Directions: Read the following passage and answer the questions given below. Some words may be highlighted for you. Pay attention. LIC is known as India's largest government-owned life insurance and investment corporation. The main role of LIC is to invest in global financial markets and different government securities after gathering funds from people through their various life insurance policies. At least 75% of these gathered funds are to be invested in Central and State Government securities, as stated by one of the LIC rules. The major functions of LIC are as follows:- Collect people’s savings in exchange for an insurance policy and promote savings in the country. Protect the capital of the people by investing funds into government securities. Issue insurance policies at affordable rates provide various loans like direct loans to industries, housing loans, loans to various national projects at reasonable interest rates. LIC aims to spread awareness about the importance of life insurance among people living in rural areas and people who are a part of socially and economically backward classes. It aims to meet several life insurance needs of the community people who are subjected to change with the changing social and economic environment. It aims to conduct business economically while taking into consideration that the money belongs to the policyholders. It aims to maximization of the mobility of people’s savings through attractive insurance-linked savings. It aims in providing the utmost job satisfaction to all the agents and employees of the corporation and promotes building a cooperative work environment to deliver efficient service with courtesy to its insured public. It aims to deploy the funds to the best advantage of the investors and the community as well.
The LIC subscribes to and underwrites the shares, bonds, and debentures of several financial corporations and companies and grants term loans. It maintains a relationship with other financial institutions such as IDBI, UTI, IFCI, etc for coordination of its investment. The investment policy of the LIC of India should bring a fair return to policyholders consistent with safety. Since the funds at the disposal of the LIC are in the nature of the trust money, they should be invested in such securities which do not diminish in value and give the highest possible return.
What is the synonym of disposal?
discard
Understanding the Word "Disposal"
The question asks for a synonym of the word "disposal" based on the provided passage about LIC. Words often have multiple meanings, and understanding the context is crucial to finding the correct synonym.
Meanings of "Disposal"
The word "disposal" is a noun derived from the verb "dispose". It has several meanings, including:
1. The act of getting rid of something. For example, "waste disposal" refers to the act of discarding waste.
2. The action or process of selling something, especially an asset or property.
3. Availability for use by someone. The phrase "at the disposal of someone" means available for them to use as they wish.
Analyzing the Passage's Usage
In the passage, the sentence reads: "Since the funds at the disposal of the LIC are in the nature of the trust money, they should be invested in such securities which do not diminish in value and give the highest possible return."
Here, "at the disposal of the LIC" means the funds that are available for the LIC to use for investment. This aligns with the third meaning listed above.
Examining the Options
Let's look at the provided options and their meanings:
- Keeping: The action of retaining or preserving something.
- Retention: The continued possession, use, or control of something.
- discard: To throw away or get rid of something.
- Hold: To keep or retain possession of something.
- Beginning: The point or time where something begins.
Finding the Synonym
While the passage uses "disposal" in the sense of availability for use, the provided options do not directly offer a synonym for this meaning (like 'availability' or 'control'). However, one common meaning of the word "disposal" is related to the act of getting rid of something. The verb "discard" means to get rid of something.
Therefore, considering the different meanings of "disposal", "discard" serves as a synonym for the meaning related to getting rid of or throwing away something (as in waste disposal). The question asks for a synonym of the word itself, and "discard" is related to one of its established meanings.
Based on common definitions and the provided options, the word that functions as a synonym for "disposal" in the sense of getting rid of something is "discard".
Important Questions from Reading Comprehension
Why, according to the writer can't people be motivated to use a resource prudently?
1. They feel that others may overuse the resource
2. It is possible to substitute the resource
3. Abundance of the resource availability
Select the correct answer using the code given below:
When do people use resources exhaustively?
The self-interest of people affects the use of renewable resources
People rooted in a locality
Which among the following is closest in meaning with the word 'deplete'?
