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This post provides a complete evaluation + model essay + improvement roadmap for the aspirant’s attempt.

📝 Mock Meta Details

Parameter	Details
Test Name	SEBI Grade A – Essay Mock 11
Test ID	9477
Topic	Global Financial Crisis of 2008: Lessons Learned and Future Implications
Word Limit	250 words
Words Attempted	215

❓ Exact Question Asked

Write an essay on “Global Financial Crisis of 2008: Lessons Learned and Future Implications” in 250 words.

✍️ Aspirant’s Submitted Answer (Unchanged)

Global financial crisis of 2008 came in US due to financial institution like Lehman Brothers gave loan at high interest rate to companies and individual with low credit score.They kept lenders’ houses on mortgage.Moreover these financial institution took loans from other bank in return of these high interest loan agreement.it created a bubble and soon that bubble got burst.The banks which had given loan at such high interest were getting bankrupt so they tried recovering their money from insurance companies.This leads to collapse of banks and insurance firm in few days.To mitigate the situation Federal bank of US gave money to these banks otherwise these banks would colapse which ultimately leads to collapsing of US economy.After this crisis there were many reforms done in US financial system.Lending was given as per credit score and other regulatory framework.Fedral bank set penalties on bank giving loans to the companies having low credit score in the gread of high interest.Regular internal and external audits were made compulsory for banks.Due to this crisis many countries learnt that for financial stability of a country it is important that there is proper regulation and compliance to be made necessary for the banks,fintech and other insurance and financial institution.

🧮 Scorecard (Out of 30 Marks)

Parameter	Marks (6)	Justification
Content Depth & Relevance	3	Basic narrative but lacks global impact, reforms, lessons, and implications.
Structure & Organisation	3	Flow exists but lacks paragraphing and clear thematic division.
Critical Thinking	2	Mostly descriptive; no analysis or structured lessons.
Language & Expression	3	Understandable but grammar errors & run-on sentences.
Format & Word Limit	4	Within range, but tone and structure need improvement.

⭐ Total: 15/30

🌟 Strengths

Attempt covers the basic sequence of events.
Stays aligned with core theme.
Simple, easy-to-follow narration.
Mentions reforms and regulatory tightening.

🔧 Areas of Improvement (With Corrective Examples)

❌ Weak → “Global financial crisis of 2008 came in US due to financial institution…”
✅ Better → “The 2008 crisis originated in the US housing market due to excessive subprime lending and risky financial practices.”

❌ Weak → “It created a bubble and soon that bubble got burst.”
✅ Better → “This inflated a credit bubble that collapsed when borrowers began defaulting.”

❌ Weak → “They tried recovering money from insurance companies.”
✅ Better → “Banks sought insurance payouts through credit-default swaps, further straining the system.”

❌ Weak → “There were many reforms done.”
✅ Better → “Comprehensive reforms like the Dodd-Frank Act and Basel III improved oversight and capital standards.”

✍️ Line-by-Line Improvements (Rewritten)

“The crisis stemmed from reckless subprime lending and the mispricing of risk by major institutions.”
“Mortgage-backed securities spread vulnerabilities across global markets.”
“The failure of Lehman Brothers triggered widespread panic and credit market paralysis.”
“Central banks had to inject large-scale liquidity to prevent systemic collapse.”
“Regulatory reforms strengthened capital buffers and monitoring mechanisms.”
“The episode highlighted the need for robust oversight of banks, NBFCs, and shadow banking.”

🔍 Examiner’s Insight

Relevance: ✔
Depth: ❌ Missing global impact, reforms, lessons, way forward
Data/Examples: ❌ Not used
Clarity: Moderate
Tone: Needs more formal academic structure

📚 Golden Rules for This Topic

Start with context (Great Depression comparison).
Mention subprime mortgages + MBS + CDS.
Mention Dodd-Frank & Basel III.
Explain global contagion.
Conclude with future risks (fintech, crypto, shadow banking).

💬 Keyword Bank (Vocabulary Boost)

systemic risk, securitisation, liquidity crunch, capital adequacy, contagion effect, macroprudential norms, regulatory transparency, leverage cycle, shadow banking

⚡ 30-Second Revision Notes

Crisis = Subprime + risky derivatives + weak regulation
Impact = Global recession
Reforms = Dodd-Frank, Basel III
Lessons = transparency, prudence, global coordination
Future = fintech risks, crypto, non-bank vulnerabilities

🚫 Red-Flag Mistakes

Writing story-like flow
No mention of reforms
No global perspective
Weak conclusion
Grammar errors

🏆 Topper’s Structure

Context + hook
Causes
Impact
Reforms + key lessons
Future implications
Crisp conclusion

🧩 Template for Similar Essays

Intro → Background → Causes → Impact → Reforms → Lessons → Future → Conclusion

❓ Practice Question

“Discuss the role of global regulatory institutions such as IMF, BIS, and G20 in preventing future financial crises.”

📝 MODEL ESSAY (250 Words — New Version)

The Global Financial Crisis of 2008 was a historic economic downturn that exposed deep structural weaknesses in global finance. It originated in the United States when financial institutions aggressively issued subprime mortgages to borrowers with weak creditworthiness. These risky loans were repackaged into complex securities and sold across global markets, creating an illusion of stability. When housing prices declined and defaults surged, the value of these securities collapsed, leading to the failure of major institutions such as Lehman Brothers and triggering a worldwide credit freeze.

The crisis revealed serious gaps in regulatory oversight. Banks operated with excessive leverage, credit-rating agencies misjudged risks, and shadow banking expanded without adequate supervision. The result was widespread unemployment, shrinking GDP, massive bailouts, and a loss of public trust in financial systems. In response, countries adopted major reforms. The United States introduced the Dodd-Frank Act, while global regulators implemented Basel III norms to strengthen capital adequacy, liquidity standards, and stress-testing frameworks.

The key lessons are clear. Financial innovation must be matched with strong regulation, transparency, and accountability. Markets are deeply interconnected, making global coordination essential to prevent contagion. The crisis also highlighted the need for robust consumer protection and early-warning mechanisms to detect systemic risks.

Looking ahead, emerging vulnerabilities—such as fintech lending, cryptocurrency volatility, and large non-bank intermediaries—require proactive supervision. Strengthening regulatory capacity, improving data-sharing, and enhancing macroprudential policies will be crucial to maintaining financial stability in an increasingly complex world.

🎯 Key Learning Notes for Aspirants

Use data and reforms to show depth.
Add global context always for SEBI/RBI/NABARD.
Ensure each paragraph has a clear argument.
Avoid narration; focus on analysis.

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