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.
Students who are searching for NCERT MCQ Questions Class 11 Business Services with Answers are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 Business Services with Answers. You can also verify your answers from the provided MCQ Class 11 Business Services with Answers. So, ace up your preparation with MCQ of Class 11 Business Studies Examinations.
MCQ Questions Class 11 Business Services with Answers - Set - 4
Question 1:Â
The main objective of this account is to enable the businessman to conduct its business transactions smoothly.  Â
(a) Multiple opiton deposit account
(b) Savings account
(c) Recurring deposit account
(d) Current account
Correct Answer – (D)
Question 2:Â
Joint life policy is taken up by a person for his/her children to meet the expenses of their education or marriage.  Â
(a) True
(b) False
(c) Can’t say
(d) Partially true
Correct Answer – (B)
Question 3:Â
____________ is a contract of insurance, in which an insurer enters into a contract with another insurer to insure the whole or a part of risk covered by the first insurer. Â
(a) Double insurance
(b) Hull insurance
(c) Reinsurance
(d) Burglary insurance
Correct Answer – (C)
Question 4:Â
The amount deposited in a savings bank account of a person is an asset for the depositor, while on the other hand it is a liability for the bank. Based on its nature it can be classified as a  Â
(a) time liability
(b) demand liability
(c) long-term liability
(d) None of these
Correct Answer – (B)
Question 5:Â
Which of the following is not applicable in life insurance contract?   Â
(a) Conditional contract
(b) Unilateral contract
(c) Indemnity contract
(d) None of the above
Correct Answer – (C)
MCQ Questions Class 11 Business Services With Answers
Question 6:Â
Which of the following is not a function of insurance?  Â
(a) Risk sharing
(b) Assist in capital formation
(c) Lending of funds
(d) None of the above
Correct Answer – (C)
Question 7:Â
Abhinav took a fire insurance policy for his property worth ` 5,00,000 with two insurers: ICICI Lombard General Insurance Co. Ltd. for ` 4,00,000 and Bajaj Allianz General Insurance Co. Ltd. for ` 20,000. An electric short circuit in his property caused fire and it resulted in a loss of ` 1,50,000. He filed a claim for ` 100,000 against each of the two insurance companies. Which principle of insurnace has been highlighted in given case? Â
(a) Mitigation
(b) Proximate cause
(c) Contribution
(d) Indemnity
Correct Answer – (C)
Question 8:Â
In recurring deposit account, the depositor enjoys the liquidity of saving account and interest rate of fixed deposit account. Â
(a) True
(b) False
(c) Can’t say
(d) Partially true
Correct Answer – (B)
Question 9:Â
It is a type of payment instrument in which money is loaded in advance to make purchases. Identify which type of digital payment method is described above? Â
(a) Credit card
(b) Debit card
(c) Prepaid card
(d) None of these
Correct Answer – (C)
Question 10:Â
If the cargo does not reach its destination due to damage or destruction in the transit, the shipping company is not paid freight charges. To over come losses suffered by such circumstances, shipping companies opt for Â
(a) ship insurance
(b) hull insurance
(c) cargo insurance
(d) freight insurance
