Reading Comprehension Test for SBI PO Prelims 2017

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Q.Read the following passage carefully and answer the questions given below it. Certain words are given in bold to help you locate them while answering some of the questions.

India has slapped anti-dumping duty on import ofglass fibre from China to protect domestic industry from cheaper shipments. The Finance Ministryin a notification imposed an anti- dumping duty of up to 47.15 per cent of CIF value of import of glass fibre from Chinafor five years to August 31, 2021.

India had first imposed anti-dumping duty on import of glass fibre from Chinain 2013 and was in 2015 extended by one year to July 13, 2016.  Directorate General of Anti Dumping (DGAD) has in a review in July this year concluded that glass fibre have been exported to Indiafrom Chinabelow its normal value. Fibre glass from Chinawas entering into “the Indian market at dumped prices” and “the domestic industry has suffered material injury.”Stating that there is likelihood of recurrence of injury in case of cessation of anti-dumping duties, DGAD had recommended continuation of ad-valorem antidumping duty as a percentage of the CIF value of imports” from China.Following DGAD recommendation, the Finance Ministryimposed an anti-dumping duty of 33.11 per cent of CIF value on import of glass fibre manufactured by Taishan Fibreglass Inc, 24.59 per cent on the same produced by Jushi Group Jiujiang Co Ltd and 20.46 per cent on that made by Chongquing Polycomp International Corporation (CPIC). An anti-dumping duty of 47.15 per cent was imposed on any other producer of glass fibre from China, the notification said.

 “The anti-dumping duty imposed under this notification shall be effective for a period of five years (unless revoked, amended or superseded earlier),” it said.Glass fibre include glass roving, direct rovings, glass chopped strands and glass chopped strands mats. Glass fibre articles are essentially a reinforcement material.“Specifically excluded from the scope of the product under consideration are glass wool, fibre glass wool, fibre glass insulation in wool form, glass yarn, glass woven fabrics, glass fibre fabric, glass woven rovings, chopped strands meant for thermoplastic applications, micro glass fibre used in battery separator, surface mat/surface veil/tissue, wet chopped strands and Cemfil (alkali resistant glass fibre for concrete reinforcement),” it said.

1.What can be understood of dumping from the passage?
A. Offloading of extra goods from neighbouring countries
B. Supply of goods in huge numbers to crash/ hijack the market
C. Supply of goods in huge numbers to crash/ hijack the market
D. Use of the extra goods produced
E. None of these

2.How many companies have been hit by the anti-dumping duty?
A. 1
B. 2
C.3
D. 4
E. None of these

3. Which of the following statements is/are True? A. Taishan fibre glass has been imposed with 29.25 % of duty B. Anti dumping is anti national C. China was been warned thrice before of the act
A. Only A
B. Only B
C. Only A and B
D. All
E. None

4.Why was the duty imposed?
A. Glass was being imported at below market prices
B. Glass fibre is in a protected category
C. Glass fibre was being imported at below market prices
D. Glass fibre was of low quality
E. None of these

5.How many times has the anti-dumping duty been extended?
A. One
B.Two
C. thrice
D. Never
E. None of these

6.Choose the word which is most SIMILAR in meaning to the word printed in bold as used in the passage-  Reinforcement
A. same
B. systematic
C. through
D. brace
E. Alleviation

7.Choose the word which is the same in meaning as the word given in bold as used    in the passage-Superseded
A. replaced
B. initiate
C. austerity
D. encipher
E. espouse

8.Choose the word which is the same in meaning as the word given in bold as used    in the passage-Recurrence
A. controlling
B. catalyze
C. occur again
D. relief
E. gash

9.Select the word which is most OPPOSITE in meaning of the word printed in bold as used in the passage.– Revoked
A. basic
B.torpid
C. continued
D. trailing
E. surliness

10.Select the word which is most OPPOSITE in meaning of the word printed in bold as used in the passage.– Amended
A. consequential
B.worsen
C. stabilized
D. anterior
E. None of these

 

 

Answers:- 

  1. B. Supply of goods in huge numbers to crash/ hijack the market.
  2. C.3
  3. E. None
  4. C. Glass fibre was being imported at below market prices.
  5. A. One
  6. D. brace
  7. A. replaced
  8. A. controlling
  9. C. continued
  10. B.worsen

 

       

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