DEFINE COMPREHENSION   

This article on Define Comprehension is a practice set on comprehension passages.

ASSIGNMENT 1

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

Read the given passage and answer the following questions based on the passage: 

PARAGRAPH 1 OF DEFINE COMPREHENSION

Though RERA (Real Estate Regulation and Development Act) provides a dispute redressal mechanism for aggrieved parties through the courts, it offers a compromise solution too. They needn’t go to court if both parties are able to come to a mutual agreement.

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

The Maharashtra RERA has been appreciated for its swift handling of home-buyer complaints and is also the first to establish a conciliation forum under the Act.

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

A conciliation forum acts as a mediator between the aggrieved parties, bringing them to the negotiating table for an out-of-court settlement. Under this forum, the aggrieved parties can get their grievances solved before filing a complaint with the RERA authority.

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

The forum usually comprises members of resident associations, RERA authorities, developers’ associations, and a member from respective development or industry authority. These members would change according to regions. 

PARAGRAPH 3 DEFINE COMPREHENSION

The conciliators will facilitate the resolution of disputes between the parties without the involvement of lawyers. If a settlement is reached, a consent agreement is drawn and signed by both parties. Otherwise, the conciliation process is terminated and the complaint is at liberty to pursue the case through RERA or before any other court.

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

It would also be taken note of by the authorities when they pass a judgment. Your complaints can include delay in project delivery, changes in construction plans, additional charges, or lack of facilities promised, including parking space, storage space, or elevator.

Answer the following questions on Define Comprehension:

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

Q1. As per the passage, what is/are the function(s) of the conciliators? 

A)To help the aggrieved parties pursue the case through RERA

B)To facilitate a resolution of the dispute between the parties without the involvement of lawyers

C)To help an aggrieved home buyer lodge a complaint against any RERA –registered developer or real estate agent

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

1)Only (A) and (B)     

2)Only (B) and (C)    

3)Only (A) and (C)     

4)All (A), (B), (C)

5)Only (A)

QUESTION 2 ON DEFINE COMPREHENSION

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

Q2. What does the Real Estate Regulation and Development Act do?                                   

A)It offers a compromise solution to aggrieved parties.                                                     

B)It provides a dispute redressal mechanism for aggrieved parties through the courts.

C)It allows the establishment of a conciliation forum.

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

1)Only (A) and (B)    

2)Only (A) and (C) 

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

3)Only (B) and (C)    

4)All (A), (B), (C)    

5)Only (B)

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

Q3. A conciliation forum more often than not comprises which of the following?

A)Members of resident associations                                                                       

B)Developers’ associations and a member from respective development or industry authority

C)RERA authorities

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

1)Only (A), (B), (C)    

2)Only (A) and (B)  

WILL CONCILIATORS FACILITATE THE RESOLUTION OF DISPUTES BETWEEN PARTIES?

3)Only (B) and (C)     

4)Only (A) and (C)

5)Only (C)

ASSIGNMENT 2 ON DEFINE COMPREHENSION:  

Read the given passage and answer the following questions based on the passage:

PARAGRAPH 1

The advanced industrial economies of the West in the first half of the last century underwent a major structural transition which is now taken for granted. This was the transformation of most founders’ family-run large enterprises into board-run professionally managed companies. In the first few decades of the twentieth century, family enterprises were the norm in these countries. Some of these firms, such as Ford and Siemens, still carry the names of their founders.

PARAGRAPH 2

The history of this transition is complex and country-specific. In the US, the prolonged Great Depression of 1929 led to a large number of bankruptcies and quite a few suicides. Out of the turmoil emerged the professionally managed companies. In Germany, defeat in war, occupation, and reconstruction afterward led to the pre-war national companies becoming government-supported professionally managed companies. In his 1967 bestseller, The New Industrial State, economist John Kenneth Galbraith describes the phenomenon of the rise of transnational corporations and how power was shifting them from nation-states and from traditional elites to the new managerial elite.

PARAGRAPH 3 ON DEFINE COMPREHENSION

The US went on to develop its obsession with iconic larger-than-life CEOs such as Lee Iacocca of Chrysler and Jack Welch of GE. They became the successors of legendary owner entrepreneurs like Rockefeller and Carnegie of the earlier era. Large corporations are essentially business empires. The age of young daring military leaders with sound judgment, intuition, and luck creating physical empires has gone. Now entrepreneurs with similar traits create business empires through history depending on the ability of the succeeding generations.

Answer the questions that follow on Define Comprehension :

QUESTION 4

4. As per the passage, which of the following can be inferred about the firms such as Ford and Siemens?

A.These firms still carry the names of their founder.

B.These firms are founders’ family-run large enterprises.

C.These firms have now lost their luster because of neglect by the government.

1)Only (A) and (B)    

2)Only (B) and (C)    

3)Only (A) and (C)    

4)All (A), (B), (C)    

5)Only (A)

QUESTION 5

5. What was/were the impact(s) of the prolonged Great Depression of 1929 in the US?

A. A large number of people turned bankrupt and a few of them committed suicide.

B. Many companies started to be managed by professionals.

C. The government started leveraging professionally managed companies.

1)Only (A) and (B)    

2)Only (B) and (C)    

3)Only (A) and (C)    

4)All (A), (B), (C)    

5)Only (B)

QUESTION 6 ON DEFINE COMPREHENSION

6. What is the synonym of the word ‘intuition’ as used in the passage?

A. knowledge

B. clairvoyance 

C. reason

D. reasoning

E.None of these

ANSWERS:

ASSIGNMENT 1 –

1. Only (B) and (C)

2. All (A), (B), (C)

3. All (A), (B), (C)

ASSIGNMENT 2 –

4. Only (A)

5. Only (A) and (B)

6. clairvoyance