Search your Topic HERE....

October 14, 2016

Reading Comprehension Questions asked in IBPS PO V Preliminary Exam (10th October 2015 - 1st Shift)

Leave a Comment

sponsored links

IBPS PO Preliminary Exam Questions

Friends, here is the Reading Comprehension section of IBPS PO Preliminary Exam  held on 10th October 2015 (1st Shift). Happy Reading :)

Directions : Read the following passage 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. 

"I promise to open a bank ac-count for a British citizen in just two minutes", with a background in IT, banking and asset management, this young entrepreneur is submitting plans to the regulators to start a new bank called Lintel; the two-minute pledge is one of his selling points. Young Entrepreneurs can do better than the existing banks, and is putting plenty of his own money where his mouth is, as part of the £5million ($7.5m) start-up cost.

Since April 2013 three new British banks have appeared and three outfits have taken over old  licences. A person, who doles out banking licences at the Prudential Regualtion Authority (PRA), part of the Bank of England, says people are now applying to open banks in "unprecedented numbers". Four applicants are likely to start operating this year, he says, with a further four or so probably coming to market next year. At least as far as the consumer is concerned, banking could be on the verge of quite a shake-up. Since March 2013 the process to apply for a license has been streamlined. The PRA claims that a new bank can be up and running just six months after final authorisation. The capital requirements for the start-ups are lower than they used to be. And many of the new entrants are acting like classic entrepreneurs. They work out how the existing banks are failing customers, then look for niches, whether in products, customers or technology. All are encouraged by the growing willingness of consumers to switch from one bank to another, stimulated in part by regulations designed to make this easier. The niche will be about immigrants, both students on short-stay visas and longer-term economic migrants. They are treat-ed "extremely badly" by existing banks, he claims. He will offer a full range of products, in many languages, digitally and also at a few branches, to be located at the most convenient places for his tar-get customers — such as the rail-way stations in London that serve Heathrow and Gatwick airports. Atom Bank's niche, by contrast, is technological. It will be the first British bank to be digital-only, with all transactions done through smartphones and tablets, via an app. This ought to lower the bank's overheads. Set up by Mark Mullen, a former head of branch-less bank First Direct, and Anthony Thomson, co-founder of another of the new wave of "challenger" banks, Metro, Atom Bank should start operating in the second half of this year. Metro Bank itself, which started in 2010, is following a quite different road: it is opening new branches almost as quickly as traditional banks like Lloyds, RBS, Barclays and HSBC are closing them.


The banking sector is currently the subject of a review by the Competition and Markets Authority, an official watchdog. Most of the new entrants would agree with the authority's criticism that some features of the current banking market "prevent, restrict or distort competition", in relation to both personal customers and small businesses. The entrepreneurs also claim that their innovative new products and technologies will help to address some of those criticisms. Mr. Mullen, for in-stance, attacks what he calls the opaque pricing of many current accounts: a selling point of Atom Bank, he claims, is that all its pricing will be utterly transparent. "We will drive change," he says.
  1. Which of the following is/are correct in the context of the given passage ?
      • I. The young entrepreneur is to start a new bank called Uni-tel. 
      • II. The start-up cost of a new bank is set at £5 million. 
      • III. The young entrepreneur promises to open a bank account for a British citizen in just two minutes. 
    1. Only I and II 
    2. Only II and III
    3. Only I and III 
    4. Only II 
    5. All three I, II and III 
  2. What should be the most appropriate title of the given passage ?
    1. State of existing banks in the United Kingdom
    2. Prospective willingness to open new banks in the United Kingdom 
    3. Economic slowdown and existing banks 
    4. Hurdles in opening a new bank in London 
    5. None of these.
  3. Which of the following statements is not correct in the context of the given passage ?
    1. Since April 2013, three new British banks have come to light.
    2. The capital requirements for the start-ups are higher than they used to be. 
    3. All new entrepreneurs are encouraged by the growing willingness of consumers to change banks 
    4. A new bank can be up and running just six months after authorisation.
    5. None of these 
  4. New entrants are looking for niches whether in products, customers or technology. Which of the following is not correct in this regard ? 
    1. They are thinking about immigrants as they are treated extremely badly by existing banks.
    2. Offering a full range of products in many languages and digitally
    3. Some branches to be located at the most convenient places for the target customers 
    4. Opening bank accounts without proper identification 
    5. None of these
  5. Select the correct staterooms,' in the context of the Own passage. 
      • I. Atom Bank's niche is technological. 
      • II. Metro Bank was started in 2010.
      • III. Atom Bank was set up by Mark Mullen.
    1. Only I 
    2. Only III 
    3. Only I and III 
    4. Only II and III 
    5. All three I, II and III 
  6. Select the incorrect statement in the context of the given passage. 
    1. Anthony Thomson is co-founder of Metro Bank. 
    2. All the pricing of Atom Bank will be utterly trans-parent. 
    3. The Banking sector is currently the subject of re-view. 
    4. Barclays, HSBC and RBS are new entrants in banking sector. 
    5. None of these 
Directions (1 - 2) : Choose the word/group of words which is most similar in meaning to the word / group of words printed in bold as used in the passage. 
  1. Dole out
    1. give out
    2. leave 
    3. borrow
    4. cancel
    5. accept 
  2. Appear
    1. seem 
    2. arrive 
    3. begin to exist 
    4. append 
    5. appease 
Directions (1-2) : Choose the word/group of words which is most opposite in meaning to the word / group of words printed in bold as used in the pas-sage. 
  1. Classic 
    1. accepted 
    2. traditional 
    3. modern 
    4. elegant 
    5. musical 
  2. Restrict 
    1. impede 
    2. limit 
    3. control 
    4. allow
    5. restrain
sponsored links

0 Responses:

Post a Comment