Business Services MCQ with Answers ( Best 20+ MCQs )

Business Services MCQ with Answers

Students who are searching for NCERT MCQ Questions for Class 11 Business Studies Chapter 4 Business Services with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 Business Studies with Answers. You can also verify your answers from our provided Business Services Class 11 MCQs Questions with Answers. So, ace up your preparation with MCQ on Business Services Class 11 Objective Questions. Join Our Telegram Channel

Business Services MCQ with Answers

Business Services MCQ with Answers – Gk By Mr. DJ

Question  1.
_____ 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) Cash Credits

Question  2.
Insurance is a contract between _________ and ________
(a) Insurer, insured
(b) Agent, insurance
(c) Insured, insurance
(d) Insurer, family

Answer: (a) Insurer, insured

Question  3.
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) Principle of Indemnity

Question  4.
In which year Insurance Act was amended in India?
(a) 1940
(b) 1928
(c) 1938
(d) 1945

Answer: (c) 1938

Question  5.
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) Indemnity contract

Question  6.
In which year Children’s Money Back plan was introduced?
(a) 1985
(b) 1988
(c) 1995
(d) 1989

Answer: (c) 1995

Question  7.
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) Multiple deposit option account

Question  8.
________ banks are included in the second schedule of RBI.
(a) Scheduled
(b) State
(c) Commercial
(d) Corporation

Answer: (a) Scheduled

Question  9.
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) Economic development

Question  10.
In which year Crop Insurance scheme was introduced in India?
(a) 1978-79
(b) 1985-86
(c) 1948-49
(d) 1990-91

Answer: (b) 1985-86

Question  11.
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) Liability Insurance

Question  12.
The fee charged by the insurer on account of providing services is called
(a) Premium
(b) Profit
(c) Dividend
(d) Instalment

Answer: (a) Premium

Question  13.
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) Money Back Policy

Question  14.
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 above

Answer: (c) Cattle insurance

Question  15.
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) The Reserve Bank of India

Question  16.
The study of communication through touch is ________
(a) Chronemics
(b) Haptics
(c) Proxemics
(d) Semantics

Answer: (b) Haptics

Question  17.
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) The Reserve Bank of India

Question  18.
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 above

Answer: (a) Crossed Cheque

Question  19.
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) Code of Hammurabi

Question  20.
Which of the following element is present in the case of Life Insurance?
(a) Security, Investment
(b) Security
(c) Investment
(d) Profit

Answer: (a) Security, Investment

Question  21.
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) Account payee

Question  22.
Which of the following has the largest number of branches across India?
(a) Postal offices
(b) Banks
(c) SBI
(d) Insurance companies

Answer: (a) Postal offices

Question  23.
Overdraft Facility is available on
(a) Current deposit account
(b) Recurring Deposits
(c) Saving Deposit Account
(d) Fixed deposits

Answer: (a) Current deposit account

 

 

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