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 become 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 become 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?
Updated On: Jul 14, 2026
- Mike Novogratz
- Brian Armstrong
- Changpeng Zhao
- Sam Bankman-Fried
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The Correct Option is D
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The correct option is (D):Sam Bankman-Fried .
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The passage gives several identifying clues, physics at MIT, co-founder and former CEO of a major crypto exchange, a $26 billion fortune wiped out, and a $10 billion transfer to his own hedge fund, so the task is to match these clues against each name.
- Mike Novogratz: Novogratz is a former hedge fund manager who founded Galaxy Digital, a crypto merchant bank. He never ran FTX and was not accused of transferring customer funds to a hedge fund, so the clues about MIT physics and FTX's collapse do not fit him.
- Brian Armstrong: Armstrong co-founded and still runs Coinbase, a publicly listed crypto exchange that was never accused of the misconduct described here. Coinbase did not file for bankruptcy, so this option does not match the passage.
- Changpeng Zhao: Zhao founded and runs Binance, FTX's biggest rival. He is known for withdrawing support for FTX during its crisis, which sped up its collapse, but he was not FTX's own co-founder or CEO, so he is not the person the passage describes.
- Sam Bankman-Fried: Every detail in the passage lines up with him: he studied physics at MIT, traded currencies and futures before moving into crypto, co-founded FTX with Gary Wang in 2019, saw his estimated $26 billion fortune wiped out, and is accused of moving $10 billion in customer funds to his own hedge fund.
Only Sam Bankman-Fried matches the specific biography, the MIT physics background, the FTX co-founding and collapse, and the undisclosed transfer to a hedge fund, given in the passage.
Therefore, the correct answer is 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?
Updated On: Jul 14, 2026
- BlackRock Advisors
- Alameda Research
- AQR Capital Management
- Man Group
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The Correct Option is B
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The correct option is (B):Alameda Research .
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The passage says [1] "transferred $10 billion in customer funds to his hedge fund, [2], without publicly disclosing it," so the blank names the specific hedge fund that received these funds.
- BlackRock Advisors: BlackRock is one of the world's largest asset managers, but it is an independent, publicly known firm with no ownership link to Sam Bankman-Fried or FTX, so it does not fit the passage.
- Alameda Research: Alameda Research is the trading firm Sam Bankman-Fried set up in 2017, before FTX existed. It was his own hedge fund, and reporting on the FTX collapse centres on customer funds being routed to Alameda without disclosure, exactly what the passage describes.
- AQR Capital Management: AQR is a well known quantitative hedge fund, but it was founded independently by Cliff Asness and has no connection to Bankman-Fried or FTX.
- Man Group: Man Group is a large, long-established hedge fund manager based in London, again unconnected to Bankman-Fried's own trading firm.
Of the four, only Alameda Research is the fund Bankman-Fried personally founded and is alleged to have quietly funnelled FTX customer money into.
Therefore, the correct answer is Alameda Research.
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Question: 3
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?
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?
Updated On: Jul 14, 2026
- Elizabeth Holmes
- Eren Ozmen
- Fan Hongwei
- Diane Hendricks
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The Correct Option is A
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The correct option is (A):Elizabeth Holmes .
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The clues to match are specific: "world's youngest self-made female billionaire" as named by Forbes, and founder of Theranos.
- Elizabeth Holmes: Holmes founded Theranos, a blood-testing startup, while still in her twenties, and Forbes did once list her as the world's youngest self-made female billionaire based on the company's inflated valuation. Theranos later collapsed after its technology was found not to work, and Holmes was convicted of fraud.
- Eren Ozmen: Ozmen is a Turkish-American billionaire and co-owner of Sierra Nevada Corporation, an aerospace company, but she built her wealth over decades and was never called the world's youngest self-made female billionaire, nor did she found Theranos.
- Fan Hongwei: Fan Hongwei is a Chinese billionaire connected to Hengli Group, a petrochemical business, with no connection to Theranos or the "youngest" title.
- Diane Hendricks: Hendricks co-founded ABC Supply, a building materials company, and became a billionaire later in life, so she does not match the "youngest" description or the Theranos link.
Only Elizabeth Holmes fits both the Theranos connection and the Forbes "youngest self-made female billionaire" description.
Therefore, the correct answer is Elizabeth Holmes.
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Question: 4
The Reserve Bank of India recently announced the launch of ‘Digital Rupee — Wholesale Segment’, a form of which of the following?
The Reserve Bank of India recently announced the launch of ‘Digital Rupee — Wholesale Segment’, a form of which of the following?
Updated On: Jul 14, 2026
- Digi Suvidha
- Virtual Wallet
- Central Bank Digital Currency
- Cyber Rupee
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The Correct Option is C
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The correct option is (C):Central Bank Digital Currency .
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The question asks what category the RBI's "Digital Rupee, Wholesale Segment" belongs to.
- Digi Suvidha: this is not an RBI digital currency term at all, it does not correspond to any recognised RBI scheme connected to the Digital Rupee.
- Virtual Wallet: a virtual wallet is simply a payment app that stores existing money or card details, such as Paytm or Google Pay. The Digital Rupee is not a wallet, it is a new form of currency itself, issued directly by the central bank.
- Central Bank Digital Currency: a Central Bank Digital Currency (CBDC) is a digital form of a country's official currency, issued and backed by its central bank, carrying the same legal status as physical cash. The RBI's Digital Rupee, including its Wholesale Segment for interbank settlement, is exactly this: a sovereign digital currency issued by the RBI.
- Cyber Rupee: "Cyber Rupee" is not an official or commonly used term for the RBI's digital currency, it appears here only as a plausible-sounding distractor.
The Digital Rupee is issued directly by the RBI as legal tender in digital form, which is the definition of a Central Bank Digital Currency.
Therefore, the correct answer is Central Bank Digital Currency.
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Question: 5
Which of the following technologies does cryptocurrency rely on?
Which of the following technologies does cryptocurrency rely on?
Updated On: Jul 14, 2026
- Cryptography
- Blockchain
- Spectrography
- Both (A) and (B)
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The Correct Option is D
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The correct option is (D):Both (A) and (B) .
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The question asks which technology or technologies cryptocurrency depends on, so each option needs to be checked against how cryptocurrencies actually work.
- Cryptography: cryptography, the mathematical techniques used to secure information, is what protects wallets, signs transactions, and proves ownership of coins without revealing private keys. Every cryptocurrency transaction is authorised using cryptographic signatures, so cryptography is essential.
- Blockchain: a blockchain is the distributed, tamper-resistant ledger that records every transaction in linked blocks across a network of computers. This is what lets a cryptocurrency exist without a central bank or clearing house, since the ledger itself is the shared source of truth. It is equally essential.
- Spectrography: spectrography is a technique used in fields like chemistry and astronomy to analyse light or signals, it has no role in how a cryptocurrency is created, secured, or transferred.
- Both (A) and (B): since cryptography secures individual transactions and blockchain provides the shared ledger that records them, a working cryptocurrency needs both operating together, neither one alone is sufficient.
Cryptocurrency is built on cryptographic security layered on top of a blockchain ledger, so it depends on both technologies at once, not just one.
Therefore, the correct answer is Both (A) and (B).
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Question: 6
What is the name of the Government of India-owned corporation that mints coins used as legal tender in India?
What is the name of the Government of India-owned corporation that mints coins used as legal tender in India?
Updated On: Jul 14, 2026
- 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
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The correct option is (B):Security Printing and Minting Corporation of India Ltd.
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The question asks for the specific Government of India-owned corporation responsible for minting coins used as legal tender.
- National Institute of Financial Management: this is a training and research institute under the Ministry of Finance, focused on financial management education, it does not mint currency.
- Security Printing and Minting Corporation of India Ltd.: SPMCIL is the Government of India-owned corporation that runs the currency note presses and the mints where Indian coins are struck. Minting coins and printing currency notes and other secure documents is precisely its function.
- India Infrastructure Finance Company Ltd.: IIFCL is a government-owned company that provides long-term finance for infrastructure projects, such as roads and power, it has nothing to do with minting currency.
- National Bank of Agricultural and Rural Development: NABARD is the apex bank for agricultural and rural development finance, again unrelated to coin minting.
Of the four, only SPMCIL is actually in the business of producing India's coins and currency.
Therefore, the correct answer is Security Printing and Minting Corporation of India Ltd.
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Question: 7
Who was the founder and former chairman of Satyam Computer Services Ltd.,and was sentenced to prison and fined for a corporate governance scam?
Who was the founder and former chairman of Satyam Computer Services Ltd.,and was sentenced to prison and fined for a corporate governance scam?
Updated On: Jul 14, 2026
- Harshad Mehta
- Ketan Parekh
- B. Ramalinga Raju
- Nirav Modi
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The Correct Option is C
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The correct option is (C):B. Ramalinga Raju .
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The question asks for the founder and former chairman of Satyam Computer Services who was convicted over a corporate governance scam.
- Harshad Mehta: Mehta was a stockbroker at the centre of the 1992 Indian securities scam, involving manipulation of bank receipts and the stock market, he had no connection to Satyam.
- Ketan Parekh: Parekh was a stockbroker convicted for a separate stock market manipulation scheme in the early 2000s, again unconnected to Satyam.
- B. Ramalinga Raju: Raju founded Satyam Computer Services and served as its chairman. In 2009 he admitted to inflating the company's profits and assets for years, a scandal often called "India's Enron," and was later convicted and sentenced to prison for the fraud.
- Nirav Modi: Modi was a jeweller accused of a large fraud involving Punjab National Bank, a banking fraud case, not the Satyam corporate governance scandal.
Only B. Ramalinga Raju was Satyam's own founder and chairman, and only he was convicted in connection with that specific scam.
Therefore, the correct answer is B. Ramalinga Raju.
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Top CLAT Questions
- In the realm of contemporary literature, the interplay between character and setting is a nuanced dance that shapes the narrative’s essence. The setting, often described with painstaking detail, becomes more than a backdrop; it becomes a character, influencing the plot and character development.
Consider, for instance, the barren expanse of the desert in Jhumpa Lahiri’s The Namesake. The arid landscape mirrors the sense of isolation felt by the protagonist, Gogol, as he navigates his identity crisis in a foreign land. The relentless sun and vast sands are not mere descriptions; they are the silent witnesses to his inner turmoil.
On the other end of the literary spectrum, there is Arundhati Roy’s The God of Small Things. The lush, vibrant Kerala backwaters are not just the setting; they are a character woven into the fabric of the story. The teeming, humid landscape reflects the complex web of human relationships and secrets that unravel in the narrative. This interplay is not confined to contemporary literature alone. In Shakespeare’s timeless tragedy Macbeth, the eerie and foreboding setting of the Scottish moors casts a dark shadow over the characters’ actions. The moors, shrouded in mist and mystery, serve as an ever-present omen of the impending tragedy. - The crisis of justice that is the subject matter of discussion in the media today is in fact the crisis of “justice for the middle class”. The main difference between India and the OECD (Organisation for Economic Cooperation and Development) countries is that whereas the middle class in these countries has reasonable access to justice, in India it does not. A vocal and powerful middle class has emerged in India since 1991. It is demanding reasonable access to justice. Much of the judicial reform effort will help meet this demand…
The question of justice for the poor is, however, an altogether different challenge. No country in the world has been able to secure justice for the poor. Most of the jails of the richest countries are filled with the poorest. The “masses” are more often victims of the criminal justice system than of crime. In India as well, jails are almost exclusively filled with the poor. The civil justice system is hardly accessible to them. They are often victimised by lawyers, touts and court staff. They are docket-excluded, a new type of untouchability. The language and the logic—and the colonial and feudal culture—of the judicial system are alien to them. It rarely takes cognisance of their needs and interests.
Their main concern, therefore, is to escape the attention of the justice system, criminal and civil. A landless Dalit person in the interior of Madhya Pradesh once gave me an insightful definition of a court from the perspective of the masses: “A court is a place where you are forcibly taken by the police to be punished; no one goes to a court.” In contrast, many lawyers and judges colloquially define a court as “a temple of justice where rights are protected”.
These sharply divergent visions mean that justice for one section is often injustice for another. Protecting the livelihood of traditional taxi and auto drivers from predatory pricing by corporate app-based taxi providers by imaginatively using the available tools of law to delay their incursion would be seen by the rich and by sections of the middle class as a failure of the judicial system, and possibly as also resulting in a downgrading of the “ease of doing business” measure. However, the masses would see such a judicial intervention as strong evidence of a good justice system. Although the conflict over competing visions of the nation and conflicting demands from social and economic segments have confined judicial reform of judicial administration mainly to “neutral” areas such as process reform, procedural law, technology, planning and court and case management, judge strength, and the workload of judges, there has been considerable improvement in these areas, and the judicial system has improved its performance.
[Extracted, with edits, from “Justice and the Two Ideas of India”, by G. Mohan Gopal, Frontline] - Everything she wanted was here, at Carignano, in Kasauli. Here, on the ridge of the mountain, in this quiet house. It was the place, and the time of life, that she had wanted and prepared for all her life-as she realized on the first day at Carignano, with a great, cool flowering of relief - and at last she had it. She wanted no one and nothing else. Whatever else came, or happened here, would be an unwelcome intrusion and distraction. This she tried to convey to the plodding postman with a cold and piercing stare from the height of the ridge onto his honest bull back. Unfortunately, he did not look up at her on the hilltop but stared stolidly down at the dust piling onto his shoes as he plodded on. A bullock-man, an oafish ox, she thought bitterly. She stepped backwards into the garden and the wind suddenly billowed up and threw the pine branches about as though to curtain her. She was grey, tall and thin and her silk sari made a sweeping, shivering sound and she fancied she could merge with the pine trees and be mistaken for one. To be a tree, no more and no less, was all she was prepared to undertake.
What pleased and satisfied her so, here at Carignano, was its barrenness. This was the chief virtue of all Kasauli of course-its starkness. It had rocks, it had pines, it had light and air. In every direction there was a sweeping view - to the north, of the mountains, to the south, of the plains. Occasionally an eagle swam through this clear unobstructed mass of light and air, that was all. And Carignano, her home on the ridge, had no more than that. Why should it? The sun shone on its white walls. Its windows were open the ones facing north opened on to the blue waves of the Himalayas flowing out and up to the line of ice and snow sketched upon the sky, while those that faced south looked down the plunging cliff to the plain stretching out, flat and sere to the blurred horizon.
Yes, there were some apricot trees close to the house. There were clumps of iris that had finished blooming. There was the kitchen with a wing of smoke lifting out of its chimney and a stack of wood outside its door. But these were incidental, almost unimportant.
[Extracted, with edits and revisions, from “Fire on the Mountain” by Anita Desai] - English literature is a vast and diverse field that has left an indelible mark on the world of letters. From the eloquent plays of William Shakespeare to the complex novels of Jane Austen and the profound poetry of William Wordsworth, English literature offers a window into the human experience. One of the luminaries of English literature is William Shakespeare, often hailed as the greatest playwright in the history of English language. His works, including Hamlet, Macbeth, and Romeo and Juliet, are celebrated for their exploration of human nature, love, ambition, and tragedy. His characters, such as the tormented Hamlet and the star-crossed lovers Romeo and Juliet, continue to captivate readers and audiences worldwide.
The 19th century ushered in a new era of literary giants. Jane Austen’s novels, such as Pride and Prejudice and Sense and Sensibility, provide incisive social commentary through the lens of wit and romance. Austen’s heroines, like Elizabeth Bennet and Elinor Dashwood, remain beloved literary figures known for their intelligence and resilience. The Romantic era brought forth poets like William Wordsworth and Samuel Taylor Coleridge, who celebrated * 8 UG the beauty of nature and the emotional intensity of the individual. Wordsworth’s ‘‘I Wandered Lonely as a Cloud’’ and Coleridge’s ‘‘The Rime of the Ancient Mariner’’ are testament to the power of the written words to evoke profound emotions and imagery. Moving towards 20th century, English literature continued to evolve. Virginia Woolf’s ground-breaking novel Mrs. Dalloway explored the inner thoughts and lives of its characters with a modernist narrative style. Dystopian visions, as seen in George Orwell’s Nineteen Eighty-Four provided stark warnings about the dangers of totalitarianism and the erosion of individual freedom.
Today, English literature is a global phenomenon, transcending borders and languages. Indian authors like Arundhati Roy, with her novel The God of Small Things, have won prestigious international literary awards. The book not only explores intricate family dynamics but also delves into the broader socio-political landscape of India. In summary, English literature is a testament to the enduring power of storytelling and the written word. It encompasses an array of authors, themes, and styles that continue to captivate and inspire readers across the world. - On the evening of the 10th, General Dyer arrived at Amritsar, and the Deputy-Commissioner handed over the civil power to him. He issued a proclamation by word of mouth that no meetings should be held. Two days later, after there had been no sort of riot, nor murder, General Dyer heard that a meeting was to be held at the Jallianwala Bagh. He proceeded there with about fifty troops, half British, half Indian, and a certain number of Ghurkas, armed with their kukris. The Jallianwala Bagh is an open space, half a mile square, which has one entry wide enough for three persons. The troops got in and lined up on a mound of debris. The walls, seven feet high, and the surrounding houses enclosed the people. There were, too, three alleys through which the people might have been able to pass. Within thirty seconds of the troops getting in, General Dyer gave orders to fire, and the crowd of people, estimated at anything from 5,000 to 20,000, who were sitting on the ground peacefully listening to the mob oratory, were fired on. The result of the troops’ fire into the mass of people we do not know. But we do know that Dyer’s own estimate of the casualties resulting from ten minutes continual individual firing, was 400 to 500 killed and 1,500 wounded. The people were not able to escape. They were people who had not offered any violence and who had not been warned. These people were shot down. After ten minutes, the ammunition was exhausted and the troops marched off, and they left 1,500 wounded there. There were men lying there for two days, dying of thirst, eating the ground, bleeding to death and nobody to look after them. Those who lived nearby came and carried away some of the wounded from the heap of dead and dying, but the unfortunate country people died there miserably of their wounds. This is what is done in 1919 in British India…
Centuries hence you will find Indian children brought up to this spot, just as they visit now the Cawnpore Well, and you can imagine the feelings of these Indians for generations over this terrible business.
[Col. Wedgwood, MP, speaking in the British Parliament, 22 December 1919]
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