Practice Test

Q1) Overdraft facility is given to _________. Show Answer

Q2) The account suitable for creating a saving habit is _______. Show Answer

Q3) There is no limit on the frequency of withdrawals from a ________. Show Answer

Q4) A principle of utmost good faith is applicable to _______. Show Answer

Q5) Principles of indemnity is not applicable to _____. Show Answer

Q6) Insurable interest must exist in _______. Show Answer

Q7) Bonded warehouses are located at _______. Show Answer

Q8) Perishable goods are stored in _______. Show Answer

Q9) Postal services are administered by _______. Show Answer

Q10) In case of urgency and to avoid delays ______ is sent. Show Answer

Q11) In India railways are owned and managed by ________. Show Answer

Q12) Door to door service is offered by ________. Show Answer

Q13) The costliest means of transport is ________. Show Answer

Q14) Road transport is suitable for _______ distance. Show Answer

Q15) No interest is paid to ________ account holder. Show Answer

Q16) Interest paid at the highest rate on deposits in ______ account. Show Answer

Q17) ______ account is suitable to middle class people for deposit small savings. Show Answer

Q18) ______ generally operate current account with the bank. Show Answer

Q19) A record of business transactions of a customer is found in the _______. Show Answer

Q20) ______ bank is the lenders of the last resort. Show Answer

Q21) An arrangement with the bank by which a customer is allowed to borrow upto an agreed amount in excess of the balance in the current account for an agreed period is called ______ facility. Show Answer

Q22) ______ is the monopoly of Note issue, in India. Show Answer

Q23) Fire insurance is a contract of _______. Show Answer

Q24) Policy covering goods at different places of different goods _______. Show Answer

Q25) Insurance contract begins as soon as ______. Show Answer

Q26) Marine insurance covers risks due to _______. Show Answer

Q27) Life insurance is taken for _______ risks. Show Answer

Q28) Marine insurance policies are issued for the goods _______. Show Answer

Q29) A policy which covers definite risks is called _______. Show Answer

Q30) A life insurance issued in the names of two persons is called ______ policy. Show Answer

Q31) Life insurance is contract of _______. Show Answer

Q32) Whole life policy is useful to _______. Show Answer

Q33) The warehouse run by the Government is called _______ warehouse. Show Answer

Q34) Warehouses owned by traders for their own goods are called _______. Show Answer

Q35) ______ Warehouses work under the supervision of customs authority. Show Answer

Q36) Warehousing ______ the supply of goods in the market. Show Answer

Q37) ______ Warehouses allow the payments of customs duties to be paid later. Show Answer

Q38) Home delivery of goods is provided by ______. Show Answer

Q39) Railway are owned and managed by ________. Show Answer

Q40) Air transport is suitable for carrying _______. Show Answer

Q41) ______ are very much affected by weather conditions. Show Answer

Q42) Transport creates _______ utility. Show Answer

Q43) ______ is the cheapest mode of transport. Show Answer

Q44) It is _______ as it can be changed. Show Answer

Q45) Railway transport is _______ because rates of carriage and ticket fares are very reasonable. Show Answer

Q46) Central bank cannot accept deposit from the public. Show Answer

Q47) Overdraft facility is given to saving account holders. Show Answer

Q48) Current account is suitable for salaried people. Show Answer

Q49) The principles of indemnity apply to life insurance. Show Answer

Q50) Insured must have insurable interest in the subject matter at the time of taking the policy. Show Answer

Q51) An individual must always tries to minimize the loss by fire as far as possible. Show Answer

Q52) Duty paid warehouses helps to provide storage for perishable commodities. Show Answer

Q53) Private warehouses are used only by its owners. Show Answer

Q54) A post office provides money remittance services. Show Answer

Q55) E-payment facility is not available to general public. Show Answer

Q56) Air transport is suitable for short distances. Show Answer

Q57) Transport helps in raising standard of living. Show Answer

Q58) Water transport is the costliest means of transport. Show Answer

Q59) Rail transport provides door to door services. Show Answer

Q60) Bank overdraft facility is a long term facility. Show Answer

Q61) Cash credit facility is provided by the banks to provide working capital requirement. Show Answer

Q62) Commercial banks grant long term loans only. Show Answer

Q63) Insurance means protection against possible risk of loss. Show Answer

Q64) All insurance contracts are contracts of indemnity. Show Answer

Q65) Insurance claim can never be rejected by the insurance company. Show Answer

Q66) Warehousing creates only place utility. Show Answer

Q67) Cold storage is necessary for perishable goods. Show Answer

Q68) Duty paid warehouses is privately owned. Show Answer

Q69) Private warehouses are not available to general public. Show Answer

Q70) Banks do not accept warehouse receipt as collateral security for financing loans or advances. Show Answer

Q71) An importer takes possession of goods only after payment of duty from the bonded warehouses. Show Answer

Q72) Door to door service is provided by _______ transport. Show Answer

Q73) ________ creates time utility. Show Answer

Q74) __________ warehouses provide facilities for perishable commodities Show Answer

Q75) _______ policy covers all types of risks of a vessel while it is anchored at the port for a particular period of time. Show Answer

Q76) Principle of _____ is not applicable to life insurance Show Answer

Q77) Services are _______ by nature. Show Answer

Q78) Services are ________. Show Answer

Q79) All services are _________ in nature Show Answer

Q80) RBI was established in _________. Show Answer

Q81) The main aim of co-operative bank is to provide credit to _______. Show Answer

Q82) Primary Credit Co-operative Society works at _______ level. Show Answer

Q83) Regional Rural Banks were established in _______. Show Answer

Q84) Banks provide financial and advisory assistance to their _______. Show Answer

Q85) SIDBI was set up on _______. Show Answer

Q86) The primary functions of commercial banks are known as _________ banking functions Show Answer

Q87) _______ deposits are repaid to the customers after the expiry of decided time. Show Answer

Q88) The main aim of ______ account is to encourage habit of saving among the people Show Answer

Q89) _______ account is operated by business firms and other commercial organizations. Show Answer

Q90) _______ facility is available for only current account holders to meet their working capital requirements Show Answer

Q91) Handling of securities is known as _______ management Show Answer

Q92) The bank provide locker facility for the safe custody of _______. Show Answer

Q93) A commercial bank may _______ the issue of securities issued by the companies. Show Answer

Q94) Credit card offers convenience to _________. Show Answer

Q95) Most of the banks offer ______card as soon as account is opened by customer. Show Answer

Q96) Mobile banking refers to the use of banking services with the help of _______. Show Answer

Q97) Insured is known as _______ in case of life insurance contracts Show Answer

Q98) Insurable interest is applicable to ________ insurance contracts. Show Answer

Q99) Principle of indemnity is not applicable to ______ insurance. Show Answer

Q100) __________ is a form of insurance contract covering loss or damage to vessels or to passengers Show Answer

Q101) A time policy cannot be for a period exceeding _______ year. Show Answer

Q102) Under ______ policy, goods are insured for an agreed value between the insurer and insured at the time of taking policy. Show Answer

Q103) The liability of each insurer is separate and distinct under _______ policy. Show Answer

Q104) Under _______ policy several ships belonging to one owner are insured under the same policy. Show Answer

Q105) ______ policy can be taken for the goods which are lying at different locations or godowns or warehouses. Show Answer

Q106) ________ transport is most dependable mode of transport to carry goods and passengers over long distance. Show Answer

Q107) _______ transport is the fastest mode of transport. Show Answer

Q108) ________ transport is relatively expensive mode of transport. Show Answer

Q109) _________ transport is subject to perils of sea. Show Answer

Q110) ________ warehouses are owned and operated by big manufacturers and merchants to fulfill their own storage needs. Show Answer

Q111) ________ warehouse is a specialized business establishment that provides storage facilities to the general public for a certain charge. Show Answer

Q112) ________ warehouse work under the control of the custom authorities Show Answer

Q113) Goods can be stored at a ______ warehouse after making payment of duty Show Answer

Q114) _______ warehouse provide facilities for perishable commodities Show Answer

Q115) _______ is the global system of interconnected computer networks that use the internet Protocol suited to link devices world wide. Show Answer

Q116) _________ is a method of exchanging mail between people using electronic devices Show Answer

Q117) All duty paid warehouses are _________ warehouses which are available to all importers Show Answer

Q118) Bank provides ________ facilities to their clients to their securities in an electronic format Show Answer

Q119) Insured must always try to maximize the loss of the property, in case of uncertain events under the principle of ________. Show Answer

Q120) Business services are important for the growth of business. Show Answer

Q121) Current Account is opened by salaried persons. Show Answer

Q122) NEFT stands for National Electric Fund Transfer Show Answer

Q123) Air transport is cheapest mode of transport. Show Answer

Q124) The Internet is the global system of interconnected computer networks that use the internet protocol suite to link devices worldwide. Show Answer

Q125) Business Services are tangible in nature. Show Answer

Q126) Business Services are heterogenous. Show Answer

Q127) All services are non-transferable in nature. Show Answer

Q128) The term Bank comes from the Latin word ‘Banco’ which means a ‘Bench’ Show Answer

Q129) Commercial bank is the apex financial institution in banking industry in the country Show Answer

Q130) Central Bank acts as a banker’s bank. Show Answer

Q131) Primary Credit Co-operative Society works at District level. Show Answer

Q132) SIDBI acts as the principal financial institution for promoting, financing and development of MSME. Show Answer

Q133) NABARD is an apex institution for financing agricultural and rural sector. Show Answer

Q134) The primary functions of central bank are known as core banking function Show Answer

Q135) Saving account is opened to encourage saving habits among the business people Show Answer

Q136) Fixed Deposit holders get fluctuating interest rates. Show Answer

Q137) Overdraft facility is available to current account holders. Show Answer

Q138) Short term loans are for the period upto 3 years to meet working capital requirements. Show Answer

Q139) Banks provide dematerialization facilities to their clients to hold their securities in electronic format Show Answer

Q140) Central bank may underwrite the issue of securities issued by the companies Show Answer

Q141) Credit card offers convenience to customers as they need not carry cash. Show Answer

Q142) RTGS stands for Real Time Great Settlement. Show Answer

Q143) IMPS stands for Immediate Payment Services. Show Answer

Q144) Insurable Interest is applicable to all insurance contracts Show Answer

Q145) In all types of Insurance contracts both the parties must have utmost good faith towards each other Show Answer

Q146) Term insurance policy is taken for a specific period with lowest premium. Show Answer

Q147) Under voyage policy, subject matter is insured for a definite period of time Show Answer

Q148) Average policy can be taken for art work, sculpture, paintings, etc Show Answer

Q149) The consequential loss policy includes the loss of tangible and intangible properties Show Answer

Q150) Road transport is flexible mode of transport. Show Answer

Q151) Road transport is a convenient mode of transport for travelling long distances. Show Answer

Q152) Air transport is affected by adverse weather conditions Show Answer

Q153) Huge investments are required for Air transport. Show Answer

Q154) Water transport is subject to perils of sea. Show Answer

Q155) Metro rail is a railway in which the track consists of a single rail or a beam Show Answer

Q156) Warehouses play an important role in the process of price stabilization. Show Answer

Q157) Co-operative warehouses are owned, managed and controlled by big business houses. Show Answer

Q158) Bonded warehouse provides facility for perishable commodities. Show Answer

Q159) Printed books, magazines, journals, etc can be sent through book post. Show Answer

Q160) Electronic mail (E-mail) is a method of exchanging mail between people using electronic devices. Show Answer

Q161) Courier service is usually less expensive than usual mail services. Show Answer

Q162) India post has set up business post centre in major cities specially to handle business post consignment. Show Answer

Q163) _ _ _ _ _ _ term loans are for a period of 1 year to 5 years. Show Answer

Q164) Government warehouses work under the control of custom authorities. Show Answer

Q165) The Post Office sells application forms under Retail Post. Show Answer

Q166) The production and consumption of services can be separated. Show Answer

Q167) HDFC Bank is a foreign bank Show Answer

Q168) Investment banks facilitate mergers and acquisitions. Show Answer

Q169) In India, co-operative banks are regulated under Banking regulation Act. Show Answer

Q170) Generally, investment banks do not directly deal with general public. Show Answer

Q171) Payment banks can issue loan and credit cards to only select customers. Show Answer

Q172) Banks can issue loan against fixed deposit receipt (FDR) as security. Show Answer

Q173) Cash credit facility is provided to current account and savings account holders. Show Answer

Q174) Project reports enable a business firm to obtain funds from the market and to obtain clearance from government authorities. Show Answer

Q175) Insurer is known as assurer in case of life insurance contracts. Show Answer

Q176) Money-back Policies combine the benefits of life insurance policies and mutual funds. Show Answer

Q177) Consequential Loss Policy is a type of marine insurance policy. Show Answer

Q178) Bus Rapid Transport (BRT) systems are yet to be introduced in India. Show Answer

Q179) Ropeway connects two places on the hills or across a valley. Show Answer

Q180) Long distance pipeline networks are used for sewage, slurry or water. Show Answer

Q181) Loans can be raised from the warehouse keeper against the goods Show Answer

Q182) Bonded warehouses are located near the junctions of railways, highways and waterways. Show Answer

Q183) On an average, a Post Office serves an area of 21.56 Sq. Km and population of 7753 people. Show Answer

Q184) Logistics Post is one of the Money Remittance Services. Show Answer

Q185) Linder international money transfer, only inward remittances are permissible. Show Answer

Q186) Courier services are cheaper than usual mail services. Show Answer

Q187) The term Bank comes from the _______ word 'Banco' which means a 'bench', Show Answer

Q188) The capital of RRBs contributed by Central Government is _______ Show Answer

Q189) Payment Bank can accept demand deposits only upto Rs._______ Show Answer

Q190) A.T.M stands for _______ Show Answer

Q191) The minimum amount to be remitted through RTGS is Rs._______ while there is no upper limit for transactions. Show Answer

Q192) The statement of contract between the insured and insurer is called Show Answer

Q193) Principle of _______ is not aplicable to life insurance. Show Answer

Q194) _______ policy covers all types of risks of a vessel while it is anchored at the port for a particular period of time. Show Answer

Q195) The _______ policy covers the loss of tangible and intangible properties. Show Answer

Q196) _______ transport is classified into domestic and international transport Show Answer

Q197) _______ are more useful for re-export of the Roods. Show Answer

Q198) Postal services are administered by _______ Show Answer

Q199) The Department of Posts has a network of _______ Post Offices. Show Answer

Q200) Printed books, maeazines, journals etc. can be sent throurh _______ Show Answer

Q201) _______ is a combination of electronic transmission and physical delivery, Show Answer

Q202) _______ is a modern means of communication. Show Answer