Entrance Paper - Indian Institute of Foreign Trade - 2009, Study notes of Foreign Trade

Download Entrance Paper - Indian Institute of Foreign Trade - 2009 and more Study notes Foreign Trade in PDF only on Docsity! Question Booklet Serial No. ADMISSION TEST FOR PROGRAMME 2009-11 Time: 2 Hours Marks: 100 ROLL NUMBER NAME (in Capital Letters) INSTRUCTIONS 1. Write the Question Booklet Serial Number in the space provided in the Answer Sheet. Question Booklet Serial Number is given at the top of this page. 2. Write your Roll No. clearly in the space provided in both the Question Booklet and the Answer Sheet. 3. Mark your answers in the Answer Sheet only. The Answer Sheet alone will constitute the basis of evaluation. 4. All rough work must be done in the Question Booklet only. 5. Do not make any stray marks anywhere in the answer sheet. 6. Do not fold or wrinkle the answer sheet. 7. Use only HB Pencil to mark the answers in the answer sheet. 8. All questions have one correct answer. Every answer must be indicated clearly darkening one circle for each answer. If you wish to change an answer, erase completely the already darkened circle, then make a fresh mark. If you darken more than one circle your answer will be treated as wrong, as shown in the example below: WRONG METHOD RIGHT METHOD B C B C D 9. There is negative marking equivalent to 1/4 th of the mark allotted to the specific question for wrong answer. 10. The candidates are advised to read all options thoroughly. 11. No clarification of any sort regarding the question paper is permitted. IIFT 2008 SECTIONS THE ENTIRE QUESTION PAPER IS DIVIDED INTO THE FOLLOWING SECTIONS NO. OF QUESTIONS MARKS PER TOTAL MARKS QUESTION (a) Section - 1 Section – 2 Section – 3 Section – 4 Section – 5 Section – 6 Total IIFT 2008 (b) 32 (Questions 01 – 32) 27 (Questions 33 – 59) 26 (Questions 60 – 85) 12 (Questions 86 – 97) 23 (Questions 98 – 120) 30 (Questions 121 – 150) 150 (c) 0.8 0.7 0.8 0.8 0.7 0.3 (d) = (b) × (c) 25.60 18.90 20.80 9.60 16.10 9.00 100.00 7. Which of the following amount is spent by one of the women? A. Rs. 1139 B. Rs. 1378 C. Rs. 2571 D. Rs. 2518 8. The lady who spent Rs. 1193 is: A. Aradhana B. Chandrima C. Deepika D. Heena Directions for questions 9 – 11: Answer the questions based on the following information. In a motor race competition certain rules are given for the participants to follow. To control direction and speed of the motorists, guards are placed at different signal points with caps of different colour. Guard with red cap indicates the direction of participant‘s movement and guards with green cap indicates the speed of the participant‘s movement. At any signal point presence of three guards, two guards and one guard with red cap means the participant must stop, turn left and turn right respectively. Signal points with three guards, two guards and one guard with green cap means the participants must move at 10, 4 and 2 km/hour respectively. Kartikay, one of the participants, starts at a point where his car was heading towards north and he encountered signals as follows: at start point one guard with green cap; after half an hour two guards with red cap and two guards with green cap at first signal; after fifteen minutes one guard with red cap at second signal; after half an hour one guard with red cap and three guards with green caps at third signal; after 24 minutes two guard with red cap and two guards with green cap at fourth signal; after 15 minutes three guard with red cap at fifth signal. (Time mentioned in each case is applicable after crossing the previous signal). 9. Total distance travelled by Kartikay from starting point till last signal is: A. 9 km. B. 10 km. C. 8 km. D. 12 km. 10. What would be the final position of Kartikay if one guard with red cap and two guards with green caps were placed at the first signal point after the starting point? A. 3.0 km to the west and 2.0 km to the south B. 3.0 km to the west and 4.0 km to the north C. 5.0 km to the east and 4.0 km to the north D. 2.0 km to the west and 4.0 km to the south IIFT 2008 Set A - 3 11. If at the starting point Kartikay was heading towards south what would be his final position? A. 3.0 km to the east and 4.0 km to the south B. 5.0 km to the east and 4.0 km to the south C. 3.0 km to the west and 4.0 km to the south D. 5.0 km to the west and 2.0 km to the north Directions for questions 12 – 15: Answer the questions based on the following information. Mr. Mansingh has five sons – Arun, Mahi, Rohit, Nilesh and Saurav, and three daughters – Tamanna, Kuntala and Janaki. Three sons of Mr. Mansingh were born first followed by two daughters. Saurav is the eldest child and Janki is the youngest. Three of the children are studying at Trinity School and three are studying at St. Stefan. Tamanna and Rohit study at St. Stefan school. Kuntala, the eldest daughter, plays chess. Mansorover school offers cricket only, while Trinity school offers chess. Beside, these schools offer no other games. The children who are at Mansorover school have been born in succession. Mahi and Nilesh are cricketers while Arun plays football. Rohit who was born just before Janki, plays hockey. 12. Arun is the _________ child of Mr. Mansingh. A. 2 nd B. 3 rd C. 6 th D. 5 th 13. Saurav is a student of which school? A. Trinity B. St. Stefan C. Mansorover D. Cannot be determined 14. What game does Tamanna play? A. Cricket B. Hockey C. Football D. Cannot be determined 15. Which of the following pairs was not born in succession (ignore the order)? A. Mahi and Nilesh B. Kuntala and Arun C. Rohit and Janki D. Arun and Rohit IIFT 2008 Set A - 4 Directions for questions 16 – 17: Answer the questions based on the following information. In each question below three statements (I, II, III) are given followed by four conclusions numbered 1, 2, 3 and 4. You have to take the given statements to be true even if they seem to be at variance with commonly known facts. Read all the conclusions and then decide which of the given conclusions logically follows from the given statements, disregarding commonly known facts. Choose the correct options (A & D) presented below. 16. Statements: I. Some drivers are technicians II. All technicians are engineers III. Some engineers are lecturers Conclusions: 1. Some technicians are lecturers 2. Some lecturers are drivers 3. All engineers are technicians 4. Some engineers are drivers A. Only 3 follows B. Only 4 follows C. Only 3 and 4 follows D. None of the above 17. Statements: I. Some barbers are fashion designers II. No fashion designers are businessmen III. Some businessmen are traders Conclusions: 1. No Fashion designers are traders 2. Some traders are not fashion designers 3. Some fashion designers are traders 4. Some barbers are not businessmen A. Either 1, 2 and 4 or 3, 2 and 4 follow B. Either 1 and 4 or 3 and 4 follow C. Either 1 and 2 or 3 and 2 follow D. None of the above 18. Pointing to Priya, father of Pritu says, ―She is the daughter of the daughter of the wife of the only son of the grandfather of my sister.‖ How is Sushma related to Priya if Sushma is the sister of Pritu? A. Mother B. Aunt C. Niece D. None of the above IIFT 2008 Set A - 5 23. Rakesh Mohan, the director of film Ek Bar Achanak, has successfully completed a 2-years course at Satyajit Ray Film & Television Institute. The 150-minute film was produced at rupees 4.85 crore. It has approved by the censor board of India and submitted to NFDC on 30th Nov. 2007. A. I B. III C. IV D. II Directions for the questions 24 – 27: Answer the questions based on the following information. A number arrangement machine, when given a particular input, rearranges it following a particular rule. Illustrations of the input and the steps of arrangement is given below. Input: 245, 316, 436, 519, 868, 710, 689 Step 1: 710, 316, 436, 519, 868, 245, 689 Step 2: 710, 316, 245, 519, 868, 436, 689 Step 3: 710, 316, 245, 436, 868, 519, 689 Step 4: 710, 316, 245, 436, 519, 868, 689 Step 4 is the last step for the given input 24. If the input is given as ―655, 436, 764, 799, 977, 572, 333‖, which of the following step will be ―333, 436, 572, 655, 977, 764, 799‖? A. Step Third B. Step Second C. Step Fourth D. None of the above 25. How many steps will be required to get the final output from the following input? Input: 544, 653, 325, 688, 461, 231, 857 A. 6 B. 5 C. 4 D. None of the above 26. Step third for an input is ―432, 433, 542, 666, 734, 355, 574‖ What will be the first step for the input? A. 666, 542, 432, 734, 433, 574, 355 B. 542, 666, 734, 432, 433, 574, 355 C. 355, 574, 433, 432, 734, 666, 542 D. Cannot be determined IIFT 2008 Set A - 8 27. What will be the third step for the following input? Input: 653, 963, 754, 345, 364, 861, 541 A. 541, 345, 754, 963, 364, 816, 653 B. 541, 345, 364, 653, 963, 754, 861 C. 541, 345, 364, 963, 754, 861, 653 D. 541, 345, 364, 653, 861, 754, 963 Directions for the questions 28 – 30: Answer the questions based on the following information. A wood arrangement machine, when given a particular input, rearranges it following a particular rule. Following is the illustration of the input and the steps of arrangement: Input: She was interested in doing art film Step 1: art she was interested in doing film Step 2: art was she interested in doing film Step 3: art was in she interested doing film Step 4: art was in film she interested doing Step 5: art was in film doing she interested Step 5 is the last step of the given input. Now study the logic and rules followed in the above steps, find out appropriate step for the question given below for the given input. 28. Which of the following will be the last step for the input given below? Input: he is going out to search air A. out is air to going search he B. out is air to search going he C. search he out is air to going D. None of the above 29. If step 2 of an input is not ―not is the casino considering legal action‖, which step is: ―not is casino action legal the considering‖? A. Step: 3 B. Step: 6 C. Step: 4 D. None of the above 30. How many steps will be required to get the final output from the following input? Input: Father needs to check on the boy A. Four B. Five C. Six D. None of the above IIFT 2008 Set A - 9 31. Among Anil, Bibek, Charu, Debu, and Eswar, Eswar is taller than Debu but not as fat as Debu. Charu is taller than Anil but shorter than Bibek. Anil is fatter than Debu but not as fat as Bibek. Eswar is thinner than Charu, who is thinner than Debu. Eswar is shorter than Anil. Who is the thinnest person? A. Bibek B. Charu C. Debu D. Eswar 32. Pointing to a photograph Yuvraj says, ―He is the only brother of the only daughter of my sister‘s maternal grandmother.‖ Pointing to another photograph Sourav says, ―he is the only brother of the only daughter of my sister‘s maternal grandmother.‖ If among the two photographs, one was either of Sourav or Yuvraj, and the photograph, towards which Yuvraj was pointing, was not of Sourav, then how is Yuvraj related to Sourav? A. Paternal uncle B. Maternal uncle C. Grandfather D. None of the above IIFT 2008 Set A - 10 43. If the positive real numbers a, b and c are in Arithmetic Progression, such that abc = 4, then minimum possible value of b is: D. None of the above 44. If one root of the equation ax 2 + bx + c = 0 is double of the other, then 2b 2 = A. 9ca B. C. D. None of the above 45. A boat goes 30 km. upstream and 44 km. downstream in 10 hours. In 13 hours, it can go 40 km. upstream and 55 km down-stream. The speed of the boat in still water is: A. 3 km/hour B. 4 km/hour C. 8 km/hour D. None of the above A. 2π – a B. C. D. None of the above 47. A pole has to be erected on the boundary of a circular park of diameter 13 meters in such a way that the difference of its distances from two diametrically opposite fixed gates A and B on the boundary is 7 metres. The distance of the pole from one of the gates is: A. 8 metres B. 8.25 metres C. 5 metres D. None of the above IIFT 2008 Set A - 13 48. A spiral is made up of 13 successive semicircles, with center alternatively at A and B, starting with center at A. the radii of semicircles, thus developed are 0.5 cm, 1.0 cm, 1.5 cm, and 2.0 cm and so on. The total length of the spiral is: A. 144 cm B. 143 cm C. 174 cm D. None of the above 49. The mean salary in ICM LTD. was Rs. 1500, and the standard deviation was Rs. 400. A year later each employee got a Rs. 100 raise. After another year each employee‘s salary (including the above mentioned raise) was increased by 20%. The standard deviation of the current salary is: A. 460 B. 480 C. 580 D. None of the above 50. A medical clinic tests blood for certain disease from which approximately one person in a hundred suffers. People come to the clinic in group of 50. The operator of the clinic wonders whether he can increase the efficiency of the testing procedure by conducting pooled tests. In the pooled tests, the operator would pool the 50 blood samples and test them altogether. If the polled test was negative, he could pronounce the whole group healthy. If not, he could then test each person‘s blood individually. The expected number of tests the operator will have to perform if he pools the blood samples are: A. 47 B. 25 C. 21 D. None of the above 51. The game of ―chuck-a-luck‖ is played at carnivals in some parts of Europe. Its rules are as follows: if u pick a number from 1 to 6 and the operator rolls three dice. If the number you picked comes up on all three dice, the operator pays you ‖3; if it comes up on two dice, you are paid ‖2; and if it comes up on just one die, you are paid ‖1. Only if the number you picked does not come up at all, you pay the operator ‖1. The probability that you will win money playing in this game is: A. 0.52 B. 0.753 C. 0.42 D. None of the above IIFT 2008 Set A - 14 Directions for questions 52 – 54: Answer the questions based on the following information. Rajat is sales manager of Dubin Computers Ltd. and looks after Delhi market. The company sells laptops in India. He is currently trying to select a distributor for coming five years. The distributor ensures that the products are accessible to the customers in the market. Market share of a company depends on the coverage by the distributor. The total profit potential of the entire laptop market in Delhi is Rs. 5 crores in the current year and present value of next four years‘ cumulative profit potential is Rs. 15 crores. The first choice for Rajat is to enter into long-term contract with a distributor M/s Jagan with whom Dubin has done business in the past, and whose distribution system reaches 55 percent of all potential customers. At the last moment, however, a colleague suggests Rajat to consider signing a one-year contract with other distributors. Distributors M/s Bola and M/s James are willing to be partner with Dubin. Although a year ago M/s Bola‘s and M/s James‘s coverage reached only 40 and 25 percent of customers respectively, they claim to have invested heavily in distribution resources and now expect to be able to reach 60 percent and 75 percent of customers respectively. The probability of M/s Bola‘s claim and M/s James‘s claim to be true is 0.60 and 0.20 respectively. The knowledge about distributors‘ coverage will evolve over time. The assumption is that the true level of coverage offered by the new distributors could be discovered, with certainty, through a one-year trail, and this trail will reveal exactly one of the two levels of coverage: for example in case of M/s Bola – 40 percent (as it was last year) or 60 percent (as claimed). In addition, it is also assumed that whatever the coverage is for both distributors, it will not change over time. Rajat narrows down on three choices, which are as follows: Choice 1. Give a five year contract to the familiar distributor M/s Jagan Choice 2. Give a one year contract to the new distributor M/s Bola, and base next year‘s decision to renew contract with M/s Bola on observed coverage for next four years contract with M/s Jagan. Choice 3. Give a one-year contract to the new distributor M/s James, and base next year‘s decision to renew contract with M/s James on observed coverage for next four years contract with M/s Jagan. 52. The expected present value of the five years cumulative profit with choice 3 is: A. Rs. 12.7 crores B. Rs. 10.6 crores C. Rs. 11.7 crores D. None of the above IIFT 2008 Set A - 15 SECTION - 3 Directions for questions 60 – 65: Answer the questions based on the following table. Growth Trend in Rail Wagons Year Total Covered Open Open Depart- Special Total Average Wagons wagons High sided wagons Low sided wagons mental wagons type wagons wagon capacity wagon capacity Number Number Number Number Number Number (Million Tones) (Tonnes) 1993 337562 157581 105469 12221 12009 50282 1994 312405 138642 101160 11922 11473 49208 1995 291360 121946 98795 11507 11185 47927 1996 280791 114065 98297 11196 11008 46225 1997 272127 106634 98906 10601 10645 45341 11.79 11.32 10.76 10.62 10.64 34.9 36.2 36.9 37.8 39.1 1998 263981 102217 97616 9726 10569 43853 10.69 40.5 1999 252944 2000 234397 2001 222193 2002 216717 96371 95613 86024 91415 75768 91099 71950 90371 9106 7735 7999 7585 9612 42242 8907 40316 8443 38884 9536 37275 10.7 10.26 10.19 10.09 42.3 43.8 45.9 46.6 2003 214760 2004 227752 2005 222379 68467 90765 67870 100211 64417 101757 7160 10718 37650 8882 11388 39401 8787 10964 36454 9.98 10.66 10.6 46.5 46.8 47.7 60. Find the TRUE Statement: A. The number of covered wagons expressed as a percentage of total wagons declined consistently from 1993 to 2002, but increased marginally in 2003 as compared to the previous year level. B. The special type wagons expressed as a percentage of total wagons is maximum during 2003. C. The open high sided wagons expressed as a percentage of total wagons increased during 1994 to 2001, but declined from the 2001 level in 2002. D. None of the above. 61. The special type wagons expressed as a percentage of total wagons were at almost same level during the following pair of years: A. 1995 and 2001 B. 1998 and 2004 C. 2000 and 2002 D. 1993 and 1994 IIFT 2008 Set A - 18 62. The Departmental wagons expressed as a percentage of total wagons was maximum during: A. 2002 B. 2005 C. 2004 D. 2003 63. Find out the LOWEST annual growth rate among the following: A. Annual growth rate of total wagons in 1999 B. Annual growth rate of covered wagons in 1998 C. Annual growth rate of special type wagons in 2002 D. Annual growth rate of total wagon capacity in 2000 64. Find out the FALSE statement: A. The annual growth rate of covered wagons in 1996 was higher than the same in 2000. B. The annual growth rate of open high sided wagons in 1997 was higher than the same in 2003. C. The annual percentage growth rate of average wagon capacity has been maximum in 1999. D. None of the above. 65. Find out the HIGHEST annual growth rate among the following: A. Annual growth rate of total wagons in 1995. B. Annual growth rate of covered wagons in 2002. C. Annual growth rate of open Low sided wagons in 1998. D. Annual growth rate of departmental wagons in 2000. IIFT 2008 Set A - 19 Direction for questions 66 – 70: Answer the questions based on the following graph. 66. In which year the annual growth rate of total production (of all products) is highest? A. 1991 B. 1992 C. 1993 D. 1995 67. A. Product P B. Product Q C. Product R D. Product S 68. If four products P, Q, R and S shown in the graph are sold at price of Rs. 9, Rs. 4, Rs.13 and Rs.3 respectively during 1990-1995, then the total revenue of all the products is lowest in which year? A. 1991 B. 1992 C. 1993 D. None of the above IIFT 2008 Set A - 20 Directions for questions 76 – 80: Answer the questions based on the following table. World Merchandise Exports by Regions and Selected Economics Region/ Country 2000 2001 2002 2003 2004 2005 2006 World North America Canada US Latin America 6454000 6187000 6487000 7580000 9210000 10472000 12083000 1224975 1147545 1106240 1162965 1324235 1479330 1678315 276635 259858 252394 272739 316548 359399 389538 781918 729100 693103 724771 818520 905978 1038278 195800 188600 190700 219100 284700 355000 429900 Argentina 26341 26543 25650 29566 34576 40351 46569 Brazil Europe Germany UK Africa 55086 58223 60362 73084 96475 118308 137470 2633930 2654555 2839440 3386490 4051000 4396895 4962980 551818 571645 615831 751560 909887 970915 1111969 285429 272715 280195 305627 347493 384477 448291 147800 137400 141100 176400 229900 299500 363300 Nigeria South Africa 20975 17261 15107 22605 31148 29983 29258 29723 36482 46146 42277 51626 52000 58412 Asia China 1837300 1674400 1807800 2138300 2653100 3059000 3577700 249203 266098 325596 438228 593326 761953 968936 India 42379 43361 49250 58963 76427 99376 120254 Japan 479249 403496 416726 471817 565675 594905 649931 76. Mark the LOWEST percentage among the following: A. Export from Canada expressed as a proportion of export from North America in 2000. B. Export from Germany expressed as a proportion of export from Europe in 2004. C. Export from China expressed as a proportion of export from Asia in 2004. D. Export from Japan expressed as a proportion of export from Asia in 2003. 77. Identify the TRUE statement: A. The annual export growth rate of Argentina in 2003 was lower than the corresponding figure for US in 2006. B. The annual export growth rate of Africa in 2004 was lower than the corresponding figure for Latin America during the same period. C. The annual export growth rate of US in 2004 was lower than the corresponding figure for Canada in 2005. D. None of the above. IIFT 2008 Set A - 23 78. Mark the HIGHEST annual growth rate among the following: A. Annual growth rate of World export in 2005. B. Annual growth rate of North American export in 2004. C. Annual growth rate of India‘s export in 2002. D. Annual growth rate of Japan‘s export in 2003. 79. Mark the FALSE statement: A. The exports from Argentina expressed as a proportion of export from Latin America in 2001 was greater than the exports from Nigeria expressed as a proportion of exports from Africa in 2004. B. The exports from UK expressed as a proportion of exports from Europe in 2000 is lower than the exports from Argentina expressed as a proportion of exports from Latin America in 2005. C. The annual export growth rate of Argentina in 2004 was higher than the corresponding figure for Asia in 2005. D. The exports from South Africa in 2001 expressed as a proportion of exports from Africa is lower than the exports from China expressed as a proportion of exports from Asia in 2003. 80. Mark the FALSE statement: A. The absolute annual increase in exports from Asia in 2003 was less than the corresponding figure in 2006. B. The absolute annual increase in exports from Germany in 2001 was higher than the corresponding figure for US in 2003. C. The absolute annual increase in exports from Brazil in 2005 was higher than the corresponding figure for Japan in 2002. D. None of the above. IIFT 2008 Set A - 24 Direction for the question 81 – 85: Answer the questions based on the following two graphs, assuming that there is no fixed cost component and all the units produced are sold in the same year. IIFT 2008 Set A - 25 bandwidth. Let‘s say that Dell has six days of inventory. Compare that to an indirect competitor who has twenty-five days of inventory with another thirty in their distribution channel. That‘s a difference of forty-nine days; and in forty-nine days, the cost of materials will decline about 6 percent. Then there‘s the threat of getting stuck with obsolete inventory if you‘re caught in a transition to a next- generation product, as we were with those memory chip in 1989. as the product approaches the end of its life, the manufacturer has to worry about whether it has too much in the channel and whether a competitor will dump products, destroying profit margins for everyone. This is a perpetual problem in the computer industry, but with the direct model, we have virtually eliminated it. We know when our customers are ready to move on technologically, and we can get out of the market before its most precious time. We don‘t have to subsidize our losses, by charging higher prices for other products. And ultimately, our customer wins. Optimal inventory management really starts with the design process. You want to design the product so that the entire product supply chain, as well as the manufacturing process, is oriented not just for speed but for what we call velocity. Speed means being fast in the first place. Velocity means squeezing time out of every step in the process. Inventory velocity has become a passion for us. To achieve maximum velocity, you have to design your products in a way that covers the largest part of the market with the fewer number of parts. For example, you don‘t need nine different disk drives when you can serve 98 percent of the market with only four. We also learned to take into account the variability of the lost cost and high cost components. Systems were reconfigured to allow for a greater variety of low-cost parts and a limited variety of expensive parts. The goal was to decrease the number of components to manage, which increased the velocity, which decreased the risk of inventory depreciation, which increased the overall health of our business system. We were also able to reduce inventory well below the levels anyone thought possible by constantly challenging and surprising ourselves with the result. We had our internal skeptics when we first started pushing for ever-lower levels of inventory. I remember the head of our procurement group telling me that this was like ―flying low to the ground 300 knots.‖ He was worried that we wouldn‘t see the trees. In 1993, we had $2.9 billion in sales and $220 million on in inventory. Four years later, we posted $12.3 billion in sales and had inventory of 33 million. We‘re now down to six days of inventory and we‘re starting to measure it in hours instead of days. Once you reduce your inventory while maintaining your growth rate, a significant amount of risk comes from the transition from one generation of product to the next. Without traditional stock of inventory, it is critical to precisely time the discontinuance of the older product line with the ramp-up in customer demand for the newer, one. Since we were introducing new products all the time, it became imperative to avoid the huge drag effect from mistakes made during transitions. ―excess and obsolete‖ - became taboo at Dell. We would debate about whether our E&O was 30 or 50 cent per PC. Since anything less than $20 per PC is not bad, when you‘re down in the cents range, you‘re approaching stellar performance. IIFT 2008 Set A - 28 In effect, we got stronger with each transition and more competitive with each turn of the crank. We were increasing our productivity and improving our cash flow in a broader range of products in larger and larger markets. Unlike that period in 1993, when every day the news got a little worse, now, finally, every day the news was better and better. 86. Find out the TRUE statement: A. According to the passage, the working of the direct model was being heavily exploited by all players in the software business. B. Analysis of the supply chain of the product reveals that the product is sent to the warehouse by the dealer, and any delay at that stage leads to an obvious increase in cost. C. The nature of the computer industry is such that the production decision at factory level is usually undertaken after getting the customer demand feedback from the distributors. D. Whenever the production of some old-fashioned model of a product by a company exceeds the existing demand, the market forces create a downward pressure on its prices. 87. Find out the FALSE statement: A. The company mentioned in the passage could attain efficiency on raw material inventory management because they were procuring components only in line with their timely requirement. B. Generally the more the amount of quality information about the consumer needs and the market a firm possess, the less is its inventory requirement. C. In order to serve the market more efficiently, the firm mentioned here reconfigured their computers with increased proportion of low-cost parts and a fewer types of high-priced parts. D. The conventional manufacturing system always ensured that no competitor can lower prices to reduce profit margins for everybody. 88. Choose the option which best matches the following sets: 1 Inventory i Precarious 2 Conventional Manufacturing ii Warehouse 3 Distributor 4 Market A. 1 – iv, 2 – ii, 3 – i, 4 – iii B. 1 – iii, 2 – i, 3 – iv, 4 – ii C. 1 – iv, 2 – iii, 3 – ii, 4 – i D. 1 – iii, 2 – ii, 3 – iv, 4 – i iii Stockpile iv Velocity IIFT 2008 Set A - 29 89. Find out the FALSE Statement: A. Having less amount of inventory is better in the computer industry as with time better quality components with enhanced capacity reach the market with lower price. B. Before improving the inventory management system under the direct model, the firm first removed the reseller from its marketing model, which contributed in its cost-cutting attempt. C. The efficient inventory management allowed the firm to enhance productivity as well as the flexibility to enter or exit a market. D. The companies with long distribution network incorporate information- gathering process within their systems which enable them to market products with latest available technologies. Passage - 2 My comrade and I had been quartered in Jamaica, and from there we had been drafting off to the British settlement of Belize, lying away West and North of the Mosquito coast. At Belize there had been great alarm of one cruel gang of pirates (always more pirates than enough in those Caribbean Seas), and as they got the better of our English cruisers by running into out-of-the-way creeks and shallows, and taking the land when they were hotly pressed, the governor of Belize had received orders from home to keep a sharp look-out for them along shore. Now, there was an armed sloop came once a year from Port Royal, Jamaica, to the Island, laden with all manner of necessaries to eat, and to drink, and to wear, and to use in various ways; and it was aboard of that sloop which had touched at Belize, that I was standing, leaning over the bulwarks. The Island was occupied by a very small English colony. It had been given the name of Silver-Store. The reason of its being so called, was, that the English colony owned and worked a silver-mine over on the mainland, in Honduras, and used this Island as a safe and convenient place to store their silver in, until it was annually fetched away by the sloop. It was brought down from the mine to the coast on the backs of mules, attended by friendly local people and guarded by white men; from thence it was conveyed over to Silver-Store, when the weather was fair, in the canoes of that country; from Silver-Store, it was carried to Jamaica by the armed sloop once a-year, as I have already mentioned; from Jamaica, it went, of course, all over the world. How I came to be aboard the armed sloop, is easily told. Four-and-twenty marines under command of a lieutenant - that officer‘s name was Linderwood - had been told off at Belize, to proceed to Silver-Store, in aid of boats and seamen stationed there for the chase of the Pirates. The Island was considered a good post of observation against the pirates, both by land and sea; neither the pirate ship nor yet her boats had been seen by any of us, but they had been so much heard of, that the reinforcement was sent. Of that party, I was one. It included a corporal and a sergeant. Charker was corporal, and the sergeant‘s name was Drooce. He was the most tyrannical non-commissioned officer in His Majesty‘s service. The night came on, soon after I had had the foregoing words with Charker. All the wonderful bright colours went out of the sea and sky in a few minutes, and all the stars in the Heavens seemed to shine out together, and to look down at themselves in the sea, over one another‘s shoulders, millions deep. IIFT 2008 Set A - 30 Passage – 3 We now come to the second part of our journey under the sea. The first ended with the moving scene in the coral cemetery which left a deep impression on my mind. I could no longer content myself with the theory which satisfied Conseil. That worthy fellow persisted in seeing in the Commander of the Nautilus one of those unknown servants who returns mankind contempt for indifference. For him, he was a misunderstood genius who, tired of earth‘s deceptions, had taken refuge in this inaccessible medium, where he might follow his instincts freely. To my mind, this explains but one side of Captain Nemo‘s character. Indeed, the mystery of that last night during which we had been chained in prison, the sleep, and the precaution so violently taken by the Captain of snatching from my eyes the glass I had raised to sweep the horizon, the mortal wound of the man, due to an unaccountable shock of the Nautilus, all put me on a new track. No; Captain Nemo was not satisfied with shunning man. His formidable apparatus not only suited his instinct of freedom, but perhaps also the design of some terrible retaliation. That day, at noon, the second officer came to take the altitude of the sun. I mounted the platform, and watched the operation. As he was taking observations with the sextant, one of the sailors of the Nautilus (the strong man who had accompanied us on our first submarine excursion to the Island of Crespo) came to clean the glasses of the lantern. I examined the fittings of the apparatus, the strength of which was increased a hundredfold by lenticular rings, placed similar to those in a lighthouse, and which projected their brilliance in a horizontal plane. The electric lamp was combined in such a way as to give its most powerful light. Indeed, it was produced in vacuo, which insured both its steadiness and its intensity. This vacuum economised the graphite points between which the luminous arc was developed - an important point of economy for Captain Nemo, who could not easily have replaced them; and under these conditions their waste was imperceptible. When the Nautilus was ready to continue its submarine journey, I went down to the saloon. The panel was closed, and the course marked direct west. We were furrowing the waters of the Indian Ocean, a vast liquid plain, with a surface of 1,200,000,000 of acres, and whose waters are so clear and transparent that any one leaning over them would turn giddy. The Nautilus usually floated between fifty and a hundred fathoms deep. We went on so for some days. To anyone but myself, who had a great love for the sea, the hours would have seemed long and monotonous; but the daily walks on the platform, when I steeped myself in the reviving air of the ocean, the sight of the rich waters through the windows of the saloon, the books in the library, the compiling of my memoirs, took up all my time, and left me not a moment of ennui or weariness. From the 21 st to the 23 rd of January the Nautilus went at the rate of two hundred and fifty leagues in twenty-four hours, being five hundred and forty miles, or twenty-two miles an hour. If we recognized so many different varieties of fish, it was because, attracted by the electric light, they tried to follow us; the greater part, however, were soon distanced by our speed, though some kept their place in the waters of the Nautilus for a time. The morning of the 24 th , we observed Keeling Island, a coral formation, planted with magnificent cocos, and which had been visited by Mr. Darwin and Captain Fitzroy. The Nautilus skirted the shores of this desert island for a little distance. Soon Keeling Island disappeared from the horizon, and our course was directed to the north-west in the direction of the Indian Peninsula. From Keeling Island our course was slower and more variable, often taking us into great depths. Several IIFT 2008 Set A - 33 times they made use of the inclined planes, which certain internal levers placed obliquely to the waterline. I observed that in the upper regions the water was always colder in the high levels than at the surface of the sea. On the 25th of January the ocean was entirely deserted; the Nautilus passed the day on the surface, beating the waves with its powerful screw and making them rebound to a great height. Three parts of this day I spent on the platform. I watched the sea. Nothing on the horizon, till about four o‘clock a steamer running west on our counter. Her masts were visible for an instant, but she could not see the Nautilus, being too low in the water. I fancied this steamboat belonged to the P.O. Company, which runs from Ceylon to Sydney, touching at King George‘s Point and Melbourne. At five o‘clock in the evening, before that fleeting twilight which binds night to day in tropical zones, Conseil and I were astonished by a curious spectacle. It was a shoal of argonauts traveling along on the surface of the ocean. We could count several hundreds. These graceful molluscs moved backwards by means of their locomotive tube, through which they propelled the water already drawn in. Of their eight tentacles, six were elongated, and stretched out floating on the water, whilst the other two, rolled up flat, were spread to the wing like a light sail. I saw their spiral-shaped and fluted shells, which Cuvierjustly compares to an elegant skiff. For nearly an hour the Nautilus floated in the midst of this shoal of molluscs. The next day, 26 th of January, we cut the equator at the eighty-second meridian and entered the northern hemisphere. During the day a formidable troop of sharks accompanied us. They were ―cestracio philippi‖ sharks, with brown backs and whitish bellies, armed with eleven rows of teeth, their throat being marked with a large black spot surrounded with white like an eye. There were also some Isabella sharks, with rounded snouts marked with dark spots. These powerful creatures often hurled themselves at the windows of the saloon with such violence as to make us feel very insecure. But the Nautilus, accelerating her speed, easily left the most rapid of them behind. About seven o‘clock in the evening, the Nautilus, half-immersed, was sailing in a sea of milk. At first sight the ocean seemed lactified. Was it the effect of the lunar rays? No; for the moon, scarcely two days old, was still lying hidden under the horizon in the rays of the sun. The whole sky, though lit by the sidereal rays, seemed black by contrast with the whiteness of the waters. Conseil could not believe his eyes, and questioned me as to the cause of this strange phenomenon. Happily I was able to answer him. ―It is called a milk sea,‖ I explained. ―A large extent of white wavele often to be seen on the coasts of Amboyna, and in these parts of the sea.‖ ―But, sir,‖ said Conseil, ―can you tell me what causes such an effect? For I suppose the water is not really turned into milk.‖ ―No, my boy; and the whiteness which surprises you is caused only by the presence of myriads of luminous little worm, gelatinous and without colour, of the thickness of a hair, and whose length is not more than seven-thousandths of an inch. These insects adhere to one another sometimes for several leagues.‖ ―Several leagues!‖ exclaimed Conseil. IIFT 2008 Set A - 34 ―Yes, my boy; and you need not try to compute the number of these infusoria. You will not be able, for, if I am not mistaken, ships have floated on these milk seas for more than forty miles.‖ Towards midnight the sea suddenly resumed its usual colour; but behind us, even to the limits of the horizon, the sky reflected the whitened waves, and for a long time seemed impregnated with the vague glimmerings of an aurora borealis. 94. Find the TRUE Sentence: A. According to the narrator, the above-mentioned journey was taking place during full moon period. B. According to Conseil, the Captain of the Nautilus in which they were traveling was really a brilliant person, a fact which had been corroborated by many people. C. It is implied from the passage that although the author was witnessing many interesting events during their journey, he was not always having his way. D. From the chronicle, it is understood that the Nautilus was in the vicinity of the Island of Crespo on the 25 of January. 95. Find the FALSE sentence: A. After entering the Northern Hemisphere, the narrator witnessed several sea creatures, including several varieties of sharks, who kept bumping on the windows of the submarine. B. On 25 January, the second officer of Nautilus came to the platform for measuring the altitude of the sun and for that purpose took observations with the sextant. C. After January 24, Nautilus started traveling at a relatively reduced speed, and some of the time it was going further away from the sea-surface. D. The course of Nautilus took them near the Keeling Island, which had earlier been visited by Mr. Darwin and Captain Fitzroy. IIFT 2008 Set A - 35 104. His listeners enjoyed his ________ wit but his victims often _________ at its satire. A. lugubrious, B. bitter, C. lugubrious, D. trenchant, suffered smarted smiled winced Directions for questions 105- 108: In each of the following sentences, part or all of the sentence is underlined. The answer-choices offer four ways of phrasing the underlined part. If you think the original sentence is better than the alternatives, choose A which merely repeats the underlined part; otherwise choose one of the alternatives. 105. Had the President‘s Administration not lost the vote on the budget reduction package, his first year in office would have been rated an A. A. Had the President‘s Administration not lost the vote on the budget reduction package, his first year in office would have been rated an A. B. Had the President‘s Administration not lost the vote on the budget reduction package, it would have been rated an A in the first year. C. If the President had not lost the vote on the budget reduction package, the Administration‘s first year in office would have been rated an A. D. Had the President‘s Administration not lost the vote on its budget reduction package, his first year in office would have been rated an A. 106. The rise in negative attitudes toward foreigners indicate that the country is becoming less tolerant, and therefore that the opportunities are ripe for extremist groups to exploit the illegal immigration problem. A. indicate that the country is becoming less tolerant, and therefore that B. indicates that the country is becoming less tolerant, and therefore C. indicates that the country is becoming less tolerant, and therefore that D. indicates that the country has become less tolerant, and therefore 107. This century began with war brewing in Europe, the industrial revolution well- established, and a nascent communication age. A. war brewing in Europe, the industrial revolution well-established, and a nascent communication age. B. war brewing in Europe. the industrial revolution surging, and a nascent communication age. C. war brewing in Europe, the industrial revolution well-established, and the communication age beginning. D. war brewing in Europe. the industrial revolution well-established, and saw the birth of the communication age. IIFT 2008 Set A - 38 108. Due to the chemical spill, the commute into the city will be delayed by as much as 2 hours. A. Due to the chemical spill, the commute into the city will be delayed by as much as 2 hours. B. The chemical spill will be delaying the commute into the city by as much as 2 hours. C. Due to the chemical spill, the commute into the city had been delayed by as much as 2 hours. D. Because of the chemical spill, the commute into the city will be delayed by as much as 2 hours. Direction for questions 109 - 112: Select the option which is having similar analogy vis-a-vis the analogy given in the question. 109. TRAVESTY: PARAGON :: A. autonomy : subordination B. disqualification : ineptitude C. sentinel : creed D. conundrum : accountability 110. CONTRITE : OBDURATE :: A. grievous : lamentable B. aphoristic : esoteric C. sophisticated : cultured D. favorable : assenting 111. PECCADILLO : FLAW :: A. clandestine : openness B. nick : score C. forensics : judiciary D. invasion : putsch 112. MUTTER : INDISTINCT :: A. define : easy B. blunder : polished C. articulate : well-spoken D. expedite : completed IIFT 2008 Set A - 39 Direction for questions 113— 115: Select the most OPPOSITE of the given word from the given choices. 113. REQUIEM A. Humility B. Prerequisite C. Resolution D. Reign 114. ASPERSION A. Infamy B. Restriction C. Tradition D. Obeisance 115. STOLIDITY A. Posterity B. Proximity C. Agility D. Sobriety Directions for questions 116 - 118: A number of sentences are given below which, when properly sequenced. form a COHERENT PARAGRAPH. Choose the most LOGICAL ORDER of sentences from the choices given to construct a COHERENT PARAGRAPH. 116. I. The economy‘s performance in expenditure terms was even poorer. with real GDP contracting by 0.6% after a gain of 0.5% in the October-December quarter. II. On an output basis—the government‘s preferred measure because it is less volatile thin expenditure-based GDP—the economy contracted by 0.3% in real terms from the previous quarter. III. Data from Statistics New Zealand, a government agency, published on June 27th show an almost uniformly abysmal economic performance in January-March 2008. IV. This was the first contraction since late 2005, made worse by the fact that the previous quarter‘s growth rate was revised down from 1% to 0.8%. A. III, IV, II, I B. I, II, III, IV C. III, II, IV, I D. I, III, II, IV IIFT 2008 Set A - 40 SECTION - 6 121. Which of the following country is not a member of G8 group of countries? A. United Kingdom B. China C. Germany D. Canada 122. Which prominent intergovernmental organization launched the movement, ‗Education For All‘ (EFA): A. UNCTAD B. UNIDO C. UNDP D. UNESCO 123. Which of the following country is a member of OECD group? A. Venezuela B. Brazil C. Mexico D. South Africa 124. Select the correct Year – Olympic host cities match: Year 1 1976 2 1992 3 1964 4 2012 Olympic host cities i London ii Tokyo iii Montreal iv Barcelona A. 1-ii, 2-iii, 3-iv, 4-i B. 1-iii, 2-i, 3-iv, 4-ii C. 1-iv, 2-ii, 3-i, 4-iii D. 1-iii, 2-iv, 3-ii, 4-i 125. Select the correct IPL Franchise – Owner match: IPL Franchise 1 Mumbai Indians 2 Royal Challengers 3 Chennai Super Kings 4 Delhi Daredevils A. 1-ii, 2-iii, 3-iv, 4-i B. 1-iii, 2-i, 3-iv, 4-ii C. 1-iv, 2-ii, 3-i, 4-iii D. 1-iii, 2-iv, 3-ii, 4-i Owner i UB group ii GMR Holdings iii Reliance Industries iv India Cements IIFT 2008 Set A - 43 126. Which of the following country is not a member of Nuclear Suppliers Group? A. Belarus B. Malta C. Turkey D. Albania 127. Select the correct Bharat Ratna recipient-Year match: Bharat Ratna recipients 1 Pandit Ravi Shankar 2 Ustad Bismillah Khan 3 M S Subbulakshmi 4 Satyajit Ray A. 1-ii, 2-i, 3-iv, 4-i B. 1-iii, 2-i, 3-iv, 4-ii C. 1 -iv, 2-ii, 3-i, 4-iii D. 1-iii, 2-iv, 3-ii, 4-i Year i 1992 ii 1999 iii 2001 iv 1998 128. Select the WRONG Country-River-Currency match: Country A. Nigeria B. South Korea C. Colombia D. Malaysia River Benue Nakdong Magdalena Siouguluan Currency Naira Won Peso Ringgit 129. Select the WRONG International Organization – Location of Headquarter – Country match: International Organization Location of Headquarter Country A. International Atomic Energy Agency Vienna Austria B. World Health Organization C. International Monetary Fund D. International Court of Justice Geneva New York The Hague Switzerland USA Netherlands 130. Select the WRONG Venue of Hockey World Cup – Year – Winner match: Venue of Hockey World Cup Year Winner A. Kuala Lumpur B. London C. Sydney D. Monchengladbach 1975 1986 1994 2006 India Australia Netherlands Germany IIFT 2008 Set A - 44 131. Select the WRONG Book – Author match: Book A The Google Story B Accidental Empires: How the Boys of Silicon Valley Make Their Millions, Battle Foreign Competition, and Still Can‘t Get a Date C The Monk Who Sold His Ferrari D Freakonomics: A Rogue Economist Explores the Hidden Side of Everything Author (s) David A. Vise and Mark Malseed Robert X. Kennedy Robin S Sharma Steven Levitt and Stephen J. Dubner 132. Select the WRONG Country – Name of Parliament match: Country A Iran B Norway C Tanzania D Israel Name of Parliament Majlis Riksdag Bunge Knesset 133. Which of the following books has been authored by P. Chidambaram? A. View from the outside: Why good economics works for everyone B. Propelling India from Socialist Stagnation to Global Power C. Interpreting the Indian Economy D. Strategic consequences of India‘s economic performance 134. Which of the treaty was signed amongst the European nations for entering into the monetary union? A. Treaty of Nice B. Treaty of Versailles C. Maastricht Treaty D. Treaty of Paris. 135. Which of the following Indian automobile major has a tie-up with a German insurer? A. Hindustan Motors B. Maruti C. Bajaj D. Ashok Leyland. 136. Which Indian company has acquired General Chemical Industrial Products Inc. of USA in 2008? A. Tata Chemicals B. Mody Chemical Industries C. Gujarat Heavy Chemicals Ltd D. Hindustan Chemicals. IIFT 2008 Set A - 45 147. Select the correct Railway Zone — Head Quarter match: Railway Zone i. South-East Central Head Quarter a. Jablpur ii. North-East Frontier b. Maligaon iii. North Eastern iv. West Central A. i-a, ii-b, iii-d, iv-c B. i-a, ii-d., iii-b, iv-c C. i-b, ii-b, iii-c, iv-d D. i-c, ii-a, iii-d, iv-d c. Bilaspur d. Gorakhpur 148. Select the correct Inventions/Discoveries — Inventors/ Discoverers match: Inventions/Discoveries Inventors/ Discoverer i. Cassette(Audio) ii. Super Computer iii. Cloning(Mammal) iv. HIV A. i-a, ii-b, iii-c, iv-d B. i-b, ii-a, iii-d, iv-c C. i-c, ii-a, iiii-b, iv-d D. i-a, ii-b, iii-d, iv-c a. Philips Co. b. J. H. Van Tassel c. Wilmut, et al d. Mortagnier 149. Select the correct Diseases — Plants affected match: Diseases i. Black heart ii. Red Rot iii. Karnal Bunt iv. Powdery Mildew A. i-a, ii-b, iii-d, iv-c B. i-d, ii-c, iii-b, iv-a C. i-b, ii-c, iii-a, iv-d D. i-a, ii-b, iii-c, iv-d Plants a. Peas b. Wheat c. Sugarcane d. Patatos 150. In April 2008 ISRO launched the following satellite form Sriharikota: A. KITSAT-3 B. CARTOSAT-2A C. HAMSAT D. INSAT-4CR IIFT 2008 Set A - 48 IIFT 2008 Set A - 49