IC88 Mock Test Sample 19
Marketing and service management focus on customer satisfaction, relationship building, and quality improvement. Effective salespeople understand customer perceptions and build trust through communication and reliability. Services differ from products because many are intangible and depend heavily on human interaction. Fintech has transformed banking and insurance by introducing digital payments and advisory services. Quality management includes prevention costs, benchmarking, and continuous small improvements. Insurance demand is generally price inelastic because protection is essential. Public relations involve all stakeholders, while managers are responsible for proper resource utilization. Rural development initiatives such as MGNREGA and broadband connectivity contribute significantly to economic growth and employment opportunities.
Q1. What is one of the tasks of effective salesmen?
a. Generating dissonance
b. Ignoring perceptions
c. Tackling the perceptions of the prospects
d. Avoiding positive strokes
Q2. What distinguishes a "pure intangible" service from a service that adds value to tangible products?
a. Cost
b. Tangibility
c. Nature of services offered
d. Speed of service
Q3. What is one of the objectives of marketing activities?
a. Finding new customers only
b. Increasing customer attrition
c. Building strong long-term relationships with customers
d. Offering lowest possible prices
Q4. What challenges may consumers face when comparing data and making a final decision?
a. All products score equally
b. All data are factually correct
c. Complaints are well documented
d. Each product scores high on different aspects
Q5. What is one of the major issues faced by service management?
a. Lack of routines for consistent quality
b. Elimination of electronic instruments
c. Overemphasis on humans
d. Difficulty in avoiding human beings in service chain
Q6. Which services are included in Fintech services?
a. Only insurance
b. Only payments
c. Only advisories
d. Payments and advisories for retail banking customers
Q7. What is the impact of reducing promises into writing on reliability?
a. Improves reliability
b. Documentation unnecessary
c. Hinders reliability
d. Unrelated to candour
Q8. What are the costs of investigating and preventing failures called?
a. Appraisal costs
b. Internal failure costs
c. External failure costs
d. Prevention costs
Q9. Why are customers sometimes kept out of certain service processes?
a. To maintain mystery
b. To reduce customers
c. To save costs
d. Certain elements may be disturbing
Q10. According to Kissinger, what is the most daring course in crisis management?
a. Grandstanding for policy
b. Cold and brutal measures
c. Gradual escalation
d. Showing opponents a way out
Q11. Why is dissonance more likely in insurance purchases?
a. Immediate benefit
b. Uncertain premium payment
c. Strong predisposition to buy
d. Distant and uncertain benefit
Q12. How is benchmarking described in setting quality standards?
a. Chosen level of service
b. Shows what is possible
c. Best possible offering
d. Measurement of competition
Q13. What is the suggested approach towards improvement?
a. Ignore small improvements
b. Overemphasize small changes
c. Run down suggestions
d. No improvement is too small to ignore
Q14. How are product ranges defined in breadth and depth?
a. Different varieties add breadth
b. Different products add depth
c. Variations in policies add depth
d. Both A and C
Q15. How do insurance premiums affect demand for insurance?
a. Price-elastic
b. Price-inelastic
c. Fluctuating demand
d. No impact
Q16. Who are the intermediaries involved at the claim stage in general insurance?
a. Hospitals and garages
b. MACT
c. High Court judges
d. Surveyors and loss assessors
Q17. Who are considered publics in PR?
a. Only employees
b. Only shareholders
c. Only customers
d. All stakeholders
Q18. What is the responsibility of every manager regarding resources?
a. Reduce resources
b. Maintain same level
c. Waste resources
d. Ensure resources are enhanced and not wasted
Q19. How many active laborers were registered under MGNREGA as of March 16, 2016?
a. 10 lakhs
b. 10 crores
c. 1 crore
d. 5 crores
Q20. What percentage of panchayats are covered by broadband?
a. More than 50%
b. More than 60%
c. More than 70%
d. More than 80%
