New Pattern English Quiz for upcoming IBPS & Insurance Mains Exams – Set 1

DIRECTIONS (Qs. 1-5): 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. The fiscal position of the
Indian Governments – both Centre and States-has been under stress since the mid
-1980s. The stress stems from the inadequacy of receipts in meeting the growing
expenditure requirements. Reflecting the fiscal stress, the expenditure for
development activities, which are directly related to growth, has suffered. On
other hand expenditure on non developmental purposes, largely committed, has
witnessed a steady rise. …… in favor of developmental expenditure in order to
enable higher growth. That the state of finances of States is in disarray is
beyond dispute. The state finances have not been properly managed not only by
the states but also by the planning commission and the central Government,
which include economists who do not see states as autonomous responsible
organizations.

(a) The crucial issue, therefore,
is to bring about improvement in the finances with a view to restructuring
expenditure

(b) The crucial issue ,therefore
,is to analyze the finances with a view to see what can be done to expenditure

(c) Hence, it can be said that
management of finances is important vis-à-vis management of expenditures

(d) Therefore ,Governments have
to mend their way and balance the finances and the expenditures

(e) What is expected in this
scenario is a policy shift

2. In the planned economy of
India, foreign capital has been assigned a significant role, although it has
been changing over the time. In the earlier phase of planning………. Many
concessions and incentives were given to foreign investors. Later on, however,
the emphasis shifted to encouraging technological collaboration between Indian
Entrepreneurs and foreign entrepreneurs. In more recent times, efforts are on
inviting free flow of foreign capital. It would be instructive in this
background to examine the Government’s policy towards foreign capital.

(a) Foreign capital was looked
upon as a means to supplement domestic investment

(b) Foreign capital was seen a as
threat to Indian entrepreneurs

(c) Foreign capital was not
expected to come in so much huge amount

(d) Foreign capital was infused
to stabilize the Indian economy

(e) Foreign capital was the only
way out for the economy in crippling state

3. The thirteen Finance
commissions cover a span of more than 60 years during which many conditions
have changed. Correspondingly, the approach of the later commissions may be
expected to be different in several respects from the earlier ones………….. which
have come to evolve gradually what may by called ‘the Indian Finance
Commission’s approach to federal finance. There are several inadequacies in the
approach of the Finance Commissions. According to this approach, States’ share
of Central taxes is not allocated strictly on the basis of need.

(a) Nevertheless, it is possible
to discern certain common elements in the thinking of the successive Finance
Commissions

(b) And it happened to be in that
way

(c) Evolution is a long process
and it is the same story for commissions

(d) But they differ completely
from them and each time new approach was looked for

(e) This was based on the tax
sharing basis principle of commissions

4. Under taxation is at the roots
of the Indian fiscal problems. The available evidence shows that the tax -GDP
ratio in India is lower than the level it should have for its per capita GDP by
at least 2.5 percent. It is, therefore important to focus reform efforts to
increase the tax ratio. Of course, this does not mean that strategy to increase
the tax ratio lies in increasing the tax rates. The strategy is to reiterate
that tax administration is tax policy. All exemptions will not go. Politically,
it is not possible. The world over, there was a time when we thought that
equity in tax policy meant reducing the incomes of the rich. But today’s tax
philosophy is that equity in tax policy is increasing the incomes of the poor.
The incomes of the poor can not be increased by reducing those of the rich……….

(a) As they are the central point
of any economy their importance is preemptory

(b) As they have the real remote
control in their hands and poor can not see that.

(c) As they have the capital for
investment and give employment to the poor.

(d) As they have lobbying power
to decide the fate of the poor.

(e) As they are capital rich and
can not be compared with poor.

5. ………….Enterprises world wide
are therefore, now putting in place an integrated framework for risk
management, which is proactive, systematic and covers the entire organization.
Banks in India are also moving from the individual silo system to an enterprise
-wide risk management system. This is placing greater demands on the risk
management skills in banks and has brought to the fore the need for capacity
building. While the first mile-stone would be risk integration across the
entity, banks would do well to aggregate risk across the group both in the
specific risk areas as also across the risks.

(a) Banks are most risk prone of
all the financial institutions.

(b) Banks were managing each risk
independently ,in isolation ,which is no longer inadequate

(c) It is about risk level at
which an enterprise is operating to have or not have risk management system

(d) Risk management in India is
lagging for banks in comparison with other parts of world

(e) What, if risk becomes
unmanageable and looks right in your face..?

DIRECTIONS (Qs. 6-10): The following questions consist of a single
sentence with one blank only. You are given five as answer choices you have to
pick up two correct answers, either of which will make the sentence
meaningfully complete.

6. Out of the 6.5 million
abortions …………..in 2010, 68% were performed by an unqualified person or in
unsafe environment.

(1) Recorded (2) Registered

(3) Counted (4) Performed

(5) Conducted

(a) Only 1 (b) 1and 2

(c) 1and 5 (d) 4 and 5

(e) None of these

7. Mr. John has been ……….for the
top job at the ADB bank.

(1) Shortlisted (2) Selected

(3) Appointed (4) Questioned

(5) Approved

(a) 3 and 5 (b) 1 and 2

(c) 2 and 3 (d) 1 and 4

(e) None of these

8. The procedure adopted by the
bank authorities was totally ……………..as they did not follow the principles of
natural justice.

(1) Miscalculated (2) Flawed

(3) Irrational (4) Accurate

(5) In place

(a) 2 and 3 (b) 1 and 2

(c) 3 and 4 (d) 1and 5

(e) None of these

9. Delhi High Court directed RBI
to respond to the plea of …………….commissioner of Income tax.

(1) Appointed (2) Sacked

(3) Removed (4) Selected

(5) Responsible

(a) 1 and 2 (b) 2 and 3

(c) 1 and 5 (d) 5 and 4

(e) None of these

10. The High Court withdrew a
……………approval that allowed him to make numerous trips to hospitals in last 4
years.

(1) Ordered (2) Pending

(3) Blanket (4) Prior

(5) False

(a) 5 and 1 (b) 1 and 2

(c) 2 and 3 (d) 3 and 4

(e) None of these

1. (a) Passage can be divided in
two parts. First part (before the blank) is about the growing expenditure and
its subsequent pressure as felt by the governments. Second part is (after the
blank) is about the finances and their mishandling by governments. This blank
portion should be filled with something that gives some solution to the issue
of growing expenditure and provides a beginning platform to discuss /raise the
issue of finances. So option (a) is best answer. Option (e) can be rejected out
rightly as it has no substantial information. Option (b) & (c) are
conclusive statements about finances and are not about expenditures. Option (d)
again can end the passage but can not be put in the blank.

2. (a) Read the sentence after
the blank space. ‘Many concessions and incentives……’ If foreign investment was
seen as threat to Indian business then definitely Government would not provide
incentives. On this logic, Option (b) can be rejected. Indian economy needs
stabilization or not; is not discussed in passage. Hence option (d) is also not
right. In option (e) word only is questionable. Option (e) can also be skipped.
Option (c)’s statement can be a result of incentives but not preceding this
measure. Option (a) is appropriate as seems logical that initially to
supplement Indian economy, foreign capital was looked upon and hence some
incentives were given to the foreign investors.

3. (a) Tax sharing is discussed
in the end only so option (e) is not proper for the blank provided. Option (d)
says complete diversion of previous and new commission’s approach but the
following sentence has word gradually in it and hence contradiction arises.
Option (b) is not substantive enough and does not elaborate the matter which is
required in the context. Option (c) is generic in nature which is also not
appropriate for the blank. Option (a) is best one as it goes with flow of the
passage and sentence following the blank validates it.

4. (c) Option (a) is very
capitalistic in nature and can be an individualistic thought but not the truth
or the correct option for closing the passage. Option (b) is also not hinted at
in the passage and can not be inferred from the passage. Option (d) is almost
similar to statement in option (a) and is incorrect choice. The passage is
about equity in tax for rich and poor not about the rich -poor relationship.
Option (e) is out of context. Option (c) gives logical and coherent ending to
the passage justifying the preceding statement.

5. (b) Option (a) can be a
starter for the passage but it does not throw weight behind the need of
integration of risk management in banks. In its comparison with option (b)
,later one is better choice as it explains what was there for risks and what is
the need now. Option (d) can also be a starting statement but it is like
raising a point and then leaving a blank. It means that if passage starts with
it then at least something should be discussed about the risk management in the
other parts of world. Option (e) indicates as if there was nothing in banks for
risk handling. It is about integrated framework for risk management not about
absence of risk management.

6. (c) Medical operations
conducted by unqualified person and that also in unsafe environment must have
not been recorded or registered. Counted is not right in the context of the
situation. Only performed /conducted can be the right choice.

7. (c) Selected/Appointed is
grammatically correct. Approved is not right for a person. It might have been
right if the sentence would have been like – Proposal for Mr. John’s
appointment for the top job has been APPROVED by Board of Directors. Questioned
is incorrect grammar usage.

8. (b) Use of accurate or in
place contradicts the statement. Procedure can be flawed or miscalculated so
option (b) is correct option. Irrational is not necessarily flawed.

9. (b) Sacked and removed both
carry the same sense. Appointed and Selected are also similar but not given in
options. So correct choice is (b)

10. (d) Blanket and prior both
completes the sentence meaningfully. Here blanket means inherent in the order
but may not be directly or explicitly. Statement 1 introduces the concept of
Strategic change through mobilizing the employees. Statement 4 suggests how to
mobilize the employees through involvement. Statement 5 carries forward the
point of Statement 4 by stating what can happen in absence of the employee
involvement (isolation) from decision making. Statement 2 confirms what was
stated in earlier statements as managers also point to the same. Statement 3
concludes the passage by stating what is role of managers and how everything
discussed earlier depends on it.