviation) = √336.21 ≈ 18.34%

Annuity (2026 paper). Present value of ₹20,000 payable at the end of each year for 15 years at 8% p.a.

• PV = A × [1 − (1 + r)⁻ⁿ] ÷ r = 20,000 × [1 − (1.08)⁻¹⁵] ÷ 0.08 = 20,000 × 8.5595 ≈ ₹1,71,190

• If the question asks for the amount (future value) too: FV = A × [(1 + r)ⁿ − 1] ÷ r = 20,000 × 27.1521 ≈ ₹5,43,042

In the 2024 version (₹500 for 12 years at 6%) the paper gave the table values, so you only multiply: 500 × 16.8699 = ₹8,435 (amount) and 500 × 8.3838 = ₹4,192 (present value).

Tax liability under both regimes. The order is the same each time:

1. Old regime: gross total income − eligible deductions (for example Section 80C, up to ₹1.5 lakh, which includes life insurance premium and PPF) = taxable income.

2. Apply the slab rates for the person's age (non-senior, senior, super senior) and the assessment year given in the question.

3. Add 4% health and education cess, and subtract any rebate under Section 87A if the income qualifies.

4. New regime (Section 115BAC): far fewer deductions, different slab rates, same cess and rebate logic.

5. Compare the two and state which is lower.

Slabs and limits change between assessment years, so always use the table your class gave you for the year in the question.

---

How to use this for your exam

1. Do the tax numerical for at least three different people (a young earner, a senior citizen, someone with big deductions). It is in most papers.

2. Learn one worked example each for risk and return and the annuity. Both come back with new numbers.

3. Write a 10-mark answer on health insurance, spending management and digital payments. They are asked again and again.

4. Keep short notes ready for SIP, PAN, UPI, Ponzi scheme and time value of money. Any two are asked in nearly every paper.

Past repetition does not guarantee what comes next. Use this list to decide what to revise first.

Get the papers: Financial Literacy VAC PYQs · all Value Addition Course papers

Also read: Personal Financial Planning (SEC): most repeated questions · Best VAC courses in DU