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    Question

    In each of the questions below are given some statements followed by some Conclusions. You have to take the given statements to be true even, if they seem to be at variance from commonly known facts. Read all the conclusions and then decide which of the given conclusions logically follows from the given statements disregarding commonly known facts. 

    Statements:  Some designations are

    descriptions Some descriptions are securities No security is a position Conclusion: I. Only descriptions is designations II. No designation is a description
    A If only conclusion I follows. Correct Answer Incorrect Answer
    B If only conclusion II follows. Correct Answer Incorrect Answer
    C If either conclusion I or II follows. Correct Answer Incorrect Answer
    D If neither conclusion I nor II follows. Correct Answer Incorrect Answer
    E If both conclusions I and II follow. Correct Answer Incorrect Answer

    Solution

    Some designations are descriptions (I) → Conversion → Some descriptions are designations (I). Hence neither conclusion I nor II follow.

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