LIC Assistant Prelims Mock Test - 10 - Insurance Exams MCQ

Banking sector reforms in India were introduced in order to "improve" efficiency in the process of financial intermediation. It was expected that banks would take advantage of the changing operational environment and improve their performance. Towards this end, the Reserve Bank of India initiated a host of measures for the creation of a competitive environment. Deregulation of interest rates on both deposit and lending sides imparted freedom to banks to appropriate price their products and services. To compete effectively with non-banking entities, banks were permitted to undertake newer activities like investment banking, securities trading and insurance business.

This was facilitated through amendments in the "relevant" acts which permitted PSBs to raise equity from the market up to threshold limit and also enabling the entry of new private and foreign banks. This changing face of banking led to an erosion of margins on traditional banking business, promoting banks to search for newer activities to "augment" their free incomes.

At the same time, banks also needed to devote focused attention to operational efficiency in order to contain their transaction costs. Simultaneously with the deregulation measures prudential norms were instituted to strengthen the safety and soundness of the banking system. Recent internal empirical research found that over the period 1992-2003, there has been a discernible improvement in the efficiency of Indian banks. The increasing trend in efficiency has been fairly uniform, irrespective of the ownership pattern. The rate of such improvement has, however, not been sufficiently high. The analysis also "reveals" that PSBs and private sector banks in India did not differe significantly in terms of their efficiency measures. Foreign banks, on the other hand, recorded higher efficiency as compared with their Indian counterparts.
 

Q.The recent internal empirical research conducted by the RBI found that

Banking sector reforms in India were introduced in order to "improve" efficiency in the process of financial intermediation. It was expected that banks would take advantage of the changing operational environment and improve their performance. Towards this end, the Reserve Bank of India initiated a host of measures for the creation of a competitive environment. Deregulation of interest rates on both deposit and lending sides imparted freedom to banks to appropriate price their products and services. To compete effectively with non-banking entities, banks were permitted to undertake newer activities like investment banking, securities trading and insurance business.

This was facilitated through amendments in the "relevant" acts which permitted PSBs to raise equity from the market up to threshold limit and also enabling the entry of new private and foreign banks. This changing face of banking led to an erosion of margins on traditional banking business, promoting banks to search for newer activities to "augment" their free incomes.

At the same time, banks also needed to devote focused attention to operational efficiency in order to contain their transaction costs. Simultaneously with the deregulation measures prudential norms were instituted to strengthen the safety and soundness of the banking system. Recent internal empirical research found that over the period 1992-2003, there has been a discernible improvement in the efficiency of Indian banks. The increasing trend in efficiency has been fairly uniform, irrespective of the ownership pattern. The rate of such improvement has, however, not been sufficiently high. The analysis also "reveals" that PSBs and private sector banks in India did not differe significantly in terms of their efficiency measures. Foreign banks, on the other hand, recorded higher efficiency as compared with their Indian counterparts.

Q.Which of the following statements recognising improvement in efficiency is True in the cotext of the passage?

Banking sector reforms in India were introduced in order to "improve" efficiency in the process of financial intermediation. It was expected that banks would take advantage of the changing operational environment and improve their performance. Towards this end, the Reserve Bank of India initiated a host of measures for the creation of a competitive environment. Deregulation of interest rates on both deposit and lending sides imparted freedom to banks to appropriate price their products and services. To compete effectively with non-banking entities, banks were permitted to undertake newer activities like investment banking, securities trading and insurance business.

This was facilitated through amendments in the "relevant" acts which permitted PSBs to raise equity from the market up to threshold limit and also enabling the entry of new private and foreign banks. This changing face of banking led to an erosion of margins on traditional banking business, promoting banks to search for newer activities to "augment" their free incomes.

At the same time, banks also needed to devote focused attention to operational efficiency in order to contain their transaction costs. Simultaneously with the deregulation measures prudential norms were instituted to strengthen the safety and soundness of the banking system. Recent internal empirical research found that over the period 1992-2003, there has been a discernible improvement in the efficiency of Indian banks. The increasing trend in efficiency has been fairly uniform, irrespective of the ownership pattern. The rate of such improvement has, however, not been sufficiently high. The analysis also "reveals" that PSBs and private sector banks in India did not differe significantly in terms of their efficiency measures. Foreign banks, on the other hand, recorded higher efficiency as compared with their Indian counterparts.
 

Q.Which of the following is/are the measure(s) taken by Reserve Bank of India to create a competitive environment in the Banking sector?
I. Banks were given freedom to take up newer activities.
II. Entry of new private and foreign banks in the field.
III. Amendments in the relevant acts to enable PSBs to raise equity from the market.

Banking sector reforms in India were introduced in order to "improve" efficiency in the process of financial intermediation. It was expected that banks would take advantage of the changing operational environment and improve their performance. Towards this end, the Reserve Bank of India initiated a host of measures for the creation of a competitive environment. Deregulation of interest rates on both deposit and lending sides imparted freedom to banks to appropriate price their products and services. To compete effectively with non-banking entities, banks were permitted to undertake newer activities like investment banking, securities trading and insurance business.

This was facilitated through amendments in the "relevant" acts which permitted PSBs to raise equity from the market up to threshold limit and also enabling the entry of new private and foreign banks. This changing face of banking led to an erosion of margins on traditional banking business, promoting banks to search for newer activities to "augment" their free incomes.

At the same time, banks also needed to devote focused attention to operational efficiency in order to contain their transaction costs. Simultaneously with the deregulation measures prudential norms were instituted to strengthen the safety and soundness of the banking system. Recent internal empirical research found that over the period 1992-2003, there has been a discernible improvement in the efficiency of Indian banks. The increasing trend in efficiency has been fairly uniform, irrespective of the ownership pattern. The rate of such improvement has, however, not been sufficiently high. The analysis also "reveals" that PSBs and private sector banks in India did not differe significantly in terms of their efficiency measures. Foreign banks, on the other hand, recorded higher efficiency as compared with their Indian counterparts.

Q.Choose the word which is most nearly the same in meaning as the word printed in italic as used in the passage.
Relevant

Banking sector reforms in India were introduced in order to "improve" efficiency in the process of financial intermediation. It was expected that banks would take advantage of the changing operational environment and improve their performance. Towards this end, the Reserve Bank of India initiated a host of measures for the creation of a competitive environment. Deregulation of interest rates on both deposit and lending sides imparted freedom to banks to appropriate price their products and services. To compete effectively with non-banking entities, banks were permitted to undertake newer activities like investment banking, securities trading and insurance business.

This was facilitated through amendments in the "relevant" acts which permitted PSBs to raise equity from the market up to threshold limit and also enabling the entry of new private and foreign banks. This changing face of banking led to an erosion of margins on traditional banking business, promoting banks to search for newer activities to "augment" their free incomes.

At the same time, banks also needed to devote focused attention to operational efficiency in order to contain their transaction costs. Simultaneously with the deregulation measures prudential norms were instituted to strengthen the safety and soundness of the banking system. Recent internal empirical research found that over the period 1992-2003, there has been a discernible improvement in the efficiency of Indian banks. The increasing trend in efficiency has been fairly uniform, irrespective of the ownership pattern. The rate of such improvement has, however, not been sufficiently high. The analysis also "reveals" that PSBs and private sector banks in India did not differe significantly in terms of their efficiency measures. Foreign banks, on the other hand, recorded higher efficiency as compared with their Indian counterparts.

Q.Choose the word which is most nearly the same in meaning as the word printed in italic as used in the passage.
Augment

Banking sector reforms in India were introduced in order to "improve" efficiency in the process of financial intermediation. It was expected that banks would take advantage of the changing operational environment and improve their performance. Towards this end, the Reserve Bank of India initiated a host of measures for the creation of a competitive environment. Deregulation of interest rates on both deposit and lending sides imparted freedom to banks to appropriate price their products and services. To compete effectively with non-banking entities, banks were permitted to undertake newer activities like investment banking, securities trading and insurance business.

This was facilitated through amendments in the "relevant" acts which permitted PSBs to raise equity from the market up to threshold limit and also enabling the entry of new private and foreign banks. This changing face of banking led to an erosion of margins on traditional banking business, promoting banks to search for newer activities to "augment" their free incomes.

At the same time, banks also needed to devote focused attention to operational efficiency in order to contain their transaction costs. Simultaneously with the deregulation measures prudential norms were instituted to strengthen the safety and soundness of the banking system. Recent internal empirical research found that over the period 1992-2003, there has been a discernible improvement in the efficiency of Indian banks. The increasing trend in efficiency has been fairly uniform, irrespective of the ownership pattern. The rate of such improvement has, however, not been sufficiently high. The analysis also "reveals" that PSBs and private sector banks in India did not differe significantly in terms of their efficiency measures. Foreign banks, on the other hand, recorded higher efficiency as compared with their Indian counterparts.

Q.Choose the word that is most opposite of the word printed in italic as used in passage.
Improve 

Banking sector reforms in India were introduced in order to "improve" efficiency in the process of financial intermediation. It was expected that banks would take advantage of the changing operational environment and improve their performance. Towards this end, the Reserve Bank of India initiated a host of measures for the creation of a competitive environment. Deregulation of interest rates on both deposit and lending sides imparted freedom to banks to appropriate price their products and services. To compete effectively with non-banking entities, banks were permitted to undertake newer activities like investment banking, securities trading and insurance business.

This was facilitated through amendments in the "relevant" acts which permitted PSBs to raise equity from the market up to threshold limit and also enabling the entry of new private and foreign banks. This changing face of banking led to an erosion of margins on traditional banking business, promoting banks to search for newer activities to "augment" their free incomes.

At the same time, banks also needed to devote focused attention to operational efficiency in order to contain their transaction costs. Simultaneously with the deregulation measures prudential norms were instituted to strengthen the safety and soundness of the banking system. Recent internal empirical research found that over the period 1992-2003, there has been a discernible improvement in the efficiency of Indian banks. The increasing trend in efficiency has been fairly uniform, irrespective of the ownership pattern. The rate of such improvement has, however, not been sufficiently high. The analysis also "reveals" that PSBs and private sector banks in India did not differe significantly in terms of their efficiency measures. Foreign banks, on the other hand, recorded higher efficiency as compared with their Indian counterparts.

Q.Choose the word that is most opposite of the word printed in italic as used in passage.
Reveal  

Directions (Q. 81-85) Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. (Ignore errors of punctuation, if any)

The area was plunged into / darkness mid a wave of / cheering and shouting / slogans like ‘Save The Earth’.

Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. (Ignore errors of punctuation, if any)

The poll contestants approached / the commission complaining that the hoardings / violated the code of conduct / and influenced public perception.

Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. (Ignore errors of punctuation, if any)

The country has / adequate laws but problems / arise when these are not / implemented in letter and spirit. 

Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. (Ignore errors of punctuation, if any)

The management feels that / the employees of the organisation are / non-productive, and do not want / to work hard.

Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. (Ignore errors of punctuation, if any)

As far the issue of land encroachment / in villages is concerned, people will / have to make a start from their villages by / sensitising and educating the villagers this issue. 

Directions (Q. 86-90) Which of the phrases (1), (2), (3) and (4) given below each sentence should replace the word/phrase printed in italic in the sentence to make it grammatically correct? If the sentence is correct as it is given and no correction is required, mark (5) as the answer.

US Secretary of State made it clear that time running out for diplomacy over Iran’s nuclear programme and said that talks aimed at preventing Tehran from acquiring a nuclear weapon would resume in April.

Which of the phrases (1), (2), (3) and (4) given below each sentence should replace the word/phrase printed in italic in the sentence to make it grammatically correct? If the sentence is correct as it is given and no correction is required, mark (5) as the answer.

While the war of the generals rage on, somewhere in small town India, wonderful things are happening, quietly and minus fanfare. 

Which of the phrases (1), (2), (3) and (4) given below each sentence should replace the word/phrase printed in italic in the sentence to make it grammatically correct? If the sentence is correct as it is given and no correction is required, mark (5) as the answer.

According to WWF, the small Island nation of Samoa was the first in switch off its lights for Earth Hour.

Which of the phrases (1), (2), (3) and (4) given below each sentence should replace the word/phrase printed in italic in the sentence to make it grammatically correct? If the sentence is correct as it is given and no correction is required, mark (5) as the answer.

The campaign is significant because not just the youths are directly appealing to the World but because their efforts challenge the chimera of normalcy in the area.

Which of the phrases (1), (2), (3) and (4) given below each sentence should replace the word/phrase printed in italic in the sentence to make it grammatically correct? If the sentence is correct as it is given and no correction is required, mark (5) as the answer.

The doctor’s association has threatened to go on indefinite strike support of their teachers.

Directions (Q. 91-100) In the following passage there are blanks, each of which has been numbered. These numbers are printed below the passage and against each, five words/phrases are suggested, one of which fits the blank appropriately. Find out the appropriate word/phrase in each case.

Greenhouse gases are only (91) of the story when it comes to global warming.Changes to one part of the climate system can (92) additional changes to the way the planet absorbs or reflects energy.These secondary changes are (93) climate feedbacks, and they could more than double the amount of warming caused by carbon dioxide alone. The primary feedbacks are (94) to snow and ice, water vapour, clouds and the carbon cycle. Perhaps the most well (95) feedback comes from melting snow and ice in the Northern Hemisphere. Warming temperatures are already (96) a growing percentage of Arctic sea ice, exposing dark ocean water during the (97) sunlight of summer. Snow cover on land is also (98) in many areas. In the (99) of snow and ice, these areas go from having bright, sunlight reflecting surfaces that cool the planet to having dark, sunlight absorbing surfaces that (100) more energy into the Earth system and cause more warming. 

Greenhouse gases are only (91) of the story when it comes to global warming.Changes to one part of the climate system can (92) additional changes to the way the planet absorbs or reflects energy.These secondary changes are (93) climate feedbacks, and they could more than double the amount of warming caused by carbon dioxide alone. The primary feedbacks are (94) to snow and ice, water vapour, clouds and the carbon cycle. Perhaps the most well (95) feedback comes from melting snow and ice in the Northern Hemisphere. Warming temperatures are already (96) a growing percentage of Arctic sea ice, exposing dark ocean water during the (97) sunlight of summer. Snow cover on land is also (98) in many areas. In the (99) of snow and ice, these areas go from having bright, sunlight reflecting surfaces that cool the planet to having dark, sunlight absorbing surfaces that (100) more energy into the Earth system and cause more warming. 

Greenhouse gases are only (91) of the story when it comes to global warming.Changes to one part of the climate system can (92) additional changes to the way the planet absorbs or reflects energy.These secondary changes are (93) climate feedbacks, and they could more than double the amount of warming caused by carbon dioxide alone. The primary feedbacks are (94) to snow and ice, water vapour, clouds and the carbon cycle. Perhaps the most well (95) feedback comes from melting snow and ice in the Northern Hemisphere. Warming temperatures are already (96) a growing percentage of Arctic sea ice, exposing dark ocean water during the (97) sunlight of summer. Snow cover on land is also (98) in many areas. In the (99) of snow and ice, these areas go from having bright, sunlight reflecting surfaces that cool the planet to having dark, sunlight absorbing surfaces that (100) more energy into the Earth system and cause more warming. 

Greenhouse gases are only (91) of the story when it comes to global warming.Changes to one part of the climate system can (92) additional changes to the way the planet absorbs or reflects energy.These secondary changes are (93) climate feedbacks, and they could more than double the amount of warming caused by carbon dioxide alone. The primary feedbacks are (94) to snow and ice, water vapour, clouds and the carbon cycle. Perhaps the most well (95) feedback comes from melting snow and ice in the Northern Hemisphere. Warming temperatures are already (96) a growing percentage of Arctic sea ice, exposing dark ocean water during the (97) sunlight of summer. Snow cover on land is also (98) in many areas. In the (99) of snow and ice, these areas go from having bright, sunlight reflecting surfaces that cool the planet to having dark, sunlight absorbing surfaces that (100) more energy into the Earth system and cause more warming. 

Greenhouse gases are only (91) of the story when it comes to global warming.Changes to one part of the climate system can (92) additional changes to the way the planet absorbs or reflects energy.These secondary changes are (93) climate feedbacks, and they could more than double the amount of warming caused by carbon dioxide alone. The primary feedbacks are (94) to snow and ice, water vapour, clouds and the carbon cycle. Perhaps the most well (95) feedback comes from melting snow and ice in the Northern Hemisphere. Warming temperatures are already (96) a growing percentage of Arctic sea ice, exposing dark ocean water during the (97) sunlight of summer. Snow cover on land is also (98) in many areas. In the (99) of snow and ice, these areas go from having bright, sunlight reflecting surfaces that cool the planet to having dark, sunlight absorbing surfaces that (100) more energy into the Earth system and cause more warming. 

Greenhouse gases are only (91) of the story when it comes to global warming.Changes to one part of the climate system can (92) additional changes to the way the planet absorbs or reflects energy.These secondary changes are (93) climate feedbacks, and they could more than double the amount of warming caused by carbon dioxide alone. The primary feedbacks are (94) to snow and ice, water vapour, clouds and the carbon cycle. Perhaps the most well (95) feedback comes from melting snow and ice in the Northern Hemisphere. Warming temperatures are already (96) a growing percentage of Arctic sea ice, exposing dark ocean water during the (97) sunlight of summer. Snow cover on land is also (98) in many areas. In the (99) of snow and ice, these areas go from having bright, sunlight reflecting surfaces that cool the planet to having dark, sunlight absorbing surfaces that (100) more energy into the Earth system and cause more warming. 

Greenhouse gases are only (91) of the story when it comes to global warming.Changes to one part of the climate system can (92) additional changes to the way the planet absorbs or reflects energy.These secondary changes are (93) climate feedbacks, and they could more than double the amount of warming caused by carbon dioxide alone. The primary feedbacks are (94) to snow and ice, water vapour, clouds and the carbon cycle. Perhaps the most well (95) feedback comes from melting snow and ice in the Northern Hemisphere. Warming temperatures are already (96) a growing percentage of Arctic sea ice, exposing dark ocean water during the (97) sunlight of summer. Snow cover on land is also (98) in many areas. In the (99) of snow and ice, these areas go from having bright, sunlight reflecting surfaces that cool the planet to having dark, sunlight absorbing surfaces that (100) more energy into the Earth system and cause more warming. 

Greenhouse gases are only (91) of the story when it comes to global warming.Changes to one part of the climate system can (92) additional changes to the way the planet absorbs or reflects energy.These secondary changes are (93) climate feedbacks, and they could more than double the amount of warming caused by carbon dioxide alone. The primary feedbacks are (94) to snow and ice, water vapour, clouds and the carbon cycle. Perhaps the most well (95) feedback comes from melting snow and ice in the Northern Hemisphere. Warming temperatures are already (96) a growing percentage of Arctic sea ice, exposing dark ocean water during the (97) sunlight of summer. Snow cover on land is also (98) in many areas. In the (99) of snow and ice, these areas go from having bright, sunlight reflecting surfaces that cool the planet to having dark, sunlight absorbing surfaces that (100) more energy into the Earth system and cause more warming. 

Greenhouse gases are only (91) of the story when it comes to global warming.Changes to one part of the climate system can (92) additional changes to the way the planet absorbs or reflects energy.These secondary changes are (93) climate feedbacks, and they could more than double the amount of warming caused by carbon dioxide alone. The primary feedbacks are (94) to snow and ice, water vapour, clouds and the carbon cycle. Perhaps the most well (95) feedback comes from melting snow and ice in the Northern Hemisphere. Warming temperatures are already (96) a growing percentage of Arctic sea ice, exposing dark ocean water during the (97) sunlight of summer. Snow cover on land is also (98) in many areas. In the (99) of snow and ice, these areas go from having bright, sunlight reflecting surfaces that cool the planet to having dark, sunlight absorbing surfaces that (100) more energy into the Earth system and cause more warming. 

Greenhouse gases are only (91) of the story when it comes to global warming.Changes to one part of the climate system can (92) additional changes to the way the planet absorbs or reflects energy.These secondary changes are (93) climate feedbacks, and they could more than double the amount of warming caused by carbon dioxide alone.The primary feedbacks are (94) to snow and ice, water vapour, clouds and the carbon cycle. Perhaps the most well (95) feedback comes from melting snow and ice in the Northern Hemisphere. Warming temperatures are already (96) a growing percentage of Arctic sea ice, exposing dark ocean water during the (97) sunlight of summer. Snow cover on land is also (98) in many areas. In the (99) of snow and ice, these areas go from having bright, sunlight reflecting surfaces that cool the planet to having dark, sunlight absorbing surfaces that (100) more energy into the Earth system and cause more warming.  

Choose from the given option for the (100) blank.