New Pattern English Quiz for upcoming IBPS & Insurance Mains Exams - Set 2


Hello and welcome to exampundit. Here is a set of New Pattern English Quiz for upcoming IBPS & Insurance Mains Exams.

Directions (Qs. 1-9): In each of the following questions a short passage is given with one of the lines in the passage missing and represented by a blank. Select the best out of the five answer choices given, to make the passage complete and coherent.

1. North India lies in the Indo-Gangetic plain. Towards the North is the Himalayas, which separates the country from Central Asia. The Vindhya ranges separate the North from the South. South India is situated in the Peninsular Deccan Plateau. This region has the Arabian Sea in the west, Bay of Bengal in the east and Indian Ocean in the south. When talking about the racial differences, the North Indians are termed as Aryans, and the South Indians as Dravidians. In physique as well, there are many differences between the people of the South and North. The North Indians are taller, and more strongly built than the South Indians. The South Indians are a bit darker than the North Indians………….. Salwar Kamiz is the widely used dress by North Indian women. On the other hand, women in the South wear saris. While men in the North wear Salwar, the men in South prefer dhotis. Another difference that can be seen between North and South India is their food. When compared to the North Indian food, the South Indian food is spicier. The South Indians use more tamarind and coconut when compared to North Indians. The North Indians use more milk products when compared to the people of South India. When talking about the culture, there is vast difference between North and South India. One can come across differences in their music (Northern Hindustani and Southern Carnatic), dance forms and folks.
(a) A big difference is in their style of living
(b) A big difference is in their fashion statements
(c) A big difference can be seen in their dressing styles
(d) A big difference arises in their taste for clothes based on their earnings
(e) A big difference can be seen in their climate that demands different dressing styles



2. An open economy is an economy in which there are economic activities between domestic community and outside, e.g. people, including businesses, can trade in goods and services with other people and businesses in the international community, and flow of funds as investment across the border. Trade can be in the form of managerial exchange, technology transfers, all kinds of goods and services. Although, there are certain exceptions that cannot be exchanged, like, railway services of a country cannot be traded with another. To avail this service, a country has to produce its own. This contrasts with a closed economy in which international trade and finance cannot take place. The act of selling goods or services to a foreign country is called exporting. The act of buying goods or services from a foreign country is called importing…………. There are a number of advantages for citizens of a country with an open economy. One primary advantage is that the citizen consumers have a much larger variety of goods and services from which to choose. Additionally, consumers have an opportunity to invest their savings outside of the country. In an open economy, a country’s spending in any given year need not to equal its output of goods and services. A country can spend more money than it produces by borrowing from abroad, or it can spend less than it produces and lend the difference to foreigners. There is no closed economy in today’s world.
(a) Together exporting and importing are collectively called trade
(b) Exporting and Importing are exclusive classes of trade
(c) Both are independent of each other and do not constitute the term ‘trade’.
(d) Together they make GDP of a country
(e) Together they are indicators of influence of a country on world map



3. A no budget film is a produced film made with very little, or no money. Young directors starting out in filmmaking commonly use this method because there are few other options available to them at that point. All the actors and technicians are employed without remuneration, and the films are largely non-profit,…………….. or uses a very minimum “crew” of volunteers to assist him/her on such projects where no money or financing is available, not including the cost of film. No-budget films are made every day with video tapes and consumer cameras.
(a) Usually the director works alone on such films
(b) These films are huge employers in entertainment industry
(c) A team of experts two or three in number starts without any significant infrastructure
(d) Director is the cameraman, lightman, scriptwriter, screen player and sometimes even act himself in the film
(e) It is difficult task to find suitable people with desired skills, hence director works alone on such films



4. In finance, the term ‘yield’ describes the amount in cash that returns to the owners of a security. Normally it does not include the price variations, at the difference of the total return. Yield applies to various stated rates of return on stocks (common and preferred, and convertible), fixed income instruments (bonds, notes, bills, strips, zero coupon), and some other investment type insurance products (e.g. annuities)……... It can be calculated as a ratio or as an internal rate of return (IRR). It may be used to state the owner’s total return, or just a portion of income, or exceed the income. It may be used for production output in other industries. Because of these differences, the yields from different uses should never be compared as if they were equal.
(a) The term is a misnomer
(b) The term is understood differently by different people
(c) The term has no definite meaning
(d) The term is used in different situations to mean different things
(e) The term slightly differs in meaning from the textbook definitions


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5. Market trends are fluctuated on the demographics and technology. In a macro economical view, the current state of consumer trust in spending will vary the circulation of currency. In a micro economical view, demographics within a market will change the advancement of businesses and companies. With the introduction of the internet, consumers have access to different vendors as well as substitute products and services changing the direction of which a market will go. Despite that, it is believed that market trends follow one direction over a matter of time, there are many different factors that can change this idea. Technology scurves as is explained in the book The Innovator’s Dilemma. It states that technology will start slow then increase in users once better understood, eventually levelling off once another technology replaces it………………….
(a) This proves that change in the market is actually consistent
(b) Change is inevitable
(c) Fluctuations with these changes do not last long
(d) Be prepared for the change
(e) Changing changes the fortunes


6. The financial year 2015-16 witnessed a slew of acquisitions across diverse sectors of the economy in India…………... Of all sectors, steel was the most dominant in terms of stake sales as deals valuing $ 3.862 billion took place in Q1 of 2015-16 by the Indian companies in the global arena. Energy ranked second, with automotive and auto components close on its heels. In the domestic segment, iron ore, aviation and steel were the most prolific in terms of mergers and acquisitions. With Indian corporate houses showing sustained growth over the last decade, many have shown an interest in growing globally by choosing to acquire or merge with other companies outside India. One such example would be the acquisition of Britain’s Corus by Tata an Indian conglomerate by way of a leveraged buy-out. The Tata’s also acquired Jaguar and Land Rover in a significant cross border transaction. Whereas both transactions involved the acquisition of assets in a foreign jurisdiction, both transactions were also governed by Indian domestic law.
(a) These acquisitions are purely Indian but covering diverse sectors ranging from automobiles to Steel
(b) Acquisitions are like a big shark swelling a small fish without noticeable fight put up by the latter
(c) Unlike in the past, such activity was not limited to acquisitions within India or of Indian companies
(d) Globalization has brought this trend to India and Indian companies are no longer isolated from its effects
(e) International law of acquisitions holds true for all the countries and binding on each member



7. ……………….. But there is, in fact, a vast difference. Merger generally refers to a circumstance in which the assets and liabilities of a company (merging company) are vested in another company (the merged company). The merging entity loses its identity and its shareholders become shareholders of the merged company. On the other hand, an amalgamation is an arrangement, whereby the assets and liabilities of two or more companies (amalgamating companies) become vested in another company (the amalgamated company). The amalgamating companies all lose their identity and emerge as the amalgamated company; though in certain transaction structures the amalgamated company may or may not be one of the original companies.
(a) Very often, the two expressions “merger” and “amalgamation” are used synonymously
(b) ‘Merger’ and ‘amalgamation’ are terms that can be used interchangeably but up to a limit
(c) ‘Merger’ and ‘amalgamation’ are synonymous to each other
(d) ‘Merger’ and ‘amalgamation’ are not synonymous to each other
(e) Words ‘merger’ and ‘amalgamation’ should be used cautiously



8. Being one of the central banks which was involved in the exercise of drawing up the Core Principles, the Reserve Bank of India had assessed its own position with respect to these Principles in 1998. The assessment had shown that most of the Core Principles were already enshrined in our existing legislation or current regulations. Gaps had been identified between existing practice and principle mainly in the areas of risk management in banks, inter-agency cooperation with other domestic/ international regulators and consolidated supervision. Internal working groups were set up to suggest measures to bridge these gaps and their recommendations have been accepted by the Board for Financial Supervision and are now in the process of being implemented. Given the spread and reach of the Indian banking system, with over 60,000 branches of more than 100 banks…….. However, the Reserve Bank of India is committed to the full implementation of the Core Principles. The Bank also serves on the Core Principles Liaison Group of the BCBS, which has been formed “to promote the timely and complete implementation of these principles worldwide”.
(a) implementation is a challenge for the supervisors
(b) implementation is impossible
(c) implementation should be done on trail basis
(d) implementation is a problem for supervisors
(e) implementation is a long process to take years



9. Indian banks having overseas operations are required to lay down internal guidelines on country risk management and fix limits based on risk rating of the country. Limits should also be fixed for a group of countries in a particular risk category subject to a maximum ceiling fixed by RBI. In the normal course, prudential exposure norms apply to all loans and investments overseas including loans to sovereign entities ………………….. Adequacy of the bank’s policy on identification, measurement and control of country risk is assessed during onsite inspection by host country representatives. It is also monitored through a quarterly return on country-wise counter party exposure.
(a) The overseas branches are governed by the host country regulations also
(b) Host country is speculative for the success of these branches
(c) Banks and host countries conduct joint audits in branches in that country
(d) Host country regulations do not bind on these overseas branches

(e) Success of overseas branches depend on only the policies of host countries



Answers & Solutions:


1. (c) After the blank space two or three sentences are about the dressing styles of North and South Indians. It is not about the climate or earning based choice or fashion. Rather it is just the difference on general basis.

2. (a) This question is more of a checking of logic and sense than an understanding of the passage. Only export and import do not make GDP of a country. They are not the only indicators of influence of a country on world map. Option (c) is not logical and no sense prevails through it.

3. (a) Option (b) is not correct as it goes against the passage. Option (e) is illogical and does not fit as there is no reason why skilled people are not available. Option (d) seems frivolous on the basis of its impossibility. Experts are not discussed in passage. Only option which fits well in the context is director working alone on such films of low budget.

4. (b) See the part of passage after the blank space - this gives a number of meanings of term ‘yield’ taken in different fields. This is the same thing which is stated in the passage. From the other options, text definition angle is wrong in (e). Option (d) is linking the term with situations which is not correct. Option (a) and (c) are false.

5. (a) This is best option which expresses the fact illustrated in passage that the market is ever changing. Other options are generalized statements with no special linkage to passage.


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6. (a) Let us examine the validity of each and every option one by one - Only Indian is not right; overseas acquisitions are also discussed in passage. Acquisitions are not hostile always. This can be verified with the subsequent content of the passage. Globalization is not given in passage. This option is totally out of context.

7. (a) In option (b) ‘limit’ is doubtful. Option (c) and Option (d) are incorrect and cannot be defined from the passage. Option (e) applies too much caution which is not intended here. Option (a) is only option which in combination with next statement and is sensible.

8. (a) Implementation can be a challenge for such a wide banking system of India but it cannot be impossible or problem (supervisors are there to implement). It is foolish to implement on trail basis on a vast scale. Option (e) can be true or false as passage does not elaborate on it.


9. (a) A little reasoning is required to solve the question. If a foreign bank is operating in a country, then it shall be governed by the regulations of that country along with its original county. Then only that country will allow it to operate. On this logic option (d) can be rejected. Little extension of this logic discards the possibility of audit in country of origin. Hence rule out (c). Success does not depend on only policies of a country it demands a lot of other ingredients. Reject (e). Option (b) is inappropriate as passage does not support it.







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