Previous Year Question Paper with Answer of “Banking & Insurance- Code 411” for Class 10 NSQF Vocational , CBSE Session 2019-2020.

Banking & Insurance (Subject Code: 411)

Previous Year Solved Question Paper for Class 10 Session 2019-20

Max. Time: 2 Hours                                                                                   Max. Marks: 50

SECTION A: OBJECTIVE TYPE QUESTIONS

1. 1 Answer any 4 out of the given 6 questions on Employability Skills ( x 4 = 4 marks)

i. You need to apply leave at work? Which method of communication will you use? (a) e-mail

(b)          Poster

(c)           Newsletter

(d)          Blog      

ii. What makes you complete work or studies without others cheering you? (a) Self-confidence

(b)          Communication

(c)           Self-motivation

(d)          Self-esteem

iii. Which one of the following is full form of SMART, in relation to Goal setting?

(a)          Specific, Measurable, Achievable, Realistic, Time bound

(b)          Specific, Miser, Achievable, Realistic, Time bound

(c)           Specific, Measurable, Achievable, Reliable, Time bound

(d)          Specific, Measurable, Achievable, Realistic, Terrific

iv. Name the place where deleted files are placed.  

Entrepreneurs identify a need in the market and build a product or service for it.

a) True

b) False

v. How many sustainable development goals are given by the United Nations?

(a)          18

(b)          17

(c)           15 (d)    20            

2 Answer any 5 out of the given 6 questions (1 x 5 = 5 marks)

i   A cheque becomes stale after expiry of how many months from the date of the cheque?

a) 3 months

b) 6 months

c) 9 months

d) 12 months

ii   Inchoate negotiable instruments mean ___         

iii  Cheque which is not crossed is a ____ cheque.  

iv   Advances against shares and mutual funds is provided ____ of the market value a) 50 %

b) 60%

c) 75 %

d) 90 %

v              Cardinal Principle of good lending is _____.         

vi            In case of personal loans, Bank insist on ____ or ____ before granting the loan.                 

3                Answer any 5 out of the given 6 questions (1 x 5 = 5 marks)         

                i               __________ is an example of Secured loan.

                ii              In case of personal loan, ____ security is taken by the Bank.         

iii            In a housing loan, the rate of interest is a) fixed

1. b) floating
2. c) any one of the above
3. d) None of above  

iv             Internet Banking may be used for payment of _______and ______.

 v              ________provides facilities to keep personal valuables like will property papers and Jewellery.     

vi             Banks charges ___ for the issuance of Demand.  

4 Answer any 5 out of the given 6 questions (1 x 5 = 5 marks)  

i   What does NEFT stands for?

a) National Economic Fund Transfer

b) National Electron Fund Tenor

c) National Electronic Fund Transfer

ii              Minimum amount that can be transferred through RTGS is Rs ________________.

iii            Indian Financial System Code is

a) Alpha numeric 11 digit code

b) Numeric code 11 digit code

c) Alpha numeric 8 digit code

d) Numeric code 8 digit code

iv             Money called______ has to be paid in advance by the Insured to the Insurer.

v              ‘It is possible to value human life.’ Is the statement correct? a) True b) False        

vi             The first step towards taking a Life Insurance Policy to fill up a ____________ form Providing requisite information about the person desirous of taking the policy.           

5                Answer any 5 out of the given 6 questions (1 x 5 = 5 marks)

i               The issue of having regular income during old age is taken care off by ___________ Policies.

1. a) Endowment
2. b) Benefit
3. c) Annuity
4. d) Regular Income

ii             In case of a contributory scheme the premium on group life insurance policy is paid both by the _____ & the ____________

a) Insured, Insurer

b) Insured, Nominee

c) Insured, Assignee

d) Employer, Employee.  

iii            Life Insurance provides dual advantage of coverage of risk of life and investment. State whether this statement is:

a) True

b) False  

iv            Fire Insurance is an Insurance wherein the Insurer covers the loss incurred by the Insured due to destruction of ________ or ___________ caused by fire.        

v              The theft insurance policy would generally not cover the losses/ damages due to acts involving ___________ & employees of the insured.

a) Associates

b) Friends

c) Family Members

d) Nominees  

vi            Personal Accident Policy does not cover death or injury due to _________ a) Murder 

b) Suicide

c) Homicide

d) Illness or disease.  

SECTION B: SUBJECTIVE TYPE QUESTIONS

Answer any 3 out of the given S questions on Employability Skills (2 x 3 = 6 marks) Answer each question in 20 — 30 words.

What do you think is the most important function of an entrepreneur?

Write your answer giving suitable examples.  Explain the importance of education towards sustainable development.

6 What do you mean by feedback?

7 What is Stress?

8 List the various ways you can use to protect your data.

9 What do you think is the most important function of an entrepreneur? Write your answer giving suitable examples.

Q.10 What do you think is the most important function of an entrepreneur? Write your answer giving suitable examples.  Explain the importance of education towards sustainable development.

Answer any 4 out of the given 6 questions in 20 — 30 words each (2 x 4 = 8 marks)

11 What is cheque?

12 Briefly explain the term loan against gold.

13 State the advantages of using Demand draft?

14 What is the need for Bank lockers?

15 What are Child policies?

16 State the meaning of term Health insurance.

Answer any 3 out of the given 5 questions in 50— 80 words each (4 x 3 = 12 marks)

17 Explain any four characteristics of Bill of exchange?

18 State any four features of term loan.

Q.19 What are the security issues in e banking?

20 Explain any four advantages of life insurance?

21 Briefly explain the risks covered under General insurance.

ANSWERS

SECTION A: OBJECTIVE TYPE QUESTIONS

1 Answer any 4 out of the given 6 questions on Employability Skills (1 x 4 = 4 marks)        

i               (a) E-mail              

ii              (c) Self-motivation            

iii            (a) SMART= Specific, Measurable, Achievable, Realistic, Time bound          

iv             (b) New -> Folder              

v              True        

vi             (b) 17     

2 Answer any 5 out of the given 6 questions (1 x 5 = 5 marks)  

i               a) 3 months         

ii              Incomplete instrument  

iii            open       

iv             a) 50 %  

v              Safety first            

vi             Co borrower or guarantor              

3 Answer any 5 out of the given 6 questions (1 x 5 = 5 marks)        

i               Home Loan          

ii              No or zero,           

iii            b) floating             

iv             Bills, Insurance Premium, card payment                  

v              Bank Locker         

vi             Commission         

4 Answer any 5 out of the given 6 questions (1 x 5 = 5 marks)  

i               c) National Electronic Fund Transfer          

ii              200,000                 

iii            a) Alpha numeric 11digit code     

iv             Premium               

v              False       

vi             Proposal                

5 Answer any 5 out of the given 6 questions (1 x 5 = 5 marks)  

i               Annuity                 

ii              Employer, Employee.      

iii            True        

iv             Property, Goods                

v              (c)Family Members          

vi             (d) Illness or disease        

SECTION B: SUBJECTIVE TYPE QUESTIONS

Answer any 3 out of the given 5 questions on Employability Skills (2 x 3 = 6 marks) Answer each question in 20 – 30 words.

6 For effective communication, it is important that the sender receives an acknowledgement from the receiver about getting the message across. While a sender sends information, the receiver provides feedback on the received message.              

7 Stress can be defined as our emotional, mental, physical and social reaction to any perceived demands or threats.                 

8 Anti-virus, Using original software

9 Create A New Method, Idea or Product:  An entrepreneur is always trying new things       

10 Education helps us become aware of our role as a responsible citizen. We should

1. Use the facilities present in our areas.
2. Take our friends to school.

Answer any 4 out of the given 6 questions in 20 – 30 words each (2 x 4 = 8 marks)

11 Cheque is a bill of exchange drawn on a specified banker and not expressed to be Payable otherwise than on demand.               

12 The most popular type of secured loan in India is ‘Gold Loan’. Loan to Value Means the amount of loan that can be granted against the value of the asset (in this case gold).  

13 In Demand draft as the Bank is the drawer, payment is certain, and it cannot be dishonored           

14 Bank Lockers provides facilities to keep personal valuables like will property papers and jewelry.  

15 Policies taken on the life of the parent/child for the benefit of the child. Some Insurers offer waiver of premium in case of unfortunate death of the parent/proposer during the term of the policy.          

16 The Health Insurance or Medi Claim Policies, as it is also referred to, are those policies which cover hospitalization expenses for the treatment of illness/ injury as per the terms and conditions of the policy                 

Answer any 3 out of the given 5 questions in 50– 80 words each (4 x 3 = 12 marks)

17 Features are:

1. Easily and freely transferable
2. Must be in Writing
3. Certain Amount
4. Certain time

18 Features of Term loan:

1. Security
2. Obligation
3. Interest
4. Restrictive Covenants

19 Security Issues in e-banking:

1. fraudulent websites
2. Fake emails
3. phishing and pharming
4. Cross-site scripting and key logger  

20 Advantages of Life insurance:

1. Risk Cover
2. Planning Life Stage Needs
3. Habit of Saving
4. Safety of Investment  

21 Risk covered under General Insurance:

1. Damage to property due to fire, theft etc.
2. Injury to a person due to Accident.
3. Illness of a person
4. Legal liabilities arising out of claims made by third parties