CBSE Class 11 Business Studies Business Services Worksheet

Read and download free pdf of CBSE Class 11 Business Studies Business Services Worksheet. Students and teachers of Class 11 Business Studies can get free printable Worksheets for Class 11 Business Studies Chapter 4 Business Services in PDF format prepared as per the latest syllabus and examination pattern in your schools. Class 11 students should practice questions and answers given here for Business Studies in Class 11 which will help them to improve your knowledge of all important chapters and its topics. Students should also download free pdf of Class 11 Business Studies Worksheets prepared by teachers as per the latest Business Studies books and syllabus issued this academic year and solve important problems with solutions on daily basis to get more score in school exams and tests

Worksheet for Class 11 Business Studies Chapter 4 Business Services

Class 11 Business Studies students should refer to the following printable worksheet in Pdf for Chapter 4 Business Services in Class 11. This test paper with questions and answers for Class 11 will be very useful for exams and help you to score good marks

Class 11 Business Studies Worksheet for Chapter 4 Business Services

Types of Business Services

Banking

Insurance

Communication

Warehousing

Transportation

Banking means accepting deposits of money from the public(for the purpose of lending and investment),repayable on demand and withdrawable by cheque or otherwise.

Types of Banks:-

• Commercial Banks

• Co-operative Banks

• Specialised Banks

• Central Banks

(1) Commercial Banks: A commercial bank is an institution which accepts deposits of money from the public for the purpose of lending investment.Commercial banks are governed by Indian Banking Regulation Act,1949. Following are the types of commercial banks on the basis of owenership:

2) Public Sector banks- They are owned,managed and controlled by the government. Their main emphasis is on social objectives rather than on profitability.E.g. the State Bank of India(SBI),Punjab National Bank(PNB),Canara Bank etc.

3) Private Sector banks-They are owned,managed and controlled by private promoters,e.g. HDFC Bank,ICICI Bank, etc. They emphasise more on profitability.

4) Foreign banks- They are owned and managed by foreign promoters e.g. CITI Bank,Standard Chartered Bank etc.

(2) Co-operative Banks: They provide cheap credit to their members. It is an important source of rural credit,like agricultural fincancing in India,Delhi Nagrik Sahakari Bank Ltd.

(3) Specialised Banks: These are foreign exchange banks,industrial banks,developed banks,export-import banks,etc. These provide financial aid to industries and foreign trade.e.g. IDBI,SIDBI etc.

(4) Central Bank:The Central Bank of a country is the apex institution and the monetary authority.

The Reserve Bank of India(RBI) is the Central Bank of our country. It issues currency and control money supply and credit in the country.It supervises,controls and regulated the activities of all the commercial banks. It also acts as a banker to the government.

Mcq Questions for Ncert Class 11 Business Studies Business Services

Question. Mr Ankit has a current account in State Bank of India, he is having many transactions of funds transfer every day. One day he asked bank manager to  transfer ₹ 40,000 to a client in Mumbai immediately. The bank manager replied to transfer the fund immediately minimum amount should be ₹ 2,00,000. Identify the concept discussed in the above case.
(a) NEFT
(b) Digital cash
(c) RTGS
(d) None of these

Answer : C

Question. Which of the following is/are PoS terminals?
(a) Physical PoS
(b) Mobile PoS
(c) Virtual PoS
(d) All of these

Answer : D

Question. 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?
(a) Yes
(b) No
(c) Can’t say
(d) None of these

Answer : A

Question. When a customer makes a payment using the credit card, his account balance is automatically reduced.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : B

Question. Customers are required to deposit a specified sum of money every month in his account in case of ……, which is also known as cumulative time deposit  account.
(a) savings account
(b) current account
(c) recurring deposit account
(d) joint account

Answer : C

Question. It is an electronic card issued by a financial institution authorising the holder to buy goods or services on credit.
(a) Debit card
(b) Credit card
(c) Both (a) and (b)
(d) None of these

Answer : B

Question. Banks generally put certain restrictions on number of withdrawals from current account.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : B

Question. The main objective of this account is to enable the businessman to conduct its business transactions smoothly.
(a) Multiple opiton deposit account
(b) Savings account
(c) Recurring deposit account
(d) Current account

Answer : D

Question. Mr Kabir Khan desires to have two benefits from his bank account, first, to earn higher interest on balance and second, to face minimum risk of  dishonou-ring a cheque. Which type of account should be opened by him in Indus Bank?
(a) Current account
(b) Saving account
(c) Multiple option account
(d) Recurring account

Answer : C

Question. 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
(a) time liability
(b) demand liability
(c) long-term liability
(d) None of these

Answer : B

Question. When a ship is insured against any type of danger, it is know as
(a) Life insurance
(b) Fire insurance
(c) Hull insurance
(d) None of the above

Answer : C

Question. The commission charged on banker’s cheque is more than that on a bank draft. 
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : B

Question. Banker’s cheque is also known as …… .
(a) Overdraft
(b) Cash credit
(c) Pay order
(d) None of these

Answer : C

Question. Under …… insurance, subject matter is ship, cargo or freight.
(a) life
(b) marine
(c) reinsurance
(d) None of these

Answer : B

Question. Match the following.

Chapter 4 Business Services_2

Codes
      A    B   C 
(a) (i)  (ii) (iii)
(b) (ii) (i)  (iii)
(c) (iii) (i)  (ii)
(d) (i)  (iii) (ii)

Answer : C

Question. Under which policy, policy money is payable after the assured attains, a certain age in monthly, quarterly, half yearly or annual installments?
(a) Annuity policy
(b) Life insurance policy
(c) Both (a) and (b)
(d) None of the above

Answer : A

Question. Hari took a fire insurance policy of ₹ 20 lakh for his factory at the annual premium of ₹ 24,000. In order to avoid premium more than this amount, he did  not disclose that highly explosive chemicals are being manufactured in his factory.
Due to a fire, his factory gets severly damaged.The insurance company refused to make the payment for claim as it became aware about the highly explosive chemicals. Identify the principle of insurnace violated by Hari. 
(a) Insurable interest
(b) Utmost good faith
(c) Indemnity
(d) Subrogation

Answer : B

Question. Which of the following services provides protection from risk?
(a) Banking
(b) Transportation
(c) Insurance
(d) Postal and Telecom

Answer : C

Question. 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

Answer : B

Question. A company has undertaken a fire insurnace policy for ₹ 10 lakh. After two months, due to fire it incurred a loss of ₹ 3 lakh. How much money will the  company get as compensation?
(a) ₹ 10 lakh
(b) ₹ 3 lakh
(c) ₹ 5 lakh
(d) ₹ 2 lakh

Answer : B

Question. AEPS service can be availed only when Aadhaar number is registered with the bank where account is held.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : A

Question. Which of the following is the full form of ATM?
(a) Automatic Take Money
(b) Any Time Money
(c) Automated Teller Machine
(d) None of the above

Answer : B

Question. Savings account is suitable for mobilisation of savings of people.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : A

Question. Name the banking service in which the customer can conduct banking activities like managing savings, checking accounts, applying for loans etc over the internet.
(a) Mobile banking
(b) e-banking
(c) RTGS
(d) None of these

Answer : B

Question. Mobile wallets provide which kind of services to the society?
(a) Sending and receivingmoney
(b) Making payments to merchants
(c) Online purchases
(d) All of the above

Answer : D

Question. Ankit’s warehouse was covered by a fire insurance policy of ₹ 10,00,000, two years back, his warehouse caught fire. Ankit, immediately called up the  nearest fire station and started removing the goods from warehouse in order to save them from fire. He took all reasonable steps to minimise the loss or damage. As a result, the actual loss by fire to him was ₹ 3,00,000 which could have gone up to ₹ 7,00,000, if he had not acted as a prudent person.
After scrutiny of the loss, the insurance company handed over the cheque of ₹ 3,00,000 to Ankit.
Identify and state the principle of insurance, which was followed by Ankit in the given case?
(a) Subrogation
(b) Mitigation
(c) Contribution
(d) Proximate cause

Answer : B

Question. Deepak has taken fire insurnace policy of ₹ 9,00,000 for his factory. Due to fire, he suffered a loss of ₹ 6,00,000. He claimed the loss from the insurance  company and he gets the compensation within a month.
Goods that were lost by fire were scrapped for ₹ 70,000. Deepak wants to keep this money with himself, while the insurnace company claims that ₹ 70,000 should be handed over to the company. Identify the principle of insurance which is applicable is the given case.
(a) Utmost good faith
(b) Insurable interest
(c) Subrogation
(d) None of these

Answer : C

Question. An arrangement by which a bank allows its customer to borrow money upto the specified limit.
(a) Cash credits
(b) Pass book
(c) Cash book
(d) Account page

Answer : A

Question. In case of cash credits, loan amount is credited in the borrower’s account and interest is charged on the total amount credited.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : B

Question. If a person take 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 insurers
(d) None of the above

Answer : B

Question. Match the following.

Chapter 4 Business Services_1

Codes
      A     B   C
(a) (i)   (ii) (iii)
(b) (iii) (ii)  (i)
(c)  (i)  (iii) (ii)
(d) (ii)  (iii) (i)

Answer : D

Question. Which of the following is not applicable in life insurance contract?
(a) Conditional contract
(b) Unilateral contract
(c) Indemnity contract
(d) None of the above

Answer : C

Question. The validity period of a demand draft is
(a) one month
(b) two months
(c) three months
(d) six months

Answer : C

Question. In case of which card, a holder can spend money only upto the balance in his account?
(a) Credit card
(b) Debit card
(c) Both (a) and (b)
(d) None of these

Answer : B

Question. 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
(a) indemnity
(b) proximate cause
(c) subrogation
(d) mitigation

Answer : D


Assertion–Reasoning MCQs :

Question. Assertion (A) Under life insurance contract, insurer agrees to pay a specified amount on the death of the assured, or on the expiry of a certain fixed period, whichever is earlier.
Reason (R) Loss arising on death of the assured cannot be measured in terms of money. That is why, the amount payable is fixed.
(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A)
(c) Assertion (A) is true, but Reason (R) is false
(d) Assertion (A) is false, but Reason (R) is true

Answer : A

Question. Assertion (A) Services are intangible which means they can’t be touched, but can only be felt or experienced by the consumers.
Reason (R) Services can be separated from the production activity. 
(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A)
(c) Assertion (A) is true, but Reason (R) is false
(d) Assertion (A) is false, but Reason (R) is true

Answer : C

Question. Assertion (A) Business services are those services which are used by business enterprises for the production or sale of good and services.
Reason (R) Business enterprises are much dependent on business services as these services help the enterprises to carry on their activities smoothly.
(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A)
(c) Assertion (A) is true, but Reason (R) is false
(d) Assertion (A) is false, but Reason (R) is true

Answer : A

Question. Assertion (A) Life insurance policy can be taken for any amount.
Reason (R) In case of fire insurance policy, the insurer is liable to compensate for the loss only when the proximate cause of loss is fire.
(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A)
(c) Assertion (A) is true, but Reason (R) is false
(d) Assertion (A) is false, but Reason (R) is true

Answer : B

Question. Assertion (A) In order to minimise the impact of uncertainities, there is a need for insurance.
Reason (R) There are risks of death and disability human life, fire and burgalary risk for property.
(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A)
(c) Assertion (A) is true, but Reason (R) is false
(d) Assertion (A) is false, but Reason (R) is true

Answer : A


Case Based MCQs :

Vithal Rao has a shop in Chawdi Bazaar which deals in antique idols of various gods and goddesses. He has taken an insurance policy on his shop and the stock in the shop. While taking the policy, he conveyed his intention to the insurance company that he should be provided cover under all possible risk.
The insurance company convinced Vithal Rao that the policy was comprehensive and covered every probable risk. During the tenure of the policy, an earthquake occurred and the shop and stock of Vithal Rao were destroyed completely.
He approached the insurance company for compensation of loss. However, the insurance company refused to grant him compensation on the ground that ‘loss by act of God’ was not covered by the policy.

Question. Identify the principle of insurance violated by the insurance company.
(a) Mitigation
(b) Utmost good faith
(c) Subrogation
(d) None of these

Answer : B

Question. Which of the following is/are function(s) of insurance?
(a) Providing certainity
(b) Protection
(c) Risk sharing
(d) All of the above

Answer : D

Question. The person or the firm who gets compensation is called
(a) Insurer
(b) Insured
(c) Premium
(d) Happening of an event

Answer : B

Question. Do you think Vithal Rao has ‘insurable interest’ in the shop and the stock destroyed?
(a) Yes
(b) No
(c) Can’t say
(d) None of these

Answer : A

Question. Which one of the following principles is not described in above case?
(a) Principle of utmost good faith
(b) Principle of indemmity
(c) Principle of mitigation
(d) Both (b) and (c)

Answer : D

Madhu is running a general store. The store was insured against natural disaster like flood, earthquake and fire from Hindustan General Insurance Company for the amount of ₹50 lacs.
Heavy raining in the city caused massive flood.This left the store without any security. The store was looted by people which was caught on CCTV.
She claimed from the insurance company the amount of damage of ₹13 lacs for the material and furniture spoiled from flood and also ₹ 5 lacs for the loss of material by theft, she also claimed another ₹ 25 lacs to convert the store into fully AC and additional floor for more storage space.
Insurer after assessing the damage to the property and stock due to flood and seeing the CCTV footage, accepted the claim of ₹ 13 lacs. Madhu argued that as she has being paying premium for ₹ 50 lacs, she should be paid the full claim of ₹ 43 lacs.

Question. What is the fundamental principle of insurance on the basis of which insurer accepted a claim?
(a) Subrogation
(b) Mitigation
(c) Proximate cause
(d) None of these

Answer : C

Question. According to you, how much compensation should be reimbursed by insurance company?
(a) ₹ 43 lacs
(b) ₹ 13 lacs
(c) ₹ 3 lacs
(d) ₹ 25 lacs

Answer : B

Question. How many types of losses are there in proximate cause?
(a) Insured perils
(b) Uninsured perils
(c) Both (a) and (b)
(d) None of these

Answer : C

Question. Identify the another principle of insurance involved by insurance company by accepting the claim amount of ₹ 13 lacs.
(a) Principle of indemnity
(b) Principle of mitigation
(c) Principle of utmost faith
(d) Principle of contribution

Answer : A

Question. In which type of insurance, ‘Principle of Indemnity’ is not applicable?
(a) Marine insurance
(b) Fire insurance
(c) Life insurance
(d) None of these

Answer : C

Dhani Mani Bank is a private sector bank offering various services to its customers. It offers various types of bank account options to its customers.
Raksha being a businessman has chosen the type of account in which the deposits all the most liquid and there is no limit to the number of transactions or the amount of transactions in a day.
On the other hand, his mother has opened a type of account where she can conveniently deposit the money she saves. She has got cheque facility and lot of flexibility for deposits and withdrawal whereas Raksha’s sister Reema opened the account where she will deposit ₹ 2,000 per month for next 2 years and one of his employee opened an account which is a combination of savings account and fixed deposit account.

Question. ‘‘On the other hand, his mother ……… the money she saves.’’
Identify the type of bank account used by his mother.
(a) Saving account
(b) Current account
(c) Recurring account
(d) None of these

Answer : A

Question. Raksha’s sister Reema opened ……… for next year.’’
Identify the type of bank account used by Reema.
(a) Current account
(b) Recurring deposit
(c) Saving account
(d) Fixed deposit account

Answer : B

Question. Which of the following account is not discussed in above case?
(a) Fixed deposit account
(b) Saving account
(c) Recurring deposit account
(d) Current account

Answer : A

Question. ‘‘Raksha being a businessman ……… amount of transactions in a day.’’ Identify the type of bank account used by Raksha.
(a) Saving account
(b) Current account
(c) Fixed deposit account
(d) Recurring account

Answer : B

Question. ‘‘One of his employee opened ……… and fixed deposit account.’’
Identify the type of bank account used by his employee.
(a) Saving account
(b) Current account
(c) Multiple option deposit account
(d) None of the above

Answer : C

Mcq Questions for Ncert Class 11 Business Studies Business Services 

Question. This health insurance policy combines health insurance with investment. The insurer pays back a specified amount at the end of the period. Identify which policy is this?
(a) Individual mediclaim policy
(b) Family floater policy
(c) Unit linked health plans
(d) None of the above

Answer : C

Question. 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?
(a) Subrogation
(b) Proximate
(c) Mitigation
(d) Indemnity

Answer : B

Question. A countrywide system through which person can electronically transfer from one bank branch to another person having an account with the other bank  branch in the country is known as
(a) Pay order
(b) RTGS
(c) Bank draft
(d) NEFT

Answer : D

Question. ……… account is meant for people who wish to save a part of their income to safeguard the future and can interest on it.
(a) Current account
(b) Savings account
(c) Recurring account
(d) Multiple option account

Answer : B

Question. Kavya took a marine policy worth ₹ 2,00,000 to protect her goods from the perils of sea. On the way, the goods were spoiled by rats. She suffered a loss of ₹ 100,000. She filed a claim for loss against the insurance company.
Which principal of insurance is highlighted in the given case?
(a) Subrogation
(b) Mitigation
(c) Proximate cause
(d) Contribution

Answer : C

Question. Mobile banking refers to the process of carrying out banking transactions online.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : B

Question. 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?
(a) Mitigation
(b) Proximate cause
(c) Contribution
(d) Indemnity

Answer : C

Question. Match the following.

Chapter 4 Business Services

Codes

      A   B   C 
(a) (i) (ii) (iii)
(b) (i) (iii) (ii)
(c) (iii) (i) (ii)
(d) (ii) (i) (iii)

Answer : C

Question. In case of fire insurance policy, the insurer is liable to compensate for the loss only when the proximate cause of loss is fire.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : A

Question. State which of the following statements is false?
(a) Recurring deposit account is a time deposit account
(b) Number of transactions every month is limited in saving bank account
(c) A current account can be opened with an initial deposit of₹ 5,000
(d) Fixed deposit account is demand deposit account

Answer : D

Question. 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.
(a) Internet banking
(b) e-banking
(c) Tele-banking
(d) None of these

Answer : C

Question. The minimum period of deposit in case of recurring deposit account is ……… and maximum is ……… .
(a) 12 months, 2 years
(b) 6 months, 10 years
(c) 4 months, 1 year
(d) 8 months, 3 years

Answer : B

Question. When a property is insured by more than one insurance (i.e. in case of multiple insurance), the insurers are to share losses in what proportion?
(a) Ratio of premiums received
(b) Ratio of duration of insurance
(c) Ratio of amount insured
(d) Equal ratio

Answer : C

Question. 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 overcome  losses suffered by such circumstances, shipping companies opt for
(a) ship insurance
(b) hull insurance
(c) cargo insurance
(d) freight insurance

Answer : D

Question. ……. 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.
(a) Double insurance
(b) Hull insurance
(c) Reinsurance
(d) Burglary insurance

Answer : C

Question. 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?
(a) Credit card
(b) Debit card
(c) Prepaid card
(d) None of these

Answer : C

Question. There are services which are experienced differently by different customers. These kind of services depend upon customers preferences and demands and are known as
(a) Personal services
(b) Social services
(c) Business services
(d) Financial services

Answer : A

Question. ‘‘It is another type of digital payment method, in which ‘*99#’ can be used to carry out mobile transactions.’’ Which type of digital payment is described above?
(a) Unified Payment Interface (UPI)
(b) Unstructured Supplementary Service Data (USSD)
(c) Aadhaar Enabled Payment System (AEPS)
(d) None of the above

Answer : B

Question. Nitesh insured his factory for ₹ 5,00,000 against fire. Due to fire in his factory, he suffered a loss of stock worth ₹ 3,00,000. He is of the opinion that he  can recover the entire policy amount of ₹ 5,00,000 from the insurance company. Identify the relevant insurance principle in this regard.
(a) Subrogation
(b) Mitigation
(c) Indemnity
(d) None of these

Answer : C

Question. Joint life policy is taken up by a person for his/her children to meet the expenses of their education or marriage.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : B

Question. 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.
(a) Borrowing
(b) Bank overdraft
(c) Banker’s cheque
(d) None of these

Answer : B

Question. Match the following.

Chapter 4 Business Services_3

Codes
       A    B    C    D 
(a) (ii)  (iii) (iv)  (i)
(b) (iii)  (i)  (ii)  (iv)
(c) (iv)  (i)  (iii)  (iv)
(d) (i)   (ii)  (iv)  (iii)

Answer : A

Question. Anuj has taken a loan from Avi against the security of his factory. Can Avi take a fire insurance policy of that factory?
(a) No
(b) Yes
(c) Can’t say
(d) None of the above

Answer : A

Question. A electronic fund transfer system under which transfer of funds take place from one branch of bank to another branch on real time and on grow basis is know as
(a) NEFT
(b) EFT
(c) RTGS
(d) ATM

Answer : C

Question. In recurring deposit account, the depositor enjoys the liquidity of saving account and interest rate of fixed deposit account.
(a) True
(b) False
(c) Can’t say
(d) Partially true

Answer : B

Question. A cheque which is deposited only to the payee’s bank account is known as ……… .
(a) Bearers cheque
(b) Demand draft
(c) Crossed cheque
(d) None of these

Answer : C

Question. ‘‘The insured must have an interest in the subject matter of insurance’’.
Which principle of insurance is related to this statement?
(a) Principle of mitigation
(b) Principle of insurable interest
(c) Principle of proximate cause
(d) None of the above

Answer : B

Question. Which of the following is not a function of insurance?
(a) Risk sharing
(b) Assist in capital formation
(c) Lending of funds
(d) None of the above

Answer : C

Question. …… is a temporary arrangement under which a dpositor is allowed to draw by cheque more than the amount available to his credit upto a specified limit.
(a) Cash credit
(b) Term loan
(c) Bank overdraft
(d) Consumer credit

Answer : C

Question. 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 
(a) General insurance
(b) Life insurance
(c) Special insurance
(d) Burglary insurance

Answer : B

Chapter 06 Social Responsibilities of Business and Business Ethics
CBSE Class 11 Business Studies Social Responsibilities of Business and Business Ethics Worksheet

CBSE Class 11 Business Studies Chapter 4 Business Services Worksheet

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Worksheet for Business Studies CBSE Class 11 Chapter 4 Business Services

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Chapter 4 Business Services worksheet Business Studies CBSE Class 11

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Chapter 4 Business Services CBSE Class 11 Business Studies Worksheet

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Worksheet for CBSE Business Studies Class 11 Chapter 4 Business Services

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