“20-20” English Question | Crack SBI Clerk / IDBI Executive 2018 Day-52

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Directions (1-10): Read the following passage carefully and answer the questions given below it.

The estimate is loose but noteworthy nonetheless. The United Nations Office on Drugs and Crime reckons that every year crooks launder between $800bn and $2trn that they have made from trafficking, prostitution, corruption and other misdeeds. Governments keen to crack down on money-laundering are increasingly slapping financial firms with dizzying fines for failing to spot suspicious transactions or for overlooking. These rules are multiplying. In June, for example, the European Union’s fourth AML directive introduced a book’s worth of fresh regulations, and the next batch is already being drafted. To avoid falling foul of these new directions, financial firms are spending heavily on software that can detect transactions that should be blocked or flagged for human investigation.

The software looks for attributes that have historically been linked to laundering, such as unusual transactional patterns. Cash deposits to an account via distant branches are suspect. So are jumps in transaction size or frequency. Round sums are more dubious than exact ones, which are more likely to reflect legal commercial transactions. Unusually regular payments between individuals are also deemed suspicious, since debts between criminals are typically paid off in that way. Cultures matter, too. Some software considers transactions involving areas under Russian influence more likely to involve sleaze. AML software can also spot anomalies like payments for commodity imports that don’t square with ship itineraries, say. Alternatively a firm could attract attention if its spending on a commodity spikes to an unreasonable degree as the commodity’s price falls.

AML software also hunts for transactions that may involve an entity or person on any of hundreds of watch lists, including lengthy ones of officials worldwide who might have enough power to peddle influence. A tipoff might be the use of an account password or phone number linked to someone with a different name, say, or the transfer of money to an account held by the daughter of a politician’s new wife. Last year software developed by SAS, an American firm, began to look for words and imagery on social media to identify, among other things, people with suspiciously lavish lifestyles. SAS says rather more than half of transactions flagged result in the filing of a “suspicious-activity report” to authorities.

AML software renders crime riskier. This comes at a high cost, however. Banks must also spend fortunes on human analysts to follow up software alerts. The bill for investigating a single person can exceed €20,000 ($24,000), says Berlin Risk, a German consultancy that quietly interviews people with knowledge of potential launderers. A survey this year by Duff & Phelps, an advisory group, found that financial firms spend a staggering 4% of revenue on compliance. That cost is passed on to bank users. Beyond this, banks keen to avoid the cost of vetting transactions (while also reducing the risk of a fine), increasingly refuse to wire funds to some high-risk recipients. Many are charities in wretched areas, so, as the World Bank noted in a report last year, people “are literally dying as a result”.

1. According to the passage what is meant by falling foul in the statement “To avoid falling foul of these new directions, financial firms are spending heavily on software”.

1. An unsuccessful event
2. Fail to achieve the target
3. Loosing of capital
4. Getting into trouble of something
5. None of these

2. According to the passage what methods were used by which money laundering was done?

1. Corruption and misdeeds
2. Trafficking
3. Prostitution
4. Cash layering

1. i and ii
2. all except iv
3. ii and iii
4. i and iv
5. none of these

3. According to the passage what are the uses of anti-money-laundering (AML) software used by the financial firms?

1. AML hunts for transactions that may involve an entity or person on any of hundreds of watch lists even lengthy ones
2. AML software can also spot anomalies like payments for commodity imports that don’t square with ship itineraries.
3. AML software looks for attributes that are already linked to laundering, such as unusual transactional patterns.

1. i and ii
2. only iii
3. i and iii
4. all of the these
5. none of these

4. Which of the following is not true in the context of the passage?

1. Under AML software the bill of investigation of a single person can exceed $20,000.
2. According to the survey by Duff & Phelps financial firms spend 4% of revenue on compliance.
3. Every offender launders between $800billion and $2trillion.

1. i and iii
2. only ii
3. ii and iii
4. only i
5. none of these

5. According to the passage what is meant by phrase crack down in the statement – Governments keen to crack down on money-laundering are increasingly slapping financial firms.

1. To obstruct something
2. Delaying a process
3. To take severe or stern measures
4. Impeding a situation
5. None of these

6. Which of the following is true in the context of the passage?

1. AML software was developed by , an American firm, SAS
2. An alert for such unusual transaction can be detected for e.g. use of an account password or phone number linked to someone with a different name
3. According to SAS more than double of transactions flagged result in the filing of a suspicious-activity report to authorities.

1. i and iii
2. only i
3. ii and iii
4. all except iii
5. none of these

7. According to the passage what statements are mentioned on spending capital on software alerts by financial firms?

1. Financial firms spend a 4% of revenue on compliance.
2. Financial firms use to avoid the cost of vetting transactions and use to reduce the risk of a fine
3. Financial firms allow to reinforce funds to some high-risk recipients.

1. i and ii
2. ii and iii
3. only i
4. i and iii
5. all except iii

8. Choose the word which is most nearly the same in meaning as the word wretched printed in bold as used in the passage.

1. Worthwhile
2. Comforted
3. Encouraged
4. Blessed
5. Gloomy

9. Choose the word which is most nearly the same in meaning of the word staggering printed in bold as used in the passage.

1. Satisfactory
2. Instructive
3. Dammit
4. Bewilder
5. Explanatory

10. Choose the word which is most opposite in meaning of the word dizzying printed in bold as used in the passage.

1. Bewildering
2. Clear
3. Vertiginous
4. Unsteady
5. Woozy

Directions (Q 11-15): In each of the following sentences there is one blank space. Below each sentence there are four words denoted by a), b), c) d) and e). Find ONE word that to be fitted in both the sentences I and II and another word that to fit in sentence III and to make it meaning fully complete.

11)

1. Even though there are adverse effects to taking the medication, the drug’s manufacturer feels it is _________to ignore these reactions until a later date.
2. Although we need a solution to the water shortage, it is not ____________for us to take the first option on the table.
3. Even though there is a financial _________between the funds in my bank account and the amount of money I need to pay my bills, I still plan on going shopping this weekend.

1. Ad hoc, equality
2. Expedient, disparity
3. Opportune, impairment
4. Pragmatic, alter
5. Important, menace

12)

1. The _______ that interferes with Gerald’s goal of running a successful diner is the lack of good employees.
2. John’s slight speech__________ made it difficult for his mother to understand him.
3. Jordan felt the________ of handcuffs pressing tightly around his wrists.

1. Manacle, aggression
2. Furtherance, restraint
3. Impediment, constraint
4. Block, force
5. Hindrance, deterrent

13)

1. She turned her mind instead to the much more ________prospect of the evening’s activity.
2. It all brought back memories of a not very__________ past.
3. Discovering the ancient text, historians were sad to discover there was a _______in the middle with several missing pages.

1. Teach, break
2. Edifying, lacuna
3. Educating, closure
4. Uplifting, penetration
5. Epitomize, depression

14)

1. During the programming interview, make sure you _________your familiarity with coding languages.
2. He likes to wear clothes that_________ his muscular build.
3. Somehow,the _______of the message creates an inverse potential for misunderstanding.

1. Heighten, terseness
2. Accent, permanence
3. Divert, concision
4. Accentuate, brevity
5. Underscore, lengthiness

15)

1. It’s time to put my head down andfocus my energy and attention on the first stage in this________ journey.
2. Finding treatments that work for these patients entails an _______process of trial and error.
3. Carlyle continues to_______ with the lineup in an attempt to solidify the other combination.

1. Burdensome, destroy
2. Trivial, puddle
3. Strenuous, messed
4. Exhausting, disturb
5. Arduous, tinker

Direction (16-20) – In each of the following questions on phrase has been given and it has been followed by four sentences. You have to find out on which sentences phrase has been used properly according to its meaning and mark your answer from the options denoted a),b),c),d).Mark e) as your answer of you find that the phrase has been applied properly in all sentences.

16. Account for

1. Students account for the vast majority of our customers.
2. I can’t pay the balance, but here’s $10 on account for.
3. Sales over the internet last month accounted for 11.9 per cent of the total, excluding fuel, a new high.
4. She saw it through on account for me.

1. i and iii
2. ii and iv
3. i and ii
4. iii and iv
5. all are correct

17. Blow over

1. It is clear what he would like to do – to hope that the storm blows over.
2. My friend blew over in cabin of his office.
3. Her display of temper finally blew over.
4. I thought that after a few days the argument would blow over.

1. ii and iii
2. i and iv
3. all except ii
4. iii and iv
5. all are correct

18. Cut across

1. The problem cuts across all socioeconomic lines and affects all age groups.
2. His teaching cut across all human cultures and races.
3. Support for environmental issues cuts across traditional party lines.
4. School crime and violence cuts across urban, rural and suburban areas.

1. ii and iv
2. i and iii
3. ii and iii
4. i and iv
5. all are correct

19.Hand down

1. We’regoing to find everyone who had a hand in this robbery and arrest them.
2. The idea of handing down his knowledge from generation to generation is important to McLean.
3. These skills have been handed down from generation to generation.
4. It was pretty exciting to have a hand in launching the new business.

1. Only iv
2. i and iii
3. ii and iv
4. ii and iii
5. all are correct

20. Own up

1. The headmaster is waiting for someone to own up.
2. No one hasowned up to stealing the money.
3. Dan could have made this whole thing goaway simply by owning
4. I have worked less this week, so I have to own up for its next week.

1. ii and iv
2. i and iii
3. all except iv
4. i and ii
5. all are correct

Answers:

1. Correct answer – d)

Explanation – falling foul means to get into a situation where one is opposed to someone or something; to get into trouble with someone or something.

2. Correct answer – b)

Explanation- in the passage it is mentioned in para 1 The United Nations Office on Drugs and Crime reckons that every year crooks launder between $800 billion and $2trillion that they have made from trafficking, prostitution, corruption and other misdeeds.

3. Correct answer – d)

Explanation- it is mentioned in para 2 & 3 – The software looks for attributes that have historically been linked to laundering, such as unusual transactional patterns, AML software also hunts for transactions that may involve an entity or person on any of hundreds of watch lists, including lengthy ones of officials worldwide, AML software can also spot anomalies like payments for commodity imports that don’t square with ship itineraries

4. Correct answer – a)

Explanation- it is mentioned in para 1 & 4 – A survey this year by Duff & Phelps, an advisory group, found that financial firms spend a staggering 4% of revenue on compliance, The United Nations Office on Drugs and Crime reckons that every year crooks launder between $800billion and $2trillion.

5. Correct answer – c)

The meaning of crackdown is to address or control something more strictly than in the past or a period of stricter control of something.

6. Correct answer – d)

Explanation- it is mentioned in the passage in para 3 – Last year software developed by SAS, an American firm, A tipoff might be the use of an account password or phone number linked to someone with a different name.

7. Correct answer – e)

Explanation- it is mentioned in para 3 – financial firms spend a staggering 4% of revenue on compliance. That cost is passed on to bank users. Beyond this, banks keen to avoid the cost of vetting transactions (while also reducing the risk of a fine).

8. Correct answer – e)

Explanation- very unfortunate in condition or circumstances; miserable, pitiable or worthless.

9. Correct answer – d)

Explanation- the meaning of word astonishing or surprising.

10. Correct answer – b)

Explanation- the meaning of dizzying is to make (someone) feel unsteady, confused, amazed or unclear.

Directions (Q 11-15):

11. Correct Answer is: b)

The meaning of “expedient” is convenient and practical although possibly improper or immoral“(of an action).” and it is suitable for i and ii blanks and the meaning of “disparity” is “a great difference.” so it is appropriate for iii blank.

12.  Correct Answer is: c)

The meaning of “impediment” is a hindrance or obstruction in doing something.” and it is suitable for i and ii blanks and the meaning of “constraint” is “a limitation or restriction.” so it is appropriate for iii blank.

13. Correct Answer is: b)

The meaning of “edifying” is instruct or improve (someone) morally or intellectually.” and it is suitable for i and ii blanks and the meaning of “lacuna” is “an unfilled space; a gap.” so it is appropriate for iii blank.

14. Correct Answer is: d)

The meaning of “accentuate” make more noticeable or prominent.” and it is suitable for i and ii blanks and the meaning of “brevity” is “concise and exact use of words in writing or speech.” so it is appropriate for iii blank.

15. Correct Answer is: e)

The meaning of “arduous” involving or requiring strenuous effort; difficult and tiring.” and it is suitable for i and ii blanks and the meaning of “tinker” is “to try to mend/improve.” so it is appropriate for iii blank.

Directions (Q 16-20):

16. Correct Answer is: a)

The meaning of “account for” is to give reasons for an event, act, or to make or provide a reckoning of expenditure, payments and the phrase has been applied properly in i and iii sentences.

17. Correct Answer is: c)

The meaning of “blow over” is to (of trouble) fade away without serious consequences and the phrase has been applied properly in i, iii and iv sentences

18. Correct Answer is: e)

The meaning of “cut across” is to “run through” or “intersect,” and the phrase has been applied properly in all sentences

19. Correct Answer is: d)

The meaning of “hand down” is “to transmit in succession (as from father to son) or to make official formulation of and express (the opinion of a court)” and the phrase has been applied properly in ii and iii sentences.

20. Correct Answer is: c)

The meaning of “own up” is “admit to having done something wrong or embarrassing.” and the phrase has been applied properly in i, ii and iii sentences

Daily Practice Test Schedule | Good Luck

Topic	Daily Publishing Time
Daily News Papers & Editorials	8.00 AM
Current Affairs Quiz	9.00 AM
Logical Reasoning	10.00 AM
Quantitative Aptitude “20-20”	11.00 AM
Vocabulary (Based on The Hindu)	12.00 PM
Static GK Quiz	1.00 PM
English Language “20-20”	2.00 PM
Banking Awareness Quiz	3.00 PM
Reasoning Puzzles & Seating	4.00 PM
Daily Current Affairs Updates	5.00 PM
Data Interpretation / Application Sums (Topic Wise)	6.00 PM
Reasoning Ability “20-20”	7.00 PM
English Language (New Pattern Questions)	8.00 PM
General / Financial Awareness Quiz	9.00 PM

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