{"id":17828,"date":"2022-05-27T19:30:13","date_gmt":"2022-05-27T14:00:13","guid":{"rendered":"https:\/\/mcq-questions.com\/?p=17828"},"modified":"2022-05-18T15:57:22","modified_gmt":"2022-05-18T10:27:22","slug":"mcq-questions-for-class-11-business-studies-chapter-4","status":"publish","type":"post","link":"https:\/\/mcq-questions.com\/mcq-questions-for-class-11-business-studies-chapter-4\/","title":{"rendered":"MCQ Questions for Class 11 Business Studies Chapter 4 Business Services with Answers"},"content":{"rendered":"

Students who are searching for NCERT MCQ Questions for Class 11 Business Studies Chapter 4 Business Services with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 Business Studies with Answers<\/a>. You can also verify your answers from our provided Business Services Class 11 MCQs Questions with Answers. So, ace up your preparation with MCQ on Business Services Class 11 Objective Questions.<\/p>\n

Business Services Class 11 MCQs Questions with Answers<\/h2>\n

Question 1.
\n_____ arrangement by which a bank allows its customer to borrow money up to the specified limit.
\n(a) Cash Credits
\n(b) Pass Book
\n(c) Cash Book
\n(d) Account Payee<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Cash Credits<\/p>\n<\/details>\n

\n

Question 2.
\nInsurance is a contract between _________ and ________
\n(a) Insurer, insured
\n(b) Agent, insurance
\n(c) Insured, insurance
\n(d) Insurer, family<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Insurer, insured<\/p>\n<\/details>\n

\n

Question 3.
\nA person gets his stock worth Rs. 50,000 insured for Rs. 70,000. A fire occurs and the whole stock gets damaged. The Insurance Company admits a claim of Rs. 50,000 only and not Rs. 70,000. Identify the principle of insurance being applied?
\n(a) Principle of Indemnity
\n(b) Principle of Insurable Interest
\n(c) Principle of Subrogation
\n(d) Principle of Contribution<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Principle of Indemnity<\/p>\n<\/details>\n

\n

Question 4.
\nIn which year Insurance Act was amended in India?
\n(a) 1940
\n(b) 1928
\n(c) 1938
\n(d) 1945<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) 1938<\/p>\n<\/details>\n

\n

Question 5.
\nWhich of the following is not applicable in life insurance contracts?
\n(a) Indemnity contract
\n(b) Unilateral contracts
\n(c) Conditional Contracts
\n(d) None of the above<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Indemnity contract<\/p>\n<\/details>\n

\n

Question 6.
\nIn which year Children’s Money Back plan was introduced?
\n(a) 1985
\n(b) 1988
\n(c) 1995
\n(d) 1989<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) 1995<\/p>\n<\/details>\n

\n

Question 7.
\nIt is a type of saving bank account in which excess of a particular limit gets automatically transferred to a fixed deposit account.
\n(a) Multiple deposit option account
\n(b) Current account
\n(c) Recurring deposit account
\n(d) Salary account<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Multiple deposit option account<\/p>\n<\/details>\n

\n

Question 8.
\n________ banks are included in the second schedule of RBI.
\n(a) Scheduled
\n(b) State
\n(c) Commercial
\n(d) Corporation<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Scheduled<\/p>\n<\/details>\n

\n

Question 9.
\nBankers are not only dealers of money but also leaders in
\n(a) Industry development
\n(b) Service development
\n(c) Trade development
\n(d) Economic development<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (d) Economic development<\/p>\n<\/details>\n

\n

Question 10.
\nIn which year Crop Insurance scheme was introduced in India?
\n(a) 1978-79
\n(b) 1985-86
\n(c) 1948-49
\n(d) 1990-91<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) 1985-86<\/p>\n<\/details>\n

\n

Question 11.
\nFrom the following which of these is covered under Marine Insurance?
\n(a) Whole Life policy
\n(b) Liability Insurance
\n(c) Endowment policy
\n(d) Act only<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) Liability Insurance<\/p>\n<\/details>\n

\n

Question 12.
\nThe fee charged by the insurer on account of providing services is called
\n(a) Premium
\n(b) Profit
\n(c) Dividend
\n(d) Instalment<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Premium<\/p>\n<\/details>\n

\n

Question 13.
\nWhich of the following is covered under the life Assurance policy?
\n(a) Money Back Policy
\n(b) Declaration policy
\n(c) Act only
\n(d) Cargo Insurance<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Money Back Policy<\/p>\n<\/details>\n

\n

Question 14.
\nWhich of the following is not a function of General Insurance?
\n(a) Risk sharing
\n(b) Assist in capital formation
\n(c) Cattle insurance
\n(d) None of the above<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) Cattle insurance<\/p>\n<\/details>\n

\n

Question 15.
\nWhich bank is known as Apex Bank of India?
\n(a) The Reserve Bank of India
\n(b) The State Bank of India
\n(c) The Central Bank
\n(d) The Bank of India<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) The Reserve Bank of India<\/p>\n<\/details>\n

\n

Question 16.
\nThe study of communication through touch is ________
\n(a) Chronemics
\n(b) Haptics
\n(c) Proxemics
\n(d) Semantics<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) Haptics<\/p>\n<\/details>\n

\n

Question 17.
\nIts main function is to control and coordinate the currency and credit policies of our country. Identify the institution mentioned here.
\n(a) The Reserve Bank of India
\n(b) The State Bank of India
\n(c) The Central Bank
\n(d) The Bank of India<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) The Reserve Bank of India<\/p>\n<\/details>\n

\n

Question 18.
\nThis category of the cheque is to be deposited only in the payee’s account.
\n(a) Crossed Cheque
\n(b) Bearer Cheque
\n(c) Both Crossed Cheque and Bearer Cheque
\n(d) None of the above<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Crossed Cheque<\/p>\n<\/details>\n

\n

Question 19.
\nWhich of the following contained one of the earliest applications of insurance principles?
\n(a) Napoleonic Code
\n(b) Magna Carta
\n(c) Code of Hammurabi
\n(d) Charter of London<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (c) Code of Hammurabi<\/p>\n<\/details>\n

\n

Question 20.
\nWhich of the following element is present in the case of Life Insurance?
\n(a) Security, Investment
\n(b) Security
\n(c) Investment
\n(d) Profit<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Security, Investment<\/p>\n<\/details>\n

\n

Question 21.
\nThe addition of the words___________ directs the banker to collect the cheque and credit the proceeds to the payee’s account.
\n(a) Manager
\n(b) Account payee
\n(c) Customers
\n(d) Bank<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (b) Account payee<\/p>\n<\/details>\n

\n

Question 22.
\nWhich of the following has the largest number of branches across India?
\n(a) Postal offices
\n(b) Banks
\n(c) SBI
\n(d) Insurance companies<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Postal offices<\/p>\n<\/details>\n

\n

Question 23.
\nOverdraft Facility is available on
\n(a) Current deposit account
\n(b) Recurring Deposits
\n(c) Saving Deposit Account
\n(d) Fixed deposits<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: (a) Current deposit account<\/p>\n<\/details>\n

\n

Use the above-provided NCERT MCQ Questions for Class 11 Business Studies Chapter 4 Business Services with Answers Pdf free download and get a good grip on the fundamentals. Need any support from our end during the preparation of CBSE Class 11 Business Studies Business Services MCQs Multiple Choice Questions with Answers then leave your comments below. We’ll revert back to you soon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Students who are searching for NCERT MCQ Questions for Class 11 Business Studies Chapter 4 Business Services with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 Business Studies with Answers. You can also verify your answers from our provided …<\/p>\n

MCQ Questions for Class 11 Business Studies Chapter 4 Business Services with Answers<\/span> Read More »<\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":""},"categories":[35],"tags":[],"yoast_head":"\nMCQ Questions for Class 11 Business Studies Chapter 4 Business Services with Answers - MCQ Questions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mcq-questions.com\/mcq-questions-for-class-11-business-studies-chapter-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MCQ Questions for Class 11 Business Studies Chapter 4 Business Services with Answers - MCQ Questions\" \/>\n<meta property=\"og:description\" content=\"Students who are searching for NCERT MCQ Questions for Class 11 Business Studies Chapter 4 Business Services with Answers Pdf free download are compiled here to get good practice on all fundamentals. 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