Important Questions BASED on NEW Pattern (Day-22): English(Reading Comprehension):

Important Questions BASED on NEW Pattern (Day-22): English(Reading Comprehension):

Dear Readers, IBPS Examinations was approaching shortly and many of our followers were requesting us to provide Practice Questions based on the new pattern, for that here WE have started providing Practice Questions Based on New pattern from Aptitude, Reasoning and English each one topic daily. Kindly follow us regularly and make use of it, if you have any suggestion kindly use the comment section below.

[WpProQuiz 582]

Direction (Q 1-10): Read the following passage carefully and answer the questions. Certain words/ phrases are given in bold to help you locate them while answering some of the questions.

Windsor, a community of 6,200 people two hours outside Albany in New York state, offers many of the amenities commonly found in a small town, including a bakery, a car-repair outfit and several restaurants. There is just one thing missing: a bank. The town’s only financial institution, First Niagara Bank, shut its doors in October. Towns like Windsor are becoming ever more common in America. Since the financial crisis, banks have closed over 10,000 branches, an average of three a day. In the first half of 2017 alone, a net 869 brick-and-mortar entities shut their doors, according to S&P Global Market Intelligence, a research firm. Some fret that branch closures risk turning poorer neighbourhoods into “banking deserts”, cut off from current accounts, loans and other basic services. Not long ago, the notion that Americans might lack sufficient access to bank tellers would have seemed absurd. In the years leading up to the crisis, bricks-and-mortar branches grew by about 200 each month. By 2009, according to the World Bank, America had 35 branches for every 100,000 adults, twice as many as Germany. Since then, however, ultra-low interest rates and thickets of new regulations have squeezed bank profits. They have responded by trimming branches from a peak of about 100,000 to roughly 90,000.

Bank bosses maintain that they are “optimising” their branch networks to fit changing customer habits. But the cuts have not been made evenly. Data from the Federal Deposit Insurance Corporation (FDIC) show that the top fifth of all postal codes by household income lost around 3% of their branches between 2009 and 2016. During this period, the bottom fifth saw their branch numbers decline by 10%. Community organisations worry that if branches continue to close in poor areas, many neighbourhoods could become reliant on payday lenders and cheque-cashing stores. In June the Federal Reserve Bank of St Louis estimated that there are now more than 1,100 banking deserts—defined as census areas at least ten miles from a bank—in America. That figure could easily double if small community banks continue to close. In May the National Community Reinvestment Coalition, a non-profit group, published a report showing that the number of banking deserts in rural areas has increased by 86 since the crisis. The situation may be less dire than it seems. An analysis of FDIC data by The Economist shows that banking deserts, using the Fed’s definition, are home to just 1.7% of the population. For most of the country, banks are still within easy reach—typically just two miles away. Nine out of ten Americans live within five miles of a bank; half live within one mile.

Even if banks remain accessible to most, branch closures can take a heavy toll. “The loss of a bank has a significant impact on communities,” says James Chessen of the American Bankers Association. The cost is greatest for small businesses, which often lack audited financial statements and other information that can be analysed remotely. “At the local community level, so much of that business is driven by relationships,” says Chris Vanderpool of S&P Global Market Intelligence. “The farther out you are, the harder it is to manage those relationships.” A study in 2014 by Hoai-Luu Nguyen, now at the University of California, Berkeley, estimates that when branches close, new small-business lending falls by 13% in the surrounding area. In low-income neighbourhoods, such lending contracts by nearly 40%. Even if financial regulation loosens and interest rates rise, branches are likely to thin further. JLL, a property firm, reckons that by 2027 the number of bricks-and-mortar branches could have declined by another 20%. The risk of widespread banking deserts may be a mirage. But small-business lending could still suffer.

Q1. According to author what is the main problem of Windsor community?

  1. They are living very far from New York.
  2. They don’t have basic amenities.
  3. They don’t have any financial institution.
  1. Only 1
  2. Only 2
  3. Only  3
  4. 1 & 2
  5. All of the above

Q2. What is true regarding the passage?

  1. There is financial crisis in America.
  2. Banks have closed over 10,000 branches.
  3. Closure of the branches started since financial crisis.
  1. Only 1
  2. Only 2
  3. 2 &  3
  4. 1 & 2
  5. All of the above

Q3. Why nobody had imagined that Americans will lack sufficient access to banks?

  1. Because till 2009 America had 35 branches for every 100,000 adults.
  2. There were growth of 200 branches every month before crisis.
  3. Because American were totally depend on the banking system.
  1. Only 1
  2. Only 2
  3. Only  3
  4. 1 & 2
  5. All of the above

Q4. What can be the effects of closing of the bank branches according to community organisation?

  1. Many can start relying on payday lenders.
  2. Many can also rely on cheque cashing store.
  3. Many can start trading through cash only.
  1. Only 1
  2. Only 2
  3. Only  3
  4. 1 & 2
  5. All of the above

Q5. What can be true regarding banking desert?

  1. Currently there are more than 1100 banking desert.
  2. Closure of the bank branches in small community will increase the number of banking desert.
  3. According to passage banking desert is a kind of desert with no bank branches.
  1. Only 1
  2. Only 2
  3. Only  3
  4. 1 & 2
  5. All of the above

Q6. What is true regarding FDIC data?

  1. Lack of accessibility of banks to the Americans is very poor.
  2. Mostly population of America are suffering from banking desert.
  3. Still mostly Americans have easy access to bank.
  1. Only 1
  2. Only 2
  3. Only  3
  4. 1 & 2
  5. All of the above

Direction (Q 7-8)Choose the word/group of words which is most similar in meaning to the word/group of words printed in bold as used in passage.

Q7. Amenities

  1. Convenience
  2. Availability
  3. Places
  4. Institution
  5. None of the above

Q8. Thickets

  1. Corrigendum
  2. Lack
  3. Files
  4. Clump
  5. None of the above

Direction (Q 9-10)Choose the word/group of words which is most opposite in meaning to the word/group of words printed in bold as used in passage

Q9. Absurd

  1. Logical
  2. Definite
  3. Dream
  4. Ludicrous
  5. None of the above

Q10. Fret

  1. Calm
  2. Feel
  3. Worry
  4. Forecast
  5. None of the above
[WpProQuiz 582]
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