This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Business Studies Chapter 4 Business Services – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Business Studies Chapter 4 Business Services Quiz 3 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Insured or insurer must disclose materials facts to each other .This is related to A) Principle of indemnity. B) Principle by causa Proxima. C) Principle of utmost good faith. D) Principle if insurable interest. Show Answer Correct Answer: C) Principle of utmost good faith. 2. The person or firm who gets compensation is called: A) Insurer. B) Insured. C) Premium. D) Happening of an event. Show Answer Correct Answer: B) Insured. 3. Why would you want to have a savings account? A) To put money towards retirement. B) It is safe and ensured while kept in the bank. C) Purchases are easier through savings accounts. D) To show that you have money. Show Answer Correct Answer: B) It is safe and ensured while kept in the bank. 4. Which of the following products is an example of intangible dominant? A) Insurance. B) Teaching. C) Mining. D) Farming. Show Answer Correct Answer: B) Teaching. 5. Refer to the image featuring a napkin with the words "REDUCE REUSE RECYCLE" next to a coffee mug and pen. Which best practice from the text does this image illustrate? A) Benchmarking financial performance. B) Waste reduction through recycling and reuse programs. C) Ignoring audits to save time. D) Expanding energy use to increase output. Show Answer Correct Answer: B) Waste reduction through recycling and reuse programs. 6. The fee charged by the insurer on account of providing services is called ..... A) Profit. B) Dividend. C) Premium. D) Intallment. Show Answer Correct Answer: C) Premium. 7. After paying the full compensation, the insurer enters into the shoe of insured.This is related to A) Principle of indemnity. B) Principe of subrogation. C) Principle of contribution. D) Principle of good faith. Show Answer Correct Answer: B) Principe of subrogation. 8. The insured gets loss amount or policy amount, whichever is less. This is related to A) Principle of utmost good faith. B) Principle of causa proxima. C) Principle of indemnity. D) Principle of contribution. Show Answer Correct Answer: C) Principle of indemnity. 9. The purpose of principle of ..... is to put the insured, in the event of loss, in the same position that he occupied immediately before the happening of the event. A) Subrogation. B) Indemnity. C) Mitigation. D) None of these. Show Answer Correct Answer: B) Indemnity. 10. In fire and marine insurance, the insured event may or may not happen. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 11. An arrangement by which a bank allows its customer to borrow money up to the specified limit. A) Cash credits. B) Pass book. C) Cash book. D) Account page. Show Answer Correct Answer: A) Cash credits. 12. American express bank is a ..... bank A) Public bank. B) Private bank. C) Foreign bank. D) None of the above. Show Answer Correct Answer: C) Foreign bank. 13. How many employees does Kyndryl have globally? A) 50, 000. B) 60, 000. C) 70, 000. D) 80, 000. Show Answer Correct Answer: D) 80, 000. 14. In case of life insurance, insurable interest must exist at the time of A) Taking the policy. B) Death. C) A and b both. D) Neither a nor b. Show Answer Correct Answer: A) Taking the policy. 15. In the section on complying with environmental regulations, what does legal compliance mean? A) Following internal company traditions regardless of law. B) Behaving according to the law, including Acts passed by governments and enforceable by courts. C) Making voluntary commitments that are not enforceable. D) Relying solely on international norms without local enforcement. Show Answer Correct Answer: B) Behaving according to the law, including Acts passed by governments and enforceable by courts. 16. If a person takes fire insurance policy from 3 insurers, during loss due to fire he will get A) Loss amount compensation from all three separately. B) Loss amount, which will be contributed by all three. C) Policy amount from all insurance. D) None of above. Show Answer Correct Answer: B) Loss amount, which will be contributed by all three. 17. WHICH PRINCIPLE OF INSURANCE STATES THAT THE INSURED MUST TAKE REASONABLE STEPS TO MINIMISE THE LOSS OR DAMAGE TO THE INSURED PROPERTY? A) MITIGATION. B) PROXIMATE CASUE. C) INDEMNITY. D) CONTRIBUTION. Show Answer Correct Answer: A) MITIGATION. 18. Which of the following service of Bank permits withdrawal of money more than the balance in the account? A) Bank draft. B) Overdraft. C) Banker's cheque. D) Fixed deposit. Show Answer Correct Answer: B) Overdraft. 19. Jenis utilitas manakah yang melibatkan perubahan bentuk produk? A) Utilitas tempat. B) Utilitas waktu. C) Utilitas bentuk. D) Utilitas kepemilikan. Show Answer Correct Answer: C) Utilitas bentuk. 20. Which business service is essential for making online payments and transactions? A) Warehousing. B) Telecommunication. C) Insurance. D) Banking. Show Answer Correct Answer: D) Banking. 21. If a person takes fire insurance policy from 3 insurers.During loss due to fire he will get A) Loss amount compensation from all three seperately. B) Loss amount which will be contributed by all three. C) Policy amount from all insurance. D) None of the above. Show Answer Correct Answer: B) Loss amount which will be contributed by all three. 22. Apa tujuan dari sistem pengarsipan di kantor? A) Untuk menghilangkan kebutuhan akan penyimpanan digital. B) Tujuan dari sistem pengarsipan di kantor adalah untuk mengorganisir dan mengelola dokumen agar mudah diakses dan diambil. C) Untuk membuat cadangan semua dokumen. D) Untuk menyimpan hanya catatan keuangan. Show Answer Correct Answer: B) Tujuan dari sistem pengarsipan di kantor adalah untuk mengorganisir dan mengelola dokumen agar mudah diakses dan diambil. 23. A PERSON GETS HIS STOCK WORTH RS. 60, 000 INSURED FOR RS. 80, 000. A FIRE OCCURS AND THE WHOLE STOCK GETS DAMAGED. THE INSURANCE COMPANY ADMITS A CLAIM OF RS. 60, 000 ONLY AND NOT RS. 80, 000. IDENTIFY THE PRINCIPLE OF INSURANCE BEING APPLIED. A) PRINCIPLE OF CONTRIBUTION. B) PRINCIPLE OF SUBROGATION. C) PRINCIPLE OF INDEMNITY. D) PRINCIPLE OF INSURABLE INTEREST. Show Answer Correct Answer: A) PRINCIPLE OF CONTRIBUTION. 24. Assurance is associated with- A) Fire Insurance. B) Life Insurance. C) Motor Insurance. D) Hull Insurance. Show Answer Correct Answer: B) Life Insurance. 25. Which service from the below mentioned provides protection from risk? A) Banking. B) Transportation. C) Insurance. D) Postal and Telecom. Show Answer Correct Answer: C) Insurance. ← PreviousNext →Related QuizzesClass 11 Business Studies Chapter 4 Business Services Quiz 1Class 11 Business Studies Chapter 4 Business Services Quiz 2Class 11 Business Studies Chapter 4 Business Services Quiz 4Class 11 Business Studies Chapter 4 Business Services Quiz 5Class 11 Business Studies Chapter 4 Business Services Quiz 6Class 11 Business Studies Chapter 4 Business Services Quiz 7Class 11 Business Studies Chapter 4 Business Services Quiz 8Class 11 Business Studies Chapter 4 Business Services Quiz 9Class 11 Business Studies Chapter 4 Business Services Quiz 10Class 11 Business Studies Chapter 4 Business Services Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books