IBPS Clerk Prelims 2018 – English Questions (Cloze Test) Day-6

Dear Readers, Bank Exam Race for the Year 2018 is already started, To enrich your preparation here we have providing new series of Practice Questions on English language – Section. Candidates those who are preparing for IBPS Clerk Prelims 2018 Exams can practice these questions daily and make your preparation effective.

IBPS Clerk Prelims 2018 – English Questions Day-6

Direction (1-10): In a passage given below there are 10 blanks, each followed by a word given in bold. Even 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”.

The new series of sovereign gold bonds have been opened for _(1)_[donation]_today. The government has _(2)_[placed]_the price at Rs 3,146 per gram for the 2018-19 Series II sovereign gold bond scheme. The scheme will be opened till October 19 and the bonds will be issued on October 23. Sovereign gold bonds will be issued every month from October 2018 to February 2019, the RBI had said earlier. The next tranche will be open from November 5-9 and issuance will be on November 13.

The bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, and stock exchanges – BSE and NSE.

For those who apply online and the payment is made through the digital mode, the government in consultation with the RBI has decided to allow a _(3)_[cut rate]_of Rs 50 per gram from the issue price. So for online applications, the issue price will be Rs 3,096 per gram (Rs 3146 – Rs 50).

The sovereign gold bond scheme, which _(4)_[is]_launched in 2015, is basically government securities denominated in grams of gold. The bonds are denominated in multiples of gram(s) of gold with a basic unit of 1 gram.

Investors pay the _(5)_[release]_price in cash and the bonds will be _(6)_[substituted]_in cash on maturity. The redemption price will be linked to the prevailing price of gold. The bond is issued by the RBI on behalf of the government.

The minimum investment in sovereign gold bond scheme is 1 gram of gold and the maximum limit for individuals is 4 kg.

Sovereign gold bonds come with a maturity period of 8 years, with an _(7)_[departure]_option from the fifth year. Sovereign gold bonds are also _(8)_[changed]_on stock exchanges within a fortnight of issuance, offering an early exit option for investors.

The gold bonds pay interest at the rate of 2.50% per annum on the amount of initial investment. Interest is credited semi-annually to the bank account of the investor and the last interest payout will be on maturity along with the principal.

The interest on gold bonds is taxable according to provisions of the Income Tax Act. TDS is not applicable on the bond. But capital gains tax arising from redemption of sovereign gold bonds has been _(9)_[excepted]_.

Sovereign gold bonds can also be used as _(10)_[pledge]_for loans.

1)

a) disbursement

b) contribution

c) subscription

d) payment

e) No change required

2)

a) arranged

b) established

c) settled on

d) fixed

e) No change required

3)

a) price cut

b) reduction

c) discount

d) markdown

e) No change required

4)

a) may

b) should

c) are

d) was

e) No change required

5)

a) discharge

b) issue

c) distribute

d) circulation

e) No change required

6)

a) exchanged

b) converted

c) redeemed

d) replaced

e) No change required

7)

a) walking out

b) exit

c) going away

d) removal

e) No change required

8)

a) substituted

b) switched

c) operated

d) traded

e) No change required

9)

a) excluded

b) spared

c) exempted

d) excused

e) No change required

10)

a) pawn

b) warranty

c) assurance

d) collateral

e) No change required

Answers:

1) Answer: c)

According to the sentence “subscription” will be used as it means “An arrangement to receive something, regularly by paying in advance”.

2) Answer: d)

According to the sentence “fixed” will be used as it means “set/ established”.

3) Answer: c)

According to the sentence “discount” will be used as it means “concession /deduction”.

4) Answer: d)

According to the sentence “was” will be used as the part of sentence is based on passive voice of past.

5) Answer: b)

According to the sentence “issue” will be used as it means “to give, supply, or produce something official”.

6) Answer: c)

According to the sentence “redeemed” will be used as the meaning of “redeem” is “Repay (a stock, bond, or other instrument) at the maturity date”.

7) Answer: b)

According to the sentence “exit” will be used as it means “withdrawal/ leaving”.

8) Answer: d)

According to the sentence “traded” will be used as the meaning of “trade” is “deal / buy and sell”.

9) Answer: c)

According to the sentence “exempted” will be used as the meaning of “exempt” is “free from”.

10) Answer: d)

According to the sentence “collateral” will be used as it means “security/ guarantee”.

Daily Practice Test Schedule | Good Luck

Topic Daily Publishing Time
Daily News Papers & Editorials 8.00 AM
Current Affairs Quiz 9.00 AM
Current Affairs Quiz (Hindi) 9.30 AM
IBPS PO Prelims – Reasoning 10.00 AM
IBPS PO Prelims – Quantitative Aptitude 11.00 PM
Vocabulary (Based on The Hindu) 12.00 PM
IBPS PO Prelims – English Language 1.00 PM
IBPS PO/Clerk – GK  3.00 PM
Daily Current Affairs Updates 5.00 PM
IBPS Clerk Prelims – Reasoning 6.00 PM
IBPS Clerk Prelims – Reasoning (Hindi) 6.30 PM
IBPS Clerk Prelims – Quantitative Aptitude 7.00 PM
IBPS Clerk Prelims – Quantitative Aptitude (Hindi) 7.30 PM
IBPS Clerk Prelims – English Language 8.00 PM

 

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