Business Services

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