Directions (1-5): In the following passage against each number four words are suggested in bold which may or may not fit into the sentence contextually. These numbers are printed below the passage and against each, five options are given. Find out the most inappropriate option reflecting the word which must be replaced to give a contextual meaning to the paragraph. If no such error is there mark (e) i.e. “All are correct”, as your answer choice.
(1) As Yudhishthira contemplates the consequence of this innocuous game of dice, Shakuni prods him, taunts him and finally pushes him to wager his queen. Yudhishthira, the eldest of the Pandavas has already lost his brothers and all that he owns and is now on the verge of ruin. (2) A feeling of disgust fills the veracious halls of Dhritarashtra’s palace. The Rajasuya ceremony is quickly becoming the undoing of the greatest warriors on the face of the planet. Time stands still as Shakuni grins. Yudhishthira cannot decline Shakuni’s wager. He agrees — ”I will play you for her.” Shakuni heaves and rolls the dice and in an instant, he screams for joy — ”We have won” and thus begins the epic saga of Mahabharatha. (3) Gambling is a terrible vice and our history is filled with references carefully highlighting the destruction prevaricated by the game of chance. From Rig Veda to Manusmriti, Shakuni to Chanakya, gambling is expounded upon extensively so that people fully understood the grave implications of rolling dice. (4) However, we are a company that deals with information on stocks and financial markets and galvanizing the complex moral dilemmas implicit in gambling is frankly beyond our limited intellectual capacity. So, our focus today isn’t on the moral or the social impact of gambling. Instead, we will focus on how gambling has evolved in India and use Delta Corp, a listed gaming company as a blueprint to understand the current dynamics of the country’s Gambling Industry. (5) Delta Corp Limited (“Delta Corp”) is the only listed company that currently operates both physical and online casinos in India. It has over 1800 gaming positions and is quickly becoming a favourite among investors at Dalal Street. But before we look into the physical operations of the company, we need to vindicate a more modern phenomenon — Online Gaming and Delta Corp’s gambit in occupying the top place.
Q1.
(a) contemplates
(b) innocuous
(c) prods
(d) wager
(e) All are correct
Q2.
(a) disgust
(b) veracious
(c) ceremony
(d) undoing
(e) All are correct
Q3.
(a) vice
(b) prevaricated
(c) expounded
(d) extensively
(e) All are correct
Q4.
(a) galvanizing
(b) implicit
(c) intellectual
(d) dynamics
(e) All are correct
Q5.
(a) operates
(b) gaming
(c) vindicate
(d) phenomenon
(e) All are correct
Directions (6-10): Each of the following questions has a paragraph from which one sentence has been deleted. From the given options, choose the one that completes the paragraph in the most appropriate way.
Q6. When the Reserve Bank of India conducted a special investigation (Asset Quality Review 2015–16) into the quality of loans dispensed by big banks, few could have foreseen the lasting impact of the fallout that came afterwards. It forced banks to do away with the opaque policies______________. It was a moment of reckoning for the banking industry and it severely crippled many incumbents, except a certain HDFC Bank.
(a) of the puzzle begins with understanding commodities
(b) to financial institutions as well because like commodities, money behaves remarkably similar to one
(c) adopted to conceal bad loans and severely hampered their ability to grow
(d) financial metrics, metrics that help us understood things as they stand today
(e) to add market share by offering a better product
Q7. At the turn of the new millennium, Yogesh Mahansaria, a bright-eyed 25-year-old was asked to take control of a small tyre manufacturer in Aurangabad. He had been working there for a few years with his father and _____________________ and when his chance came, he did it with style. And then in 2006 when it seemed like the humble tyre company was just about to take off, he was abruptly asked to leave.
(a) inherent investment opportunity we need to take a small detour
(b) principal contention was that while food production would grow linearly, population growth would be exponential
(c) most controversial ideas of the 18th century there was considerable fear about humanity’s ability to survive
(d) was seen as someone who could turn around the company’s fortunes
(e) ushered in a new era and it’s now on a quest to reach a billion dollars in annual turnover
Q8. Today instead of looking at complicated operational metrics and financial performance of airline companies, we will do something different. We will instead look at air travel and why flying is a terrible experience. Why we have great fund managers [Buffett, Lynch] ___________________ in general and through it, you, fellow investor.
(a) practice is usually followed to fill up the seats left vacant by late or last minute cancellations
(b) confirmed-ticket customers check-in well in time for the flight to take off
(c) voluntarily vacating seats, which gives you some relief like booking on a later flight
(d) travel on the flight and reported for the flight well within the specified time
(e) hating on the airline industry and how all of this is connected to airfares
Q9. Overbooking is another menace that often ruins the flight experience. Airlines consistently overbook — meaning they book more passengers than the actual capacity of the flight in an attempt to maximize their profit-making potential. They do this by________________. But in the process of overbooking, customers often get bumped out of flights that they legally paid for.
(a) later time and other benefits or facilities according to the airline’s discretion.
(b) accounting for the total number of passengers who are unlikely to show up
(c) the request of the airline, it is taken as refusal to cooperate with safety procedures
(d) passenger can only be allowed to check into a flight with a boarding pass
(e) passengers do not vacate seats, the airline can deny them booking
Q10. Steel Manufacturers in China largely relied on Blast Furnaces to produce their steel. These old furnaces take in hot air and convert iron ore into steel under__________________. In a world that was moving closer to environmentally friendly alternatives, this was seen as problematic.
(a) long-term contracts could not fully capitalise on the new found riches
(b) terrible market scenario that prevailed in the Graphite Electrode
(c) extremely high temperatures and are considered to be prime polluters in Beijing
(d) severe depression crippled the entire industry
(e) stock as a worthwhile investment opportunity until the Chinese sneezed
Directions (11-15): In the following questions a sentence is given, some words are given in bold which may have grammatical or spelling error or they may be contextually incorrect. Two columns (I) and (II) are given, column (I) consists of bold words of the sentence and column (II) consists of the appropriate replacement for the bold words. Match the correct replacements. If the sentence is correct mark no error as your answer.
Q11. For its part, the IT department fears that start-ups may be used as convenient tools to launder illegally acquired money, so a tax on investments beyond a certain threshold is necessary to entrench such shady operations. But while the intent of such an angel tax may be justifiable, the arbitrary nature of it means the cost of unintended consequences could be larger than the supposed benefits.
(a) (A)-(D)
(b) (B)-(E) &(C)-(F)
(c) (A)-(D) & (B)-(E)
(d) (B)-(E)
(e) No error
Q12. Popular deposit schemes such as chit funds and gold schemes, usually do not come under the purview of government regulators. But these unregulated schemes have also been misused by some miscreants to culminate the money of depositors with the promise of unbelievably high returns in a short period of time. The Saradha chit fund scam in West Bengal is just one example of such a hienous financial crime against depositors.
(a) (A)-(D)
(b) (C)-(F)
(c) (B)-(E) & (C)-(F)
(d) (B)-(E)
(e) No error
Q13. Finance Minister Arun Jaitley engenders that revenues will not be hit by the rate cut. The implicit assumption is that higher sales volumes will compensate the rustic. Developers may be forced to raise base prices as critical inputs, particularly cement (taxed at 28%), eschew high levies that can no longer be offset.
(a) (A)-(D) & (B)-(E)
(b) (A)-(D) & (C)-(F)
(c) (B)-(E) & (C)-(F)
(d) (A)-(D), (B)-(E), (C)-(F)
(e) No error
Q14. Another provision envisages a political role for the military as a guardian of the Constitution. Thursday’s parliamentary vote initiating these changes will have to be ratified in a popular referendum, but few doubt the establishment’s capacity to secure it. The economy has returned to a growth trajectory following an International Monetary Fund loan in 2016, in exchange for cuts in public subsidies.
(a) (A)-(D) & (C)-(F)
(b) (B)-(E) & (C)-(F)
(c) (A)-(D), (B)-(E), (C)-(F)
(d) (A)-(D) & (B)-(E)
(e) No error
Q15. The weakness in the farm sector is undergrinding the unprecedented softness in food prices. The December CPI data showed continuing deflation in food items. While the RBI’s inflation calculus clearly benefits from the ongoing trend in price gains, the MPC is justifiably vociferous of the tenuousness of the assumptions it has made for its forward projections.
(a) (A)-(D) & (C)-(F)
(b) (A)-(D) & (B)-(E)
(c) (B)-(E) & (C)-(F)
(d) (A)-(D)
(e) No error
Solutions
S1. Ans. (b)
Sol. The passage given above describes the historical background of gambling where the most popular incidence of gambling has been cited in Mahabharata. Here, “innocuous” has been incorrectly placed and will be replaced with “wretched”. Hence, option (b) is the most suitable answer choice.
Wretched: of poor quality; very bad
Innocuous: harmless and doesn’t produce any ill effects
Contemplates: look thoughtfully for a long time at
Wager: more formal term for bet
S2. Ans. (b)
Sol. Further the paragraph states that betting on the queen and losing had become a thing of disgust in the luxurious palace of Drithrashtra. Here, “veracious” is completely out of the context and can therefore, be replaced with “opulent”. Hence, option (b) is the most suitable answer choice.
Opulent: ostentatiously costly and luxurious
Veracious: truthful
S3. Ans. (b)
Sol. The statement described that gambling has its roots in the history and has been there have been instances of huge losses in this game of chances. Here, “prevaricated” does not contextually get along with the statement and can therefore, be replaced with “wielded”. Hence, option (b) is the most suitable answer choice.
Wielded: have and be able to use (power or influence)
Prevaricated: to speak in an evasive way
Expounded: present and explain (a theory or idea) in detail
Extensively: in a way that covers or affects a large area.
S4. Ans. (a)
Sol. The passage further mentions a company dealing in stock and financial market where it clearly mention that any predictions regarding the market are beyond intellectual market and cannot be predicted with precision. Here, “galvanizing” has been incorrectly placed which can be replaced with “unraveling”. Hence, option (a) is the most suitable answer choice.
Unraveling: investigate and solve or explain (something complicated or puzzling)
Galvanizing: shock or excite (someone) into taking action
Implicit: suggested though not directly expressed
S5. Ans. (c)
Sol. In the concluding lines, the passage mentions the company Delta Corp Limited which is the only company that operated physical and online casinos in India. It ends with the statement which states a better insight into online gaming and how Delta Corp has acquired top place in the field. Here,
“vindicate” has been incorrectly placed and must be replaced with “dissect” to make a contextually meaningful and grammatically correct statement. Hence, option (c) is the most suitable answer choice.
Dissect: analyse (a text or idea) in minute detail
Vindicate: to clear of accusation, blame, suspicion, or doubt with supporting arguments or proof
S6. Ans. (c)
Sol. The given paragraph mentions the special investigation that was conducted by RBI to assess the quality of leans. It further mentions the consequences of the investigation under which the banks had to do away with the policies that concealed the bad loans. Here, we can infer that the blank would be filled with a phrase which would mention the policies that were obstructing the growth of banks. Statement given in option (c) perfectly fits in the given blank to give a contextually meaningful and grammatically correct statement. Hence, option (c) is the most suitable answer choice.
S7. Ans. (d)
Sol. The paragraph given above mentions how Yogesh Mahansaria had taken a control over tyre manufacturer in Aurangabad where he had been working for few years along with his father. But he was suddenly asked to leave within few year when the company was about to emerge successfully. From the phrase given following the blank, which mentions, “he did it with style”, we can infer that blank will be filled in with a phrase which could justify his capabilities to run the company. Statement given in option (d) clearly fits in the given blank, stating expectations from Yogesh after taking over the company. Hence, option (d) is the most suitable answer choice.
S8. Ans. (e)
Sol. The paragraph given above mentions how the world’s leading investors too are not inclined towards investing in airlines due to the highly variable air fares. Here, the statement given in option (e) which justifies the inference we can derive from the paragraph fits in perfectly in the given blank. All other phrases either do not make a contextually meaningful or do not form a grammatically correct statement. Hence, option (e) is the most suitable answer choice.
S9. Ans. (b)
Sol. The paragraph given above mentions how the airlines overbook the flights for the maximum profit. The final statement of the paragraph mentions that the overbooked passengers are usually bumped out of the flight inspite of paying the equal prices. Here, from the phrase preceding the blank “they do this by”, we can infer that the blank contains something that has been one of the ways by which the airlines overbook the flights. Therefore, the statement given in option (b) which states that overbooking is usually done considering the probability of the tickets that have the chances of being cancelled fits in perfectly in the blank. Hence, option (b) is the most suitable answer choice.
S10. Ans. (c)
Sol. The paragraph given above mentions the Steel industry in China which is largely dependent on blast furnaces for converting iron ore into steel. From the phrase “iron ore into steel under”, we can infer that the blank will be filled with the phrase highlighting the temperature at which the conversion happens. Therefore, the phrase given in option (c) perfectly fits in the given blank which implies that iron ore is converted to steel at extremely high temperature which is also a major reason for pollution in Beijing. Hence, option (c) is the most suitable answer choice.
S11. Ans. (d)
Sol. Here, the given paragraph mentions how start-ups may use the tax exemptions available for them as a tool of money laundering. Here, “entrench” makes the statement grammatically incorrect which will thus be replaced with “deter”. Hence, option (d) is the most suitable answer choice.
Launder: conceal the origins of (money obtained illegally), typically by transfers involving foreign banks or legitimate businesses.
Chortle: laugh in a noisy, gleeful way.
Entrench: establish (an attitude, habit, or belief) so firmly that change is very difficult or unlikely
Deter: discourage (someone) from doing something by instilling doubt or fear of the consequences
Justifiable: able to be shown to be right or reasonable; defensible
Preclude: prevent from happening; make impossible.
S12. Ans. (c)
Sol. The paragraph given above mentions the gold schemes and cit funds which are not under the regulation of government regulators and therefore have been used by miscreants for fraudulent activies. Here, “culminate” will be replaced with “swindle”, which will make the statement contextually correct. Also, “hienous” will be replaced with “heinous” as the given spelling is incorrect. Hence, option (c) is the most suitable answer choice.
Purview: the scope of the influence or concerns of something
Gainsay: deny or contradict
Culminate: reach a climax or point of highest development
Swindle: use deception to deprive (someone) of money or possessions
S13. Ans. (d)
Sol. The paragraph given above mentions the statement by FM Arun Jaitley who has assured that there won’t be revenue hits sue to the rate cut. He has further stated that the higher sales volumes would compensate the national income growth which may force the developers to raise base prices as an inevitable consequence of rate cuts. Here, all the three highlighted words have been incorrectly placed and will therefore require improvement. Hence, option (d) is the most suitable answer choice.
Engender: cause or give rise to
Reckon: be of the opinion
Rustic: made in a plain and simple fashion
Exchequer: a royal or national treasury.
Eschew: deliberately avoid using; abstain from
Entail: involve (something) as a necessary or inevitable part or consequence
S14. Ans. (e)
Sol. All the highlighted words make the statement grammatically and contextually meaningful and therefore do not require any improvements. Hence, option (e) is the most suitable answer choice.
S15. Ans. (a)
Sol. The paragraph given above discusses how the weaknesses in the farm sector have supported deteriorating farm prices and also that the MPC is well aware of the fragility of the assumptions it had made regarding the sector. Here, “undergrinding” and “vociferous” have been incorrectly use and do not contextually fit in the paragraph. We will replace “undergrinding” with “undergirding” and “vociferous” with “cognizant”. Hence, option (a) is the most suitable answer choice.
Undergirding: provide support or a firm basis for
Vociferous: expressing or characterized by vehement opinions; loud and forceful
Cognizant: having knowledge or awareness
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