Don't worry, there's no need to answer ............ I'm not in a hurry. ?->(Show Answer!)

1. Don't worry, there's no need to answer ............ I'm not in a hurry.

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MCQ-> A passage is given with 5 questions following it. Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it. Worry is a very common thing. Even children worry as much as grown up people. In his childhood, the writer used to fear that his parents would die suddenly at night. His fear and anxiety was just imaginary. When he was on the war front in Mesopotamia, the writer came to a certain conclusion on worrying. He was a subaltern officer. It was not his duty to plan future actions of war. He was there only to carry out what the superiors would decide. So it was useless to worry. When he took that stand he slept soundly without worry. Here, the writer had some real reason to worry. But he could get rid of it when he found it was useless to worry. He followed the same principle when he was a prisoner of war and he was in Asiatic Turkey. There, too, he banished his worries because nothing of his future depended on himself. The future of the prisoners of war would depend on the various governments. Thus he was able to live there without much worry though he was a prisoner. But his deliberate suppression of worry during the war and as a prisoner did not wholly eradicate his worries. The fear had gone to his subconscious mind and remained there buried. After the war the writer was at home. But whenever a member of his family was absent he feared all sorts of mishap happening to him or her. Moreover, he had a recurring nightmare that he had become a prisoner of war and the war was not going to end. The worries without any real cause here were the manifestations of the fears that he had banished deliberately earlier.Why was the writer able to live in jail without much worry?
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MCQ-> Read the passage carefully and answer the questions given at the end of each passage:Turning the business involved more than segmenting and pulling out of retail. It also meant maximizing every strength we had in order to boost our profit margins. In re-examining the direct model, we realized that inventory management was not just core strength; it could be an incredible opportunity for us, and one that had not yet been discovered by any of our competitors. In Version 1.0 the direct model, we eliminated the reseller, thereby eliminating the mark-up and the cost of maintaining a store. In Version 1.1, we went one step further to reduce inventory inefficiencies. Traditionally, a long chain of partners was involved in getting a product to the customer. Let’s say you have a factory building a PC we’ll call model #4000. The system is then sent to the distributor, which sends it to the warehouse, which sends it to the dealer, who eventually pushes it on to the consumer by advertising, “I’ve got model #4000. Come and buy it.” If the consumer says, “But I want model #8000,” the dealer replies, “Sorry, I only have model #4000.” Meanwhile, the factory keeps building model #4000s and pushing the inventory into the channel. The result is a glut of model #4000s that nobody wants. Inevitably, someone ends up with too much inventory, and you see big price corrections. The retailer can’t sell it at the suggested retail price, so the manufacturer loses money on price protection (a practice common in our industry of compensating dealers for reductions in suggested selling price). Companies with long, multi-step distribution systems will often fill their distribution channels with products in an attempt to clear out older targets. This dangerous and inefficient practice is called “channel stuffing”. Worst of all, the customer ends up paying for it by purchasing systems that are already out of date Because we were building directly to fill our customers’ orders, we didn’t have finished goods inventory devaluing on a daily basis. Because we aligned our suppliers to deliver components as we used them, we were able to minimize raw material inventory. Reductions in component costs could be passed on to our customers quickly, which made them happier and improved our competitive advantage. It also allowed us to deliver the latest technology to our customers faster than our competitors. The direct model turns conventional manufacturing inside out. Conventional manufacturing, because your plant can’t keep going. But if you don’t know what you need to build because of dramatic changes in demand, you run the risk of ending up with terrific amounts of excess and obsolete inventory. That is not the goal. The concept behind the direct model has nothing to do with stockpiling and everything to do with information. The quality of your information is inversely proportional to the amount of assets required, in this case excess inventory. With less information about customer needs, you need massive amounts of inventory. So, if you have great information – that is, you know exactly what people want and how much - you need that much less inventory. Less inventory, of course, corresponds to less inventory depreciation. In the computer industry, component prices are always falling as suppliers introduce faster chips, bigger disk drives and modems with ever-greater bandwidth. Let’s say that Dell has six days of inventory. Compare that to an indirect competitor who has twenty-five days of inventory with another thirty in their distribution channel. That’s a difference of forty-nine days, and in forty-nine days, the cost of materials will decline about 6 percent. Then there’s the threat of getting stuck with obsolete inventory if you’re caught in a transition to a next- generation product, as we were with those memory chip in 1989. As the product approaches the end of its life, the manufacturer has to worry about whether it has too much in the channel and whether a competitor will dump products, destroying profit margins for everyone. This is a perpetual problem in the computer industry, but with the direct model, we have virtually eliminated it. We know when our customers are ready to move on technologically, and we can get out of the market before its most precarious time. We don’t have to subsidize our losses by charging higher prices for other products. And ultimately, our customer wins. Optimal inventory management really starts with the design process. You want to design the product so that the entire product supply chain, as well as the manufacturing process, is oriented not just for speed but for what we call velocity. Speed means being fast in the first place. Velocity means squeezing time out of every step in the process. Inventory velocity has become a passion for us. To achieve maximum velocity, you have to design your products in a way that covers the largest part of the market with the fewest number of parts. For example, you don’t need nine different disk drives when you can serve 98 percent of the market with only four. We also learned to take into account the variability of the lost cost and high cost components. Systems were reconfigured to allow for a greater variety of low-cost parts and a limited variety of expensive parts. The goal was to decrease the number of components to manage, which increased the velocity, which decreased the risk of inventory depreciation, which increased the overall health of our business system. We were also able to reduce inventory well below the levels anyone thought possible by constantly challenging and surprising ourselves with the result. We had our internal skeptics when we first started pushing for ever-lower levels of inventory. I remember the head of our procurement group telling me that this was like “flying low to the ground 300 knots.” He was worried that we wouldn’t see the trees.In 1993, we had $2.9 billion in sales and $220 million in inventory. Four years later, we posted $12.3 billion in sales and had inventory of $33 million. We’re now down to six days of inventory and we’re starting to measure it in hours instead of days. Once you reduce your inventory while maintaining your growth rate, a significant amount of risk comes from the transition from one generation of product to the next. Without traditional stockpiles of inventory, it is critical to precisely time the discontinuance of the older product line with the ramp-up in customer demand for the newer one. Since we were introducing new products all the time, it became imperative to avoid the huge drag effect from mistakes made during transitions. E&O; – short for “excess and obsolete” - became taboo at Dell. We would debate about whether our E&O; was 30 or 50 cent per PC. Since anything less than $20 per PC is not bad, when you’re down in the cents range, you’re approaching stellar performance.Find out the TRUE statement:
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MCQ-> In the following questions, you have two passages with 5 questions in each passage. Read the passages carefully and choose the best answer to each question out of the four alternatives. Why don’t I have a telephone? Not because I pretend to be wise or pose as unusual. There are two chief reasons; because I don’t really like the telephone, and because I find I can still work and play, eat, breathe, and sleep without it. Why don’t I like the telephone? Because I think it is a pest and time waster. It may create unnecessary suspense and anxiety, as when you wait for an expected call, that doesn’t come; or irritating delay, as when you keep ringing a number that is always engaged. As for speaking in a public telephone booth, it seems to me really horrible. You would not use it unless you were in a hurry, and because you are in a hurry, you will find other people waiting before you. When you do get into the booth, you are half suffocated by the stale, unventilated air, flavoured with cheap face-powder and chain smoking; and by the time you have begun your conversation your back is chilled by the cold looks of somebody who is moving about restlessly to take your place.If you have a telephone in your house, you will admit that it tends to ring when you least want it to ring: when you are asleep, or in the middle of a meal or a conversation, or when you are just going out, or when you are in your bath. Are you strong minded enough to ignore it, to say to yourself. “Ah well, it will be all the same in hundred years time”. You are not. You think there may be some important news or message for you. Have you never rushed dripping from the bath, of chewing from the table, or dazed from bed, only to be told that you are a wrong number? You were told the truth. In my opinion all telephone numbers are wrong numbers. IL of course, your telephone rings and you decide not to answer it, then you will have to listen to an idiotic bell ringing and ringing in what is supposed to be the privacy of your own home. You might as well buy a bicycle bell and ring it Yourself.The author does not have a telephone because
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MCQ-> Read the following passage based on an Interview to answer the given questions based on it. Certain words are printed in bold to help you locate them while answering some of the questions.A spate of farmer suicides linked to harassment by recovery agents employed by micro finance institutions (MFLs) in Andhra Pradesh spurned the state government to bring in regulation to protect consumer interests. But, while the Bill has brought into sharp focus the need for consumer protection, it tries to micro-manage MFI operations and in the process it could scuttle some of the crucial bene ts that MFIs bring to farmers, says the author of Micro nance India, State Of The Sec-for Report 2010. In an interview he points out that prudent regulation can ensure the original goal of the MFIs - social uplift of the poor. Do you feel the AP Bill to regulate Mils is well thought out? Does it ensure fairness to the borrowers and the long-term health of the sector? The AP Bill has brought into sharp focus the need for customer protection in four critical areas. First is pricing. Second is lender's liability whether the lender can give too much loan without assessing the customer's ability to pay. Third is the structure of loan repayment - whether you can ask money on a weekly basis from people who don't produce weekly incomes. Fourth is the practices that attend to how you deal with defaults. But the Act should have looked at the positive bene ts that institutions could bring in, and where they need to be regulated in the interests of the customers. It should have brought only those features in. Say, you want the recovery practices to be consistent with what the customers can really manage. If the customer is aggrieved and complains that somebody is harassing him, then those complaints should be investigated by the District Rural Development Authority. Instead what the Bill says is that MF1s cannot go to the customer's premises to ask for recovery and that all transactions will be done in the Panchayat of ce. With great dif culty, MFIs brought services to the door of people. It is such a relief for the customers not to be spending time out going to banks or Panchayat of ces, which could be 10 km away in some cases. A facility which has brought some relief to people is being shut. Moreover, you are practically telling the MFI where it should do business and how it should do it. Social responsibilities were inbuilt when the MIrls were rst conceived. If kills go for profit with loose regulations, how are they different from moneylenders? Even among moneylenders there are very good people who take care of the customer's circumstance, and there are really bad ones. A large number of the MF1s are good and there are some who are coercive because of the kind of prices and processes they have adopted. But Moneylenders never got this organised. They did not have such a large footprint. An MFI brought in organisation, it mobilized the equity, it brought in commercial funding. It invested in systems. It appointed a large number of people. But some of them exacted a much higher price than they should have. They wanted to break even very fast and greed did take over in some cases.Are the for-profit 'Ms the only ones harassing people for recoveries? Some not-for-profit out ts have also adopted the same kind of recovery methods. That may be because you have to show that you are very ef cient in your recovery methods and that your portfolio is of a very high quality if you want to get commercial funding from a bank. In fact, among for-profits there are many who have sensible recovery practices. Some have fortnightly recovery, some have monthly recovery. So we have differing practices. We just describe a few dominant ones and assume every for-profit MFI operates like that. How can you introduce regulations to ensure social upliftment in a sector that is moving towards for-profit models? I am not really concerned whether someone wants to make a profit or not The bottom-line for me is customer protection. The rst area is fair practices. Are you telling your customers how the loan is structured ? Are you being transparent about your performance? There should also be a lender's liability attached to what you do. Suppose you lend excessively to a customer without assessing their ability to service the loan, you have to take the hit. Then there's the question of limiting returns. You can say that an MFI cannot have a return on assets more than X, a return on equity of more than Y. Then suppose there is a privately promoted MFI, there should be a regulation to ensure the MFI cannot access equity markets till a certain amount of time. MFIs went to markets perhaps because of the need to grow too big too fast. The government thought they were making profit off the poor, and that's an indirect reason why they decided to clamp down on MF1s. If you say an MFI won't go to capital market, then it will keep political compulsions under rein.Which of the following best explains "structure of loan repayment" in this context of the rst question asked to the author ?....

MCQ-> Read the following passage carefully and answer the 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 system to be reliable and secure also becomes more essential. As growing numbers of ordinary citizens use computer networks for banking, shopping, etc., network security in potentially a ‘’massive’’ problem. Over the last few years, the need for computer and information security system 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 mechanism 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 of rapid and effective cooperation to prevent, detect and respond to security incidents. As new threats and vulnerabilities are continuously discovered there is a strong need for co-operation 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 access control systems and methodology, telecommunications and network security, and security management practise. 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 cooperating among themselves so that the synergistic benefits are shared among all the players. This would result in the information 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 is 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 transfer are taking place through this system. The implementation of Core Banking solutions by the 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 system 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, today’s world 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 needs on a holistic basis which could be paving the way for competitive edge for banks and complete customer care for customer of banks.The content of the passage ‘’mainly’’ emphasizes----
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