As IBPS has released the official notification of the Common Recruitment Process for selection of personnel for Clerical cadre Posts and the exam is tentatively scheduled to be held December 2018 & January 2019. Looking at the notification, we have now started subject-wise quizzes for the exam. It will include quizzes of all the subjects- Quantitative Aptitude, English, Reasoning and Computer. All these quizzes will be strictly based on the latest pattern of the IBPS Clerk exam and will be beneficial for your preparations. So, keep following the quizzes which will provide you a set of 10 questions daily.
Q1-10. In the following passage there are blanks each of which has been numbered. These numbers are printed below the passage and against each five words have been suggested, one of which fits the blanks appropriately. Find out the appropriate word in each case.
If you’ve watched the famous Hollywood flick ‘Robocop’, which features a superhuman law enforcer, then robo-advisors may (1) up images of robots handing out financial advice in synthesised voices. As (2) as it sounds, that’s not the case.
A robo-advisor is essentially an online financial advisory firm that uses automation and algorithms to offer investment advice. It not only helps you choose the right investment but also provides the platform to complete the transaction. and monitor the portfolio on an (3) basis. Through the use of online tools these new breed of advisors also promise to lower costs.
Robo-advisory firms in India vary in the way they offer services, but (4) offer a basket of mutual funds you can invest in. Some operate on an advisory model and charge an advisory fee. You can then invest in mutual funds through the platform for which these platforms also charge convenience fees for (5) the transaction. The mutual fund investments are in direct plans where the returns are typically higher by up to 1 per cent, somewhat offsetting the additional fees you pay for advisory services. Direct plans save on the commission payable to the distributor.
The second category of firms operates on a distribution model, similar to traditional advisors. They advise on funds and assets to invest in and the transaction. is completed through the platform, all for free. The platforms, in turn, earn a commission from the mutual fund house. You can use the platform for free, but only to invest in regular plans. If you want to invest in direct plans, you will have to do it (6).
Finally, there are also platforms that have a mixed model. They charge you for the advice in case you opt to transact on your own. Take the case of a similar example. It charges an annual fee of ?1,000 approx. for financial advice. And you are free to buy the units directly from the fund house. But if you choose to make the (7) through its platform, they will waive the service fee and offer you free advice. This is because they facilitate investment in regular option and thereby earn a commission from the fund house.
Another One, on the other hand, (not a robo-advisory in the true sense) only provides guidance through calculators on how much (8) you must build to meet various goals. To invest, it directs you to sites such as FundsIndia.com.
Robo-advisors mostly offer a portfolio made up of debt and equity mutual funds. Within this, some firms only offer a limited set of funds that are pre-selected by their algorithm and in-house experts.
Others may provide a (9) selection of funds and some also include a wider asset base that includes gold ETFs, bonds and tax-saving investments.
Some advisors may also provide you advice on keeping your funds in cash based on market condition and a choice of liquid funds. The aim of these platforms, in the near future, is to be a one-stop shop for all financial advice, offering insurance, loan and property, and (10) such as tax filing.
Q1. Choose the correct option for (1)
1. exorcise
2. conjure
3. disgust
4. repel
5. loathing
Q2. Choose the correct option for (2)
1. anarchic
2. stylish
3. hypnogogic
4. old fashioned
5. futuristic
Q3. Choose the correct option for (3)
1. progressing
2. bygone
3. intermittent
4. ongoing
5. perpetual
Q4. Choose the correct option for (4)
1. predominantly
2. fundamentally
3. secondarily
4. supremely
5. habitually
Q5. Choose the correct option for (5)
1. enduring
2. hindering
3. facilitating
4. expedite
5. retard
Q6. Choose the correct option for (6)
1. violation
2. independently
3. exclusive
4. partially
5. constantly
Q7. Choose the correct option for (7)
1. asset
2. divestment
3. endowment
4. investment
5. bounty
Q8. Choose the correct option for (8)
1. corpus
2. oeuvre
3. pith
4. tenor
5. tendency
Q9. Choose the correct option for (9)
1. roomy
2. skimpier
3. ample
4. wider
5. needy
Q10. Choose the correct option for (10)
1. maintenance
2. disfavour
3. esteem
4. endorsement
5. services
ANSWERS
Q1. (2) conjure- appealing to
For other options:- exorcise- purge, purify
Loathing- hatred
Q2. (5) futuristic- modern
For other options:- anarchic- old
Hypnogogic- surreal
Q3. (4) ongoing
For other options:- intermittent- irregular
Perpetual- continual
Q4. (1) Predominantly- primarily
For other options:- supremely- exceptionally
Q5. (3) Facilitating
For other options:- enduring – lasting
Expedite- make happen faster
Q6. (2) Independently
For other options:- exclusively- particularly
Partially- incompletely
Q7. (4) investment
For other options:- divestment- take
Endowment- gift
Bounty- bonus
Q8. (1) Corpus
For other options: - tenor- meaning
Tendency- inclination to think
Q9. (4) wider
For other options:- skimpier- inadequate
Ample- sufficient
Q10. (5) services
For other options:- disfavour- disgrace
Endorsement- support
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