IC88 Mock Test Sample 8
Marketing, insurance, customer service, and ethics are important aspects of business management. The Boston Matrix classifies products such as “Problem Child,” which represents products in high-growth industries but with weak competitive positions. Insurance operates on the principle of utmost good faith and mainly compensates economic losses. Service quality depends on competence, responsiveness, sensitivity, and customer satisfaction. Grievances are important indicators of service gaps and customer expectations. Niche marketing focuses on specialized customer groups with unique needs. Government schemes like Pradhan Mantri Ujjwala Yojana improve women’s health and reduce pollution. Strategic planning guides organizational operations, while spirituality promotes fairness, unity, and ethical behavior
1. What does “Problem Child” indicate in the Boston Matrix?
a) Product is a market leader
b) High-growth industry but weak competitive position
c) Product has passed its prime
d) Product has no future in the market
2. Which company was the parent company of New India Assurance?
a) IRDA
b) GIC
c) United India Insurance Company
d) LIC of India
3. Niche marketing strategies are used by organizations that want to-
a) Retain valuable customers
b) Increase sales instantly
c) Focus on a unique target market
d) Confront market leaders directly
4. What insurance does not do?
a) Avoid perils completely
b) Compensate losses fully
c) Compensate only economic losses
d) Provide investment opportunities
5. Which factor is most vital in building customer experience regarding service quality?
a) Price of service
b) Ease of access
c) Recognition
d) Competence
6. Insurance is based on the principle of-
a) Uberrima Fides
b) Utmost good faith
c) Consumer satisfaction
d) Both Uberrima Fides and utmost good faith
7. Which organizational exploitation is not approved by society?
a) Unfair treatment of workers and customers
b) Disrespect of basic rights
c) Concealing real data
d) All of the above
8. How is Pradhan Mantri Ujjwala Yojana beneficial for women?
a) Reduces pollution
b) Improves health in rural areas
c) Provides LPG connections
d) All of the above
9. Productive use of discretion is released when people-
a) Know company goals
b) Receive feedback on progress
c) Learn from mistakes
d) All of the above
10. Which statement is true regarding service quality?
a) Gives competitive edge
b) Adds value to customer experience
c) Helps word-of-mouth publicity
d) All of the above statements are true
11. Why should a grievance be taken seriously?
a) Shows customer expectations
b) Warns of losing customers
c) Gives clues about problems
d) All of the above
12. How many lives were covered under group plans by private companies during 2014-15?
a) 0.24 crore lives
b) 2.06 crore lives
c) 4.16 lakh policies
d) 4 lakh individual policies
13. What does true spirituality promote?
a) Exploitation of others
b) Oneness and concern for every being
c) Discrimination and profiteering
d) Unethical behavior
14. Why do people argue?
a) Projection
b) Incomplete reception of symbols and data
c) Halo effect
d) Stereo-typing
15. What is the natural reaction of policyholders toward purchasing insurance?
a) Eagerness
b) Trust
c) Resistance
d) Joy
16. How is Generation Y in India described?
a) Technologically unsavvy
b) Traditional in approach
c) Responsive to emotional appeals
d) Resistant to traditional practices
17. Why do some individuals not buy non-life insurance even without compulsion?
a) Strict regulations
b) Lack of product differentiation
c) They carry risks themselves
d) Low capital investment
18. In the bank example, what service aspect was lacking in the cashier’s behavior?
a) Competence
b) Responsiveness
c) Sensitivity
d) Reliability
19. What was the steward in the restaurant lacking?
a) Technical knowledge
b) Proper attitude
c) Uniform
d) Training
20. What is the main purpose of strategic plans in organizations?
a) Respond to crises
b) Guide operational plans
c) Cultivate emergent patterns
d) Achieve short-term objectives
