Topic : cloze test
Directions (1-15): In the passage given below there are blanks which are to be filled with the options given below. Find out the appropriate word in each case which can most suitably complete the sentence without altering the meaning of the statement.
Q1. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) developed
(b) sprouted
(c) encouraged
(d) consolidated
(e) inclined
Q2. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) stage
(b) dias
(c) base
(d) platform
(e) purview
Q3. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) calculated
(b) estimated
(c) included
(d) excluded
(e) considered
Q4. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) treasure
(b) savings
(c) pool
(d) funds
(e) collection
Q5. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) intermediation
(b) intermittent
(c) intervention
(d) interstatute
(e) interconnecting
Q6. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) identifies
(b) considers
(c) takes
(d) estimates
(e) regulates
Q7. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) advancing
(b) financial
(c) commercializing
(d) capitalizing
(e) financing
Q8. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) contrasted
(b) calculated
(c) compared
(d) considered
(e) identified
Q9. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) charged on
(b) charged of
(c) charged at
(d) charged
(e) charged as
Q10. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) circulated
(b) provided
(c) donated
(d) collected
(e) caught
Q11. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) aims
(b) sets
(c) goals
(d) calls
(e) dreams
Q12. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) circulating
(b) popular
(c) regulating
(d) dormant
(e) active
Q13. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) charging
(b) eliminating
(c) selecting
(d) taking
(e) initiating
Q14. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) minimization
(b) maximization
(c) utilisation
(d) circulation
(e) rennovation
Q15. Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
(a) deters
(b) confers
(c) contraints
(d) abstains
(e) incites
Solutions:
S1. Ans.(b)
Sol. sprouted-grown up. Thus, option(b) is correct.
S2. Ans.(d)
Sol. ‘platform’ is the best suited alternative here as Cumplo offers a platform which connects the investors with borrowers.’Cumplo offers a digital (2)platform(a place or opportunity to express) connecting investors and borrowers’.
purview- enacting part of statute
S3. Ans.(e)
Sol. considered-to think about seriously
S4. Ans.(c)
Sol. pool-a supply of resources
S5. Ans.(a)
Sol. intermediation-intervention; an act of coming between
intermittent-stopping and starting at intervals
internment-confinement with narrow limits
interstatute-(It is an incorrect word)
interconnecting-connecting internally (in between)
S6. Ans.(d)
Sol. estimates-a general idea of the size, value or cost of
S7. Ans.(e)
Sol. financing-to provide funds/finance for
S8. Ans.(c)
Sol. compared-to assess the similarities and differences of two or more things
contrasted-to differentiate between two objects
S9. Ans.(d)
Sol. charged-levied
S10. Ans.(b)
Sol. provided-given
S11. Ans.(a)
Sol. aims-to set target
S12. Ans.(e)
Sol. active-up and doing….(People in Brazil are active on social media through smartphones)
S13. Ans.(b)
Sol. eliminating-excluding
S14. Ans.(c)
Sol. utilisation-the act of using something
S15. Ans.(a)
Sol. deters-to prevent something from happening
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