CBSE Class 11 Business Studies Types Of Business Services Worksheet

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Types Of Business Services Class 11 Business Studies Worksheet Pdf

Class 11 Business Studies students should refer to the following printable worksheet in Pdf for Types Of Business Services in standard 11. This test paper with questions and answers for Grade 11 Business Studies will be very useful for exams and help you to score good marks

Class 11 Business Studies Worksheet for Types Of Business Services

Mcq Questions for Ncert Class 11 Business Studies Business Services 


Question. This health insurance policy combines health insurance with investment. The insurer pays back a specified amount at the end of the period. Identify which policy is this?

(a) Individual mediclaim policy
(b) Family floater policy
(c) Unit linked health plans
(d) None of the above

Answer : C

Question. When the loss is the result of two or more causes, which of the following terms refers to the direct cause of which the loss is the natural consequence?
(a) Subrogation
(b) Proximate
(c) Mitigation
(d) Indemnity

Answer : B

Question. A countrywide system through which person can electronically transfer from one bank branch to another person having an account with the other bank  branch in the country is known as
(a) Pay order
(b) RTGS
(c) Bank draft
(d) NEFT

Answer : D

Question. ……… account is meant for people who wish to save a part of their income to safeguard the future and can interest on it.
(a) Current account
(b) Savings account
(c) Recurring account
(d) Multiple option account

Answer : B

Question. Kavya took a marine policy worth ₹ 2,00,000 to protect her goods from the perils of sea. On the way, the goods were spoiled by rats. She suffered a loss of ₹ 100,000. She filed a claim for loss against the insurance company.
Which principal of insurance is highlighted in the given case?
(a) Subrogation
(b) Mitigation
(c) Proximate cause
(d) Contribution

Answer : C

Question. Mobile banking refers to the process of carrying out banking transactions online.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : B

Question. Abhinav took a fire insurance policy for his property worth ₹ 5,00,000 with two insurers: ICICI Lombard General Insurance Co. Ltd. for ₹ 4,00,000 and  Bajaj Allianz General Insurance Co. Ltd. for ₹ 20,000.
An electric short circuit in his property caused fire and it resulted in a loss of ₹ 1,50,000.
He filed a claim for ₹ 100,000 against each of the two insurance companies. Which principle of insurnace has been highlighted in given case?
(a) Mitigation
(b) Proximate cause
(c) Contribution
(d) Indemnity

Answer : C

Question. Match the following.

Chapter 4 Business Services

Codes

      A   B   C 
(a) (i) (ii) (iii)
(b) (i) (iii) (ii)
(c) (iii) (i) (ii)
(d) (ii) (i) (iii)

Answer : C

Question. In case of fire insurance policy, the insurer is liable to compensate for the loss only when the proximate cause of loss is fire.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : A

Question. State which of the following statements is false?
(a) Recurring deposit account is a time deposit account
(b) Number of transactions every month is limited in saving bank account
(c) A current account can be opened with an initial deposit of₹ 5,000
(d) Fixed deposit account is demand deposit account

Answer : D

Question. Manav gets the information about the rate of interest on fixed deposit by a telephonic conversation with an officer of a bank. Name this type of banking.
(a) Internet banking
(b) e-banking
(c) Tele-banking
(d) None of these

Answer : C

Question. The minimum period of deposit in case of recurring deposit account is ……… and maximum is ……… .
(a) 12 months, 2 years
(b) 6 months, 10 years
(c) 4 months, 1 year
(d) 8 months, 3 years

Answer : B

Question. When a property is insured by more than one insurance (i.e. in case of multiple insurance), the insurers are to share losses in what proportion?
(a) Ratio of premiums received
(b) Ratio of duration of insurance
(c) Ratio of amount insured
(d) Equal ratio

Answer : C

Question. If the cargo does not reach its destination due to damage or destruction in the transit, the shipping company is not paid freight charges. To overcome  losses suffered by such circumstances, shipping companies opt for
(a) ship insurance
(b) hull insurance
(c) cargo insurance
(d) freight insurance

Answer : D

Question. ……. is a contract of insurance, in which an insurer enters into a contract with another insurer to insure the whole or a part of risk covered by the first insurer.
(a) Double insurance
(b) Hull insurance
(c) Reinsurance
(d) Burglary insurance

Answer : C

Question. It is a type of payment instrument in which money is loaded in advance to make purchases. Identify which type of digital payment method is described  above?
(a) Credit card
(b) Debit card
(c) Prepaid card
(d) None of these

Answer : C

Question. There are services which are experienced differently by different customers. These kind of services depend upon customers preferences and demands and are known as
(a) Personal services
(b) Social services
(c) Business services
(d) Financial services

Answer : A

Question. ‘‘It is another type of digital payment method, in which ‘*99#’ can be used to carry out mobile transactions.’’ Which type of digital payment is described above?
(a) Unified Payment Interface (UPI)
(b) Unstructured Supplementary Service Data (USSD)
(c) Aadhaar Enabled Payment System (AEPS)
(d) None of the above

Answer : B

Question. Nitesh insured his factory for ₹ 5,00,000 against fire. Due to fire in his factory, he suffered a loss of stock worth ₹ 3,00,000. He is of the opinion that he  can recover the entire policy amount of ₹ 5,00,000 from the insurance company. Identify the relevant insurance principle in this regard.
(a) Subrogation
(b) Mitigation
(c) Indemnity
(d) None of these

Answer : C

Question. Joint life policy is taken up by a person for his/her children to meet the expenses of their education or marriage.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : B

Question. Mr. Virat, a businessmen, has a current account in SBI, his current account shows balance of just ₹ 40,000, while he urgently needs ₹ 2,50,000 to pay off one of his creditors.
He approaches SBI to allow him to withdraw ₹ 2,50,000, using the facility extended by the bank to him due to his creditworthiness. The bank agrees to it. Identify the facility which has been provided by SBI to Virat.
(a) Borrowing
(b) Bank overdraft
(c) Banker’s cheque
(d) None of these

Answer : B

Question. Match the following.

Chapter 4 Business Services_3

Codes
       A    B    C    D 
(a) (ii)  (iii) (iv)  (i)
(b) (iii)  (i)  (ii)  (iv)
(c) (iv)  (i)  (iii)  (iv)
(d) (i)   (ii)  (iv)  (iii)

Answer : A

Question. Anuj has taken a loan from Avi against the security of his factory. Can Avi take a fire insurance policy of that factory?
(a) No
(b) Yes
(c) Can’t say
(d) None of the above

Answer : A

Question. A electronic fund transfer system under which transfer of funds take place from one branch of bank to another branch on real time and on grow basis is know as
(a) NEFT
(b) EFT
(c) RTGS
(d) ATM

Answer : C

Question. In recurring deposit account, the depositor enjoys the liquidity of saving account and interest rate of fixed deposit account.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : B

Question. A cheque which is deposited only to the payee’s bank account is known as ……… .
(a) Bearers cheque
(b) Demand draft
(c) Crossed cheque
(d) None of these

Answer : C

Question. ‘‘The insured must have an interest in the subject matter of insurance’’.
Which principle of insurance is related to this statement?
(a) Principle of mitigation
(b) Principle of insurable interest
(c) Principle of proximate cause
(d) None of the above

Answer : B

Question. Which of the following is not a function of insurance?
(a) Risk sharing
(b) Assist in capital formation
(c) Lending of funds
(d) None of the above

Answer : C

Question. …… is a temporary arrangement under which a dpositor is allowed to draw by cheque more than the amount available to his credit upto a specified limit.
(a) Cash credit
(b) Term loan
(c) Bank overdraft
(d) Consumer credit

Answer : C

Question. A contract by which the insurer, in consideration of a certain amount known as premium, undertakes to pay to a person or his heirs a certain amount of money on his death or on attaining a certain age is known as 
(a) General insurance
(b) Life insurance
(c) Special insurance
(d) Burglary insurance

Answer : B


CBSE Class 11 Business Studies - Types of Business Services

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 Banking

 Insurance

 Communication

 Warehousing

 Transportation

Banking means accepting deposits of money from the public(for the purpose of lending and investment),repayable on demand and withdrawable by cheque or otherwise.

Types of Banks:-

• Commercial Banks

• Co-operative Banks

• Specialised Banks

• Central Banks

(1) Commercial Banks: A commercial bank is an institution which accepts deposits of money from the public for the purpose of lending investment.Commercial banks are governed by Indian Banking Regulation Act,1949. Following are the types of commercial banks on the basis of owenership:

 Public Sector banks- They are owned,managed and controlled by the government. Their main emphasis is on social objectives rather than on profitability.E.g. the State Bank of India(SBI),Punjab National Bank(PNB),Canara Bank etc.

 Private Sector banks-They are owned,managed and controlled by private promoters,e.g. HDFC Bank,ICICI Bank, etc. They emphasise more on profitability.

 Foreign banks- They are owned and managed by foreign promoters e.g. CITI Bank,Standard Chartered Bank etc.

(2) Co-operative Banks: They provide cheap credit to their members. It is an important source of rural credit,like agricultural fincancing in India,Delhi Nagrik Sahakari Bank Ltd.

(3) Specialised Banks: These are foreign exchange banks,industrial banks,developed banks,export-import banks,etc. These provide financial aid to industries and foreign trade.e.g. IDBI,SIDBI etc.

(4) Central Bank:The Central Bank of a country is the apex institution and the monetary authority.

The Reserve Bank of India(RBI) is the Central Bank of our country. It issues currency and control money supply and credit in the country.It supervises,controls and regulated the activities of all the commercial banks. It also acts as a banker to the government.

Q1. Which institute is called a borrower as well as a lender?

Q2. Enumerate the two primary functions of commercial banks.

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Chapter 1 Business Trade and Commerce
CBSE Class 11 Business Studies Nature And Purpose Of Business Worksheet Set A
CBSE Class 11 Business Studies Nature And Purpose Of Business Worksheet Set B
Chapter 2 Forms of Business Organisation
CBSE Class 11 Business Studies Forms Of Business Organisation Worksheet
Chapter 3 Private Public and Global Enterprises
CBSE Class 11 Business Studies Private Public And Global Enterprises Worksheet Set A
CBSE Class 11 Business Studies Private Public And Global Enterprises Worksheet Set B
Chapter 4 Business Services
CBSE Class 11 Business Studies Business Services Worksheet
CBSE Class 11 Business Studies Types Of Business Services Worksheet
Chapter 5 Emerging Modes of Business
CBSE Class 11 Business Studies Emerging Modes Of Business Worksheet
Chapter 6 Social Responsibilities of Business and Business Ethics
CBSE Class 11 Business Studies Business And Business Ethics Worksheet
CBSE Class 11 Business Studies Social Responsibilities Worksheet Set A
CBSE Class 11 Business Studies Social Responsibilities Worksheet Set B
Chapter 7 Formation of a Company
CBSE Class 11 Business Studies Formation Of Company Worksheet
Chapter 8 Sources of Business Finance
CBSE Class 11 Business Studies Sources Of Business Finance Worksheet Set A
CBSE Class 11 Business Studies Sources Of Business Finance Worksheet Set B
Chapter 9 MSME and Business Entrepreneurship
CBSE Class 11 Business Studies Small Business Worksheet
Chapter 10 Internal Trade
CBSE Class 11 Business Studies Internal Trade Worksheet Set A
CBSE Class 11 Business Studies Internal Trade Worksheet Set B
CBSE Class 11 Business Studies Internal Trade Worksheet Set C
Chapter 11 International Business
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