Business Services Test - 2

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.

A fixed deposit (FD) is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date.

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.

Insurance is an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.Hence it inncludes risk sharing and with passage of time it has become a good source of capital formation as well.

Lending of money is giving money as a loan for interest for fixed period of time and return is confirmed and no risk cover is involved

But in insurance the insured has to pay annual premium to insurer company for risk cover and hence it does not include any lending of money.

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'

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.

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

Central bank is an organization that primarily manages a monetary system. The term usually y refers to the central bank for a country, but not every country uses a central bank.

A compulsory car insurance scheme was first introduced in the United Kingtom with the Road Traffic Act 1930. This ensured that all vehicle owners and drivers had to be insured for their liability for injury or death to third parties whilst their vehicle was being used on a public road.