
Business services Quiz=1
Authored by Raj Narayan Yadav
Business
11th Grade
Used 12+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
____________account is meant for people who wish to save a part of their income to safeguard the future and can interest on it.
Current account
Savings account
Recurring account
Multiple option account
Answer explanation
Savings account is for saving income, earning interest, and securing the future.
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
When a property is insured by more than one insurance (i.e. in case of multiple insurance), the insurers are to share losses in what proportion?
Ratio of premiums received
Ratio of duration of insurance
Ratio of amount insured
Equal ratio
Answer explanation
When a property is insured by multiple insurance, the insurers share losses in the ratio of the amount insured. This ensures fair distribution of liability among the insurers.
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
In case of fire insurance policy, the insurer is liable to compensate for the loss only when the proximate cause of loss is fire.
True
False
Can’t say
Partially true
Answer explanation
The insurer compensates for loss only when the proximate cause is fire. Therefore, the correct answer is True.
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Mr. Narayan, a businessman, has a current account in SBI, his current account shows balance of just ` 40,000, while he urgently needs ` 2,50,000 to pay off one of his creditors.He approaches SBI to allow him to withdraw ` 2,50,000, using the facility extended by the bank to him due to his creditworthiness. The bank agrees to it.Identify the facility which has been provided by SBI to Narayan.
Borrowing
Bank overdraft
Banker’s cheque
None of these
Answer explanation
SBI provided Narayan with a bank overdraft facility to withdraw ` 2,50,000 from his current account.
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If the cargo does not reach its destination due to damage or destruction in the transit, the shipping company is not paid freight charges. To overcome losses suffered by such circumstances,shipping companies opt for
ship insurance
hull insurance
cargo insurance
freight insurance
Answer explanation
Freight insurance is chosen by shipping companies to cover losses in case the cargo is damaged or destroyed during transit, ensuring they are paid for their services.
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
In recurring deposit account, the depositor enjoys the liquidity of saving account and interest rate of fixed deposit account.
True
False
Can’t say
Partially true
Answer explanation
Recurring deposit accounts do not offer the interest rate of fixed deposit accounts. Therefore, the statement is false.
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Raj gets the information about the rate of interest on fixed deposit by a telephonic conversation with an officer of a bank. Name this type of banking.
Internet banking
e-banking
Tele-banking
None of these
Answer explanation
Tele-banking is the correct choice as it refers to obtaining banking information through telephonic conversation with a bank officer.
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