MEDIUM
Earn 100

Explain the principle of 'Indemnity' in insurance.

50% studentsanswered this correctly

Important Questions on Business Services

MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
Which principle of management emphasizes the importance of fair treatment and respect for employees?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
Suppose the price elasticity of demand for a good is –0.2. How will the expenditure on the good be affected if there is a 10 % increase in the price of the good?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
What does a bearer debenture mean?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
Which management principle advocates for one plan for a group of activities with the same objective?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
Explain the concepts of the short run and the long run.
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
Which of the following is an example of a financial objective of management?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
What do you mean by substitutes? Give examples of two goods which are substitutes of each other.
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
What does it mean to issue debentures at a discount and redeemable at a premium?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
What is meant by the term 'span of control'?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
What does ‘Issue of debentures for consideration other than cash’ mean?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
Which function of management involves developing an organizational structure and allocating human resources?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
What is the main focus of the 'Scalar Chain' principle in management?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
Which style of leadership does not believe in use of power unless it is absolutely essential?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
A major insurance company handled recruiting, screening, and training processes for data entry/customer service representatives. Their competitor attracted most of the qualified potential employees in the market, and recruiting was made more difficult by the strong economy and the ‘jobseeker’s market.’ This resulted in the client choosing candidates with the ‘soft’ skills needed for the job but lacking the proper ‘hard’ skills and training. How can these problems be resolved, and what would be the impact on the company?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
What is meant by a debenture?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
‘No organisation can be successful unless it fills and keeps the various positions filled with the right kind of people for the right job.’ Elucidate.
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
What is the importance of 'Proximate Cause' in insurance?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
What is the meaning of ‘Debentures issued as a collateral security’?
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
State the meaning of principles of management.
MEDIUM
Business Studies>Foundations of Business>Business Services>Insurance Services
Ms. Jayshree recently completed her Post Graduate Diploma in Human Resource Management and was appointed as the human resource manager of a large steel manufacturing company planning to expand by hiring 200 additional employees. She has been given complete charge of the company’s Human Resource Department. What potential challenges might Ms. Jayshree face in her job?