Consequences of violating the code of conduct during the UPSC exam include disqualification from the examination, cancellation of results, and potential legal actions. This includes actions like cheating, using prohibited materials, or engaging in impersonation. Such violations undermine the examination's integrity and fairness. Therefore, candidates must adhere strictly to the rules and regulations set forth by UPSC to maintain a level playing field and ensure legitimacy in aspiring for civil service positions.