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Chapter 4: Business Services
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Select the appropriate option
In ___________ policy subject matter is insured for specific voyage irrespective of time.
annuity
voyage
floating
Warehouse creates __________ utility.
space
time
possession
The principle of ______ is not applicable to life insurance.
insurable interest
utmost good faith
indemnity
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Match the correct pairs
Match the correct pairs.
| Group A | Group B |
| A. Sprinkler policy | 1. provides a regular percentage of the sum assured |
| B. Child insurance | 2. marketing |
| C. Money back policy | 3. demand made by insured to insurer for loss occurred due to mishap |
| D. Claim | 4. profit |
| E. Insurance | 5. proposal |
| 6. protection from financial loss | |
| 7. for voyage | |
| 8. ULIP | |
| 9. suitable for children | |
| 10. fire insurance |
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services State true or false
Business services are important for the growth of business.
True
False
NEFT stands for National Electronic Fund Transfer.
True
False
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Complete the sentence
The word bank comes from French word _______.
_________ banking refers to the use of banking services with the help of mobile phones.
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Select the correct option
Select the correct option.
(no need to carry cash, intangible, fund transfer system, accepting deposits, niche banks in India)
| Group A | Group B |
| A. _____________ | services |
| B. commercial bank | ______________ |
| C. _____________ | Small finance bank |
| D. credit cards | _______________ |
| E. _____________ | RTGS |
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Answer in one sentence
What are business services?
What is demand deposits?
What is exchange bank?
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Correct the underlined word and rewrite the sentence
Correct the underlined word and rewrite the sentence.
The commercial bank is the apex financial institution in banking industry in the country.
Correct the underlined word and rewrite the sentence.
The person who is protected against certain losses is known as insurer.
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Arrange in proper order
Arrange in proper order.
Claim, Accident, Taking the policy, Compensation
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Explain the following terms/concepts
Explain the following term/concept.
Insurance
Explain the following term/concept.
Marine Insurance
Explain the following term/concept.
Life Insurance
Explain the following term/concept.
Fire insurance
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Study the following case/situation and express your opinion
Study the following case/situation and express your opinion.
Ms. Harshali has started a new business two years ago. Her customers are located in different parts of the country and hence they are directly depositing bill amounts in her business account. At the same time, she used to pay various payments from this account only.
i) Identify the Type of account maintained by Ms. Harshali.
ii) Suggest anyone modern way of money transfer to Ms. Harshali.
iii) What kind of facility does she get on her bank account?
Study the following case/situation and express your opinion.
Mr. Sadagopan is a businessman he has two factories in Indore and Bhopal. He lives in Bhopal with his wife and two daughters aged 5 and 8 years.
- Can Mr. Sadagopan take life insurance policy for two children?
- Is child insurance is suitable for a wife of Mr. Sadagopan?
- Which type of insurance should Mr. Sadagopan take for protecting his factories from loss due to fire?
Study the following case/situation and express your opinion
Shirish shifted some furniture to his office and issues a cheque of Rs. 20000/- to MV Movers Limited. Balance in his account is Rs. 15000 still bank clears the cheque. Shirish also wants to renovate his office so he applies for a loan of Rs. 25 lacs which bank sanctions and transfer the amount to loan account. But Shirish withdrew only Rs. 15 lacs. Shirish accepted a bills of exchange for Rs. 5 lacs drawn upon him by M/s. Creative Furnitures for supplying new furniture for his office it is due on 31st May, 2021 but M/s. Creative Furnitures needed money on 1st April, 2021. They got Rs. 4.75 lacs from the bank on the basis of the same bills of exchange.
- Name the type of account Shirish must be operating
- On which amount Shirish will have to pay interest on loan?
- Which service did the bank make available to easy M/s. Creative Furnitures while paying rupees 4.75 lacs?
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Distinguish Between
Distinguish between.
Central Bank and Commercial Bank
Distinguish between.
Life Insurance and Fire Insurance
Distinguish Between.
Fixed deposit account and Savings account
Distinguish between.
Life Insurance and Marine Insurance
Distinguish Between:
Fire Insurance and Marine Insurance
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Answer in brief
Answer in brief.
Explain any four e-banking services.
Answer in Brief.
State features of services.
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Justify the following statements
Justify the following statement.
Warehousing is important.
Justify the following statement.
Business services are necessary.
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Attempt the following
Explain types of warehouses?
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 Chapter 4 Business Services Answer the following
Answer the following.
Define Bank. Explain different types of banks.
Answer the following.
Explain agency functions and utility functions of banks.
What is insurance?
Define any four principles of insurance with examples.
Answer the following.
Explain types of marine insurance policies.
Answer the following.
Explain types of fire insurance policies.
Chapter 4: Business Services
SCERT Maharashtra Question Bank solutions for 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 chapter 4 - Business Services
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Concepts covered in 12th Standard HSC Organisation of Commerce and Management (OCM) Maharashtra State Board 2022 chapter 4 Business Services are Services, Business Services, Banking, Functions of Commercial Banks, E-banking Service, Insurance, Transport, Warehousing, Communication.
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