CBSE Class 11 Business Studies Business Services MCQs Set 01

Question : Which of the following is not applicable in life insurance contracts
(a) Indemnity contract
(b) Unilateral contracts.
(c) Conditional Contracts.
(d) None of the options
Answer : A

Question : Overdraft Facility is available on
(a) Current deposit account.
(b) Recurring Deposits
(c) Saving Deposit Account.
(d) Fixed deposits.
Answer : A

Question : The largest commercial bank of India
(a) SBI
(b) RBI
(c) PNB
(d) ICICI
Answer : A

Question : You have to export a consignment of iron ore to France. Which mode of transport will you choose to send it?
(a) Air
(b) Sea
(c) Rail
(d) Road
Answer : A

Question : Life insurance is a contract of assurance because
(a) The sum assured will be certainly paid
(b) The policy will certainly mature
(c) Death will certainly occur
(d) The loss will definitely occurred
Answer : A

Question : DTH services are provided by
(a) Cellular companies
(b) Postal companies
(c) Transport companies
(d) Banks
Answer : A

Question : Which one of the following is NOT the form of e- banking services offered by e-banking?
(a) Cheque
(b) ATM
(c) Pos
(d) EFTS
Answer : A

Question : IndusInd Bank comes under which category of banks?
(a) Private Sector Banks
(b) Public Sector Banks
(c) Cooperative Banks
(d) None of the options
Answer : A

Question : RTGS is a fund transfer system from one bank to another
(a) Transactions are settled immediately
(b) On a real time basis
(c) On gross basis
(d) None of the options
Answer : A

Question : Which of the following is the subject matter of Marine Insurance?
(a) All the above
(b) Freight
(c) Hull
(d) Cargo
Answer : A

Question : Which of the following is not covered under the principle of indemnity?
(a) Life Insurance
(b) Fire Insurance
(c) Marine Insurance
(d) Theft Insurance
Answer : A

Question : A person gets his house (worth RS. 12,00,000) insured from three insurance companies, i.e., A: Rs. 2,00,000, B: Rs. 4,00,000, C: Rs. 6,00,000. At the time of incurrence of loss, the compensation will be paid by insurance companies in the ratio of 1: 2: 3. Identify the principle being referred here.
(a) Principle of Contribution
(b) Principle of Mitigation of loss
(c) Principle of Proximate Cause
(d) Principle of Mitigation of loss
Answer : A

Question : A person gets his stock worth Rs. 50,000 insured for Rs. 70,000. A fire occurs and the whole stock gets damaged. The Insurance Company admits a claim of Rs. 50,000 only and not Rs. 70,000. Identify the principle of insurance being applied?
(a) Principle of Indemnity
(b) Principle of Insurable Interest
(c) Principle of Subrogation
(d) Principle of Contribution
Answer : A

Question : In case of Life Insurance, at what time does the insurable interest needs to be present?
(a) Taking Insurance policy
(b) Taking Insurance policy and Claiming for loss incurred
(c) Claiming for loss incurred
(d) None of the options
Answer : A

Question : The largest commercial bank of India
(a) SBI
(b) RBI
(c) PNB
(d) ICICI
Answer : A

Question : Which of the following element is present in the case of Life Insurance?
(a) Security, Investment
(b) Security
(c) Investment
(d) Profit
Answer : A

Question : The fee charged by the insurer on account of providing services is called
(a) Premium
(b) Profit
(c) Dividend
(d) Instalment
Answer : A

Question : It is a type of saving bank account in which excess of a particular limit gets automatically transferred to fixed deposit account.
(a) Multiple deposit option account
(b) Current account
(c) Recurring deposit account
(d) Salary account
Answer : A

Question : Which principle of insurance states that the insured must take reasonable steps to minimize the loss or damage to the insured property?
(a) Principle of Mitigation of loss
(b) Principle of Proximate Cause
(c) Principle of Indemnity
(d) Principle of Contribution
Answer : A

Question : It refers to the pecuniary interest in the subject matter of the contract of insurance. Identify the concept.
(a) Insurable Interest
(b) Mitigation of loss
(c) Subrogation
(d) Indemnity
Answer : A

Question : Bankers cheque is also known as
(a) Pay order
(b) Bank draft
(c) Demand draft
(d) Bearer cheque
Answer : A

Question : This category of cheque is to be deposited only in the payees account.
(a) Crossed Cheque
(b) Bearer Cheque
(c) Both Crossed Cheque and Bearer Cheque
(d) None of the options
Answer : A

Question : Its main function is to control and coordinate currency and credit policies of our country. Identify the institution mentioned here.
(a) The Reserve Bank of India
(b) The State Bank of India
(c) The Central Bank
(d) The Bank of India
Answer : A

Question : Which of the following does not come under E-banking?
(a) Overdraft
(b) Debit Card
(c) Electronic Fund Transfer
(d) Automatic Teller Machine
Answer : A

Question : Which one of the following is NOT the form of e- banking services offered by e-banking?
(a) Cheque
(b) ATM
(c) Pos
(d) EFTS
Answer : A

Question : Which bank is known as Apex Bank of India?
(a) The Reserve Bank of India
(b) The State Bank of India
(c) The Central Bank
(d) The Bank of India
Answer : A

Question : IndusInd Bank comes under which category of banks?
(a) Private Sector Banks
(b) Public Sector Banks
(c) Cooperative Banks
(d) None of the options
Answer : A

Question : Which of the following has largest number of branches across India?
(a) Postal offices
(b) Banks
(c) SBI
(d) Insurance companies
Answer : A

Question : A doctor can operate only on the condition that the patient is ready to take his service. Identify the feature of services mentioned here.
(a) Inseparability
(b) Intangibility
(c) Inconsistency
(d) Inventory (less)
Answer : A

Question : In services activities of producers and consumption takes place simultaneously. Which characteristic of service does this statement signify?
(a) Inseparability
(b) Intangibility
(c) Inventory (less)
(d) Inconsistency
Answer : A

Question :  _____ arrangement by which a bank allows its customer to borrow money up to the specified limit.
(a) Cash Credits
(b) Pass Book
(c) Cash Book
(d) Account Payee
Answer : A

Question : A person gets his stock worth Rs. 50,000 insured for Rs. 70,000. A fire occurs and the whole stock gets damaged. The Insurance Company admits a claim of Rs. 50,000 only and not Rs. 70,000. Identify the principle of insurance being applied?
(a) Principle of Indemnity
(b) Principle of Insurable Interest
(c) Principle of Subrogation
(d) Principle of Contribution
Answer : A 

Question : Which of the following is not applicable in life insurance contracts?
(a) Indemnity contract
(b) Unilateral contracts
(c) Conditional Contracts
(d) None of the above
Answer : A

Question : It is a type of saving bank account in which excess of a particular limit gets automatically transferred to a fixed deposit account.
(a) Multiple deposit option account
(b) Current account
(c) Recurring deposit account
(d) Salary account
Answer : A

Question : Bankers are not only dealers of money but also leaders in
(a) Industry development
(b) Service development
(c) Trade development
(d) Economic development
Answer : D

Question : From the following which of these is covered under Marine Insurance?
(a) Whole Life policy
(b) Liability Insurance
(c) Endowment policy
(d) Act only
Answer : B
 
Question : Which of the following is covered under the life Assurance policy?
(a) Money Back Policy
(b) Declaration policy
(c) Act only
(d) Cargo Insurance
Answer : A

Question : Which bank is known as Apex Bank of India?
(a) The Reserve Bank of India
(b) The State Bank of India
(c) The Central Bank
(d) The Bank of India
Answer : A

Question : Its main function is to control and coordinate the currency and credit policies of our country. Identify the institution mentioned here.
(a) The Reserve Bank of India
(b) The State Bank of India
(c) The Central Bank
(d) The Bank of India
Answer : A

Question : Which of the following contained one of the earliest applications of insurance principles?
(a) Napoleonic Code
(b) Magna Carta
(c) Code of Hammurabi
(d) Charter of London
Answer : C
 

Question :  The addition of the words___________ directs the banker to collect the cheque and credit the proceeds to the payee’s account.
(a) Manager
(b) Account payee
(c) Customers
(d) Bank
Answer : B

Question : Overdraft Facility is available on
(a) Current deposit account
(b) Recurring Deposits
(c) Saving Deposit Account
(d) Fixed deposits
Answer : A