English Quiz

Directions (1-15): Read the following passage carefully and answer these questions given below it. Certain words/phrases have been printed in BOLD to help you locate them while answering some of the questions.

As increasing dependence on information systems develops, the need for such systems to be reliable and secure also becomes more essential. As growing numbers of ordinary citizens use computer networks for banking, shopping, etc., network security is potentially a massive problem. Over the last few years the need for computer and

information system security has become increasingly evident, as web sites are being defaced with greater frequency, more and more denial-of-service attacks are being reported, credit card information is being stolen, there is increased sophistication of hacking tools that are openly available to the public on the Internet, and there is increasing damage being caused by viruses and worms to critical information system resources.

At the organizational level, institutional mechanisms have to be designed in order to review policies, practices, measures, and procedures to review e-security regularly and assess whether these are appropriate to their environment. It would be helpful if organizations share information about threats and vulnerabilities, and implement procedures for rapid and effective cooperation to prevent, detect and respond to security incidents. As new threat and vulnerabilities are continuously discovered there is a strong need for cooperation among organizations and, if necessary, we could also consider cross-border information sharing. We need to understand threats and dangers that could be vulnerable to and the steps that need to be taken to mitigate these vulnerabilities. We need to understand success control systems and methodology, telecommunication and network security, and security management practice. We should be well versed in the area of application and systems development security, cryptography, operations security and physical security.
The banking sector is poised for more challenges in the near future. Customers of banks can now look forward to a large array of new offerings by banks. From an era of mere competition, banks are now cooperation among themselves so that the synergistic benefits are share among all the players. This would result in the formation of shared payment networks (a few shared ATM networks have already been commissioned by banks), offering payment services beyond the existing time zones. The Reserve Bank is also facilitating new projects such as the Multi Application Smart Card project which, when implemented, would facilitate transfer of funds using electronic means and in a safe and secure manner across the length and breadth of the country, with reduced dependence on paper currency. The opportunities of e-banking or e-power in general need to be harnessed so that banking is available to all customers in such a manner that they would feel most convenient, and if required, without having to visit a branch of a bank. All these will have to be accompanied with a high level of comfort, which again boils down to the issue of e-security.
One of the biggest advantages accruing to banks in the future would be the benefits that arise from the introduction of Real Time Gross Settlement (RTGS). Funds management by treasuries of banks would be helped greatly by RTGS. With almost 70 banks having joined the RTGS system, more large value funds transfers are taking place through this system. The implementation of Core Banking solutions by banks is closely related to RTGS too. Core Banking will make anywhere banking a reality for customers of each bank, while RTGS bridges the need for inter-bank funds movement. Thus, the days of depositing a cheque for collection and a long wait for its realization would soon be a thing of the past for those customers who would opt for electronic movement of funds, using the RTGS system, where the settlement would be on an almost instantaneous basis. Core Banking is already in vogue in many private sector and foreign banks; while its implementation is at different stages amongst the public sector banks.
IT would also facilitate better and more scientific decision making within banks. Information systems now provide decision makers in banks with a great deal of information which, along with historical data and trend analysis, help in the building up of efficient Management Information Systems, This, in turn, would help in better Asset Liability Management (ALM) which, in today’s would of hairline margins, is a key requirement for the success of banks in their operational activities. Another benefit which e-banking could provide for, relates to Customer Relationship Management (CRM). CRM helps in stratification of customers and evaluating customer need on a holistic basis which could be paving the way for competitive edge for banks and complete customer care for customers of banks.

Q1. The content of the passage mainly emphasizes
(a) the threat of competition among banks providing tele-banking services
(b) the scientific advancements that have facilitated quicker and scientific banking procedures
(c) threats to on-line banking and remedies to guard against them
(d) e-banking and its impact on global economy
(e) None of these

Q2. What, according to the passage, is the prerequisite to lessen the threats of hacking?
(a) Effective measures to combat vulnerability
(b) Environment-friendly gadgets to remedy damages
(c) Detection and timely prevention of the threat
(d) Effective mechanism to evaluate the e-security
(e) None of these

Q3. In what way does IT catalyse better decision-making?
(A) By providing updated data and trend analysis.
(B) By providing increasing opportunities of personal contacts.
(C) By ensuring better asset-liability management.
(a) A only
(b) B only
(c) C only
(d) A and B only
(e) All the three

Q4. What is the advantage of RTGS to the customers?
(a) Anywhere banking 
(b) Instant realization of cheque
(c) Easy withdrawal of cash
(d) Hassle-free depositing of cash-loads
(e) Availability of transaction facilities at any other bank

Q5. What, according to the author, should be the ultimate goal(s) of e-banking?
(A) Customers’ convenience.
(B) Avoidance of heavy footfall of customers in bank branches.
(C) Protection of customers’ interests.
(a) A and B only
(b) B and C only
(c) A and C only
(d) All the three
(e) None of these

Q6. Why is it obligatory that a system should be perfectly dependable?
(a) To justify escalating dependence on system
(b) To ensure security for the system
(c) To disallow any pilferage whatsoever
(d) To ascertain proper logistic support
(e) None of these

Q7. Which of the following is/are recommended by the author to ensure security of banking transactions?
(A) Continuous re-examination of policies and procedures.
(B) Ensuring appropriateness of the security measures.
(C) Cooperation among various users to identify and prevent threat.
(a) A and B only
(b) B and C only
(c) A and C only
(d) A and B only
(e) None of these

Q8. Which of the following statements definitely False in the context of the passage?
(A) Transfer of funds to any part of the country through electronic media is under active consideration.
(B) Cooperation among various competing banks is helpful to all of them in sharing legitimate benefits.
(C) Assessment of customer needs and their clustering in homogeneous groups provides competitive edge to banks.
(a) Only A
(b) Only B and C
(c) Only A and C
(d) All the three
(e) None of these

Q9. Computer-savvy citizens are also shared to transact on-line due to the following except 
(a) smuggling of vital information regarding credit cards
(b) availability of hacking tools on the internet
(c) damage by viruses to critical information
(d) sophisticated, well-guarded on-line transaction devices
(e) denial-of-service attacks that put valid customers to inconvenience 

Directions (10-12): Choose the word which MOST OPPOSITE in meaning to the word printed in BOLD as used in, the passage.

Q10. Instantaneous
(a) Delayed
(b) Quick
(c) Immediate
(d) Eventful
(e) Unconventional

Q11. Vulnerable
(a) Susceptible
(b) Rigid
(c) Invincible
(d) Prone
(e) Weakling

Q12. Massive
(a) Tiny
(b) Gigantic
(c) Bulky
(d) Insignificant
(e) Acute

Directions (13-15): Choose the word which is most nearly the SAME in meaning as the word printed in BOLD as used in the passage.

Q13. Era
(a) Year
(b) Epoch
(c) Span
(d) Spirit
(e) Instinct

Q14. Poised
(a) Balanced
(b) Adulterated
(c) Stupefied
(d) Launched
(e) Ready

Q15. Mitigate
(a) Investigate
(b) Allay
(c) Elevate
(d) Invigorate
(e) Amplify
S1. Ans.(b) 
Sol. the scientific advancements that have facilitated quicker and scientific banking procedures

S2. Ans.(d) 
Sol. Effective mechanism to evaluate the e-security

S3. Ans.(a) 
Sol. By providing updated data and trend analysis.

S4. Ans.(e) 
Sol. Availability of transaction facilities at any other bank

S5. Ans.(c) 
Sol. A and C only

S6. Ans.(b) 
Sol. To ensure security for the system

S7. Ans.(b) 
Sol. B and C only

S8. Ans.(c) 
Sol. Only A and C

S9. Ans.(d) 
Sol. sophisticated, well-guarded on-line transaction devices

S10. Ans.(a) 
Sol.  Instantaneous- occurring or done instantly.

S11. Ans.(c) 
Sol.  Vulnerable-exposed to the possibility of being attacked or harmed, either physically or emotionally.

S12. Ans.(a) 
Sol.  Massive-large and heavy or solid.

S13. Ans.(b) 
Sol.  era-a major division of time that is a subdivision of an aeon and is itself subdivided into periods.
epoch-a division of time that is a subdivision of a period and is itself subdivided into ages, corresponding to a series in chronostratigraphy.

S14. Ans.(e) 
Sol.  Poised-ready or prepared for something

S15. Ans.(b) 
Sol.  Mitigate-make (something bad) less severe, serious, or painful.
Allay- relieve or alleviate (pain or hunger).
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