Dear Readers,
Mahendras has started special quizzes for SBI / RBI Main Exam so that you can practice more and more to crack the examination. This SBI / RBI Main Exam quiz series will mold your preparations in the right direction and the regular practice of these quizzes will be really very helpful in scoring good marks in the Examination. Here we are providing you important question of English Language for SBI / RBI Main Exam.
Read the following passage carefully and answer the questions given below it.
Insurance plays an important role in an economy and a strong pillar of financial market. A well-developed insurance sector promotes economic growth by encouraging more industrial activities through risk-taking. For economic development investments are necessary. Investments are made out of savings. Life Insurance Company is a major instrument for the mobilization of savings of people, particularly from the middle and lower group. All good life insurance companies have huge funds accumulated through the payments of small amounts of premium of individuals. These funds are invested in ways that contribute substantially for the economic development of the countries in which they do business The system of insurance provides numerous direct and indirect benefits to the individuals and his family as well as to industry and commerce and to the community and the nation as a whole. Present day organization of industry, commerce and trade depend entirely on insurance for their operation, banks, and financial institutions lend money to industrial and commercial undertakings only on the basis of the collateral security of insurance.
Insurance is the only sector which garners long term savings. Insurers are increasingly introducing innovative products to meet the specific needs of the prospective policyholders. An evolving insurance sector is of vital importance for economic growth. While encouraging savings habit. It also provides a safety net to both enterprises and Individuals.
Insurance Companies receive, without much default, a steady cash stream of premium or contributions to pension plans. Various actuary studies and models enable them to predict, relatively accurately, their expected cash outflows.
Liabilities of Insurance companies being long-term or contingent in nature, liquidity is excellent and their investments are also long-term in nature. Since they offer more than the return on savings in the shape of life-cover to the investors, the rate of return guaranteed in their insurance policies is relatively low. Consequently, the need to seek high rates of returns on their investments is also low. The risk-return trade off is heavily titled in favour of risk.
The insurance industry also provides crucial financial intermediary services, transferring funds from the insured to capital investment, critical for continued economic expansion and growth, simultaneously generating long-term funds for infrastructure development.
In fact infrastructure investments are ideal for asset-liability matching for life insurance companies given their long term liability profile. According to preliminary estimates published by the Reserve Bank of India, contribution of insurance funds to financial savings was 14.2 per cent in 2005-06, viz., 2.4 per cent of the GDP at current market prices. Development of the insurance sector is thus necessary to support continued economic transformation. Social security and pension reforms too benefit from a mature insurance industry.
Insurance reduces the capital firms need to operate. It fosters investment and innovation by creating an environment of greater certainty. Insurers are solid partners for the development of a workable supplementary system of social protection, in particular in the field of retirement and health provision. Insurance promotes sensible risk-management measures through the price mechanism and other methods and contributes to responsible and sustainable economic development. Insurance fosters stable consumption throughout the consumer’s life.
Q1 Choose the word which is most SIMILAR in meaning to the word given in bold as used in the passage.
ACCUMULATED
01. collected
02. estimated
03. demanded
04. donated
05. decorated
Q2 Choose the word which is most SIMILAR in meaning to the word given in bold as used in the passage.
MOBILIZATION
01. combination
02. population
03. store
04. demand
05. accumulation
Q3 Choose the word which is most SIMILAR in meaning to the word given in bold as used in the passage.
SUBSTANTIALLY
01. popularly
02. regularly
03. enrichment
04. significantly
05. positive
Q4 Choose the word which is most OPPOSITE in meaning to the word given in bold as used in the passage.
CRUCIAL
01. important
02. precious
03. thwart
04. biased
05. unimportant
Q5 Choose the word which is most OPPOSITE in meaning to the word given in bold as used in the passage.
SIMULTANEOUSLY
01. concurrently
02. separately
03. independent
04. continue
05. consequently
Q-6 Which of the following statement/s is/are TRUE in context to the passage?
(A) In fact infrastructure investments are ideal for asset-liability matching for life insurance companies without given their long term liability profile.
(B) Development of the insurance sector is not necessary to support continued economic transformation.
(C) Liabilities of Insurance companies being long-term or contingent in nature, liquidity is excellent and their investments are also long- term in nature.
01. Only A
02. Only B
03. Only C
04. All A, B and C
05. Only B and C
Q-7 Which of the following statement/s is/are FALSE in context to the passage?
01. An annuity or a pension is type of settlement option where the insured gets regular stream of income after the completion of the maturity period when the insured reaches the vesting age.
02. Insurance reduces the capital firms need to operate
03. Insurers are solid partners for the development of a workable supplementary system of social protection, in particular in the field of retirement and health provision.
04. Insurance plays an important role in an economy and a strong pillar of financial market.
05. None of the above
Q-8 Insurance fosters investment and_________
01. contribution of insurance funds
02. innovation by creating an environment of greater certainty.
03. economic expansion and growth
04. industrial activities through risk-taking.
05. the public at large and not merely from its shareholders or members
Q-9 What was the contribution of insurance funds to financial savings in 2005-06?
01. 2.4 per cent
02. 12.9 per cent
03. 14.2 per cent
04. 14.3 per cent
05. 11.7 per cent
Q10 Which of the following is possibly the most appropriate title for the passage?
01. Contribution of Indian Economy
02. Role of insurance sector in Economic Development
03. The Unorganized Sector
04. A Productive Sector
05. None of the above
Answers
1. (1)
2. (5)
3. (4)
4. (5)
5. (2)
6. (3)
7. (1)
8. (2)
9. (3)
10. (2)
Mahendras has started special quizzes for SBI / RBI Main Exam so that you can practice more and more to crack the examination. This SBI / RBI Main Exam quiz series will mold your preparations in the right direction and the regular practice of these quizzes will be really very helpful in scoring good marks in the Examination. Here we are providing you important question of English Language for SBI / RBI Main Exam.
Read the following passage carefully and answer the questions given below it.
Insurance plays an important role in an economy and a strong pillar of financial market. A well-developed insurance sector promotes economic growth by encouraging more industrial activities through risk-taking. For economic development investments are necessary. Investments are made out of savings. Life Insurance Company is a major instrument for the mobilization of savings of people, particularly from the middle and lower group. All good life insurance companies have huge funds accumulated through the payments of small amounts of premium of individuals. These funds are invested in ways that contribute substantially for the economic development of the countries in which they do business The system of insurance provides numerous direct and indirect benefits to the individuals and his family as well as to industry and commerce and to the community and the nation as a whole. Present day organization of industry, commerce and trade depend entirely on insurance for their operation, banks, and financial institutions lend money to industrial and commercial undertakings only on the basis of the collateral security of insurance.
Insurance is the only sector which garners long term savings. Insurers are increasingly introducing innovative products to meet the specific needs of the prospective policyholders. An evolving insurance sector is of vital importance for economic growth. While encouraging savings habit. It also provides a safety net to both enterprises and Individuals.
Insurance Companies receive, without much default, a steady cash stream of premium or contributions to pension plans. Various actuary studies and models enable them to predict, relatively accurately, their expected cash outflows.
Liabilities of Insurance companies being long-term or contingent in nature, liquidity is excellent and their investments are also long-term in nature. Since they offer more than the return on savings in the shape of life-cover to the investors, the rate of return guaranteed in their insurance policies is relatively low. Consequently, the need to seek high rates of returns on their investments is also low. The risk-return trade off is heavily titled in favour of risk.
The insurance industry also provides crucial financial intermediary services, transferring funds from the insured to capital investment, critical for continued economic expansion and growth, simultaneously generating long-term funds for infrastructure development.
In fact infrastructure investments are ideal for asset-liability matching for life insurance companies given their long term liability profile. According to preliminary estimates published by the Reserve Bank of India, contribution of insurance funds to financial savings was 14.2 per cent in 2005-06, viz., 2.4 per cent of the GDP at current market prices. Development of the insurance sector is thus necessary to support continued economic transformation. Social security and pension reforms too benefit from a mature insurance industry.
Insurance reduces the capital firms need to operate. It fosters investment and innovation by creating an environment of greater certainty. Insurers are solid partners for the development of a workable supplementary system of social protection, in particular in the field of retirement and health provision. Insurance promotes sensible risk-management measures through the price mechanism and other methods and contributes to responsible and sustainable economic development. Insurance fosters stable consumption throughout the consumer’s life.
Q1 Choose the word which is most SIMILAR in meaning to the word given in bold as used in the passage.
ACCUMULATED
01. collected
02. estimated
03. demanded
04. donated
05. decorated
Q2 Choose the word which is most SIMILAR in meaning to the word given in bold as used in the passage.
MOBILIZATION
01. combination
02. population
03. store
04. demand
05. accumulation
Q3 Choose the word which is most SIMILAR in meaning to the word given in bold as used in the passage.
SUBSTANTIALLY
01. popularly
02. regularly
03. enrichment
04. significantly
05. positive
Q4 Choose the word which is most OPPOSITE in meaning to the word given in bold as used in the passage.
CRUCIAL
01. important
02. precious
03. thwart
04. biased
05. unimportant
Q5 Choose the word which is most OPPOSITE in meaning to the word given in bold as used in the passage.
SIMULTANEOUSLY
01. concurrently
02. separately
03. independent
04. continue
05. consequently
Q-6 Which of the following statement/s is/are TRUE in context to the passage?
(A) In fact infrastructure investments are ideal for asset-liability matching for life insurance companies without given their long term liability profile.
(B) Development of the insurance sector is not necessary to support continued economic transformation.
(C) Liabilities of Insurance companies being long-term or contingent in nature, liquidity is excellent and their investments are also long- term in nature.
01. Only A
02. Only B
03. Only C
04. All A, B and C
05. Only B and C
Q-7 Which of the following statement/s is/are FALSE in context to the passage?
01. An annuity or a pension is type of settlement option where the insured gets regular stream of income after the completion of the maturity period when the insured reaches the vesting age.
02. Insurance reduces the capital firms need to operate
03. Insurers are solid partners for the development of a workable supplementary system of social protection, in particular in the field of retirement and health provision.
04. Insurance plays an important role in an economy and a strong pillar of financial market.
05. None of the above
Q-8 Insurance fosters investment and_________
01. contribution of insurance funds
02. innovation by creating an environment of greater certainty.
03. economic expansion and growth
04. industrial activities through risk-taking.
05. the public at large and not merely from its shareholders or members
Q-9 What was the contribution of insurance funds to financial savings in 2005-06?
01. 2.4 per cent
02. 12.9 per cent
03. 14.2 per cent
04. 14.3 per cent
05. 11.7 per cent
Q10 Which of the following is possibly the most appropriate title for the passage?
01. Contribution of Indian Economy
02. Role of insurance sector in Economic Development
03. The Unorganized Sector
04. A Productive Sector
05. None of the above
Answers
1. (1)
2. (5)
3. (4)
4. (5)
5. (2)
6. (3)
7. (1)
8. (2)
9. (3)
10. (2)
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MAHENDRA GURU