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Reading Comprehension

Reading Comprehension: English Reading Comprehension Exercises with Answers, Sample Passages for Reading Comprehension Test for GRE, CAT, IELTS preparation

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English Reading Comprehension Test Questions and Answers. Improve your ability to read and comprehend English Passages

Q126. > Financial Inclusion (FI) is an emerging priority for banks that have > nowhere else to go to achieve business growth. The viability of FI > business is under question, because while banks and their delivery > partners continue to make investments, they haven't seen commensurate > returns. In markets like India, most programmes are focused on > customer on-boarding, an expensive process which people often find > difficult to afford, involving issuance of smart cards to the > customers. However, large-scale customer acquisition hasn't translated > into large-scale business, with many accounts lying dormant and > therefore yielding no return on the bank's investment. For the same > reason, Business Correspondent Agents, who constitute the primary > channel for financial inclusion, are unable to pursue their activity > as a full-time job. One major reason for this state of events is that > the customer on-boarding process is often delayed after the submission > of documents (required to validate the details of the concerned > applicant) by the applicant and might take as long as two weeks. By > this time the initial enthusiasm of applicants fades away. Moreover, > the delivery partners don't have the knowledge and skill to propose > anything other than the most basic financial products to the customer > and hence do not serve their banks"' goal of expanding the offering in > unbanked markets. > > > Contrary to popular perception, the inclusion segment is not a > singular impoverished, undifferentiated mass and it is important to > navigate its diversity to identify the right target customers for > various programmes. Rural markets do have their share of rich people > who do not use banking services simply because they are inconvenient > to access or have low perceived value. At the same time, urban > markets, despite a high branch density, have multitude of low wage > earners outside the financial net. Moreover, the branch timings of > banks rarely coincide with the off-work hours of the labour class. > > Creating affordability is crucial in tapping the unbanked market. No > doubt pricing is a tool, but banks also need to be innovative in > right-sizing their proposition to convince customers that they can > derive big value even from small amounts. One way of doing this is to > show the target audience that a bank account is actually a lifestyle > enabler, a convenient and safe means to send money to family or make a > variety of purchases. Once banks succeed in hooking customers with > this value proposition they must sustain their interest by introducing > a simple and intuitive user application, ubiquitous access over mobile > and other touch points, and adopting a banking mechanism which is not > only secure but also reassuring to the customer. Technology is the > most important element of financial inclusion strategy and an enabler > of all others. The choice of technology is therefore a crucial > decision, which could make or mar the agenda. Of the various section > criteria, cost is perhaps the most important. This certainly does not > mean buying the cheapest package, but rather choosing that solution > which by scaling transactions to huge volumes reduces per unit > operating cost. An optimal mix of these strategies would no doubt > offer an innovative means of expansion in the unbanked market. Which of the following facts is true as per the passage?

  1.  People from rural areas have high perceived value of banking services.
  2.  Cost is not a valid criterion for technological pack selection for financial-inclusion initiatives.
  3.  The inclusion segment is a singular impoverished_ undifferentiated mass.
  4.  The branch timings of banks generally do not coincide with the off-work hours of the labour class in urban markets
  5.  All of the above

Solution : The branch timings of banks generally do not coincide with the off-work hours of the labour class in urban markets
Q127. > According to a recent theory, Archean-age gold-quartz vein systems > were formed more than two billion years ago from magmatic fluids that > originated from molten granite-like bodies deep beneath the surface of > the Earth. This theory is contrary to the widely held view that the > systems were deposited from metamorphic fluids, that is, from fluids > that formed during the dehydration of wet sedimentary rocks. The > recently developed theory has considerable practical importance. Most > of the gold deposits discovered during the original gold rushes were > exposed at the Earth’s surface and were found because they had shed > trails of alluvial gold that were easily traced by simple prospecting > methods. Although these same methods still lead to an occasional > discovery, most deposits not yet discovered have gone undetected > because they are buried and have no surface expression. The challenge > in exploration is therefore to unravel the subsurface geology of an > area and pinpoint the position of buried minerals. Methods widely used > today include analysis of aerial images that yield a broad geological > overview; geophysical techniques that provide data on the magnetic, > electrical, and mineralogical properties of the rocks being > investigated; and sensitive chemical tests that are able to detect the > subtle chemical halos that often envelop mineralization. However, none > of these high-technology methods are of any value if the sites to > which they are applied have never mineralized, and to maximize the > chances of discovery the explorer must, therefore, pay particular > attention to selecting the ground formations most likely to be > mineralized. Such ground selection relies to varying degrees on > conceptual models, which take into account theoretical studies of > relevant factors. These models are constructed primarily from > empirical observations of known mineral deposits and from theories of > ore-forming processes. The explorer uses the models to identify those > geological features that are critical to the formation of the > mineralization being modeled and then tries to select areas for > exploration that exhibit as many of the critical features as possible. The theory mentioned in lines 1-3 relates to the conceptual models discussed in the passage in which of the following ways?

  1.  It may furnish a valid account of ore-forming processes, and, hence, can support conceptual models that have great practical significance.
  2.  It suggests that certain geological formations, long believed to be mineralized, are in fact mineralized, thus confirming current conceptual models.
  3.  It suggests that there may not be enough similarity across Archean-age gold-quartz vein systems to warrant the formulation of conceptual models.
  4.  It corrects existing theories about the chemical halos of gold deposits and thus provides a basis for correcting current conceptual models.
  5.  It suggests that simple prospecting methods still have a higher success rate in the discovery of gold deposits than do more modern methods.

Solution : It may furnish a valid account of ore-forming processes, and, hence, can support conceptual models that have great practical significance.

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Q128. > According to a recent theory, Archean-age gold-quartz vein systems > were formed more than two billion years ago from magmatic fluids that > originated from molten granite-like bodies deep beneath the surface of > the Earth. This theory is contrary to the widely held view that the > systems were deposited from metamorphic fluids, that is, from fluids > that formed during the dehydration of wet sedimentary rocks. The > recently developed theory has considerable practical importance. Most > of the gold deposits discovered during the original gold rushes were > exposed at the Earth’s surface and were found because they had shed > trails of alluvial gold that were easily traced by simple prospecting > methods. Although these same methods still lead to an occasional > discovery, most deposits not yet discovered have gone undetected > because they are buried and have no surface expression. The challenge > in exploration is therefore to unravel the subsurface geology of an > area and pinpoint the position of buried minerals. Methods widely used > today include analysis of aerial images that yield a broad geological > overview; geophysical techniques that provide data on the magnetic, > electrical, and mineralogical properties of the rocks being > investigated; and sensitive chemical tests that are able to detect the > subtle chemical halos that often envelop mineralization. However, none > of these high-technology methods are of any value if the sites to > which they are applied have never mineralized, and to maximize the > chances of discovery the explorer must, therefore, pay particular > attention to selecting the ground formations most likely to be > mineralized. Such ground selection relies to varying degrees on > conceptual models, which take into account theoretical studies of > relevant factors. These models are constructed primarily from > empirical observations of known mineral deposits and from theories of > ore-forming processes. The explorer uses the models to identify those > geological features that are critical to the formation of the > mineralization being modeled and then tries to select areas for > exploration that exhibit as many of the critical features as possible. According to the passage, methods of exploring for gold that is widely used today are based on which of the following facts?

  1.  Most of the Earth’s remaining gold deposits are still molten.
  2.  Most of the Earth’s remaining gold deposits are exposed at the surface.
  3.  Most of the Earth’s remaining gold deposits are buried and have no surface expression.
  4.  Only one type of gold deposit warrants exploration since the other types of gold deposits are found in regions difficult to reach.
  5.  Only one type of gold deposit warrants exploration, since the other types of gold deposits, are unlikely to yield concentrated quantities of gold.

Solution : Most of the Earth’s remaining gold deposits are buried and have no surface expression.
Q129. > Financial Inclusion (FI) is an emerging priority for banks that have > nowhere else to go to achieve business growth. The viability of FI > business is under question, because while banks and their delivery > partners continue to make investments, they haven't seen commensurate > returns. In markets like India, most programmes are focused on > customer on-boarding, an expensive process which people often find > difficult to afford, involving issuance of smart cards to the > customers. However, large-scale customer acquisition hasn't translated > into large-scale business, with many accounts lying dormant and > therefore yielding no return on the bank's investment. For the same > reason, Business Correspondent Agents, who constitute the primary > channel for financial inclusion, are unable to pursue their activity > as a full-time job. One major reason for this state of events is that > the customer on-boarding process is often delayed after the submission > of documents (required to validate the details of the concerned > applicant) by the applicant and might take as long as two weeks. By > this time the initial enthusiasm of applicants fades away. Moreover, > the delivery partners don't have the knowledge and skill to propose > anything other than the most basic financial products to the customer > and hence do not serve their banks"' goal of expanding the offering in > unbanked markets. > > > Contrary to popular perception, the inclusion segment is not a > singular impoverished, undifferentiated mass and it is important to > navigate its diversity to identify the right target customers for > various programmes. Rural markets do have their share of rich people > who do not use banking services simply because they are inconvenient > to access or have low perceived value. At the same time, urban > markets, despite a high branch density, have multitude of low wage > earners outside the financial net. Moreover, the branch timings of > banks rarely coincide with the off-work hours of the labour class. > > Creating affordability is crucial in tapping the unbanked market. No > doubt pricing is a tool, but banks also need to be innovative in > right-sizing their proposition to convince customers that they can > derive big value even from small amounts. One way of doing this is to > show the target audience that a bank account is actually a lifestyle > enabler, a convenient and safe means to send money to family or make a > variety of purchases. Once banks succeed in hooking customers with > this value proposition they must sustain their interest by introducing > a simple and intuitive user application, ubiquitous access over mobile > and other touch points, and adopting a banking mechanism which is not > only secure but also reassuring to the customer. Technology is the > most important element of financial inclusion strategy and an enabler > of all others. The choice of technology is therefore a crucial > decision, which could make or mar the agenda. Of the various section > criteria, cost is perhaps the most important. This certainly does not > mean buying the cheapest package, but rather choosing that solution > which by scaling transactions to huge volumes reduces per unit > operating cost. An optimal mix of these strategies would no doubt > offer an innovative means of expansion in the unbanked market. According to the passage, for which of the following reasons do the delivery partners fail to serve their bank-‘s goal to expand in the unbanked markets? (A) They do not have adequate client base to sell they financial products. (B) They do not have adequate knowledge and skills explain anything beyond basic financial products to the customers. (C) They do not have the skills to operate advanced technological aids that are a prerequisite to tap the unbanked-market.

  1.  Only (B)
  2.  Only (C)
  3.  All (A), (B) & (C)
  4.  Only (A)
  5.  Both (B) and (C)

Solution : Only (B)

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Q130. > Financial Inclusion (FI) is an emerging priority for banks that have > nowhere else to go to achieve business growth. The viability of FI > business is under question, because while banks and their delivery > partners continue to make investments, they haven't seen commensurate > returns. In markets like India, most programmes are focused on > customer on-boarding, an expensive process which people often find > difficult to afford, involving issuance of smart cards to the > customers. However, large-scale customer acquisition hasn't translated > into large-scale business, with many accounts lying dormant and > therefore yielding no return on the bank's investment. For the same > reason, Business Correspondent Agents, who constitute the primary > channel for financial inclusion, are unable to pursue their activity > as a full-time job. One major reason for this state of events is that > the customer on-boarding process is often delayed after the submission > of documents (required to validate the details of the concerned > applicant) by the applicant and might take as long as two weeks. By > this time the initial enthusiasm of applicants fades away. Moreover, > the delivery partners don't have the knowledge and skill to propose > anything other than the most basic financial products to the customer > and hence do not serve their banks"' goal of expanding the offering in > unbanked markets. > > > Contrary to popular perception, the inclusion segment is not a > singular impoverished, undifferentiated mass and it is important to > navigate its diversity to identify the right target customers for > various programmes. Rural markets do have their share of rich people > who do not use banking services simply because they are inconvenient > to access or have low perceived value. At the same time, urban > markets, despite a high branch density, have multitude of low wage > earners outside the financial net. Moreover, the branch timings of > banks rarely coincide with the off-work hours of the labour class. > > Creating affordability is crucial in tapping the unbanked market. No > doubt pricing is a tool, but banks also need to be innovative in > right-sizing their proposition to convince customers that they can > derive big value even from small amounts. One way of doing this is to > show the target audience that a bank account is actually a lifestyle > enabler, a convenient and safe means to send money to family or make a > variety of purchases. Once banks succeed in hooking customers with > this value proposition they must sustain their interest by introducing > a simple and intuitive user application, ubiquitous access over mobile > and other touch points, and adopting a banking mechanism which is not > only secure but also reassuring to the customer. Technology is the > most important element of financial inclusion strategy and an enabler > of all others. The choice of technology is therefore a crucial > decision, which could make or mar the agenda. Of the various section > criteria, cost is perhaps the most important. This certainly does not > mean buying the cheapest package, but rather choosing that solution > which by scaling transactions to huge volumes reduces per unit > operating cost. An optimal mix of these strategies would no doubt > offer an innovative means of expansion in the unbanked market. According to the passage, for which of the following reasons is the viability of financial inclusion under question?

  1.  Banks always prefer the cheapest package (to cut cost) while making a choice of technology to be used.
  2.  The Business Correspondent Agents are highly demotivated to pursue their activity as a full-time job.
  3.  The investments made by banks and their delivery partners are not yielding equal amounts of returns.
  4.  Banks do not have adequate number of delivery partners required to tap the unbanked market.
  5.  Banks do not have adequate manpower to explore the diversity of the unbanked market and thereby identify the right target customers for various programs.

Solution : The investments made by banks and their delivery partners are not yielding equal amounts of returns.
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