IC88 Mock Test Sample 13

Marketing, insurance, service quality, and rural development are important components of economic growth and customer satisfaction. Mission Antyodaya focuses on improving rural living standards, employment, and housing facilities. In insurance, customer satisfaction largely depends on claim handling and service quality. Logistics refers to transportation and storage operations until goods reach customers. The Boston Matrix suggests “hold” as the strategy for cash cow products. Supporting services enhance customer value beyond core services. Brand image strongly affects customer perceptions before purchase decisions. People are considered the most critical organizational resource. Rural development initiatives like the Rurban Mission aim to provide urban-style amenities in villages.

1. Which is NOT a motive of Mission Antyodaya schemes?

a) Providing self-employment
b) Improving rural skills
c) Providing houses for the poor
d) Providing agricultural products to rural people

2. In insurance, what provides maximum satisfaction to policyholders?

a) Agent behavior during purchase
b) Office staff responses
c) Claim handling behavior
d) All of the above

3. Which word refers to transportation and storage operations until goods reach customers?

a) Marketing
b) Product processing
c) Production
d) Logistics

4. Which statement is NOT true regarding cost orientation marketing?

a) Improves profits through increased sales
b) Focuses on reducing costs through efficiency
c) Lower prices increase revenue
d) Increasing product cost always increases revenue

5. According to the Boston Matrix, what is the suitable strategy for a Cash Cow?

a) Harvest
b) Divest
c) Hold
d) Build

6. Those involved in collusion pricing are said to form a-

a) Cartel
b) Group
c) Consortium
d) Syndicate

7. Which statement is true regarding claimants in insurance?

a) Claimants seek redemption of promises
b) Nominees or heirs may be claimants
c) Claimant may not be policyholder
d) All of the above

8. In service business, the delivery system is a ____ part of the product.

a) Core
b) Peripheral
c) Customization
d) Fundamental

9. When obsolescence begins, the product enters the ___ stage.

a) Inclining
b) Declining
c) Maintenance
d) Failure

10. Which service increases value but does not facilitate core service consumption?

a) Facilitating services
b) Supporting services
c) Core services
d) Customer participation

11. Dirty bed sheets in a hotel reflect poor-

a) Responsiveness
b) Empathy
c) Tangibles
d) Reliability

12. Why did Ralph Nader start the consumerism movement in the USA?

a) Consumer awareness protection
b) High prices charged by manufacturers
c) Neglect of safety features on products
d) Lack of customer care numbers

13. How does Mintzberg describe the growth of strategies?

a) Gradual and preconceived
b) Rapid and collective
c) Systematic and cultivated
d) Independent and individual

14. What affects customer perceptions before purchase?

a) After-sales service
b) Performance specifications
c) Brand image and endorsements
d) Claims handling

15. What is considered the most critical organizational resource?

a) Financial resources
b) Physical resources
c) Technological resources
d) People

16. What percentage of rural population is engaged in manual casual labour?

a) 0.301
b) 2.50%
c) 51.14%
d) 4.58%

17. Which intermediaries are present at the village level?

a) State governments
b) Cooperative societies
c) Agents and dalals
d) Mandi level brokers

18. Which initiative aims to provide urban-like amenities to village clusters?

a) PM Fasal Bima Yojana
b) MGNREGA
c) Rurban Mission
d) IRDA Micro Insurance

19. What is the essence of doing one’s duty?

a) Personal gain
b) Unethical behavior
c) Achieving personal ends
d) Fulfilling obligations as its own reward

20. Which is NOT a direct income-generating asset?

a) Factory
b) Motor car
c) Cow
d) Insurance policy

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