A to Z in Banking

A to Z in Banking- a site for the Bankers

 

Passage 2

 

It is a strange that, according to his position in life, an extravagant man is admired or despised. A successful businessman does nothing to increase his popularity by being careful with his money. He is expected to display his success, to have smart car, an expensive life, and to be lavish with his hospitality. If he is not so, he is considered mean and his reputation in business may even suffer in consequence. The paradox remains that if he had not been careful with his money in the first place, he would never have achieved his present wealth. Among the two income groups, a different set of values exists. The young clerk who makes his wife a present of a new dress when he hadn’t paid his house rent, is condemned as extravagant. Carefullness with money to the point of meanness is applauded as a virtue. Nothing in his life is considered more worthy than paying his bills. The ideal wife for such a man separates her housekeeping money into joyless little piles- so much for rent, for food, for the children’s shoes; she is able to face the milkman with equanimity and never knows the guilt of buying something she can’t really afford. As for myself, I fall into neither of these categories. If I have money to spare, I can be extravagant, but when, as is usually the case, I am hard up, then I am the meanest man imaginable.

1. In the opinion of the writer, a successful businessman:
    (a) is more popular if he appears to be doing nothing.
    (b) should not bother about his popularity.
    (c) must be extravagant before achieving success.
    (d) is expected to have expensive tastes.

Ans (d)  

2. The phrase lavish with his hospitatlity signifies:
    (a) miserliness in dealing with his friends.
    (b) considerateness in spending on guests and strangers.
    (c) extravagance in entertaining guests.
    (d) indifference in treating his friends and relatives.

Ans (c)  

3. We understand from the passage that:
    (a) all mean people are wealthy
    (b) wealthy people are invariably successful.
    (c) carefulness generally leads to failure.
    (d) thrift may lead to success.

Ans (d)  

4. It seems that low paid people should:
    (a) not pay their bills promptly.
    (b) not keep their creditors waiting.
    (c) borrow money to meet their essential needs
    (d) feel guilty if they overspend

Ans (d)  

5. The word paradox means:
    (a) statement based on facts.
    (b) that which brings out the inner meaning.
    (c) that which is contrary to received opinion.
    (d) statement based on the popular opinion.

Ans (c)  

6. How does the housewife, described by the writer, feel when she saves money?
    (a) is content to be so thrifty.
    (b) wishes life were less burdensome.
    (c) is still troubled by a sense of guilt.
    (d) wishes she could sometimes be extravagant.

 Ans (a)  

7.Which of the following is opposite in meaning to the word applauded in the passage?
    (a) Humiliated
    (b) Decried
    (c) Cherished
    (d) Suppressed

 Ans (b)  

8. The statement she is able to face the milkman with equanimity implies that:
    (a) she is not upset as she has been paying the milkman his dues regularly.
    (b) she loses her nerve at the sight of the milkman who always demands his dues.
    (c) she manages to keep cool as she has to pay the milkman who always demads his dues.
    (d) she remains composed and confident as she knows that she can handle the milkman tactfully.

 Ans (a)  

9. As far as money is concerned, we get the impression that the writer:
    (a) is incapable of saving anything
    (b) is never inclined to be extravagant
    (c) would like to be considered extravagant
    (d) doesn’t often have any money to save.

Ans (d)  

10. Which of the following would be the most suitable title for the passage?
    (a) Extravagance leads to poverty
    (b) Miserly habits of the poor.
    (c) Extravagance in the life of the rich and the poor.
    (d) Extravagance is always condemnable.