Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 4 Business Services with Answers Pdf free download. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. We have provided Business Services Class 11 Business Studies MCQs Questions with Answers to help students understand the concept very well.

Business Services Class 11 MCQs Questions with Answers

Question 1.
CWC stands for_______.
(a) Central Water Commission
(b) Central Warehousing Commission
(c) Central Warehousing Corporation
(d) Central Water Corporation

Answer

Answer: (c) Central Warehousing Corporation


Question 2.
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

Answer: (b) Assist in capital formation


Question 3.
DTH services are provided by________.
(a) Transport companies
(b) Banks
(c) Cellular companies
(d) None of the above

Answer

Answer: (c) Cellular companies


Question 4.
The validity period of a demand draft is
(a) One month
(b) Two Months
(c) Three months
(d) Six Months

Answer

Answer: (c) Three months


Question 5.
DTH services are provided by
(a) Transport Company
(b) Banks
(c) Cellular Company
(d) None of these

Answer

Answer: (c) Cellular Company


Question 6.
Which of the following is an allied postal service-
(a) Greeting post
(b) Media post
(c) Speed post
(d) Passport Application

Answer

Answer: (c) Speed post


Question 7.
The functions of a commerce include
(a) acceptance of deposits
(b) granting of loans
(c) Locker facility
(d) all the above

Answer

Answer: (d) all the above


Question 8.
Time utility is created by
(a) Transportation
(b) Banking
(c) Warehousing
(d) Communication

Answer

Answer: (a) Transportation


Question 9.
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

Answer: (c) Indemnity contract


Question 10.
The benefits of public warehousing includes_______.
(a) Control
(b) Flexibility
(c) Dealer relationship
(d) None of the above

Answer

Answer: (b) Flexibility


Question 11.
It is not a type of general insurance
(a) Marine Insurance
(b) Fidelity Insurance
(c) Fire Insurance
(d) Life Insurance

Answer

Answer: (d) Life Insurance


Question 12.
What is the full form of WWW
(a) world wide width
(b) world wide work
(c) world wild web
(d) world wide web

Answer

Answer: (d) world wide web


Question 13.
Which is considered as the cheapest means of transportation
(a) Air
(b) Road
(c) Water
(d) Railway

Answer

Answer: (c) Water


Question 14.
Which of the following is a contract of Indemnity
(a) Marine Insurance
(b)Fire Insurance
(c) Life Insurance
(d) all the above

Answer

Answer: (b) Fire Insurance


Question 15.
Which is the central Bank of India
(a) Central Bank
(b)State Bank of India
(c) Bank of India
(d) Reserve Bank of India

Answer

Answer: (d) Reserve Bank of India


One Mark Questions

1. Give the meaning of‘Service’.

Answer

Answer: Anything which is done by a person to another person for consideration is called service.


2. State any two types of services.

Answer

Answer: (a) Business Services
(b) Social Services


3. What do you mean by e-banking?

Answer

Answer: Electronic banking refers to banking where the transaction or the activities of banking is carried out through internet.


4. Define Bank.

Answer

Answer: A bank is a financial institution licensed to receive deposits and make loans.


5. Expand MICR.

Answer

Answer: Magnetic ink character recognition


6. What is meant by EFT?

Answer

Answer: Electronic Funds Transfer (EFT) is a system of transferring money from one bank account directly to another without any paper money changing hands.


7. State any one marine risk.

Answer

Answer: Sinking in ship


8. Who is an Insured?

Answer

Answer: The person who obtains or is otherwise covered by insurance on his or her health, life, or property.


9. Name the act regulating banking business in India.

Answer

Answer: Banking regulatory Act 1949


10. Name any one type of Bank account.

Answer

Answer: Saving Bank Account


11. Name any one Banking service.

Answer

Answer: Bank Overdraft


12. Who is Insurer?

Answer

Answer: The person who undertakes to indemnify is called the insurer.


13. What is Insurance Policy?

Answer

Answer: The written document which contains the terms and conditions of the contract of insurance is called insurance policy.


14. State one type of Insurance.

Answer

Answer: Life insurance


15. Mention one type of Postal service.

Answer

Answer: Mail Facilities


16. Expand MODA.

Answer

Answer: Multiple Option Deposit Accounts


17. Expand NEFT.

Answer

Answer: National Electronic Funds Transfer


18. Expand MIS.

Answer

Answer: Monthly Income Scheme


19. Expand SCSS.

Answer

Answer: Senior Citizen Savings Scheme


20. Expand ATM.

Answer

Answer: Automated Teller Machine


21. Expand IMO.

Answer

Answer: Instant Money Order


22. Expand EPS.

Answer

Answer: Electronic Payment & Service


23. Expand EMO.

Answer

Answer: Electronic Money Order

24. Expand VAST

Answer

Answer: Very Small Aperture Terminal


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