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Executive Assessment Mock Test - 7 - GMAT MCQ


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30 Questions MCQ Test - Executive Assessment Mock Test - 7

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Executive Assessment Mock Test - 7 - Question 1
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This table provides the standard interest rates offered by Central Bank for CDs, listed according to term offering and purchase amount. The interest rates listed are annual rates, compounded yearly, to be paid when the CD comes to term. No bonuses or other adjustments are included.

General memo to employees of Central Bank: January 15th In order to improve and stabilize our bank’s investment opportunities, we are seeking to shift the balance of our customers’ CD accounts towards those with longer maturity terms. We have begun testing two incentive programs. All CDs purchased with terms of at least 5 years now receive, as a bonus, an additional 0.1% interest during the first year to be added to the standard rate. Preferred customers (those who have previously bought CDs of any term length in amounts of $10,000 or more) will, when they purchase a 5-year or 10-year CD of $10,000 or more, instead receive a bonus of 0.2% during the first year. Other CDs continue at the standard rates.

We have also instituted a new system of early withdrawal penalties, applicable to all new CDs. The penalties are as follows: For any CD, early withdrawal less than a year after the CD is purchased results in a loss of all interest. For 2-year CDs, early withdrawal after the first year results in the loss of one year of interest. For 5-year and 10-year CDs, withdrawal after the first year results in the loss of two years of interest and of any accrued bonus interest.

Q. Consider each of the following statements. Does the information in the memo and the table support the inference as stated?

Prior to the policy changes described, there were no penalties for early CD withdrawals.

Detailed Solution for Executive Assessment Mock Test - 7 - Question 1

The memo refers to new penalties going into effect. This does not imply, however, that there were no other penalties in place previously. 

Executive Assessment Mock Test - 7 - Question 2
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This table provides the standard interest rates offered by Central Bank for CDs, listed according to term offering and purchase amount. The interest rates listed are annual rates, compounded yearly, to be paid when the CD comes to term. No bonuses or other adjustments are included.

General memo to employees of Central Bank: January 15th In order to improve and stabilize our bank’s investment opportunities, we are seeking to shift the balance of our customers’ CD accounts towards those with longer maturity terms. We have begun testing two incentive programs. All CDs purchased with terms of at least 5 years now receive, as a bonus, an additional 0.1% interest during the first year to be added to the standard rate. Preferred customers (those who have previously bought CDs of any term length in amounts of $10,000 or more) will, when they purchase a 5-year or 10-year CD of $10,000 or more, instead receive a bonus of 0.2% during the first year. Other CDs continue at the standard rates.

We have also instituted a new system of early withdrawal penalties, applicable to all new CDs. The penalties are as follows: For any CD, early withdrawal less than a year after the CD is purchased results in a loss of all interest. For 2-year CDs, early withdrawal after the first year results in the loss of one year of interest. For 5-year and 10-year CDs, withdrawal after the first year results in the loss of two years of interest and of any accrued bonus interest.

Q. Consider each of the following statements. Does the information in the memo and the table support the inference as stated?

Certain bank policies are designed to reward preferred customers for their loyalty.

Detailed Solution for Executive Assessment Mock Test - 7 - Question 2

It is true that the stated policy offers a bonus available to preferred customers but not to new customers. There is no reference however to this being a reward for loyalty. Rather, the stated purpose is to increase the overall stability of the bank’s portfolio. This statement introduces outside information.

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Executive Assessment Mock Test - 7 - Question 3
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This table provides the standard interest rates offered by Central Bank for CDs, listed according to term offering and purchase amount. The interest rates listed are annual rates, compounded yearly, to be paid when the CD comes to term. No bonuses or other adjustments are included.

General memo to employees of Central Bank: January 15th In order to improve and stabilize our bank’s investment opportunities, we are seeking to shift the balance of our customers’ CD accounts towards those with longer maturity terms. We have begun testing two incentive programs. All CDs purchased with terms of at least 5 years now receive, as a bonus, an additional 0.1% interest during the first year to be added to the standard rate. Preferred customers (those who have previously bought CDs of any term length in amounts of $10,000 or more) will, when they purchase a 5-year or 10-year CD of $10,000 or more, instead receive a bonus of 0.2% during the first year. Other CDs continue at the standard rates.

We have also instituted a new system of early withdrawal penalties, applicable to all new CDs. The penalties are as follows: For any CD, early withdrawal less than a year after the CD is purchased results in a loss of all interest. For 2-year CDs, early withdrawal after the first year results in the loss of one year of interest. For 5-year and 10-year CDs, withdrawal after the first year results in the loss of two years of interest and of any accrued bonus interest.

Q. Consider each of the following statements. Does the information in the memo and the table support the inference as stated?

If the bank accomplishes its stated intentions, it will likely pay a higher aver age interest rate to customers than if it does not.

Detailed Solution for Executive Assessment Mock Test - 7 - Question 3

The stated intention is to shift the CD investments towards those with longer maturation periods. For each type of CD, this means paying higher interest rates to customers. So if the bank succeeds in making this shift, it will pay higher overall average interest rates than it will if a greater proportion of investments remain in shorter term CD’s. This statement is well-supported by the evidence. 

Executive Assessment Mock Test - 7 - Question 4
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This table provides the standard interest rates offered by Central Bank for CDs, listed according to term offering and purchase amount. The interest rates listed are annual rates, compounded yearly, to be paid when the CD comes to term. No bonuses or other adjustments are included.

General memo to employees of Central Bank: January 15th In order to improve and stabilize our bank’s investment opportunities, we are seeking to shift the balance of our customers’ CD accounts towards those with longer maturity terms. We have begun testing two incentive programs. All CDs purchased with terms of at least 5 years now receive, as a bonus, an additional 0.1% interest during the first year to be added to the standard rate. Preferred customers (those who have previously bought CDs of any term length in amounts of $10,000 or more) will, when they purchase a 5-year or 10-year CD of $10,000 or more, instead receive a bonus of 0.2% during the first year. Other CDs continue at the standard rates.

We have also instituted a new system of early withdrawal penalties, applicable to all new CDs. The penalties are as follows: For any CD, early withdrawal less than a year after the CD is purchased results in a loss of all interest. For 2-year CDs, early withdrawal after the first year results in the loss of one year of interest. For 5-year and 10-year CDs, withdrawal after the first year results in the loss of two years of interest and of any accrued bonus interest.

Q. Consider each of the following statements. Does the information in the memo and the table support the inference as stated?

Part of the purpose of the policy changes is to increase the proportion of CD investments that result in early withdrawal.
Detailed Solution for Executive Assessment Mock Test - 7 - Question 4

Although it is true that early withdrawal of a CD allows the bank to charge penalties, the stated reason for the penalties is to discourage such withdrawals. The purpose of the policy changes is to increase stability of the CD investments, the opposite of encouraging early withdrawals. Thisstatement is contradicted by the passage.

Executive Assessment Mock Test - 7 - Question 5
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The table above gives information about the voting patterns in United States presidential elections from 1960 to 2008. In addition to giving the name and the political party of the President elected in each year, the table provides the total popular vote and electoral vote that the winner received in that election, as well as the percentage of the total vote that each figure represents.

Each column of the table can be sorted in ascending order by clicking on the word “Select” above the table and choosing, from the dropdown menu, the heading of the column on which you want the table to be sorted.

Alternate Sort 1: Electoral Vote

Alternate Sort 2: Percent of Popular Vote

Q. Consider each of the following statements. Does the information contained in the two emails and the memorandum support the inference as stated?

The same President was elected in the two election years in which the winner’s percentage of the popular vote and percent age of the electoral vote were most nearly equal.
Detailed Solution for Executive Assessment Mock Test - 7 - Question 5

Sort the chart by % of Popular Vote to make it easy to scan down the list. Now compare the % of Popular Vote and the % of Electoral Vote columns for each line in the table. Look for those lines in which the two values are closest together. There are three elections, 2000, 1976, and 2004, in which the two values are within about 5 points of each other. In 1976, the difference was slightly greater than 5, but in 2000 and 2004 it was closer to 3 points difference, (48.87% vs. 50.4% in 2000 and 50.73% to 53.2% in 2004). So 2000 and 2004 are the two years in which the percentages differ the least. Since George W. Bush was elected both years, it is true that the same President was elected in the two years in which the percentages were the closest.

Executive Assessment Mock Test - 7 - Question 6
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MEMORANDUM
To: Regional Office Managers
From: Chief Operations Officer
RE: Travel planning

Once again, our annual management retreat will be held in Bloomsbury. In preparation for this year’s retreat, all Regional Office Managers (ROMs) will be responsible for arranging the travel reservations for all Level 2 managers within his or her Region. You may delegate that task should you wish.

ROMs will receive a research memorandum from the Logistics Division providing the average airfare from the 6 Regions to Bloomsbury. While ROMs should use that average airfare as a guide, we anticipate that there may be some variation in ticket prices based upon the specifics of travel arrangements. As such, Regional offices will be reimbursed for the full cost of any plane ticket priced within 1 (one) standard deviation of the average airfare from its region to Bloomsbury, inclusive. For any ticket priced more than 1 (one) standard deviation above the mean, regional offices will be reimbursed up to the average airfare from your region to Bloomsbury. For any ticket priced more than 1 (one) standard deviation below the average, in addition to full reimbursement of the ticket cost, regional offices will receive a “Budget Bonus” of 50% of the difference between the ticket price and the average airfare from your region to Bloomsbury.

MEMORANDUM
To: Regional Office Managers
From: Logistics Division
RE: Airfare Research

The attached chart lists the average (arithmetic mean) airfare from the listed Regions to Bloomsbury. The mean airfare was calculated based upon taking a normally distributed sample of airfares. The standard deviation and size of each sample is also listed in the chart.

Email from Marco Roland, Human Resources Manager, West Region to Marisa Cortland, Regional Office Manager, West Region
Dear Marisa,
Tickets have been purchased for all of the Level 2 Managers in the West Region. Below is a summary

Best,
Marco

Q. Consider each of the following statements. Does the information contained in the two memoranda and the email support the stated inference?

The management retreat is held at Bloomsbury most years.
Detailed Solution for Executive Assessment Mock Test - 7 - Question 6

Memo #1 states that the management retreat once again will be held in Bloomsbury. However this only means that it has been held there at least once before. Therefore we cannot infer it to be true that the retreat is there more often than anywhere else.

Executive Assessment Mock Test - 7 - Question 7
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MEMORANDUM
To: Regional Office Managers
From: Chief Operations Officer
RE: Travel planning

Once again, our annual management retreat will be held in Bloomsbury. In preparation for this year’s retreat, all Regional Office Managers (ROMs) will be responsible for arranging the travel reservations for all Level 2 managers within his or her Region. You may delegate that task should you wish.

ROMs will receive a research memorandum from the Logistics Division providing the average airfare from the 6 Regions to Bloomsbury. While ROMs should use that average airfare as a guide, we anticipate that there may be some variation in ticket prices based upon the specifics of travel arrangements. As such, Regional offices will be reimbursed for the full cost of any plane ticket priced within 1 (one) standard deviation of the average airfare from its region to Bloomsbury, inclusive. For any ticket priced more than 1 (one) standard deviation above the mean, regional offices will be reimbursed up to the average airfare from your region to Bloomsbury. For any ticket priced more than 1 (one) standard deviation below the average, in addition to full reimbursement of the ticket cost, regional offices will receive a “Budget Bonus” of 50% of the difference between the ticket price and the average airfare from your region to Bloomsbury.

MEMORANDUM
To: Regional Office Managers
From: Logistics Division
RE: Airfare Research

The attached chart lists the average (arithmetic mean) airfare from the listed Regions to Bloomsbury. The mean airfare was calculated based upon taking a normally distributed sample of airfares. The standard deviation and size of each sample is also listed in the chart.

Email from Marco Roland, Human Resources Manager, West Region to Marisa Cortland, Regional Office Manager, West Region
Dear Marisa,
Tickets have been purchased for all of the Level 2 Managers in the West Region. Below is a summary

Best,
Marco

Q. Consider each of the following statements. Does the information contained in the two memoranda and the email support the stated inference?

No region had a lower average (arithmetic mean) airfare to Bloomsbury than the Midwest.
Detailed Solution for Executive Assessment Mock Test - 7 - Question 7

Memo #2 lists the regions and their respective average airfares. At $200 the Midwest and the West are tied for the lowest. This means that no region is lower than the Midwest.

Executive Assessment Mock Test - 7 - Question 8
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MEMORANDUM
To: Regional Office Managers
From: Chief Operations Officer
RE: Travel planning

Once again, our annual management retreat will be held in Bloomsbury. In preparation for this year’s retreat, all Regional Office Managers (ROMs) will be responsible for arranging the travel reservations for all Level 2 managers within his or her Region. You may delegate that task should you wish.

ROMs will receive a research memorandum from the Logistics Division providing the average airfare from the 6 Regions to Bloomsbury. While ROMs should use that average airfare as a guide, we anticipate that there may be some variation in ticket prices based upon the specifics of travel arrangements. As such, Regional offices will be reimbursed for the full cost of any plane ticket priced within 1 (one) standard deviation of the average airfare from its region to Bloomsbury, inclusive. For any ticket priced more than 1 (one) standard deviation above the mean, regional offices will be reimbursed up to the average airfare from your region to Bloomsbury. For any ticket priced more than 1 (one) standard deviation below the average, in addition to full reimbursement of the ticket cost, regional offices will receive a “Budget Bonus” of 50% of the difference between the ticket price and the average airfare from your region to Bloomsbury.

MEMORANDUM
To: Regional Office Managers
From: Logistics Division
RE: Airfare Research

The attached chart lists the average (arithmetic mean) airfare from the listed Regions to Bloomsbury. The mean airfare was calculated based upon taking a normally distributed sample of airfares. The standard deviation and size of each sample is also listed in the chart.

Email from Marco Roland, Human Resources Manager, West Region to Marisa Cortland, Regional Office Manager, West Region
Dear Marisa,
Tickets have been purchased for all of the Level 2 Managers in the West Region. Below is a summary

Best,
Marco

Q. Consider each of the following statements. Does the information contained in the two memoranda and the email support the stated inference?

Only Level 2 managers will attend the management retreat.
Detailed Solution for Executive Assessment Mock Test - 7 - Question 8

Memo #1 states that Regional Office Managers will be responsible for the travel reservations for Level 2 managers, but we don’t know that they will be the only persons in attendance. Therefore we cannot infer this to be true.

Executive Assessment Mock Test - 7 - Question 9
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MEMORANDUM
To: Regional Office Managers
From: Chief Operations Officer
RE: Travel planning

Once again, our annual management retreat will be held in Bloomsbury. In preparation for this year’s retreat, all Regional Office Managers (ROMs) will be responsible for arranging the travel reservations for all Level 2 managers within his or her Region. You may delegate that task should you wish.

ROMs will receive a research memorandum from the Logistics Division providing the average airfare from the 6 Regions to Bloomsbury. While ROMs should use that average airfare as a guide, we anticipate that there may be some variation in ticket prices based upon the specifics of travel arrangements. As such, Regional offices will be reimbursed for the full cost of any plane ticket priced within 1 (one) standard deviation of the average airfare from its region to Bloomsbury, inclusive. For any ticket priced more than 1 (one) standard deviation above the mean, regional offices will be reimbursed up to the average airfare from your region to Bloomsbury. For any ticket priced more than 1 (one) standard deviation below the average, in addition to full reimbursement of the ticket cost, regional offices will receive a “Budget Bonus” of 50% of the difference between the ticket price and the average airfare from your region to Bloomsbury.

MEMORANDUM
To: Regional Office Managers
From: Logistics Division
RE: Airfare Research

The attached chart lists the average (arithmetic mean) airfare from the listed Regions to Bloomsbury. The mean airfare was calculated based upon taking a normally distributed sample of airfares. The standard deviation and size of each sample is also listed in the chart.

Email from Marco Roland, Human Resources Manager, West Region to Marisa Cortland, Regional Office Manager, West Region
Dear Marisa,
Tickets have been purchased for all of the Level 2 Managers in the West Region. Below is a summary

Best,
Marco

Q. Consider each of the following statements. Does the information contained in the two memoranda and the email support the stated inference?

The Regional Office Manager need not make the reservations personally.
Detailed Solution for Executive Assessment Mock Test - 7 - Question 9

Memo #1 states that Regional Office Managers may delegate that task, meaning that they do not have to do it themselves.

Executive Assessment Mock Test - 7 - Question 10
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Directions: Read the passage carefully and answer the question as follow.

Federal efforts to aid minority businesses began in the 
1960’s when the Small Business Administration (SBA)
began making federally guaranteed loans and govern-
ment-sponsored management and technical assistance
(5) available to minority business enterprises. While this 
program enabled many minority entrepreneurs to 
form new businesses, the results were disappointing,
since managerial inexperience, unfavorable locations,
and capital shortages led to high failure rates. Even 15
(10) years after the program was implemented, minority       
business receipts were not quite two percent of the national 
economy’s total receipts.
Recently federal policymakers have adopted an 
approach intended to accelerate development of the 
(15) minority business sector by moving away from directly 
aiding small minority enterprises and toward supporting 
larger, growth-oriented minority firms through interme-
diary companies. In this approach, large corporations
participate in the development of successful and stable 
(20) minority businesses by making use of government-
sponsored venture capital. The capital is used by a 
participating company to establish a Minority Enterprise 
Small Business Investment Company or MESBIC. The 
MESBIC then provides capital and guidance to minority 
(25) businesses that have potential to become future suppliers 
or customers of the sponsoring company.
MESBIC’s are the result of the belief that providing
established firms with easier access to relevant manage-
ment techniques and more job-specific experience, as 
(30) well as substantial amounts of capital, gives those firms 
a greater opportunity to develop sound business founda-
tions than does simply making general management 
experience and small amounts of capital available.
Further, since potential markets for the minority busi-
(35) nesses already exist through the sponsoring companies,   
the minority businesses face considerably less risk in 
terms of location and market fluctuation. Following 
early financial and operating problems, sponsoring 
corporations began to capitalize MESBIC’s far above 
(40) the legal minimum of $500,000 in order to generate 
sufficient income and to sustain the quality of manage-
ment needed. MESBIC’c are now emerging as increas-
ingly important financing sources for minority enter-
prises.
(45) Ironically, MESBIC staffs, which usually consist of 
Hispanic and Black professionals, tend to approach 
investments in minority firms more pragmatically than
do many MESBIC directors, who are usually senior
managers from sponsoring corporations. The latter
(50) often still think mainly in terms of the “social responsi-
bility approach” and thus seem to prefer deals that are 
riskier and less attractive than normal investment criteria 
would warrant. Such differences in viewpoint have pro-
duced uneasiness among many minority staff members,
(55) who feel that minority entrepreneurs and businesses 
should be judged by established business considerations.
These staff members believe their point of view is closer 
to the original philosophy of MESBIC’s and they are 
concerned that, unless a more prudent course is fol-
lowed, MESBIC directors may revert to policies likely 
to re-create the disappointing results of the original SBA 
approach.
Q. The author’s primary objective in the passage is to
Detailed Solution for Executive Assessment Mock Test - 7 - Question 10

B is the best answer. The passage describes efforts undertaken in the 1960’s to and minority businesses and then describes MESBIC’s , a newer approach to such efforts.

Executive Assessment Mock Test - 7 - Question 11
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Directions: Read the passage carefully and answer the question as follow.

Federal efforts to aid minority businesses began in the 
1960’s when the Small Business Administration (SBA)
began making federally guaranteed loans and govern-
ment-sponsored management and technical assistance
(5) available to minority business enterprises. While this 
program enabled many minority entrepreneurs to 
form new businesses, the results were disappointing,
since managerial inexperience, unfavorable locations,
and capital shortages led to high failure rates. Even 15
(10) years after the program was implemented, minority       
business receipts were not quite two percent of the national 
economy’s total receipts.
Recently federal policymakers have adopted an 
approach intended to accelerate development of the 
(15) minority business sector by moving away from directly 
aiding small minority enterprises and toward supporting 
larger, growth-oriented minority firms through interme-
diary companies. In this approach, large corporations
participate in the development of successful and stable 
(20) minority businesses by making use of government-
sponsored venture capital. The capital is used by a 
participating company to establish a Minority Enterprise 
Small Business Investment Company or MESBIC. The 
MESBIC then provides capital and guidance to minority 
(25) businesses that have potential to become future suppliers 
or customers of the sponsoring company.
MESBIC’s are the result of the belief that providing
established firms with easier access to relevant manage-
ment techniques and more job-specific experience, as 
(30) well as substantial amounts of capital, gives those firms 
a greater opportunity to develop sound business founda-
tions than does simply making general management 
experience and small amounts of capital available.
Further, since potential markets for the minority busi-
(35) nesses already exist through the sponsoring companies,   
the minority businesses face considerably less risk in 
terms of location and market fluctuation. Following 
early financial and operating problems, sponsoring 
corporations began to capitalize MESBIC’s far above 
(40) the legal minimum of $500,000 in order to generate 
sufficient income and to sustain the quality of manage-
ment needed. MESBIC’c are now emerging as increas-
ingly important financing sources for minority enter-
prises.
(45) Ironically, MESBIC staffs, which usually consist of 
Hispanic and Black professionals, tend to approach 
investments in minority firms more pragmatically than
do many MESBIC directors, who are usually senior
managers from sponsoring corporations. The latter
(50) often still think mainly in terms of the “social responsi-
bility approach” and thus seem to prefer deals that are 
riskier and less attractive than normal investment criteria 
would warrant. Such differences in viewpoint have pro-
duced uneasiness among many minority staff members,
(55) who feel that minority entrepreneurs and businesses 
should be judged by established business considerations.
These staff members believe their point of view is closer 
to the original philosophy of MESBIC’s and they are 
concerned that, unless a more prudent course is fol-
lowed, MESBIC directors may revert to policies likely 
to re-create the disappointing results of the original SBA 
approach.
Q. Which of the following statements about the SBA program can be inferred from the passage?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 11

C is the best answer. This question asks you to draw an inference about the SBA program. Although the passage does not actually state that the failure rate for SBA recipient businesses was higher than anticipated, in the first paragraph the author does sate that the results of the SBA program were disappointing, in part because of the high failure rate among SBA-sponsored businesses. From this it can be inferred that the anticipated failure rate was lower than the actual rate.

Executive Assessment Mock Test - 7 - Question 12
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Directions: Read the passage carefully and answer the question as follow.

Federal efforts to aid minority businesses began in the 
1960’s when the Small Business Administration (SBA)
began making federally guaranteed loans and govern-
ment-sponsored management and technical assistance
(5) available to minority business enterprises. While this 
program enabled many minority entrepreneurs to 
form new businesses, the results were disappointing,
since managerial inexperience, unfavorable locations,
and capital shortages led to high failure rates. Even 15
(10) years after the program was implemented, minority       
business receipts were not quite two percent of the national 
economy’s total receipts.
Recently federal policymakers have adopted an 
approach intended to accelerate development of the 
(15) minority business sector by moving away from directly 
aiding small minority enterprises and toward supporting 
larger, growth-oriented minority firms through interme-
diary companies. In this approach, large corporations
participate in the development of successful and stable 
(20) minority businesses by making use of government-
sponsored venture capital. The capital is used by a 
participating company to establish a Minority Enterprise 
Small Business Investment Company or MESBIC. The 
MESBIC then provides capital and guidance to minority 
(25) businesses that have potential to become future suppliers 
or customers of the sponsoring company.
MESBIC’s are the result of the belief that providing
established firms with easier access to relevant manage-
ment techniques and more job-specific experience, as 
(30) well as substantial amounts of capital, gives those firms 
a greater opportunity to develop sound business founda-
tions than does simply making general management 
experience and small amounts of capital available.
Further, since potential markets for the minority busi-
(35) nesses already exist through the sponsoring companies,   
the minority businesses face considerably less risk in 
terms of location and market fluctuation. Following 
early financial and operating problems, sponsoring 
corporations began to capitalize MESBIC’s far above 
(40) the legal minimum of $500,000 in order to generate 
sufficient income and to sustain the quality of manage-
ment needed. MESBIC’c are now emerging as increas-
ingly important financing sources for minority enter-
prises.
(45) Ironically, MESBIC staffs, which usually consist of 
Hispanic and Black professionals, tend to approach 
investments in minority firms more pragmatically than
do many MESBIC directors, who are usually senior
managers from sponsoring corporations. The latter
(50) often still think mainly in terms of the “social responsi-
bility approach” and thus seem to prefer deals that are 
riskier and less attractive than normal investment criteria 
would warrant. Such differences in viewpoint have pro-
duced uneasiness among many minority staff members,
(55) who feel that minority entrepreneurs and businesses 
should be judged by established business considerations.
These staff members believe their point of view is closer 
to the original philosophy of MESBIC’s and they are 
concerned that, unless a more prudent course is fol-
lowed, MESBIC directors may revert to policies likely 
to re-create the disappointing results of the original SBA 
approach.
Q. Which of the following best states the central idea of the passage?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 12

A is the best answer. The passage begins by indicating that the results of the SBA approach to aiding minority entrepreneurs “were disappointing” (line 11). Lines 62-64 state that “MESBIC’s are now emerging as increasingly important financing sources for minority enterprises.” Much of the passage is devoted to supporting the author’s view that MESBIC’x have the greater potential for success, and the last sentence in the passage confirms this view.

Executive Assessment Mock Test - 7 - Question 13
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Directions: Read the passage carefully and answer the question as follow.

Federal efforts to aid minority businesses began in the 
1960’s when the Small Business Administration (SBA)
began making federally guaranteed loans and govern-
ment-sponsored management and technical assistance
(5) available to minority business enterprises. While this 
program enabled many minority entrepreneurs to 
form new businesses, the results were disappointing,
since managerial inexperience, unfavorable locations,
and capital shortages led to high failure rates. Even 15
(10) years after the program was implemented, minority       
business receipts were not quite two percent of the national 
economy’s total receipts.
Recently federal policymakers have adopted an 
approach intended to accelerate development of the 
(15) minority business sector by moving away from directly 
aiding small minority enterprises and toward supporting 
larger, growth-oriented minority firms through interme-
diary companies. In this approach, large corporations
participate in the development of successful and stable 
(20) minority businesses by making use of government-
sponsored venture capital. The capital is used by a 
participating company to establish a Minority Enterprise 
Small Business Investment Company or MESBIC. The 
MESBIC then provides capital and guidance to minority 
(25) businesses that have potential to become future suppliers 
or customers of the sponsoring company.
MESBIC’s are the result of the belief that providing
established firms with easier access to relevant manage-
ment techniques and more job-specific experience, as 
(30) well as substantial amounts of capital, gives those firms 
a greater opportunity to develop sound business founda-
tions than does simply making general management 
experience and small amounts of capital available.
Further, since potential markets for the minority busi-
(35) nesses already exist through the sponsoring companies,   
the minority businesses face considerably less risk in 
terms of location and market fluctuation. Following 
early financial and operating problems, sponsoring 
corporations began to capitalize MESBIC’s far above 
(40) the legal minimum of $500,000 in order to generate 
sufficient income and to sustain the quality of manage-
ment needed. MESBIC’c are now emerging as increas-
ingly important financing sources for minority enter-
prises.
(45) Ironically, MESBIC staffs, which usually consist of 
Hispanic and Black professionals, tend to approach 
investments in minority firms more pragmatically than
do many MESBIC directors, who are usually senior
managers from sponsoring corporations. The latter
(50) often still think mainly in terms of the “social responsi-
bility approach” and thus seem to prefer deals that are 
riskier and less attractive than normal investment criteria 
would warrant. Such differences in viewpoint have pro-
duced uneasiness among many minority staff members,
(55) who feel that minority entrepreneurs and businesses 
should be judged by established business considerations.
These staff members believe their point of view is closer 
to the original philosophy of MESBIC’s and they are 
concerned that, unless a more prudent course is fol-
lowed, MESBIC directors may revert to policies likely 
to re-create the disappointing results of the original SBA 
approach.
Q. The author refers to the “financial and operating problems”(line 38 ) encountered by MESBIC’s primarily in order to
Detailed Solution for Executive Assessment Mock Test - 7 - Question 13

B is the best answer.
The reference in lines 56-57 to “financial and operating problems” appears in the context of a discussion of why corporations came to capitalize MESBIC”s “far above the legal minimum of $ 500,000.” The problems are cited to illustrate the reasons that MESBIC’s need more than the minimum funding required by law, and thus call attention to this need.

Executive Assessment Mock Test - 7 - Question 14
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Authors writing detective stories frequently include a brilliant detective and an incompetent investigator who embark on separate paths in an attempt to solve a crime. The separate accounts frequently consist of the incompetent investigator becoming distracted by the criminals' well-planned attempts and the competent detective solving the case after a violent confrontation. Many literary analysts believe authors often choose this storyline in an attempt to provide readers additional complexity and challenge in solving the investigation.

Q. Which of the following most logically follows from the statements above?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 14

This question asks you to take the statements and draw a conclusion. One major trap in this type of question is an answer that is logical, but not supported by the statements in the stimulus.

A. The stimulus does not define what constitutes a well written story nor does it speak about what is a poorly written story. Consequently, it is difficult to make a statement like this that will logically follow from the stimulus.
B. Although this statement is probably true, it does not follow from the stimulus. Instead, the stimulus states that authors use an incompetent investigator to add complexity to the storyline (thereby making the reader's attempts to solve the case more challenging) not to show that investigations are complex.
C. While the stimulus states that stories "frequently" include an incompetent investigator who does not solve the case correctly, we cannot conclude an incompetent investigator "never" solves a case correctly.
D. This statement is quite similar to the final sentence of the stimulus and it logically follows from the stimulus. The statement that authors write in the way they do "to provide readers additional complexity and challenge in solving the investigation" provides the basis to conclude that authors write "to make predicting the correct outcome of the investigation more difficult."
E. Although this statement is probably true, there is no evidence of it in the stimulus. Instead, the stimulus indicates that the complexity is added not for its resemblance to real life but for its ability to increase the challenge posed to readers seeking to solve the case correctly.

Executive Assessment Mock Test - 7 - Question 15
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Eating beets significantly lowers the risk of cancer, according to an article in a nutritional magazine. The article refers to a study that found that people who consumed one or more beets per day were half as likely to be diagnosed with the disease as people who did not.

Q. Which of the following, if true, most weakens the argument in the magazine article?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 15

The article draws a conclusion on the basis of the findings of a single study. However, the link between eating beets and cancer prevention cannot be verified without ruling out other variables. If the participants who ate beets were also similar in another way that distinguished them from the group that did not, it would become impossible to prove that beets - and not the other factor - were responsible for reducing the risk of cancer on the basis of this study alone.

A. The effectiveness of flax seed oil in reducing the risk of cancer has no bearing on the effectiveness of beets in doing so. This answer is off topic.
B. This answer strengthens, rather than weakens, the argument. If the subjects ate only beets and no other vegetables, there is more evidence for the fact that beets – and no other vegetable – were responsible for reducing the risk of cancer.
C. The study would be more convincing if it had been conducted in more than one city. However, this fact alone does not do the most to weaken the argument.
D. This other experiment is about the role of beets in the recovery rates of cancer patients, rather than in the risk of diagnosis. Therefore, it does not weaken the conclusion of the article, which focuses on cancer prevention, not recovery.
E. Because study participants who ate beets were also more likely to exercise regularly than those who did not eat beets, it is impossible to determine whether beets or regular exercise were more influential in preventing cancer. This is the correct answer.

Executive Assessment Mock Test - 7 - Question 16
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Years ago, some in the government's intelligence community feared the work of telecommunications researchers at then-emerging private security firms. The government experts concluded that these private firms posed the biggest risk to successful government espionage. As the private security firms began publicly releasing and advertising encryption algorithms and other security products, these government experts saw support for their conclusion when an encryption algorithm that government experts could not break began appearing in countless emails.

Q. Which of the following, if true, most weakens the conclusion of the government experts referred to above?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 16

The government experts concluded that "private firms posed the biggest risk to successful government espionage" and they supported this conclusion by assuming that the unbreakable encryption algorithm in emails came from the private security firms, which had just begun selling encryption algorithms. In order to weaken the conclusion of the government experts, you need to find evidence supporting the belief that the unbreakable algorithm did not come from the private security firms but from another source (such as free open-source developers).

A. This answer strengthens the conclusion of the government experts by bolstering the claim that the products developed by the private security firms were very difficult to break—and this was the fear of some government experts.
B. This answer does not state that the "other members of the private sector and academia" broke the encryption algorithm and we cannot assume this. If this were true, the algorithm would not be as strong as the government experts suspected and it would almost certainly not be "encryption algorithm that government experts could not break."
C. This answer undermines the government experts' conclusion that the private security firms posed "the biggest risk" as ex-government code breakers admitted that a public-sector open-source freely-available product posed the most difficulty in breaking.
D. This answer is not relevant since a foreign government's ability to infiltrate an espionage operation is not related to the conclusion that the difficulty experienced in breaking email encryption occurred because of products released by private telecommunications companies. Further, this answer provides no basis to conclude or even assume that the private security firms were not the source of the unbreakable algorithm.
E. The publication of information about the strength and benefit of the privately-developed encryption algorithms would not disprove that private security firms were behind the difficult to break email encryption algorithm experienced by the government.

Executive Assessment Mock Test - 7 - Question 17
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In the twentieth century, the visual arts have embarked on major experimentation, from cubism to expressionism.  While tastes always vary, there are certainly some people who find beautiful objects of each of the art movements of the first half of the twentieth century.  In the latter half of the twentieth century, though, most works are so abstract or shocking that neither the critic nor the general public uses the word "beautiful" to describe them: indeed, sometimes late twentieth-century artists have, as one of their expressed goals, the creation of a work that no one could find beautiful.  Whatever these artists are creating may be intellectually engaging at some level, but it is no longer art.

Q. Which of the following is an assumption that supports drawing the conclusion above from the reasons given for that conclusion?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 17

The argument makes a number of factual statements.  Art in the first half of the 20th century are, or could be considered, beautiful.  Works by artists in the latter half of the 20th century are not supposed to be beautiful, and even, are supposed to be devoid of beauty. Then the argument draws a bold powerful conclusion: therefore, they are not art!  The assumption seems to be something that links beauty to whether something qualifies as art.  We definitely need an answer to speak to the question: what does, or doesn't, qualify as art? 

(C) is credited answer.  If something needs to be beautiful, or potentially beautiful, to qualify as art, then this would explain that works that "no one could find beautiful" would fall outside the author's definition of art. 

The other answers are all quite tempting, because we could imagine an art professor or someone in an art class arguing for any one of them. 

(A) is irrelevant. Critics & the general public might have different appraisals, but what one or the other thinks does not, in and of itself, seem to determine whether something is art. 

(B) is also irrelevant: who determines the meaning is a separate question from whether the work qualifies at art in the first place.  (BTW, exceedingly few modern critics would accept the interpretive idea contained in choice .) 

(D) is undeniably true, but not relevant: again: it provides no standard by which we could say the former objects are art and the latter objects aren’t. 

(E) is a far-flung idea, unrelated to the discussion. The passage doesn't address the issue of whether any works of art are intellectually engaging.

Executive Assessment Mock Test - 7 - Question 18
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In a few recent cases, some teenagers with advanced programming abilities used a new programming language, FANTOD, to hack into ETS and change their own SAT scores. All of the teenagers convicted of this crime were highly skilled in programming FANTOD. In light of these cases, some colleges have discounted the official SAT scores of applicants with a knowledge of FANTOD, and have required them to take special admission tests in supervised conditions on their own campuses.

Q. Which of following conclusions can most properly be drawn from the information above?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 18

The evidence says: all the ETS hackers were FANTOD programmers. What the colleges seem to be assuming is the converse: all FANTOD programmers are hackers.  Of course, there is no direct evidence for this converse. Presumably there are some students who learn FANTOD in good faith and who are not hackers, but because of the assumption the colleges are making, these students are faced with extra challenges, such as having their justly achieved SAT scores disregarded and being forced to take additional admission tests. 

(C) is the credited answer. Since there is no evidence for the converse statement, we have reason to believe there are FANTOD programmers who are entirely innocent of any hacking, yet those very students will have their perfectly valid SAT scores dismissed and will have to take a new test to achieve admission: this certainly would not be fun, would not be fair, and could place them at a disadvantage with respect to all the non-programming students who could just take the ordinary SATs and be done with all testing. 

(A) assumes too much based on the information provided in the prompt. Specifically, we only know about a specific group of those with FANTOD knowledge: those who used it to hack into ETS. Therefore, we cannot make any airtight conclusions about "most people". It is very possible that most people who know FANTOD use it for purposes other than hacking.  

(B) might be true, but it's much too broad. This is about the much larger issue of what is the best way for colleges to determine who should be admitted.  This entire argument is focused quite specifically on the FANTOD programmers and the issues associated with them. 

We have absolutely no evidence for (D). All we know is that, whatever scores those hackers achieved on the real SAT, they falsified the records to make them higher. We don't know if those scores were already high, and we certainly can draw no conclusion about all the students who know how to program in FANTOD who are not hackers. In fact, one might suspect the opposite, that folks bright enough to figure out this sophisticated programming language might be more intelligent and more successful on average, but even that we strictly can't assume. Therefore, we can't draw a clear conclusion about this. 

(E) is a tricky one. We are told that some colleges took a certain set of special measures. We are given no information on what the other colleges did. Did they take another set of special measures? Did they not address the issue at all?  We don't know. Therefore, we can't draw a clear conclusion along these lines.

Executive Assessment Mock Test - 7 - Question 19
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A minor league baseball franchise experienced a drop in attendance this week after they suffered three losses by margins of ten runs or more last week.  Many spectators of those games wrote letters to the editors of the local sporting news, complaining of the poor play of the team in those three losses. Nevertheless, the front office of this baseball franchise maintains that the team's poor play in those three losses has nothing to do with this week's decline in attendance.

Q. Which of the following, if true, most strongly supports the position held by the front office of the baseball franchise?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 19

The statement by the front office of the baseball franchise seems, on the surface, not to take the basic facts into account.  If we want to strengthen this position, there must be some alternate explanation for the drop in attendance. 

Part of strengthening the franchise's position would be weakening the original position: namely, that the team's poor play explains the drop in attendance. 

(C) is the credited answer. If other minor league teams also experience a drop this week, there must be something global in this market affecting all teams. We don't know what this factor is, but it's something that touches all teams, not just those that played badly last week. This provides a cogent alternative explanation, even though we don't know the specific nature of the factor causing the drop in attendance. 

Both (A) & (D) strengthen the original position, namely, that the team's poor play explains the drop in attendance. In order to strengthen the baseball franchise's position, we have to weaken this original position. 

Choice (B) essentially accuses the baseball franchise of lying, or at least bluffing, which hardly strengthens their position. 

Choice (E) simply adds to the paradox: if the closest MLB team is far away and folks typically don't go there, then there would be more demand for the local minor league baseball. Given that demand, a drop in attendance doesn't make as much sense.  This choice adds to the confusion without explaining anything.

Executive Assessment Mock Test - 7 - Question 20
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Megalimpet is a nationwide owner of office space. They have major office buildings in the downtowns of several cities in the 48 lower states, and rent this space to individual companies. Megalimpet office spaces vary from small office to large suites, and every space has custom-designed wall-to-wall carpeting. The carpet in several Megalimpet facilities needed replacing. The winning bid for the nationwide carpet replacement was submitted by Bathyderm Carpet Company (BCC). The bid contract involves all delivery costs, all installation, and any ongoing maintenance and upkeep while the carpet is under the three-year warranty. Both BCC executives and independent consultants they hired felt BCC would be able to perform all these services for far less than their bid price; these circumstances would allow BCC to reap a considerable profit.

Q. Which of the following, if true, most calls in question the argument that BCC will make a large profit from this contract with Megalimpet?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 20

From all the evidence given, it seems that BCC (and the independent consultants) have taken all costs into account, and the analysis reveals that they will reap a considerable profit. In order to call this into question, we have to come up with some major unanticipated cost that would not be something already considered in this analysis.

(D) is the credited answer. First of all, laser printers and photocopiers are very common devices in office spaces, so we good reason to think that many of Megalimpet's tenants will use these. If the toner degrades the carpet, that's a huge additional expense for BCC, because their contract includes "ongoing maintenance" --- i.e. replacing any carpet that needs replacing. Finally, nothing in the argument stem gives us any indication that this problem was on anybody's radar, so this well could be an unexpected or unanticipated expense for BCC. Therefore, it most calls into question the idea that BCC will make a huge profit.

(A) & (C) are all expenses that would have been very clear to BCC and to its independent consultants, and therefore all of these would have had to have been taken into account when the financial analysis of the bid was made. There is no reason any of these expenses would be unanticipated.

(B) speaks to BCC previous experience, which, if anything, would tend to suggest they know what they are talking about. If anything, this would tend to strengthen the argument, not weaken it.

(E) only compares BCC to the second lowest bid, but we have no idea about that company, what it did or did not take into account in their bid, and what their overall costs might be. There are too many unknowns for this piece of information, by itself, to have any substantial impact on the argument.

Executive Assessment Mock Test - 7 - Question 21
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Research has shown that impoverished people in this country buy unhealthy snack foods on a daily basis because this kind of food is generally less expensive than more nutritious food. Therefore, improving the quality of one’s diet is a crucial step for rising out of poverty.
Q. Which of the following choices uses reasoning that most clearly parallels the reasoning in the argument above?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 21

The evidence in the stimulus is that A (poverty) leads to B (bad diet), while the conclusion is that “not A” (not being poor) leads to “not B” (a good diet). This is not a logical conclusion based on the evidence. By forming the contrapositive of the first premise, we could logically conclude that if you have a good diet, then you are not in poverty. NOTE: The phrase “leads to” in the explanation of the conclusion above can be confusing. We are told that a good diet is crucial, which is like saying that it is necessary. This does NOT mean that a good diet guarantees non-poverty. Instead, non-poverty guarantees a good diet. Therefore, anyone who is not poor has a good diet (“if not A, then not B”), even though the good diet came before the rise out of poverty. It’s like saying that taking the GMAT is a crucial step for going to business school, which translates into “if you want to be in business school, then you must take the GMAT.”
In the correct choice, the evidence comes after the word “because”: If a bank acted improperly (A), then it advertised on the Internet (B). The conclusion, found at the beginning of the answer, is that proper banks (not A) do not advertise on the Internet (not B). As in the stimulus, we are given “if A then B” as evidence, and “if not A then not B” as an (illogical) conclusion. Note that the conclusion is in the beginning of the argument, while the conclusion in the stimulus is in the second sentence. This difference is irrelevant.
(A) We are told that a weed killer with Zorphon will lead to sick pets, and therefore, if you don’t want sick pets don’t get a weed killer with any chemicals. In other words the evidence is if A (weed killer with Zorphon), then B (sick pets); the conclusion is if not B (not sick pets), then C (get weed killers without ANY chemicals).
(B) The evidence here is that A (unnecessary expenditures) has led to B (rising deficit). The conclusion advises against ANY policies of the last administration, not just unnecessary expenditures.
(C) This argument merely says that a particularly policy – granting discounted tuition to students who have only recently lived in the state – should be changed. There is no cause-and-effect argument, as there is in the stimulus.
(E) The evidence is that people who drive to work drive less on the weekends than people who take public transportation to work. This does not set up a clear cause-and-effect argument, as the stimulus does. Furthermore, it then discusses reducing the number of people who drive to work when they could take public transportation, which is a subset of the first group discussed. Thus, this argument is not parallel to the stimulus.

Executive Assessment Mock Test - 7 - Question 22
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Peter invested a certain sum of money in a simple interest bond whose value grew to $300 at the end of 3 years and to $ 400 at the end of another 5 years. What was the rate of interest in which he invested his sum?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 22

Step 1: Compute principal invested
Concept: Simple interest earned remains same year after year.

Initial amount invested = P
Value of investment (Amount) at the end of year 3 = $300
Value of investment (Amount) at the end of year 8 (another 5 years) = $400
Therefore, the interest earned for the 5 year period between the 3rd year and 8th year = $400 - $300 = $100.

So, interest earned per year = 100/5 = $20.
Therefore, interest earned for 3 years = 3 × 20 = $60.
Hence, initial amount invested P = Amount after 3 years - interest for 3 years
P = $300 − $60 = $240
Step 2: Find the rate of interest

Simple interest = $20, Principal P = $240, n = 1 year.

Rate of interest is 8.33%.

Executive Assessment Mock Test - 7 - Question 23
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In a class 40% of the students enrolled for Math and 70% enrolled for Economics. If 15% of the students enrolled for both Math and Economics, what % of the students of the class did not enroll for either of the two subjects?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 23

Objective: Percentage of students who enrolled for neither of the two subjects
Let A be the set of students who enrolled for Math.
Let B be the set of students who enrolled for Economics.
(A ∪ B) is the set of students who have enrolled for at least one of the two subjects.
And (A ∩ B) is the set of students who have enrolled for both Math and Economics.

n(A ∪ B) = n(A) + n(B) - n(A ∩ B)

In this question, all n(A), n(B), n(A ∪ B), and (A ∩ B) are expressed in percentage terms.

n(A ∪ B) = 40 + 70 - 15 = 95%

That is 95% of the students have enrolled for at least one of the two subjects Math or Economics.

Therefore, the balance (100 - 95)% = 5% of the students have not enrolled for either of the two subjects.

Choice A is the correct answer.

Executive Assessment Mock Test - 7 - Question 24
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An analysis of the monthly incentives received by 5 salesmen : The mean and median of the incentives is $7000. The only mode among the observations is $12,000. Incentives paid to each salesman were in full thousands. What is the difference between the highest and the lowest incentive received by the 5 salesmen in the month?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 24

Hints to solve this question:

  1. Mean and Median = $7000. So, find the third highest incentive.
  2. Only one mode; mode = $12,000.
  3. Use hint 1 and hint 2 to find how many executives have got $12,000.
  4. Now compute the sum of incentives got by those who got neither $7000 nor $12000.

Step 1: Understanding the given data

  1. The arithmetic mean of the incentives is $7000.
  2. The median of the incentives is also $7000.
  3. There is only one mode and the mode is $12,000.

Step 2: Decoding Mean and Median

Let their incentives be a, b, c, d, and e such that a ≤ b ≤ c ≤ d ≤ e

Therefore, the median of these values is 'c'.
The median incentive is $7000. So, c = $7000.

Essentially, the incentives are __ __ 7000 __ __

The arithmetic mean of the incentives is $7000.
So, the sum of their incentives a + b + c + d + e = 5 * 7000 = $35,000

Step 3: Decoding Mode

There is only one mode amongst these 5 observations.
The mode is that value that appears with the maximum frequency.
Hence, $12,000 is the incentive received by the most number of salesmen.

So, the incentives are __ __ 7000, 12000, 12000

Step 4: Putting it all together

The incentive that c has got is $7000
The incentive received by d and e are 12,000 each

Therefore, c + d + e = 7000 + 12,000 + 12,000 = $31,000
Hence, a + b = 35,000 - 31,000 = $4000

As there is only one mode, the incentives received by a and b have to be different.
So, a received $1000 and b received $3000.

Maximum incentive: $12,000
Minimum incentive: $1000
Difference between maximum and minimum incentive: $11,000

Choice E is the correct answer.

Executive Assessment Mock Test - 7 - Question 25
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What is the remainder when 1044 × 1047 × 1050 × 1053 is divided by 33?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 25

Useful result pertaining to remainders

You can solve this problem if you know this rule about remainders.
Let a number x divide the product of A and B.
The remainder will be the product of the remainders when x divides A and when x divides B.

Using this rule,
The remainder when 33 divides 1044 is 21.
The remainder when 33 divides 1047 is 24.
The remainder when 33 divides 1050 is 27.
The remainder when 33 divides 1053 is 30.

∴ the remainder when 33 divides 1044 × 1047 × 1050 × 1053 is 21 × 24 × 27 × 30.

Note: The remainder when a number is divided by a divisor 'd' will take values from 0 to (d - 1). It will not be equal to or more than 'd'

The value of 21 × 24 × 27 × 30 is more than 33.
When the value of the remainder is more than the divisor, the final remainder will be the remainder of dividing the product by the divisor.
i.e., the final remainder is the remainder when 33 divides 21 × 24 × 27 × 30.
When 33 divides 21 × 24 × 27 × 30, the remainder is 30.

Choice C is the correct answer.

Executive Assessment Mock Test - 7 - Question 26
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Ram, who is half as efficient as Krish, will take 24 days to complete a task if he worked alone. If Ram and Krish worked together, how long will they take to complete the task?
Detailed Solution for Executive Assessment Mock Test - 7 - Question 26

Ram takes 24 days to complete the task, if he works alone.
Krish is twice as efficient as Ram is. So, working alone, Krish will take half the time to complete the task.i.e., 12 days.

Ram will complete 1/24th of the task in a day.
Krish will complete 1/12th of the task in a day.
When they work together, they will complete  of the task in a day.

Therefore, when they work together they will complete the task in 8 days.

Choice C is the correct answer.

Executive Assessment Mock Test - 7 - Question 27
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Is x3 > x2?

(1) x > 0

(2) x < 1
Detailed Solution for Executive Assessment Mock Test - 7 - Question 27

Evaluate Statement (1) ALONE
Statement 1: x > 0

We know that x is a positive number.

Interval 1: If 0 < x < 1, then x3 < x2.
For example, (0.5)3 = 0.125, which is lesser than (0.5)2 = 0.25
The answer to the question is NO.

Interval 2: If x > 1, then x3 > x2
For example, 23 = 8 which is greater than 22 = 4
The answer to the question is YES.
We do NOT have a DEFINITE answer using statement 1.

Statement 1 ALONE is NOT sufficient.
Eliminate choices A and D. Choices narrow down to B, C, or E.

Evaluate Statement (2) ALONE
Statement 2: x < 1

Interval 1: For positive values of x, i.e., 0 < x < 1, we know x3 < x2.
The answer to the question is NO.

Interval 2:For negative values of x, x3 will be a negative number and x2 will be a positive number.
Hence, x3 < x2
The answer to the question is NO.

Lastly, what is the answer if x = 0?
When x = 0, x3 = x2.
The answer to the question is NO.

Hence, if we know that x < 1, we can conclude that x3 is NOT GREATER THAN x2.
We have a DEFINITE answer, even if it is NO.

Statement 2 ALONE is sufficient. Eliminate choices C and E.

Choice B is the answer.

Executive Assessment Mock Test - 7 - Question 28
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Is y = 3?

(1) (y - 3)(x - 4) = 0
(2) (x - 4) = 0
Detailed Solution for Executive Assessment Mock Test - 7 - Question 28

Evaluate Statement (1) ALONE: (y - 3)(x - 4) = 0

If product of the two terms (y - 3) and (x - 4) is 0, then at least one of the two terms equals 0.
(y - 3) = 0 or (x - 4) = 0 or both (y - 3) and (x - 4) equal 0.
i.e., either y = 3 or x = 4 or that both y = 3 and x = 4.
If x = 4, y could take any value. The value of 'y' could be 3 or it could be some other value and the product will still be a 0.
Example: x = 4 and y = 5. The equation holds good. y ≠ 3.
Counter example: x = 4 and y = 3. The equation holds good. y = 3
We CANNOT determine whether 'y' is 3 from this statement.

Statement 1 ALONE is NOT sufficient.
Eliminate choices A and D. Choices narrow down to B, C or E.

Evaluate Statement (2) ALONE: (x - 4) = 0

The statement provides no information about y.

Statement 2 ALONE is NOT sufficient.
Eliminate choice B. Choices narrow down to C or E.

Evaluate Statements (1) & (2) Together: (y - 3)(x - 4) = 0 & (x - 4) = 0

When x = 4, (y - 3)(x - 4) will be 0 irrespective of the value that y takes.
Can 'y' be 3? Yes 'y' can be 3.
Is y = 3? Not necessary.It can take values other than 3 and the data in the two statements will still hold good.

Eliminate choice C.

Statements TOGETHER are NOT sufficient. Choice E is the answer.

Executive Assessment Mock Test - 7 - Question 29
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What is the standard deviation (SD) of the four numbers p, q, r, and s?

(1) The sum of p, q, r, and s is 24.
(2) The sum of the squares of p, q, r, and s is 224.
Detailed Solution for Executive Assessment Mock Test - 7 - Question 29

Standard deviation = √Mean of squares of the numbers−square of mean of the numbers

Evaluating Statement (1) ALONE: The sum of p, q, r, and s is 24.
From the information in statement 1 we can find the mean of the four numbers to be 6 and the square of the mean of the numbers to be 36.
We need additional information to find the SD.
This statement does not provide any information about the mean of the squares of the numbers.

Statement 1 alone is NOT sufficient.
Eliminate choices A and D. Choices narrow down to B, C, or E.

Evaluating Statement (2) ALONE: The sum of the squares of p, q, r, and s is 224.
Hence, the mean of the squares of the numbers is 56.
However, this statement does not provide any information about the square of the mean of the numbers.

Statement 2 alone is NOT sufficient.
Eliminate choice B. Choices narrow down to C and E.

Evaluating the statements together.
From statement 1 we know that the square of the means is 36.
From statement 2 we know that the mean of the squares is 56.
Using the formula,
Standard deviation = √Mean of squares of the numbers−square of mean of the numbers,
we can find the SD of the 4 numbers.

Statements together are sufficient. Choice C is the answer.

Executive Assessment Mock Test - 7 - Question 30
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How is Bill related to Betty?

(1) Cindy, the wife of Bill's only brother Chris does not have any siblings.
(2) Betty is Cindy's brother in law's wife.
Detailed Solution for Executive Assessment Mock Test - 7 - Question 30

Evaluate Statement (1) ALONE
Statement 1: Cindy, the wife of Bill's only brother Chris does not have any siblings.
We know that Cindy has no siblings and she is the wife of Bill's only brother Chris. So, this statement has helped us establish the relation between Cindy and Bill. However, this statement does not provide any information about Betty and is hence not sufficient to answer the question.

Statement 1 ALONE is NOT sufficient.
Eliminate choices A and D. Choices narrow down to B, C, or E.

Evaluate Statement (2) ALONE
Statement 2: Betty is Cindy's brother in law's wife.
We know that Betty is Cindy's brother in law's wife. This statement establishes a relation between Cindy and Betty. This does not answer the question of how Bill is related to either Cindy or Betty.

Statement 2 ALONE is not sufficient. Eliminate choice B.

Evaluate the statements together
Statement 1: Cindy, the wife of Bill's only brother Chris does not have any siblings.
Statement 2: Betty is Cindy's brother in law's wife.
We combine the two statements, we know that Bill and Cindy are related to each other through Chris, who is the only brother of Bill and that Cindy is Betty's brother in law's wife.
Cindy does not have any siblings and hence her brother in law has to necessarily be her husband's sibling. As Chris is the only brother of Bill, Cindy's brother in law has to be Bill and Betty is his wife.

Statements TOGETHER are sufficient.

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