Start learning →

Karnataka PUC I Business Services & Emerging Modes — practice questions

Explore 50 free Business Services & Emerging Modes questions in Karnataka PUC I Business Studies. Open each question or exercise to read its content, reference answers and available explanation.

Practise Business Services & Emerging Modes with Quill →

Business Services & Emerging Modes questions and exercises with answers

Showing questions 1–30 of 50.

Which of the following is a function of warehousing?Read the answer and worked solution →Letter of Credit is associated withRead the answer and worked solution →Insurance distributes risk based on the principle ofRead the answer and worked solution →You can seek advice from a doctor but cannot purchase him. This shows services are:Read the answer and worked solution →A physical product that can be delivered, with ownership passing to the buyer, is a:Read the answer and worked solution →Because different customers have different demands, services show:Read the answer and worked solution →Production and consumption of a service happen at the same time, which is called:Read the answer and worked solution →Services cannot be stored for future use, so they are:Read the answer and worked solution →The participation of the customer in the delivery process is the feature of:Read the answer and worked solution →Banking, insurance, transportation and warehousing used by firms are:Read the answer and worked solution →Health care and education provided voluntarily by NGOs to reach social goals are:Read the answer and worked solution →Tourism, recreation and restaurants, experienced differently by each customer, are:Read the answer and worked solution →Which Act governs commercial banks in India?Read the answer and worked solution →Banks in which the government holds a major stake are:Read the answer and worked solution →Banks governed by the State Cooperative Societies Act, giving cheap credit to members, are:Read the answer and worked solution →Foreign exchange banks, industrial banks and export-import banks are:Read the answer and worked solution →Which bank supervises and regulates all commercial banks of India?Read the answer and worked solution →Deposits that can be withdrawn at any time without prior notice are in a:Read the answer and worked solution →Time deposits carrying a higher rate of interest than savings accounts are:Read the answer and worked solution →A cheque that must be deposited only into the payee's account is a:Read the answer and worked solution →Transferring funds between places using bank drafts, pay orders or mail transfers is:Read the answer and worked solution →Banking done over the internet using a computer or mobile phone is:Read the answer and worked solution →Electronic funds transfer can be done two ways: NEFT and:Read the answer and worked solution →A benefit of e-banking for customers is service available:Read the answer and worked solution →Insurance works by spreading the loss caused by an uncertain event over:Read the answer and worked solution →Catch the five Is of servicesRead the answer and worked solution →Pop the bank typesRead the answer and worked solution →Run the service factsRead the answer and worked solution →Slice the services wordsRead the answer and worked solution →Good or serviceRead the answer and worked solution →

Worked practice questions

Which of the following is a function of warehousing?

  1. Selecting employees (typical)
  2. Lending money (typical) (typical)
  3. Setting prices (typical) (typical)
  4. Risk bearing through preservation
Show answer and solution

Correct answer: D. Risk bearing through preservation

1. Warehousing stores goods between production and consumption. 2. By preserving goods it bears risks of damage, theft and obsolescence. 3. Lending money is banking; pricing is marketing; selection is staffing. 4. Hence (A) is warehousing's core function. _Source: Maharashtra Balbharati Std XII OCM, Ch 5 "Business Services", §5.3 ¶§5.3_

Open this question →

Letter of Credit is associated with

  1. Banking and trade finance
  2. Postal services
  3. Stock exchange transactions
  4. Property registration
Show answer and solution

Correct answer: A. Banking and trade finance

1. A Letter of Credit (LC) is issued by a bank guaranteeing payment to a seller on fulfilment of conditions. 2. It is widely used in international trade to mitigate buyer-seller risk. 3. It belongs to banking and trade finance, not postal or stock exchange operations. 4. Hence (A) is correct. _Source: Maharashtra Balbharati Std XII OCM, Ch 5 "Business Services", §5.2 ¶§5.2_

Open this question →

Insurance distributes risk based on the principle of

  1. Caveat emptor (typical) (typical)
  2. Indemnity and pooling of risks
  3. Privity of contract (typical)
  4. Quantum meruit (typical)
Show answer and solution

Correct answer: B. Indemnity and pooling of risks

1. Insurance pools risk from many policyholders and pays from the pool when a covered loss occurs. 2. The insurer's promise is generally one of indemnity—restoring the insured's position without profit. 3. Other doctrines listed apply to sales, contracts and equitable remedies, not insurance pricing. 4. Hence (B) is correct. _Source: Maharashtra Balbharati Std XII OCM, Ch 5 "Business Services", §5.3 ¶§5.3_

Open this question →

How to practise

  1. Choose a Business Services & Emerging Modes question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

Put it into practice

Continue with Business Services & Emerging Modes practice for Karnataka PUC I. Read explanations as you go. No signup form needed to start.

Practise Business Services & Emerging Modes →

More Business Studies topics

Nature and Forms of Business OrganisationsSources of Business Finance & Small Business