Business Services Test

Result

Business Services Test - 9

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Weekly Quiz Competition

Question 1
1 / -0

The real determinant of buying in income and saving theory is?

A
Purchasing power

B
Maximum satisfaction

C
Stimulation of want

D
Income

Solution

The real determinant of buying in income and saving theory is :- PURCHASING POWER.
As Purchasing Power is dependent on disposable income, i.e. , income left after payment of tax and savings.
Source :- Consumer behavior Theories,pdf. (Bangladehs Open University).
Question 2
1 / -0

Match the items of List-I with the items of List-II and select the correct answer:
List-I List-II
(i) Debit card (a) Several storage
(ii) Credit card (b) Online recovery of amount
(iii) Electronic purse (c) Image processing use
(iv) Cheque function (d) Revolving credit

A
$$(i) - (c), (ii) - (a), (iii) - (d), (iv) - (b)$$

B
$$(i) - (b), (ii) - (d), (iii) - (a), (iv) - (c)$$

C
$$(i) - (d), (ii) - (c), (iii) - (a), (iv) - (b)$$

D
$$(i) - (d), (ii) - (c), (iii) - (b), (iv) - (a)$$

Solution

A debit card is used for online banking. Information about the card can be used by a fraudster if the user shares confidential information related to the card. In case of loss of money, a request of recovery of the money is made to the respective bank in which the user holds the account.
A Credit Card with Revolving Credit facility can be used multiple times till the prescribed limit as long as the account is active and the credit restoration (paying back the money borrowed).
Electronic Purse is the store of value.
Image of a 'crossed' cheque is taken during the 'clearing' process followed by the bank.
Question 3
1 / -0

Transaction of internet banking excludes _________.

A
withdrawal of cash anywhere in India

B
statement of account for a specific period

C
transfer of funds from one account to another account

D
balance enquiry

Solution

Internet banking can be used for transacting online and has the limitation that cash cannot be withdrawn through the platform. The technology does not support cash withdrawal using internet banking. Internet banking facilitates downloading or viewing the statement of accounts, transferring funds from one account to another, and balance enquiry.
It can thus be concluded that cash withdrawal is not supported through internet banking.
Question 4
1 / -0

Commercial banks _________.

A
lend on the basis of proper credit appraisal

B
determine the quantum of credit

C
study other important aspects

D
All the above

Solution

D
The commercial banks are governed by the Indian Banking Regulation Act, 1949.
They accept deposits from the public and lend money for the purpose of investment.
Before lending the money the commercial banks check the credit score of the borrower in order to ensure whether he will be able to repay the loan or not.
It is also their duty to decide the quantum of credit on the basis of repayment capacity of the borrower.
Question 5
1 / -0

Commercial banks introduced credit card facility in the early _______.

A
1950's

B
1960's

C
1970's

D
1980's

Solution

The commercial banks introduced credit card facility in the early 1980's. A credit card is a card which is issued to the user or the cardholder by the bank to enable him to pay a seller for goods and services even if he does not have sufficient balance in his bank account. A credit card holder needs to pay the amount withdrawn from the credit card along with some charges to the bank at the end of each month. It is a kind of credit facility extended by the banks to the customers.
Question 6
1 / -0

Which of the following is not a function of insurance?

A
Risk sharing

B
Assist in capital formation

C
Lending of funds

D
None of the above

Solution

Insurance is a means of protection from financial loss. It is a form of risk management primarily hedged against any uncertain future loss. The functions of insurance are risk sharing, assisting in capital formation, economic progress, etc. Lending of funds is not a function of insurance. It is a function of banks.
Question 7
1 / -0

What is OTP in credit card transactions?

A
Odd Transaction Password

B
Owner's Trading Passcode

C
One Time Password

D
One Time Pincode

Solution

An OTP or one-time password or one-time pin is a password that is valid for only one login session or transaction, on a computer system or other digital device. It avoids a number of shortcomings that were associated with traditional password-based authentications. The most important advantage of OTP is that it is not vulnerable to replay attacks. This implies that an intruder who records an OTP that was already used to conduct a transaction will not be able to abuse it, as it will be no longer valid.
Hence, option (C) is the correct answer.
Question 8
1 / -0

The benefits of public warehousing includes _________.

A
Control

B
Flexibility

C
Dealer Relationship

D
None of the Above

Solution

A public warehouse is a business that provides short or long term storage facility to companies on a month-to-month basis. It not only provides storage facility but also offers inventory management, physical inventory counts etc. Hence the benefit is that it is very much flexible.
Question 9
1 / -0

CWC stands for _______.

A
Central Water Commission

B
Central Warehousing Commission

C
Central Warehousing Corporation

D
Central Water Corporation

Solution

Central Warehousing Corporation (CWC) is a premier Warehousing Agency in India, established during 1957 providing logistics support to the agricultural sector and is a public Warehouse operator offering logistics services to diverse group of clients.
Question 10
1 / -0

DTH services are provided by _______.

A
Transport Companies

B
Banks

C
Cellular Companies

D
None of the Above

Solution

DTH stands for Direct-to-home television. It is defined as the reception of satellite programmes with a personal dish in an individual home. Only cable operators can receive the satellite programmes which are transferred by them to individual homes. Hence, DTH services are provided by cellular companies.

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Re-Attempt Weekly Quiz Competition

List-I	List-II
(i) Debit card	(a) Several storage
(ii) Credit card	(b) Online recovery of amount
(iii) Electronic purse	(c) Image processing use
(iv) Cheque function	(d) Revolving credit

Business Services Test - 9

Result

Business Services Test - 9

Score

-

Rank

-

SHARING IS CARING

Question 1

Purchasing power

Maximum satisfaction

Stimulation of want

Income

Solution

Question 2

$$(i) - (c), (ii) - (a), (iii) - (d), (iv) - (b)$$

$$(i) - (b), (ii) - (d), (iii) - (a), (iv) - (c)$$

$$(i) - (d), (ii) - (c), (iii) - (a), (iv) - (b)$$

$$(i) - (d), (ii) - (c), (iii) - (b), (iv) - (a)$$

Solution

Question 3

withdrawal of cash anywhere in India

statement of account for a specific period

transfer of funds from one account to another account

balance enquiry

Solution

Question 4

lend on the basis of proper credit appraisal

determine the quantum of credit

study other important aspects

All the above

Solution

Question 5

1950's

1960's

1970's

1980's

Solution

Question 6

Risk sharing

Assist in capital formation

Lending of funds

None of the above

Solution

Question 7

Odd Transaction Password

Owner's Trading Passcode

One Time Password

One Time Pincode

Solution

Question 8

Control

Flexibility

Dealer Relationship

None of the Above

Solution

Question 9

Central Water Commission

Central Warehousing Commission

Central Warehousing Corporation

Central Water Corporation

Solution

Question 10

Transport Companies

Banks

Cellular Companies

None of the Above

Solution

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