IBPS CWE (PO/MT) Previous Year Exam Paper – 2014
Subject: English Language
Directions (Q. 1-10): Read the following passage carefully and answer the questions given. Certain words have been given in bold to help you locate them while answering some of the questions.
Today, emerging markets account for more than half of world GDP on the basis of purchasing power, according to the International Monetary Fund (IMF). In the 1990s, it was about a third. In the late 1990s, 30% of countries in the developing world managed to increase their output per person faster than America did, thus achieving what is calld “catch-up growth”. That catching up was somewhat lackadaisical: the gap closed at just 1.5% a year. Some of this was due to slower growth in America; most was not. The most impressive growth was in four of the biggest emerging economies: Brazil, Russia, India and China (BRICS). These economies have grown in different ways and for different reasons. The remarkable growth of emerging markets in general and BRICS in particular transformed the global economy in many ways, some wrenching.
Commodity prices particularly soared and the cost of manufacture and labour sank. A growing and vastly more accessible pool of labour in emerging economies played a part in both wage stagnation and rising income inequality in rich ones. Global poverty rates tumbled. Gaping economic imbalances fuelled an era of financial vulnerability and laid the groundwork for global crisis. The shift towards the emerging economies will continue. But its most tumultuous phase seems to have more or less reached its end. Growth rates have dropped. The nature of their growth is in the process of changing, too and its new mode will have fewer direct effects on the rest of the world. The likelihood of growth in other emerging economies having an effect in the near future comparable to that of BRICS in the recent past is low. The emerging giants will grow larger, and their ranks will swell but their tread will no longer shake the Earth as once it did.
After the 1990s there followed ‘convergence with a vengeance’. China’s pivot towards liberalisationand global markets came at a propitious time in terms of politics, business and technology. Rich economies were feeling relaxed about globalisation and current account deficits. America, booming and confident, was not troubled by the growth of Chinese industry or by off-shoring jobs to India. And the technology etc necessary to assemble and maintain complex supply chains were coming into their own, allowing firms to spread their operations between countries and across oceans. The tumbling costs of shipping and communication
sparked globalisation’s “second unbundling” (the first was the simple ability to provide consumers in one place with goods from another). As longer supply chains infiltrated and connected places with large and fast-growing working-age populations, enormous quantities of cheap new labour became accessible. Advanced economies added about 160m non-farm jobs between 1980 and 2010. In 2007 China’s economy expanded by an eye-popping 14.2%. India managed 10.1 % growth, Russia 8.5% and Brazil 6.1 %. The IMF now reckons there will be slowdown in growth. China will grow by just 7.8% in 2013, India by 5.6% and Russia and Brazil by 2.5%.
Other countries have impressive growth potential. The “Next 11” (N11) includes Bangladesh, Indonesia, Mexico, Nigeria and Turkey. But there are various reasons to think that this N11 cannot have an impact on the same scale as that of the BRICs. The first is that these economies are smaller. The N11 has a population of just over 1.3 billion -less than half that of the BRICS. The second is that the Nil is richer now than the BRICS were back in the day. The third reason that the performance of the BRICS cannot be repeated is the very success of that performance. The world economy is much larger than it used to be - twice as big in real terms as it was in 1992, according to IMF figures. But whether or not the world can build on a remarkable era of growth will depend in large part on whether the new giants tread a path towards greater global co-operation - or stumble, fall and, in times of tumult and in the worst case, fight.
1. According to the passage, which of the following is a reason for the author’s prediction regarding N11 countries?
(a) N11 countries are poorer, have less resources than BRICS countries and do not have much scope to grow.
(b) The size of these countries is too great to fuel a high rate of growth as expected by BRICS countries.
(c) The world economy is so large that the magnitude of growth from these countries will have to be huge to equal the growth of BRICs.
(d) These economies are agricultural and have not opened up their economies yet so their scope of growth is greater than that of BRlCs.
(e) Other than those given as options
2. What is the author’s view of globalisation’s “second unbundling”?
(a) It-proved beneficial since it created a large number of jobs and tremendous growth in crossborder trade.
(b) It disturbed the fragile balance of power among BRIC nations and caused internal strife.
(c) It caused untold damage to America’s economy since it restricted the spread of American farms off-shore.
(d) It proved most beneficial for the agricultural sector, creating huge employment opportunities.
(e) Citizens in advanced countries became much better off than those in emerging economies.
3. Choose the word which is most nearly the SAME in meaning as the word TUMBLING given in bold as used in the passage.
(a) jumbling
(b) confusing
(c) reducing
(d) dilapidated
(e) hurrying
4. What do the comparative statistics of 2007 and 2013 for BRICS countries published by, the IMF as cited in the passage indicate?
(a) BRICS economies will contribute less to global growth.
(b) As the population of these countries grows, its growth rate is filling.
(c) The financial practices followed by these countries will continue to pay rich dividends.
(d) These countries are creating global financial imbalances to the detriment of smaller developing economies like Africa.
(e) IMF forecasts of growth rate for these countries have not been fulfilled.
5. What effect did rising economies of BRICS have on the global economy?
(a) It helped stabilise the global economy and insulate it from the fallout of the global fmancial crisis.
(b) Labour became more highly skilled and wages were alarmingly increased, reducing the offshoring of jobs to developing countries.
(c) Though worldwide poverty rates tumbled, the gap between the rich and the poor in rich economies increased.
(d) The cost of living and level of inflation in these countries were mantained at low levels.
(e) All the given options are effects of the rise in BRICS economies.
6. What does the phrase “Their ranks will swell but their tread will no longer shake the Earth as it once did” convey in the context of the passage?
(a) While many countries will try and achieve the same rate of growth as BRICS they will not succeed.
(b) The growth of BRICS countries has changed the world’s economy in ways that any further growth will not have such a disruptive effect on the world economy.
(c) Developing countries have strengthened their fiscal systems in such a way that they will not be shaken to such a great extent again
(d) Poverty may increase as the gap between the rich and the poor increase but it will never reach the same leves as prior to the crisis.
(e) Citizens in advanced countries became much better off than those in emerging economies.
7. Which of the following best describes ‘catch-up growth’?
(a) Emerging economies tried but failed to catch up with America, which always grew at a higher growth rate.
(b) The size of emerging economies and their purchasing power has caught up with and now exceeds the rich countries together.
(c) The growth of the American economy determines the growth of emerging economies.
(d) From the later half of 1990s onwards emerging economies outdid America in terms of output per person.
(e) None of the given statements describes ‘catch up growth.’
8. Which of the following can be said about ‘convergence with a vengeance?
(A) After the 1990s advanced economies like America were open to the idea of free trade and globalisation.
(B) There were huge technology advances which were conducive to allowing businesses to spread their area of operations.
(C) Rich economies felt threatened by the competition from China.
(1) Only (A)
(2) Only (B)
(3) Only(C)
(4) Only (A) and (B)
(5) Only (B) and (C)
9. Choose the word which is OPPOSITE in meaning to the word EXPANDED given in bold as used in the passage.
(a) widened
(b) pressured
(c) delayed
(d) shrunk
(e) frightened
10. What is the author’s main objective in writing the passage?
(A) To urge emerging economies to deal with growth, which can be disruptive, maturely and without conflict
(B) To point out that while the period of growth of BRICS was disruptive this disruption has almost come to a close.
(C) To criticise advanced economies for their handling of growth and promoting competition and conflict in certain regions
(1) Only (A) and (B)
(2) Only (A)
(3) Only(C)
(4) All (A), (B) and (C)
(5) Only (B) and (C)
Directions (Q. 11-15): Which of the phrases given against the sentence should replace the word/phrase given in bold in the sentence to make it grammatically correct? If the sentence is correct as it is given and no correction is required, markes), ie (No correction required), as the answer.
11. Top managers are often stymied by the difficult of managing conflict.
(1) difficulties of managing
(2) difficulty for managing
(3) difficulty for management
(4) difficult of management
(5) No correction required
12. Reaching collective decisions based on individual preferences is an imperfect science.
(1) based for
(2) based
(3) in
(4) based in
(5) No correction required
13. Hollywood bare escaped being totally sidelined by the rise of television.
(1) bare escapism
(2) barely escapism
(3) bare escapes
(4) barely escaped
(5) No correction required
14. Taking good decisions and implement those quickly are the hallmarks of highperforming organisations.
(1) implementation quickly
(2) implementing quick
(3) implementing these quickly
(4) quick implementing those
(5) No correction required
15. Innovation have always been the top coorporat agenda.
(1) has always
(2) had being
(3) has always been
(4) always been
(5) No correctin required
Directions (Q. 16-20): Rearrange the six sentences denoted by A, B, C, D, E and F to make ~meaningful seven- sentence paragraph together with the first sentence marked as no. 1 and then answer the given questions,
(1) So how is global competition changing companies?
(A) For example, a group with a Europe-wide pay freeze may have to be flexible enough to authorize salary increases to specialists and managers in developing’ countries, who are still able to jump ship for a better offer.
(B) Second, the emerging-market companies as well as established multinationals are rivals, -
there is no way these can be Ignored.
(C) First, businesses are having to respond faster than before to pay changes.
(D) A case in point today is Africa, where rapid growth in key countries, notably Nigeria, has
persuaded many business people that the continent’s time may finally have arrived.
(E) The sight of well-paid expatriate foreign managers inspires the local Indian executives to ask for more and employers have to respond.
(F) So such countries where people move easily - like India - are seeing executive pay rising rapidly.
16. Which of the following should be the LAST (SEVENTH) sentence after the rearrangement?
(1) F
(2) E
(3) D
(4) C
(5) B
17. Which of the following should be the FOURTH sentence after the rearrangement?
(1) A
(2) B
(3) C
(4) D
(5) F
18. Which of the following should he the FIFTH sentence after the rearrangement?
(1) A
(2) B
(3) C
(4) E
(5) F
19. Which of the following should be the SECOND sentence after the rearrangement?
(1) A
(2) B
(3) C
(4) E
(5) F
20. Which of the following should be the THIRD sentence after the rearrangement?
(1) A
(2) B
(3) C
(4) D
(5) E
Directions (Q. 21-30): Read the following passage carefully and answer the given questions, Certain words have been given in bold to help you locate them while answering some of the questions.
The new economy has ushered in great business opportunities-and great turmoil. Most traditional organisations have accepted, in theory at least, that they must either change or die. Even giants such as eBay, Amazon.com, and America Online recognise that they need to manage the changes associated with rapid entrepreneurial growth. Despite some individual successes, however, change remains difficult to pull off, and few companies manage the process as well as they would like. Most of their initiatives-installing new technology, downsizing, restructuring, or trying to change corporate culture—have had low success rates. The brutal fact is that about 70% of all change initiatives fail.
In our experience, the reason for most of those failures is that in their rush to change their organisations, managers end up immersing themselves in an alphabet soup of initiatives. They lose focus and become mesmerised by all the advice available in print and online about why companies should change, what they should try to accomplish, and how they should do it. This proliferation ofrecomrnendations often leads to muddle when change is attempted. The result is that most change efforts exert a heavy toll, both human and economic. To improve the odds of success, and to reduce the human carnage, it is imperative that executives understand the nature and process of corporate change much better. But even that is not enough. Leaders need to crack the code of change.
For more than 40 years now, we have been studying the nature of corporate change. And although every business’s change initiative is unique, our research suggests there are two archetypes, or theories, of change. These archetypes are based on very different and often unconscious assumptions by senior executives-and the consultants and academics who advise them-about why and how changes should be made. Theory E is change based on economic
value. Theory O is change based on organisational capability. Both are valid models; each theory of change acliieves some of management’s goals, either explicitly or implicitly. But each theory
also has its costs often unexpected ones.
Theory E change strategies are the ones that make all the headlines. In this “hard” approach to change, shareholder value is the only legitimate measure of corporate success. Change usually involves heavy use of economic incentives, drastic layoffs, downsizing, and restructuring. E change strategies are more common than O change strategies among companies in the United States, where financial markets push corporate boards for rapid turnarounds. For instance, when William Anders was brought in as CEO of General Dynamics in 1991, his goal was to maximize economic value-however painful the remedies might be. Over the next three years, Anders reduced the workforce by 71,000 people 44,000 through the divestiture of seven businesses and 27,000 through layoffs and attrition. Anders employed common E strategies.
Managers who subscribe to Theory O believe that if they were to focus exclusively on the price of their stock, they might harm their organisations. In this “soft” approach to change, the goal is to develop corporate culture and human capability through individual and organisational learning-the process of changing, obtaining feedback, reflecting, and making further changes. US companies that adopt O strategies, as Hewlett-Packard did when its performance flagged in the 1980s, typically have strong, long-held, commitment-based psychological contracts with their employees. Managers at these companies are likely to see the risks in breaking those contracts. Because they place a high value on employee commitment, Asian and European businesses are also more likely to adopt an O strategy to change.
Few companies subscribe to just one theory. Most companies we have studied have used a mix of both. But all too often, managers try to apply theories E and O in tandem without resolving the inherent tensions between them. This impulse to combine the strategies is directionally correct, but theories E and O are so different that it’s hard to manage them sirnultaneously-employees distrust leaders who alternate between nurturing and cutthroat corporate behavior. Our research suggests, however, that there is a way to resolve the tension so that businesses can satisfy their shareholders while building viable institutions. Companies that effectively combine hard and soft approaches to change can reap big payoffs in profitability and productivity.
21. Which ofthe following is most nearly the OPPOSITE in meaning as the word LEGITIMATE as used in the passage?
(1) legal
(2) criminal
(3) sensitive
(4) invalid
(5) regular
22. Which of the following statements is TRUE in the context of the passage?
(1) Theory E strategies are more likely to be popular among orgnaisations of Asian countries.
(2) Quite often, organisations opt for either of the two theories of organisational change suggested by the author.
(3) Theory E change strategies focus more on maximizing economic worth of an organisation.
(4) The theories of change mentioned by the author are based on tested methods.
(5) None of the given statements is true.
23. The author in the given passage focuses on the following EXCEPT
(1) change not as easy as it appears
(2) how to increase protability through organisational change
(3) bringing about successful organisational change
(4) hindrances in the process of organisational change
(5) theories explaining the dynamics of organisational change
24. In the context of the passage, which of the following could possibly be an effect(s) of adopting Theory E, on employees for bringing about organisational change?
(1) Employees become more attached with the organisation
(2) Insecurity among employees
(3) Improved morale of employees
(4) Employees resorting to malicious methods to get faster promotions
(5) All those given as options
25. According to the author, for organisational change to be successful
(1) executives must focus on understanding the process of change.
(2) organisations must be willing to excuse those involved in the change process, in case it is
unsuccessful.
(3) organisations must be willing to spend generously during the process.
(4) those involved in the change process must be given specialised training.
(5) None of the given options
26. As mentioned in the passage, despite best effects, many organisations fail to bring about a change because
(A) they lose track of important information between the huge amount of information available to them.
(B) they rarely change the roles assigned to employees throughout the change process.
(C) they tend to depend on a consultant, an outsider, who barely knows the culture of the organisation.
(1) Only (A)
(2) Only (B)
(3) Only (C)
(4) Both (A) and (B)
(5) Both (B) and (C)
27. Which of the following is most nearly the SAME in meaning as the word ‘IMMERSING’ as used in the passage?
(1) engrossing
(2) fascinating
(3) ignoring
(4) saving
(5) holding
28. Which of the following is most nearly the OPPOSITE in meaning as the word ‘IMPERATIVE’ as’ used in the passage?
(1) optional
(2) mandatory
(3) significant
(4) slight
(5) binding
29. In the author’s view the best way to bring about organisational change is a blend of Theory E and O and this can be achieved through
(1) educating employees on the benefits of employing these theories.
(2) creating a specialised team of employees, thorough with these theories, for bringing about change
(3) motivating employees
(4) modelling successful change process of organisations that employed one of these theories.
(5) Other than those given as options
30. Which of the following is most nearly the SAME in meaning as the word UNCONSCIOUS as used in the passage?
(1) comatose
(2) automatic
(3) distracted
(4) false
(5) international
Directions (Q. 31-40): In the following passage, there are blanks each of which has been numbered. For each blank five words have been suggested, one of which fits the blank appropriately. Find out the appropriate word in each case.
WHO estimates that, within the next few years, non-communicable diseases will become the principal global (31) of morbidity and mortality. The role of diet in the diagnosis of most noncommunicable diseases is well (32). The shift torwards highly refined foods and towards meat and dairy products containing high levels of saturated fats, now increasingly (33) in middle income and lower- income countries, have, together with reduced energy (34), contributed to rises in the (35) of obesity and non-communicable diseases. Because of the global extent of the epidemic, the advantages of promoting healthy diets and preventing over-nutrition should be explored. The prohibitive costs of treating the consequences of over nutrition require that increased attention be given to preventive measures. Parallels exist between these requirements and the initiatives taken to control tobacco consumption, from which important (36) can be learnt, especially with respect to the use of international legal instruments. However, because some of the largest multinational companies are heavily involved in the creation and marketing of unhealthy foods, the control of these activites ‘presents a (37) challenge. There is a growing (38) that prevention demands public health actions at both the national and global levels, ranging from more health education to improved food labelling and controls on the marketing of certain
foods and soft drinks. This will require innovative and committed (39) by all (40).
31. (1) session (2) effect (3) result (4) causes (5) trouble
32.(1) document (2) established (3) aware (4) timed (5) proportioned
33. (1) appeared (2) presenting (3) evident (4) prevalence (5) existed
34. (1) cost (2) expenditure (3) intake (4) savings (5) expansion
35. (1) incidence (2) happening (3) commonality (4) occasion (5) expulsion
36. (1) tutorials (2) lessons (3) practice (4) point (5) habits
37. (1) formidable (2) pretentious (3) alarming (4) enormous (5) solution
38. (1) need (2) demand (3) association (4) credit (5) recognition
39. (1) amalgamation (2) joining (3) knowledge (4) collaboration (5) information
40. (1) party (2) population (3) politicians (4) segmentations (5) concerned
