Business services

Q:1 Gaurvi has decided to set up a dairy food processing unit in Gwalior.While working on her plan,she realized
very soon that a business enterprise is greatly dependent on specialized business services.Explain briefly any two
such specialized business services

BANKING
Q:2 Name the cheque a) which is immediately encashed at the counter of bank b) which is deposited in the
account of payee.
Q:3Why are banks called debtors as well as creditors?
Q:4 Which bank is known as ‘Apex Bank of india.?
Q:5 Name the bank account
a) in which excess of a particular limit gets automatically transferred to a fixed deposit account.
b) the account against which overdraft facility can be availed.
c) account which is beneficial to encourage small savings regularly .

Q:6 Rahul’s father wants to save Rs1,00,000 today so that he can gift the money to Rahul on his graduation
day.Which type of deposit should he open with bank.

Q:7 Sagar and Lakshay are friends.Sagar is a businessman who deals in buying and selling computer parts
whereas Lakshay is working as a manager in ICICI Bank.Sagar deals with a lot of customers daily and receives
money from them as his transactions are mostly on cash basis.As it becomes difficult for him to manage cash
daily,his friend Lakshay advised him to open a bank account in ICICI Bank.
a) Name and explain the type of bank Account which will be opened by Sagar in ICICI Bank.
b) Which two other types of A/C’s can be opened in banks?

Q:8 Which type of deposit account combines the features of Savings Bank account and Fixed deposit Account?

Q:9‘Dhanwan Bank’ is a popular private sector bank offering varied services to its customers . It offers many
types of bank accounts options to its customers . Farhan being a businessman has chosen the type of account in
which deposits are the most liquid and there are no limits to the number of transactions in a day. On the other
hand , his mother has opened a type of account where she can conveniently deposit the money she saves. These
accounts provide cheque facility and offer lot of flexibility for deposits and withdrawal of funds from the account
Farhan also expressed his desire to open an account wherein he will deposit Rs 1000 every month for the next 2
years. In context of the above case: (a) By quoting lines from the paragraph identify the various types of bank
accounts being used by Farhan and his family members. (b) Describe briefly any two other types of accounts that
are also offered by a bank but have been mentioned in the above paragraph.

Q:10Aprajita Kumar has around 20,00,000 balance in her savings bank account. She earns well and is not a big
spender, so she routinely ends up with surplus money at the end of the month. She is aware that she should invest
the money, but is unable to make up her mind on where to invest it. Expectedly, she is very confused because of
the various options before her.Her close friend Shika Sharma a banking official advised her to maintain an
account which is a combination of transactional (debit) account and deposit account. She told Aprajita that this is
a time deposits wherein the rate of interest is better and at the time of need for funds, withdrawals can be made
from the deposits by issuing a cheque from savings bank account or from ATM/branch or through any other
channel. The sum of available balance in the transactional account and deposit balance can be used for issuing
cheques or withdrawal or making any other payment. Finally, Aprajita Kumar is able to make up her mind to
shift to the account advised by Shika Sharma.Identify and explain the type of banking account advised by Shika
Sharma to Aprajita Kumar.

Q:11 Identify the types of bank accounts being highlighted in following situations:
(a) This account can be opened by any limited company. Payments can be made in the account unlimited number
of times. Funds can be remitted from any part of the country to the corresponding account. Overdraft facility
Internet banking facility are available. and
(b) It is a kind of account in which two free cheque books will be issued each year. Internet banking facility will
be provided without any charge. Balance enquiry, NEFT, bill payment, mobile recharge, etc., are provided
through mobile phones. Students can open this account with zero balance by providing the required documents.

(c) Any resident is eligible to open this account in single/joint names. The account can be opened for any period
ranging from 6 months to 120 months for monthly installment. The amount selected for installment at the start of
the scheme is payable every month and the number of installments once fixed, cannot be changed. The rate of
interest is compounded quarterly and the final amount is paid on maturity.

(d) A kind of deposit scheme introduced by different banks, where the excess amount in the savings bank
account is transferred to fixed deposit account and the account holder earns more rate of interest In short, it gives
the account holder the interest of a term deposit with the flexibility of withdrawal, whereas, the remaining cash
will get better interest.
BANKING SERVICES
Q:12 Akash Juneja, a businessman is involved in daily dealings of cash through his current account in Axis bank.
Due to unavailability of funds and an urgent need to pay to his creditors, he approaches the bank to withdraw
more than the balance available in his account, using the facility provided to him by the bank owing to his
creditworthiness. Identify the facility provided by the Commercial Bank to Akash.
Q:13 Give the name of facility that are generally given by banks to the business firms for meeting their short
term requirements of funds

Q:14 YES Bank has developed unique product proposition extending the entire benefit of the advancement in the
payments landscape to the customer's desktop by pioneering the introduction of the payments on the web. The
platform provides online confirmation along with instant settlement for payments making cash flow forecasting
easier and precise to the last minute.State the type of banking services highlighted in aforesaid case by quoting
the lines from the same.

Q:15 State the service which allows the customer to get connected to the bank via bank’s website.What are the
range of services offered by banks under the category identified above..

Q:16 Discuss any three ways in which e-banking can be conducted.

Q:17 Rohan transferred his college fee at 11.30 pm from his laptop.How could he do so.
Q:18 Give two functions of e-banking.Also state its merits.
Q:19 Ramesh is a software professional working in a software development company located at Hyderabad. He
has a saving bank account with the State Bank of India but he has not opted for e-Banking. His family members
are residing in Delhi. Ramesh's father asked him to send 4,50,000 at the earliest. His father has a saving bank
account with Bank of Baroda.Explain Ramesh the method he should adopt for sending money as early as
possible.
Q:20 Shenoy is a software professional working in a software development company located at Hyderabad.He
has a saving bank account with the State Bank of India but he has not opted for e-banking.His family members
are residing in Delhi.Shenoy’s father asked him to send Rs 45,000 at the earliest.His father has a saving bank
account with Punjab National Bank.Name the method Shenoy should adopt for sending money.

Q:21 Nakul is running a business of manufacturing invertors in Delhi.He has received an order for supply of 20
invertors from Better Electronics in Jaipur.As the amount of payment is more than Rs 2 lakhs,Better Electronics
decided to transfer the funds electronically from their bank account.
a)Which service of bank has been has been referred to in the above para.Name and explain it.
b)Also explain any 3 points related to benefits of e-banking provided to customers by banks.

Q:22 Jay owns an event management company in Jaisamalar which provides customized facilities to meet the
needs of the customers and ensure a memorable event for them whether they are planning a workshop , a
management seminar , marketing or training session . He has a staff of 50 persons . Earlier the salary of the staff
members was paid through cheques . the employees had to deposit their cheque in the bank and had to wait for a
few days for cheques to be cleared. But now the salary reaches their account on the same day itself with the help
of a particular banking service. In context of the above case: (i) What is a cheque? (ii) How is a cheque different
from a bank draft? (iii) Name the banking service which facilitates the transfer of salary to the employees
account on the same day itself.
Q: 23 Over the years internet has revolutionized our lives. One of the significant utility of the internet is in the
banking sector . It has paved way for innumerable new e- banking opportunities to the advantage of both the
business and their customers. In context of the above case: (a) What is banking over internet known as? (b) State
any four advantages of banking over internet.

Q: 24Briefly explain NEFT as banking service.

INSURANCE
Q: 25 Life is full of uncertainities and to stress upon the importance of insurance,Bajaj Allianz Life Insurance
has carried out an insurance awareness roadshow called ‘Jan Jagariti’ across different rural locations of
Maharashtra,Goa and Gujarat.Subrat Mohanty,head of marketing,Bajaj Allianz Life Insurance ,said this was a
campaign wherein a vehicle equipped with service support materials and representatives goes out to places and a
group of artists perform a street play in the local language.The local people were made aware that on payment of
a small periodic payment,a large possible risk can be covered.Insurance cannot stop the happening of a risk or
event but can compensate for losses arising out of it.Also the loss is shared by all persons exposed to it.
a) The above para highlights certain functions of insurance.Identify them by quoting lines.
b) Also name and explain any other function of insurance not highlighted above.

Q:26 Rekha Garments Ltd has a loan of Rs 25,00,000 to pay.They are short of funds so they are trying to find
means to arrange funds.Their manager suggested to claim from insurance company against stock lost due to fire
in the warehouse.He actually meant that they can put their warehouse on fire and claim from insurance company
against stock insured.They can use claim money to pay the loan.Will the company receive claim if surveyor from
insurance company comes to know the real cause of fire.
Q:27 Gauri took an insurance policy for her home without disclosing that the home is being used to house a
catering business. After few months a gas cylinder explosion , caused major damage to her property.
Consequently, she filed a claim against the insurance company for compensation of loss. On investigating the
matter , the insurance company, discovered about the commercial use of the home and reused to pay any claims .
Identify and explain the principle of insurance which has been violated in the above case

Q:28 A factory owner took a fire insurance policy for his factory without informing the insurance company that
he received notice from electricity department to get the wiring of the factory repaired.After six months of taking
policy the factory caught fire due to faulty wiring.Will the factory owner get compensation for the loss due to
fire?Which principle of insurance is related with this case?Explain.

Q:29 A firm gets its goods insured against the perils of fire without informing the insurance company about the
full details of the goods stored in its godown. This led the insurance company to assess lower degree of risk and
charge lower fire insurance premium though the firm was under duty to disclose that materials stored also
included petroleum products which are exposed to higher degree of risk. After fire, the firm filed a claim which
was refused by the insurance company. a Identify the principle of insurance violated by the company. b Do you
feel that the insurance contract is valid? c Is the insurance company justified in refusing the claim?
Q:30 Aman mortgaged his factory against a bank loan.Can bank insure the factory against fire.
Q:31 Shubham has taken a loan from Saurabh against the security of his factory.Can Saurabh take a fire
insurance policy of that factory?
Q:32 Mr Rajiv took an insurance Policy against his car and after three months he sold it to Mr. Kailash.The car
was stolen from outside of Mr. Kailash’s house.Mr. Rajiv made a claim to insurance company.His claim was
rejected on the ground that Mr. Rajiv was no longer owner of the car,so he has no insurable interest and he has
no financial loss with the loss of the car.
1) What does Principle of Insurable Interest State?
2) Was Mr. Rajiv right in making claim?
3) Who should get the compensation?
Q:33 A husband took the life insurance policy of his wife.After one year the couple got divorced and later on
after two years the wife died.Will husband get compensation from the insurance company?
Q:34Shenoy took an insurance policy for his car.Within a year he sold the car to his nephew Agam.The car got
stolen.Shenoy filed an insurance claim on Insurance company.Company refused the claim,saying that Shenoy is
not the owner of the car.Identify the principle on the basis of which company refused the claim.
Q:35Ajit is the owner of the taxi cab and he gets it insured because he is getting income from it . But if he sells
it, he will not have any concern left in that taxicab. Identify and explain the principle of insurance which is
applicable in the above case.
Q:36A company took fire insurance policy for Rs 5 lakhs.After three months,due to fire,insured suffered a loss of
Rs 2 lakh.How much money will company get as compensation and why?
Q:37 Surinder Chauhan had purchased a bus for Rs 40,00,000 to be used as a private service vehicle . It was
insured under a comprehensive insurance insurance policy issued by an insurance company. The bus met with an
accident , for which insurance was claimed. The insurance company appointed its surveyor, who assessed the
loss at Rs100,500 and this amount was paid to Surinder Chauhan. Identify and explain the principle of insurance
which is applicable in the above case.

Q:38 Ekant took a marine policy to cover the goods exported by him..Under the policy,goods have been insured
against damage likely to be caused by sea water.During the voyage a hole was caused at the bottom of the
ship.Through this hole sea water entered into the ship which damaged the goods insured.Can Ekant claim
compensation for the loss?
Q:39 A cargo ship was insured against perils of sea through a marine insurance .While the consignment was
being loaded on to the ship some rats also creped along. During the voyage, the rats made holes in the ship .
Consequently ,the sea water entered into the ship and the cargo was damaged. A claim against loss was filed and
was duly compensated by the insurance company.
Q: 40 Rajeev took a marine policy from Thee Star General Insurance Company . Under this policy goods have
been insured against damage likely to be caused by sea water. During the voyage , a hole was caused at the
bottom of the ship and through the hole, sea water entered into the ship . As a result, the goods insured were
damaged and Rajeev suffered a loss.
a)Can Rajeev claim compensation for the damage from the insurance company?
b)If yes, which principle of insurance is applicable?

Q:41 A transport company took an accident insurance policy for all its vehicles.A truck of that company
carrying oranges met with an accident.Due to that accident there was no damage to oranges but oranges were
unloaded from that truck and reloaded to another.Due to time wasted in unloading and reloading, the oranges got
spoiled.Will the company get compensation for loss of oranges from the insurance company or not?Which
principle is related with this case?Explain that principle of insurance?
Q:42The cause for loss must be related to the purpose of insurance.Which principle of insurance is related to this
statement?
Q:43Identify and explain the principle of insurance in which insurer can take over the damaged goods.
Q:44Vimal got his factory insured for Rs 1 crore and later suffered a loss of Rs 20 lac.He got full compensation
of Rs 20 Lac from the insurance company and later sold some half-burnt goods for Rs 50,000.Who has the right
over the sale proceeds and why?
Q:45The insured should not be allowed to make any profit by selling the damaged property or in case of lost
property being recovered.Which principle of insurance ensures this?

Q:46 Armaan gets his house insured against fire of Rs 10 Lakh with insurer A and for Rs 5 Lakh with insurer
B.A loss of Rs 3 lakh occurred.How much compensation can he claim from A and B?Why?
Q:47Jeevan insureshis property worth Rs 10 crore with two insurers .AIGLtd. an Metlife Ltd. for Rs 6 crore and
Rs 4 crore, respectively. Due to an earthquate, the actual damage caused to Jeevan’s property is worth Rs 3crore.
He filed a claim for Rs 3 crore against each of the insurance companies. Identify and explain the principle of
insurance which has been violated in the above case.
Q:48 Salil gets his godown insured worth Rs 8,00,000 from three Insurance Companies X-Rs 2 Lakh,Y – Rs 4
Lakh,Z Rs 2 Lakh.There was a loss due to fire amounting to Rs 2,00,000.How much can Salil claim from X,Y,Z
and under which Principle of Insurance.
Q:49 The insured must take care of his goods and other things,for which insurance is being taken as he was
taking insurance policy.To which principle of insurance is this related?

Q:50Akshat is the owner of a cracker manufacturing business.He has got his factory insured against fire but he
has not made any arrangements related to fire safety devices because it is a costly affair.The factory catches
fire.Akshit does not do anything to stop fire.Akshit makes a claim from Insurance company but Insurance
company refuses his claim.a) Identify and explain the relevant principle of Insurance..b) Identify the values
which according to you are violated by Akshit.
TYPES OF INSURANCE
Q:51 In all types of Insurance(life,fire,marine),insured must have insurable interest both at the time of insurance
and at the time of loss.Do you agree?
Q:52 Under which policy,policy money is payable after the assured attains a certain age in
monthly,quarterly,halfyearly or annual instalments?
Q:53Ranu and Manu are two good friends.Can Ranu take life insurance policy on the life of Manu?
Q:54Give the name of the policy which is taken by a person for his children to meet the expenses of their
education and marriage.
Q:55Name and define the type of Insurance wherein insurable interest need not exist when the policy is taken.
Q:56Life Insurance involves both protection and investment.Explain.
Q:57List two conditions which should be satisfied in case of loss by fire.
Q:58Make a difference between life,fire and marine insurance on the basis of:
1)Element
2)Duration
3) Loss Measurement
Q:59 Why is life insurance considered as a contract of assurance.

COMMUNICATION
Q:60 Name two categories of communication services.
Q:61 Name the postal facility
a)where it is ensured that the mail is delivered to the addressee otherwise it should come back to the sender.
b) which acts as a proof that sender has sent the mail.
c) where mail reaches the addressee as fast as possible
d) involves delivery of letters,documents and small parcels from one place to another through private oprators.
Q:62 As e-mails and SMSes become the order of the day,the Postal Department is going hi-tech by geo-tagging
the post offices and provide time bound and guaranteed mail delivery of letters,important documents etc.
a) Quote the line to show the postal service offered by the post office.
b) Also explain any two other postal services provided by post offices.
Q:63 Radha stays in Kashipur, a city of Udham Singh Nagar dDistrict, in the Indian state of Uttarakhand . She
sees a job advertisement in the newspaper and decides to apply to apply for the same through post. Her father
advises her to send the application through registered post instead of an ordinary mail. In context of the above
case: (a) How is registered post different from an ordinary mail? (b) Explain briefly any two other postal services
available in our country.
Q:64 Indian Postal Department is no more a department related to sending letters through post.Comment.
Q:65 Name any three financial facilities provided by post offices.
Q:66 Explain the five types of telecom services
Q:67 Name two companies that offer DTH services in our country
Q:68 Name a satellite based communication service.
Q:69 Tata Sky is a direct braodcast satellite television provider in India . It was incorporated in the year 2004.
Tata Sky is a joint venture between the Tata Group and 21st Century Fox . Its primary competitors in this
segment are Airtel Digital TV, Sun Direct ,Reliance .In context of the above case: (a) Identify the type of service
is being provided by Tata Sky. (b) Explain briefly any two other telecom services available in our country.
Q:70 Name the government agency that provides postal services in our country.