Business Services Class 11 MCQ Business Studies are covered in this Article. Business Services Class 11 MCQ Test contains 65 questions. Answers to MCQs on Business Services Class 11 Business Studies are available after clicking on the answer. These MCQ have been made for Class 11 students to help check the concept you have learnt from detailed classroom sessions and application of your knowledge.
Business Services Class 11 MCQ Business Studies
Multiple Choice Questions
1.)For a layman, services are essential_________:
A) Intangible
B) Inconsistent
C) Inventory
D) Involvement
Answer
Answer: A) Intangible
2.)Services are intangibles means that:
A) Services have to be performed differently according to the demand of the customers
B) The production and consumption of services cannot be separated
C) Services cannot be stored for future use
D) Services cannot be touched or seen
Answer
Answer: D) Services cannot be touched or seen
3.)Customer’s involvement is necessary for providing a service. This is the _________of services:
A) Inconsistent feature
B) Involvement feature
C) Inseparable feature
D) Inventory feature
Answer
Answer: B) Involvement feature
4.)Goods are________and services are_________:
A) Homogeneous; heterogenous
B) Heterogenous; heterogenous
C) Homogenous; homogenous
D) Heterogenous; homogenous
Answer
Answer: A) Homogeneous; heterogenous
5.)How many types of services are there:
A) 4
B) 5
C) 3
D) 6
Answer
Answer: C) 3
6.)Baking and insurance comes under________type of service:
A) Business
B) Social
C) Personal
D) None of these
Answer
Answer: A) Business
7.)Social services are rendered to attain ________ goals:
A) Social
B) Business
C) Personal
D) None of these
Answer
Answer: A) Social
8.)Services provided by NGOs come under the category of _________services
A) Business
B) Personal
C) Social
D) None of these
Answer
Answer: C) Social
9.)Common function of a bank is:
A) To accept deposits
B) To lend money
C) Earning profit
D) All of these
Answer
Answer: D) All of these
10.)How many types of banks are there:
A) 7
B) 10
C) 5
D) 4
Answer
Answer: D) 4
Business Services Class 11 MCQ Business Studies
11.)Commercial banks are governed by:
A) The Indian Banking Regulation Act 1949
B) The Companies Act, 2013
C) The Indian Contract Act, 1872
D) The Indian Penal Code
Answer
Answer: A) The Indian Banking Regulation Act 1949
12.)Commercial banks can be categorized as:
A) Specialized bank and cooperative bank
B) Accepting deposits bank and lending money banks
C) Public sector bank and private sector bank
D) None of these
Answer
Answer: C) Public sector bank and private sector bank
13.)Cooperative banks are governed by:
A) The Indian Contract Act, 1872
B) The Indian Banking Regulation Act 1949
C) The Indian Penal Code
D) State Cooperative Societies Act
Answer
Answer: D) State Cooperative Societies Act
14.)__________bank is an important source of agricultural financing in India:
A) Commercial
B) Central
C) Specialised
D) Cooperative
Answer
Answer: D) Cooperative
15.)Banks that provide financial aid to foreign trade:
A) Specialised banks
B) Central banks
C) Commercial banks
D) Cooperative banks
Answer
Answer: A) Specialised bank
16.)The central bank of India is:
A) Reserve Bank of India
B) State Bank of India
C) Punjab National Bank
D) Dena Bank
Answer
Answer: A) Reserve Bank of India
17.)A bank that controls and supervises the activities of a commercial bank is:
A) Specialised bank
B) Cooperative bank
C) Central bank
D) None of these
Answer
Answer: C) Central bank
18.)Which of the following is a function of a bank:
A) Allied services
B) Remittance of funds
C) Cheque facility
D) All of these
Answer
Answer: D) All of these
19.)Cheques that are encashable immediately at bank counters are:
A) Bearer cheque
B) Crossed cheques
C) Deposited cheques
D) All of these
Answer
Answer: A) Bearer cheque
20.)Crossed cheques are deposited only in the______account:
A) Bearer’s
B) Payee’s
C) Depositor’s
D) All of these
Answer
Answer: B) Payee’s
21.) Which among the following is an allied service provided by a bank:
A) Transportation
B) Locker facility
C) Warehousing
D) Communication facility
Answer
Answer: B) Locker facility
22.)Services provided by the bank on the internet are called________:
A) e-Banking
B) Effective banking
C) Cloud banking
D) None of these
Answer
Answer: A) e-banking
23.)The full form of e-Banking is:
A) Electronic banking
B) Internet banking
C) Effective banking
D) Efficient banking
Answer
Answer: A) Electronic Banking
24.)Two ways in which Electronic fund transfer can be done are:
A) NEFT and PFT
B) PFT and NFT
C) NEFT and RTGS
D) RTGS and NFT
Answer
Answer: C) NEFT and RTGS
25.)Which of these is a benefit derived from e-Banking:
A) Facilitates digital payments and promotes transparency in financial statements
B) Provides services to the customers anytime they want
C) It inculcates a sense of financial discipline by recording each and every transaction
D) All of these
Answer
Answer: D) All of these
Business Services Class 11 MCQ Business Studies
26.) Why is there a need of insurance:
A) Because everybody does it
B) Because it provides profits to the insurance industry
C) Because it minimises the impact of any kind of uncertainties
D) None of these
Answer
Answer: C) Because it minimizes the impact of any kind of uncertainties
27.)The contract in writing while getting an insurance is called:
A) Insurance contract
B) Agreement
C) Insurance documents
D) Policy
Answer
Answer: D) Policy
28.)The small periodic payment in an insurance are________:
A) Installments
B) Investments
C) Premium
D) All of these
Answer
Answer: C) Premium
29.)Which of the following is not a function of insurance:
A) Lends money
B) Assist in capital formation
C) Risk sharing
D) Protection
Answer
Answer: A) Lends Money
30.)How many types of insurance are there:
A) 5
B) 4
C) 2
D) 1
Answer
Answer: C) 2
31) Which principle of insurance is not applicable for life insurance?
A) Principle of indemnity
B) Principle of Utmost good faith
C) Both a and b
D) None of these
Answer
Answer: A) Principle of indemnity
32.)__________services are helpful to the business for establishing links with the outside world:
A) Warehousing
B) Banking
C) Insurance
D) Communication
Answer
Answer: D) Communication
33.)An effective communication is _________,_________and________:
A) Efficient; accurate; fast
B) Accurate; elaborate; fast
C) Slow; accurate; efficient
D) None of these
Answer
Answer: A) Efficient; accurate; fast
34.)Communication services are further classified into:
A) Postal and communication
B) Telegraph and communication
C) Postal and telecom
D) Telecom and communication
Answer
Answer: C) Postal and telecom
35.)Full for of PPF is:
A) Profit Provident Fund
B) Public Provident Fund
C) Postal Provident Fund
D) Public Portal Fund
Answer
Answer: B) Public Provident Fund
36.)Insurance removes the uncertainties which causes loss and the assured receives payment of loss, which feature of insurance is this:
A) Protection
B) Risk sharing
C) Providing certainty
D) None of these
Answer
Answer: C) Providing certainty
37.)Which of the following is a principle of insurance:
A) Utmost good faith
B) Indemnity
C) Proximate cause
D) All of the above
Answer
Answer: D) All of these
38.)The insured must have an_________ in the subject matter of insurance:
A) Ownership
B) Insurable interest
C) Possession
D) Property
Answer
Answer: B) Insurable interest
39.)DTH services are provided by:
A) Cellular companies
B) Postal companies
C) Entertainment company
D) Banks
Answer
Answer: A) Cellular companies
40.)Which of the following is not a type of general insurance:
A) Fire insurance
B) Cargo insurance
C) Freight insurance
D) Life insurance
Answer
Answer: D) Life insurance
Business Services Class 11 MCQ Business Studies
41.)Which of the following insurances are contract of indemnity:
A) Life insurance
B) Fire insurance
C) Marine insurance
D) Both B and C
Answer
Answer: D) Both B and C
42.)A person who undertakes to indemnify is called:
A) Insurer
B) Insured
C) Middlemen
D) Agent
Answer
Answer: A) Insurer
43.)In which type of insurance risk is not measurable:
A) Fire insurance
B) Marine insurance
C) Life insurance
D) All of these
Answer
Answer: C) Life insurance
44.)In which type of insurance there is no fixed limit on the amount of insurance:
A) Freight insurance
B) Life insurance
C) Cargo insurance
D) Fire insurance
Answer
Answer: B) Life insurance
45.)Media post is facilitated by:
A) Postal services
B) Telecom services
C) Banking services
D) DTH services
Answer
Answer: A) Postal services
46.)Full form of DTH is:
A) Direct to Home
B) Displayed to Home
C) Displayed to Houses
D) None of these
Answer
Answer: A) Direct to Home
47.)How many types of warehouses are there:
A) 1
B) 5
C) 3
D) 10
Answer
Answer: B) 5
48.)Warehouses that are licensed by the government to keep imported goods prior to the payment of taxes and custom duty are:
A) Government warehouses
B) Private warehouses
C) Bonded warehouses
D) Cooperative houses
Answer
Answer: C) Bonded warehouses
49.)The function in which the warehouse receives and consolidates goods from different plants and dispatches them to a single person is:
A) Consolidation
B) Stock pilling
C) Value added services
D) Price stabilization
Answer
Answer: A) Consolidation
50.)The function of warehousing in which the bulk quantity is divided into smaller quantities is:
A) Stock pilling
B) Break the bulk
C) Consolidation
D) Value added services
Answer
Answer: B) Break the bulk
51.)Wheat is harvested in the month of spring and is stored in the warehouses to be used for the whole year, which function of warehouse apply here:
A) Consolidation
B) Price stabilization
C) Value added services
D) Stock pilling
Answer
Answer: D) Stockpiling
52.)Which of the following is not a function of warehouses:
A) Price stabilization
B) Consolidation
C) Financing
D) Equilibrium
Answer
Answer: D) Equilibrium
53.)How many functions of warehouses are there:
A) 3
B) 4
C) 8
D) 6
Answer
Answer: D) 6
54.)Warehouses that are owned, managed and controlled by a company comes under the category of:
A) Public warehouses
B) Private warehouses
C) Cooperative warehouses
D) Bonded warehouses
Answer
Answer: B) Private warehouses
55.)Full form VSAT is:
A) Very Small Aperture Terminal
B) Virtual Small Aperture Terminal
C) Very Small Aptitude Terminal
D) Very Small Aptitude Transport
Answer
Answer: A) Very Small Aperture Terminal
56.)Services including voice and non-voice messages and data services to establish linkages for long distance traffic are _________type of telecom services:
A) VSAT
B) Fixed line
C) Cellular mobile
D) DTH
Answer
Answer: B) Fixed line
57.)Telecom services that have a license to operate within a specified area:
A) Cellular mobile services
B) DTH services
C) Fixed line services
D) Cable services
Answer
Answer: D) Cable services
58.)Major facilities provided by postal services are:
A) Financial facilities
B) Mail facilities
C) Communication facilities
D) Both A and B
Answer
Answer: D) Both A and B
59.)Parcel facilities are included in:
A) Mail Facilities
B) Financial facilities
C) Communication facilities
D) All of these
Answer
Answer: A) Mail facilities
60.)For providing postal services, India is divided into_____postal circles:
A) 30
B) 35
C) 10
D) 22
Answer
Answer: D) 22
61.)Policy beneficial for people prefer a regular income after a certain age is:
A) Whole life policy
B) Joint life policy
C) Endowment life assurance policy
D) Annuity policy
Answer
Answer: D) Annuity policy
62.)Policy taken by individuals for their children’s marriage or education expenses are:
A) Children’ endowment policy
B) Whole life policy
C) Endowment life assurance policy
D) Annuity policy
Answer
Answer: A) Children’ endowment policy
63.)The policy in which the amount is payable to the legal heir of the insured after his death is:
A) Whole life policy
B) Annuity policy
C) Joint life policy
D) Endowment life assurance policy
Answer
Answer: D) Endowment life assurance policy
64)The principle in which it is the duty of the insured to take steps for minimising the loss to the insured property is:
A) Subrogation
B) Mitigation
C) Contribution
D) Proximate cause
Answer
Answer: B) Mitigation
65.)In case of double insurance, the insurers are to share the losses in proportion to the amount assured by each of them. Which principle of insurance is this?
A) Proximate Cause
B) Mitigation
C) Contribution
D) Subrogation
Answer
Answer: C) Contribution
Class 11 Business Studies MCQs
Term 1 – MCQ of Business Studies Class 11
Part A – Foundations of Business
- Evolution and Fundamentals of Business
- Forms of Business Organisations
- Public, Private and Global Enterprises
- Business Services
- Emerging Modes of Business
- Social Responsibility of Business and Business Ethics
Term 2 – NCERT Business Studies MCQ
Part B – Finance and Trade