ENGLISH - Online Test
Q1.
Direction: Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you locate them while answering some of the questions.
The idea that every individual should have access to a minimum guaranteed basic income is not new. Thomas Paine sought an equal inheritance for everyone, “a national fund” which would pay every adult a sum of “fifteen pounds sterling as compensation” for the introduction of the system of landed property. Over the last century, with the Great Depression, welfare policy in the U.S. was transformed with minimum wage legislation, while Keynesianism meant that the government would attempt to stimulate the economy during downturns by directly financing public employment and public works. Long-term support was offered to the aged, the disabled and single mothers while unemployment insurance sought to support the temporarily unemployed. The 1960s brought about the war on poverty, waged through federally funded social service and healthcare programmes. Milton Friedman sought a negative income tax, eliminating the need for a minimum wage and potentially the “welfare trap”, while bureaucracy could be curtailed. Richard Nixon supported and yet failed to push through a “Family Assistance Plan” while George McGovern’s 1972 campaign sought a $1,000 “demogrant” for all citizens. This decadal struggle against poverty in the West cut the number of those in poverty in the U.S. to 26 million from 36 million in 12 years. Education and health care were improved, but the employability and the income of the poor remained stranded. With the rise of neo-liberalism, opinion shifted. Existing welfare systems had grown too cumbersome, without eliminating poverty.
Now, however, the idea of an unconditional annual income is gathering momentum. Y Combinator, of Silicon Valley fame, is testing out a new business model: handing out money, without any strings, in an unnamed U.S. community in an attempt to replace safety net welfare policies that often fail to help those with the greatest need. Finland is considering a plan to give 100,000 citizens $1,000 a month, while four cities in Netherlands are starting trial programmes. Switzerland may have rejected, in a referendum, the idea of giving citizens about $2,500 a month, but the Canadian province of Ontario is planning a trial run. Progressives hail it as an escape route for workaholics, from oppressive jobs and situations, giving individuals greater time to build relationships and pursue education or artistic endeavours. Conservatives applaud its potential to shrink bureaucracy. As job concerns about automation grow, the basic income stands out as a panacea.
Even India has seen its share of basic income experiments. A pilot in eight villages in Madhya Pradesh provided over 6,000 individuals a monthly payment (Rs.100 for a child, Rs.200 for an adult; later raised to Rs.150 and Rs.300, respectively). The money was initially paid out as cash, while transitioning to bank accounts three months later. The transfer was unconditional, saving the prevention of substitution of food subsidies for cash grants. The results were intriguing. Most villagers used the money on household improvements while taking precautions against malaria — 24.3 per cent of the households changed their main source of energy for cooking or lighting; 16 per cent had made changes to their toilet. There was a seeming shift towards markets, instead of ration shops, given better financial liquidity, leading to improved nutrition, particularly among SC and ST households, and better school attendance and performance. There was an increase in small-scale investments (better seeds, sewing machines, equipment repairs etc). Bonded labour decreased, along with casual wage labour, while self-employed farming and business activity increased. Financial inclusion was rapid – within four months of the pilot, 95.6 per cent of the individuals had bank accounts. Within a year, 73 per cent of the households reported a reduction in their debt. There was no evidence of any increase in spending on alcohol.
Before moving ahead, we would need more data to prove its applicability in the Indian context. There have only been eight large-scale pilot programmes testing the impact of a universal basic income on human well-being. Social context too matters — what might have worked in Manitoba or Kenya might not necessarily be applicable to India. We need a greater depth of pilot studies, focussed on ensuring universal access and covering minimum living expenses. With more pilots planned in Oakland, Netherlands, Germany and India, insights developed can be used to modify welfare policy.
Which among the following is the MOST OPPOSITE in meaning to the word “curtailed”?
Answer : Option A
Explaination / Solution:
'curtail' means to cut short. Contrary to it, 'amplifying' is the most suitable response.
Q2.
Direction: Read the following passage carefully and answer the question given below it. Certain words are printed in bold to help you locate them while answering some of the questions.
The concept of ‘Corporate Governance’ and ‘Corporate Social Responsibility’ are two concepts that have been developed by western economies. A company which is well managed and governed is successful in the sense that it fulfils the aims of all its stakeholders and grows with sustainability. Such an organization should be able to fulfil its obligation towards the society at large and in the process be able to help in sustaining its progress as well as progress of the economy as a whole. These concepts have become all the more relevant in developing and emerging economies and have spread across all sectors. Financial institutions and banks are spear headers of economic development in emerging economies. The onus of capital accumulation, in view of a low savings rate, along with mobilization of capital into productive and priority sectors of the economy, lies on the banks and financial institutions. These institutions thus play a dual role in prevalence of good governance norms and ensuring that the society gets its due. On one hand, banks and financial institutions must practice good governance norms as well as fulfil their obligations towards society by practicing good CSR, whilst they should ensure that the large corporations do the same by virtue of being large investors in these corporations.
The issue of relationship or complementarity of Corporate Governance and Corporate Social Responsibility has been often discussed. The concept of ‘Corporate Governance’ essentially points towards ethical functioning of a corporation whereby in the process of achievement of the goal of profit maximization, the rights and interests of all the stakeholders of the corporation should be protected.
Corporate Social responsibility essentially consists of or refers to actions of a corporation which benefits the society in general, an external stake holder of the corporation and it may contradict with the interests of one or more internal stakeholders. However, it is not essential that the interests may necessarily contradict. It has been widely observed that successful corporations generally give it back to the society as they continue to benefit from it.
The practice of good governance norms in banks is essential as it directs and leads economic growth as well as economic development in an economy. The banks and other financial institutions, basically function for the benefit of the society, hence the practice of CSR activities by banks assumes added significance. CSR practices are not only for external stake holders of an organization, but it embodies many aspects like employee relations, diversity, human right activities, non-practice of harmful policies, compensation policies practiced by organization etc. The CSR activities also help in brand building of organizations, which is an important aspect for banks and financial institutions as well in view of increasing competition in this sector.
In the context of the given passage, a successful company can be defined as a company that-
Answer : Option D
Explaination / Solution:
This can be interpreted from the initial lines of the passage, “Such an organization should be able to fulfill its obligation towards the society at large and in the process be able to help in sustaining its progress as well as progress of the economy as a whole.”
Q3. Directions: Read each sentence to find out whether there is any grammatical mistake/error in it. The error if any, will be one part of sentence. Mark the number of the part with errors as your answer. If there is 'No error', mark (5).
If you have made a mistake(1)/while filling up the form(2)/you should be informed(3)/the Income Tax department immediately(4)/ No error (5)
Answer : Option C
Explaination / Solution:
There is error in Part (3). Here Active voice that is “should inform” should be used.
Hence Option C is correct
Q4. Direction: Which of the following is the MOST OPPOSITE in meaning to the given word?
Answer : Option E
Explaination / Solution:
Perfidious means untrustworthy.
Mendacious means not telling the truth; lying.
Duplicitous means deceitful.
Treasonous means involving or guilty of the crime of betraying one's country.
Treacherous means guilty of or involving betrayal or deception.
Steadfast means loyal; resolutely or dutifully firm and unwavering.
Hence, steadfast is the correct answer.
Q5.
Direction: Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you locate them while answering some of the questions.
The idea that every individual should have access to a minimum guaranteed basic income is not new. Thomas Paine sought an equal inheritance for everyone, “a national fund” which would pay every adult a sum of “fifteen pounds sterling as compensation” for the introduction of the system of landed property. Over the last century, with the Great Depression, welfare policy in the U.S. was transformed with minimum wage legislation, while Keynesianism meant that the government would attempt to stimulate the economy during downturns by directly financing public employment and public works. Long-term support was offered to the aged, the disabled and single mothers while unemployment insurance sought to support the temporarily unemployed. The 1960s brought about the war on poverty, waged through federally funded social service and healthcare programmes. Milton Friedman sought a negative income tax, eliminating the need for a minimum wage and potentially the “welfare trap”, while bureaucracy could be curtailed. Richard Nixon supported and yet failed to push through a “Family Assistance Plan” while George McGovern’s 1972 campaign sought a $1,000 “demogrant” for all citizens. This decadal struggle against poverty in the West cut the number of those in poverty in the U.S. to 26 million from 36 million in 12 years. Education and health care were improved, but the employability and the income of the poor remained stranded. With the rise of neo-liberalism, opinion shifted. Existing welfare systems had grown too cumbersome, without eliminating poverty.
Now, however, the idea of an unconditional annual income is gathering momentum. Y Combinator, of Silicon Valley fame, is testing out a new business model: handing out money, without any strings, in an unnamed U.S. community in an attempt to replace safety net welfare policies that often fail to help those with the greatest need. Finland is considering a plan to give 100,000 citizens $1,000 a month, while four cities in Netherlands are starting trial programmes. Switzerland may have rejected, in a referendum, the idea of giving citizens about $2,500 a month, but the Canadian province of Ontario is planning a trial run. Progressives hail it as an escape route for workaholics, from oppressive jobs and situations, giving individuals greater time to build relationships and pursue education or artistic endeavours. Conservatives applaud its potential to shrink bureaucracy. As job concerns about automation grow, the basic income stands out as a panacea.
Even India has seen its share of basic income experiments. A pilot in eight villages in Madhya Pradesh provided over 6,000 individuals a monthly payment (Rs.100 for a child, Rs.200 for an adult; later raised to Rs.150 and Rs.300, respectively). The money was initially paid out as cash, while transitioning to bank accounts three months later. The transfer was unconditional, saving the prevention of substitution of food subsidies for cash grants. The results were intriguing. Most villagers used the money on household improvements while taking precautions against malaria — 24.3 per cent of the households changed their main source of energy for cooking or lighting; 16 per cent had made changes to their toilet. There was a seeming shift towards markets, instead of ration shops, given better financial liquidity, leading to improved nutrition, particularly among SC and ST households, and better school attendance and performance. There was an increase in small-scale investments (better seeds, sewing machines, equipment repairs etc). Bonded labour decreased, along with casual wage labour, while self-employed farming and business activity increased. Financial inclusion was rapid – within four months of the pilot, 95.6 per cent of the individuals had bank accounts. Within a year, 73 per cent of the households reported a reduction in their debt. There was no evidence of any increase in spending on alcohol.
Before moving ahead, we would need more data to prove its applicability in the Indian context. There have only been eight large-scale pilot programmes testing the impact of a universal basic income on human well-being. Social context too matters — what might have worked in Manitoba or Kenya might not necessarily be applicable to India. We need a greater depth of pilot studies, focussed on ensuring universal access and covering minimum living expenses. With more pilots planned in Oakland, Netherlands, Germany and India, insights developed can be used to modify welfare policy.
Which among the following is MOST SIMILAR in meaning to the word “sought”?
Answer : Option C
Explaination / Solution:
'sought' means wanted. Corresponding to it, 'desired' is the most suitable response.
Q6.
Direction: Read the following passage carefully and answer the question given below it. Certain words are printed in bold to help you locate them while answering some of the questions.
The concept of ‘Corporate Governance’ and ‘Corporate Social Responsibility’ are two concepts that have been developed by western economies. A company which is well managed and governed is successful in the sense that it fulfils the aims of all its stakeholders and grows with sustainability. Such an organization should be able to fulfil its obligation towards the society at large and in the process be able to help in sustaining its progress as well as progress of the economy as a whole. These concepts have become all the more relevant in developing and emerging economies and have spread across all sectors. Financial institutions and banks are spear headers of economic development in emerging economies. The onus of capital accumulation, in view of a low savings rate, along with mobilization of capital into productive and priority sectors of the economy, lies on the banks and financial institutions. These institutions thus play a dual role in prevalence of good governance norms and ensuring that the society gets its due. On one hand, banks and financial institutions must practice good governance norms as well as fulfil their obligations towards society by practicing good CSR, whilst they should ensure that the large corporations do the same by virtue of being large investors in these corporations.
The issue of relationship or complementarity of Corporate Governance and Corporate Social Responsibility has been often discussed. The concept of ‘Corporate Governance’ essentially points towards ethical functioning of a corporation whereby in the process of achievement of the goal of profit maximization, the rights and interests of all the stakeholders of the corporation should be protected.
Corporate Social responsibility essentially consists of or refers to actions of a corporation which benefits the society in general, an external stake holder of the corporation and it may contradict with the interests of one or more internal stakeholders. However, it is not essential that the interests may necessarily contradict. It has been widely observed that successful corporations generally give it back to the society as they continue to benefit from it.
The practice of good governance norms in banks is essential as it directs and leads economic growth as well as economic development in an economy. The banks and other financial institutions, basically function for the benefit of the society, hence the practice of CSR activities by banks assumes added significance. CSR practices are not only for external stake holders of an organization, but it embodies many aspects like employee relations, diversity, human right activities, non-practice of harmful policies, compensation policies practiced by organization etc. The CSR activities also help in brand building of organizations, which is an important aspect for banks and financial institutions as well in view of increasing competition in this sector.
Why are CSR practices considered essential for banks and other financial institutions?
(i) Because these institutions are essential for the economic development of a country
(ii) Because their primary motive is to serve the society
(iii) Because CSR helps in improving the image of these institutions
(i) Because these institutions are essential for the economic development of a country
(ii) Because their primary motive is to serve the society
(iii) Because CSR helps in improving the image of these institutions
Answer : Option C
Explaination / Solution:
The first two options can be interpreted from these lines of the passage, “The practice of good governance norms in banks is essential as it directs and leads economic growth as well as economic development in an economy. The banks and other financial institutions, basically function for the benefit of the society, hence the practice of CSR activities by banks assumes added significance.” The third option can be interpreted from the last lines of the passage i.e “The CSR activities also help in brand building of organizations, which is an important aspect for banks and financial institutions as well in view of increasing competition in this sector.” Hence, all of the above options are correct.
Q7. Directions: Read each sentence to find out whether there is any grammatical mistake/error in it. The error if any, will be one part of sentence. Mark the number of the part with errors as your answer. If there is 'No error', mark (5).
Reading newspapers will (1)/help you(2)/ in understand banking(3)/and business Concepts(4)/ No error(5)
Answer : Option C
Explaination / Solution:
There is error in Part (3). UNDERSTAND should be replaced by UNDERSTANDING.
Hence Option C is correct
Q8. Which of the following is the MOST OPPOSITE in meaning to the word ‘saccharine’?
Answer : Option A
Explaination / Solution:
Saccharine means sweet, respectful, complaisant or sentimental. Ingratiating means the same as saccharine. Obstinate is the opposite of complaisant, hence keep it on hold. Convalescent means improving. Effusive means the same as sentimental. Duteous means courteous, mannerly.
Hence, obstinate is the most suitable response.
Q9.
Directions:Read the following passage carefully and answer the questions given below it. Certain words/ phrases are given in bold to help you locate them while answering some of the questions.
Now let us turn back to inquire whether sending our capital abroad, and consenting to be taxed to pay emigration fares to get rid of the women and men who are left without employment in consequence, is all that capitalism can do when our employers, who act for our capitalists in industrial affairs, and are more or less capitalists themselves in the earlier stages of capitalistic development, find that they can sell no more of their goods at a profit, or indeed at all, in their own country.
Clearly they cannot send abroad the capital they have already invested, because it has all been eaten up by the workers, leaving in its place factories and railways and mines and the like; and these cannot be packed into a ship's hold and sent to Africa. It is only the freshly saved capital that can be sent out of the country. This, as we have seen, does go abroad in heaps of finished products. But the British land held by him on long lease, must, when once he has sold all the goods at home that his British customers can afford to buy, either shut up his works until the customers have worn out their stock of what they have bought, which would bankrupt him (for the landlord will not wait), or else sell his goods somewhere else; that is, he must send them abroad. Now it is not easy to send them to civilized countries, because they practise Protection, which means that they impose heavy taxes (customs duties) on foreign goods. Uncivilized countries, without Protection, and inhabited by natives to whom gaudy calicoes and cheap showy brassware are dazzling and delightful novelties, are the best places to make for at first.
But trade requires a settled government to put down the habit of plundering strangers. This is not a habit of simple tribes, who are often friendly and honest. It is what civilized men do where there is no law to restrain them. Until quite recent times it was extremely dangerous to be wrecked on our own coasts, as wrecking, which meant plundering wrecked ships and refraining from any officious efforts to save the lives of their crews, was a well-established business in many places on our shores. The Chinese still remember some astonishing outbursts of looting perpetrated by English ladies of high position, at moments when law was suspended and priceless works of art were to be had for the grabbing. When trading with aborigines begins with the visit of a single ship, the cannons and cutlasses carried may be quite sufficient to overawe the natives if they are troublesome. The real difficulty begins when so many ships come that a little trading station of white men grows up and attracts the white ne'er-do-wells and violent roughs who are always being squeezed out of civilization by the pressure of law and order. It is these riff-raff who turn the place into a sort of hell in which sooner or later missionaries are murdered and traders plundered. Their home governments are appealed to put a stop to this. A gunboat is sent out and inquiry made. The report after the inquiry is that there is nothing to be done but set up a civilized government, with a post office, police, troops and the navy in the offing. In short, the place is added to some civilized Empire. And the civilized taxpayer pays the bill without getting a farthing of the profits.
Of course the business does not stop there. The riff-raff who have created the emergency move out just beyond the boundary of the annexed territory, and are as great a nuisance as ever to the traders when they have exhausted the purchasing power of the included natives and push on after fresh customers. Again they call on their home government to civilize a further area; and so bit by bit the civilized Empire grows at the expense ofthe home taxpayers, without any intention or approval on their part, until at last although all their real patriotism is centred on their own people and confined to their own country, their own rulers, and their own religious faith; they find that the centre of their beloved realm has shifted to the other hemisphere. That is how we in the British Islands have found our centre moved from London to the Suez Canal, and are now in the position that out of every hundred of our fellow-subjects, in whose defence we are expected to shed the last drop of our blood, only 11 are whites or even Christians. In our bewilderment some of us declare that the Empire is a burden and a blunder, whilst others glory in it as a triumph. You and I need not argue with them just now, our point for the moment being that, whether blunder or glory, the British Empire was quite unintentional. What should have been undertaken only as a most carefully considered political development has been a series of commercial adventures thrust on us by capitalists forced by their own system to cater to foreign customers before their own country's needs were one-tenth satisfied.
It may be inferred that the passage was written:
Answer : Option A
Explaination / Solution:
The passage refers to the British Government as the 'Empire', and talks about the way it takes over foreign territories.
Q10.
Direction: Read the following passage carefully and answer the question given below it. Certain words are printed in bold to help you locate them while answering some of the questions.
The concept of ‘Corporate Governance’ and ‘Corporate Social Responsibility’ are two concepts that have been developed by western economies. A company which is well managed and governed is successful in the sense that it fulfils the aims of all its stakeholders and grows with sustainability. Such an organization should be able to fulfil its obligation towards the society at large and in the process be able to help in sustaining its progress as well as progress of the economy as a whole. These concepts have become all the more relevant in developing and emerging economies and have spread across all sectors. Financial institutions and banks are spear headers of economic development in emerging economies. The onus of capital accumulation, in view of a low savings rate, along with mobilization of capital into productive and priority sectors of the economy, lies on the banks and financial institutions. These institutions thus play a dual role in prevalence of good governance norms and ensuring that the society gets its due. On one hand, banks and financial institutions must practice good governance norms as well as fulfil their obligations towards society by practicing good CSR, whilst they should ensure that the large corporations do the same by virtue of being large investors in these corporations.
The issue of relationship or complementarity of Corporate Governance and Corporate Social Responsibility has been often discussed. The concept of ‘Corporate Governance’ essentially points towards ethical functioning of a corporation whereby in the process of achievement of the goal of profit maximization, the rights and interests of all the stakeholders of the corporation should be protected.
Corporate Social responsibility essentially consists of or refers to actions of a corporation which benefits the society in general, an external stake holder of the corporation and it may contradict with the interests of one or more internal stakeholders. However, it is not essential that the interests may necessarily contradict. It has been widely observed that successful corporations generally give it back to the society as they continue to benefit from it.
The practice of good governance norms in banks is essential as it directs and leads economic growth as well as economic development in an economy. The banks and other financial institutions, basically function for the benefit of the society, hence the practice of CSR activities by banks assumes added significance. CSR practices are not only for external stake holders of an organization, but it embodies many aspects like employee relations, diversity, human right activities, non-practice of harmful policies, compensation policies practiced by organization etc. The CSR activities also help in brand building of organizations, which is an important aspect for banks and financial institutions as well in view of increasing competition in this sector.
Which of the following statements can be inferred from the given passage?
(i) Banks and financial institutions are capable to exert pressure on the corporations to practice good CSR
(ii) CSR practices erodes the profitability of the corporations
(iii) CSR is a mutually benefitting concept for corporations and the society
(i) Banks and financial institutions are capable to exert pressure on the corporations to practice good CSR
(ii) CSR practices erodes the profitability of the corporations
(iii) CSR is a mutually benefitting concept for corporations and the society
Answer : Option E
Explaination / Solution:
Option (i) can be inferred from these lines of the passage, “On one hand, banks and financial institutions must practice good governance norms as well as fulfil their obligations towards society by practicing good CSR, whilst they should ensure that the large corporations do the same by virtue of being large investors in these corporations.”
Option (ii) cannot be inferred from the given passage.
Option (iii) can be inferred from these lines of the passage, “Such an organization should be able to fulfil its obligation towards the society at large and in the process be able to help in sustaining its progress as well as progress of the economy as a whole.”
