CBSE Class 11 Business Services Multiple Choice Questions with Answers. MCQ Questions Class 11 Business Services with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 Business Services with Answers to know their preparation level.
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MCQ Questions Class 11 Business Services with Answers - Set - 3
Question 1:Â
In case of cash credits, loan amount is credited in the borrower’s account andinterest is charged on the total amount credited. Â
(a) True
(b) False
(c) Can’t say
(d) Partially true
Correct Answer – (B)
Question 2:Â
Rakesh took the life insurance policy of his wife. After one year, the couple got divorced and after two years, his wife met with an accident and died on the spot. Rakesh entitled to get compensation from the insurance company, if Rakesh was regularly paying the premium amount? Â
(a) Yes
(b) No
(c) Can’t say
(d) None of these
Correct Answer – (A)
Question 3:Â
Manav gets the information about the rate of interest on fixed deposit by a telephonic conversation with an officer of a bank. Name this type of banking.  Â
(a) Internet banking
(b) e-banking
(c) Tele-banking
(d) None of these
Correct Answer – (C)
Question 4:Â
When the loss is the result of two or more causes, which of the following terms refers to the direct cause of which the loss is the natural consequence? Â
(a) Subrogation
(b) Proximate
(c) Mitigation
(d) Indemnity
Correct Answer – (B)
Question 5:Â
As per the basic principle of the fire insurance policy, it is the primary duty of the insured to take reasonable steps to prevent fire from occuring and to minimise the losses or damage to the insured property. It is the duty of the insured to behave with great prudence and not to be careless just because he has an insurance cover. This principle is known as the principle of  Â
(a) indemnity
(b) proximate cause
(c) subrogation
(d) mitigation
Correct Answer – (D)
MCQ Questions Class 11 Business Services With Answers
Question 6:Â
The minimum period of deposit in case of recurring deposit account is ……… and maximum is ……… .  Â
(a) 12months, 2 years
(b) 6 months, 10 years
(c) 4 months, 1 year
(d) 8 months, 3 years
Correct Answer – (B)
Question 7:Â
A contract by which the insurer, in consideration of a certain amount known as premium, undertakes to pay to a person or his heirs a certain amount of money on his death or on attaining a certain age is known as Â
(a) General insurance
(b) Life insurance
(c) Special insurance
(d) Burglary insurance
Correct Answer – (B)
Question 8:Â
Mr. Virat, a businessmen, has a current account in SBI, his current account shows balance of just ` 40,000, while he urgently needs ` 2,50,000 to pay off one of his creditors. He approaches SBI to allow him to withdraw ` 2,50,000, using the facility extended by the bank to him due to his creditworthiness. The bank agrees to it. Identify the facility which has been provided by SBI to Virat. Â
(a) Borrowing
(b) Bank overdraft
(c) Banker’s cheque
(d) None of these
Correct Answer – (B)
Question 9:Â
The commission charged on banker’s cheque is more than that on a bank draft. Â
(a) True
(b) False
(c) Can’t say
(d) Partially true
Correct Answer – (B)
Question 10:Â
There are services which are experienced differently by different customers. These kind of services depend upon customers preferences and demands and are known as Â
(a) Personal services
(b) Social services
(c) Business services
(d) Financial services
