ASVAB Paragraph Comprehension Practice Test 674730

Questions 5

Study Guide

Paragraph 1
The title Grandmaster is awarded to chess players by the world chess organization FIDE. Apart from World Champion, Grandmaster is the highest title a chess player can attain. Once achieved, the title is held for life.
Paragraph 2
Six years ago, lawyer-banker-scholar Charles Morris wrote a prophetic book - 'Two-Trillion-Dollar Meltdown: Easy Money, High-Rollers and the Great Credit Crunch' - that foresaw the 2008 Great Recession before it clobbered America and the world. Now Morris has reversed course and sees good times ahead. His forthcoming book, 'Comeback,' predicts that surging U.S. energy independence will bring a buoyant rise in American manufacturing and jobs.
Paragraph 3
Speed skating is a competitive form of ice skating in which the competitors race each other in traveling a certain distance on skates. Types of speed skating are long track speed skating, short track speed skating, and marathon speed skating. Short track speed skating takes place on a smaller rink, normally the size of an ice hockey rink. Distances are shorter than in long track racing, with the longest Olympic race being 3000 meters. Races are usually held as knockouts, with the best two in heats of four or five qualifying for the final race, where medals are awarded. Disqualifications and falls are not uncommon. The sport originates from pack-style events held in North America and was officially sanctioned in the 1970s, becoming an Olympic sport in 1992. Although this form of speed skating is newer, it is growing faster than long track speed skating, largely because short track can be done on an ice hockey rink rather than a long-track oval.
Paragraph 4
A utility cooperative is a type of cooperative that is tasked with the delivery of a public utility such as electricity, water or telecommunications to its members. Profits are either reinvested for infrastructure or distributed to members in the form of "patronage" or "capital credits", which are essentially dividends paid on a member's investment into the cooperative. Each customer is a member and owner of the business with an equal say as every other member of the cooperative, unlike investor-owned utilities where the amount of say is governed by the number of shares held.
Paragraph 5
On Monday, after a long quarter-century, West Virginians said goodbye to their state's 6 percent food tax. Now to see what, if any, business we've been missing. In 1989, retailers warned that sales in West Virginia would go down if legislators imposed a 6 percent tax on food. "Whatever they put on would be passed on to the consumer," Charles Forth, who owned supermarkets in both West Virginia and Ohio, told the newspaper in February 1989. "Six percent is $6 on $100. That will make a difference when people are already hurting and trying to make ends meet." It's a lot easier to drive customers away than to win them back, a fact legislators should bear in mind when it comes to taxation.