MCQ Based Questions on Class 11 Business studies for chapter-4 Business Services
Find below MCQ Based Questions on Class 11 Business studies for chapter-4 Business Services all the MCQ questions are explained with correct answers and explanations. To check the correct answer click on the answer.
Find MCQ questions for class 11 Business studies-4 Business Services
Business Studies - MCQ on Business Services
Class XI
Q. 1. DTH services are provided by________.
I. Transport companies
II. Banks
III. Cellular companies
IV. None of the above
Answer:
III. Cellular companies
Explanation: Direct to Home is a satellite based media services provided by cellular companies.
Q. 2. The benefits of public warehousing includes_______.
I. Control
II. Flexibility
III. Dealer relationship
IV. None of the above
Answer:
. II.Flexibility
Explanation: Public warehouses can be used for storage of goods by traders, manufacturers or any member of the public after the payment of a storage fee or charges. It includes flexibility in number of locations
Q. 3. Which of the following is not a function of insurance?
I. Risk sharing
II. Assist in capital formation
III. Lending of funds
IV. None of the above
Answer:
.III. Lending of funds
Explanation: Insurance is protection against unforeseen risk lending is done by banks
Q. 4. Which of the following is not applicable in life insurance contract?
I. Conditional contract
II. Unilateral contract
III. Indemnity contract
IV. None of the above
Answer:
II. unilateral contract
Explanation: Insurance is not unilateral contract it is a bilateral contract
Q. 5. CWC stands for_______.
I. Central Water Commission
II. Central Warehousing Commission
III. Central Warehousing Corporation
IV. Central Water Corporation
Answer:
.III Central Warehousing Corporation
Explanation: Central Warehousing Corporation provides these services for businessmen across the country.
Q. 6 Services Are
I. Tangible
II. Intangible
III. Identified
IV. Unidentified
Answer:
II. Intangible
Explanation: Services cannot be seen, touched but they can be felt so they are intangible
Q. 7.What is an example of inconsistency in-service?
I. Banks
II. Mobiles
III. Transportation
IV. Insurance
Answer:
. II.Mobiles
Explanation: They are now used as FMCG as they are changing rapidly
Q. 8.Service relates to
I. Production
II. Consumption
III. Both
IV. Addiction
Answer:
III.Both
Explanation: Services are produced and consumed simultaneously
Q. 9.Can service be stored
I. Yes
II. No
III. May be
IV. Not sure
Answer:
II. No
Explanation: No services can be used one time they are perishable and cannot be stored
Q. 10.What is the main features of service
I. Inconsistency
II. Inseparability
III. Involvement
IV. All
Answer:
IV.All
Explanation: All of these constitute service
Q. 11.Goods are
I. Produced
II. Performed
III. Enjoyed
IV. Felt
Answer:
I. Produced
Explanation: Goods are produced thy are tangible and can be used for consumption
Q. 12.Services are classified into
I. Business service
II. Social service
III. Personal service
IV. All
Answer:
.IV.ALL
Explanation:All of the are part of service .They are different services offerd for different purpose
Q. 13.What is the type of goods
I. Heterogeneous
II. Homogenous
III. Both
IV. None
Answer:
II.Homogenous
Explanation: Goods are homogeneous and services are Homogenous
Q. 14.What do goods have
I. Participation
II. Involvement
III. Interaction
IV. None
Answer:
II. Involvement
Explanation: Involvement at the time of manufacturing of goods
Q. 15.What is GATS
I. General Agreement on Trade in Services
II. General Agreement on tariff in Services
III. General Agreement on Transfer of Services
IV. General Agreement on Trade in social Services
Answer:
I. General Agreement on Trade in Services
Explanation: The new General Agreement on Trade in Services (GATS) for the first time framed internationally agreed rules and commitments,
Q. 16.Social service is related to
I. Trade
II. Health care
III. Infrastructure
IV. transportation
Answer:
II.Health care
Explanation:Caring for health and helping people is related to social service
Q. 17.Is personal service consistent in nature
I. Yes
II. No
III. May be
IV. None
Answer:
. II.No
Explanation: Personal service is inconsistent in nature according to need of consumer the personal service changes
Q. 18.What is the functions of Bank
I. Deposits of money
II. Withdrawal
III. Lending
IV. All
Answer:
IV.ALL
Explanation: Banks are institutions which lends money accepts deposits give interest and customer can withdraw
Q. 19.Commercial Banks are governed under:
I. Indian Banking Regulation Act 1949
II. Indian Banking Regulation Act 1950
III. Indian Banking Regulation Act 1951
IV. Indian Bank Act 1949
Answer:
I.Indian Banking Regulation Act 1949
Explanation: The banking acts lays down all the laws ,rules and regulation related to banking
Q. 20. Public sector banks has maximum share of
I. Public
II. Government
III. Foreign bank
IV. None
Answer:
.II.Government
Explanation: Government owns maximum share of public sector
Q. 21. How many public sector banks are presented in India
I. 15
II. 20
III. 25
IV. 21
Answer:
II.20
Explanation: Thereare 20 public sector banks in India SBI, SBBJ, Canara Bank,PNB etc.
Q. 22. What is the purpose of cooperative bank
I. Deposits
II. Savings
III. Cheap credit
IV. Repayment
Answer:
III.Cheap credit
Explanation: Cooperative bank provide credit on less interest rates to their members
Q. 23.Cooperative bank comes under
I. Indian Banking Regulation Act 1949
II. State Cooperative Societies Act
III. Central Cooperative Societies Act
IV. Indian company Act 1956
Answer:
II.State Cooperative Societies Act
Explanation: Cooperative bank comes under State cooperative act
Q. 24.Agricultural financing is mainly done through
I. Commercial banks
II. Cooperative banks
III. Specialized banks
IV. Central bank
Answer:
II.Cooperative banks
Explanation: It is an important source of rural credit i.e., agricultural financing in India.
Q. 25. Commercial Banks Activity are regulated by
I. State bank
II. Central bank
III. Public sector Bank
IV. Cooperative bank
Answer:
II.Central Bank
Explanation: All banks comes under RBI which is the governing body
Q. 26. Which is the central bank in INDIA
I. SBI
II. RBI
III. PNB
IV. SBBJ
Answer:
II.RBI
Explanation: The Reserve Bank of India is the central bank of our country.
Q. 27 How much interest do bank pay
I. Varies from bank to bank
II. Decided by RBI
III. Changes according to need
IV. SBI
Answer:
II.Decided by RBI
Explanation: RBI is the whole and sole regulating body which decided the guidelines for banks
Q. 28.The latest virtual banking is called
I. Credit and debit cards
II. e-banking
III. ATM
IV. e-business
Answer:
II..e-banking
Explanation: The latest wave in information technology is internet banking. It is a part of virtual banking and another delivery channel for customers.
Q. 29.What is insurance
I. Risk against uncertainty
II. Protection against risk
III. A pool of money for saving
IV. None
Answer:
.II.Protection against risk
Explanation:Insurance is thus a device by which the loss likely to be caused by an uncertain event is spread over a number of persons who are exposed to it and who are prepared to insure themselves against such an event
Q. 30. What do you mean by utmost good faith principle
I. People have faith on insurance companies
II. Insurance companies have faith on people
III. Both insurer and insured disclose correct information
IV. Claim will be settled
Answer:
.III.Both insurer and insured disclose correct information
Explanation:Both the insurer and the insured display good faith towards each other in regard to the contract.
Q. 31.What is insurable interest
I. The interest paid by insurance companies
II. The insurance have interest in the persons life
III. The insured must have an insurable interest in the subject matter of insurance.
IV. None
Answer:
III.The insured must have an insurable interest in the subject matter of insurance.
Explanation:Insurable interest means some interest in the subject matter of the insurance contract.
Q. 32. When the loss is the result of two or more causes, the direct cause known as
I. Approximate cause
II. Proximate cause
III. Main Cause
IV. Direct cause
Answer:
. II.Proximate cause
Explanation: When the loss is the result of two or more causes, the Proximate cause means the direct cause
Q. 33. Principles states that it is the duty of the insured to take reasonable steps to minimize the loss or damage is called
I. Indemnity
II. Proximate cause
III. Subrogation
IV. Mitigation
Answer:
IV. Mitigation
Explanation:This principles states that it is the duty of the insured to take reasonable steps to minimize the loss or damage to the insured property.
Q. 34.The installment paid by insured is called
I. Interest
II. Dividend
III. Premium
IV. Installment
Answer:
III.Premium
Explanation:Premium is the installment paid by the insured as a fee to protect the risk
Q. 35.What are the two basic life insurance policies
I. Whole life and endowment
II. Whole life and term policies
III. Endowment and term policies
IV. Money back and term policies
Answer:
III.Endowment and term policies
Explanation: Allother policies in life insurance are the combination ofEndowment and term policies
Q. 36. The amount paid by the insurer if destruction happens due to fire
I. Upto premium paid
II. Policy Amount
III. Interest amount
IV. Premium amount along with interest
Answer:
II.Policy Amount
Explanation: The amount of the policy is paid back I the form of claim.
Q. 37.What are the things involved in marine insurance
I. Ship
II. Goods
III. Freight.
IV. All
Answer:
. IV.All
Explanation There are three things involved i.e. ship or hull, cargo or goods and freight.
Q. 38.What comprises freight services together with supporting and auxiliary services
I. Insurance
II. Transportation
III. Warehousing
IV. Cellular services
Answer:
.II.Transportation
Explanation Transportation comprises freight services together with supporting and auxiliary services by all modes of transportation i.e. rail, road, air and sea for the movement of goods
Q. 39.What value added services are provided by warehouses?
I. Transit mixing,
II. Packaging
III. Labeling
IV. All
Answer:
IV.All
Explanation Certain Value added services are also provided by the warehouses, such as in transit mixing, packaging and Labeling.
Q. 40.What are the third type of insurance
I. Fire insurance
II. Marine insurance
III. Other insurance
IV. Crop insurance
Answer:
II.other insurance
Explanation Except Fire insurance and Marine insurance there is other insurance which constitutes burgarlary cattle,crop,sportsetc