LIC AAO Questions and answers

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      Directions (121-125): Rearrange the given six sentences (A), (B), (C), (D), (E) and (F) in a proper sequence so as to form a meaningful paragraph and then answer the given questions.

      (A)The study also shows that firms also contribute a significant amount to property taxes, sales taxes, environmental taxes and so on.

      (B) ln fact, a study by PwC, an accountancy firm, shows that on average companies pay more tax on labour such as employer's social security contributions, than on profits.

      (C) This widely held belief is wrong.

      (D) The only tax paid by businesses is the one levied on their profits.

      (E) Accordingly their analysis of data shows that the average global company pays some 43.1 percent of its commercial profits in tax, of which 16.3 percentage points is labour related, 16.1 profit related and 10.7 others.

      (F) But with the challenging face of business, this traditional distribution of taxation needs a second look.

      121). Which of the following should be the THIRD sentence after the rearrangement?
      A). A
      B). B
      C). D
      D). E
      E). F
      122). Which of the following should be the SECOND sentence after the rearrangement?
      A). A
      B). B
      C). C
      D). D
      E). E
      123). Which of the following should be the FlFTH sentence after the rearrangement?
      A). A
      B). C
      C). D
      D). E
      E). F
      124). Which of the following should be the FIRST sentence after the rearrangement?
      A). A
      B). B
      C). C
      D). D
      E). E
      125). Which of the following should be the SIXTH (LAST) sentence after the rearrangement?
      A). A
      B). B
      C). C
      D). D
      E). F

      Directions [126-135] : Read the following passage carefully and answer the questions given below.
      Certain words/phrases have been given in bold to help you locate them while answering some of the questions.

      Inland waterways, as quiet as a mouse, keep the nation's economy flowing as they transport $180 billion of coal, steel, chemicals and other goods each year across 38 states. Yet, an antiquated system of locks and dams threatens the timely delivery of those goods daily.
      Locks and dams raise or lower ships from one water level to the next, but breakdown of these carriers are frequent. The outage, which began last July, and is expected to end this August, will cost the power generation company and its customers $5.5 million as the utility ferries coal and other supplies along the river for itself and other businesses.

      As the economy picks up, the nation's creaking infrastructure will increasingly struggle to handle the load. That will make products more expensive as businesses pay more for shipping or maneuver around roadblocks and it will cause the nation to lose exports to other countries-both of which are expected to hamper the recovery. “The good news is, that the economy is turning,“ says Dan Murray, Vice President of the Transportation Research Institute. “The bad news is, we expect congestion to skyrocket." he added.

      The ancient lock-and-dam system is perhaps the most egregious example of aging or congested transportation systems that are being outstripped by demand. Fourteen locks, out of the total twenty-eight are expected to fall by 2020, costing the economy billions of dollars. Meanwhile. seaports cannot accommodate larger container ships, slowing exports and imports highways are too narrow. Bridges are overtaxed.

      The shortcomings were partly masked during the recession as fewer people worked and less freight was shipped, easing traffic on transportation corridors. But interviews with shippers and logistics companies showed that delays started lengthening along with the moderately growing economy. Yet there is little prospect for more infrastructure investment as a divided Government battles about how to cut the $1.3 trillion deficit and Slate and Local Governments face their own budget shortfalls. Government investment in highways, bridges, water systems, schools and other projects has fallen each year since 2008. lHS Global insight expects such outlays to drop by 4.4% this year and 3% in the next year. According to experts, the country is spending about half of the $2.2 trillion that it should over a five-year period to repair and expand overburdened infrastructure.

      126). Which of the following is TRUE in the context of the passage and according to the author?
      A). Despite being in a poor state, carrier ships rarely break down.
      B). Half the number of locks in the author's country is expected to fail in few years.
      C). Despite adequate investments in Infrastructure by Government, the economy has failed to improve.
      D). There have always been frequent power failures in the author's country.
      E). None of the given statements is true.
      127). As mentioned in the passage, when the economic condition of the author's country begins to improve ....... ..
      A). an upward trend in personal savings will he observed.
      B). products will become cheaper.
      C). imports and exports will witness a setback.
      D). everybody will be employed.
      E). start-up businesses will perish due to already established ones.
      128). The author in the passage can be seen as being ..........
      A). Optimistic
      B). Ecstatic
      C). Stunned
      D). Worried
      E). Relieved
      129). Which of the following is most nearly the opposite in meaning to the word 'SKYROCKET' as used in the passage ?
      A). Reduce
      B). Support
      C). Worse
      D). Fail
      E). Shoot
      130). Which of the following correctly explains the meaning of the phrase, 'as quiet as a mouse' as used in the passage for the inland waterways ?
      A). Destroy quickly
      B). Contribute silently
      C). Move rapidly
      D). Change swiftly
      E). Staying inactive
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