English Quiz for IBPS PO & CLERK – MEMORY BASED IBPS EXAM PRACTICE
Directions (1-4): Read the following passage and answer the questions as directed.
Paragraph 1– One of the easiest ways to establish a savings habit is to participate in your employer’s 401(k) plan. Funds are withheld from each paycheck and deposited into your account. If your employer matches part of your contribution — and many do! — you will accumulate yet more. A second way to consistently save is with an automatic savings transfer program with your financial institution. You decide how much and when you want funds transferred from your checking account into a savings account. You can also use a payroll deduction plan from your employer and get the same results.
Paragraph 2– Along with how much and how often you save, what you earn on your funds will determine how fast your money grows. You cannot control what happens with interest rates or the stock market, but you can consider different types of savings vehicles that provide different returns. The simplest savings vehicle to consider is buying certificates of deposit (CDs) instead of leaving funds in a savings account. CDs usually offer higher interest rates, but they are time deposits and have …………… for early withdrawal. If you can accept not having immediate access to your funds, CDs can be an attractive savings vehicle.
Q1. Which of thefollowing can be inferred as the theme of the passage?
(a) Certificate of deposits is the best way to establish savings habit.
(b) Establishing a consistent saving habit and also smart saving with CDs.
(c) Employer’s 401(k) plan provides a convenient way for consistent and smart savings.
(d) Your savings decide how well you flourish and grow.
(e)None of the Above
Q2. Which of thefollowing can replace the word given in bold in the passage?
(a) though
(b) even
(c) quitely
(d) accrue
(e) more
Q3. What is the tone of writing in the passage?
(a) Satirical
(b)Critical
(c) Didactic
(d) Sarcastic
(e) Nostalgic
Q4. Which of the following words can fill in the blank to make it meaningful?
(a) gifts
(b)lucrative
(c) casualities
(d) penalties
(e) None of the Above
Directions (5-7): Read the following paragraph and answerthe questions as directed.
Budgeting is an important tool for saving. First, you need to segregate all your income and expenses. Now, categorise your expenses as least important, important and very important to prioritise them while settling them through your income, which is limited. Try to figure out ways in which you can increase expenses. Ensure that your income exceeds the expenses with aswider a margin as possible. The surplus fund after meeting all the expenses would be your saving. It is only after you have assured savings that you can thinking about investment.
Q5. Which of the followings is the correct chronology of steps as can be inferred from the passage?
(a) Saving-Budgeting-Investment
(b)Investment-Budgeting-Saving
(c) Budgeting-Saving-Investment
(d)Budgeting-Investment-Saving
(e) None of the Above
Q6. Which of the following words, opposite of the word given in bold, should replace the word given in bold in the passage?
(a) Enhance
(b)Curtail
(c) Damage
(d) Lengthen
(e) Leverage
Q7. Which of the following is the best way of writing the line given in italics in the paragraph, without changing its intended meaning?
(a) Surely, the income will exceed the expenses by a wider margin.
(b) The income will be greater than the expenses is not a possibility.
(c) Make sure that the income is greater than the expenses by a margin as wide as possible.
(d) If the income does not exceed the expenses by a wider margin,it will be useless.
(e) None of the Above
Directions (8-10):Read the following paragraph and answer the questions as directed.
The way most of us save is to put away whatever is left after all expenses are taken care of, or put away any surplus income. But that is not the best way of saving and there are chances of us falling short. A very stringent savings plan that favours future demands over current aspirations is also likely to fail. Instead, a better approach is where due consideration is given to current and future needs. This will help divide the available income between current consumption and future saving. If an expense or a need is toolarge to be met out of the regular income, earmark it for the future. So the…………….. way to buy a coveted watch is not to swipe the credit card and commit yourself to debt, but to set aside money from your current income and buy the watch when you have the required funds.
Q8. Which of the following can be best inferred from theparagraph?
(a) The better way to save is to give due consideration to current and future needs and plan accordingly.
(b) It’s better to buy the things that you require at present than to save money and buy them later.
(c) Buying a watch is more important than saving for the future.
(d) A stringent savings plan will produce a good result for the future.
(e) None of the Above
Q9. Which of the following word should fill in the blank in the paragraph?
(a) stringent
(b) bad
(c) unethical
(d) moneywise
(e) Both (a) and (d)
Q10. Which of the following can be next line after the last line of the given paragraph?
(a) Most of us never have enough money for immediate expenses as well as saving.
(b) There will be a lot of unwanted expenses that can creep in every now and then.
(c) If we had enough money to meet our current expenses and future goals, there would be no problem.
(d) Expenses or needs that have to be met at a point of time in the future are called goals.
(e) Just as we segregate the essential and less important things in our shopping list,do the same with your goals.
Solutions
1- B
2-B
3-C
4-D
5-C
6-B
7-C
8-A
9-D
10-D
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