Business Services (Prepared By Preksha Mehta)

1. The primary function of a bank is

Accepting deposits

Lending money

Both of the above

None of the above

About This Quiz

Try this quiz to test your understanding on the chapter Business Services.

2. What first name or nickname would you like us to use?

You may optionally provide this to label your report, leaderboard, or certificate.

2. There is no minimum limit under Real Time Gross Settlement (RTGS) for transfer of funds.

True

False

The minimum amount for RTGS transactions is Rs.2 lakh.

Explanation

The minimum amount for RTGS transactions is Rs.2 lakh.

3. Banks are

Borrowers

Lenders

Both of the above

None of the above

4. The principle of indemnity is not applicable to

Life insurance contract

Fire insurance contract

Marine insurance contract

None of the above

Submit

6. Match the following

Insurable interest

Utmost good faith

Indemnity

Mitigation

Subrogation

Submit

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