Business Services Test - 1

Explanation:

Commercial banks are considered not merely as dealers in money but also the leaders in economic development. It helps in accelarating Capital Formation, encouragement of industry, development of agriculture, socio economic values etc.

Explanation:

Shri Vishwanath Pratap Singh, Minister of Finance introduced Crop Insurance in budget 1985-86.

Explanation:

Burglary insurance is a policy that covers losses resulting from a burglary, Burglary is the unlawful taking of property from within premises, entry to which has been obtained by force. Usually Jewellery and other valuable items like cash etc are subject to burglary and hence are covered under Burglary Insurance.

Explanation:

Floating Policy is a policy which covers loss by fire caused to property belonging to the same person but located at different places under a single sum and for one premium. Such a policy might cover goods lying in two warehouses at two different locations. This policy is always subject to 'average clause'

Explanation:

liability insurance is only responsible for the other party's losses. Your person and your property are unprotected, but the insurance protects you from being held responsible for the other party's damages.

Explanation:

The minimum period for Term policy is 1 Year and more. The death benefit of the policy is paid only if the insured dies during that period. If the insured lives beyond the term period, no death benefit is paid. Typically, there are no cash values or loan values for term life insurance.

Explanation:

The Insurance Act, 1938 is a law originally passed in 1938 in British India to regulate the Insurance sector. It provides the broad legal framework within which the industry operates.

Explanation:

Childeren money back plans are designed to meet the future goals of a child like Higher education, marriage expenses.It was introduced in 1995 with the purpose of develpoment of childeren.

Explanation:

A money back policy is a more complex life insurance policy than a term plan or a standard life insurance. A normal term plan or standard life insurance covers death risk and assures to pay sum to the insured party on maturity. But a money back policy provides additionally certain amounts called survival benefits in addition to the sum assured and a bonus from the insurance company based on its performance.

Explanation:

CWC stands for Central Warehousing Commission.It is a premier Warehousing Agency in India, established during 1957 to provide logistics support to the agricultural sector and is one of the biggest public warehouse operators in the country offering logistics services to a diverse group of clients.