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Latest Pattern English for IBPS PO/Clerk/Indian Bank(September 15, 2018)

2 months ago 0 comments

Dear Aspirants,
English Section is very important to score better in Banking and other competitive exams. Now a day, the pattern of questions asked in this section are very lengthy and thus, time-consuming. But once dealt with proper strategy and accuracy, this section can get you the maximum marks in the examination. Here is another set of Questions to improve your speed and practice. Make most of it.

Directions (Q. 1-5): Read the following passage divided into five paragraphs carefully and answer the questions that follow:

Paragraph 1: The two biggest global threats to markets at the moment are Venezuela and North Korea. These are quite dangerous places where a political earthquake, or something more serious, may occur. Preparation is the best defence, and I suggest taking a defensive position. Starting with Venezuela, holding and trading these bonds pose more risk than just a credit decision. The Trump administration has just barred trading in new debt issued by the Venezuelan government and its state oil company – Petroleos de Venezuela SA (PDVSA) – in US markets, and blocked dealing in some existing bonds owned by the country’s public sector to further clamp down on President Nicolas Maduro’s regime.

Paragraph 2: Nobody knows what else the Trump administration may do, but the possibility of what they might do is what should concern markets. The Wall Street Journal reports that Cantor Fitzgerald will no longer trade in the securities of Venezuela or PDVSA. That’s the right decision. If the US government ramps up the pressure and forbids the trading of existing bonds, then a buyer or seller or the investment bank that did the transaction could get caught between the trade date and the settlement date and a messy legal battle could occur. The risk is very real now, and the reward is de minimis.

Paragraph 3: The situation with North Korea is a far more dangerous affair. It’s not just a matter of political risk or market risk, but of global warfare. I know, it is hard to imagine that the provocateur-in-residence in North Korea will actually do something that stupid, but markets should be fearful that he might. Kim Jong-un said that the test-firing of a missile over Japan was a “meaningful prelude” to containing the American territory of Guam, adding he will continue to watch the response of the US before deciding on further action.

Paragraph 4: What has become obvious to me is that both the equity and bond markets are blurring in and out of focus on the possibility that North Korea’s leader will inadvertently, or purposefully, step over the line. It is hard for any rational person to imagine that Kim would actually take things too far, but he is not any sort of rational person. The risk is real, and the consequences almost unthinkable. Buying far out of the money puts may be one way to hedge while the addition of “safe haven” assets may be another.

Paragraph 5: The other thing markets need to keep a close eye on is the fallout from Hurricane Harvey, which is now a tropical storm and is making landfall a second time in southwestern Louisiana. Gasoline futures are surging while crude oil prices are dropping. The move in the gasoline markets is likely to be temporary with a relief sell-off once Harvey fades. The downward slope in crude, however, is likely to continue.

1. What is the opposite of the phrase “clamp down” as mentioned in paragraph 1?
I. The Trump government has taken a defensive position against investing in some existing bonds of Venezuelan government.
II. In order to add to its financial credit the Trump administration is loosening up its control over Venezuelan government.
III. The US market has taken harsh preventive measures to stop financial trading with Venezuela.

        1) Only I is correct
2) Only II is correct
3) Only III is correct
4) Only I and II
5) Only I and III

2. What is the meaning of the phrase ‘reward is de minimis’ as used in paragraph 2?
I. The output of the messy legal battle between Trump administration and Venezuelan government is uncertain.
II. The risk that an investment bank would undertake seems to be too high for trifle things.
III. The Trump administration is adamant to take the financial risk, and the reward is inevitable.

        1) Only I is correct
2) Only III is correct
3) Both I and III are correct
4) Both II and III are correct
5) Only II is correct

3. What does the phrase ‘meaningful prelude’ suggest as used in paragraph 3?
1) Start of a reign of terror
2) Beginning of an era of downsizing US military control over the South East Asian territory
3) Introductory military performance of North Korea
4) Embarkment upon containing of American territory of Guam by the North Korean troops
5) None of the above

4. “Bond markets are blurring in and out of focus.” Why?
I. Because North Korean leaders are expected to take decision of investing heavily in equity and bond markets.
II. There is a high possibility that North Korea would recklessly step over the line.
III. The risk North Korea is taking may have terrible consequences
1) Only III
2) Both I and II
3) Both II and III
4) All the above
5) Only I

5. What is the fallout from Hurricane Harvey?
I. Soaring prices of gasoline futures
II. Falling prices of crude oil
III. Hike in price of shale oil
1) Only I
2) Only III
3) Both II and III
4) Both I and II
5) None of the above

Answers:

  1. 2
  2. 5
  3. 4
  4. 3
  5. 4

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