Question

Which person’s name has been replaced with ``[1]'' in the passage above?

• A. Mike Novogratz
• B. Brian Armstrong
• C. Changpeng Zhao \
• D. Sam Bankman-Fried
• A. BlackRock Advisors
• B. Alameda Research
• C. AQR Capital Management
• D. Man Group
• A. Elizabeth Holmes
• B. Eren Ozmen
• C. Fan Hongwei
• D. Diane Hendricks
• A. Digi Suvidha
• B. Virtual Wallet
• C. Central Bank Digital Currency
• D. Cyber Rupee
• A. Cryptography
• B. Blockchain
• C. Spectrography
• D. Both (A) and (B)
• A. National Institute of Financial Management
• B. Security Printing and Minting Corporation of India Ltd.
• C. India Infrastructure Finance Company Ltd.
• D. National Bank of Agricultural and Rural Development
• A. Harshad Mehta
• B. Ketan Parekh
• C. B. Ramalinga Raju
• D. Nirav Modi

Answer 1

The Correct Option is D

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.”
\[ \boxed{\text{(D) Sam Bankman-Fried}} \]

Answer 2

The passage describes a person who co-founded and was formerly CEO of FTX, once had an estimated wealth of $26 billion, studied physics at MIT, and is accused of transferring $10 billion in customer funds to his own hedge fund. Let's check which name fits all of these details together.

1. Mike Novogratz: Novogratz is a well known figure in crypto investing through his firm Galaxy Digital, but he was never CEO of FTX and has no connection to the $10 billion transfer described in the passage.
2. Brian Armstrong: Armstrong is the co-founder and CEO of Coinbase, a major cryptocurrency exchange, but a different one from FTX, and he is not linked to the events described here.
3. Changpeng Zhao: Zhao, often known as CZ, founded and ran Binance, another large crypto exchange. He is a prominent figure in crypto news around the same period, but FTX was not his company.
4. Sam Bankman-Fried: Bankman-Fried co-founded FTX in 2019 and served as its CEO until its collapse. He studied physics at MIT before moving into trading and then crypto, was once estimated to be worth around $26 billion, and is the person accused of moving billions in customer funds to his own trading firm without properly disclosing it.

Every specific detail in the passage, the MIT physics background, the FTX role, the $26 billion peak wealth, and the fund transfer, points to one person and not the other well known crypto executives listed.

Therefore, the correct answer is Sam Bankman-Fried.

Answer 3

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.
\[ \boxed{\text{(B) Alameda Research}} \]

Answer 4

The passage says that in 2017, the person referred to as [1] set up a hedge fund, later identified elsewhere as Sam Bankman-Fried, and that he transferred $10 billion in customer funds from FTX to this same fund. We need to identify which of the four firms this is.

1. BlackRock Advisors: BlackRock is one of the world's largest and oldest asset management firms, founded in 1988. It was not started by Bankman-Fried and has no link to FTX's collapse.
2. Alameda Research: Alameda Research is the trading firm Bankman-Fried founded in 2017, before he later launched FTX in 2019. Reporting on FTX's collapse repeatedly identifies Alameda as the fund that received the large, undisclosed transfer of customer money described in the passage.
3. AQR Capital Management: AQR is a long established quantitative investment firm founded in the late 1990s, unconnected to Bankman-Fried or FTX.
4. Man Group: Man Group is one of the world's oldest hedge fund managers, with roots going back over two centuries. It has no connection to the events described in the passage.

BlackRock, AQR, and Man Group are all established, unrelated asset managers, while Alameda Research is the specific fund founded by Bankman-Fried and tied directly to the customer fund transfer described in the passage.

Therefore, the correct answer is Alameda Research.

Answer 5

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.
\[ \boxed{\text{(A) Elizabeth Holmes}} \]

Answer 6

The question asks which entrepreneur was once called the world's youngest self-made female billionaire by Forbes and founded the blood-testing startup Theranos. Let's look at each name in turn.

1. Elizabeth Holmes: Holmes dropped out of Stanford to start Theranos, a company that claimed to run hundreds of tests from a few drops of blood. Forbes put her on its cover as the youngest self-made female billionaire before the company's technology was found to be fraudulent, and her fortune and title were later revoked. She is the founder Theranos is associated with.
2. Eren Ozmen: Ozmen is the majority owner and president of Sierra Nevada Corporation, an aerospace and defence company. She has no connection to Theranos or the healthcare-diagnostics space the question describes.
3. Fan Hongwei: Fan Hongwei chairs Hengli Group, a major Chinese petrochemical and textile conglomerate. Her business is industrial manufacturing, entirely unrelated to blood-testing technology.
4. Diane Hendricks: Hendricks co-founded and chairs ABC Supply, the largest wholesale distributor of roofing in the United States. Her wealth comes from building-materials distribution, not diagnostics or biotech.

Only one of these four women founded a diagnostics startup and briefly held the "youngest self-made female billionaire" title from Forbes: Elizabeth Holmes.

Therefore, the correct answer is Elizabeth Holmes.

Answer 7

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.
\[ \boxed{\text{(C) Central Bank Digital Currency}} \]

Answer 8

The question describes the RBI's "Digital Rupee – Wholesale Segment" and asks what category this belongs to. Let's examine each option.

1. Digi Suvidha: This is not a recognised RBI payments product or term used for the digital rupee pilot; it does not correspond to any official RBI scheme referenced in monetary policy or payments literature.
2. Virtual Wallet: A virtual wallet, such as a UPI or mobile-banking wallet, is simply a digital container that holds and moves ordinary bank deposits. It does not create new money; it moves existing commercial-bank money. The Digital Rupee is a new form of currency itself, not just a container for other money, so this option describes the wrong category.
3. Central Bank Digital Currency: A Central Bank Digital Currency (CBDC) is a digital form of a country's sovereign currency, issued directly by the central bank and carrying the same legal-tender status as physical cash. The RBI's Digital Rupee – Wholesale Segment, piloted for interbank settlement of government securities, is exactly this: central-bank-issued digital money, not a bank deposit or a wallet balance.
4. Cyber Rupee: This is not an official RBI term. It is a made-up label that does not appear in any RBI notification about the digital rupee pilots.

Since the Digital Rupee is money issued by the central bank itself rather than a private wallet or an invented term, it falls under the recognised global category of Central Bank Digital Currency.

Therefore, the correct answer is Central Bank Digital Currency.

Answer 9

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.
\[ \boxed{\text{(D) Both (A) and (B)}} \]

Answer 10

The question asks which technologies cryptocurrency depends on. Let's assess each option.

1. Cryptography: Cryptocurrencies rely on cryptographic techniques such as public-private key pairs, digital signatures and hash functions to secure transactions and prove ownership of coins. This is a genuine building block of how cryptocurrencies work, so it cannot be excluded on its own.
2. Blockchain: Blockchain is the distributed, append-only ledger that records every transaction across a network of computers and lets the network reach consensus on which transactions are valid, without a central authority. This too is a core technology that cryptocurrencies are built on, so it also cannot be excluded on its own.
3. Spectrography: Spectrography is a scientific technique used to analyse the composition of light or materials, applied in fields like chemistry and astronomy. It plays no role in how a cryptocurrency network verifies transactions or secures ownership, so this option is irrelevant to the question.
4. Both (A) and (B): Since cryptography secures the transactions and ownership while blockchain provides the shared ledger and consensus mechanism, a working cryptocurrency needs both of these technologies together, neither one alone is sufficient.

Because options (A) and (B) are each genuinely necessary and (C) is unrelated, the combination of cryptography and blockchain together is what cryptocurrency relies on.

Therefore, the correct answer is Both (A) and (B).

Answer 11

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.
\[ \boxed{\text{(B) SPMCIL}} \]

Answer 12

The question asks for the Government of India-owned corporation that mints legal-tender coins. Let's look at each option.

1. National Institute of Financial Management: NIFM is a training and research institute under the Ministry of Finance that builds capacity in financial management for government officers. It does not manufacture currency or coins.
2. Security Printing and Minting Corporation of India Ltd.: SPMCIL is a wholly government-owned company under the Ministry of Finance that operates India's currency-note presses and the mints at Mumbai, Kolkata, Hyderabad and Noida, producing coins, banknotes, non-judicial stamps and other security documents. Minting legal-tender coins is precisely its mandate.
3. India Infrastructure Finance Company Ltd.: IIFCL is a government-owned company that provides long-term financing for infrastructure projects such as roads and power plants. It has nothing to do with producing currency.
4. National Bank of Agricultural and Rural Development: NABARD is the apex bank for refinancing agricultural and rural development credit. It regulates and finances rural banking, but it does not mint coins.

Only SPMCIL is actually in the business of manufacturing coins and currency on behalf of the government.

Therefore, the correct answer is Security Printing and Minting Corporation of India Ltd.

Answer 13

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.
\[ \boxed{\text{(C) B. Ramalinga Raju}} \]

Answer 14

The question asks who founded Satyam Computer Services and was later jailed for a corporate governance scam. Let's consider each name.

1. Harshad Mehta: Mehta was a stockbroker at the centre of the 1992 Indian securities scam, which involved manipulating bank receipts to pump up stock prices. He had no connection to Satyam, an IT services company, so this option does not fit.
2. Ketan Parekh: Parekh was a stockbroker convicted for a 2001 stock-market manipulation scheme involving circular trading in a set of "K-10" shares. Like Mehta, his scam was in the securities market, not in an IT company he founded.
3. B. Ramalinga Raju: Raju founded Satyam Computer Services and served as its chairman. In 2009 he admitted to inflating the company's revenues, profits and cash balances for years, one of India's largest corporate accounting frauds, and was subsequently convicted and jailed. This matches the question exactly.
4. Nirav Modi: Modi is a diamond jeweller accused of defrauding Punjab National Bank using fraudulent letters of undertaking. His fraud involved a bank, not a company he founded and ran into an accounting scandal like Satyam.

Of the four, only B. Ramalinga Raju was both the founder of Satyam and the person convicted for the accounting fraud described in the question.

Therefore, the correct answer is B. Ramalinga Raju.