Quiz on Business Services Class 11

 

1. Which of the following are the functions of a bank?

A) Accepting deposits
B) Lending funds
C) Cheque facility
D) All the above

ANSWER= (D) All the above

 

2. What is the minimum amount to transact in RTGS?

A) No minimum amount
B) Rs 50,000
C) Rs 200,000
D) Rs 20,000

ANSWER= ( C ) Rs 200,000

 

3. Which principle of insurance is not applicable to life insurance?

A) Utmost good faith
B) Insurable Interest
C) Indemnity
D) None of the above

ANSWER= ( C ) Indemnity

 

4. Which principle of insurance states that the insured should not become careless after taking insurance policy?

A) Contribution
B) Subrogation
C) Indemnity
D) Mitigation

ANSWER= ( D ) Mitigation

 

5.A person suffering from cancer did not disclose the fact while taking a life insurance policy. Name the principle he violated.

A) Utmost good faith
B) Insurable Interest
C) Indemnity
D) Mitigation

ANSWER= ( A ) Utmost good faith

 

6. Overdraft facility is provided in

A) Saving Deposits
B) Current Deposits
C) Fixed Deposits
D) Recurring Deposits

ANSWER= ( B ) Current Deposits

 

7. Which of the following is a feature of services?

A) Intangibility
B) Inseparability
C) Inconsistency
D) All of the above

ANSWER= ( D ) All of the above

 

8. What is the minimum amount to transact in NEFT?

A) No minimum amount
B) Rs 200,000
C) Rs 100,000
D) Rs 50,000

ANSWER= ( A ) No minimum amount