Test: Business Services - 2


20 Questions MCQ Test Business Studies (BST) Class 11 | Test: Business Services - 2


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This mock test of Test: Business Services - 2 for Commerce helps you for every Commerce entrance exam. This contains 20 Multiple Choice Questions for Commerce Test: Business Services - 2 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Business Services - 2 quiz give you a good mix of easy questions and tough questions. Commerce students definitely take this Test: Business Services - 2 exercise for a better result in the exam. You can find other Test: Business Services - 2 extra questions, long questions & short questions for Commerce on EduRev as well by searching above.
QUESTION: 1

From the following which of this is covered under marine Insurance?

Solution:

Marine Insurance is a type of insurance that covers cargo losses or damage caused to ships, cargo vessels, terminals, and any transport in which goods are transferred or acquired between different points of origin and their final destination. Liability insurance provides protection against claims resulting from injuries and damage to people and/or property. Hence, marine insurance comes under liability insurance.

QUESTION: 2

Which of the following contained one of the earliest applications of insurance principles?

Solution:

The correct option is Option C.

The Code of Hammurabi was one of the earliest and most complete written legal codes and was proclaimed by the Babylonian king Hammurabi, who reigned from 1792 to 1750 B.C. Hammurabi expanded the city-state of Babylon along the Euphrates River to unite all of southern Mesopotamia. The Hammurabi code of laws, a collection of 282 rules, established standards for commercial interactions and set fines and punishments to meet the requirements of justice. Hammurabi’s Code was carved onto a massive, finger-shaped black stone stele (pillar) that was looted by invaders and finally rediscovered in 1901.

QUESTION: 3

From the following which of this is covered under BurglaryInsurance ?

Solution:

Burglary insurance is an insurance policy that provides financial compensation for loss or damage caused to property and valuable items due to burglary. Jewelry and Valuables are covered under Burglary Insurance.

QUESTION: 4

In which year Crop Insurance scheme was introduced in India.?

Solution:
QUESTION: 5

Bankers are not only dealers of money but also leaders in

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QUESTION: 6

A bank, which occupies a central position in the monetary and banking system of the country and has a superior financial authority, is

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QUESTION: 7

When money is deposited for a fixed period it s called

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QUESTION: 8

bankers are called as manufacturers of

Solution:
QUESTION: 9

A cheque in circulation for more than six months is called

Solution:

A state cheque is a cheque which has to presented to the bank after six or more then 6 months after the cheque was written.

QUESTION: 10

Banks are necessary for the effective implementation of _________policy.

Solution:
QUESTION: 11

Banks accept deposits and ___________ money.

Solution:
QUESTION: 12

___________ banks are included in the second schedule of RBI.

Solution:

Scheduled Banks in India refer to those banks which have been included in the Second Schedule of Reserve Bank of India Act, 1934. RBI in turn includes only those banks in this Schedule which satisfy the criteria laid down vide section 42(6).

QUESTION: 13

_____ arrangement by which a bank allows his customer to borrow money up to specified limit.

Solution:
QUESTION: 14

___________ cheque is payable to the person named in the cheque or his order.

Solution:

An order cheque is one which is payable to a particular person. The payee can transfer an order cheque to someone else by signing his or her name on the back of it.

QUESTION: 15

Addition of the words___________ directs the banker to collect the cheque and credit the proceeds to the payees account.

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QUESTION: 16

__________ means any thing written on the back of a negotiable instrument.

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QUESTION: 17

Insurance is based on the principle of ______________

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QUESTION: 18

Insurance is a contract between _________ and ________

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QUESTION: 19

An insurance provides support after the death of the policy holder is called____

Solution:

 

QUESTION: 20

Motor insurance had its beginning in the _____________

Solution:

A compulsory car insurance scheme was first introduced in the United Kingdom with the Road Traffic Act 1930. This ensured that all vehicle owners and drivers had to be insured for their liability for injury or death to third parties whilst their vehicle was being used on a public road.

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