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SBI PO Prelims English Language Quiz
English Language is a part of almost all major competitive exams in the country and is perhaps the most scoring section also. Aspirants who regularly practice questions have a good chance of scoring well in the English Language Section. So here we are providing you with the SBI PO Prelims English Language Quiz to help you prepare better. This SBI PO Prelims English Language Quiz includes all of the most recent pattern- based questions, as well as Previous Year Questions. This SBI PO Prelims English Language Quiz is available to you at no cost. Candidates will be provided with a detailed explanation of each question in this SBI PO Prelims English Language Quiz. Candidates must practice this SBI PO Prelims English Language Quiz to achieve a good score in the Reasoning Ability Section.
Directions (1-5): Read the following passage divided into number of paragraphs carefully and answer the questions that follow it. Certain words are given in bold to help you locate them while answering some of the questions.
Paragraph 1: It’s quite common to hear people say they have bought an endowment insurance plan or they own a money-back policy. Both are bundled life insurance policies that offer twin benefits of savings and life insurance, and both qualify for tax deductions. But there is one big difference between the two, and that is in the way the maturity benefits are structured. Read on to know the difference.
Paragraph 2: You have an endowment policy when the maturity benefit is made available to you after a specified term; this is usually the policy term. So, if you buy a life insurance endowment policy for 15 years, you are entitled to the investment benefit at the end of 15 years. This is the basic premise of an endowment plan. Even a unit-linked insurance plan (Ulip) qualifies as an endowment policy because the premiums that you pay every year get invested every year in your choice of funds, after all costs have been deducted, and at the policy term, the fund value is made available to you as the maturity benefit.
Paragraph 3: In traditional plans too, an endowment policy can be offered as a participating plan or as a non-participating plan. Under a participating plan, the sum assured that you choose is usually the guaranteed benefit that is payable either on death or on maturity. Over and above this, every year you get an additional benefit in the form of bonuses. These bonuses come from the surplus generated by the participating fund and are declared as a percentage of the sum assured at the end of every year. Once declared, the bonuses are guaranteed to be paid on maturity or on death. As a non-participating plan, an endowment policy will specify the maturity benefit, since non-participating plans offer guaranteed investment benefits. For example, an insurance policy can specify the maturity benefit as a percentage of the total premiums paid in the policy as maturity benefit.
Paragraph 4: While an endowment policy will pay the investment benefit at the end of the policy term, a money-back policy staggers the investment benefit throughout the policy term at regular intervals. A money-back structure is typically offered by traditional policies. So as a participating plan, that pegs the investment benefit to the performance of underlying participating fund and distributes it in the form of yearly bonuses, a money-back plan usually staggers the payment of sum assured at regular intervals during the policy term and on maturity pays the sum of bonuses.
Paragraph 5: Money backs are quite popular in the non-participating structure as well. Here, the payouts could be defined as a percentage of the sum assured or the premiums. Given that a money-back plan offers investment benefits early on, the rate of return on these plans is a tad lower compared to endowment policies.
- How, according to the passage, endowment insurance plan is different from money-back policy?
(I)Money-back policy generates slightly a lower rate of return as compared to endowment policy.
(II)Money-back policy, unlike endowment insurance plan, pays the investment benefit throughout the policy term at regular intervals.
(III)The policy term is fixed in the case of Money-back policy, unlike endowment policy.
(a)Only (I) is correct
(b)Only (III) is correct
(c)Both (I) and (II) are correct
(d)Both (II) and (III) are correct
(e)All are correct
- According to the passage, endowment insurance plan works on which basic assumption?
(I)In the endowment policy, the maturity benefit is made available only after the policy term.
(II)In the endowment policy, the bonuses are guaranteed to be paid on maturity or on death.
(III)The endowment policy specifies the maturity benefit as a percentage of the total premiums paid.
(a)Only (I) is correct
(b)Only (II) is correct
(c)Only (III) is correct
(d)Both (I) and (III) are correct
(e)All are correct
- Which of the following combination of words describes the most appropriate style and tone of the paragraph 3 respectively?
(a)analytical, nostalgic
(b)descriptive, didactic
(c)narrative, satirical
(d)argumentative, eulogistic
(e)analytical, cynical
- Which of the following statements can follow the paragraph 5 or conclude the passage contextually?
(I) Endowment and Money Back plans are traditional insurance and savings products that have been very popular in India for a long time.
(II) Investors should make an evaluation of their financial plan before investing in either endowment or money back plans.
(III) However, both endowment and money back plans are essentially savings products, in addition to life insurance.
(a)Only (I) is correct
(b)Only (II) is correct
(c)Only (III) is correct
(d)Both (II) and (III) are correct
(e)All are correct
Directions (6-10): In each of the questions given below a part of the sentence is given in bold which may or may not be grammatically or logically correct. Below each sentence five options are given that try to provide the most suitable alternative to the one given in bold. Choose the option which makes the sentence grammatically and logically correct. If no correction is required in the given sentence then choose option (e) as your choice.
- The previous day, heavy clashes broke out between Palestinian protesters and Israeli police in and around Jerusalem over new security measures at the Temple Mount, following a deadly terror attack at the site, which is holy to both Jews and Muslims.
(a) break off
(b) break out
(c) broke off
(d) broke through
(e) No correction required
- The early national movement succeeded to arouse among the people the feeling that they belong to one common nation- the Indian Nation.
(a) in arousing
(b) at arousing
(c) for arousing
(d) from arousing
(e) No correction required
- From among various alternatives we should choose the one which being viable and consumes less time and energy.
(a) is viable and consuming lesser
(b) is viability and consumes less
(c) is viable and consumes less
(d) has viable and consuming less
(e) No correction required
- He met with an accident and was immediately admitted to the hospital.
(a) admitted to hospital
(b) admitted to an hospital
(c) admitted into a hospital
(d) admitted within the hospital
(e) No correction required
- He is far more serious practitioner now than he would have to be in the past.
(a) should have been
(b) used to be
(c) had to be
(d) might have been
(e) No correction required
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