IC88 Mock Test Sample 4
Service marketing and insurance management focus on customer satisfaction, service quality, communication, and ethical behavior. Projection refers to assigning one’s own feelings or characteristics to others. Customer satisfaction depends on the gap between expectations and perceptions. Service organizations face challenges in maintaining consistent quality because human interactions differ at every contact point. Complaints are handled efficiently through dedicated support systems, while middle managers play an important role in improving service quality. Insurance becomes meaningful to customers mainly at the time of claim settlement. The insurance industry supports the economy through investment and capital market contributions. Internet commerce has increased interactivity and customization in business.
1. What is Projection?
a) Stereo-typing based on categorizations
b) Projecting feelings, motivations, or characteristics onto others
c) Incomplete reception of symbols and data
d) Arguing about observations and judgments
2. Which Family Life Cycle stage consists of an older married couple with no dependent children and the head working?
a) Full Nest I
b) Full Nest II
c) Empty Nest I
d) Empty Nest II
3. What challenge is faced in training service staff?
a) Anticipating variations in consumer requirements
b) Providing practical instructions only
c) Different guides render different service
d) Warmth of a smile cannot be guaranteed
4. How is the level of satisfaction defined?
a) Satisfaction is unrelated to perception and expectation
b) Satisfaction is the sum of perception and expectation
c) Satisfaction is the difference between perception and expectation
d) Satisfaction depends only on perception
5. Which example illustrates the impact of inadequate systems on service quality?
a) Courier with a bank contract
b) Public hospital accommodating patients on the floor
c) Manufacturing unit reducing raw material costs
d) Service business with higher volumes
6. What is highlighted as an explicit concern for quality?
a) Cleaning streets before minister visits
b) Providing locker facilities at temples
c) Use of computerized personnel inventory
d) Handling customer grievances
7. What is emphasized as the role of a middle manager in a service industry?
a) Supervising subordinates
b) Controlling results and solving problems
c) Leading the organization
d) Improving quality of service at every contact point
8. What is the purpose of receiving complaints on dedicated telephone lines?
a) To discourage complaints
b) To process complaints efficiently
c) To save organizational costs
d) To punish someone for complaints
9. What is the purpose of the skimming pricing strategy?
a) To offer the lowest possible price
b) To charge the highest possible price
c) To maintain market share
d) To recover development costs before competitors enter
10. What challenge do new insurance agents typically face?
a) Lack of training centers
b) Low initial response from prospects
c) High levels of frustration
d) Immediate success in selling
11. What does the passage say about judgments based on external appearances?
a) They are always valid
b) They have no influence
c) They are avoidable
d) They influence first impressions and responses
12. What does the data reveal about literacy rates in rural areas?
a) Literacy has decreased among men and women
b) Literacy improved more among men
c) Literacy remained the same
d) Literacy improved more among women
13. What does spirituality consist of?
a) Exclusive privilege and benefit
b) Rituals and practices by priests
c) Division along religious boundaries
d) Humility, love, concern for others, and awareness
14. What term describes the expectation that assets perform during a useful lifespan?
a) Asset valuation
b) Asset liability
c) Asset depreciation
d) Asset longevity
15. Why is the insurance industry important to a country’s economy?
a) Provides direct employment only
b) Generates profits for the government
c) Controls large funds and supports capital markets
d) Directly contributes only to GDP
16. When does the product of insurance realize value to the customer?
a) At the time of purchase
b) During interaction with the agent
c) At maturity
d) At the time of claim
17. For which service sectors is capital requirement low?
a) Tax management
b) Organisation development
c) Export procedures
d) All the above services
18. Elements of service interactions take place-
a) Only at the time of claim
b) Only during servicing
c) Only at the time of sale
d) At sale, servicing, and claim stages
19. Which of the following can be called shopping goods?
a) Wrist watch
b) Cough syrup
c) Towels
d) School bag
20. Internet commerce has shifted focus from Reach to Richness, which measures-
a) Existing customers and bandwidth
b) Bandwidth, interactivity, and customization
c) Existing customers and interactivity
d) Customization only
