Business Studies, asked by Anne24wheeler, 10 months ago

1. Insurance Regulatory and Development Authority of India (IRDAI), was incorporated as
statutory body in
a. April, 2001
b. April, 2000
c. April, 2002
d. April, 2003
2. What is the rate of GST on rough precious?
a. 0.25%
b. 0.50%
c. 0.75%
d. None of the above
3. Which of the following cannot be used to withdraw cash from bank account?
a. ATM card
b. Cheque
c. Demand Draft
d. Withdrawal slip
4. When an account is opened in two names, the account is known as.
a. Dual account
b. Separate account
c. Joint account
d. Two account
5. Payment of a cheque cannot be made on a cash counter of bank, if the cheque is
a. bearer
b. Account payee
c. order
d. None of these
6. Which of the following is not a commercial bank?
a. Reserve Bank of India
b. State Bank of India
c. Canara Bank
d. Oriental Bank of Commerce
7. Insurance Regulatory and Development Authority of India (IRDAI), has its head office
situated at which city?
a. Bangalore
b. Chennai
c. Hyderabad
d. Mumbai
8. What is the full form of GST?
a. Goods and Supply Tax
b. Goods and Services Tax
c. Government and supply Tax
d. Government and Services Tax
9. provides protection for our vehicle against the financial loss
and liability due to accident or theft.
a. Health Insurance
b. Travel Insurance
c. Home Insurance
d. Motor Insurance
10. Which of the following is not correct for Group Insurance?
a. Group insurance is offered to a homogenous group having a similarity.
b. Group insurance is costlier as compared to individual policies.
c. Group insurance saves a lot of administrative work.
d. All the people covered in the group have similar kind of risk
Abbreviations: (5 marks)
1. MICR

2. KYC

3. PIN
__
4. IFSC
Jumbled Words (5 marks)
S. No. Jumbled Words Clue Solution
1. OMSTUC UTDY Indirect taxes levied on goods
imported to/exported from India.
2. MEDDNA FRADT An instrument used by individuals to
make payment or transfer money.
3. SASPOOKB Issued by bank at the time of account
opening. Transactions carried out in an
account are listed in it.
4. MMRECOLIAC KNBA Performs all kinds of banking business.
5. TMNYPAE ORREDS Usually issued for payment within a
city.
D. Fill in the blanks: (5 marks)
1. The name of India’s central bank is _.
2. If a cheque is not honored by the bank since it is presented for payment after three months
from the date of issue, it is called .
3. An _ is a government tax imposed on individuals or entities that varies with
the income or profits of the taxpayer.
4. IFSC code has _ characters.
5. When the word “or bearer” appears on the face of the cheque it is known as a
____________.
E. True /False (5 marks)

1. IRDAI was constituted as an autonomous body to regulate both Insurance and Pension related
products and services. True/ False
2. Reserve Bank of India is a scheduled bank. True/ False
3. Third Party Liability insurance is compulsory for heavy motor vehicles only. True/ False
4. Excise duty is a type of Indirect tax. True/ False
5. Debit cards can be used at ATMs to withdraw cash. True/ False
F. Short Questions (2x5=10 Marks)
1. What is Insurance? Mention at least 3 types of Insurance?
2. Name 3 different types of cheque?
3. What is Direct Tax? Give an example of a Direct tax.
4. What are the documents required for opening a bank account for a minor?
5. Every bank has a unique MICR Code. What are the details encoded in the 9 digits of MICR Code?

Answers

Answered by Aravindreddy1981

Answer:

Answered by nirjapal0810

Answer: 1)A

2)D

3)B

4)C

5)A

6)C

7)D

8)A

9)A

10)C

Explanation:

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