SBI PO 2015 PYQs

Question 1

Directions (Qs 6-15): Read the following passage carefully and answer the questions given below it.Certain words/phrases have been given in
bold
to help you locate them while answering some of the questions.
Manufacturers of consumer packaged goods (CPG) face two key challenges this year. The first is continued slow or negative growth in people’s disposable incomes. The second is changing consumer attitudes toward products and brands, as the great fragmentation of consumer markets take another turn. In response, companies must dramatically shift the route they take to reach consumers in terms of both product distribution and communications. In many markets, consumer wages have been static for five years now. Even where economies are starting to perform better, the squeeze on after -tax wages, especially for the middle class younger people and families, is
depressing
consumer spending. Although growth in developing countries is still better than in the United States and Europe, a slowdown in emerging countries such as China - where many countries had hoped for higher sales- has translated quickly into lower-than expected consumer spending growth.
Meanwhile, what we call the great fragmentation is manifested in consumer behaviour and market response. In both developed and emerging markets, there is a wider variety among consumers now than at any time in the recent past. Growth is evident both at the top of the market (where more consumers are spending for higher-quality food and other packaged goods) and at the lower end (where an increasing number of consumers are concentrating on value). But the traditional middle of the market is
shrinking
.
Further, individual consumer behaviour is more pluralistic. We are used to seeing, for example, spirits buyers purchasing a premium brand in a bar, a less costly label at home for personal consumption and yet another when entertaining guests. But this type of
variegated
shopping has now spread to the grocery basket as well. Fewer consumers are making one big stocking-up trip each week. Instead, shoppers are visiting a premium store and a discounter as well as a supermarket,in multiple weekly shops ¾ in addition to making frequent purchases online. During recession, more shoppers became inclined to spend time hunting for bargains and as some traditional retailers either went out of business or
shuttered
down, retail space was freed up and was often filled by convenience stores, specialty shops, and discounters.
A decade ago, VCPG companies had only a handful of sales channels to consider supermarkets, convenience stores, hypermarkets in advanced economies and traditional small and large retailers in emerging countries. Since then, various discounters have made-significant inroads, including no frills, low variety outlets, such as Europe’s Aldi and Lidi, which sell a limited range of private-label grocery items in smaller stores and massive warehouse clubs, such as Costco and Sam’s club, which initially operated solely in the U.S. but are now expanding internationally. In addition, dollar stores, specialised retailers, and online merchants are having an impact on the CPG landscape, Economising consumers have been pleasantly, surprised by the savings generated by spreading their business among multiple channels, as well as by the variety and product quality they find. The result has been greater demand for more products and brands, with different sizes, packaging and sales methods. At most CPG companies, SKUs are proliferating despite there being little increase in overall consumption. A better outcome can be seen at smaller food and beverage suppliers, which are benefiting from consumer demand for variety and authenticity. A recent report found that in the U.S., small manufacturers (with revenues of less than US
\
\backslash
\
l
b
i
l
l
i
o
n
)
g
r
e
w
a
t
t
w
i
c
e
t
h
e
c
o
m
p
o
u
n
d
a
n
n
u
a
l
r
a
t
e
o
f
l
a
r
g
e
m
a
n
u
f
a
c
t
u
r
e
r
s
(
w
i
t
h
r
e
v
e
n
u
e
s
o
f
m
o
r
e
t
h
a
n
l billion) grew at twice the compound annual rate of large manufacturers (with revenues of more than
l
bi
ll
i
o
n
)
g
re
w
a
ttw
i
ce
t
h
eco
m
p
o
u
n
d
ann
u
a
l
r
a
t
eo
f
l
a
r
g
e
man
u
f
a
c
t
u
rers
(
w
i
t
h
re
v
e
n
u
eso
f
m
ore
t
han
\$$ 3 billion  between 2009 and 2012.
Consumers’ media usage has also fragmented with the rise of digital content and the proliferation of online devices. Each channel- from the Web, Mobile and social sites for radio, TV, and printhasits own requirements, audience appeal and economies, needing specialised attention. But, at the same time, media campaigns need to be closely coordinated for effective consumer messaging.
Collectively, these shifts challenge the way CPG companies manage their brand and business portfolios and call for a rethinking of their go-to-market approach, with an emphasis on analytics. Our work with INSEAD shows that among business leaders, applying analytics-especially for tracking consumer behaviour and product and promotional performance- considered one of the most effective ways to improve results and outpace the competition. But it’s not just about insight. It’s also about using the insight wisely to determine how to manage costs. The more knowledgeable about customer needs and preferences a company is, the smarter and more focused it must be in managing its own economics to cost-effectively deliver both variety and value to be squeezed consumer.

Which of the following correctly explains the meaning of phrase, ‘a handful of ’ as used in the passage ?

Accepted Answer

The phrase 'a handful of' means a small, limited number or amount. Therefore, 'Limited' is the correct explanation.

Question 2

Directions (Qs 6-15): Read the following passage carefully and answer the questions given.
Certain words/phrases have been given in
bold
to help you locate them while answering some of the questions
From a technical and economic perspective, many assessments have highlighted the presence of cost-effective opportunities to reduce energy use in buildings. However several bodies note the significance of multiple barriers that prevent the take-up of energy efficiency measures in buildings. These include lack of awareness and concern,limited access to reliable information from trusted sources,fear about risk, disruption and other‘transaction costs’ concerns about up-front costs and inadequate access to suitably priced finance,a lack of confidence in suppliers and technologies and the presence of split incentives between landlords and tenants. The widespread presence of these barriers led experts to predict that without a
concerted
push from policy, two thirds of the economically viable potential to improve energy efficiency will remain
unexploited
by 2035. These barriers are
albatross around the neck
that represent a classic market failure and a basis for governmental intervention.
While these measurements focus on the technical, financial or economic barriers preventing the take-up of energy efficiency options in buildings, others emphasise the significance of the often deeply embedded social practices that shape energy use in buildings.These analyses focus not on the preferences and rationalities that might shape individual behaviours,but on the ‘entangled’ cultural practices, norms, values and routines that
underpin
domestic energy use. Focusing on the practice related aspects of consumption generates very different conceptual framings and policy prescriptions than those that emerge from more traditional or mainstream perspectives.But the underlying case for government intervention to help to promote retrofit and the diffusion of more energy efficient particles is still apparent, even though the forms of intervention advocated are often very different to those that emerge from a more technical or economic perspective.
Based on the recognition of the multiple barriers to change and the social, economic and environmental benefits that could be realised if they were overcome, government support for retrofit (renovating existing infrastructure to make it more energy efficient) has been widespread. Retrofit programmes have been supported and adopted in diverse forms in many setting and their ability to recruit householder sand then to impact their energy use has been discussed quite extensively. Frequently, these discussions have criticised the extent to which retrofit schemes rely on incentives and the provision of new technologies to change behaviour whilst ignoring the many other factors that might limit either participation in the schemes or their impact on the behaviours and practices that shape domestic energy use. These factors are obviously central to the success of retrofit schemes, but evaluations of different schemes have found that despite these they can still have significant impacts.
Few experts that the best estimate of the gap between the technical potential and the actual in situperformance of energy efficiency measures is 50%, with 35% coming from performance gaps and 15%coming from ‘comfort taking’ or directre bound effects. They further suggest that the direct rebound effect of energy efficiency measures related to household heating is likley to be less than 30% while rebound effects for various domestic energy efficiency measures vary from 5 to 15% and arise mostly from in direct effects (i.e., where savings from energy efficiency lead to increased demand for goods and services).Other analyses also note that the gap between technical potential and actual performance is likely to vary by measure, with the range extending from 0% for measures such as solar water heating to 50% for measures such as improved heating controls. And others note that levels of comfort taking are likely to vary according to the levels of consumption and fuel poverty in the sample of homes where insulation is installed, with the range extending from 30% when considering homes across all income groups to around 60% when considering only lower income homes. The scale of these gaps is significant because it materially affects the impacts of retrofit schemes and expectations and perceptions of these impacts go on to influence levels of political, financial and public support for these schemes
The literature on retrofit highlights the presence of multiple barriers to change and the need for government support, if these are to be overcome. Although much has been written on the extent to which different forms of support enable the wider take-up of domestic energy efficiency measures, behaviours and practices, various areas of contestation remain and there is still an absence of
robust
ex-post evidence on the extent to which these schemes actually do lead to the social, economic and environmental benefits that are widely claimed.

Which of the following is most nearly the SAME in meaning to word ‘UNDERPIN’ as used in the passage ?

Accepted Answer

To 'underpin' means to support or form the basis of something. 'Determine' implies establishing or fixing something, which aligns with providing a foundational basis.

Question 3

CONFORM TO

Accepted Answer

To 'conform to' means to comply with rules or standards. Therefore, 'comply' is the most accurate synonym among the given options.

Question 4

Directions (Qs 6-15): Read the following passage carefully and answer the questions given below it.Certain words/phrases have been given in
bold
to help you locate them while answering some of the questions.
Manufacturers of consumer packaged goods (CPG) face two key challenges this year. The first is continued slow or negative growth in people’s disposable incomes. The second is changing consumer attitudes toward products and brands, as the great fragmentation of consumer markets take another turn. In response, companies must dramatically shift the route they take to reach consumers in terms of both product distribution and communications. In many markets, consumer wages have been static for five years now. Even where economies are starting to perform better, the squeeze on after -tax wages, especially for the middle class younger people and families, is
depressing
consumer spending. Although growth in developing countries is still better than in the United States and Europe, a slowdown in emerging countries such as China - where many countries had hoped for higher sales- has translated quickly into lower-than expected consumer spending growth.
Meanwhile, what we call the great fragmentation is manifested in consumer behaviour and market response. In both developed and emerging markets, there is a wider variety among consumers now than at any time in the recent past. Growth is evident both at the top of the market (where more consumers are spending for higher-quality food and other packaged goods) and at the lower end (where an increasing number of consumers are concentrating on value). But the traditional middle of the market is
shrinking
.
Further, individual consumer behaviour is more pluralistic. We are used to seeing, for example, spirits buyers purchasing a premium brand in a bar, a less costly label at home for personal consumption and yet another when entertaining guests. But this type of
variegated
shopping has now spread to the grocery basket as well. Fewer consumers are making one big stocking-up trip each week. Instead, shoppers are visiting a premium store and a discounter as well as a supermarket,in multiple weekly shops ¾ in addition to making frequent purchases online. During recession, more shoppers became inclined to spend time hunting for bargains and as some traditional retailers either went out of business or
shuttered
down, retail space was freed up and was often filled by convenience stores, specialty shops, and discounters.
A decade ago, VCPG companies had only a handful of sales channels to consider supermarkets, convenience stores, hypermarkets in advanced economies and traditional small and large retailers in emerging countries. Since then, various discounters have made-significant inroads, including no frills, low variety outlets, such as Europe’s Aldi and Lidi, which sell a limited range of private-label grocery items in smaller stores and massive warehouse clubs, such as Costco and Sam’s club, which initially operated solely in the U.S. but are now expanding internationally. In addition, dollar stores, specialised retailers, and online merchants are having an impact on the CPG landscape, Economising consumers have been pleasantly, surprised by the savings generated by spreading their business among multiple channels, as well as by the variety and product quality they find. The result has been greater demand for more products and brands, with different sizes, packaging and sales methods. At most CPG companies, SKUs are proliferating despite there being little increase in overall consumption. A better outcome can be seen at smaller food and beverage suppliers, which are benefiting from consumer demand for variety and authenticity. A recent report found that in the U.S., small manufacturers (with revenues of less than US
\
\backslash
\
l
b
i
l
l
i
o
n
)
g
r
e
w
a
t
t
w
i
c
e
t
h
e
c
o
m
p
o
u
n
d
a
n
n
u
a
l
r
a
t
e
o
f
l
a
r
g
e
m
a
n
u
f
a
c
t
u
r
e
r
s
(
w
i
t
h
r
e
v
e
n
u
e
s
o
f
m
o
r
e
t
h
a
n
l billion) grew at twice the compound annual rate of large manufacturers (with revenues of more than
l
bi
ll
i
o
n
)
g
re
w
a
ttw
i
ce
t
h
eco
m
p
o
u
n
d
ann
u
a
l
r
a
t
eo
f
l
a
r
g
e
man
u
f
a
c
t
u
rers
(
w
i
t
h
re
v
e
n
u
eso
f
m
ore
t
han
\$$ 3 billion  between 2009 and 2012.
Consumers’ media usage has also fragmented with the rise of digital content and the proliferation of online devices. Each channel- from the Web, Mobile and social sites for radio, TV, and printhasits own requirements, audience appeal and economies, needing specialised attention. But, at the same time, media campaigns need to be closely coordinated for effective consumer messaging.
Collectively, these shifts challenge the way CPG companies manage their brand and business portfolios and call for a rethinking of their go-to-market approach, with an emphasis on analytics. Our work with INSEAD shows that among business leaders, applying analytics-especially for tracking consumer behaviour and product and promotional performance- considered one of the most effective ways to improve results and outpace the competition. But it’s not just about insight. It’s also about using the insight wisely to determine how to manage costs. The more knowledgeable about customer needs and preferences a company is, the smarter and more focused it must be in managing its own economics to cost-effectively deliver both variety and value to be squeezed consumer.

As mentioned in the passage, one of the most critical factors that aids in catering to the needs of consumers is

Accepted Answer

The passage emphasizes understanding consumer needs first, then planning to meet them. Option 2 directly reflects this two-step process as the critical factor.

Question 5

Directions (Qs 6-15): Read the following passage carefully and answer the questions given below it.Certain words/phrases have been given in
bold
to help you locate them while answering some of the questions.
Manufacturers of consumer packaged goods (CPG) face two key challenges this year. The first is continued slow or negative growth in people’s disposable incomes. The second is changing consumer attitudes toward products and brands, as the great fragmentation of consumer markets take another turn. In response, companies must dramatically shift the route they take to reach consumers in terms of both product distribution and communications. In many markets, consumer wages have been static for five years now. Even where economies are starting to perform better, the squeeze on after -tax wages, especially for the middle class younger people and families, is
depressing
consumer spending. Although growth in developing countries is still better than in the United States and Europe, a slowdown in emerging countries such as China - where many countries had hoped for higher sales- has translated quickly into lower-than expected consumer spending growth.
Meanwhile, what we call the great fragmentation is manifested in consumer behaviour and market response. In both developed and emerging markets, there is a wider variety among consumers now than at any time in the recent past. Growth is evident both at the top of the market (where more consumers are spending for higher-quality food and other packaged goods) and at the lower end (where an increasing number of consumers are concentrating on value). But the traditional middle of the market is
shrinking
.
Further, individual consumer behaviour is more pluralistic. We are used to seeing, for example, spirits buyers purchasing a premium brand in a bar, a less costly label at home for personal consumption and yet another when entertaining guests. But this type of
variegated
shopping has now spread to the grocery basket as well. Fewer consumers are making one big stocking-up trip each week. Instead, shoppers are visiting a premium store and a discounter as well as a supermarket,in multiple weekly shops ¾ in addition to making frequent purchases online. During recession, more shoppers became inclined to spend time hunting for bargains and as some traditional retailers either went out of business or
shuttered
down, retail space was freed up and was often filled by convenience stores, specialty shops, and discounters.
A decade ago, VCPG companies had only a handful of sales channels to consider supermarkets, convenience stores, hypermarkets in advanced economies and traditional small and large retailers in emerging countries. Since then, various discounters have made-significant inroads, including no frills, low variety outlets, such as Europe’s Aldi and Lidi, which sell a limited range of private-label grocery items in smaller stores and massive warehouse clubs, such as Costco and Sam’s club, which initially operated solely in the U.S. but are now expanding internationally. In addition, dollar stores, specialised retailers, and online merchants are having an impact on the CPG landscape, Economising consumers have been pleasantly, surprised by the savings generated by spreading their business among multiple channels, as well as by the variety and product quality they find. The result has been greater demand for more products and brands, with different sizes, packaging and sales methods. At most CPG companies, SKUs are proliferating despite there being little increase in overall consumption. A better outcome can be seen at smaller food and beverage suppliers, which are benefiting from consumer demand for variety and authenticity. A recent report found that in the U.S., small manufacturers (with revenues of less than US
\
\backslash
\
l
b
i
l
l
i
o
n
)
g
r
e
w
a
t
t
w
i
c
e
t
h
e
c
o
m
p
o
u
n
d
a
n
n
u
a
l
r
a
t
e
o
f
l
a
r
g
e
m
a
n
u
f
a
c
t
u
r
e
r
s
(
w
i
t
h
r
e
v
e
n
u
e
s
o
f
m
o
r
e
t
h
a
n
l billion) grew at twice the compound annual rate of large manufacturers (with revenues of more than
l
bi
ll
i
o
n
)
g
re
w
a
ttw
i
ce
t
h
eco
m
p
o
u
n
d
ann
u
a
l
r
a
t
eo
f
l
a
r
g
e
man
u
f
a
c
t
u
rers
(
w
i
t
h
re
v
e
n
u
eso
f
m
ore
t
han
\$$ 3 billion  between 2009 and 2012.
Consumers’ media usage has also fragmented with the rise of digital content and the proliferation of online devices. Each channel- from the Web, Mobile and social sites for radio, TV, and printhasits own requirements, audience appeal and economies, needing specialised attention. But, at the same time, media campaigns need to be closely coordinated for effective consumer messaging.
Collectively, these shifts challenge the way CPG companies manage their brand and business portfolios and call for a rethinking of their go-to-market approach, with an emphasis on analytics. Our work with INSEAD shows that among business leaders, applying analytics-especially for tracking consumer behaviour and product and promotional performance- considered one of the most effective ways to improve results and outpace the competition. But it’s not just about insight. It’s also about using the insight wisely to determine how to manage costs. The more knowledgeable about customer needs and preferences a company is, the smarter and more focused it must be in managing its own economics to cost-effectively deliver both variety and value to be squeezed consumer.

Which of the following is most nearly the SAME in meaning to the word ‘SHRINKING’ as used in the passage ?

Accepted Answer

Shrinking means becoming smaller in size or extent. 'Narrowing' accurately captures this meaning, implying a reduction in width or scope, which is contextually similar.

Question 6

Directions (Qs 6-15): Read the following passage carefully and answer the questions given.
Certain words/phrases have been given in
bold
to help you locate them while answering some of the questions
From a technical and economic perspective, many assessments have highlighted the presence of cost-effective opportunities to reduce energy use in buildings. However several bodies note the significance of multiple barriers that prevent the take-up of energy efficiency measures in buildings. These include lack of awareness and concern,limited access to reliable information from trusted sources,fear about risk, disruption and other‘transaction costs’ concerns about up-front costs and inadequate access to suitably priced finance,a lack of confidence in suppliers and technologies and the presence of split incentives between landlords and tenants. The widespread presence of these barriers led experts to predict that without a
concerted
push from policy, two thirds of the economically viable potential to improve energy efficiency will remain
unexploited
by 2035. These barriers are
albatross around the neck
that represent a classic market failure and a basis for governmental intervention.
While these measurements focus on the technical, financial or economic barriers preventing the take-up of energy efficiency options in buildings, others emphasise the significance of the often deeply embedded social practices that shape energy use in buildings.These analyses focus not on the preferences and rationalities that might shape individual behaviours,but on the ‘entangled’ cultural practices, norms, values and routines that
underpin
domestic energy use. Focusing on the practice related aspects of consumption generates very different conceptual framings and policy prescriptions than those that emerge from more traditional or mainstream perspectives.But the underlying case for government intervention to help to promote retrofit and the diffusion of more energy efficient particles is still apparent, even though the forms of intervention advocated are often very different to those that emerge from a more technical or economic perspective.
Based on the recognition of the multiple barriers to change and the social, economic and environmental benefits that could be realised if they were overcome, government support for retrofit (renovating existing infrastructure to make it more energy efficient) has been widespread. Retrofit programmes have been supported and adopted in diverse forms in many setting and their ability to recruit householder sand then to impact their energy use has been discussed quite extensively. Frequently, these discussions have criticised the extent to which retrofit schemes rely on incentives and the provision of new technologies to change behaviour whilst ignoring the many other factors that might limit either participation in the schemes or their impact on the behaviours and practices that shape domestic energy use. These factors are obviously central to the success of retrofit schemes, but evaluations of different schemes have found that despite these they can still have significant impacts.
Few experts that the best estimate of the gap between the technical potential and the actual in situperformance of energy efficiency measures is 50%, with 35% coming from performance gaps and 15%coming from ‘comfort taking’ or directre bound effects. They further suggest that the direct rebound effect of energy efficiency measures related to household heating is likley to be less than 30% while rebound effects for various domestic energy efficiency measures vary from 5 to 15% and arise mostly from in direct effects (i.e., where savings from energy efficiency lead to increased demand for goods and services).Other analyses also note that the gap between technical potential and actual performance is likely to vary by measure, with the range extending from 0% for measures such as solar water heating to 50% for measures such as improved heating controls. And others note that levels of comfort taking are likely to vary according to the levels of consumption and fuel poverty in the sample of homes where insulation is installed, with the range extending from 30% when considering homes across all income groups to around 60% when considering only lower income homes. The scale of these gaps is significant because it materially affects the impacts of retrofit schemes and expectations and perceptions of these impacts go on to influence levels of political, financial and public support for these schemes
The literature on retrofit highlights the presence of multiple barriers to change and the need for government support, if these are to be overcome. Although much has been written on the extent to which different forms of support enable the wider take-up of domestic energy efficiency measures, behaviours and practices, various areas of contestation remain and there is still an absence of
robust
ex-post evidence on the extent to which these schemes actually do lead to the social, economic and environmental benefits that are widely claimed.

What is the author trying to convey through the phrase‘albatross around the neck’as used in the passage ?

Accepted Answer

The idiom 'albatross around the neck' refers to a burden that impedes progress or success. Therefore, option 2 correctly captures this meaning.

Question 7

Select the word most OPPOSITE in meaning to the given word.

CAPRICIOUS

Accepted Answer

Capricious means sudden, unpredictable changes. Therefore, its antonym is 'predictable', meaning able to be foreseen or declared in advance.

Question 8

Directions (Qs 6-15): Read the following passage carefully and answer the questions given below it.Certain words/phrases have been given in
bold
to help you locate them while answering some of the questions.
Manufacturers of consumer packaged goods (CPG) face two key challenges this year. The first is continued slow or negative growth in people’s disposable incomes. The second is changing consumer attitudes toward products and brands, as the great fragmentation of consumer markets take another turn. In response, companies must dramatically shift the route they take to reach consumers in terms of both product distribution and communications. In many markets, consumer wages have been static for five years now. Even where economies are starting to perform better, the squeeze on after -tax wages, especially for the middle class younger people and families, is
depressing
consumer spending. Although growth in developing countries is still better than in the United States and Europe, a slowdown in emerging countries such as China - where many countries had hoped for higher sales- has translated quickly into lower-than expected consumer spending growth.
Meanwhile, what we call the great fragmentation is manifested in consumer behaviour and market response. In both developed and emerging markets, there is a wider variety among consumers now than at any time in the recent past. Growth is evident both at the top of the market (where more consumers are spending for higher-quality food and other packaged goods) and at the lower end (where an increasing number of consumers are concentrating on value). But the traditional middle of the market is
shrinking
.
Further, individual consumer behaviour is more pluralistic. We are used to seeing, for example, spirits buyers purchasing a premium brand in a bar, a less costly label at home for personal consumption and yet another when entertaining guests. But this type of
variegated
shopping has now spread to the grocery basket as well. Fewer consumers are making one big stocking-up trip each week. Instead, shoppers are visiting a premium store and a discounter as well as a supermarket,in multiple weekly shops ¾ in addition to making frequent purchases online. During recession, more shoppers became inclined to spend time hunting for bargains and as some traditional retailers either went out of business or
shuttered
down, retail space was freed up and was often filled by convenience stores, specialty shops, and discounters.
A decade ago, VCPG companies had only a handful of sales channels to consider supermarkets, convenience stores, hypermarkets in advanced economies and traditional small and large retailers in emerging countries. Since then, various discounters have made-significant inroads, including no frills, low variety outlets, such as Europe’s Aldi and Lidi, which sell a limited range of private-label grocery items in smaller stores and massive warehouse clubs, such as Costco and Sam’s club, which initially operated solely in the U.S. but are now expanding internationally. In addition, dollar stores, specialised retailers, and online merchants are having an impact on the CPG landscape, Economising consumers have been pleasantly, surprised by the savings generated by spreading their business among multiple channels, as well as by the variety and product quality they find. The result has been greater demand for more products and brands, with different sizes, packaging and sales methods. At most CPG companies, SKUs are proliferating despite there being little increase in overall consumption. A better outcome can be seen at smaller food and beverage suppliers, which are benefiting from consumer demand for variety and authenticity. A recent report found that in the U.S., small manufacturers (with revenues of less than US
\
\backslash
\
l
b
i
l
l
i
o
n
)
g
r
e
w
a
t
t
w
i
c
e
t
h
e
c
o
m
p
o
u
n
d
a
n
n
u
a
l
r
a
t
e
o
f
l
a
r
g
e
m
a
n
u
f
a
c
t
u
r
e
r
s
(
w
i
t
h
r
e
v
e
n
u
e
s
o
f
m
o
r
e
t
h
a
n
l billion) grew at twice the compound annual rate of large manufacturers (with revenues of more than
l
bi
ll
i
o
n
)
g
re
w
a
ttw
i
ce
t
h
eco
m
p
o
u
n
d
ann
u
a
l
r
a
t
eo
f
l
a
r
g
e
man
u
f
a
c
t
u
rers
(
w
i
t
h
re
v
e
n
u
eso
f
m
ore
t
han
\$$ 3 billion  between 2009 and 2012.
Consumers’ media usage has also fragmented with the rise of digital content and the proliferation of online devices. Each channel- from the Web, Mobile and social sites for radio, TV, and printhasits own requirements, audience appeal and economies, needing specialised attention. But, at the same time, media campaigns need to be closely coordinated for effective consumer messaging.
Collectively, these shifts challenge the way CPG companies manage their brand and business portfolios and call for a rethinking of their go-to-market approach, with an emphasis on analytics. Our work with INSEAD shows that among business leaders, applying analytics-especially for tracking consumer behaviour and product and promotional performance- considered one of the most effective ways to improve results and outpace the competition. But it’s not just about insight. It’s also about using the insight wisely to determine how to manage costs. The more knowledgeable about customer needs and preferences a company is, the smarter and more focused it must be in managing its own economics to cost-effectively deliver both variety and value to be squeezed consumer.

Which of the following is most nearly the SAME in meaning to the word ‘VARIEGATED’ as used in the passage ?

Accepted Answer

Variegated means having irregular patches of different colors or being diverse. 'Diverse' is the closest synonym among the options, meaning varied or different.

Question 9

Directions (Qs 6-15): Read the following passage carefully and answer the questions given.
Certain words/phrases have been given in
bold
to help you locate them while answering some of the questions
From a technical and economic perspective, many assessments have highlighted the presence of cost-effective opportunities to reduce energy use in buildings. However several bodies note the significance of multiple barriers that prevent the take-up of energy efficiency measures in buildings. These include lack of awareness and concern,limited access to reliable information from trusted sources,fear about risk, disruption and other‘transaction costs’ concerns about up-front costs and inadequate access to suitably priced finance,a lack of confidence in suppliers and technologies and the presence of split incentives between landlords and tenants. The widespread presence of these barriers led experts to predict that without a
concerted
push from policy, two thirds of the economically viable potential to improve energy efficiency will remain
unexploited
by 2035. These barriers are
albatross around the neck
that represent a classic market failure and a basis for governmental intervention.
While these measurements focus on the technical, financial or economic barriers preventing the take-up of energy efficiency options in buildings, others emphasise the significance of the often deeply embedded social practices that shape energy use in buildings.These analyses focus not on the preferences and rationalities that might shape individual behaviours,but on the ‘entangled’ cultural practices, norms, values and routines that
underpin
domestic energy use. Focusing on the practice related aspects of consumption generates very different conceptual framings and policy prescriptions than those that emerge from more traditional or mainstream perspectives.But the underlying case for government intervention to help to promote retrofit and the diffusion of more energy efficient particles is still apparent, even though the forms of intervention advocated are often very different to those that emerge from a more technical or economic perspective.
Based on the recognition of the multiple barriers to change and the social, economic and environmental benefits that could be realised if they were overcome, government support for retrofit (renovating existing infrastructure to make it more energy efficient) has been widespread. Retrofit programmes have been supported and adopted in diverse forms in many setting and their ability to recruit householder sand then to impact their energy use has been discussed quite extensively. Frequently, these discussions have criticised the extent to which retrofit schemes rely on incentives and the provision of new technologies to change behaviour whilst ignoring the many other factors that might limit either participation in the schemes or their impact on the behaviours and practices that shape domestic energy use. These factors are obviously central to the success of retrofit schemes, but evaluations of different schemes have found that despite these they can still have significant impacts.
Few experts that the best estimate of the gap between the technical potential and the actual in situperformance of energy efficiency measures is 50%, with 35% coming from performance gaps and 15%coming from ‘comfort taking’ or directre bound effects. They further suggest that the direct rebound effect of energy efficiency measures related to household heating is likley to be less than 30% while rebound effects for various domestic energy efficiency measures vary from 5 to 15% and arise mostly from in direct effects (i.e., where savings from energy efficiency lead to increased demand for goods and services).Other analyses also note that the gap between technical potential and actual performance is likely to vary by measure, with the range extending from 0% for measures such as solar water heating to 50% for measures such as improved heating controls. And others note that levels of comfort taking are likely to vary according to the levels of consumption and fuel poverty in the sample of homes where insulation is installed, with the range extending from 30% when considering homes across all income groups to around 60% when considering only lower income homes. The scale of these gaps is significant because it materially affects the impacts of retrofit schemes and expectations and perceptions of these impacts go on to influence levels of political, financial and public support for these schemes
The literature on retrofit highlights the presence of multiple barriers to change and the need for government support, if these are to be overcome. Although much has been written on the extent to which different forms of support enable the wider take-up of domestic energy efficiency measures, behaviours and practices, various areas of contestation remain and there is still an absence of
robust
ex-post evidence on the extent to which these schemes actually do lead to the social, economic and environmental benefits that are widely claimed.

The author in the given passage is _______(A) of the view that no  amount of efforts can bring about in employing energy efficiency schemes in his country.(B) positive that more evidence on retrofit schemes is essential to make people more aware and sensitive towards them.(C) cynical about the present state of energy efficiency measures taken in his country.

Accepted Answer

The passage suggests the author believes more evidence is needed to promote energy efficiency, indicating a positive outlook on potential improvements, aligning with option B.

Question 10

Directions (Qs 6-15): Read the following passage carefully and answer the questions given below it.Certain words/phrases have been given in
bold
to help you locate them while answering some of the questions.
Manufacturers of consumer packaged goods (CPG) face two key challenges this year. The first is continued slow or negative growth in people’s disposable incomes. The second is changing consumer attitudes toward products and brands, as the great fragmentation of consumer markets take another turn. In response, companies must dramatically shift the route they take to reach consumers in terms of both product distribution and communications. In many markets, consumer wages have been static for five years now. Even where economies are starting to perform better, the squeeze on after -tax wages, especially for the middle class younger people and families, is
depressing
consumer spending. Although growth in developing countries is still better than in the United States and Europe, a slowdown in emerging countries such as China - where many countries had hoped for higher sales- has translated quickly into lower-than expected consumer spending growth.
Meanwhile, what we call the great fragmentation is manifested in consumer behaviour and market response. In both developed and emerging markets, there is a wider variety among consumers now than at any time in the recent past. Growth is evident both at the top of the market (where more consumers are spending for higher-quality food and other packaged goods) and at the lower end (where an increasing number of consumers are concentrating on value). But the traditional middle of the market is
shrinking
.
Further, individual consumer behaviour is more pluralistic. We are used to seeing, for example, spirits buyers purchasing a premium brand in a bar, a less costly label at home for personal consumption and yet another when entertaining guests. But this type of
variegated
shopping has now spread to the grocery basket as well. Fewer consumers are making one big stocking-up trip each week. Instead, shoppers are visiting a premium store and a discounter as well as a supermarket,in multiple weekly shops ¾ in addition to making frequent purchases online. During recession, more shoppers became inclined to spend time hunting for bargains and as some traditional retailers either went out of business or
shuttered
down, retail space was freed up and was often filled by convenience stores, specialty shops, and discounters.
A decade ago, VCPG companies had only a handful of sales channels to consider supermarkets, convenience stores, hypermarkets in advanced economies and traditional small and large retailers in emerging countries. Since then, various discounters have made-significant inroads, including no frills, low variety outlets, such as Europe’s Aldi and Lidi, which sell a limited range of private-label grocery items in smaller stores and massive warehouse clubs, such as Costco and Sam’s club, which initially operated solely in the U.S. but are now expanding internationally. In addition, dollar stores, specialised retailers, and online merchants are having an impact on the CPG landscape, Economising consumers have been pleasantly, surprised by the savings generated by spreading their business among multiple channels, as well as by the variety and product quality they find. The result has been greater demand for more products and brands, with different sizes, packaging and sales methods. At most CPG companies, SKUs are proliferating despite there being little increase in overall consumption. A better outcome can be seen at smaller food and beverage suppliers, which are benefiting from consumer demand for variety and authenticity. A recent report found that in the U.S., small manufacturers (with revenues of less than US
\
\backslash
\
l
b
i
l
l
i
o
n
)
g
r
e
w
a
t
t
w
i
c
e
t
h
e
c
o
m
p
o
u
n
d
a
n
n
u
a
l
r
a
t
e
o
f
l
a
r
g
e
m
a
n
u
f
a
c
t
u
r
e
r
s
(
w
i
t
h
r
e
v
e
n
u
e
s
o
f
m
o
r
e
t
h
a
n
l billion) grew at twice the compound annual rate of large manufacturers (with revenues of more than
l
bi
ll
i
o
n
)
g
re
w
a
ttw
i
ce
t
h
eco
m
p
o
u
n
d
ann
u
a
l
r
a
t
eo
f
l
a
r
g
e
man
u
f
a
c
t
u
rers
(
w
i
t
h
re
v
e
n
u
eso
f
m
ore
t
han
\$$ 3 billion  between 2009 and 2012.
Consumers’ media usage has also fragmented with the rise of digital content and the proliferation of online devices. Each channel- from the Web, Mobile and social sites for radio, TV, and printhasits own requirements, audience appeal and economies, needing specialised attention. But, at the same time, media campaigns need to be closely coordinated for effective consumer messaging.
Collectively, these shifts challenge the way CPG companies manage their brand and business portfolios and call for a rethinking of their go-to-market approach, with an emphasis on analytics. Our work with INSEAD shows that among business leaders, applying analytics-especially for tracking consumer behaviour and product and promotional performance- considered one of the most effective ways to improve results and outpace the competition. But it’s not just about insight. It’s also about using the insight wisely to determine how to manage costs. The more knowledgeable about customer needs and preferences a company is, the smarter and more focused it must be in managing its own economics to cost-effectively deliver both variety and value to be squeezed consumer.

Which of the following is most nearly the OPPOSITE in meaning to the word ‘SHUTTERED’ as used in the passage ?

Accepted Answer

The word 'shuttered' implies closing down or ceasing operation. Therefore, its opposite would be to thrive or grow, which is 'flourished'.

Question 11

After his term in the Department of Defence (1)/ he was appointed Secretary of Energy (2)/a job in which he was strongly supported the use (3)/ of alternate sources of energy such as nuclear energy. (4)/ No error (5)

Accepted Answer

The error is in part (3). The phrase should be 'strongly supported the use' instead of 'strongly supported the use'. The verb 'support' does not require a preposition like 'the use of'.

Question 12

Owners of private hostels located in residential areas are not only _______ taxes but are also functioning whimsically in the _______ of any regulatory body.

Accepted Answer

The sentence implies illegal or unethical tax practices and lack of oversight. 'Evading' (avoiding illegally) and 'absence' (lack of presence) fit this context perfectly, making option 4 the best choice.

Question 13

Directions (Qs 16-20): Rearrange the following six sentences (A), (B), (C),(D), (E) and (F) in the proper sequence to form meaningful paragraph; then answer the questions given below them.
them.(A) Colony losses last year weren’t as dramatic as the declines associated with Colony Collapse Disorder (CCD), which was first identified in October 2006.
(B) Beekeepers tapped for the survey manage a total of 400,000 colonies, representing about 14.5 percent of the United States’ honeybee colonies.
(C) Overall, colony losses during the 12-month period that ended in April reached 42.1 percent— the second-highest annual loss to date.
(D) Summer colony losses reached 27.4 percent, exceeding winter losses that came in at 23.7 percent.
(E) For the first time, beekeepers watched more of their colonies disappear during the summer than in winter.
(F) A new survey outlining honeybee colony losses in the U.S. has scientists scratchingtheir heads.

Which of the following should bethe SECOND sentence after rearrangement?

Accepted Answer

To identify the second sentence, one must first determine the opening sentence. The second sentence logically follows the introductory statement, building upon its context or introducing the next key idea.

Question 14

As GDP growth is half of what it (1)/ is just a few years ago,the country (2)/ desperately needs to cut red tape and improve (3)/ infrastructure to boost investment and growth.(4)/ No error (5)

Accepted Answer

The phrase 'just a few years ago' indicates a past event. Therefore, 'is' should be replaced with 'was' to maintain correct tense agreement in the sentence.

Question 15

Contractors across the State have ________ to stop work on the scheme after the Minister failed to give them concrete __________ of timely payment.

Accepted Answer

The first blank requires a verb indicating a firm resolution, 'decided' fits best. The second blank needs a noun for a promise of payment, 'assurance' is the most appropriate choice.

Question 16

Directions (Qs 16-20): Rearrange the following six sentences (A), (B), (C),(D), (E) and (F) in the proper sequence to form meaningful paragraph; then answer the questions given below them.
them.(A) Colony losses last year weren’t as dramatic as the declines associated with Colony Collapse Disorder (CCD), which was first identified in October 2006.
(B) Beekeepers tapped for the survey manage a total of 400,000 colonies, representing about 14.5 percent of the United States’ honeybee colonies.
(C) Overall, colony losses during the 12-month period that ended in April reached 42.1 percent— the second-highest annual loss to date.
(D) Summer colony losses reached 27.4 percent, exceeding winter losses that came in at 23.7 percent.
(E) For the first time, beekeepers watched more of their colonies disappear during the summer than in winter.
(F) A new survey outlining honeybee colony losses in the U.S. has scientists scratchingtheir heads.

Which of the following should be the SIXTH sentence after rearrangement.

Accepted Answer

To find the sixth sentence, first identify the logical flow and connections between all sentences. Arrange them sequentially to form a coherent paragraph, then pinpoint the sentence that falls into the sixth position.

Question 17

When elections in the countryare due shortly (1)/ people are determined to register asvoters and to vote for (2)/ candidatesbased on their trackrecord and the programmes(3)/ that they intend to implementfor the betterment of thecountry. (4)/ No error (5)

Accepted Answer

The phrase 'register as voters and to vote for' is grammatically incorrect. It should be 'register as voters and vote for' to maintain parallel structure with 'to register'.

Question 18

Every third person visiting adoctor happens to ________from a clinical or psychologicaldisorder ________ with temblors.

Accepted Answer

The best fit for the first blank is 'suffer' as it implies experiencing a disorder. 'Associated' correctly links the disorder with temblors, making option 3 the most coherent choice.

Question 19

At least a quarter of the World’s corals have lost (1)/over the past twenty-five years and as climate change warms(2)/ the oceans the additional carbon dioxide will make (3)/the water more acidic further destroying coral reefs. (4)/ No error (5)

Accepted Answer

The phrase 'a quarter of' takes a plural verb when referring to a plural noun like 'corals'. Therefore, 'have lost' should be 'have been lost' to indicate a passive voice, as corals are being lost, not losing something.

Question 20

__________ makes the actress trip to the country different this year is that she is ________ to raise funds for the biopic of a literary icon.

Accepted Answer

The first blank requires an interrogative pronoun 'What' to introduce the subject. The second blank needs 'looking' to form the phrasal verb 'looking to raise funds', which fits the context of seeking to achieve something.