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


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

Test: Business Services- Case Based Type Questions for Commerce 2024 is part of Commerce preparation. The Test: Business Services- Case Based Type Questions questions and answers have been prepared according to the Commerce exam syllabus.The Test: Business Services- Case Based Type Questions MCQs are made for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Business Services- Case Based Type Questions below.
Solutions of Test: Business Services- Case Based Type Questions questions in English are available as part of our course for Commerce & Test: Business Services- Case Based Type Questions solutions in Hindi for Commerce course. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free. Attempt Test: Business Services- Case Based Type Questions | 15 questions in 30 minutes | Mock test for Commerce preparation | Free important questions MCQ to study for Commerce Exam | Download free PDF with solutions
Test: Business Services- Case Based Type Questions - Question 1
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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.

Q. Which of the following is not an example of telecom services?

Detailed Solution for Test: Business Services- Case Based Type Questions - Question 1
Telecommunication means transferring signals over a distance. Services that offer voice, internet, television, networking, and data services over a large area are known as telecom services. They can either be wired or wireless. Postal services is not an example of telecom services.
Test: Business Services- Case Based Type Questions - Question 2
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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.

Q. Identify the telecom service indicated in point (a) given above.

Detailed Solution for Test: Business Services- Case Based Type Questions - Question 2
A fixed-line can be seen as a connection to an end customer, by means of a cable, through which a user can make phone calls or connect to the Internet. Fixed-lines are clearly separate from the mobile phone network, by which end users are connected to the network via wireless transmission technologies.
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Test: Business Services- Case Based Type Questions - Question 3
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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. This best suits to which of the following options:

Detailed Solution for Test: Business Services- Case Based Type Questions - Question 3
Cable services are referred to in the above paragraph. A subscription television service that uses cables to carry signals between local distribution antennas and the subscriber's location.
Test: Business Services- Case Based Type Questions - Question 4
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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.
Detailed Solution for Test: Business Services- Case Based Type Questions - Question 4
Satellite based communication services which can be used to provide innovative applications such as online newspapers, tele-education, etc. This is VSAT services.
Test: Business Services- Case Based Type Questions - Question 5
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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?
Detailed Solution for Test: Business Services- Case Based Type Questions - Question 5
A customer can transfer funds using Bank Draft is not true about Virtual banking. A virtual bank works when a customer, first of all, opens an account with the virtual bank.
Test: Business Services- Case Based Type Questions - Question 6
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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?
Detailed Solution for Test: Business Services- Case Based Type Questions - Question 6
Cash credit is not the method of digital payment. Cash credit is a type of short-term working capital loan extended by financial institutions, which allows the borrowers to utilise money without holding a credit balance in an account.
Test: Business Services- Case Based Type Questions - Question 7
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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?
Detailed Solution for Test: Business Services- Case Based Type Questions - Question 7

  • RTGS: Real Time Gross Settlement.

  • The term real-time gross settlement (RTGS) refers to a funds transfer system that allows for the instantaneous transfer of money and/or securities. RTGS is the continuous process of settling payments on an individual order basis without netting debits with credits across the books of a central bank.

Test: Business Services- Case Based Type Questions - Question 8
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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:
Detailed Solution for Test: Business Services- Case Based Type Questions - Question 8
The reason why Shipra chose RTGS, not NEFT is that In RTGS, payment is not subjected to any waiting period.
Test: Business Services- Case Based Type Questions - Question 9
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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?
Detailed Solution for Test: Business Services- Case Based Type Questions - Question 9
Insurable interest is a type of investment that protects anything subject to a financial loss. A person or entity has an insurable interest in an item, event or action when the damage or loss of the object would cause a financial loss or other hardships.
Test: Business Services- Case Based Type Questions - Question 10
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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?
Detailed Solution for Test: Business Services- Case Based Type Questions - Question 10
At the time of taking policy and at the time of loss; insurable interest must be present.
Test: Business Services- Case Based Type Questions - Question 11
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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.
Detailed Solution for Test: Business Services- Case Based Type Questions - Question 11
The doctrine of utmost good faith is a principle used in insurance contracts, legally obliging all parties to act honestly and not mislead or withhold critical information from one another. Violations of the doctrine of good faith can result in contracts being voided and sometimes even legal action.
Test: Business Services- Case Based Type Questions - Question 12
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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.
Detailed Solution for Test: Business Services- Case Based Type Questions - Question 12
Mitigation is the related principle not followed by Mr. Vijay Arora in the above-stated lines.
Test: Business Services- Case Based Type Questions - Question 13
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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.
Detailed Solution for Test: Business Services- Case Based Type Questions - Question 13

  • The bank account stated in the above line is Current account.

  • A current account, also known as financial account is a type of deposit account maintained by individuals who carry out significantly higher number of transactions with banks on a regular basis. It is created by the bank on request of the applicant and is made available for frequent or immediate access.

Test: Business Services- Case Based Type Questions - Question 14
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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?
Detailed Solution for Test: Business Services- Case Based Type Questions - Question 14

  • Current Account is a non interest bearing bank account.

  • Non-interest-bearing accounts are typically checking accounts with low requirements for maintenance. These tend to have lower or no fees on things such as checks, automatic teller machine use, and teller service. This kind of account may also offer low credit card rates and traveler's checks.

Test: Business Services- Case Based Type Questions - Question 15
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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.
Detailed Solution for Test: Business Services- Case Based Type Questions - Question 15
Overdraft facility is a financial facility or instrument that enables you to withdraw money from your bank account (savings or current), even if you do not have any account balance. Like any other credit facility, the bank levies an interest rate when you avail the overdraft facility.
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