SBI CBO Mock Test - 1 - Bank Exams MCQ

The author’s main purpose in the passage is to discuss different approaches to addressing the problem of national parks being affected by activities outside their boundaries.

• Several methods have been suggested, like federal legislation to give the National Park Service more power over nearby lands.
• Legislation has faced challenges, passing the House but not the Senate.
• Another idea is to involve states in creating federal park management policies, though this has its own limitations.
• Local involvement is crucial but must align with existing federal laws.

The passage highlights the complexity of balancing local and national interests in protecting park ecosystems.

The passage explains potential outcomes if environmental cooperation between federal and state governments does not improve. Here’s why the loss of species is the likely consequence:

• National parks are affected by external activities like timber harvesting and energy exploration, which compete with wildlife.
• Without improved cooperation, these activities could continue unchecked, harming the local ecosystem.
• Current laws don’t adequately protect wildlife from these external pressures.
• Therefore, without better state-federal cooperation, there is a risk of further species loss in national parks.

Here ‘wise’ is used in the superlative form as ‘wisest’. With superlatives, the article ‘the’ is used.

One word substitution is Dotage.

Imbecility: Stupid or insane behaviour.

Youth: The period between childhood and adult age.

Dotage: The period of life in which a person is old and weak, especially with some loss of mental ability.

Superannuation: Regular payment made into a fund by an employee towards a future pension.

• Choice is compared, hence that of (choice of) is essential. Otherwise, choice and Obama are directly compared making it an error.
• To identify either the similarities or the differences between two things, use "compare to."
• To identify both the similarities and the differences (at the same time), use "compare with." ('Compared with' places the things compared on equal level) India is often compared with China. India is often compared to the US.
• In comparing with something, one finds or discusses both things that are alike and things that are different.

• Polymath means a person of wide knowledge or learning.
• Example:- "a Renaissance polymath"
• Hence, 'poly' will come in the blank to make the sentence meaningful.

Hence, the correct answer is Option C.

In times of economic crisis, the nagging sense about universities could be option 2 or 4. During economic crisis it does not make sense to say that people are 'studying' to make ends meet, 'struggling' makes better sense.

► a few (Det.): a small number of things; some.
► few (Det., Adj.): not many
► Here, "lend me a few rupees" is the right usage.

I remember being taken to the museum by my sister.

V1 (Ist form of verb) + ing in Active Voice changes to ‘being + V3’ (IIIrd form of verb) in Passive Voice.
 

The presence of the preposition ‘of’ after the blank eliminates options B, C and E.

Option A is contextually incorrect.

‘Disposed of’ makes the sentence correct both grammatically and contextually.

Option D is hence the correct option.

Financial Inclusion is defined as the availability and equality of opportunities to access financial services and refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and services.

Non-Performing Asset is a classification used by financial institutions for loans and advances on which the principal is past due and on which no interest payments have been made for some time.

The automated Teller Machine is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller.

A Development Financial Institution (DFI)

• It is defined as “an institution endorsed or supported by the Government of India primarily to provide development/Project finance to one or more sectors or sub-sectors of the economy.
• India’s first DFI was operationalized in 1948 and it set up State Financial Corporations (SFCs) at the state level after passing of the SFCs Act, 1951, succeeded by the development of the Industrial Finance Corporation of India (IFCI).
• DFIs can be classified into four categories of institutions as per their functions:
  • National Development Banks e.g. IDBI, SIDBI, ICICI, IFCI, IRBI, IDFC
  • Sector-specific financial institutions e.g. TFCI, EXIM Bank, NABARD, HDFC, NHB
  • Investment Institutions e.g. LIC, GIC, and UTI
  • State-level Institutions e.g. State Finance corporations and SIDCs
  • Specialized development financial institutions (DFIs), such as Industrial Finance Corporation of India (IFCI), Industrial Development Bank of India (IDBI), National Bank for Agriculture and Rural Development (NABARD), National Housing Board (NHB) and Small Industry Development Bank of India (SIDBI), with majority ownership of the RBI were launched to meet the long-term financing needs of industry and agriculture in India for driving growth in our economy post-independence.

Though, RBI does not engage in direct financing. There is no specific use of the term 'DFI' in either the RBI Act, 1934 or the Companies Act, 1956 or various statutes establishing DFIs.
Hence, Option 4 is the correct answer.

There are five development finance institutions regulated by the Reserve Bank of India.

• The Indian Life Assurance Companies Act, 1912 was the first statutory measure to regulate life business.
• In 1928, the Indian Insurance Companies Act was enacted to enable the Government to collect statistical information about both life and non-life business transacted in India by Indian and foreign insurers including provident insurance societies.
• In 1938, with a view to protecting the interest of the Insurance public, the earlier legislation was consolidated and amended by the Insurance Act, 1938 with comprehensive provisions for effective control over the activities of insurers.
• The Insurance Amendment Act of 1950 abolished Principal Agencies. However, there were a large number of insurance companies and the level of competition was high. So the government of India decided to nationalize the life insurance business in India.

Land Development Banks (LDBs) are essentially co-operative institutions. All the LDBs are registered under the Co-operative Societies Act.

• NPA stands for Non-Performing Asset.
• It is an asset when it ceases to generate income for the bank and becomes overdue for more than 90 days.
• It places a financial burden on the lender.
• NPA is categorized into 3 categories:
  • Sub-standard assets: For less than 12 months.
  • Doubtful assets: For more than 12 months.
  • Loss assets: The one that needs to be fully written off. 
• 'Project Sashakt India AMC' has been implemented by the government to tackle the problem of NPAs.
• The project is recommended by Sunil Mehta Committee.
• SBI has the highest NPA in India with over Rs. 1.86 lakh crore followed by Punjab National Bank and Bank of India.

EARLY INSURERS

• In 1972 with the passing of the General Insurance Business (Nationalisation) Act, general insurance business was nationalized with effect from 1st January 1973. 107 insurers were amalgamated and grouped into four companies, namely National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd, and the United India Insurance Company Ltd. The General Insurance Corporation of India was incorporated as a company in 1971 and it commenced business on January 1sst 1973. This millennium has seen insurance come a full circle in a journey extending to nearly 200 years.
• The process of re-opening of the sector had begun in the early 1990s and the last decade and more has seen it been opened up substantially. 

MALHOTRA COMMITTEE

• In 1993, the Government set up a committee under the chairmanship of RN Malhotra, former Governor of RBI, to propose recommendations for reforms in the insurance sector. The objective was to complement the reforms initiated in the financial sector. 
• The committee submitted its report in 1994 wherein, among other things, it recommended that the private sector be permitted to enter the insurance industry. They stated that foreign companies be allowed to enter by floating Indian companies, preferably a joint venture with Indian partners.

On the Gorewala Committee's recommendation, the Imperial Bank was nationalized in 1955 and renamed the State Bank of India.

At the time of establishment, the authorized capital of the Reserve Bank of India was Rs. 5 crores.

Using a device known as a data input device, users can provide data to a computer for analysis and storage while also issuing orders to the computer.

An algorithm is a procedure used for solving a problem or performing a computation. Algorithms act as an exact list of instructions that conduct specified actions step by step in either hardware- or software-based routines. Algorithms are widely used throughout all areas of IT.

In MS-Excel, without using the mouse or the arrow keys, the fastest way of getting to cell A1 is to press Ctrl+Home key in a spreadsheet.

Common digital video format standardised by the Moving Picture Experts Group (MPEG); typically incorporates MPEG-1 or MPEG-2 audio and video compression; often used for creating movies that are distributed on the Internet.

Communication between a computer and a keyboard involves simplex transmission because here data flows in a single direction. Simplex transmission is a type of transmission mode.

Booting is a startup sequence that starts the operating system of a computer when it is turned on.The initial collection of tasks that the computer carries out when it is turned on is known as the boot sequence.

Machine language is the only language that a computer can understand or use. It can be understood by computers because it simply has binary values of 0s and 1. Simply explained, the computer only comprehends binary code, which consists of 0s and 1s.

The two broad categories of software are system and application.