SBI Clerk | NABARD | RRB | SSC || English Language Quiz: 11

SBI Clerk | NABARD | RRB | SSC || English Language Quiz: 11

Dear aspirants, In this post we are providing a set of English  Quiz  for Exams like IBPS PO, IBPS Clerk, IBPS RRB, SBI PO, RBI, NICL, SBI SO, LIC, IBPS Exams, SBI Exams and other competitive exams.


Q.1-10. Read the following passage carefully and answer the questions given below it. Certain words are given in bold to help you locate them while answering some of the questions.
Does India need a new law for consumer protection in finance? One lesson from the global financial crisis is that unsuitable housing loans sold to poor, uneducated consumers could
pull down the world’s financial system. Very few people would have believed that sub-prime loans, which constituted a very small part of housing loans and that too only in one country, could trigger a crisis that led to banks failing, money markets crashing, governments falling, countries going bankrupt, millions becoming unemployed and the GDP of many nations going down. This is not to argue that the sale of unsuitable housing loans was the only regulatory failure that led to the global crisis, but an important lesson is that a regulatory system that does not prevent the sale of unsuitable financial products to consumers could be putting the financial system and the entire economy at risk. Not only is consumer protection an important end in itself, if it lies at the heart of financial regulation, bad practices that result in the failure of firms and markets can be checked.
Today in India, there is very little reference to consumer protection in primary legislation in the financial sector. Not surprisingly, none of the financial laws on which regulation is based, and which were written long before there was clear thinking about the need for consumer protection, provides consumers with basic rights or protections. Nor do they give regulators a specific set of relevant powers to pursue the objective of consumer protection. It is not treated as a core pillar of financial regulation. Many countries are rewriting laws to bring this perspective into financial sector regulation.
Some regulators have issued regulations based on the general rule-making powers given to them in their respective laws. For example, SEBI issued Disclosure and Investor Protection Guidelines in 2000. Various guidelines have been issued by the RBI and IRDA to protect consumers in banking and insurance. However, consumer protection regulation remains weak and varies across different sectors and services.
Q.1. Why did SEBI issue Disclosure and Investor Protection Guidelines in 2000?
(1) To make it mandatory for consumers to disclose their income and investments
(2) To spread awareness about profitable investment avenues
(3) To ensure consumer protection in the financial sector
(4) To make financial services accessible to the poor
(5) All of the above were the reasons
Q.2. Which of the following body is responsible for protecting consumer interests in the field of insurance?
A. RBI B. SEBI C. IRDA 
(1) Only A
(2) Only C
(3) Only B and C
(4) Only A and C
(5) All of the above
 
Q.3. Why in Indian financial laws,there is little emphasis on consumer protection?
(1) The companies functioning in the financial market do not let laws be made to check their operations.
(2) People who made laws were not aware of the need for consumer protection
(3) One should have absolute freedom to take financial decisions and the constitution does not intervene in that
(4) Consumers are educated enough to protect their own interests
(5) Not mentioned in the passage
Q.4. Which of the following is TRUE, according to the author?
(1) RBI issues guidelines to protect consumers investing in stock markets
(2) Sub-prime loans constituted a huge part of housing loans
(3) Many countries are rewriting laws to bring consumer protection into financial sector regulation.
(4) Sale of unsuitable education loans was the regulatory failure that caused the global crisis
(5) All of the above
Q.5. Which of the following was not a consequence of global financial crisis?
(1) Many countries went bankrupt
(2) Millions of people lost their employment
(3) Governments of many countries failed
(4) GDP of many countries reduced
(5) All of the above were the consequences
Q.6. The author has discussed all the points in the passage except-
(1) Many countries have felt the need for consumer protection
(2) Guidelines issued by SEBI to protect consumers investing in stock markets
(3) Prime reason behind the global financial crisis
(4) Sale of financial products and safety of a nation’s economy are not linked
(5) In India, regulators do not have special powers to ensure consumer protection
Q.7-8.Choose the word which is most nearly the SAME in meaning as the word printed in bold as used in the passage.
Q.7. Perspective
(1) Aspect
(2) Relation
(3) Philosophy
(4) Method
(5) Attitude
 
Q.8. Treated
(1) Advised
(2) Interrogated
(3) Criticized
(4) Considered
(5) Rectified
Q.9-10. Choose the word which is most nearly the OPPOSITE in meaning as the word printed in bold as used in the passage.
Q.9. Led to
(1) Produced
(2) Required
(3) Availed
(4) Prevented
(5) Accelerated
 
Q.10. Checked
(1) Stifled
2) Modified
(3) Delayed
(4) Verified
(5) Allowed

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