IBPS Clerk 2018 Sectional Revision Test- 1 | English Language

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Sectional Revision Test- 1 | English Language

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Direction (1-10): In a passage given below there are 10 blanks, each followed by a word given in bold. Every blank has four alternative words given in options (a), (b), (c) and (d). You have to choose which word will best suit to the respective blank. Choose (e) as your answer if the word given in the bold after the blank is your answer i.e. “No change requires”.

Dealing with bad loans to business around 60% of NPEs, mostly to small firms is the most _ (1)_ [alarmed]part of this monumental job. It means resetting the balance-sheet of much of Greece’s economy, from restaurants to manufacturing. Bankers and investors say Amoeba has helpfully _ (2) _ [produce]an ecosystem of buyers and advisers. Clearing away the NPE rubble and renewing lending are both vital. GDP _ (3) _ [shrinks] by a quarter in 2010-13 and then _ (4) _ [decline] for three more years. Though it is growing once more, at 1.4% in 2017 and maybe 2% in 2018, it is scarcely roaring back. Write-offs and sales have accounted for most of the reduction in NPEs, though cures have ticked up too. Selling business loans is harder. Though provisions already cover half of NPEs, and collateral notionally covers the rest, banks and loan-buyers must still discern which indebted businesses are viable. Debtors may owe money to more than one bank, and different parts of a property may have been _ (5) _ [committing] separately. Bankers reckon that 25% of defaulters are strategic that is, they can pay but won’t, believing foreclosure will never come. Lately online public auctions of foreclosed commercial and residential properties have also begun. E-auctions have smoked out some strategic defaulters: perhaps a fifth of properties put up for sale have been pulled when borrowers found the money or asked to _ (6) _ [converted] the debt. KKR, a private-equity giant is _ (7) _ [undertook] Famar, a drugmaker, and is close to deals with Alpha. Banks have also set up a forum to tackle companies owing money to more than one lender. Among other positive signs, all four banks boast healthy capital ratios and came through stress tests by the European Central Bank this month without being required to raise more equity. They should soon be _ (8) _ [detach] off ECB emergency funding, which by April was down to €10.2bn, from €86. Deposits that _ (9) _[flow] out in the crisis have begun to flow back. Private-sector deposits, at €120bn, are still 45% lower than at the end of 2009. Tens of billions are _ (10) _ [load] in homes even buried in gardens or abroad. Despite changes in the law intended to speed up bankruptcies, procedures are still a mess believes.

1). ? 

a) Consternated

b) Daunting

c) Thwarted

d) Fomenting

e) No change required

 

2). ? 

a) Procreate

b) Extirpated

c) Muster

d) Spawned

e) No change required

 

3). ?

a) Shrivelled

b) Desiccates

c) Dwindles

d) Expatiated

e) No change required

 

4). ?

a) Languish

b) Stultify

c) Stagnated

d) Dilated

e) No change required

 

5). ?

a) Covenant

b) Pledged

c) Stipulate

d) Welshed

e) No change required

 

6). ?

a) Restructure

b) Deduced

c) Transmuted

d) Blemish

e) No change required

 

7). ?

a) Transcend

b) Overhauling

c) Surpass

d) Faltering

e) No change required

 

8). ?

a) Amputate

b) Obliterate

c) Instigated

d) Weaned

e) No change required

 

9). ?

a) Gushed

b) Cascade

c) Emanate

d) Lounged

e) No change required

 

10). ?

a) Scrimps

b) Radiated

c) Stashed

d) Garners

e) No change required

 

Directions (11-15): Below is a given passage. Some sentences begin with a number (corresponding to the question number) and some words are highlighted in bold. One of the highlighted words is grammatically incorrect. Choose the word from the option as your answer. If all the highlighted words are correct, mark ‘All correct’ as your answer

11. State Bank of India is recasting its credit policy to jewellers in the waking of bankruptcies and frauds. India’s largest lender proposes exposure capitals of Rs 100 crore and Rs 250 crore for individual and corporate borrowers, respectively. 12. It has planned to lend a substantial part in the form of gold loans, instead of the custom cash credit against stocks — a move that could ensure better monitoring of the end-use of funds but may leave many borrowers with working capital crunch. 13. According to the proposal, collateral (in the form of cash and enforceable immovable property) would also be raised for poorly-rated borrowers and new customers. A senior SBI official told that the credit policy for the gems and jewellery sector is in review. 14. Besides its experience with errant customers, SBI’s policy review is influenced by characteristics of the gems and jewellery industry —high dependence on imports, volatile in raw material price, reliance on short-term finance for upfront payment to suppliers and customer preferences that are shifting towards machine-made jewellery. 15. SBI’s financing of jewellery would be confined to selected branches. Diamond houses are being told to route documents for a large part of the trade through banks, instead of following the age-old practice of ‘direct bills’.While the revised norms would be applicable to new borrowers soon after rules are finalized, existing customers, according to the proposal, would be giving time till March 2020 to shift to the gold loan facility.

11. ?

a) recasting

b) waking

c) largest

d) exposure

e) No correction required

 

12). ?

a) substantial

b) custom

c) monitoring

d) working

e) No correction required

 

13). ?

a) would

b) rated

c) that

d) in

e) No correction required

 

14). ?

a) its

b) influenced

c) volatile

d) shifting

e) No correction required

 

15). ?

a) being

b) of

c) finalized

d) giving

e) No correction required

 

Direction (16-20): Five sentences denoted by A, B, C,D and E have been given. Identify the odd sentence and arrange rest of the four sentences in such a way that they make a meaningful paragraph.

16)

(A) Demand for a country’s currency comes from its export of goods and services and foreign investment in the country.

(B) The value of currency fluctuates throughout the trading day.

(C) Currencies are bought and sold, just like other commodities, in markets called foreign exchange markets.

(D) Supply for a country’s currency comes from its imports of goods and services and its investments in other countries.

(E) Like the price of any commodity, currency price is also determined by demand and supply of that currency in the international market.

a)BEAC

b)ADEC

c) DBEA

d)CEAD

e)ADBC

 

17)

(A) This constitutional body is mandated to keep a watch on the system of governance in the country to ensure the best use to taxpayer’s money.

(B) The two-day conference was organised by the Comptroller and Auditor General of India.

(C) Finance Minister ArunJaitley addressed the officers on the second day of the conference.

(D) The Comptroller and Auditor General is an authority established by Article 148 of the Indian Constitution.

(E) The 29th Accountants General conference was inaugurated by President Ram NathKovind in New Delhi on October 10, 2018.

a)BEAC

b)ADEC

c) DBEA

d)EBDA

e)ADBC

 

18)

(A) Some corporations issue preferred stock in addition to its common stock.

(B) Stocks are the financial asset, normally issued by the companies to raise capital from the general public.

(C) The stocks are divided into two categories equity stock and preference stock and at the time of winding up of the company, the company discharges all of its dues first and after that, the stockholders are paid off with the residual amount.

(D) When a company offers stock, for sale, it sells the portion of its ownership for cash.

(E) Therefore, it represents the ownership of the holder in the company, determined by the proportion of stock held by him and they are traded on a stock exchange.

a)BEAC

b)ADEC

c)BDEC

d)EBDA

e)ADBC

 

19)

(A) In 2015, Sikkim was announced as the first organic state in the world with more than 66,000 farming families practicing organic farming state-wide.

(B) This achievement has made it world’s first totally organic agriculture State.

(C) In 2003, Sikkim stopped imports of chemical fertilizers in the State.

(D) Sikkim has become the pioneer in organic farming.

(E) UNFAO has shortlisted Sikkim for the UN Food and Agriculture Organisation’s (FAO) Future Policy Award.

a)BEAC

b)ADEC

c) DBEA

d)EBDA

e)ADBC

 

20)

(A) This merger will help achieve the twin objectives of enhancing aspirational value of vocational education, and increasing skilled manpower which will directly support the Prime Minister’s agenda of making India the skill capital of the world.

(B) Once formed, the NCVET will regulate the functioning of entities engaged in vocational education and training, both long-term and short-term.

(C) The Union Cabinet, chaired by the Prime Minister NarendraModi, on October 10, 2018 approved the merger of the National Council for Vocational Training (NCVT) and the National Skill Development Agency (NSDA) to establish the National Council for Vocational Education and Training (NCVET).

(D) The NCVET’s main objective will be to improve standards of skill in the country.

(E) The Council will be headed by a Chairperson and will have Executive and Non-Executive Members.

a)BEAC

b)ADEC

c) DBEA

d)EBDA

e)CBDA

 

Direction (21-30): Read the passage carefully and answer the following questions.

Borrowing by public authorities is of recent origin. This practice of revenue raising was not prevalent prior to the eighteenth century. In the middle ages, borrowing was a rare event. Whenever there was urgency, usually a war, the Monarch relied on his hoarded wealth, or borrowed on his own credit.

In modern times, borrowing by the governments has become a normal method of government finance along with other sources like taxa­tion.Public debt refers to the loans raised by government from within or outside the country. Every government has to borrow when its expenditure exceeds its revenue. The borrowing or taking loans by the government is known as public debt.

The government borrows by issuing the Government Bonds and T-Bills (Treasury Bills). It also includes the Market borrowings by the government.

Government debt securities are debt securities issued by the Ministry of Finance or government entities in order to mobilize funds from general public and financial institutions.

Treasury bills, debt restructuring bills are treasury securities having a maturity period of one year or less and sold in the primary market by auction at a discount from face value. Upon maturity the face value will be paid to the holder.

Government bonds are debt securities issued by the government, having a maturity period of one year or longer. The primarily objectives are  to finance the budget deficit in each fiscal year or when the expenditures exceed the revenue,  to support social and economic development.

State-owned enterprise (SOE) bonds have a maturity period of one year or longer issued by state-owned enterprise (an enterprise in which the state holds for more than 50% of total capital) seeking funds for the state enterprise’s projects.

Financial Institutions Development Fund (FIDF) bonds are debt securities issued by the FIDF for the purpose of rehabilitating and developing financial institutions in order to maintain stability in the financial system.

Government loans are of different kinds, they may differ in respect of time of repayment,  the purpose, condition of repayments, method of covering liability etc.

Internal public debt refers to the public loans floated within the coun­try, whereas external debt refers to the obligations of a country to foreign countries or international institutions.

If the case of voluntary debt, people are free to buy public debt at their sweet will. Voluntary loans are provided by the people, willfully. In this case there is no compulsion to lend money to the govern­ment. Compulsory debts include those loans which are taken by the government, by using its coercive authority arising out of its sovereign powers. In this case compulsory loan is similar to a tax.

The tax element consists of the difference between the terms of a voluntary and compul­sory loan. Compulsory loans create inconvenience, oppression and lack of confidence in the government.

The tax element consists of the difference between the terms of a voluntary and compul­sory loan. Compulsory loans create inconvenience, oppression and lack of confidence in the government.

On the other hand, public debt incurred to cover budgetary defi­cits on revenue account or for purposes which do not yield any direct income to the government is classified as unproductive debt. It is also called dead-weight debt.

Public debt may be redeemable or irredeemable. Redeemable debts are those which the government undertakes to pay back after a fixed period.

Irredeemable debts are not paid back or redeemed and they are not intended to be paid back. But on such debts regular interest is paid by the govern­ment. These loans are also known as ‘perpetual debts’.

Funded debts are long term debt created by the government, for generating a permanent capital asset like building, construction equipment, roads etc.  Property that creates more property is known as capital asset or it can also be said that the capital asset is the fixed asset employed for generating income. Funded debt is repayable after a speci­fied period of time.

A marketable debt is one in which the debt instruments are nego­tiable. That is it can be freely bought and sold in the market. Most of the government debts belong to this category.

Besides war, there are several other causes which have brought about great increase in the size of public debts.

The government may borrow to cover budgetary deficit on account of large expenditure incurred on administration and for financing unforeseen events like floods famines epidemics.

Public debt is considered a very important tool for the development of a country. Both developed and developing countries borrow for economic development. Developing countries do not have sufficient resources to finance their plan they therefore borrow not only from within the country but also from foreign sources.

Every country whether a socialist economy or missed economy runs certain public enterprises like railways, postage and telegrams, power work et. Which require large funds, the government can meet them only through public borrowing rather than taxation. On the other hand, it is also true that government borrows to stabilize, to control inflationary conditions. The government borrows to take away excess money supply from the public. Since public borrowing is voluntary. This is a better method than raising taxes.

Redemption of public debt means repayment of debt.

Modern governments make it a point of honour to repay their debts. There are various methods which are followed by the governments to repay their debts. Under the debt conversion method, debt with high interest rate is converted into new debt when the market rate of interest falls. The government borrows at low rate of interest and repays the past debt even before it matures. In the budgetary surplus method, a policy of surplus budget is followed annually for clearing of public debts gradually instead of creating a fund for their repayments on maturity. But in recent years due to the rapidly increasing public expenditure, surplus budget is a rare phenomenon. Under the terminable annuities method, the fiscal authorities clear off a part of the public debt every year by issuing terminable annuities to the bond-holders which mature annually. Thus, it is the method of redeeming debts in installments. By this method, the burden of debt goes on diminishing annually and by the time of maturity it is fully paid off. In additional taxation method, new taxes are imposed to collect revenue for paying the debts. Capital levy refers to a very heavy tax on property and wealth. In fact capital levy is advocated immediately after the war to repay the unproductive war debts.

21) According to the passage, which of the followings cannot be mentioned as a cause for increasing public debt?

a)finance the economic development

b) current account deficit

c)budgetary deficit

d)curbing the inflation

e)finance the public sector enterprises

 

22) According to the passage, the burden of public debts reduces annually by which of the following debt redemption methods?

a) budgetary surplus method

b) capital levy

c) terminable annuities

d) debt conversion method

e) additional taxation

 

23) According to the passage, in order to set up the factories for producing advanced equipments and tools for agriculture, which kind of debt does the government create?

a)Long term debts

b) Marketable debt

c) Redeemable debts

d) Compulsory debts

e) Funded debts

 

24) According to the passage, which of the following debt instruments is issued by the government to finance the budget deficit in fiscal year?

a) Treasury bill

b) SOE bonds

c) FIDF bonds

d) Government bonds

e) Debt restructuring bills

 

25) Which of the following statements is true in the context of the passage?

a) State-owned enterprise (SOE) bonds have a maturity period of five months.

b) On irredeemable debts, no interest is paid by the government.

c) A marketable debt is one in which the debt instruments are nego­tiable.

d)None of the above

e) All are true

 

26) Findthe incorrect statement on the basis of the given passage.

a)Redemption of public debt means repayment of debt.

b)Government borrows to stabilize and to control inflationary conditions.

c)Capital levy refers to a very heavy tax on property and wealth.

d) The tax element consists of difference between the terms of a voluntary and funded loan.

e) All are correct

 

27) Choose the word which as same meaning as the word “coercive”

a) discretionary

b)optional

c)elective

d)imperious

e) voluntary

 

28) Choose the word which as same meaning as the word “perpetual”

a)provisional

b)impermanent

c)transitory

d)transient

e) incessant

 

29) Choose the word which as opposite meaning as the word “hoarded”

a) squirreled away

b) put aside

c) thrown away

d)put away

e) hidden away

 

30) Choose the word which as opposite meaning as the word “oppression”

a) tyranny

b)emancipation

c)subjugation

d)domination

e) repression

 

ANSWERS:

1). Answer: b)

According to the sentence daunting will be used as it means seeming difficult to deal with in

2). Answer: d)

According to the sentence spawned will be used as it means to create or give rise to

3). Answer: a)

According to the sentence shrivelled will be used as it means to decrease or drop off

4). Answer: c)

According to the sentence stagnated will be used as it means to cease developing or stand still

5). Answer: b)

According to the sentence pledged will be used as it means to undertake formally to give something

6). Answer: a)

According to the sentence restructure will be used as it means to convert the debt into another kind of debt, typically one that is repayable at a later time.

7). Answer: b)

According to the sentence overhauling will be used as it means to overtake someone or gain on something

8). Answer: d)

According to the sentence weaned will be used as it means to make someone graduallystop using something that is bad or them

9). Answer: a)

According to the sentence gushed will be used as it means to flow out or issue suddenly

10). Answer: c)

According to the sentence stashed will be used as it means to store something safely in a hidden or secret place.

11). Answer: b)

Replace “waking” with “wake”

12). Answer: b)

Replace “custom” with “customary”

13). Answer: d)

Replace “in” with “under”

14). Answer: c)

Replace “volatile” with “volatility”

15). Answer: d)

Replace “giving” with “given”

16). Answer: d)

(C) Currencies are bought and sold, just like other commodities, in markets called foreign exchange markets.

(E) Like the price of any commodity, currency price is also determined by demand and supply of that currency in the international market.

(A) Demand for a country’s currency comes from its export of goods and services and foreign investment in the country.

(D) Supply for a country’s currency comes from its imports of goods and services and its investments in other countries.

(B) The value of currency fluctuates throughout the trading day.

This passage is about the currency and its value. According to the passage, like any commodity, the   currencies are also bought and sold in the foreign exchange market. The price of the currency is determined by its demand and supply in the international market. The demand of the country’s currency depends on its export and supply of currency depends on its imports.

 

17). Answer: d)

(E) The 29th Accountants General conference was inaugurated by President Ram NathKovind in New Delhi on October 10, 2018.

(B) The two-day conference was organised by the Comptroller and Auditor General of India.

(D) The Comptroller and Auditor General is an authority established by Article 148 of the Indian Constitution.

(A) This constitutional body is mandated to keep a watch on the system of governance in the country to ensure the best use to taxpayer’s money.

(C) Finance Minister ArunJaitley addressed the officers on the second day of the conference.

This passage is about the Accountants General conference. According to the passage, in New Delhi, President Ram NathKovind inaugurated 29th Accountants General conference. The conference was organized by Comptroller and Auditor General of India which has been established as an authority under Article 148 of the Indian Constitution. This authority has been instructed to observe the system of control in the country for the optimum utilization of taxpayers’ money.

18). Answer: c)

(B) Stocks are the financial asset, normally issued by the companies to raise capital from the general public.

(D) When a company offers stock, for sale, it sells the portion of its ownership for cash.

(E) Therefore, it represents the ownership of the holder in the company, determined by the proportion of stock held by him and they are traded on a stock exchange.

(C) The stocks are divided into two categories equity stock and preference stock and at the time of winding up of the company, the company discharges all of its dues first and after that, the stockholders are paid off with the residual amount.

(A) Some corporations issue preferred stock in addition to its common stock.

This passage is about the shares or stocks. According to the passage, company issues the financial assets like shares or stocks for raising the capital from the public. By offering shares for sale, company sells the portion of its ownership for cash. The ownership of shareholder is determined by the proportion of stocks held by him. At the event of the winding up of the company, it first pays its dues and after that shareholders are paid with remaining amount.

19). Answer: c)

(D) Sikkim has become the pioneer in organic farming.

(B) This achievement has made it world’s first totally organic agriculture State.

(E) UNFAO has shortlisted Sikkim for the UN Food and Agriculture Organisation’s (FAO) Future Policy Award.

(A) In 2015, Sikkim was announced as the first organic state in the world with more than 66,000 farming families practicing organic farming state-wide.

(C) In 2003, Sikkim stopped imports of chemical fertilizers in the State.

This passage is about Sikkim’s organic farming.  According to the passage, Sikkim has become first state which initiated the organic farming and due to this achievement it has become now world’s first totally organic agriculture State. Sikkim has been nominated for future policy award of UN Food and Agriculture Organisation. In 2015 it was declared as first organic state in the world where 66,000 farming families were practicing the organic farming.

20). Answer: e)

(C) The Union Cabinet, chaired by the Prime Minister NarendraModi, on October 10, 2018 approved the merger of the National Council for Vocational Training (NCVT) and the National Skill Development Agency (NSDA) to establish the National Council for Vocational Education and Training (NCVET).

(B) Once formed, the NCVET will regulate the functioning of entities engaged in vocational education and training, both long-term and short-term.

(D)  The NCVET’s main objective will be to improve standards of skill in the country.

(A) This merger will help achieve the twin objectives of enhancing aspirational value of vocational education, and increasing skilled manpower which will directly support the Prime Minister’s agenda of making India the skill capital of the world.

(E) The Council will be headed by a Chairperson and will have Executive and Non-Executive Members.

This passage is about the establishment of NCVET.  According to the passage, on 10th October’18, PM approved the merger of NCVT and NSDA in order to establish NCVET. Now the entities which are engaged in the vocational education will be regulated by NCVET. Improving the standards of skill in the country will be the main objective of NCVET. The twin objective will be achieved by this merger as it will improve motivational value of vocational education and will also increase the number of skilled persons.

21). Answer: b)

According to the passage, current account deficit will not be counted as a reason for increasing public debts as it is not given in the passage.

22). Answer: c)

It is clearly mentioned in the passage that by employing the “terminable annuities method” of debt redemption,   the burden of public debt diminishes annually.

23). Answer: e)

It is given in the passage that funded debts are created by the government when it has to create the capital assets. Capital assets are the fixed assets employed for generating income. The tools and equipments are capital assets which will be used for producing more output and income.

24). Answer: d)

It is clearly mentioned in the passage that in order to sponsor the budget deficit in financial year, government issues the government bonds.

25). Answer: c)

According to the passage, true statement is “A marketable debt is one in which the debt instruments are nego­tiable.”

26). Answer: d)

It is mentioned in the passage that the tax element consists of the difference between the terms of a voluntary and compul­sory loan. Compulsory loans create inconvenience, oppression and lack of confidence in the government.

27). Answer: d)

The meaning of “coercive” is “imperious/ authoritative/ bossy”.

28). Answer: e)

The meaning of “perpetual” is “nonstop /continuous / incessant”.

29). Answer: c)

The meaning of “hoarded” is “saved/ squirreled away” and its opposite is “thrown away /dumped / disposed of”.

30). Answer: b)

The meaning of “oppression” is “domination /coercion” and its opposite is “liberty / emancipation”.

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