1. What is the author’s view of the global economy at present? (1 point)

 

(a) The global economy is unlikely to recover as economic reforms are not stringent.

(b) Rich economies have yet to recover while emerging markets are thriving.

(c) The economy is in turmoil as large Asian economies are experiencing a crisis.

(d) Many European countries are in debt and likely to default on their loans.

(e) Other than those given as options.

 

  1. Choose the word which is most nearly the OPPOSITE in meaning to the word DIP given in bold as used in the passage. (1 point)

 

(a) immense

(b) equal

(c) rise

(d) dry

(e) decline

 

  1. Which of the following is the most appropriate definition of the word BUOYANT as used in the passage? (1 point)

(a) to support/form the basis of an argument a claim etc.

(b) to gradually become  less successful and end in a disappointing way.

(c) to gradually increase in amount price, etc.

(d) to increase/stay at a high level, usually showing financial success.

(e) to change so that there is great variety.

 

 

  1. Choose the word which is most nearly the SAME in meaning as the word RAVAGE given in bold as used in the passage? (1 point)

 

(a) steal

(b) attack

(c) invade

(d) devastate

(e) scam

 

  1. According to the passage, which of the following factors was responsible for the Australian economy‘s performance during the 2008 global crisis? (1 point)

 

(a) Australian banks should adopt American hedge funds.

(b) Australia inexperienced a commodity base.

(c) Lack of investment in emerging markets.

 

  1. Which of the following is the central idea of the passage? (1 point)

 

(a) Restructuring of Australia‘s banks has been very successful.

(b) Australia‘s housing sector is enjoying a boom.

(c) The powers of Australia‘s banking regulator should be curtailed.

(d) Australia is the best forming of all advanced economies at present.

(e) Australia’s banking sector is vulnerable and headed for difficulty

 

  1. Choose the word which is most nearly the SAME meaning as the word BUMPER given in bold as used in the passage. (1 point)

(a) buffer

(b) impact

(c) adequate

(d) frequent

(e) huge

  1. Which of the following is the most appropriate definition of the word FIZZLED as used in the passage? (1 point)

 

(a) to support/form the basis of an argument a claim etc.

(b) to gradually become  less successful and end in a disappointing way.

(c) to gradually increase in amount price, etc.

(d) to increase/stay at a high level, usually showing financial success.

(e) to change so that there is great variety.

 

 

  1. Choose the word which is most nearly the OPPOSITE in meaning to the word FABULOUSLY given in bold as used in the passage. (1 point)

 

(a) terrifically

(b) insignificantly

(c) gravely

(d) harshly

(e) easily

 

  1. Decide if each of the following statements is true or false as per the context of the given article justifying your answer with evidence from the text. (4 points)

 

  • Australia‘s banks are still struggling to recover from the 2008 crisis. ( )

__________________________________________________________________________________________________________________________________________

 

  • Unemployment in Australia is on rise. (   )

__________________________________________________________________________________________________________________________________________

 

  • Regulators are unwilling to enforce strict reforms on the banking sector. ( )

__________________________________________________________________________________________________________________________________________

 

  • Australian banks have a surplus of capital according to regulators. (   )

__________________________________________________________________________________________________________________________________________

 

  1. What do the assets regarding assets of Australia citied in the passage convey? (1 point)

 

(a) Bank assets are heavily concentrated in the housing sector.

(b) Australian banks have invested too heavily in property markets of other countries.

(c) The four banks are in imminent danger of collapse.

(d) Australian banks are safe and are growing from strength to strength.

(e) Australian banks have a huge number of defaulters.

 

  1. Which of the following best describes the regulator’s view of Australia’s economy? (1 point)

 

(a) Australian banks should adopt American system of mortgage to safeguard the economy.

(b) Australia should withdraw from risky emerging markets.

(c) There is a need for some corrections and reforms to be implemented.

(d) Australia has insulated itself from foreign markets, and this has hampered growth.

(e) Its economy is soaring and recapitalisation and diversification reforms may be withdrawn.

English