NCERT Class 11 Chapter 4 Business Studies Business Services MCQ

NCERT Class 11 Chapter 4 Business Studies Business Services MCQ | Questions & Answers: With the help of this page, you can take the NCERT Class 11 Chapter 4 Business Studies Business Services MCQ Quiz. Get the instant results for your responses at the end by submitting the answers.

Page 1 of 3

1. Which of the following is not applicable in life insurance contracts

A. Indemnity contract

B. Unilateral contracts

C. Conditional Contracts.

D. None of the options

2. Overdraft Facility is available on

A. Current deposit account.

B. Recurring Deposits

C. Saving Deposit Account.

D. Fixed deposits.

3. The largest commercial bank of India

A. SBI

B. RBI

C. PNB

D. ICICI

4. You have to export a consignment of iron ore to France. Which mode of transport will you choose to send it?

A. Air

B. Sea

C. Rail

D. Road

5. Life insurance is a contract of assurance because

A. The sum assured will be certainly paid

B. The policy will certainly mature

C. Death will certainly occur

D. The loss will definitely occurred

6. DTH services are provided by

A. Cellular companies

B. Postal companies

C. Transport companies

D. Banks

7. Which one of the following is NOT the form of e- banking services offered by e-banking?

A. Cheque

B. ATM

C. Pos

D. EFTS

8. IndusInd Bank comes under which category of banks?

A. Private Sector Banks

B. Public Sector Banks

C. Cooperative Banks

D. None of the options

9. RTGS is a fund transfer system from one bank to another

A. Transactions are settled immediately

B. On a real time basis

C. On gross basis

D. None of the options

10. Which of the following is the subject matter of Marine Insurance?

A. All the above

B. Freight

C. Hull

D. Cargo

Page 2 of 3

11. Which of the following is not covered under the principle of indemnity?

A. Life Insurance

B. Fire Insurance

C. Marine Insurance

D. Theft Insurance

12. A person gets his house (worth RS. 12,00,000) insured from three insurance companies, i.e., A: Rs. 2,00,000, B: Rs. 4,00,000, C: Rs. 6,00,000. At the time of incurrence of loss, the compensation will be paid by insurance companies in the ratio of 1: 2: 3. Identify the principle being referred here.

A. Principle of Contribution

B. Principle of Mitigation of loss

C. Principle of Proximate Cause

D. Principle of Mitigation of loss

13. 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

14. In case of Life Insurance, at what time does the insurable interest needs to be present?

A. Taking an Insurance policy

B. Taking Insurance policy and Claiming for loss incurred

C. Claiming for loss incurred

D. None of the options

15. The largest commercial bank of India

A. SBI

B. RBI

C. PNB

D. ICICI

16. Which of the following element is present in the case of Life Insurance?

A. Security, Investment

B. Security

C. Investment

D. Profit

17. The fee charged by the insurer on account of providing services is called

A. Premium

B. Profit

C. Dividend

D. Instalment

18. It is a type of saving bank account in which excess of a particular limit gets automatically transferred to fixed deposit account.

A. Multiple deposit option account

B. Current account

C. Recurring deposit account

D. Salary account

19. Which principle of insurance states that the insured must take reasonable steps to minimize the loss or damage to the insured property?

A. Principle of Mitigation of loss

B. Principle of Proximate Cause

C. Principle of Indemnity

D. Principle of Contribution

20. It refers to the pecuniary interest in the subject matter of the contract of insurance. Identify the concept.

A. Insurable Interest

B. Mitigation of loss

C. Subrogation

D. Indemnity

Page 3 of 3

21. Bankers cheque is also known as

A. Pay order

B. Bank draft

C. Demand draft

D. Bearer cheque

22. This category of cheque is to be deposited only in the payees account.

A. Crossed Cheque

B. Bearer Cheque

C. Both Crossed Cheque and Bearer Cheque

D. None of the options

23. Its main function is to control and coordinate 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

24. Which of the following does not come under E-banking?

A. Overdraft

B. Debit Card

C. Electronic Fund Transfer

D. Automatic Teller Machine

25. Which one of the following is NOT the form of e- banking services offered by e-banking?

A. Cheque

B. ATM

C. Pos

D. EFTS