IBPS RRB PO/Clerk Mains English Quiz 28th of September 2019

IBPS RRB PO/Clerk Mains English Quiz

Directions (1-8): Read the following passage carefully and answer the questions given below it. Certain words are given in bold to help you locate them while answering some of the questions.

Paragraph 1: Ancient money lending systems used to serve a limited area, but current banking systems has gone global. Now resource mobilization happens not only in an economy but also beyond political borders. Obviously, degree of integration differs from country to country, as attested by after effects of Global Financial crisis of 2008. Different persons in an economy have different risk appetite or capacity to take risk. But at same time, most important concept of finance is direct relation of risk and return/profit. More is the risk, more is the profit. Banking system facilitates movement of money from risk averse people to risk ready ones.

Paragraph 2: Surplus money you have can be (among many other things) invested in Stock markets or deposited in banks. Banks guarantee repayment of whole sum along with pre agreed interest, so there is high degree of certainty and assurance to the depositor. In contrast, Stock exchanges provide no such assurances; person may not be able to recover even his invested money. So risk averse person will prefer bank over, stock markets, private business or any other riskier investment. This is a hypothetical scenario.

Paragraph 3: On the other hand, many people who have some knowledge for what else to do of money are ready to invest, but they don’t have money. These will borrow same money which was just deposited by risk averse people. So bank insures its lending to these (so called) risk ready people by adequate risk assessment, mortgages or hypothecation.

Paragraph 4: In Risk assessment, bank studies financial capacity and credibility of potential borrower. For this it goes into matters like his annual income, past credit history etc. Term loans are disbursed by keeping some physical property of borrower mortgage. Under mortgage bank keeps documents of such property on understanding that those will be returned, on repayment of loan. Loan agreement includes a clause in which borrower authorize bank to sell property on inability of borrower to repay such money. In case loan is given against a financial asset such as shares or Debentures, it is called ‘Hypothecation’ (not mortgage).

Paragraph 5: In the initial phases of economic development, banks are main means of resource mobilization in an economy. On same lines, this is case currently with India. This is because majority people in such economies are too risk averse. New firms in developing economies find it difficult to raise much money through capital markets and consequently, they naturally go to banks for loans. As Indian economy is expanding, capital markets are getting stronger year by year. This makes banking industry a most important backbone of Indian economy.

Q1. Why according to the author the direct relation between risk and return is the most important concept of finance as mentioned in the Paragraph 1?
(I)The mindset of people in corporate world is so conservative that all they care about is only profit and earning greater return on their investment.
(II)To earn a greater profit on investment, risk plays a critical role in it and thus with more risk, there is an equal opportunity of getting better return.
(III)In the financial market, risk decides the future prospects of growth of the market as wealth maximization is one of the most important features of any market.
(a)Only (II) is correct
(b)Only (III) is correct
(c)Both (I) and (II) are correct
(d)Both (II) and (III) are correct
(e)All are correct

S1. Ans. (a)
Sol. Read the first paragraph carefully, “But at same time, most important concept of finance is direct relation of risk and return/profit. More is the risk, more is the profit.” Hence only statement (II) is correct in the context of the paragraph.

Q2. Which of the following statements cannot be related to Paragraph 2?
(I)Banks provide a higher degree of certitude to the depositor in comparison to Stock market.
(II)There is a greater number of risk averse people in the market who generally prefer bank over stock markets, private business or any other riskier investment.
(III)The preference of bank as a safer investment institute over others is some kind of hypothetical scenario.
(a)Only (I)
(b)Only (III)
(c)Both (I) and (II)
(d)Both (I) and (III)
(e)All three can be related

S2. Ans. (e)
Sol. Read the second paragraph carefully, all the three given statements can be connected with the paragraph. Hence (e) is the correct option.

Q3. What does author mean by “many people who have some knowledge for what else to do of money are ready to invest, but they don’t have money” as mentioned in the Paragraph 3?
(a)There are many people who are risk lovers but they don’t get ample opportunity to invest in proper market.
(b)There are people with good knowledge of money market but they don’t have considerable money to invest, they get the financial support from banks to carry out their needs.
(c)Those who don’t have money should consider banks as their best option to invest.
(d)There are very few rich people in the market who carry out the task of risk lovers by investing in the stock market or certain institutions that provide a good return.
(e)None of the above.

S3. Ans. (b)
Sol. Read the third paragraph, the author clearly mentions the above statement in reference to the lack of money to those investors who are willing to take risks to earn larger profits. Hence (b) is the correct choice.

Q4. How according to the passage, “Hypothecation” is different from “Mortgage” in the banking system?
(I)In the case of Hypothecation, banks provide loan which is used for creating charge against the security of financial assets such as shares or debentures etc., while Mortgage is used for creating charge against physical property like land, buildings, etc by keeping the documents of the property.
(II) In the case of mortgage, the possession of the asset remains with the borrower, while in the case of a Hypothecation, the ownership is usually with the borrower but may not always be the case.
(III) The amount of loan given against mortgage is always higher than the amount of loan given just for hypothecation.
(a)Only (I) is true
(b)Both (I) and (III) are true
(c)Both (I) and (II) are true
(d)Both (II) and (III) are true
(e)All are true

S4. Ans. (a)
Sol. Read the fourth paragraph carefully, it can be inferred from there that statements (I) is true in differentiating these two important banking terms while statement (II) and (III) is not true with respect to the paragraph. Hence (a) is the correct option.

Q5. Which of the following sentences does not agree with the statement, “This makes banking industry a most important backbone of Indian economy”?
(a)Banks provide the much needed help to the new firms in the market by raising the required loans to set them up in the existing economy.
(b)Banks play the central role in economic development of the country as they are the major means of resource mobilization in the economy.
(c)Banks provide the sense of security and assurance to many people as they help depositors in securing their surplus amount along with sufficient return in the form of interest generated on the amount.
(d)Banks are the major source of credit to the government.
(e)None of the above.

S5. Ans. (e)
Sol. All the given statements agree with the statement as it can be easily inferred from the passage. Hence none of the statements disagrees to the statement in the context of the passage.

Directions (6-7): Choose the word/group of words which is most SIMILAR in meaning to the word/group of words printed in bold as used in the passage.

Q6. Credibility
(a)Mastery
(b)Finesse
(c)Plausibility
(d)Presumption
(e)Acuity

S6. Ans. (c)
Sol. Credibility means the quality of being convincing or believable. Plausibility means the quality of seeming reasonable or probable. Hence both are similar in meanings.
Finesse means impressive delicacy and skill.
Presumption means the acceptance of something as true although it is not known for certain.
Acuity means sharpness or keenness of thought, vision, or hearing.

Q7. Mobilization
(a)Selection
(b)Manoeuvre
(c)Vitality
(d)Spirit
(e)Recoil

S7. Ans. (b)
Sol. Mobilization means the action of making something movable or capable of movement. Manoeuvre means a movement or series of moves requiring skill and care. Hence both are similar in meanings.
Vitality means the state of being strong and active; energy.
Recoil means rebound or spring back through force of impact or elasticity.

Directions (8): Choose the word/group of words which is most OPPOSITE in meaning to the word/group of words printed in bold as used in the passage.

Q8. Appetite
(a)Apathy
(b)Propensity
(c)Longing
(d)Voracity
(e)Bias

S8. Ans. (a)
Sol. Appetite means a strong desire or liking for something. Apathy means lack of interest, enthusiasm, or concern. Hence both are opposite in meanings.
Propensity means an inclination or natural tendency to behave in a particular way.
Voracity means greediness.
Bias means inclination or prejudice for or against one person or group, especially in a way considered to be unfair.

Directions (9-10): Rearrange the following sentences to form a meaningful paragraph and then answer the questions that follow.
(A)Indian policymakers need to step on the reforms pedal.
(B)The past few years have seen important changes such as macroeconomic stability, a new monetary policy framework, the goods and services tax, and the bankruptcy law.
(C)The goal of inclusive growth in terms of job creation in the organized sector remains elusive.
(D)Economic history tells us that only a handful of countries have been able to sustain 8%-plus growth over two decades.
(E)India needs to join this exclusive club—since the window of opportunity will slowly close as the labour force peaks and automation begins to destroy jobs on a bigger scale.

Q9. If “Structured thinking on India’s economic transformation is still needed.” is the LAST sentence of the paragraph that can be formed after rearranging the other sentences in sequence to form a coherent paragraph, which one of the above sentences may not be the part of the coherent paragraph?
(a)B
(b)D
(c)A
(d)C
(e)None

S9. Ans. (e)
Sol. If “Structured thinking on India’s economic transformation is still needed.” is the last sentence of the paragraph, the above sentences in the sequence of DEABC form a coherent paragraph. This implies that all the given sentences belong to the coherent paragraph so formed. The paragraph talks about the economic challenge that India needs to work upon to obtain the economic transformation. Hence option (e) is the correct choice.

Q10. If “Structured thinking on India’s economic transformation is still needed.” is the last sentence of the paragraph that can be formed after rearranging the other sentences in sequence to form a coherent paragraph, which of the above statements is the THIRD sentence of the coherent paragraph?
(a)D
(b)A
(c)B
(d)E
(e)C

S10. Ans. (b)
Sol. If “Structured thinking on India’s economic transformation is still needed.” is the last sentence of the paragraph, the above sentences in the sequence of DEABC form a coherent paragraph. The sentence (D) forms the opening statement as it provides the fact related to economic history. The sentence (E) should follow (D) which can be verified by the phrase, “India needs to join this exclusive club” of the sentence (E). Sentences (B) and (C) form a combination. Thus, the statement (A) should be the THIRD sentence of the coherent paragraph so formed. Hence option (b) is the correct choice.

Directions (11-15): In the following question a part of the sentence is given in bold, it is then followed by four sentences which try to explain the meaning of the idiom/phrase given in bold. Choose the alternative from the four given below each question which explains the meaning of the phrase correctly without altering the meaning of the sentence given as question. If none of the sentence explains the meaning of the highlighted phrase, choose option (e) i.e., “none of these” as your answer choice.

Q11. ICICI Bank’s troubles are rooted in a 2016 complaint by an investor alleging a quid pro quo deal between Ms. Kochhar’s immediate family members and the Videocon group, which got a Rs 3250 crore loan from it.
(a)ICICI bank got in trouble after an investor accused that the deal between Ms Kochhar’s immediate family members and the Videocon group was a result of a undue favour granted that got a sum amount of RS 3250 crore loan from it.
(b) ICICI bank got in trouble after an investor asserted that the deal between Ms Kochhar’s immediate family members and the Videocon group was an act of rivalry that got a sum amount of RS 3250 crore loan from it.
(c) ICICI bank got in trouble after an investor accused that the deal between Ms Kochhar’s immediate family members and the Videocon group was an act of a denunciation that got a sum amount of RS 3250 crore loan from it.
(d) ICICI bank got in trouble after an investor maintained that the deal between Ms Kochhar’s immediate family members and the Videocon group was a result of a continued adulation that got a sum amount of RS 3250 crore loan from it.
(e) none of these

S11. Ans. (a)
Sol. The correct option is (a). The correct meaning of the idiomatic expression quid pro quo is granting undue favor to someone in return for something. Therefore, the only statement that complies with the statement in question is statement (a). All other statements are irrelevant in context to the statement provided in question.

Q12. Journalism needs to come up with alternative words and terms to describe such horrendous attacks on people. The time has come for journalists to drop these cloak-and-dagger words.
(a) Journalism use plain words to describe horrible attacks on people that cannot be justified by use of words that works to conceal such actions.
(b) Journalism requires to use alternate words to describe horrible attacks on people that cannot be justified by use of words that works to conceal such actions.
(c) Journalism necessitate plain words to describe horrible attacks on people that cannot be justified by use of words that works to conceal such actions.
(d) Journalism calls for plain words to describe horrible attacks on people that cannot be justified by use of words that works to conceal such actions.
(e) none of these

S12. Ans. (d)
Sol. The correct option is (d). The correct meaning of the idiomatic expression cloak and dagger is using intrigue or confusing words in order to conceal the wrongdoings. Therefore, the only statement that complies with the statement in question is statement (d). All other statements are grammatically incorrect in context to the statement provided in question.

Q13. From khap panchayats to various extra- judicial entities, many present cruel invasions into the lives of young people as corrective mechanisms and give a cloak of respectability to crimes with the prefix ‘honour’.
(a) Various extra-judicial entities along with khap panchayats present cruel invasive measures as part of corrective measures in the lives of young people and give an honorable garment to crimes with the prefix ‘honour’.
(b) Various extra-judicial entities along with khap panchayats present cruel invasive measures as correct measure in the lives of young people and give it a respectable status to crimes with the prefix ‘honor’.
(c)Various extra-judicial entities along with khap panchayats present cruel invasions in young people’s lives to correct them and give them a respectable garment.
(d) Various extra-judicial entities are engaged in presenting the cruel intrusions in young people’s lives as part of the corrective measure and a mark of respectable thing to conceal the wrong doings with prefixes such as ‘honour.’
(e) none of these

S13. Ans. (d)
Sol. The correct option is (d). The correct meaning of the idiomatic expression cloak of respectability is using respectable remark or title for something in order to conceal the wrongdoings. Therefore, the only statement that complies with the statement in question is statement (d). All other statements are irrelevant in context to the statement provided in question.

Q14. Experts opine that India has a solar rooftop power potential of up to 400 GW. The way ahead is to have institutional channel partners to rev up rooftop capacity.
(a)Experts moot that India has a solar rooftop power potential of upto 400 GW. Institutional channel partners have to increase the roof top capacity in order to advance.
(b) Experts moot that India has a solar rooftop power potential of upto 400 GW. Institutional channel partners have to decrease the roof top capacity in order to advance.
(c) Experts moot that India has a solar rooftop power potential of upto 400 GW. Institutional channel partners have to decelerate the roof top capacity in order to advance.
(d) Experts moot that India has a solar rooftop power potential of upto 400 GW. Institutional channel partners have to de-escalate the roof top capacity in order to advance.
(e) none of these

S14. Ans. (a)
Sol. The correct option is (a). The correct meaning of the idiomatic expression rev up is to increase the rate of or speed of something. Therefore, the only statement that complies with the statement in question is statement (a). All other statements are irrelevant in context to the statement provided in question.

Q15. Modi said nation building required the joint effort of industrialists as well as farmers, workers, bankers and civil servants. Crooks in all spheres must be prosecuted, but all industrialists should not be tarred with the same brush.
(a) Modi said nation building required the cumulative effort of industrialists, farmers, workers, bankers and civil servants. Action should be taken against all the crooks but all industrialists should not be judged under the same category and punished for the mistakes they have not committed.
(b) Modi stated nation building required the combined effort of industrialists as well as farmers, workers, bankers and civil servants. Crooks in all spheres must be prosecuted, but all industrialists should not be painted with the same brush.
(c) Modi stated nation building required the combined efforts of industrialists as well as farmers, workers, bankers and civil servants. Crooks in all spheres must be prosecuted, but all industrialists should not be painted with the brush.
(d) Modi stated nation building required the combined effort of industrialists as well as farmers, workers, bankers and civil servants. Crooks in all spheres must be prosecuted but industrialists should be spared.
(e) none of these

S15. Ans. (a)
Sol. The correct option is (a). The correct meaning of the idiomatic expression tarred up with same brush is to unfairly categorize someone or something as being the same as another person or thing, usually in a negative manner. Therefore, the only statement that complies with the statement in question is statement (a). All other statements are irrelevant in context to the statement provided in question.

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