IBPS PO Prelims English Language Mini Mock Test 23- Miscellaneous

Attempt Daily English Mocks at Adda247 app to crack upcoming IBPS PO Pre 2020. This practice set contains questions based on Sentence Rearrangement, Reading Comprehension and Double Fillers. Keep practising with Bankersadda.

Directions (1-5): Read the passage carefully and answer the questions given below it. Certain carefully and answer the questions given below it. Certain words/phrases have been given in bold to help you locate them while answering some of the questions.

The objective of monetary policy varies in different counties. In the UK, the objective of monetary policy is to deliver price stability – implying low inflation – and, subject to that, to support the government’s economic objectives including those for growth and employment. Price stability in the UK is defined by the government’s inflation target of two per cent.

About Course:

"Did you Know? In this pack you will get All new content we launch in the next 3 months"
 

This is the most recommended and NRA-CET ready Pack!
 

Use Code 'DREAM' to avail at best price today

This package Includes IBPS PO Study Material -  Subscribe Now

About Bank Mahapack
If you are preparing for more than 1 Banking & Insurance exams then this is the pack we recommend you buy.

It is most cost effective and you get access to 100% digital content for Bank & Insurance exams on Adda247.

Banking & Insurance Exams Covered in this Pack

Additionally, you can crack any private bank job exam with content in this pack.

 

Bank & Insurance Mahapack Highlights 

  • Structured course content
  • Recorded classes available if you miss any live class
  • Previous Years’ Papers of all upcoming exams.
  • Full Length Mocks based on the latest pattern with detailed solutions (video solutions for certain topics)
  • Topic level knowledge tests
  • Strategy sessions, time management & Preparation tips from the experts

 

Validity: 3 Months

Note: This package is not a part of Double Validity Offer

Bank Maha Pack
  1. Unlimited Live Classes & Recorded Video Courses
  2. Unlimited Tests and eBooks
  3. 1 Lakh+ Selections
Validity
  1. 24 Months
  2. 1 Month
  3. 3 Months
6199 516/month
BUY NOW

In the US, monetary policy has two basic goals: to promote maximum sustainable output and employment, and to promote stable prices.

In India, according to the Reserve Bank of India (RBI) Act, 1934, the objectives of the Reserve Bank are “…to regulate the issue of Bank notes and the keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage.” The formulation, framework and institutional architecture of monetary policy in India have evolved over time around these objectives – maintaining price stability; ensuring adequate flow of credit to sustain growth; and securing financial stability.

Modernising monetary policy framework should not be confused with another approach popularly called inflation targeting (IT) just because over the years, from 1990 to 2008, about two dozen countries adopted it, prominent amongst them being Australia, Canada, New Zealand, and UK. IT assumes that price stability is explicitly the mandate and a quantitative target for inflation is publicly announced.

Overall, monetary policy is based on a wide set of information that includes an inflation forecast; transparency in operations; and accountability mechanism. As can be easily noted, the IT approach mount blinkers on the central bank and absolves it from other responsibilities: IT was in disrepute after the onset of the great recession in 2008. India resisted adopting IT all these years as it binds the central banker, and after minting its own Multiple Indicator Approach in 1997, demonstrated its efficiency by following it meticulously to stave off the Southeast Asian Crisis as well as the great recession.

The monetary policy framework can be modernised by a number of initiatives which are successfully followed in other countries. In the UK, every months, the agent’s Summary compiled by the Bank of England’s (BoE’s) 12 agents, following discussions with 700 businesses, is published to assist the monetary policy makers in conjunction with intelligence from other sources. Similarly, in the US, the Beige Book, published eight times every year, is based on anecdotal information on current economic conditions collected by each of the Federal Reserve Banks in their respective districts through reports and interviews with key business contacts, economists, market experts, and other sources. The Beige Book is an important source of real-time market intelligence for the Federal Open Market Committee (FOMC).

Q1. Which of the following is not one of the objectives of the RBI? Answer in the context of the passage.

(a) To operate the credit system and currency of India

(b) To secure financial stability in the country.

(c) To regulate the issue of banknotes and keep the reserves

(d) To ensure adequate fund outflow

(e) None of these

Click here to Buy IBPS PO 2020 Study Material

Q2. Which of the following is/are the objectives of monetary policy in the UK? Answer in the context of the passage.

(A) To attract FIIs and set up new industries

(B) To ensure price stability and maintain low inflation

(C) To support the government’s economic objectives for growth and employment

(a) Only (A) and (B)

(b) Only (B) and (C)

(c) Only (A) and (C)

(d) Only (B)

(e) All (A), (B) and (C)

Q3. Find the incorrect statement in the context of the given passage.

(A) The goal of the monetary policy in the USA is to maintain price stability and generate employment.

(B) Price stability in the UK is defined by the government’s inflation target of 2%.

(C) The Beige Book provides input to the Federal Reserve Banks.

(a) Only (A) and (B)

(b) Only (B) and (C)

(c) Only (A) and (C)

(d) Only (C)

(e) All (A), (B) and (C)

Q4. What initiative(s) is/are followed in different countries for the modernization of the monetary policy framework?

(A) Agent’s summary compiled by the Bank of England’s 12 agents is published to assist the monetary policy makers.

(B) In India’ the Reserve Bank collects information from PSBs for the modernization of the monetary policy framework.

(C) In the US, the Beige Book, based on anecdotal information on current economic conditions collected by Federal Reserve Banks, is published eight times every year.

(a) Only (A)

(b) Only (B)

(c) Only (C)

(d) Only (A) and (C)

(e) Only (B) and (C)

Q5. Which of the following factors does not help frame monetary policy? Answer in the context of the passage.

(a) Transparency in operations

(b) Accountability mechanism

(c) Foreign funds inflow

(d) Inflation forecast

(e) None of these

Practice for IBPS PO 2020 Exam with the latest study material:

Directions (6 — 10) : Rearrange the following seven sentences (a), (b), (c), (d), (e), (F) and (G) in the proper sequence to form a meaningful paragraph; then answer the questions given below them.

(A) But seriously, how much would you pay to know what thoughts are swimming around in someone else’s head ?

(B) In most fictional movies thus, the idea of reading minds of seeing the private intentions of another, and the possibility of intervening in those plans — has always been highly attractive

(C) Such fantastical questions have long been the bread and butter of fiction.

(D) Today, more than four centuries since the phrase, “A penny for your thoughts ?”, was first recorded, inflationary accounting makes that ancient penny worth more than $40.

(E) The going rate for a “thought” – a probe into the thinking of another – was once quite a bargain.

(F) And if you could really know their truthfulness how much more would you pay?

(G) Even with the sliding value of the dollar, this still seems quite a bargin.

Q6. Which of the following should be the SECOND sentence after rearrangement?
(a) F

(b) D

(c) C

(d) G

(e) A

Q7. Which of the following should be the FOURTH sentence after rearrangement?
(a) A

(b) B

(c) G

(d) D

(e) F

Q8. Which of the following be the SIXTH sentence after rearrangement?
(a) E

(b) G

(c) C

(d) B

(e) A

Practice More Questions of English for Competitive Exams:

English for Competitive Exams
IBPS PO Prelims English Language Mini Mock Test 22- Miscellaneous
English Quiz for RBI Assistant Mains 2020, 8th September- Practice Set
English Grammar- Complete Guide From Basic to Advanced English grammar

Q9. Which of the following be the SEVENTH (LAST) sentence after rearrangement?
(a) A

(b) B

(c) F

(d) D

(e) E

Q10. Which of the following should be the FIRST sentence after rearrangement?
(a) A

(b) B

(c) C

(d) D

(e) E

Directions (11-15): Each questions below has two blanks, each blank indicating that something has been omitted. Choose the set of words for each blank that best fits the meaning of the sentence as a whole.

Q11. e-Commerce has provided the best platform for boosting the growth of small industries and with the right ______________ by Make in India, it could _______________ the development of small and medium enterprises.

(a) approach, hold

(b) energy, keep

(c) incentive, do

(d) direction, mould

(e) impetus, transform

Q12. Risk capital investments in India in the first half of this year have _____________ the money inflow in all of 2014, _____________ the stage for another record funding year.

(a) surpassed, setting

(b) exceeded, made

 (c) excelled, performed

(d) failed, erected

(e) lost, created

Q13. Journalists ______________ with the Press Information Bureau (PIB), a status that allows them easy ______________ to many government offices, will need to get their police verification done every year.

(a) certified, course

(b) accredited, access

(c) authorised, entrance

(d) licensed, door

(e) recognised, approach

Q14. Delhi Police have _____________ concerns ___________ the security aspect.

(a) lifted, on

(b) built, against

(c) raised, over

(d) elevated, about

(e) reduced, for

Get the top selling video course and books for IBPS PO 2020 Preparation:

Q15. The government of Gujarat is ________________ on _____________ chapters on the founder of the Reliance group, Dhirubhai Ambani, in its school textbooks.

(a) anxious, offering

(b) ardent, preceding

(c) intense, recommending

(d) keen, introducing

(e) apathetic, proposing

Solutions

S1. Ans.(d)

Sol. The objectives of RBI are: “to regulate the issue of Bank notes and the keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage.” So, (d) is the option which is not the objective of RBI.

S2. Ans.(b)

Sol. The objectives of monetary policy in the UK are “to deliver price stability – implying low inflation – and, subject to that, to support the government’s economic objectives including those for growth and employment.” Hence, statements (B) and (C) are the correct option.

S3. Ans.(d)

Sol. Statement (C) is the incorrect option because as per the passage Federal Reserve Banks provide input to the Beige Book.

S4. Ans.(c)

Sol. The initiative followed for the modernization is: “In US, the Beige Book, published eight times every year, is based on anecdotal information on current economic conditions collected by each of the Federal Reserve Banks in their respective districts through reports and interviews with key business contacts, economists, market experts, and other sources.”

S5. Ans.(e)

Sol. The passage says: “Monetary policy is based on a wide set of information that includes an inflation forecast; transparency in operations; and accountability mechanism.” So, all the options are correct. Hence, (e) will be the answer.

S6. Ans.(b)

Sol. The correct sequence is EDGAFCB.

S7. Ans.(a)

Sol. The correct sequence is EDGAFCB.

S8. Ans.(c)

Sol. The correct sequence is EDGAFCB.

S9. Ans.(b)

Sol. The correct sequence is EDGAFCB.

S10. Ans.(e)

Sol. The correct sequence is EDGAFCB.

S11. Ans.(e)

Sol. ‘impetus, transform’ is the correct use.

Impetus– something that makes a process or activity happen or happen more quickly.

Transform-make a marked change in the form, nature, or appearance of.

S12. Ans.(a)

Sol. ‘surpassed, setting’ is the correct use.

Surpassed- to exceed.

S13. Ans.(b)

Sol. ‘accredited, access’ is the correct use.

Accredited- give credit to (someone) for something.

Access- the means or opportunity to approach or enter a place.

S14. Ans.(c)

Sol. ‘raised, over’ is the correct use.

S15. Ans.(d)

Sol. keen, introducing’ is the correct use.

Keen– very interested.

Download PDF of this English Quiz for IBPS PO 2020

Visit here to discuss all your queries related to Government Exams

Practice with Crash Course and Online Test Series for IBPS PO Prelims 2020:

Register Here for Bank Exams 2020 Preparation

If you are preparing for IBPS PO Prelims Exam, then you can also check out a video for English Language below: