MCQOPTIONS
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MCQOPTIONS
This section includes 160 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Business Administration (BBA) knowledge and support exam preparation. Choose a topic below to get started.
| 101. |
For regulation and development of the insurance sector of the country the Government has formed: |
| A. | SEBI |
| B. | Reserve Bank of India |
| C. | Insurance Regulatory and development Authority |
| D. | General Insurance Corporation. |
| Answer» D. General Insurance Corporation. | |
| 102. |
Insurance is meant to |
| A. | Prevent specified events |
| B. | Prevent damage to assets from specified events |
| C. | Compensate for losses from specified events |
| D. | Rebuild the assets lost because of specified events |
| Answer» D. Rebuild the assets lost because of specified events | |
| 103. |
In case of life insurance, insurable interest should exist |
| A. | At the inception of policy |
| B. | At the time of claim |
| C. | At the time of every renewal of premium payment |
| D. | All the above occasions |
| Answer» B. At the time of claim | |
| 104. |
Which one of this is not a function of commercial bank? |
| A. | Accepting deposits |
| B. | Real Estate Development |
| C. | Paying bills |
| D. | Safety Box Deposit |
| Answer» C. Paying bills | |
| 105. |
RRB was set up in the year |
| A. | 1945 |
| B. | 1935 |
| C. | 1975 |
| D. | 1976 |
| Answer» D. 1976 | |
| 106. |
Insurable interest is |
| A. | Defined in the Insurance Act |
| B. | Defined in the Contract Act |
| C. | Defined by IRDA |
| D. | Not defined in any written law |
| Answer» E. | |
| 107. |
The first public bank was |
| A. | SBI |
| B. | Rural Bank |
| C. | PNB |
| D. | Bank of Venice |
| Answer» E. | |
| 108. |
Which one of this is a private sector bank |
| A. | Canara Bank |
| B. | Indian Overseas Bank |
| C. | Punjab National Bank |
| D. | Induslnd Bank |
| Answer» E. | |
| 109. |
___________are the banks whose main objectives is to provide financial assistance to economically weaker sections of the society. |
| A. | Co-operative B |
| B. | Commercial B |
| C. | Industrial B |
| D. | Development B |
| Answer» B. Commercial B | |
| 110. |
Extending credit facilities to farmer and small-scale industrial units is the main purpose of |
| A. | Development banks |
| B. | EXIM bank |
| C. | Cooperative bank |
| D. | Commercial bank |
| Answer» D. Commercial bank | |
| 111. |
The principle of utmost good faith is meant to protect the interest of |
| A. | The insurer |
| B. | The community of policyholders |
| C. | The shareholders |
| D. | None of the above |
| Answer» C. The shareholders | |
| 112. |
The principle of utmost good faith is important to ensure |
| A. | That the premium charged is correct |
| B. | That no one gets an undue advantage |
| C. | That there is no adverse selection |
| D. | All the three factors mentioned above |
| Answer» E. | |
| 113. |
Which one of this is not a function of Mobile Banking |
| A. | Balance Enquiry |
| B. | Cash Withdrawal |
| C. | Fund transfer |
| D. | Bill Payment |
| Answer» C. Fund transfer | |
| 114. |
Which is the largest private sector bank in India |
| A. | HDFC Bank |
| B. | Axis Bank |
| C. | ICICI Bank |
| D. | Kotak Mahindra |
| Answer» B. Axis Bank | |
| 115. |
Agency services rendered by a bank to its customers as their agent include: |
| A. | Receipt of deposits |
| B. | Act as executors of wills |
| C. | Issue letters of credit |
| D. | Purchase foreign exchange |
| Answer» C. Issue letters of credit | |
| 116. |
Regional Rural Banks (RRB s) were established in |
| A. | 1965 |
| B. | 1955 |
| C. | 1975 |
| D. | 1985 |
| Answer» D. 1985 | |
| 117. |
The Regional Rural Banks were set up in the year |
| A. | 1974 |
| B. | 1975 |
| C. | 1976 |
| D. | 1977 |
| Answer» C. 1976 | |
| 118. |
The principle of _______ensures that an insured does not profit by insuring with multipleinsurers. |
| A. | Subrogation |
| B. | Contribution |
| C. | Indemnity |
| D. | All of the Above |
| Answer» C. Indemnity | |
| 119. |
In the case of life insurance, the principle of insurable interest operates |
| A. | In the same way as in marine insurance |
| B. | In the same way as fire insurance |
| C. | In the same way as in motor insurance |
| D. | Differently than in other forms of insurances. |
| Answer» E. | |
| 120. |
Each Regional Rural Bank is sponsored by: |
| A. | a private sector bank |
| B. | a public sector bank |
| C. | cooperative bank |
| D. | none of the above |
| Answer» C. cooperative bank | |
| 121. |
Which is the largest public sector bank in India |
| A. | State Bank of India |
| B. | Bank of Baroda |
| C. | Canara Bank |
| D. | Indian Overseas Bank |
| Answer» B. Bank of Baroda | |
| 122. |
In insurance the risk is |
| A. | certain |
| B. | uncertain |
| C. | Both a and b |
| D. | None |
| Answer» C. Both a and b | |
| 123. |
Industrial banks are specialised financial institutions established by government to: |
| A. | Meet short term credit needs of the farmers |
| B. | Provide Cash Credit and Overdraft facilities |
| C. | Meet long term finance requirements of industries |
| D. | Provide necessary training to farmers |
| Answer» D. Provide necessary training to farmers | |
| 124. |
IRDA was constituted by which of the following committee s recommendations |
| A. | Singh Committee |
| B. | Malhotra Committee |
| C. | Sahota Committee |
| D. | None of these |
| Answer» C. Sahota Committee | |
| 125. |
For the purpose of insurance, motor vehicle are classified into ___Categories |
| A. | Two |
| B. | Three |
| C. | Four |
| D. | Five |
| Answer» C. Four | |
| 126. |
There is no interest on deposit in this type of account |
| A. | Current A/c |
| B. | Concurrent A/c |
| C. | Recurring A/c |
| D. | Solvency A/c |
| Answer» B. Concurrent A/c | |
| 127. |
Insurance principle does not include |
| A. | Principle of indemnity |
| B. | Principle of utmost good faith |
| C. | Principle of knowledge |
| D. | Principle of insurable interest |
| Answer» D. Principle of insurable interest | |
| 128. |
The largest and oldest bank still in existence is the |
| A. | Bank of Baroda |
| B. | Reserve Bank of India |
| C. | State Bank of India |
| D. | Axis Bank |
| Answer» D. Axis Bank | |
| 129. |
Which of the following is not the function of commercial banks: |
| A. | issuing currency |
| B. | transfer of funds |
| C. | credit creation |
| D. | all the above |
| Answer» B. transfer of funds | |
| 130. |
Fire insurance came into existence after the Great Fire of London in |
| A. | 1666 |
| B. | 1866 |
| C. | 1686 |
| D. | 1687 |
| Answer» B. 1866 | |
| 131. |
Which one is not feature of the contract of fire Insurance? |
| A. | It is personal in nature |
| B. | Cause of fire is immaterial |
| C. | Covers losses as a whole |
| D. | None of the Above |
| Answer» E. | |
| 132. |
The principle functions of an insurance contract are |
| A. | To define the risk that is to be transferred |
| B. | To state the conditions under which the contract applies |
| C. | To explain the procedure for settling losses |
| D. | All of the Above |
| Answer» E. | |
| 133. |
Internet Banking is also known as |
| A. | e-banking |
| B. | virtual banking |
| C. | both a and b |
| D. | None of them. |
| Answer» D. None of them. | |
| 134. |
Co-operative banks which work at metropolitan level are called as? |
| A. | District central Co-operative bank |
| B. | State co-operative bank |
| C. | Primary Urban Co-operative Bank |
| D. | Primary Agricultural Credit Societies |
| Answer» E. | |
| 135. |
The minimum sum insured under Fire insurance is |
| A. | Rs. 1 crore |
| B. | Rs. 2 crore |
| C. | Rs. 3 crore |
| D. | Rs. 4 crore |
| Answer» B. Rs. 2 crore | |
| 136. |
___________is the oldest form of insurance |
| A. | Motor insurance |
| B. | Marine insurance |
| C. | Fire |
| D. | Life |
| Answer» C. Fire | |
| 137. |
A kind of deposit where depositor is required to deposit a fixed amount at regular intervalfor a specific period is |
| A. | term deposit |
| B. | saving deposit |
| C. | fixed deposit |
| D. | recurring deposit |
| Answer» E. | |
| 138. |
A kind of deposit where depositor is required to deposit a fixed amount at regular interval for a specific period is |
| A. | term deposit |
| B. | recurring deposit |
| C. | savings deposit |
| D. | fixed deposit |
| Answer» E. | |
| 139. |
Commercial Banks make money available to public by |
| A. | A.T.M |
| B. | Honouring cheques |
| C. | Issuing money on demand from Savings A/c |
| D. | giving out loan |
| Answer» E. | |
| 140. |
___________is a kind of deposit where depositor is required to deposit a fixed amount of money every month for a specific period of time |
| A. | Term deposit |
| B. | Recurring deposit |
| C. | Savings deposit |
| D. | Fixed deposit |
| Answer» C. Savings deposit | |
| 141. |
The first Indian bank is known as |
| A. | Bank of Hindustan |
| B. | Bank of Madras |
| C. | Bank of Calcutta |
| D. | Bank of Bombay |
| Answer» B. Bank of Madras | |
| 142. |
Right of lien is the right of a creditor |
| A. | To sell the goods and securities of the customer in his possession |
| B. | To retain in his possession goods and securities and not the right to sell |
| C. | To appropriate a customer s debt |
| D. | none of the above |
| Answer» C. To appropriate a customer s debt | |
| 143. |
When a banks make an advance to lump sum, the whole of which is withdrawn in cashimmediately by the borrowers who undertakes to repaid it in installments, it is called |
| A. | Cash credit |
| B. | loan |
| C. | Home loan |
| D. | Personal loan |
| Answer» C. Home loan | |
| 144. |
___________is a central bank of a country. It acts as a leader of the money market. |
| A. | Commercial bank |
| B. | RBI |
| C. | Development bank |
| D. | SBI |
| Answer» C. Development bank | |
| 145. |
A cheque is an order to a bank to pay a stated sum from the |
| A. | Fixed Deposit A/c |
| B. | Drawer s A/c |
| C. | Loan A/c |
| D. | Recurring Deposit A/c |
| Answer» C. Loan A/c | |
| 146. |
_________ is a contract between two insures i.e. original insurer and another insurer. |
| A. | Insurance |
| B. | Reinsurance |
| C. | Policy |
| D. | Premium |
| Answer» C. Policy | |
| 147. |
Which of the following are the special relationship of banker and customer: |
| A. | Banker s obligation to honour cheques |
| B. | Banker lien |
| C. | Bankers duty to maintain secrecy of customer s accounts |
| D. | All of these |
| Answer» E. | |
| 148. |
The primary relationship between a banker and customer starts from the time |
| A. | when customer visits that bank |
| B. | when customer opens account |
| C. | when customer visits that bank to made queries |
| D. | All of the above |
| Answer» C. when customer visits that bank to made queries | |
| 149. |
Which one of the following is the most important relationship between banker & customer? |
| A. | Debtor & Creditor |
| B. | Bailee&Bailor |
| C. | Agency & Principal |
| D. | Trustee & Beneficiary |
| Answer» B. Bailee&Bailor | |
| 150. |
______________ is the right of a person to retain the property of another person in his possession untill the debt from that owner of that property is repaid |
| A. | Lien |
| B. | Retainment |
| C. | Retrenchment |
| D. | Libel |
| Answer» B. Retainment | |