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GK Questions 2nd September 2017 PJH: Daily GK Quiz for All Upcoming Exams

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GK Questions 2nd September 2017 PJH

GK Questions 2nd September 2017 PJH

Our team of PJH has updated GK Questions of 2nd September 2017 for our readers that summarize all the important events of the national and international news, sports, economics and all other importance agendas that will prove to be very useful for the aspirants.  This page has been covered by today’s current affairs and Daily GK Quiz for candidates who wish to get success in any entrance / competitive exam. So, aspirants may acquire latest news to Answers the questions easily in the upcoming examination. Applicants can check latest MCQ and GK quiz questions answers in concern of September Current Affairs 2017, on the below section of this page. Before appearing in any exam, you must have complete knowledge about current issues which are happened in world wide.

Along with Current Affairs Key Highlights, we have also mentioned Latest GK Objective Questions, MCQ, and Online Quiz on this single page. Candidates should have complete knowledge of current affairs to clear any state level competitive exam. Now you can get knowledge related to daily Current Affairs and question answers easily through this page as provide daily GK Questions for our visitors which will help them in their examination. Look below to prepare well in any competitive exam and to enhance your knowledge. You may get detailed information about GK Questions 2nd September 2017 by scrolling down this page by the team members of www.privatejobshub.in

Daily Current Affairs Updates
  • ISRO’s IRNSS-1H navigation satellite launch was unsuccessful
  • Joint Proposal by India & China in WTO on Aggregate Measurement of Support (AMS)
  • BRICS Innovative Competitiveness Report 2017
  • Government to release new industrial policy
  • Arunachal Pradesh, J&K are fastest growing economies: Central Statistics Office
  • Union Cabinet approves equivalence of posts in PSUs, Banks, Insurance companies
  • India, Switzerland sign two MoUs for technical cooperation in Railways
  • Joint Proposal by India & China in WTO on Aggregate Measurement of Support
  • Sri Lankan Selectors stepped down after humiliating defeat
  • Deadline for linking Aadhaar with PAN extended till 31 December 2017

GK Questions 2nd September 2017 PJH

General Knowledge Questions with Answers

Question 1: Which of the following is an example of Broad Form Insurance?

A.    Mortgage insurance
B.    Automobile insurance
C.    Liability insurance
D.   Property insurance
E.    None of these

Answer: B

Explanation:

An automobile insurance is an example of Broad Form Insurance .A customer may require glass insurance as the driver is frequently on the highway and obtains a lot of chips in the front window.

Question 2: Which policy referring to policies that provide coverage only for loss caused by the perils?

A.    Specifies perils
B.    Named Perils
C.    All Risk
D.   All perils
E.    None of these

Answer: B

Explanation:

Named Perils is a property insurance term referring to policies that provide coverage only for loss caused by the perils specifically listed as covered.

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Question 3: Which type of insurance usually requires higher premium?

A.    Broad Form insurance
B.    Whole life insurance
C.    Health insurance
D.   Term insurance
E.    None of these

Answer: A

Explanation:

‘Broad Form Insurance’ is an Insurance coverage that extends beyond the basics to include rare events that may be of serious risk to the insured. This type of insurance usually requires that a higher premium, and often a deductible, be paid

Question 4: What is PAC ?
A.    Post-Authorized Cheque
B.    Pre-Authorized Chequing
C.    Process-Authorized Chequing
D.   Pre-Authorized Checking
E.    None of these

Answer: B

Explanation:

Pre-Authorized Chequing is an authorization by the insured to allow the Insurance Company to automatically withdrawal their insurance payments from their chequing account.

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Question 5: Which of the following form is designed to be used by many different insurers and has exactly the same provisions?

A.    Guaranteed Replacement Form
B.    Standard insurance Form
C.    Standard Endorsement Form
D.   Standard Policy Form
E.    None of these

Answer: D

Explanation:

Standard Policy Form is an insurance policy form that is designed to be used by many different insurers and has exactly the same provisions, regardless of the insurer issuing the policy.

Question 6: A method of valuing insured property, or the value computed by that method is known as

A.    Actual cost validity
B.    Actual cash value
C.    Replacement cash value
D.   Normal cost value
E.    None of these

Answer: B

Explanation:

Actual Cash Value (ACV) is a method of valuing insured property, or the value computed by that method. Actual Cash Value (ACV) is not equal to replacement cost value (RCV). ACV is computed by subtracting depreciation from replacement cost.


Question 7: _____________ is the maximum amount an insurance company will pay if an insured asset is deemed a total loss.

A.    Insurance value
B.    Actual value
C.    Replacement value
D.   Guaranteed Replacement Cost
E.    None of these

Answer: A

Explanation:

Define insurance value is the maximum amount an insurance company will pay if an insured asset is deemed a total loss.

Question 8: SEF is abbreviated as _____________________

A.    Standard Endorsement Form
B.    Secure Endorsement Form
C.    Standard Envelope Form
D.   Standard Endorsement Fair
E.    None of these

Answer: A

Explanation:

SEF – Standard Endorsement Form Can be added to an Automobile Insurance policy and serve the purpose of either adding or removing coverage from the policy.


Question 9: Which of the following is a combination of insurance as well as investment?

A.    Money back policy
B.    Endowment plan
C.    Unit Link Insurance Plan
D.   Mutual Funds
E.    None of these

Answer: C

Explanation:

Unit Link Insurance Plan is basically a combination of insurance as well as investment, while mutual funds are a pure investment avenue


Question 10: Investment in ULIPs is related to which section of the Income Tax Act ?

A.    1.58C
B.    2.65B
C.    3.78A
D.   4.80C
E.    5.None of these

Answer: D

Explanation:

Investment in ULIPs is eligible for tax benefit up to a maximum of Rs 1.5 lacs under Section 80C of the Income Tax Act.


Question 11: _______________ is a component of customer satisfaction

A.    Cost price
B.    Value price
C.    Transfer price
D.   Fair price
E.    None of these

Answer: D

Explanation:

Fair price is a component of customer satisfaction. Fair market price is the price of something at which both a seller and a buyer are willing to strike a deal.


Question 12: The consumer of a bank comes under ____________ environment

A.    Internal
B.    Direct
C.    Indirect
D.   External
E.    None of these

Answer: D

Explanation:

An external environment is composed of all the outside factors or influences that impact the operation of business. The business must act or react to keep up its flow of operations. The external environment can be broken down into two types: the micro environment and the macro environment.

Question 13: ______________ is the smallest retailing unit

A.    Convenience store
B.    Grocery store
C.    General store
D.   Departmental store
E.    None of these

Answer: A

Explanation:

A convenience store is a small retail business that stocks a range of everyday items such as groceries, snack foods, confectionery, soft drinks, tobacco products, over-the-counter drugs, toiletries, newspapers, and magazines

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Question 14: Marketing mix is a combination of factors that can be controlled by 

A.    Consumers
B.    Customers
C.    Company
D.   All of these
E.    None of these

Answer: B

Explanation:

Marketing mix is a combination of factors that can be controlled by a company to influence consumers to purchase its products.

Question 15: Planned cost service means __________

A.    Extra profit on the same cost
B.    Extra profit on the price cost
C.    Extra profit on the selling cost
D.   Extra profit on the market cost
E.    None of these

Answer: A

Explanation:

Planned cost service means extra profit on the same cost

Question 16: What is HNI?
A.    Highly Needed Incentives
B.    Highest Net Income
C.    Human Narrow Innovation
D.   High Networth Individuals
E.    None of these

Answer: D

Explanation:

High net worth individual (HNI) is a classification used by the financial services industry to denote an individual or family with high net worth.


Question 17: In Double-Win strategy, the salesperson and customers are personally and professionally satisfied with the ___________

A.    Income of sale transaction
B.    Outcome of sale transaction
C.    Passive income
D.   Portfolio income
E.    None of these

Answer: B

Explanation:

Double-win strategy refers to the use of win-win approach where salesperson and customers are personally and professionally satisfied with the outcome of sale transaction.

Question 18: Which of the following is the most powerful marketing channel ?

A.    Advertising
B.    Ongoing Marketing
C.    WOM marketing
D.   Immediate Marketing
E.    None of these

Answer: C

Explanation:

Word-of-mouth marketing (WOMM, WOM marketing), also called word of mouth advertising, differs from naturally occurring word of mouth, in that it is actively influenced or encouraged by organizations (e.g. ‘seeding’ a message in a networks rewarding regular consumers to engage in WOM, employing WOM ‘agents’).


Question 19: ______________ is an income generated by selling an investment at a higher price than you paid for it
A.    Gain
B.    Portfolio
C.    Profit
D.   Earning
E.    None of these

Answer: B

Explanation:

Portfolio income is any income generated by selling an investment at a higher price than you paid for it. Some people refer to portfolio income as “capital gains,” because that’s how the money is taxed by the federal government.

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Question 20: Rental income is an example of _________________

A.    Passive income
B.    Profit income
C.    Ongoing income
D.   Portfolio income
E.    None of these

Answer: A

Explanation:

Passive income is money you get from assets you have purchased or created. For example, if you were to buy a house and rent it out for more money than it costs you to pay your mortgage and other expenses, the profit you make would be considered passive income


Final Words:

Here all updates of September 2017 are furnished in this page. Candidates can go through toady’s current affairs and GK questions and answers which are prepared for our readers. Our team provides daily GK questions, students can prepare for their exam with the help of this page as they will get all updates from one single page they don’t need to search here and there for any updates.

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