Mine

root@newbox [/etc]# more yum.conf
[main]
exclude=apache* courier* exim* httpd* mod_ssl* mysql* perl* php* proftpd* pure-f
tpd* spamassassin* squirrelmail*
cachedir=/var/cache/yum
debuglevel=2
logfile=/var/log/yum.log
pkgpolicy=newest
distroverpkg=centos-release
tolerant=1
exactarch=1
retries=20
obsoletes=1
gpgcheck=1

# PUT YOUR REPOS HERE OR IN separate files named file.repo
# in /etc/yum.repos.d