Refer to CBSE Class 11 Business Studies Business Services MCQs Set C provided below available for download in Pdf. The MCQ Questions for Class 11 Business Studies with answers are aligned as per the latest syllabus and exam pattern suggested by CBSE, NCERT and KVS. Chapter 4 Business Services Class 11 MCQ are an important part of exams for Class 11 Business Studies and if practiced properly can help you to improve your understanding and get higher marks. Refer to more Chapter-wise MCQs for CBSE Class 11 Business Studies and also download more latest study material for all subjects
MCQ for Class 11 Business Studies Chapter 4 Business Services
Class 11 Business Studies students should refer to the following multiple-choice questions with answers for Chapter 4 Business Services in Class 11.
Chapter 4 Business Services MCQ Questions Class 11 Business Studies with Answers
Question. Insurance is a contract between _________ and ________
(a) Insurer, insured
(b) Agent, insurance
(c) Insured, insurance
(d) Insurer, family
Answer: A
Question. The study of communication through touch is ________
(a) Chronemics
(b) Haptics
(c) Proxemics
(d) Semantics
Answer: B
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. ________ banks are included in the second schedule of RBI.
(a) Scheduled
(b) State
(c) Commercial
(d) Corporation
Answer: A
Question. Which of the following is not a function of General Insurance?
(a) Risk sharing
(b) Assist in capital formation
(c) Cattle insurance
(d) None of the options
Answer: C
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. Which of the elements is not a part of the communication process?
(a) Decoding
(b) Communication
(c) Channel
(d) Receiver.
Answer: B
Question. The validity period of a demand draft is
(a) One month
(b) Two Months
(c) Three months
(d) Six Months
Answer: C
Question. Policy taken by individuals for their children’s marriage or education expenses are:
(a) Children’ endowment policy
(b) Whole life policy
(c) Endowment life assurance policy
(d) Annuity policy
Answer: A
Question. The functions of a commerce include
(a) acceptance of deposits
(b) granting of loans
(c) Locker facility
(d) all of the options
Answer: D
Question. Which of the following bank acts as a government banker?
(a) Specialized Bank
(b) Cooperative bank
(c) Central bank
(d) Commercial bank
Answer: C
Question. Proximate cause means :
(a) Natural causes.
(B) Human causes
(c) Economic causes
(d) Losses which are caused by perils stated in the policy.
Answer: D
Question. In which year Insurance Act was amended in India?
(a) 1940
(b) 1928
(c) 1938
(d) 1945
Answer: C
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. In which year Crop Insurance scheme was introduced in India?
(a) 1978-79
(b) 1985-86
(c) 1948-49
(d) 1990-91
Answer: B
Question. Time utility is created by
(a) Transportation
(b) Banking
(c) Warehousing
(d) Communication
Answer: A
Question. From the following which of this is covered under marine Insurance?
(a) Whole Life policy
(b) Liability Insurance
(c) Endowment policy
(d) Act only
Answer: B
Question. In which year Children’s Money Back plan was introduced?
(a) 1985
(b) 1988
(c) 1995
(d) 1989
Answer: C
Question. This category of the cheque is to be deposited only in the payee’s account.
(a) Crossed Cheque
(b) Bearer Cheque
(c) Both Crossed Cheque and Bearer Cheque
(d) None of the options
Answer: A
Question.__________services are helpful to the business for establishing links with the outside world:
(a) Warehousing
(b) Banking
(c) Insurance
(d) Communication
Answer: D
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. In which year Crop Insurance scheme was introduced in India?
(a) 1978-79
(b) 1985-86
(c) 1948-49
(d) 1990-91
Answer: B
Question. Baking and insurance comes under________type of service:
(a) Business
(b) Social
(c) Personal
(d) None of the options
Answer: A
Question. Common function of a bank is:
(a) To accept deposits
(b) To lend money
(c) Earning profit
(d) All of the options
Answer: D
Question. The person who insures the risk is:
(a) Assured.
(B) Insured.
(c) Underwriter.
(d) Party
Answer: C
Question. Which of the following has the largest number of branches across India?
(a) Postal offices
(b) Banks
(c) SBI
(d) Insurance companies
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. If a person has insured for Rs 4, 00,000. A fire broke out and the actual amount of loss amounted to Rs 2, 50,000. How much amount can he claim:
(a) 4,00,000.
(B) 2,00,000
(c) 2,50,000
(d) None of the options
Answer: C
Question. Two ways in which Electronic fund transfer can be done are:
(a) NEFT and PFT
(b) PFT and NFT
(c) NEFT and RTGS
(d) RTGS and NFT
Answer: C
Question. In case of double insurance, the insurers are to share the losses in proportion to the amount assured by each of them. Which principle of insurance is this?
(a) Proximate Cause
(b) Mitigation
(c) Contribution
(d) Subrogation
Answer: C
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. In which type of insurance, loss is not measurable.
(a) Life Insurance
(b) Fire Insurance
(c) Marine Insurance
(d) Burglary Insurance
Answer: A
Fill in the Blanks:
Question. Without insurable interest the contract of Life Insurance is ______________.
Answer: void
Question. John took a health insurance policy. At the time of taking policy, he was a smoker and he didn’t disclose this fact. He got cancer. Insurance company won’t pay anything as John didn’t reveal the important facts. John has violated the insurance principle of______________
Answer: utmost good faith
Question. Principle of indemnity is not applicable to ______________.
Answer: Life Insurance
Question. The principle of insurance that gives right to an insurer to stand in place of the insured after settlement is called ______________.
Answer: subrogation
Question. Written contract between the insured and the insurer is known as______________.
Answer: Policy
True / False:
Question. Crossed Cheques are to be deposited only in the payees account.
Answer: True
Question. Foreign exchange bank is a type of specialized bank.
Answer: True
Question. Load on branches of the banks can be reduced by e-banking .
Answer: True
Question. Buying and selling of shares and debentures on instructions is a service provided by Central Bank.
Answer: False
Question. Savings account deposits can be withdrawn to the extent of the balance at any time without any prior notice.
Answer: False
CBSE Class 11 Business Studies Social Responsibilities of Business and Business Ethics MCQs Set A |
CBSE Class 11 Business Studies Social Responsibility MCQs Set A |
CBSE Class 11 Business Studies Social Responsibility MCQs Set B |
MCQs for Chapter 4 Business Services Business Studies Class 11
Expert teachers of studiestoday have referred to NCERT book for Class 11 Business Studies to develop the Business Studies Class 11 MCQs. If you download MCQs with answers for the above chapter you will get higher and better marks in Class 11 test and exams in the current year as you will be able to have stronger understanding of all concepts. Daily Multiple Choice Questions practice of Business Studies will help students to have stronger understanding of all concepts and also make them expert on all critical topics. After solving the questions given in the MCQs which have been developed as per latest books also refer to the NCERT solutions for Class 11 Business Studies. We have also provided lot of MCQ questions for Class 11 Business Studies so that you can solve questions relating to all topics given in each chapter. After solving these you should also refer to Class 11 Business Studies MCQ Test for the same chapter.
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