IC88 Mock Test Sample 9
Marketing, insurance, ethics, and customer service are closely connected in business management. Insurance protects assets from risks and helps mobilize savings for long-term capital formation. Marketing focuses on matching organizational resources with customer needs through research and branding. Ethical standards in organizations are strengthened through actions, policies, and responsible behavior. Service quality depends on communication, empathy, leadership, and understanding customer expectations. Government initiatives like ASPIRE encourage entrepreneurship and start-ups in agro industries. Monitoring customer needs helps organizations improve service quality and customer satisfaction. Strong banking operations rely on efficient customer service, while CSR laws require companies to allocate part of profits to social responsibility.
1. Which program promotes start-ups and entrepreneurship in the agro industry?
a) ASPIRE
b) Skill India Programme
c) Mission Antyodaya
d) Pradhan Mantri Sinchayee Yojana
2. What role do actions play in establishing ethical standards?
a) Actions have no impact
b) Actions clarify organizational policies
c) Ethics depend only on instructions
d) Actions are irrelevant to ethics
3. Why do assets need insurance?
a) To increase market value
b) To generate income
c) Because they face risks and perils
d) To reduce depreciation
4. How do insurance companies contribute to the capital market?
a) By direct stock investments
b) By giving government loans
c) By mobilizing savings and long-term capital
d) By reducing market volatility
5. Which statement best defines marketing?
a) Procurement of production resources
b) Financial business activities
c) Transformation of resources into goods
d) Matching organizational resources with customer wants
6. What is the main fallacy of product orientation?
a) Assuming quality alone creates demand
b) Excessive promotion
c) Maximizing production
d) Offering discounts
7. How is the USA described in terms of ethnic diversity?
a) Cultural homogeneity
b) Salad bowl preserving ethnic heritage
c) Single ethnic group
d) Single language and religion
8. How can large organizations set objectives for different products?
a) Same objectives for all products
b) Focus only on leadership
c) One common objective
d) Separate objectives for each business segment
9. What does “brandscape” mean?
a) Physical production area
b) Consumer ideas and notions about a brand
c) Legal brand protection
d) Advertising materials
10. What role does market research play in marketing?
a) Not relevant in marketing
b) Helps set high prices
c) Improves operational efficiency only
d) Helps understand market dynamics and changes
11. Why is there often a low level of search in buying decisions?
a) Lack of awareness of useful information
b) Strong desire to compare information
c) Trust in all information
d) Complete technical understanding
12. What distinguishes car rental service from buying a car?
a) Cost of service
b) Tangible car features
c) Safety and roominess
d) Competence and politeness of chauffeur
13. Why can’t a warm smile be guaranteed in service organizations?
a) Poor staff training
b) Consumer requirements are difficult
c) Standardization in service is difficult
d) Different guides render different services
14. How does centralization of powers affect lower levels in government establishments?
a) Reduces demands
b) Encourages resource efficiency
c) Promotes teamwork
d) Leads to increased costs and exaggerated demands
15. Why should organizations monitor customer needs and expectations?
a) To identify expectation areas
b) To compete with rivals
c) To articulate wants clearly
d) To create satisfying offerings
16. Which skills are essential for a middle manager in service industries?
a) Technical expertise only
b) Empathy, communication, leadership, and listening
c) Command and control methods
d) Decision-making only
17. What is crucial for successful banking operations?
a) Speed of deposits and withdrawals
b) Offering credit cards
c) Providing exclusive privileges
d) Creating new plans
18. Employee conformity in behavior can be achieved through-
a) Company rules and regulations
b) Employee values
c) Both company rules and employee values
d) Skills and knowledge only
19. Companies must set aside at least what percentage of profits for CSR activities?
a) 2%
b) 1.5%
c) 2.5%
d) 3%
20. Which is the largest Non-life Insurance Company in India?
a) New India Assurance Company Ltd.
b) General Insurance Company
c) United India Insurance Company Ltd.
d) ICICI Lombard General Insurance Company Ltd.
