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SBI CBO Mock Test - 3 - Bank Exams MCQ


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120 Questions MCQ Test Mock Test Series for SBI CBO Exam 2024 - SBI CBO Mock Test - 3

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SBI CBO Mock Test - 3 - Question 1

Suspicious as they are of American intentions, and bolstered by court rulings that seem to give them license to seek out and publish any and all government secrets, the media‘s distrust of our government, combined with their limited understanding of the world at large, damages our ability to design and conduct good policy in ways that the media rarely imagine.

The leak through which sensitive information flows from the government to the press is detrimental to policy in so far as it almost completely precludes the possibility of serious discussion. The fear that anything they say, even in what is construed as a private forum, may appear in print, makes many people, whether our own government officials or the leaders of foreign countries, unwilling to speak their minds.

Must we be content with the restriction of our leaders‘ policy discussions to a handful of people who trust each other, thus limiting the richness and variety of ideas that could be brought forward through a larger group because of the nearly endemic nature of this problem? It is vitally important for the leaders of the United States to know the real state of affairs internationally, and this can occur only if foreign leaders feel free to speak their minds to our diplomats.

Until recently, it looked as if the media had convinced the public that journalists were more reliable than the government; however, this may be changing. With the passage of time, the media have lost lustre. They—having grown large and powerful—provoke the same public skepticism that other large institutions in the society do. A series of media scandals has contributed to this. Many Americans have concluded that the media are no more credible than the government, and public opinion surveys reflect much ambivalence about the press.

While leaks are generally defended by media officials on the grounds of the public‘s ―right to know,in reality they are part of the Washington political power game, as well as part of the policy process. The "leaker" may be currying favour with the media, or may be planting information to influence policy. In the first case, he is helping himself by enhancing the prestige of a journalist; in the second, he is using the media as a stage for his preferred policies. In either instance, it closes the circle: the leak begins with a political motive, is advanced by a politicized media, and continues because of politics. Although some of the journalists think they are doing the work, they are more often than not instruments of the process, not prime movers. The media must be held accountable for their activities, just like every other significant institution in our society, and the media must be forced to earn the public‘s trust.

Direction: Read the above Paragraph and answer the following questions.
Q. Based on the information in the passage, with which of the following statements would the author most likely agree? 

Detailed Solution for SBI CBO Mock Test - 3 - Question 1

Mapping the Passage:

  • Para 1 argues that the media‘s suspicion of government and lack of knowledge about the world harm government policy.
  • Para 2 and 3 introduce the concept of the ―leak and explain why it‘s bad for foreign policy.
  • Para 4 states that the media was trusted by the public until recently, but are now met with skepticism.
  • Para 5 argues that leaks are usually part of a power grab and that the media is a pawn in the game.

Review the author‘s main arguments before looking for an answer choice that he agrees with.
Option (A)
recalls the author‘s point in Para 2: ―Leaders often say one thing in public and something quite different in public conversation. The author explains why this occurs—fear of media leaks—and clearly opposes such leaks. Therefore, the author must agree with (A)‘s contention that misinformation is sometimes warranted.

SBI CBO Mock Test - 3 - Question 2

Suspicious as they are of American intentions, and bolstered by court rulings that seem to give them license to seek out and publish any and all government secrets, the media‘s distrust of our government, combined with their limited understanding of the world at large, damages our ability to design and conduct good policy in ways that the media rarely imagine.

The leak through which sensitive information flows from the government to the press is detrimental to policy in so far as it almost completely precludes the possibility of serious discussion. The fear that anything they say, even in what is construed as a private forum, may appear in print, makes many people, whether our own government officials or the leaders of foreign countries, unwilling to speak their minds.

Must we be content with the restriction of our leaders‘ policy discussions to a handful of people who trust each other, thus limiting the richness and variety of ideas that could be brought forward through a larger group because of the nearly endemic nature of this problem? It is vitally important for the leaders of the United States to know the real state of affairs internationally, and this can occur only if foreign leaders feel free to speak their minds to our diplomats.

Until recently, it looked as if the media had convinced the public that journalists were more reliable than the government; however, this may be changing. With the passage of time, the media have lost lustre. They—having grown large and powerful—provoke the same public skepticism that other large institutions in the society do. A series of media scandals has contributed to this. Many Americans have concluded that the media are no more credible than the government, and public opinion surveys reflect much ambivalence about the press.

While leaks are generally defended by media officials on the grounds of the public‘s ―right to know, in reality they are part of the Washington political power game, as well as part of the policy process. The "leaker" may be currying favour with the media, or may be planting information to influence policy. In the first case, he is helping himself by enhancing the prestige of a journalist; in the second, he is using the media as a stage for his preferred policies. In either instance, it closes the circle: the leak begins with a political motive, is advanced by a politicized media, and continues because of politics. Although some of the journalists think they are doing the work, they are more often than not instruments of the process, not prime movers. The media must be held accountable for their activities, just like every other significant institution in our society, and the media must be forced to earn the public‘s trust. 

Direction: Read the above Paragraph and answer the following questions.
Q. Implicit in the author‘s argument that leaks result in far more limited and unreliable policy discussions with foreign leaders is the idea that:  

Detailed Solution for SBI CBO Mock Test - 3 - Question 2

Mapping the Passage:

  • Para 1 argues that the media‘s suspicion of government and lack of knowledge about the world harm government policy.
  • Para 2 and 3 introduce the concept of the ―leak and explain why it‘s bad for foreign policy.
  • Para 4 states that the media was trusted by the public until recently, but are now met with skepticism.
  • Para 5 argues that leaks are usually part of a power grab and that the media is a pawn in the game.

This question requires students to find the assumption in the lines mentioned. Review the author‘s argument in 2 Para that leaks harm discussions with foreign leaders. What is the author assuming in this argument?
The author argues that foreign leaders don‘t want their private thoughts to be made public, he must also, therefore, assume that leaders have some sort of reason for not wanting their views to be made public.
Option (D) provides a possible reason. If unclear, use the denial test: if leaders didn‘t have this fear, what would be their motivation for hiding their personal views?

SBI CBO Mock Test - 3 - Question 3

Suspicious as they are of American intentions, and bolstered by court rulings that seem to give them license to seek out and publish any and all government secrets, the media‘s distrust of our government, combined with their limited understanding of the world at large, damages our ability to design and conduct good policy in ways that the media rarely imagine.

The leak through which sensitive information flows from the government to the press is detrimental to policy in so far as it almost completely precludes the possibility of serious discussion. The fear that anything they say, even in what is construed as a private forum, may appear in print, makes many people, whether our own government officials or the leaders of foreign countries, unwilling to speak their minds.

Must we be content with the restriction of our leaders‘ policy discussions to a handful of people who trust each other, thus limiting the richness and variety of ideas that could be brought forward through a larger group because of the nearly endemic nature of this problem? It is vitally important for the leaders of the United States to know the real state of affairs internationally, and this can occur only if foreign leaders feel free to speak their minds to our diplomats.

Until recently, it looked as if the media had convinced the public that journalists were more reliable than the government; however, this may be changing. With the passage of time, the media have lost lustre. They—having grown large and powerful—provoke the same public skepticism that other large institutions in the society do. A series of media scandals has contributed to this. Many Americans have concluded that the media are no more credible than the government, and public opinion surveys reflect much ambivalence about the press.

While leaks are generally defended by media officials on the grounds of the public‘s ―right to know, in reality they are part of the Washington political power game, as well as part of the policy process. The "leaker" may be currying favour with the media, or may be planting information to influence policy. In the first case, he is helping himself by enhancing the prestige of a journalist; in the second, he is using the media as a stage for his preferred policies. In either instance, it closes the circle: the leak begins with a political motive, is advanced by a politicized media, and continues because of politics. Although some of the journalists think they are doing the work, they are more often than not instruments of the process, not prime movers. The media must be held accountable for their activities, just like every other significant institution in our society, and the media must be forced to earn the public‘s trust. 

Direction: Read the above Paragraph and answer the following Questions.
Q. What is the main idea of the passage?  

Detailed Solution for SBI CBO Mock Test - 3 - Question 3

Mapping the Passage:

  • Para 1 argues that the media‘s suspicion of government and lack of knowledge about the world harm government policy.
  • Para 2 and 3 introduce the concept of the ―leak and explain why it‘s bad for foreign policy.
  • Para 4 states that the media was trusted by the public until recently, but are now met with skepticism.
  • Para 5 argues that leaks are usually part of a power grab and that the media is a pawn in the game.

Option (C) is the most consistent with our passage summary above.

SBI CBO Mock Test - 3 - Question 4

Suspicious as they are of American intentions, and bolstered by court rulings that seem to give them license to seek out and publish any and all government secrets, the media‘s distrust of our government, combined with their limited understanding of the world at large, damages our ability to design and conduct good policy in ways that the media rarely imagine.

The leak through which sensitive information flows from the government to the press is detrimental to policy in so far as it almost completely precludes the possibility of serious discussion. The fear that anything they say, even in what is construed as a private forum, may appear in print, makes many people, whether our own government officials or the leaders of foreign countries, unwilling to speak their minds.

Must we be content with the restriction of our leaders‘ policy discussions to a handful of people who trust each other, thus limiting the richness and variety of ideas that could be brought forward through a larger group because of the nearly endemic nature of this problem? It is vitally important for the leaders of the United States to know the real state of affairs internationally, and this can occur only if foreign leaders feel free to speak their minds to our diplomats.

Until recently, it looked as if the media had convinced the public that journalists were more reliable than the government; however, this may be changing. With the passage of time, the media have lost lustre. They—having grown large and powerful—provoke the same public skepticism that other large institutions in the society do. A series of media scandals has contributed to this. Many Americans have concluded that the media are no more credible than the government, and public opinion surveys reflect much ambivalence about the press.

While leaks are generally defended by media officials on the grounds of the public‘s ―right to know, in reality they are part of the Washington political power game, as well as part of the policy process. The "leaker" may be currying favour with the media, or maybe planting information to influence policy. In the first case, he is helping himself by enhancing the prestige of a journalist; in the second, he is using the media as a stage for his preferred policies. In either instance, it closes the circle: the leak begins with a political motive, is advanced by a politicized media, and continues because of politics. Although some of the journalists think they are doing the work, they are more often than not instruments of the process, not prime movers. The media must be held accountable for their activities, just like every other significant institution in our society, and the media must be forced to earn the public‘s trust. 

Direction: Read the above Paragraph and answer the following questions.
Q. Based on the passage, when the media now challenge the actions of a public official, the public assumes that:  

Detailed Solution for SBI CBO Mock Test - 3 - Question 4

Mapping the Passage:

  • Para 1 argues that the media‘s suspicion of government and lack of knowledge about the world harm government policy.
  • Para 2 and 3 introduce the concept of the ―leak and explain why it‘s bad for foreign policy.
  • Para 4 states that the media was trusted by the public until recently, but are now met with skepticism.
  • Para 5 argues that leaks are usually part of a power grab and that the media is a pawn in the game.

Go back to Para 4 to review what the public thinks of the media. The author argues that the public is equally skeptical of media and government, saying that in the past, the public always assumed the media was right when it challenged the government, but that ―this may be changing.
Therefore, the public might now consider the possibility that the media, rather than the government, is wrong.
While the wrong answer choices distort this, option (C) rewards careful and methodical thought.

SBI CBO Mock Test - 3 - Question 5

Identify the incorrect sentence or sentences

A. It was a tough situation and Manasi was taking pains to make it better. 

B. Slowly her efforts gave fruit and things started improving. 

C. Everyone complemented her for her good work. 

D. She was very happy and thanked everyone.

Detailed Solution for SBI CBO Mock Test - 3 - Question 5

 Everyone complimented her for her good work.
The appropriate preposition should have been ‘on’ and not ‘for’. And so, the correct sentence should be:
Everyone complimented her on her good work.
Sometimes prepositions may be used in a sentence though they are not needed, so this is another kind of incorrect sentence that the examinee should be able to identify.

The correct answer is Option C. 

SBI CBO Mock Test - 3 - Question 6

"Could you fill me in?" means :

Detailed Solution for SBI CBO Mock Test - 3 - Question 6

Fill someone in (on someone or something).
To tell someone the details about someone or something.
Example: 
(i) Please fill me in on what happened last night.
(ii) Please fill in the committee on the details.

SBI CBO Mock Test - 3 - Question 7

Since the beginning of history

P: have managed to catch
Q: the Eskimos and Red Indians
R: by a very difficult method
S: a few specimens of this aquatic animal

The Proper sequence should be:

Detailed Solution for SBI CBO Mock Test - 3 - Question 7

The correct order will be:
Since the beginning of history → the Eskimos and Red Indians (Q)→ have managed to catch (P)→ a few specimens of this aquatic animal (S)→ by a very difficult method. (R)

SBI CBO Mock Test - 3 - Question 8

_________memories of past experiences allow new memories to bloom, much as__________leaves allow for new growth.

Detailed Solution for SBI CBO Mock Test - 3 - Question 8

If 'past experiences allow new memories to bloom/ the past experiences must essentially recede or go into the background, hence fading in the first blank.

For the comparison of fading memories (past experiences) to be consistent, it must refer to something that is going away—hence dying in the next blank.

Vocabulary:

Newfangled means: a new kind or fashion: newfangled ideas; fond of or given to novelty. Exfoliate means: to throw off scales or flakes; peel off in thin fragments: The bark of some trees exfoliates.

SBI CBO Mock Test - 3 - Question 9

After Sheetu ...... the magazines and novels, she decided to go out and meet some friends.        

Detailed Solution for SBI CBO Mock Test - 3 - Question 9

To determine the correct answer, let's analyze the sentence:
"After Sheetu ...... the magazines and novels, she decided to go out and meet some friends."
The sentence indicates that Sheetu completed the action of reading magazines and novels before deciding to go out and meet her friends. Therefore, we need to use the past perfect tense to indicate the completion of the action before another past action.
Let's evaluate each option:
A: "read" - This is the simple past tense, indicating a past action. However, it does not convey that the action was completed before the decision to go out and meet friends. Incorrect.
B: "had been reading" - This is the past perfect continuous tense, indicating an ongoing action that started before another past action. However, it does not convey that the action was completed before the decision to go out and meet friends. Incorrect.
C: "had read" - This is the correct answer. The past perfect tense "had read" indicates that the action of reading magazines and novels was completed before the decision to go out and meet friends. Correct.
D: "will have read" - This is the future perfect tense, indicating an action that will be completed before a future time. It does not fit the context of the sentence. Incorrect.
E: "reading" - This is the present participle form, indicating an ongoing action in the present. It does not fit the context of the sentence. Incorrect.
Therefore, the correct answer is C: "had read."
SBI CBO Mock Test - 3 - Question 10

When it was feared that the serfs might go too far and gain their freedom from serfdom, the protestant leaders joined the princes at crushing them.

Detailed Solution for SBI CBO Mock Test - 3 - Question 10

Correct Formation: When it was feared that the serfs might go too far and gain their freedom from serfdom, the protestant leaders joined the princes in crushing them.
► This is because when people have interest, opinion, feeling or belief then we use "in".

SBI CBO Mock Test - 3 - Question 11

Improve the bracketed part of the sentence.
"By rescuing the child from fire, the local resident (added another feather to his cap)." 

Detailed Solution for SBI CBO Mock Test - 3 - Question 11

Adding a feather in one’s cap means making a significant achievement. So option E is correct.

SBI CBO Mock Test - 3 - Question 12

DirectionsIn questions given below out of four alternatives, choose the one which can be substituted for the given word/sentence.

Q. A person who insists on something.

Detailed Solution for SBI CBO Mock Test - 3 - Question 12

One word substitution is Stickler.

Disciplinarian: A person who believes in or practises firm discipline.

Stickler: A person who insists on a certain quality or type of behaviour.

Instantaneous: Occurring or done instantly.

Boaster: A very boastful and talkative person.

SBI CBO Mock Test - 3 - Question 13

Darjeeling grows tea.

Detailed Solution for SBI CBO Mock Test - 3 - Question 13

“Tea is grown in Darjeeling” is the passive voice for the sentence “Darjeeling grows tea”.  

In the active voice the subject will be in the beginning of the sentence and the object will be in the end. The verb will change accordingly. In the ‘passive voice’ the object will be in the beginning and the subject will be at the end. The verb will change accordingly. 

SBI CBO Mock Test - 3 - Question 14

Directions: Spot the error in the underlined part of the sentence and choose the correct sentence accordingly.

The tendency to eat late, though it has never been tested properly, many nutritionists believe, as a factor in putting on weight.

Detailed Solution for SBI CBO Mock Test - 3 - Question 14
  • There are two clauses in this sentence: The tendency to eat late is believed (by nutritionists) to be a factor in putting on weight and (though) it has never been tested properly.
  • The first clause can also be correctly constructed as "The tendency to eat late, many nutritionists believe, is a factor in putting on weight." But, this is not among the options.
  • "Believed, as a factor" is incorrect.
SBI CBO Mock Test - 3 - Question 15

They arrived ____________ to see the beginning of the match.

Detailed Solution for SBI CBO Mock Test - 3 - Question 15

1. Just at the time of the beginning of the match would be incorrect.

2. Just in time to see the beginning of the match is correct.

3. Third option is incorrect completely.

SBI CBO Mock Test - 3 - Question 16

A French woman

P: committed suicide
Q: where she had put up
R: who had come to Calcutta
S: by jumping from the first floor balcony of the hotel

The Proper sequence should be:

Detailed Solution for SBI CBO Mock Test - 3 - Question 16

The correct order will be:
A French woman → who had come to calcutta (R)→ committted suicide (P)→ by jumping from the first floor balcony of the hotel (S)→ where she had put up. (Q)

SBI CBO Mock Test - 3 - Question 17

Though Vitamin C is strongly associated with immunity, a prolonged marginal deficiency of Vitamin C may not lead to clinical symptoms; however, it may _________ one towards heart disease and _________ immunity.

Detailed Solution for SBI CBO Mock Test - 3 - Question 17

The deficiency may make one susceptible to heart disease and immunity may be affected adversely' hence predispose (make one susceptible) one to heart disease, and lowered immunity logically complete the sentence.

SBI CBO Mock Test - 3 - Question 18

It is desirable to take _____ in any business if you want to make profit.        

Detailed Solution for SBI CBO Mock Test - 3 - Question 18

Answer:


Introduction:


In order to make a profit in any business, it is important to take certain actions or factors into consideration. This question asks which of the given options is desirable in order to achieve profitability.



Risk:



  • Taking risks is an essential part of any business strategy.

  • By taking calculated risks, businesses can seize new opportunities and potentially increase their profits.

  • However, it is important to note that not all risks will lead to profit, and some may result in losses.

  • Nevertheless, without taking risks, it is difficult for a business to grow and succeed.

  • Therefore, risk is a desirable factor in order to make a profit in business.


Other Options:



  • Advice: While seeking advice from experienced individuals or professionals can be beneficial, it is not the sole factor that guarantees profitability in business.

  • Loan: While obtaining a loan can provide financial resources, it does not guarantee profitability. The success of a business depends on various factors beyond just access to capital.

  • Recourse: Recourse refers to the legal right to demand payment or compensation. While it may be useful in certain situations, it is not directly tied to profitability in business.

  • Perseverance: Perseverance is an important trait for entrepreneurs, but it alone does not guarantee profitability. Other factors such as market demand, competitive advantage, and financial management are also critical.


Conclusion:


Among the given options, taking risks is the most desirable factor in order to make a profit in business. While other factors such as advice, loans, recourse, and perseverance are important, they are not directly linked to profitability.

SBI CBO Mock Test - 3 - Question 19

If the room had been brighter, I would have been able to read for a while before bed time.

Detailed Solution for SBI CBO Mock Test - 3 - Question 19

Had the room been brighter I would have been able to read for a while before bed time.

SBI CBO Mock Test - 3 - Question 20

"She glanced back to make sure she (wasn't to be) observed."

Detailed Solution for SBI CBO Mock Test - 3 - Question 20

The sentence is in past progressive passive form and hence being is used with the past participle.

SBI CBO Mock Test - 3 - Question 21

DirectionsIn questions given below out of four alternatives, choose the one which can be substituted for the given word/sentence.

Q. State in which the few govern the many.

Detailed Solution for SBI CBO Mock Test - 3 - Question 21

One word substitution is Oligarchy.

Monarchy: A form of government with a monarch at the head.

Oligarchy: A small group of people having control of a country or organization.

Plutocracy: A state or society governed by the wealthy.

Autocracy: A system of government by one person with absolute power.

SBI CBO Mock Test - 3 - Question 22

They have built a perfect dam across the river.

Detailed Solution for SBI CBO Mock Test - 3 - Question 22

A perfect dam has been built by them across the river.
Dam is an object so has been used and the they in the active voice has become them in the passive voice.

SBI CBO Mock Test - 3 - Question 23

Directions: In the following questions, a sentence is given with two blanks. You have to find the pair of words from the given options that fit both the blanks in the given order and make the sentence grammatically and contextually correct.

In her, the _______ Gujarat riots have forged an iron spirit that will ________ other embattled women to fight for justice.

Detailed Solution for SBI CBO Mock Test - 3 - Question 23

A strong spirit always motivates others, thus the second blank must have words like motivate, inspire, etc.

This makes option C the correct choice.

Hence option C is correct.

SBI CBO Mock Test - 3 - Question 24

Read the each sentence to find out whether there is any grammatical error in it. The error, if any will be in one part of the sentence. The letter of that part is the answer. If there is no error, the answer is 'D'. (Ignore the errors of punctuation, if any).

Detailed Solution for SBI CBO Mock Test - 3 - Question 24

I would have contacted you

SBI CBO Mock Test - 3 - Question 25

Directions: In the following questions, a sentence is given with two blanks. You have to find the pair of words from the given options that fit both the blanks in the given order and make the sentence grammatically and contextually correct.

The Supreme Court’s order to _________ and close 27 resorts operating in corridors used by elephants in the Nilgiris is a necessary step to _________ the ecology of these spaces.

Detailed Solution for SBI CBO Mock Test - 3 - Question 25

Cover does not fit in contextually in the first blank as it does not render meaning to the sentence. The sentence talks about Supreme Court's order relating to area used by elephants. Hence, option A is eliminated.

Block does not fit in contextually in the first blank as it does not render meaning to the sentence. Block cannot be coupled with Close in the sentence. Hence, option C is eliminated.

Aid and Support carry positive meaning and they cannot be used with Close. Hence, option D and E are eliminated.

Hence, option B is the answer.

SBI CBO Mock Test - 3 - Question 26

Read the each sentence to find out whether there is any grammatical error in it. The error, if any will be in one part of the sentence. The letter of that part is the answer. If there is no error, the answer is 'D'. (Ignore the errors of punctuation, if any).

Detailed Solution for SBI CBO Mock Test - 3 - Question 26

why I called

SBI CBO Mock Test - 3 - Question 27

Directions: In the following questions, a sentence is given with two blanks. You have to find the pair ofwords from the given options that fit both the blanks in the given order and make the sentence grammatically and contextually correct.

The internet user base in the country has now _________ over half-a-billion, primarily led by the rapid _________ of smartphones and decreasing mobile data prices.

Detailed Solution for SBI CBO Mock Test - 3 - Question 27

Adaptation does not fit in contextually as the sentence talks about the expansion of user base of internet because of greater use of smartphones in India. Hence, option A is eliminated.

Rise does not fit in contextually as it does not talk about rise in the number of users. Hence, option B is eliminated.

Again, 'Use' does not fit in contextually as rapid use of Smartphone does not mean greater number of Smartphone users. Hence, option D is eliminated.

Placed does not fit in contextually as it does not render meaning to the sentence. Hence, option E is eliminated.

Hence, option C is the answer.

SBI CBO Mock Test - 3 - Question 28

Read the each sentence to find out whether there is any grammatical error in it. The error, if any will be in one part of the sentence. The letter of that part is the answer. If there is no error, the answer is 'D'. (Ignore the errors of punctuation, if any).

Detailed Solution for SBI CBO Mock Test - 3 - Question 28

Had you been instead of Were you.
 

SBI CBO Mock Test - 3 - Question 29

Directions: In the following questions, a sentence is given with two blanks. You have to find the pair ofwords from the given options that fit both the blanks in the given order and make the sentence grammatically and contextually correct.

China _______ its arrival in the private sector space race last week, as OneSpace became the first Chinese company to launch a small rocket—its first step towards sending _______ small satellites in space.

Detailed Solution for SBI CBO Mock Test - 3 - Question 29

Dealt and coloured do not make sense in the first blank and are incorrect. Thus, options B and D can be eliminated.

Out of options A and C, A is the only option where both words fit both the blanks respectively.

Hence, option C is correct.

SBI CBO Mock Test - 3 - Question 30

Read the each sentence to find out whether there is any grammatical error in it. The error, if any will be in one part of the sentence. The letter of that part is the answer. If there is no error, the answer is 'D'. (Ignore the errors of punctuation, if any).

Detailed Solution for SBI CBO Mock Test - 3 - Question 30

The person who was

SBI CBO Mock Test - 3 - Question 31

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

Detailed Solution for SBI CBO Mock Test - 3 - Question 31

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.

SBI CBO Mock Test - 3 - Question 32

With reference to the financial institutions in India, which of the following is/are the Development Financial Institutions in India?

  1. Reserve Bank of India
  2. National Bank for Agriculture and Rural Development
  3. National Housing Bank
  4. SIDBI

Select the correct answer using the code given below.

Detailed Solution for SBI CBO Mock Test - 3 - Question 32

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.

SBI CBO Mock Test - 3 - Question 33

An ACH is a computer-based electronic network that allows participating financial institutions to execute transactions, mainly low-value domestic transfers. What does C represent in the acronym ACH?

Detailed Solution for SBI CBO Mock Test - 3 - Question 33

An automated clearing house (ACH) is a computer-based electronic network that allows participating financial institutions to execute transactions, mainly low-value domestic transfers.

SBI CBO Mock Test - 3 - Question 34

________ is a system which enables payment between two entities i.e. a payer and payee and constitutes clearing, settlement or payment service.

Detailed Solution for SBI CBO Mock Test - 3 - Question 34

Payment and Settlement Systems constitute a major aspect of a country’s financial and economic structure. A payment system is a system that enables payment between two entities i.e. a payer and payee and constitutes clearing, settlement, or payment service.

SBI CBO Mock Test - 3 - Question 35

How many All India Financial Institutions are there at present regulated by the Reserve Bank of India (RBI)?

Detailed Solution for SBI CBO Mock Test - 3 - Question 35

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

SBI CBO Mock Test - 3 - Question 36

Consider the following statements regarding Non-Banking Financial Companies.

  1. NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself.
  2. NBFCs cannot accept demand deposits.
  3. Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs.

Which of the above statements is/are correct?

Detailed Solution for SBI CBO Mock Test - 3 - Question 36
  • NBFCs lend and make investments and hence their activities are akin to that of banks; however, there are a few differences as given below:
  • NBFC cannot accept demand deposits; (The NBFCs are allowed to accept/renew public deposits for a minimum period of 12 months and a maximum period of 60 months. They cannot accept deposits repayable on demand.) Hence, statement 2 is correct.
  • NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself. Hence, statement 1 is correct.
  • The deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks. Hence, statement 3 is correct.
SBI CBO Mock Test - 3 - Question 37

Which was the first statutory measure (Act) to regulate life business in India?

Detailed Solution for SBI CBO Mock Test - 3 - Question 37
  • 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.
SBI CBO Mock Test - 3 - Question 38

Where is the headquarters of the World Bank located?

Detailed Solution for SBI CBO Mock Test - 3 - Question 38

World Bank has headquarters in Washington, D.C., United States

SBI CBO Mock Test - 3 - Question 39

What are the features of the Automated Teller Machine (ATM)?

Detailed Solution for SBI CBO Mock Test - 3 - Question 39

Features of ATM:

  1. Transfer of Funds
  2. Balance Enquiry
  3. Easy Cash Withdrawal
  4. Unlock or Change Pin
  5. Cash Deposit
SBI CBO Mock Test - 3 - Question 40

Which body is responsible to regulate, promote and ensure orderly growth of the insurance industry in India?

Detailed Solution for SBI CBO Mock Test - 3 - Question 40
  • The Insurance Regulatory and Development Authority of India (IRDAI) is a regulatory body under the jurisdiction of the Ministry of Finance, Government of India.
  • It is tasked with regulating and licensing the insurance and re-insurance industries in India.
  • It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the Government of India.
SBI CBO Mock Test - 3 - Question 41

Which among the  following is true regarding Co-operative banks in India?

Detailed Solution for SBI CBO Mock Test - 3 - Question 41
  • The co-operative bank is basically for the retail customers or cooperatives not for the large scale customers. It is also known as Bank of Cooperatives.
  • It can be classified into two segments which are - 1) Urban Cooperative Banks and 2) Rural Cooperatives.
  • Urban Cooperative Banks are monitored by RBI.
  • Banking activities of Rural Cooperatives are regulated by a shared arrangement between RBI and NABARD.
  • Headquarters of RBI and NABARD both are in Mumbai.
SBI CBO Mock Test - 3 - Question 42

Which among the following is used as an identifier of mobile money?

Detailed Solution for SBI CBO Mock Test - 3 - Question 42

MMID is used as an identifier of mobile money.

SBI CBO Mock Test - 3 - Question 43

Consider the following statements regarding External Commercial Borrowing (ECB) –

  1. ECB is a loan availed by an Indian entity from a non-resident lender.
  2. ECBs cannot be used for investment in the stock market or speculation in real estate.
  3. Public Sector Enterprises are not eligible for External commercial borrowing.

Which of the statements given above is/are correct?

Detailed Solution for SBI CBO Mock Test - 3 - Question 43

External Commercial Borrowings are commercial loans raised by eligible resident entities from recognized non-resident entities.
The utilization of ECB proceeds is now permitted to satisfy general corporate purposes, working capital requirements, repayment of INR loans and for such on-lending purposes. ECBs cannot be used for investment in the stock market or speculation in real estate.
Hence, Only 1 and 2 us correct. 

SBI CBO Mock Test - 3 - Question 44

Which of the following is considered as a Non-Banking Financial Company (NBFC)?

Detailed Solution for SBI CBO Mock Test - 3 - Question 44
  • NBFCs provide a range of financial services to their clients. Types of services under Non-Banking Financial services include the following : 
    • Hire purchase services
    • Leasing services
    • Housing finance services
    • Asset management services
    • Venture capital services
    • Mutual benefit finance services (Nidhi) banks.
  • Since they perform the basic twin functions of attracting deposits from the public and are making loans, NBFCs are essentially banks, however, unlike commercial banks, they are not incorporated as a bank and are not governed by provisions of the Banking Regulation Act, 1949.
  • The Reserve Bank of India is responsible for controlling the functioning of NBFCs.
  • It is mandatory for an NBFC to get itself registered with the RBI as a deposit-taking company.
  • For registration, they need to be a company (incorporated under the Companies Act, 1956) and should have a minimum NOF (Net Owned Fund) of rupees 2 crores.
SBI CBO Mock Test - 3 - Question 45

Under which of the following committee's recommendations in 1999, the Insurance Regulatory and Development Authority (IRDA) was constituted as an autonomous body to regulate and develop the insurance industry?

Detailed Solution for SBI CBO Mock Test - 3 - Question 45

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.
SBI CBO Mock Test - 3 - Question 46

Where are the headquarters of the OECD is located?

Detailed Solution for SBI CBO Mock Test - 3 - Question 46
  • OECD is the acronym of Organisation for Economic Co-operation and Development.
  • OECD is an international organisation that works to build better policies for better lives.
  • OECD is an intergovernmental economic organisation with 38 member countries.
  • It was founded in 1961 to stimulate economic progress and world trade.
  • The headquarters of the OECD is located in Paris in France.
  • India is not a member of OECD but a key economic partner.
  • Colombia in 2020 and Costa Rica in 2021 were the most recent countries to join the OECD.
SBI CBO Mock Test - 3 - Question 47

Which bank was the first to introduce the Talking ATM?

Detailed Solution for SBI CBO Mock Test - 3 - Question 47

On June 6, 2012, Union Bank of India, one of India's biggest public sector banks, launched India's first Truly Accessible and Talking ATM in Vastrapur, Ahmedabad, Gujarat, for the visually and physically impaired.

SBI CBO Mock Test - 3 - Question 48

Consider the following statements regarding the term lending financial institutions:

  1. Such institutions extending long-term finance to different industrial sectors.
  2. IFCI Ltd., IDBI, IDFC Ltd., IIBI Ltd. comes under the term-lending institutions in India.
  3. SBI and PNB are not term-lending institutions in India.

Which of the following statement(s) is/are true?

Detailed Solution for SBI CBO Mock Test - 3 - Question 48

Based on the major activity undertaken by them, Financial Institutions (FIs) get classified into three broad categories:

  • Term-lending institutions, whose main activity is direct lending by way of term loans and investments. IFCI Ltd., IDBI, IDFC Ltd., IIBI Ltd. comes under the term-lending institutions in India.
  • Refinance institutions, such as the National Bank for Agriculture and Rural Development (NABARD), Small Industries Development Bank of India (SIDBI) and National Housing Bank (NHB), which mainly extend refinance to banks as well as non-banking financial institutions and;
  • Investment institutions such as Life Insurance Corporation (LIC), which deploy their assets largely in marketable securities.
  • SBI and PNB are also term-lending institutions in India.
SBI CBO Mock Test - 3 - Question 49

Any fund established or incorporated in India that is a privately pooled investment vehicle that collects funds from sophisticated investors, whether Indian or foreign, for investing by a defined investment policy for the benefit of its investors is referred to as an AIF. What does A represent in AIF?

Detailed Solution for SBI CBO Mock Test - 3 - Question 49

Any fund established or incorporated in India that is a privately pooled investment vehicle that collects funds from sophisticated investors, whether Indian or foreign, for investing by a defined investment policy for the benefit of its investors is referred to as an Alternative Investment Fund or AIF.

SBI CBO Mock Test - 3 - Question 50

What are the Objectives of the Payments and Settlement Systems Act?

Detailed Solution for SBI CBO Mock Test - 3 - Question 50

Objectives of Payment and Settlement Act:

  1. Provides for the regulation and supervision of payment systems in India
  2. To designate the RBI as authority for purposes related to payment systems in India
  3. The Act also provides the legal basis for netting and settlement facilities.
SBI CBO Mock Test - 3 - Question 51

Exim Bank was established by the Indian government under the Export-Import Bank of India Act ________ as an export credit provider, replicating worldwide export credit agencies. Where is the headquarters of EXIM Bank?

Detailed Solution for SBI CBO Mock Test - 3 - Question 51

Exim Bank was established by the Indian government under the Export-Import Bank of India Act, 1981 as an export credit provider, replicating worldwide export credit agencies. Headquarters: Mumbai

SBI CBO Mock Test - 3 - Question 52

A Non-Banking Financial Company (NBFC) is a company registered under _________.

Detailed Solution for SBI CBO Mock Test - 3 - Question 52

A Non-Banking Financial Company (NBFC) is a company registered under Companies Act, 1956.

SBI CBO Mock Test - 3 - Question 53

The first ever life insurance company in India, Oriental Life Insurance Company, was set up in Calcutta in the year _________.

Detailed Solution for SBI CBO Mock Test - 3 - Question 53
  • The life insurance business commenced in India with the establishment of Oriental Life Insurance Company in Calcutta in 1818.
  • The general insurance business came to India in the year 1850 in Calcutta as the Triton Insurance Company Limited.
SBI CBO Mock Test - 3 - Question 54

Where are the IMF headquarters located?

Detailed Solution for SBI CBO Mock Test - 3 - Question 54

The International Monetary Fund is an international organization headquartered in Washington, D.C., of "189 countries working to foster global monetary cooperation, secure financial stability.

SBI CBO Mock Test - 3 - Question 55

As per the RBI instructions in case of a failed ATM transaction, the card-issuing bank has been mandated to resolve the customer complaint by re-crediting the customer's account within ______ working days from the date of complaint.

Detailed Solution for SBI CBO Mock Test - 3 - Question 55

As per the RBI instructions in case of a failed ATM transaction, the card-issuing bank has been mandated to resolve the customer complaint

SBI CBO Mock Test - 3 - Question 56

SEBI was established in which year?

Detailed Solution for SBI CBO Mock Test - 3 - Question 56

Securities and exchange Board of India (SEBI) was first established in the year 1988 AQF as a non-statutory body for regulating the, securities market. It became an autonomous body by The Government of India on 12 April 1992 and given statutory powers in 1992 with SEBI Act 1992 being passed by the Indian Parliament.

SBI CBO Mock Test - 3 - Question 57

Which of the following co-operative banks is considered as the first Co-operative Bank in India?

Detailed Solution for SBI CBO Mock Test - 3 - Question 57

Anyonya Co-operative Bank Limited (ACBL) located in the city of Vadodara (formerly Baroda) in Gujarat, is the first co-operative bank in India. The Reserve Bank of India ordered the bank to stop most of its operations under Section 35 of the Banking Regulation Act, on 14 September 2007, and ACBL closed in March 2008. ACBL was established in 1889 under the name Anyonya Sahayakari Mandali Co-operative Bank Limited, with a primary objective of providing an alternative to exploitation by moneylenders for Baroda's residents

SBI CBO Mock Test - 3 - Question 58

The UPI makes use of which of the following technologies?

Detailed Solution for SBI CBO Mock Test - 3 - Question 58
  • UPI was launched by NPCI. It makes use of the Immediate Payment Service (IMPS) platform to transfer money between two bank accounts.
  • In this, the user generates an MMID, or Mobile Money Identifier, which is a seven digit random number issued by the bank upon registration.
  • The payee will need to identify the recipient on the basis of the MMID and the virtual address.
SBI CBO Mock Test - 3 - Question 59

What is the borrowing limit for external commercial borrowing under the automatic route?

Detailed Solution for SBI CBO Mock Test - 3 - Question 59
  • All eligible borrowers can raise up to $750 Million per financial year under the automatic route.
  • External Commercial Borrowings is a loan availed by an Indian entity from a nonresident lender with a minimum average maturity.
  • External commercial borrowings facility can be used by all the entities that can receive Foreign Direct Investment.
  • ECB proceeds cannot be utilised for real estate activities, investment in the capital market, equity investment, working capital purposes repayment of Rupee loans.
SBI CBO Mock Test - 3 - Question 60

Which amongst the following are types of NBFCs as defined by RBI?

Detailed Solution for SBI CBO Mock Test - 3 - Question 60

The types of NBFC’s classified by the reserve bank of India are:
(i) Asset Finance Company (AFC)
(ii) Investment Company (IC)
(iii) Loan Company (LC)
(iv) Infrastructure Finance Company (IFC)
(V) Systemically Important Core Investment Company (CIC-ND-SI)
(vi) Infrastructure Debt Fund: Non- Banking Financial Company (IDF-NBFC)
(vii) Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI)
(viii) Non-Banking Financial Company – Factors (NBFC-Factors)
(ix) Mortgage Guarantee Companies (MGC)
(x) NBFC- Non-Operative Financial Holding Company (NOFHC)

SBI CBO Mock Test - 3 - Question 61

Which among the following defines the model in which the banks sell the insurance products of their partner insurance company?

Detailed Solution for SBI CBO Mock Test - 3 - Question 61
  • Bancassurance means selling insurance products through banks. Banks and insurance companies come up in a partnership wherein the bank sells the tied insurance company's insurance products to its clients.
  • Bancassurance arrangement benefits both the firms. On the one hand, the bank earns fee amount (non-interest income) from the insurance company apart from the interest income whereas, on the other hand, the insurance firm increases its market reach and customers. The bank acts as an intermediary, helping the insurance firm reach its target customer in order to increase its market share.
  • Bancassurance has emerged as a very important route for the distribution of insurance products and services. This partnership of Banking and the Insurance sector, if implemented in a well-planned and structured manner, can be beneficial for all the participants i.e., banks, insurers, and the customers.
  • Types of Bancassurance products:
  • Life insurance facilities:
    • Term insurance plans (with accidental and death claims).
    • Endowment plans
    • ULIPs( Unit Linked Insurance Plans)
  • Non-life Insurance facilities:
    • Health insurance
    • Marine insurance( for cargo shipments)
    • Property insurance( against natural calamities)
    • Key Men insurance (Top executives of companies, partnership firms, etc.) 
SBI CBO Mock Test - 3 - Question 62

Where is the headquarters of Asian Development Bank Located?

Detailed Solution for SBI CBO Mock Test - 3 - Question 62
  • The headquarters of the Asian Development Bank is located in Manila, Philippines.
  • ADB was established in 1966. The bank started its functioning on 1st January 1967.
  • Japan and USA is its major donor. Japan-15.67%, USA-15.567%, China-6.4%, India-5.8%.
  • ADB now has 68 members, of which 49 are from Asia and the Pacific and 19 outside.
  • The main aim of ADB is social development by reducing poverty in Asia Pacific with inclusive growth and regional integration.
  • India started availing ADB’s assistance in 1986. Six sector in India where ADB’s presence- Transport, Energy, Finance and public sector, Water & Transport services, Agriculture & Human Development Index.
SBI CBO Mock Test - 3 - Question 63

What are the Disadvantages of the Automated Teller Machine (ATM)?