Business Services (Prepared By Preksha Mehta)
6 Questions
| Attempts: 14
Try this quiz to test your understanding on the chapter Business Services.
Questions and Answers
- 1.
The principle of indemnity is not applicable to
- A.
Life insurance contract
- B.
Fire insurance contract
- C.
Marine insurance contract
- D.
None of the above
Correct Answer
A. Life insurance contract -
- 2.
The primary function of a bank is
- A.
Accepting deposits
- B.
Lending money
- C.
Both of the above
- D.
None of the above
Correct Answer
C. Both of the above -
- 3.
There is no minimum limit under Real Time Gross Settlement (RTGS) for transfer of funds.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The minimum amount for RTGS transactions is Rs.2 lakh.Rate this question:
-
- 4.
The full form of NEFT is ________
Correct Answer
National Electronic Funds Transfer - 5.
Banks are
- A.
Borrowers
- B.
Lenders
- C.
Both of the above
- D.
None of the above
Correct Answer
C. Both of the above -
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Current Version
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Mar 21, 2022Quiz Edited by
ProProfs Editorial Team -
Aug 06, 2020Quiz Created by
Prekshamehta89
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