“20-20” English Question | Crack SBI Clerk / IDBI Executive 2018 Day-54

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“20-20” English Questions | Crack SBI Clerk 2018 (Day-54)

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

U.S. Federal Reserve continues to slowly pull away the punch bowl as the party gets going. This week the Fed raised its benchmark short-term interest rate by 25 basis points to 1.50-1.75%, the highest in a decade. While this is only the sixth rate increase since the financial crisis of 2008 which pushed central banks to cut interest rates to historic lows it portends further increases in global interest rates. Higher borrowing costs could squeeze both markets and the wider economy. If its dot-plot projections are considered, the Fed under its new Chairman Jerome Powell who chaired the Federal Open Market Committee meeting for the first time on Wednesday is expected to raise rates two more times in 2018. And with the American economy projected to grow at a fairly healthy clip amid quickening inflation, the increases in the Fed’s discount rate are expected to gather pace over the next two years. Now, as the Fed and other global central banks move towards normalizing monetary policy, the impact on the wider credit markets is slowly beginning to show. This is particularly so in the case of the interbank lending market, which is directly influenced by central banks to affect interest rates across the board. The London Interbank Offered Rate, which is the rate at which international banks lend to each other and serves as a benchmark for lending rates, has risen for more than thirty consecutive sessions and is at its highest since the financial crisis. Its effect has spilled over into other markets, including the corporate debt market.

Rising rates amid improving global economic growth could adversely affect the capacity of private firms to service their debt. This risk of default by private borrowers has been flagged by various organisations, including the International Monetary Fund last month. It is, after all, no secret that private corporations attracted by ultra-low interest rates had heavily loaded up on debt over the last decade. Some companies borrowed heavily from across the borders, thus making them prone to exchange rate risks as well. Any widespread default on debt today would be reminiscent of the 2004-2006 period when the Fed’s raising of rates to tackle inflation led to a mass default on U.S. mortgage debt. Global markets on Friday witnessed a steep sell-off that was immediately linked to President Donald Trump’s recent decision to impose new tariffs on China. Trade wars clearly have a negative impact on global growth and corporate earnings. But the wider sell-off, under way since February, can also be linked to rising interest rates which adversely affect asset prices. India, which could be hit by fund outflows as overseas investors look homeward to benefit from the rising rates, would do well to take precautionary steps.

1). According to the passage what was a reason that pushed central banks to cut interest rates to lowest ever.

  1. low liquidity in the market
  2. Financial crisis in the country
  3. High inflation rate
  1. i and ii
  2. all except iii
  3. ii and iii
  4. only ii
  5. none of these

2). According to the passage the London Interbank Offered Rate has risen how many times consecutively since the financial crisis.

  1. 18
  2. 15
  3. 25
  4. 28
  5. 30

3). According to the passage what is the meaning of phrase spilled over in the sentence- Its effect has spilled over into other markets, including the corporate debt market.

  1. to underwhelm
  2. to overflow in superabundance or excess
  3. spoiling of something
  4. to hold something/someone
  5. none of these

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

  1. Fed raised its benchmark short-term interest rate by 25 basis points
  2. The Federal Open Market Committee meeting is expected to raise rates four more times in 2018.
  3. This risk of default by private borrowers has been paved the International Monetary Fund.
  1. Only ii
  2. ii and iii
  3. i and iii
  4. all except iii
  5. none of these

5). According to the passage what do you mean by the London bank offered rate?

  1. When the Federal Reserve Bank makes a short-term loan to a financial institution, they apply an interest rate known as London bank offered rate
  2. Rate levied when a country’s currency doesn’t vary according to the FOREX market. The country makes sure that its value against the dollar, or other important currencies, remain the same.
  3. It is the rate at which banks borrow unsecured funds from one another in the interbank market.
  4. The rate refers to the interest rate that commercial lenders use with their best or most credit-worthy customers. This rate is based on the federal funds rate, or a daily rate that banks use when they borrow and lend funds with each other.
  5. It is the rate at which international banks lend to each other and serves as a benchmark for lending rates.

6). According to the passage what was the reason of sharp rise in sell off in the global market?

  1. Rising of interest rates
  2. Trade wars in the global market
  3. Imposition of new tariffs on china
  4. Rise in inflation rate
  1. i and ii
  2. only iii
  3. ii and iv
  4. i and iii
  5. only ii

7). Which of the following is true in the context of the passage?

  1. Trade wars have a negative impact on global growth and corporate earnings.
  2. Rising rates could have a positive effect on the capacity of private firms to service their debt.
  3. American economy projected to grow at a healthy rise, the increase in the Fed’s discount rate is expected to gather pace.
  1. i and ii
  2. only iii
  3. i and iii
  4. ii and iii
  5. none of these

 8). Choose the word which is most nearly the same in meaning as the word “portends” printed in bold as used in the passage

  1. Oblivious
  2. Promising
  3. Foreshadow
  4. Unrelated
  5. Mumble

 9). Choose the word which is most nearly the same in meaning as the word “reminiscent” printed in bold as used in the passage.

  1. Unconcerned
  2. Amnesic
  3. Disregardful
  4. Forgetful
  5. Mnemonic

 10). Choose the word which is most opposite in meaning of the word “homeward” printed in bold as used in the passage

  1. Unoriented
  2. Leeward
  3. Approaching
  4. Arrival
  5. Incoming

 

Directions: (Q 11-15) – In each of the questions the part given in bold is correct and rest of parts may contain error. You have to find out in which of these part there is an error and mark your answer from the options given – a),b),c),d). Mark e) as your answer if you find sentence has no error.

11). According to Michal Kosinski of the Stanford Graduate School of Business, who in 2012 pioneered the use of Facebook data to study personality, a)/“academic researchers have virtually no access even to public available data without b)/ breaking a given platform’s terms of service” Firms’ scruples in these c)/ matters are not driven only by desire for commercial secrecy d)/no error e)/.

  1. a
  2. b
  3. c
  4. d
  5. e

12). The States, which have a statutory responsibility for provision of health care a)/, have to act quick and form dedicated agencies to run the scheme; since b)/ the NHPM represents the foundation for a universal health coverage system that should eventually cover all Indians, it needs to be given c)/ a sound legal basis, ideally in a separate law d)/no error e)

  1. a
  2. b
  3. c
  4. d
  5. e

13). Democrats are much more likely to admire the United Nations then a)/ Republicans are; the few topics that received high scores from both b)/parties tended to be blandly unobjectionable, such as nurses and farmers c)/,perhaps the strongest point of concurrence was that respondents from both parties found Congress equally distasteful d)/no error e)/

  1. a
  2. b
  3. c
  4. d
  5. e

14). Understanding algorithms’ behavior is particularly urgent in the existing digital-advertising “ecosystem” a)/, in which individual users of software are, in effect b)/, in their own Skinner boxes with their actions c)/constantly monitor, and tailored rewards fed to them d)/no error e)/

  1. a
  2. b
  3. c
  4. d
  5. e

15). The new reality means that India’s population of the 100,000 or so registered Tibetan refugees are more cut off from developments in their homeland a)/than ever before; new generations of Tibetans born in India are brought on b)/ as exiles, without a real sense of what Tibet may c)/actually be like, should they ever return d)/no error e)/

  1. a
  2. b
  3. c
  4. d
  5. e

Direction(16-20) choose the set of word for each blank that best fits sentence and are grammatically correct.

16). The recent announcement of tariffs on steel and aluminium imports has been followed by a wide list of ____________including the EU; President Trump’s strategy seems to be to threaten and then to withdraw those threats in return for small ___________from the other side.

  1. Immunity, grants
  2. Exemptions, concessions
  3. Dispensations, rollback
  4. Release , repudiations
  5. Liabilities, permissions

17). In India, there are still communities that have no access to the central electricity grid, or the supply from the central grid is ________, a micro grid getting electricity supply from solar and wind, and connected to consumers in an _______remote community, is helpful in providing electricity for lighting, in charging mobile phones, and small livelihood

  1. Reckless, mingling
  2. Erratic, usual
  3. Unreliable, isolated
  4. Unpredictable, abnormal
  5. Perpetual, outlying

18). Nor should they generally welcome a situation where President Trump’s ______are deemed to be successful, that might only encourage further_______; after all, there have been 31 Godzilla movies so far. 

  1. Maneuver, turmoil
  2. Tactics, rampages
  3. Technique, harmonies
  4. Cessations, distructions
  5. Campaign, blow up

19). One reform he championed involved improving its ability to lend confidence-boosting dollops of cash to sound banks when markets get_________, which in turn has allowed regulators to be tougher with the most indebted companies without causing systemic_________.

  1. Excitable, headaches
  2. Capricious, contentment
  3. Composed, vexation
  4. Skittish, distress
  5. Spirited, euphoria

20). Mr. Xi’s imprint on China’s economic bureaucracy was also _______, the most important official, apart from the president himself, will be Liu He, a mild-mannered policymaker who has risen from relative _________to become Mr. Xi’s trusted adviser on the economy.  

  1. Bizarre, dark
  2. Eccentric, ambiguous
  3. Distinctive, certainty
  4. Predominant, dimness
  5. Unconventional, obscurity

Answer:

1). Correct answer- d)

It is mentioned in para 1 – While this is only the sixth rate increase since the financial crisis of 2008 which pushed central banks to cut interest rates to historic lows

2). Correct answer- e)

It is mentioned in para 1 The London Interbank Offered Rate, has risen for more than thirty consecutive sessions

3). Correct answer- b)

It means the excess part of something any indirect effect of public expenditure

4). Correct answer- a)

It is mentioned in para 1&2 – This week the Fed raised its benchmark short-term interest rate by 25 basis points, the Fed under its new Chairman Jerome Powell who chaired the Federal Open Market Committee meeting for the first time on Wednesday is expected to raise rates two more times in 2018, This risk of default by private borrowers has been flagged by various organisations, including the International Monetary Fund last month.

5). Correct answer- e)

It is mentioned in para 1 The London Interbank Offered Rate, which is the rate at which international banks lend to each other and serves as a benchmark for lending rates.

6). Correct answer- b)

It is mentioned in para 2 -Global markets on Friday witnessed a steep sell-off that was immediately linked to President Donald Trump’s recent decision to impose new tariffs on China.

7). Correct answer- c)

Tt is mentioned in para 1&2- And with the American economy projected to grow at a fairly healthy clip amid quickening inflation, the increases in the Fed’s discount rate are expected to gather pace over the next two years, Trade wars clearly have a negative impact on global growth and corporate earnings.

8). Correct answer- c)

The meaning of the word portends is be a sign or warning that (something, especially something momentous or calamitous) is likely to happen or foreshadow.

9). Correct answer- e)

The meaning of the word suggesting something by resemblance suggesting something by resemblance

10). Correct answer- e)

The meaning of the word homeward is oriented or arriving.

 

Directions: (Q 11-15) –

11). Correct answer- b)

In part b) publicly will be used in place of public

12). Correct answer- d)

In part d) through (which means by way of, or within the limits or medium of or having reached the end of; done with) will be used in place of in.

13). Correct answer- a)

In part a) than will be used in place of then because there is a comparison between united nations and republicans by democrats.

14). Correct answer- d)

In part d) monitored will be used in place of monitor

15). Correct answer- b)

In part b) up (brought up means nurture or teach) will be used in place of on

Direction(16-20)

16). Correct answer- b)

The meaning of “exemptions” is “the action of freeing or state of being free from an obligation or liability imposed on others.” and it is suitable for i blank and the meaning of “concessions” is “a thing that is granted, especially in response to demands.” so it is appropriate for ii blank.

17).   Correct answer- c)

The meaning of “unreliable” is “undependable” and it is suitable for i blank and the meaning of “isolated” is “far away from other places or solitary” so it is appropriate for ii blank.

18). Correct answer- b)

 The meaning of “tactics” is “approach or policy” and it is suitable for i blank and the meaning of “rampages” is “a period of violent and uncontrollable behavior by a group of people.” so it is appropriate for ii blank.

19). Correct answer- d)

 The meaning of “skittish” is “nervous or excitable; easily scared” and it is suitable for i blank and the meaning of “distress” is “extreme anxiety, suffering, or pain” so it is appropriate for ii   blank.

20). Correct answer- e)

The meaning of “unconventional” is “uncommon” and it is suitable for i blank and the meaning of “obscurity” is “a thing that is unclear or difficult to understand” so it is appropriate for ii   blank.

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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