English Language Quiz For IBPS & SBI Exam | 14-10-2021

 

 

Dear Readers,

Mahendras has started special quizzes for IBPS & SBI Exam so that you can practice more and more to crack the examination. This IBPS & SBI Exam special 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 the important question of reasoning ability for the IBPS & SBI Exam.

Q1-10 Read the following passage carefully and answer the questions given below it. Certain words have been given in bold to help you locate them while answering some questions.

The escalation of tariff on gold import in the recent past shows the Centre’s commitment towards curbing gold imports, which creates perennial pressure on India’s current account deficit. Will such a policy succeed?

A study for the period April 1996 to March 2014 conducted on sensitivity of demand for yellow metal to prices and other factors in India reveals that such tariff increases may have negligible effect. In 2009-10, the Indian government had increased import duty on all forms of gold imports, but this had minimal impact on buying. In January 2012, import duty on gold was again raised to 2 per cent of value from the earlier flat ?300/10 gm and subsequently three times in 2013 to 10 per cent.

In 2013, the Reserve Bank of India (RBI) introduced the 80:20 scheme which required gold importers to re-export 20 per cent of the incoming gold and also banned import of gold through star trading houses. But the resultant shortfall in supply had led to a phenomenal rise in the premium on gold in the market and a spike in gold smuggling. Gold demand in India is, by no means, easy to understand. The massive accumulation of gold for centuries has led to approximately 22,000 tonnes of gold being hoarded by Indian households . The demand for gold is driven by economic, socio-cultural and psychological factors.

In India almost the entire demand for gold is met by imports. It is imported in three forms, namely powder, semi-manufactured and unwrought forms. Gold jewellery demand is linked to the first two forms whereas the latter represent demand for gold bars. The changing demand pattern is reflected in the spectacular rise in import of gold bars due to its appeal as ‘safe haven’ after mid-2008. On the contrary, jewellery demand dropped in 2008 and 2009 and remained steady afterwards.

There are two important aspects of gold demand which are usually overlooked by policy makers. First, many decisions concerning gold consumption take time to change. These decisions include long-terem commitments such as accumulating wealth for adverse financial situations. Second, there may exist a psychological stock in consumers’ mind. If the stock of gold falls short, s/he would purchase gold. Quite often the policies are based on aggregate gold demand pattern, while different components of gold-demand behave differently.

Our study finds that jewellery demand is more sensitive to price changes than the demand for gold bars. During the study period, the proportion of imports of unwrought form of gold (i.e. bars) had been 82.8 per cent on an average and never fallen below 53.3 per cent, while the other two forms of gold have been 17.2 per cent on an average and never shot up beyond 46.7 per cent. Therefore the tariff escalation would not reduce import of gold bars substantially, while it could bring down gold jewellery demand more in the long run than in the short run.

In the post-crisis period, gold jewellery demand was subdued following a successive rise in tariff, but the total gold demand remained virtually unaffected due to resilience in demand for bars. Such findings should help policymakers.

Q1 What are the requirements of the 80:20 scheme that the Reserve Bank of India (RBI) introduced ?

A. gold importers to re-export 20 per cent of the incoming gold

B. To ban import of gold through star trading houses.

C. rise in the premium on gold in the market

D. spike in gold smuggling.

01. Only A

02. Only B

03. Both A and B

04. Both C and D

05. All of the above

Q2 In India gold is imported in which of the following forms?

01. powdered gold

02. semi-manufactured gold

03. unwrought forms of gold

04. both A and B

05. All of the above

Q3 What is referred as the YELLOW METAL in the given passage?

01. Copper

02. Platinum

03. Gold

04. Bronze

05. Silver

Q4 Which of the following is /are are the aspects of gold demand usually overlooked by the policy makers?

01. many decisions concerning gold consumption are quick.

02. for adverse financial situations.

03. there may exist a psychological stock in consumers’ mind.

04. Both A and B

05. All of the above

Q5 Which of the following sentences is/are NOT TRUE in context to the passage?

01. jewellery demand dropped in 2008 and 2009 and remained steady afterwards.

02. In 2009-10, the Indian government had decreased import duty on all forms of gold imports.

03. The demand for gold is driven by economic, socio-cultural and psychological factors.

04. The massive accumulation of gold for centuries has led to approximately 22,000 tonnes of gold being hoarded by Indian households

05. All of the above

Q6 Out of the given combinations, find which is/are the correct match for each other.

A. RBI’s 80-20 scheme - 2013

B. jwellery demand drop - 2008

C. Raise in import duty of gold - 2014

D. Proportion of unwrought gold imports- never shot up beyond 53%

01. Only A

02. Both A and B

03. Only C

04. Only D

05. All of the above

Q7 Which of the following option is the most similar in meaning to the word 'hoarded' as given in the passage?

01. distributed

02. squandered

03. stashed

04. molested

05. mishandled

Q8 Which of the following word is the most similar in meaning to the word 'safe haven' as given in the passage?

01. monastery

02. lamasery

03. precipice

04. port in a storm

05. asylum

Q9 Which of the following words is the most opposite to the meaning of the word 'curbing' as given in the passage?

01. restricted

02. bridle

03. trammel

04. lauded

05. facilitate

Q10 Which of the following words is the most opposite in meaning to the word 'perennial' as given in the passage?

01. temperory

02. durable

03. ceaseless

04. endeavor

05. conatus

Answers:-

Q.1 (3)

Q.2 (5)

Q.3 (3)

Q.4 (3)

Q.5 (2)

Q.6 (2)

Q.7 (3)

Q.8 (4)

Q.9 (5)

Q.10 (1)