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Business Services Test - 14

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Business Services Test - 14
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Weekly Quiz Competition
  • Question 1
    1 / -0
    One word for a group of words "One who calculate insurance and annuity premium" is __________.
    Solution
    One word for a group of words "One who calculate insurance and annuity premium" is actuary. Actuary basically deals with management and measurement of risks and uncertainty. An actuary is often described as a business professional.
  • Question 2
    1 / -0
    Process by which physical certificates of an investor are converted to an equivalent number of securities in an electronic format and credited in the Investors A/c held through depository participant is called  __________.
    Solution
    Dematerialisation or Demat in short is the process through which an investors physical share certificate gets converted to electronic format which is maintained in an account with the Depository Participant.
  • Question 3
    1 / -0
    A Joint HUF business ceases to exist on the death of the KARTA.
    Solution
    On the death of the Karta, the Joint Hindu Family business continues to exist as the next senior-most family member becomes the Karta. However, a Joint Hindu Family business can be dissolved at any time either through mutual agreement between members or by partition.
    Hence, the following statement is false.
  • Question 4
    1 / -0
    The service provided to improve the standard of living of the weaker sections of society are ______________.
    Solution
    Business services are those services which are used by business enterprises for the conduct of their activities.
    Social services are those services that are generally provided voluntarily in pursuit of certain social goals. These social goals may be to improve the standard of living for weaker sections of society, to provide educational services to their children, or to provide health care and hygienic conditions in slum areas.
    Personal services are those services which are experienced differently by different customers.
  • Question 5
    1 / -0
    Services are ___________ in nature.
    Solution
    Services are intangible. They cannot be touched and felt. They are inconsistent as it they are unique and heterogeneous. They are inseparable as well which means that the production and consumption of service cannot be separated unlike a tangible product.
  • Question 6
    1 / -0
    All types of voice and non voice messaging services are known as ______________.
    Solution
    • Business services are those services which are used by business enterprises for the conduct of their activities.
    • Telecom services provide voice and non voice messaging services.
    • Social services are those services that are generally provided voluntarily in pursuit of certain social goals.
    • Personal services are those services which are experienced differently by different customers. They will also depend upon customer’s preferences and demands. For example, tourism, recreational services, restaurants.
  • Question 7
    1 / -0
    ___________ services are experienced differently by different customers according to their preferences and demands.
    Solution
    • Business services are those services which are used by business enterprises for the conduct of their activities.
    • Social services are those services that are generally provided voluntarily in pursuit of certain social goals.
    • Personal services are those services which are experienced differently by different customers. They will also depend upon customer’s preferences and demands. For example, tourism, recreational services, restaurants.
  • Question 8
    1 / -0
    The abbreviation 'VSAT' stands for ________.
    Solution
    VSAT (Very Small Aperture Terminal) is a satellite communications system that serves home and business users. 
    A VSAT end user needs a box that interfaces between the user's computer and an outside antenna with a transceiver. 
    The transceiver receives or sends a signal to a satellite transponder in the sky.
  • Question 9
    1 / -0
    The simultaneous activity of production and consumption of services is called _____________.
    Solution
    They are inseparable as well which means that the production and consumption of service cannot be separated unlike a tangible product.
  • Question 10
    1 / -0
    What makes services difficult to be judged than goods?
    Solution
    A risk is associated with service when a customer buys it as customer cannot see the service before availing it. 
    Thus, intangibility makes it difficult to judge services than a tangible product.
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