Q. What is
E-mail? Write down its advantages
is a short process of communicating written messages on computer through
electronic media i.e. Internet. The immediate presence of recipient of message
is not necessary in it.
of E-mail: -
(1) Fastest Mode of communication
(2) Cheapest Mode
(4) Immediate Feedback
(5) Permanent Record for Future Reference
the procedure of taking a Fire Insurance Policy.
Ans: For taking
out a fire policy, the owner of the goods or property has to undergo following
Selection of Insurance Company: Unlike life insurance, where only one company
handles the work of life insurance in India there are many companies which
handle the work of fire insurance. Each company offers different rate of
premium and different services, hence, the person making the fire insurance has
to select the company first.
Filling the Proposal Form: The proposal form is the basis of contract for fire
insurance. The insured must observe utmost good faith in disclosing all
material facts of the insured property and no fact should be hidden, otherwise
the contract would be void.
Evidence of Respectability: The Company requires an evidence of honesty and
integrity of the insured. But if the company knows. The is required so that a
character less person may not himself damage his property and claim the
Survey of the Property: The rough survey the company wants to estimate the
probable risk. If risk is small, inspector of the company surveys the property
but if the risk is high, special surveyors are appointed
Q. Write down
four advantages of E-mail.
Ans: E- mail offers the following advantages:
Fastest mode of communication: It is the fastest mode of
transmitting written messages. Messages are sent within minutes to the distant
Cheapest mode: Taking into consideration
the distance and the contents of the message, it is the cheapest mode of
transmitting the message
Secrecy: Messages sent through
E-Mail remain secret between the sender and the receiver since only the
receiver can get the message.
Permanent record for future
reference: The messages sent or received through e-mail can
be stored for future reference
Q. What are
those benefits, which are provided by Service Sector?
Ans: An efficient service sector provides the
Consumer’s satisfaction: Efficient service Sector contributes to consumers’
satisfaction by providing them quick and economical service.
Lower Distribution Costs: Cost of distribution forms a major part of the total
cost of production of any commodity. The costs of service facilities like
transport, insurance, warehousing increases the prices of the commodity. The
efficient and cheap supply of these services lower down the cost, which is
beneficial to customers.
Increase in Sale: Service sector through its efficient transport,
communication, warehousing Advertisement and publicity facilities expands the
market of the goods resulting increasing in sale.
Stablisation of Prices: Service sector plays an important role in ensuring
price stability Transport prevents sharp fluctuations in prices by carrying
goods from areas of abundant supply to the areas of scarcity warehousing
ensures all the year round supply of goods, irrespective of the period when
they are produced both these factors result in greater stability in prices.
Creation of Utility: Warehousing creates time utility by storing and preserving
goods during off- season and making them available when they are needed for
Q. Write down
the difference between Fire Insurance and Marine Insurance.
should be insurable interest at both times, while taking policy and at the
time of loss.
insurable interest should be at the time of loss only.
Assignment of policy
can’t be assigned without the prior permission of the insurance company
case the policy can be assigned. No prior approval is required
Amount of Compensation
actual loss or insured amount whichever is lower is paid
can claim the market value of the ship and cost of goods destroyed plus a
reasonable margin for anticipated profits.