In the following question, some part of the given sentence may contain an error. Identify the part that has an error and select the appropriate option. If the sentence is free from error, select 'No error'. Sentence: In June 2017, an anodyne footnote to the Bank of Baroda's (BoB) quarter results mentioned a (1)/ fine levied by the South African Reserve Bank (SARB), (2)/ headquartered in Pretoria. (3)/ No error. (4)

Introduction / Context:
This question is from the common exam pattern of error spotting, where a single sentence is split into numbered parts. Your job is to locate the exact part that contains a grammatical or usage error. The sentence here talks about a footnote in June 2017 describing a fine levied by the South African Reserve Bank (SARB) on Bank of Baroda. The key test area is correct noun and adjective use in formal written English.

Given Data / Assumptions:

• We are given one complete sentence broken into parts (1), (2) and (3).
• Part (1): “In June 2017, an anodyne footnote to the Bank of Baroda's (BoB) quarter results mentioned a”.
• Part (2): “fine levied by the South African Reserve Bank (SARB),”.
• Part (3): “headquartered in Pretoria.”
• Part (4): “No error.” is the option if the whole sentence is correct.
• We must check each underlined part for grammar, word choice and natural usage in standard English.

Concept / Approach:
The main concept tested here is correct use of the noun quarter and the adjective quarterly in the context of financial results. In business English, companies publish quarterly results, not quarter results. We can also say the quarter's results. The phrase “Bank of Baroda's quarter results” in part (1) is therefore non standard. The rest of the sentence, describing a fine levied by the South African Reserve Bank, headquartered in Pretoria, is grammatically sound and idiomatic. So the error lies in part (1), in the phrase “quarter results”.

Step-by-Step Solution:
Check part (1): “Bank of Baroda's (BoB) quarter results”. In financial reporting, we say “quarterly results” or “results for the quarter”, not “quarter results”.Recognise that the intended meaning is “results for a particular quarter of the financial year”. The standard adjective is “quarterly”.Therefore, a correct version would be: “In June 2017, an anodyne footnote to Bank of Baroda's quarterly results mentioned a …”.Check part (2): “fine levied by the South African Reserve Bank (SARB),” – this is correct and natural usage.Check part (3): “headquartered in Pretoria.” – correctly placed past participle phrase modifying “the South African Reserve Bank (SARB)”.Since part (2) and part (3) are correct, the only error is in part (1), so the answer is option 1.

Verification / Alternative check:
If we rewrite the entire sentence correctly, it becomes: “In June 2017, an anodyne footnote to Bank of Baroda's (BoB) quarterly results mentioned a fine levied by the South African Reserve Bank (SARB), headquartered in Pretoria.” This is smooth and grammatically correct. Notice that we have not changed the meaning, only the form of the phrase “quarter results” to “quarterly results” or we could also say “results for the quarter”. Because the exam sentence intentionally keeps “quarter results” to create an error, option 4 (No error) cannot be correct.

Why Other Options Are Wrong:
Part (2) correctly uses “fine levied by the South African Reserve Bank (SARB)”. The preposition by with levied is standard. Part (3) correctly uses “headquartered in Pretoria” as a reduced relative clause describing SARB. There is no tense, agreement or preposition problem in parts (2) or (3). Hence options 2 and 3 are incorrect choices. Since an error clearly exists, option 4 (“No error”) is also wrong.

Common Pitfalls:
Many learners rush through long noun phrases and miss subtle but important collocation issues like quarter results versus quarterly results. In financial contexts, always remember that results are quarterly, annual, half yearly, etc. The noun quarter usually needs an apostrophe in this meaning (“the quarter's results”) or is embedded in a longer prepositional phrase (“results for the March quarter”). Noticing these standard patterns will help you accurately identify errors in similar exam questions.

Final Answer:
The error is in part 1 (“quarter results” should be “quarterly results” or “the quarter's results”).