Test: Business Services- Case Based Type Questions - Commerce MCQ

Direction: Rohan Mishra after completing his graduation in Telecommunications from a reputed Engineering College came back to his native town in Bhilwara, Rajasthan. He decided to help his father who owns a textile mill in Gulabpura, Bhilwara but he did not find it interesting. He wanted to do something in the telecom sector. His father did not know much about such services so, Rohan explained him about various telecom services available.

(a) Telecom service that utilizes any type of network equipment connected through fiber optic cables laid across length and breadth of the country.

(b) Type of mobile telecom services including voice and non-voice messages and data service.

(c) Linkages and switched services within a licensed area of operation to operate media services.

(d) Satellite based media service provided by cellular companies through dish antenna and a set top box.

(e) Satellite based communication services which can be used to provide innovative applications such as online newspaper, tele-education, etc

On the basis of above paragraph, answer the following questions.

“Linkages and switched services within a licensed area of operation to operate media services.” Q. Satellite based communication services which can be used to provide innovative applications such as online newspaper, tele-education, etc. This is __________ services.

Direction: Read the following text and answer the questions that follow:

Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.

’...her to apply for virtual banking services’.

Q. Which of the following is not true about Virtual banking?

Direction: Read the following text and answer the questions that follow:

Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.

Q. Which of the following is not the method of digital payment?

Direction: Read the following text and answer the questions that follow:

Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.

Q. What is the full form of RTGS?

Direction: Read the following text and answer the questions that follow:

Shipra Oswal is a software professional working in T.K.Industries Ltd. at Kerala. Her parents are residing in Agra. Due to family emergency, her father asked her to send ` 4 lakhs in his saving bank account in SBI at the earliest. Shipra is having her bank account with Bank of Baroda but she has not opted for digital payment system or e-banking services. She approached her bank manager Mr. Vivek Mishra, for remittance of the amount to her father’s account. He told her that she can adopt Electronic Fund Transfer options: RTGS or NEFT.He advised her to apply for virtual banking services enlisting its benefits and started her mobile banking services from the same day. Shipra successfully transferred the amount to her father using RTGS.

Q. The reason why Shipra chose RTGS, not NEFT is:

Direction: Read the following text and answer the questions that follow:

Mr. Shailesh owns an oil factory in Rajasthan. Due to illness of his parents living in the UK, he had to go to UK. There he joined a job. He asked his friend Mr. Vijay Arora to take charge of his company till he returns to India. Mr. Vijay took a fire insurance policy for this factory from Sokhim Free Insurance Pvt. Ltd. A month before he got the fire insurance policy, he received a notice from electricity department to get the wiring of the company repaired. He didn’t inform the insurance company about it. He didn’t get the wiring of the factory repaired. After five months of taking the policy, the factory caught fire due to faulty wiring.

“Mr. Vijay took a fire insurance policy for this factory from Zokhim Free Insurance Pvt. Ltd....”.

Q. Which principle of insurance is relevant here?

Direction: Read the following text and answer the questions that follow:

Mr. Shailesh owns an oil factory in Rajasthan. Due to illness of his parents living in the UK, he had to go to UK. There he joined a job. He asked his friend Mr. Vijay Arora to take charge of his company till he returns to India. Mr. Vijay took a fire insurance policy for this factory from Sokhim Free Insurance Pvt. Ltd. A month before he got the fire insurance policy, he received a notice from electricity department to get the wiring of the company repaired. He didn’t inform the insurance company about it. He didn’t get the wiring of the factory repaired. After five months of taking the policy, the factory caught fire due to faulty wiring.

Q. In the above case, at what time the insurable interest must be present?

Direction: Read the following text and answer the questions that follow:

Mr. Shailesh owns an oil factory in Rajasthan. Due to illness of his parents living in the UK, he had to go to UK. There he joined a job. He asked his friend Mr. Vijay Arora to take charge of his company till he returns to India. Mr. Vijay took a fire insurance policy for this factory from Sokhim Free Insurance Pvt. Ltd. A month before he got the fire insurance policy, he received a notice from electricity department to get the wiring of the company repaired. He didn’t inform the insurance company about it. He didn’t get the wiring of the factory repaired. After five months of taking the policy, the factory caught fire due to faulty wiring.

Q. “He didn’t inform the insurance company about it.” Identify the principle violated here.

Direction: Read the following text and answer the questions that follow:

Mr. Shailesh owns an oil factory in Rajasthan. Due to illness of his parents living in the UK, he had to go to UK. There he joined a job. He asked his friend Mr. Vijay Arora to take charge of his company till he returns to India. Mr. Vijay took a fire insurance policy for this factory from Sokhim Free Insurance Pvt. Ltd. A month before he got the fire insurance policy, he received a notice from electricity department to get the wiring of the company repaired. He didn’t inform the insurance company about it. He didn’t get the wiring of the factory repaired. After five months of taking the policy, the factory caught fire due to faulty wiring.

“He didn’t get the wiring done ...”.

Q. Name the related principle not followed by Mr. Vijay Arora in the above-stated lines.

Direction: Read the following passage and answer the questions that follow:

Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.

“He has opened an account with PNB and every day he makes number of transactions, both deposits and withdrawals.”

Q. Identify the bank account stated in the above line.

Direction: Read the following passage and answer the questions that follow:

Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.

Q. Which of the following Bank Account is a non interest bearing bank account?

Direction: Read the following passage and answer the questions that follow:

Mr. Krishna Kumar is a businessman, dealing in confectionery items. His marketing strategy and quality control system has enabled him to create a niche market for his products. He has opened an account with PNB and every day he makes a number of transactions, both deposits and withdrawals to conduct his business smoothly. Sometimes he even withdraws more than the balance available in his account. But he doesn’t earn any interest on this account. Apart from this account, he has opened Recurring Deposit Account also in which he deposits ` 10,000 monthly. He believes that money should not be kept idle, rather it should be invested in productive channels as money begets money.

The Current Account holders enjoy the facility of withdrawing more than balance in their Account.

Q. Name the facility mentioned here.