Comprehension
YouTuber Nas Daily in one of his videos named him as the Most Generous Billionaire who wanted to donate all his wealth to charity. But ten months later, ‘[1]’ is no longer a billionaire. He is alleged to have caused massive losses worth $1 billion to investors. Known by his initials, he is the co-founder and former CEO of FTX, one of the biggest cryptocurrency exchange which has recently filed for bankruptcy in the US.
Once a billionaire with an estimated wealth of $26 billion at peak, according to Bloomberg estimates, [1] has seen his wealth been entirely wiped out. [1] studied physics at Massachusetts Institute of Technology (MIT) and traded currencies, futures and exchange-traded funds before moving to crypto trading, setting up [2] in 2017.
[1] teamed up with Gary Wang, a former software engineer at Google and a fellow MIT graduate, to launch FTX in 2019. The company offered trading on crypto tokens and derivatives. At the start of 2022, investors valued FTX and its U.S. operations at $40 billion. [1] transferred $10 billion in customer funds to his hedge fund, [2] without publicly disclosing it, many say this became the reason for collapse of his empire.
[Extracted, with edits and revisions, from “Who is [1], the co-founder of collapsed crypto firm FTX”, Hindustan Times]
Once a billionaire with an estimated wealth of $26 billion at peak, according to Bloomberg estimates, [1] has seen his wealth been entirely wiped out. [1] studied physics at Massachusetts Institute of Technology (MIT) and traded currencies, futures and exchange-traded funds before moving to crypto trading, setting up [2] in 2017.
[1] teamed up with Gary Wang, a former software engineer at Google and a fellow MIT graduate, to launch FTX in 2019. The company offered trading on crypto tokens and derivatives. At the start of 2022, investors valued FTX and its U.S. operations at $40 billion. [1] transferred $10 billion in customer funds to his hedge fund, [2] without publicly disclosing it, many say this became the reason for collapse of his empire.
[Extracted, with edits and revisions, from “Who is [1], the co-founder of collapsed crypto firm FTX”, Hindustan Times]
Question: 1
Which person’s name has been replaced with ``[1]'' in the passage above?
Which person’s name has been replaced with ``[1]'' in the passage above?
Show Hint
Create a one-line memory hook: “SBF = FTX + MIT + Alameda + \$10B transfer (2022).”
Updated On: Aug 13, 2025
- Mike Novogratz
- Brian Armstrong
- Changpeng Zhao \
- Sam Bankman-Fried
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The Correct Option is D
Solution and Explanation
Step 1 (Underline unique clues in the paragraph).
- Co-founder and former CEO of FTX. - Once worth \$26B, wealth wiped out in 2022. - MIT Physics; moved from ETF/futures trading to crypto. - Accused of transferring \$10B of customer funds to his own hedge fund.
Step 2 (Map clues to people).
- Sam Bankman-Fried (SBF) fits all bullets above. - Mike Novogratz (Galaxy Digital), Brian Armstrong (Coinbase), Changpeng Zhao (Binance) do not match FTX CEO + MIT + \$10B transfer story.
Step 3 (Lock the answer).
All identifiers converge on SBF.
Common Pitfall.
Confusing SBF with CZ (Binance) because both appeared in the same news cycle—always check “FTX founder” vs “Binance CEO.”
\[ \boxed{\text{(D) Sam Bankman-Fried}} \]
- Co-founder and former CEO of FTX. - Once worth \$26B, wealth wiped out in 2022. - MIT Physics; moved from ETF/futures trading to crypto. - Accused of transferring \$10B of customer funds to his own hedge fund.
Step 2 (Map clues to people).
- Sam Bankman-Fried (SBF) fits all bullets above. - Mike Novogratz (Galaxy Digital), Brian Armstrong (Coinbase), Changpeng Zhao (Binance) do not match FTX CEO + MIT + \$10B transfer story.
Step 3 (Lock the answer).
All identifiers converge on SBF.
Common Pitfall.
Confusing SBF with CZ (Binance) because both appeared in the same news cycle—always check “FTX founder” vs “Binance CEO.”
\[ \boxed{\text{(D) Sam Bankman-Fried}} \]
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Question: 2
Which hedge fund’s name has been replaced with ``[2]'' in the passage above?
Which hedge fund’s name has been replaced with ``[2]'' in the passage above?
Show Hint
Pair the names: FTX (exchange) $\leftrightarrow$ Alameda (trading arm).
Updated On: Aug 13, 2025
- BlackRock Advisors
- Alameda Research
- AQR Capital Management
- Man Group
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The Correct Option is B
Solution and Explanation
Step 1 (Identify the firm linked to FTX).
The passage says [1] set up the hedge fund in 2017 and transferred customer funds to it. This is repeatedly reported for Alameda Research.
Step 2 (Eliminate similar-sounding finance names).
BlackRock, AQR, Man Group are large, traditional asset managers; none are SBF’s firm.
Step 3 (Answer).
Therefore [2] = Alameda Research.
Common Pitfall.
Picking BlackRock due to familiarity—always cross-check with the founder’s name.
\[ \boxed{\text{(B) Alameda Research}} \]
The passage says [1] set up the hedge fund in 2017 and transferred customer funds to it. This is repeatedly reported for Alameda Research.
Step 2 (Eliminate similar-sounding finance names).
BlackRock, AQR, Man Group are large, traditional asset managers; none are SBF’s firm.
Step 3 (Answer).
Therefore [2] = Alameda Research.
Common Pitfall.
Picking BlackRock due to familiarity—always cross-check with the founder’s name.
\[ \boxed{\text{(B) Alameda Research}} \]
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Question: 3
This person was once named “the world’s youngest self-made female billionaire” by Forbes and is the founder of Theranos. Who is she?
This person was once named “the world’s youngest self-made female billionaire” by Forbes and is the founder of Theranos. Who is she?
Show Hint
Theranos $\Rightarrow$ pin instantly to Holmes; Enron $\Rightarrow$ Skilling/Lay; Satyam $\Rightarrow$ Raju.
Updated On: Aug 13, 2025
- Elizabeth Holmes
- Eren Ozmen
- Fan Hongwei
- Diane Hendricks
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The Correct Option is A
Solution and Explanation
Step 1 (Direct recall).
Theranos $\Rightarrow$ Elizabeth Holmes; blood-testing startup later exposed for fraud.
Step 2 (Eliminate).
Ozmen (Sierra Nevada Corp), Hongwei (Hengli), Hendricks (ABC Supply) — none founded Theranos.
\[ \boxed{\text{(A) Elizabeth Holmes}} \]
Theranos $\Rightarrow$ Elizabeth Holmes; blood-testing startup later exposed for fraud.
Step 2 (Eliminate).
Ozmen (Sierra Nevada Corp), Hongwei (Hengli), Hendricks (ABC Supply) — none founded Theranos.
\[ \boxed{\text{(A) Elizabeth Holmes}} \]
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Question: 4
RBI launched “Digital Rupee — Wholesale Segment”. This is a form of which of the following?
RBI launched “Digital Rupee — Wholesale Segment”. This is a form of which of the following?
Show Hint
Money vs. Rail: CBDC = money type; UPI/IMPS/RTGS = payment rails.
Updated On: Aug 13, 2025
- Digi Suvidha
- Virtual Wallet
- Central Bank Digital Currency
- Cyber Rupee
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The Correct Option is C
Solution and Explanation
Step 1 (Decode the phrase).
“Digital Rupee” is RBI’s CBDC, i.e., sovereign legal tender in digital form (wholesale pilot used for inter-bank settlement).
Step 2 (Contrast with wallet/crypto).
A virtual wallet is just a container for money; CBDC is the money itself. “Cyber Rupee” isn’t an RBI term.
Step 3 (Answer).
Hence, it is a CBDC.
Common Pitfall.
Equating CBDC with UPI/Wallets—UPI moves bank money; CBDC is central bank money.
\[ \boxed{\text{(C) Central Bank Digital Currency}} \]
“Digital Rupee” is RBI’s CBDC, i.e., sovereign legal tender in digital form (wholesale pilot used for inter-bank settlement).
Step 2 (Contrast with wallet/crypto).
A virtual wallet is just a container for money; CBDC is the money itself. “Cyber Rupee” isn’t an RBI term.
Step 3 (Answer).
Hence, it is a CBDC.
Common Pitfall.
Equating CBDC with UPI/Wallets—UPI moves bank money; CBDC is central bank money.
\[ \boxed{\text{(C) Central Bank Digital Currency}} \]
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Question: 5
Which technologies does cryptocurrency rely on?
Which technologies does cryptocurrency rely on?
Show Hint
Think: “Crypto” from cryptography; “-currency ledger” from blockchain.
Updated On: Aug 13, 2025
- Cryptography
- Blockchain
- Spectrography
- Both (A) and (B)
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The Correct Option is D
Solution and Explanation
Step 1 (Core ingredients).
- Cryptography: digital signatures, hashing, keys $\Rightarrow$ security and ownership. - Blockchain: distributed ledger $\Rightarrow$ consensus and immutability.
Step 2 (Eliminate).
Spectrography is a physics technique; irrelevant to crypto systems.
\[ \boxed{\text{(D) Both (A) and (B)}} \]
- Cryptography: digital signatures, hashing, keys $\Rightarrow$ security and ownership. - Blockchain: distributed ledger $\Rightarrow$ consensus and immutability.
Step 2 (Eliminate).
Spectrography is a physics technique; irrelevant to crypto systems.
\[ \boxed{\text{(D) Both (A) and (B)}} \]
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Question: 6
Name the Government of India-owned corporation that mints legal tender coins in India.
Name the Government of India-owned corporation that mints legal tender coins in India.
Show Hint
Coins: SPMCIL; Notes: RBI issues via SPMCIL/BRBNMPL presses—don’t mix roles.
Updated On: Aug 13, 2025
- National Institute of Financial Management
- Security Printing and Minting Corporation of India Ltd.
- India Infrastructure Finance Company Ltd.
- National Bank of Agricultural and Rural Development
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The Correct Option is B
Solution and Explanation
Step 1 (Know the agency).
SPMCIL (Ministry of Finance) operates mints (Mumbai, Kolkata, Hyderabad, Noida) and presses for notes/bonds/stamps.
Step 2 (Eliminate others).
NIFM = training institute; IIFCL = infra finance; NABARD = agri–rural refinance bank.
Step 3 (Answer).
Therefore, SPMCIL is correct.
\[ \boxed{\text{(B) SPMCIL}} \]
SPMCIL (Ministry of Finance) operates mints (Mumbai, Kolkata, Hyderabad, Noida) and presses for notes/bonds/stamps.
Step 2 (Eliminate others).
NIFM = training institute; IIFCL = infra finance; NABARD = agri–rural refinance bank.
Step 3 (Answer).
Therefore, SPMCIL is correct.
\[ \boxed{\text{(B) SPMCIL}} \]
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Question: 7
Who was the Founder and Former Chairman of Satyam Computer Services Ltd., later jailed and fined for a corporate governance scam?
Who was the Founder and Former Chairman of Satyam Computer Services Ltd., later jailed and fined for a corporate governance scam?
Show Hint
Use “Sector + Crime” pairing: IT + accounting fraud $\to$ Satyam/Raju; Bank LoUs $\to$ Nirav Modi; Stock rigging $\to$ Mehta/Parekh.
Updated On: Aug 13, 2025
- Harshad Mehta
- Ketan Parekh
- B. Ramalinga Raju
- Nirav Modi
Hide Solution
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The Correct Option is C
Solution and Explanation
Step 1 (Identify the case).
The Satyam accounting fraud (2009) was confessed by its founder B. Ramalinga Raju—inflated revenues/profits, fictitious cash.
Step 2 (Eliminate other scams).
Harshad Mehta, Ketan Parekh — stock market scams; Nirav Modi — PNB LoUs fraud. None are Satyam.
Step 3 (Answer).
Hence, (C) is correct.
Common Pitfall.
Picking Harshad Mehta because he’s famous—always tie the sector: IT company scam $\Rightarrow$ Satyam $\Rightarrow$ Raju.
\[ \boxed{\text{(C) B. Ramalinga Raju}} \]
The Satyam accounting fraud (2009) was confessed by its founder B. Ramalinga Raju—inflated revenues/profits, fictitious cash.
Step 2 (Eliminate other scams).
Harshad Mehta, Ketan Parekh — stock market scams; Nirav Modi — PNB LoUs fraud. None are Satyam.
Step 3 (Answer).
Hence, (C) is correct.
Common Pitfall.
Picking Harshad Mehta because he’s famous—always tie the sector: IT company scam $\Rightarrow$ Satyam $\Rightarrow$ Raju.
\[ \boxed{\text{(C) B. Ramalinga Raju}} \]
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