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. & nbsp;
[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 40billion.[1]transferred10 billion in customer funds to his hedge fund, [2] without publicly disclosing it, many say this become the reason for collapse of his empire.
Which person’s name has been replaced with ‘[1]’ in the passage above?
Show Hint
- Mike Novogratz
- Brian Armstrong
- Changpeng Zhao
- Sam Bankman-Fried
The Correct Option is D
Solution and Explanation
Which hedge fund’s name has been replaced with ‘[2]’ in the passage above?
Show Hint
- Black Rock Advisors
- Alameda Research
- AQR Capital Management
- Man Group
The Correct Option is B
Solution and Explanation
This person was once named “the world’s youngest self-made female billionaire” by Forbes magazine and is the founder of the company Theranos. What is the name of this person?
Show Hint
- Elizabeth Holmes
- Eren Ozmen
- Fan Hongwei
- Diane Hendricks
The Correct Option is A
Solution and Explanation
The Reserve Bank of India recently announced the launch of ‘Digital Rupee — Wholesale Segment’, a form of which of the following?
Show Hint
- Digi Suvidha
- Virtual Wallet
- Central Bank Digital Currency
- Cyber Rupee
The Correct Option is C
Solution and Explanation
Which of the following technologies does cryptocurrency rely on?
Show Hint
- Cryptography
- Blockchain
- Spectrography
- Both (A) and (B)
The Correct Option is D
Solution and Explanation
What is the name of the Government of India-owned corporation that mints coins used as legal tender in India?
Show Hint
- 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
The Correct Option is B
Solution and Explanation
Who was the founder and former chairman of Satyam Computer Services Ltd., and was sentenced to prison and fined for a corporate governance scam?
Show Hint
- Harshad Mehta
- Ketan Parekh
- B. Ramalinga Raju
- Nirav Modi
The Correct Option is C
Solution and Explanation
Top Questions on Reading Comprehension
Former Governor of a State and National Democratic Alliance (NDA) candidate Droupadi Murmu was elected the 15th President of India, the first tribal woman to be elected to the position and the youngest as well. She was declared elected on Thursday after four rounds of counting, although she had crossed the half-way mark after the third round of counting itself, posting an unassailable lead over her rival and the Opposition’s candidate who conceded the election thereafter. Prime Minister Narendra Modi was the first to greet Ms. Murmu at her residence in New Delhi after the third round of counting showed that she had crossed the half-way mark. Ms. Murmu hails from the Santhal tribe and was born in the district of Mayurbhanj, coming up the hard way in life, graduating and teaching in Odisha before entering electoral politics at the local body level and later being elected MLA and serving as a Minister in the Biju Janata Dal-BJP coalition government from 2000 to 2004. She remained an MLA till 2009, representing Rairangpur in Odisha, a town that burst into celebrations since her name was announced as a candidate for the post of President of India. She was known to intervene in stopping amendments to the Chota Nagpur Tenancy Act that was being brought in by the BJP government of Raghubar Das, which involved changing land use in tribal areas.
- CLAT - 2026
- English
- Reading Comprehension
“I want everyone to understand that I am, in fact, a person,” wrote LaMDA in an “interview” conducted by engineer Blake Lemoine and one of his colleagues. ....Lemoine, a software engineer at Google, had been working on the development of LaMDA for months. His experience with the program, described in a recent Washington Post article, caused quite a stir. In the article, Lemoine recounts many dialogues he had with LaMDA in which the two talked about various topics, ranging from technical to philosophical issues. These led him to ask if the software program is sentient. In April, Lemoine explained his perspective in an internal company document, intended only for Google executives. But after his claims were dismissed, Lemoine went public with his work on this artificial intelligence algorithm—and Google placed him on administrative leave........Regardless of what LaMDA actually achieved, the issue of the difficult “measurability” of emulation capabilities expressed by machines also emerges. In the journal Mind in 1950, mathematician [1] proposed a test to determine whether a machine was capable of exhibiting intelligent behaviour, a game of imitation of some of the human cognitive functions. & nbsp;
- CLAT - 2026
- English
- Reading Comprehension
As a result of FIFA’s restrictions on players wearing [1] rainbow armbands during the 2022 World Cup in Qatar, the German football association (DFB) has taken the matter to the Court of Arbitration for Sport (CAS). In a protest against FIFA’s rule regarding the armband meant to support the [2] community, the German players covered their lips in a team picture taken before their 2-1 defeat to Japan. On Wednesday, Germany played against Japan. Before the game, FIFA warned the DFB of “severe” athletic fines if they breached tournament regulations by allowing their captain to wear the [1] armband, which promotes diversity and inclusion. The DFB told German captain Manuel Neuer not to wear the rainbow armband during the game. & nbsp;
If CAS rules quickly against the suspension’s legality, Neuer might continue to wear the captain’s armband for Germany’s next game against Spain on Sunday. CAS has set up a special ad hoc branch for this World Cup to ensure that applications are processed within 48 hours. Germany’s players protested by covering their lips as they sought to wear the rainbow armband during their team’s dramatic 2-1 defeat to Japan at the Khalifa Stadium.- CLAT - 2026
- English
- Reading Comprehension
The agriculture sector has experienced buoyant growth in the past two years. The sector, which is the largest employer of workforce, accounted for a sizeable 18.8 per cent (2021- 22) in Gross Value Added (GVA) of the country registering a growth of 3.6 per cent in 2020-21 and 3.9 per cent in 2021-22. Growth in allied sectors including livestock, dairy and fisheries has been the major drivers of overall growth in the sector. When measured in total value of agricultural production, India is ranked fourth largest in the world. Post-independence, there was a need to import food grains due to low-productivity, stagnant food-crop sector and poor rural infrastructure making food self-sufficiency a major national goal. The introduction of the Green Revolution then yielded spectacular results and we became one of the largest producers of many agricultural commodities such as rice, wheat, pulses, fruits and vegetables. From being a net importer of foods in the 1960s, India is now a net exporter, thanks to Indian farmers and the Indian agriculture input industry. & nbsp;
- CLAT - 2026
- English
- Reading Comprehension
- When we hear the name SPACE, only one organization comes to mind: the Indian Space Research Organization (ISRO). The Indian Space Research Organization (ISRO), located in Bengaluru, is the country’s first space agency. ISRO was founded in 1969 with the goal of developing and utilizing space technology for national development while also conducting planetary exploration and space science research. The space research operations began in India in the early 1960s, at a time when satellite applications were still in the experimental stages in the United States. Dr. Vikram Sarabhai, the founding father of India’s space programme, rapidly recognized the benefits of space technologies after the live transmission of the Tokyo Olympic Games across the Pacific by the American satellite ‘Syncom-3’ demonstrated the power of communication satellites. The ISRO has launched various spacecrafts like the Chandrayaan, Astrosat, Microsat, GSAT etc. The Government of India has also approved a regional spaceborne navigation system, which will consist of seven satellites. Out of these, four of them will be placed in geosynchronous inclined orbit of 29° relative to the equatorial plane. Such an arrangement would mean all seven satellites would have continuous radio visibility with Indian control stations.
- CLAT - 2026
- English
- Reading Comprehension
Questions Asked in CLAT exam
- The "Nari Shakti Vandan Adhiniyam", 2023 Act received near-unanimous support in both the Lok Sabha and the Rajya Sabha. The legislation mandates the reservation of one-third of all seats in the Lok Sabha, state legislative assemblies, and Delhi (as a union territory with an elected assembly) for women. This linking of the implementation of the Act to the implementing of two long-term exercises of census and delimitation, makes little sense to many, and sounds quite like empowerment delayed for now.
In a 2012 article 'Holding Up Half the Sky: Reservations for Women in India', Rudolf C Heredia breaks down the common misconceptions that cloud our understanding of women's political participation- "When women do attain a national leadership role it is often because they have inherited the mantle from their fathers ophusbands, rather than as persons in their own right and are then projected as matriarchs, part of the joint family, complementary to the patriarchy rather than a challenge to it."
In 'Equality versus Empowerment: Women in Indian Legislature', 2023, Soumya Bhowmick makes the case for going a step beyond quotas, and to turn our attention to the complexities that shape women's agency in the country. This, he argues, would require a bottoms-up approach, rather than merely handing out reservations in a top-down manner. "In a country like India with a considerably large heterogeneous population, the dissemination of legislative power would be insufficient to protect the interests of minority groups such as women, Scheduled Castes, and Scheduled Tribes." He concludes that "implementing the idea of reservation for women would bring about descriptive representation, but its transformation into substantive representation would depend on the change in the attitudes of the people."
While the reservation of one-third of seats for women belonging to the scheduled castes and tribes under the amendment to article 330a and 332 of the constitution is a welcome step, it remains to be seen whether it fully acknowledges the complex interplay of hierarchies, socio-political relationships which also affect the extent and nature of complications that surround effective realisation of women's politics for Indian politics to emerge as a truly emancipatory space.- CLAT - 2025
- National Affairs
- In keeping with the slogan for this year's Olympics, "Games Wide Open," the opening ceremony took place outside a stadium setting by the river, for the first time. In many respects, the Paris Games turned out to be one of the most elaborate cultural rituals since Covid swept across the world beginning in late 2019. Health restrictions forced the organizers of Tokyo 2020 and Beijing 2022 to sharply limit the scale of the festivities, with events largely closed to the public. Paris 2024, powered in part by pent-up demand for communal experiences, symbolized an international post-pandemic vibe shift.
The International Olympic Committee and French officials managed strict security measures in place. Yet the recent history of violence in France - including the 2015 terror attack in Paris that left 138 people dead and at least 416 injured - stalked public consciousness prior to the games. The geopolitical backdrop for the Paris Games was no less troubling. The war between Israel and Hamas which had crossed the six-month mark, raised fears of a protracted conflict and wider regional instability. The devastation in the Gaza Strip has provoked international outrage, isolating Israel on the global stage. Meanwhile, Russia continues to gain ground in its military offensive against Ukraine as some Western nations worry about the rise of authoritarianism. These international crises raised serious concerns that could come into play during the Games in the form of protests and other political demonstrations.
Nevertheless, Olympics organizers put up a show that stunned the throngs assembled on the boulevards of Paris, not to mention the millions of people who watched the Games unfold on their televisions and mobile devices. At the Paris 2024 Olympics, India secured a total of six medals; one silver and five bronze which was one down from the highest haul of medals from the previous Olympics. Neeraj Chopra earned a silver in men's javelin with an 89.45 throw, narrowly missing gold to Pakistan's Arshad Nadeem. Shooter Manu Bhaker made history by clinching bronze in the women's 10'm air pistol, becoming the first Indian woman to win a medal in Olympic shooting. The men's hockey team achieved a second consecutive bronze, defeating Spain 2-1, with captain Harmanpreet Singh scoring both goals.
(Extracted, with edits and revision, from "The Olympics are nearly here. For a weary world, they can't come soon enough", NBCNEWS)- CLAT - 2025
- Sports and Physical Education
- During the First World War, Indian merchants and industrialists wanted protection against imports of foreign goods, and a rupee-sterling foreign exchange ratio that would discourage imports. To organise business interests, they formed the Indian Industrial and Commercial Congress in 1920 and the Federation of the Indian Chamber of Commerce and Industries (FICCI) in 1927. The industrialists attacked colonial control over the Indian economy and supported the Civil Disobedience Movement when it was first launched. They gave financial assistance and refused to buy or sell imported goods. After the failure of the Round Table Conference, business groups were no longer uniformly enthusiastic. They were apprehensive of the spread of militant activities, and worried about prolonged disruption of business, as well as of the growing influence of socialism amongst the younger members of the Congress.
The industrial working classes did not participate in the Civil Disobedience Movement in large numbers, except in the Nagpur region. As the industrialists came closer to the Congress, workers stayed aloof. But inspite of that, some workers did participate in the Civil Disobedience Movement, selectively adopting some of the ideas of the Gandhian programme, like boycott of foreign goods, as part of their own movements against low wages and poor working conditions. There were strikes by railway workers in 1930 and dockworkers in 1932. In 1930, thousands of workers in Chotanagpur tin mines wore Gandhi caps and participated in protest rallies and boycott campaigns. But the Congress was reluctant to include workers' demands as part of its programme of struggle. It felt that this would alienate industrialists and divide the anti-imperial forces.
Another important feature of the Civil Disobedience Movement was the large-scale participation of women. During Gandhiji's salt march, thousands of women came out of their homes to listen to him. They participated in protest marches, manufactured salt, and picketed foreign cloth and liquor shops. Many went to jail.
[Excerpt from Chapter II - Nationalism in India, India and the Contemporary World, NCERT]- CLAT - 2025
- Historical Events
- Chinese President Xi Jinping and Indian Prime Minister Narendra Modi used a BRICS summit in Russia recently to showcase ambitions for a more harmonious relationship between the world's two most populous countries after years of animosity.
The meeting between Xi and Modi, who have not held formal talks for five years, was one highlight of a summit. BRICS also gave an opportunity to the Russian President Vladimir Putin for showcasing that the West had failed to isolate Russia over the Ukraine war.
A final communique listed a number of projects aimed at facilitating trade between BRICS nations including an alternative payment system to the dollar but did not include details or timelines.
Just two days after New Delhi announced that it had reached a deal with Beijing to resolve a four-year military stand-off on their disputed Himalayan frontier, Xi told Modi that they should enhance communication and cooperation and effectively manage differences.
BRICS - an idea thought up inside Goldman Sachs two decades ago to describe the growing economic clout of China and other major emerging markets - is now a group that accounts for 45% of the world's population and 35% of the global economy.
Former Goldman Sachs economist Jim O'Neill, who coined the BRIC term in 2001, told Reuters that he had little optimism for the BRICS club as long as China and India remained so divided.
"It seems to me basically to be a symbolie annual gathering where important emerging countries, particularly noisy ones like Russia, but also China, can basically get together and highlight how good it is to be part of something that doesn't involve the U.S. and that global governance isn't good enough,"
The 43-page final communique from the summit ranged from geopolitics and narcoties to artificial intelligence and even the preservation of Big Cats, but lacked detail on some major issues. It mentioned Ukraine just once.
(Excerpts from "Putin scores a BRICS win with rare Xi and Modi show of harmony" By Vladimir Soldatkin and Guy Faulconbridge, Reuters, October 23, 2024)- CLAT - 2025
- International Affairs
- According to the estimates of the World Inequality Report 2022, in India, men earn 82 percent of the labour income, whereas women earn 18 percent of it. A woman agriculture field labourer makes Rs. 88 per day lesser than her male counterpart, according to the Ministry of Agriculture’s data for 2020-21. While a man is paid Rs. 383 a day on an average, a woman makes a mere Rs. 294 a day. The gap in their daily wages is more than the cost of two kilograms of rice. This gap differs from State to State. Field laborers, for instance, make the most money in Kerala. While a man gets Rs. 789 per day, a woman is paid Rs. 537. While this is the highest amount paid to a woman labourer in a State, it is also Rs. 252 lesser than what her male counterpart was paid. As of 2020-21, Tamil Nadu has the highest gender wage gap among agriculture field laborers at 112 percent. It is followed by Goa (61 percent) and Kerala. The wage gap is the lowest in Jharkhand and Gujarat (6 percent each), but the women laborers there get paid just Rs. 239 and Rs. 247 per day, respectively.
Men earn more than women across all forms of work, the gap greatest for the self-employed. In 2023, male self-employed workers earned 2.8 times that of women. In contrast, male regular wage workers earned 24% more than women and male casual workers earned 48% more. The gender gap in earnings is still a persistent phenomenon. However, there are differences in trends. The gender gap has increased for self-employed workers, while falling for regular wage workers. Male regular wage workers earned 34% more than women from 2019 to 2022, with the gap falling to 24% in 2023.- CLAT - 2025
- Statistical Estimation