English : Cloze Test for Upcoming Exams– Set 52

New Pattern Cloze Test for SBI PO, IBPS PO and Competitive exams

New Pattern English Cloze Test for SBI PO, IBPS PO, NIACL and various upcoming bank and insurance exams. Cloze Test New Pattern IBPS PO. New pattern Cloze test Bank of Baroda Dena bank

In the passage given below there are 5 blanks, each followed by a word given in bold. Even blank has four alternative words given in options (A),(B),(C) and (D). You have to tell which word will best suit the respective blank. Mark (E) as your answer if the work given in bold after the blank is your answer i.e “No change required

IN THE stormy and ever-changing world of global finance, insurance has remained a relatively placid (1)  (spontaneity). With the notable exception of AIG, an American insurer bailed out by the taxpayer in 2008, the industry rode out the financial crisis largely (2)  (injured) . Now, however, insurers face unprecedented competitive pressure owing to technological change. This pressure is (3)  (taxing) not just adaptation, but transformation.

The essential product of insurance—protection, usually in the form of money, when things go (4)  (unnoticed)—has few obvious substitutes. Insurers have built huge customer bases as a result. Investment revenue has provided a reliable boost to profits. This easy life led to a complacent (5)  (refusal) to modernise. The industry is still astonishingly reliant on human labour. Underwriters look at data but plenty still rely on human judgment to (6)  (grade) risks and set premiums. Claims are often reviewed manually.

The march of automation and technology is an opportunity for new entrants. Although starting a new (7)  (sick-and-tired) insurer from scratch is rare, many companies are taking aim at parts of the insurance process. Two Sigma, a large American “quant” hedge fund, for example, is betting its number-crunching algorithms can gauge risks and set prices for insurance better and faster than any human could. Other upstarts have developed alternative sales channels. Simplesurance, a German firm, for example, has (8)  (replicated) product-warranty insurance into e-commerce sites.

Insurers are (9)  (achieving) to technological disruption in a variety of ways. Two Sigma contributes its analytical prowess to a joint venture with Hamilton, a Bermudian insurer, and AIG, which actually issues the policies (currently only for small-business insurance in America). Allianz, a German insurer, simply bought into Simplesurance; many insurers have internal venture-capital arms for this purpose. A third approach is to try to foster internal innovation, as Aviva, a British insurer, has done by building a “digital garage” in Hoxton, a trendy part of London.

The biggest threat that incumbents face is to their bottom line. Life insurers, (10)  (qualified for) investment returns to meet guaranteed payouts, have been stung by a prolonged period of low interest rates. The tough environment has accelerated a shift in life insurance towards products that pass more of the risk to investors. Standard Life, a British firm, made the transition earlier than most, for example, and has long been primarily an asset manager.

  1. A) hinterland
    B) incoherence
    C) backwater
    D) occupant
    E) No Change Required
    View Answer
    Option C
    Explanation
    : backwater- a place or situation in which no development or progress is taking place. The use of placid(calmness) points towards relatively less development in comparison to other financial sectors.

  2. A) progressed
    B) damaged
    C) developed
    D) unscathed
    E) No Change Required
    View Answer
    Option D
    Explanation
    : unscathed- without suffering any injury, damage, or harm.
    (bailed out by the taxpayer hence it came out unaffected)

  3. A) demanding
    B) bothering
    C) tolerating
    D) impressing
    E) No Change Required
    View Answer
    Option A
    Explanation
    : demanding

  4. A) undulated
    B) wrong
    C) inaccurate
    D) appropriate
    E) No Change Required
    View Answer
    Option B
    Explanation
    : protection in insurance is provided for certain events when things go wrong, like accident or death.

  5. A) approval
    B) adoption
    C) adaptation
    D) revival
    E) No Change Required
    View Answer
    Option E
    Explanation
    : refusal. As insurance has few/no substitute hence there is almost no competition. So insurance sector does not feels the need of modernization. When competition is high then it becomes necessary to modernize. Also the next line says: The industry is still astonishingly reliant on human labour.
  6. A) resolve
    B) evaluate
    C) try
    D) account
    E) No Change Required
    View Answer
    Option B
    Explanation
    : premiums are risks are evaluated by the insurance company.

  7. A) spick-and-span
    B) soup-to-nuts
    C) Fair-and-square
    D) High-and-dry
    E) No Change Required
    View Answer
    Option B
    Explanation
    : soup-to-nuts – from beginning to end (means a completely established insurance business from scratches is not possible/ rare)

  8. A) restrained
    B) mandated
    C) integrated
    D) impounded
    E) No Change Required
    View Answer
    Option C
    Explanation
    : integrated

  9. A) responding
    B) operating
    C) resolving
    D) returning
    E) No Change Required
    View Answer
    Option A
    Explanation
    : responding

  10. A) dominating on
    B) limit on
    C) sideling of
    D) reliant on
    E) No Change Required
    View Answer
    Option D
    Explanation
    : The sentence talks about those insurer that are reliant on….

 

 

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11 Thoughts to “English : Cloze Test for Upcoming Exams– Set 52”

  1. Jellyfish

    7/10 ty

  2. Vision

    awe Admin !!

  3. SHREE :D......

    mam last ques ka reliant on kyo kaha ?

    1. Its means insurers are dependent on

      1. SHREE :D......

        Ty mam??

  4. AVI™ (Sinchen loveR)

    Thnxxxx

  5. Ravi Upadhyay

    thnxx it is hard for me..

  6. sachin shukla Banker of 2017

    really very fantastic question…..
    ty.. team for ur great effort

  7. Ittu Si Barbie (。♥‿♥。)

    It was tough 🙂

    Thanku team 🙂

  8. ahtesham ahmed

    4/10

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