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Updated on: 13 Sep 2019, 03:33
Originally posted by Skywalker18 on 29 Apr 2018, 22:05.
Last edited by Sajjad1994 on 13 Sep 2019, 03:33, edited 1 time in total.
Last edited by Sajjad1994 on 13 Sep 2019, 03:33, edited 1 time in total.
Updated - Complete topic (536).
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Question 1
A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
76% (02:37) correct
24%
(02:26) wrong
based on 367
sessions
History
Date
Time
Result
Not Attempted Yet
Question 2
A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
79% (01:06) correct 21%
(01:11) wrong
based on 355
sessions
History
Date
Time
Result
Not Attempted Yet
Question 3
D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
65%
(hard)
Question Stats:
48% (01:30) correct 52%
(01:29) wrong
based on 356
sessions
History
Date
Time
Result
Not Attempted Yet
The Grameen Bank, founded in Bangladesh by Nobel Peace Prize Laureate, Dr. Muhammad Yunus, who is also credited for giving life to the concept of microcredit/microfinance, is one of the most popular models of social business, a business that operates primarily for addressing social needs and not for-profit. Based on the concept of microfinance, Grameen provides microloans, small loans, to the poor and those living beyond the reach of traditional finance, in order to promote income generating activities, avoiding the more traditional form of poverty alleviation - aid donations. The original focus of the Grameen Bank was on rural people with no credit history and no collateral. However, the bank rapidly expanded, giving the illusion of a win-win situation that yielded both profits for Grameen Bank and huge improvements in development for Bangladesh. Private, for-profit organizations around the world wrongly judged the situation, thinking that they could first and foremost profit from this type of venture while developing the country in the process. This view was indeed tainted since Grameen’s goal was development and any profits were an added bonus. Because of these wrong expectations, the Grameen model has achieved limited success in countries other than those in South-East Asia, though the concept of microfinance has had better luck, with many countries now running profitable microfinance institutions that typically charge considerably higher interest rates for zero collateral loans than Grameen ever would.
1.Which of the following best captures the main idea of the passage?
A.To explain a model and a reason behind its limited success in some countries
B.To show how the focus of a concept changed as it achieved success with time
C.To explain the reason behind the success of a concept in South East Asian countries
D.To highlight how a model is a not very ideal one for-profit oriented microfinance oriented organizations
E.To discuss the various models of microfinance operational in countries within and outside South East Asia
2. Which one of the following statements can be inferred about the for-profit microfinance institutions?
A.The coexistence of profit and development under the Grameen model was not interpreted correctly by such institutions
B.They are profitable models of social business.
C.They were responsible for the complete failure of Grameen as a model of microfinance.
D.Such institutions are not operational in Bangladesh.
E.Such institutions are not likely to offer loans to applicants who do not have any collateral security to offer.
3.According to the passage, which one of the following statements is true?
A.When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successful
B.There is a limited scope of Grameen’s success in countries outside South East Asia.
C.Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen.
D.Granting a sum of money as charity to the poor is not a part of Grameen’s operations.
E.Institutions offering traditional loans charge much higher interest rates than Grameen does.
A.To explain a model and a reason behind its limited success in some countries
B.To show how the focus of a concept changed as it achieved success with time
C.To explain the reason behind the success of a concept in South East Asian countries
D.To highlight how a model is a not very ideal one for-profit oriented microfinance oriented organizations
E.To discuss the various models of microfinance operational in countries within and outside South East Asia
2. Which one of the following statements can be inferred about the for-profit microfinance institutions?
A.The coexistence of profit and development under the Grameen model was not interpreted correctly by such institutions
B.They are profitable models of social business.
C.They were responsible for the complete failure of Grameen as a model of microfinance.
D.Such institutions are not operational in Bangladesh.
E.Such institutions are not likely to offer loans to applicants who do not have any collateral security to offer.
3.According to the passage, which one of the following statements is true?
A.When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successful
B.There is a limited scope of Grameen’s success in countries outside South East Asia.
C.Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen.
D.Granting a sum of money as charity to the poor is not a part of Grameen’s operations.
E.Institutions offering traditional loans charge much higher interest rates than Grameen does.
30 Apr 2018, 01:28
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Summary: Grameen Bank is a model of social business and not for profit.
It expanded, reported profits and contributed to the development of Bangladesh.
Other countries tried to replicate the success of Grameen Bank but failed to do so.
1. Which of the following best captures the main idea of the passage?
A.To explain a model and a reason behind its limited success in some countries - Correct
B.To show how the focus of a concept changed as it achieved success with time - The focus of Grameen Bank as a concept did not change.
C.To explain the reason behind the success of a concept in South East Asian countries - Opposite.
D.To highlight how a model is a not very ideal one for-profit oriented microfinance oriented organizations - Partial scope.
E.To discuss the various models of microfinance operational in countries within and outside South East Asia - Not relevant
Answer: A
2. Which one of the following statements can be inferred about the for-profit microfinance institutions?
A.The coexistence of profit and development under the Grameen model was not interpreted correctly by such institutions - Correct
B.They are profitable models of social business. - Opposite. They were not started with the intentions of profit
C.They were responsible for the complete failure of Grameen as a model of microfinance. - Not stated.
D.Such institutions are not operational in Bangladesh. - Not stated
E.Such institutions are not likely to offer loans to applicants who do not have any collateral security to offer. - Opposite. They offer no collateral loans at high interest .
Answer: A
3.According to the passage, which one of the following statements is true?
A.When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successful - No information on the number of people who applied for loan in the urban areas before and after it became popular.
B.There is a limited scope of Grameen’s success in countries outside South East Asia. - There may be scope but the intention was different in countries outside South East Asia.
C.Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen. - Not stated.
D.Granting a sum of money as charity to the poor is not a part of Grameen’s operations. - Correct. Grameen gave out loans and did not grant money as charity to the poor.
E.Institutions offering traditional loans charge much higher interest rates than Grameen does. - Not stated.
Answer: D
It expanded, reported profits and contributed to the development of Bangladesh.
Other countries tried to replicate the success of Grameen Bank but failed to do so.
1. Which of the following best captures the main idea of the passage?
A.To explain a model and a reason behind its limited success in some countries - Correct
B.To show how the focus of a concept changed as it achieved success with time - The focus of Grameen Bank as a concept did not change.
C.To explain the reason behind the success of a concept in South East Asian countries - Opposite.
D.To highlight how a model is a not very ideal one for-profit oriented microfinance oriented organizations - Partial scope.
E.To discuss the various models of microfinance operational in countries within and outside South East Asia - Not relevant
Answer: A
2. Which one of the following statements can be inferred about the for-profit microfinance institutions?
A.The coexistence of profit and development under the Grameen model was not interpreted correctly by such institutions - Correct
B.They are profitable models of social business. - Opposite. They were not started with the intentions of profit
C.They were responsible for the complete failure of Grameen as a model of microfinance. - Not stated.
D.Such institutions are not operational in Bangladesh. - Not stated
E.Such institutions are not likely to offer loans to applicants who do not have any collateral security to offer. - Opposite. They offer no collateral loans at high interest .
Answer: A
3.According to the passage, which one of the following statements is true?
A.When Grameen started functioning, there were fewer people in the urban areas of Bangladesh who applied for a loan from it than there were when it became more successful - No information on the number of people who applied for loan in the urban areas before and after it became popular.
B.There is a limited scope of Grameen’s success in countries outside South East Asia. - There may be scope but the intention was different in countries outside South East Asia.
C.Microfinance as a concept is more successful for for-profit oriented microfinance institutions than for Grameen. - Not stated.
D.Granting a sum of money as charity to the poor is not a part of Grameen’s operations. - Correct. Grameen gave out loans and did not grant money as charity to the poor.
E.Institutions offering traditional loans charge much higher interest rates than Grameen does. - Not stated.
Answer: D
15 Oct 2018, 22:40
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Q1 A
Q2 A
"Private, for-profit organizations around the world wrongly judged the situation, thinking that they could first and foremost profit from this type of venture while developing the country in the process"
Q3 D
"Grameen provides microloans, small loans, to the poor and those living beyond the reach of traditional finance, in order to promote income generating activities, avoiding the more traditional form of poverty alleviation - aid donations"
Q2 A
"Private, for-profit organizations around the world wrongly judged the situation, thinking that they could first and foremost profit from this type of venture while developing the country in the process"
Q3 D
"Grameen provides microloans, small loans, to the poor and those living beyond the reach of traditional finance, in order to promote income generating activities, avoiding the more traditional form of poverty alleviation - aid donations"
) 
