CBSE Questions for Class 11 Commerce Business Studies Business Services Quiz 3 - MCQExams.com

For passing an ordinary resolution, _____ percent votes are necessary. 
  • more than 20
  • more than 30
  • more than 40
  • more than 50
For passing a special resolution, ______ majority is required.
  • 25%
  • 50%
  • 75%
  • 90%
A written record of the business transacted and the resolution passed at the meeting is minute.
  • True
  • False
A motion finally passed at the meeting is called ______________.
  • a resolution
  • the minutes of meeting
  • an agenda
  • None of these
State the following statements is True or False:
A person appointed by a member to attend and vote at meeting is known as proxy.
  • True
  • False
An alteration proposed to the original motion. is called _______________.
  • Agenda
  • Resolution
  • Amendment
  • None of these
A motion which brings to the notice of the Chairman the irregularities of the meeting is called ___________.
  • minutes of Meeting
  • ordinary resolution
  • special resolution
  • point of order
State the following statement is True or False:
The persons who are trustees, agents and managing partners of the company are the directors.
  • True
  • False
Elected representative of the shareholders is called a __________.
  • Shareholder
  • Director
  • Secretary
  • None of these
The body of the elected representatives of the shareholders is the Board of Directors.
  • True
  • False
State the following statement is True or False:
A Director who is entrusted with the substantial powers of management is the Managing Director.
  • True
  • False
State the following statement is True or False:
At the event of loss, insurance policy holders submit a claim.
  • True
  • False
The meeting in which the auditors are appointed is the Annual General Meeting.
  • True
  • False
Insurance is a form of risk management.
  • True
  • False
State the following statement is True or False:
Fire Insurance is a contract to cover risk of loss due to fire.
  • True
  • False
State the following statement is True or False:
All insurance contracts are contracts of indemnity, except the contract of life insurance.
  • True
  • False
The fee charged by insurance companies is commonly known as 'premium'.
  • True
  • False
State the following statement is True or False:
Marine Insurance gives the protection against financial loss due to perils of the sea.
  • True
  • False
State the following statement is True or False:
Insurance means protection against possible risk of loss.
  • True
  • False
Select the option from the choices given below:
Marine insurance policy is generally issued for goods in ______.
  • factory
  • godown
  • voyage
  • transport
State the following statement is True or False:
Policy is the document which contains the terms and conditions of contract.
  • True
  • False
Fill in the blank:
The principle of indemnity is not applicable to ______ insurance.
  • life
  • fire
  • marine
  • motor
State the following statement is True or False:
Insurer undertakes to compensate the loss suffered by insured.
  • True
  • False
Select the option from the choices given below:
________ insurance is contract to cover risk of loss due to perils of the sea.
  • Fire
  • Marine
  • Life
  • general
State the following statement is True or False:
Accidental injuries or death risks are covered by marine insurance.
  • True
  • False
Select the option from the choice given below:
The principle of indemnity is not applicable to _____ insurance.
  • life
  • fire
  • marine
  • none of these
State the following statement is True or False:
Premium is a regular payment made by he insured to insurer.
  • True
  • False
State the following statement is True or False:
The document which contains the insurance contract is a policy.
  • True
  • False
State the following statement is True or False:
The principle of insurance under which the compensation paid to the insured which is equal to the actual loss is indemnity.
  • True
  • False
State the following statement is True or False:
The amount payable by the insured to the insurer in installments for protection against risk is premium.
  • True
  • False
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