Deck 6: Service Quality Indicators, Customer Lifetime Value, and Consumer Protection Laws and Regulations

Question 1

Which One of the Following, is Not a Direct Indicator of Service-Quality?

A)Reliability
B)Empathy
C)Assurance
D)Sales Data

Answer 1

Sales Data

Question 2

Which One of the Following, is Not a Contributor, towards Customer Life-Time Value?

A)Historical
B)Present
C)Potential
D)Speculated

Answer 2

Speculated

Question 3

Choose the Correct Expand ed Form for I.G.M.S.

A)Indo-German Management School
B)Integrated Government Management System
C)Indian Genome Mapping Scheme
D)Integrated Grievance- Management System

Answer 3

Integrated Grievance- Management System

Question 4

--- are a Set of Rules and Regulations that set the Rules and Guide-Lines, to effectively address the Complaints and Grievances of Policy-Holders.

A)Complaints-Hand ling Procedures
B)Grievance-Redressal Procedures
C)Risk-Grievance Procedures
D)Damage-Grievance Procedures

Question 5

The --- has framed the Rules, known as, Redressal of Public Grievances Rules, 1998.

A)Insurance Regulatory and Development Authority (I.R.D.A.)
B)Non-Banking Finance Company (N.B.F.C.)
C)Securities and Exchange Board of India (S.E.B.I.)
D)Central Government

Question 6

The Assignment or Transfer, upon the Reasons, In- Writing, to be communicated to the Policy-Holder, Subject to such Decision being challenged, by Way of Petition, before the --.

A)Grievance-Redressal- Authority
B)Consumer-Redressal Authority
C)Seller-Redressal Authority
D)Administrative Redressal Authority

Question 7

The Insured can resolve a Dispute, by approaching the Ombudsman, under --.

A)Complaints-Hand ling Procedure
B)Grievance-Redressal Procedure
C)Risk-Grievance Procedure
D)Redressal of Public Grievances Rules

Question 8

Which of the Following, is the Main Objective of Consumer Protection Act?
(i) To Protect the Interests of the Policy-Holders.
(ii) To Protect the Interests of the Investors.
(iii) To Provide a Simple, Speedy, and In-Expensive Redressal to the Consumer-Grievances.

A)Only (i) is Correct.
B)Both: (i) and (ii), are Correct.
C)Only (iii) is Correct.
D)Both: (i) and (iii), are Correct.

Question 9

"Redressal of Public Grievances Rules, 1998", came into Force on --.

A)12th October, 1991
B)11th November, 1998
C)13th December, 1997
D)14th September, 1983

Question 10

Which of the Following, is an Objective of Redressal of Public Grievances Rules?
(i) Aim at Resolving the Complaints, Relating to the Settlement of Disputes.
(ii) Protection of Consumers' Interests.
(iii) Providing the Grievances to Consumers.

A)Only (i) is Correct.
B)Both: (i) and (ii), are Correct.
C)Only (iii) is Correct.
D)Both: (i) and (iii), are Correct.

Question 11

Which of the Following, is, a Function of Ombudsman?
(i) Redressal of Grievances to Consumer.
(ii) Protection of Consumer's Interests.
(iii) Redressal of Grievances from the Policy-Holders.

A)Only (i) is Correct.
B)Both: (i) and (ii), are Correct.
C)Only (iii) is Correct.
D)Both: (i) and (iii), are Correct.

Question 12

Which of the Following, has been recommended by Commission, that, the Grievance-Redressal Authorities (G.R.A.s) should be constituted, to deal with?
(i) Disputes between the Insured and the Insurer.
(ii) Disputes between the Insured and the Intermediaries.
(iii) Disputes between the Insurer and the Intermediaries.
(iv) Any Dispute between the Insured, the Insurer, and the Intermediaries.

A)Both: (i) and (ii), are Correct.
B)Both: (i) and (iii), are Correct.
C)Both: (ii) and (iii), are Correct.
D)Only (iv) is Correct.

Question 13

Who shall deal with the Disputes, between the Insured and the Insurer?

A)Consumer Group
B)Grievance Redressal Authorities (G.R.A.s)
C)Consumer Authority
D)Consumer Commission

Question 14

Who shall deal with the Disputes between the Insurer and the Intermediaries?

A)Consumer Authority
B)Consumer Group
C)Consumer Commission
D)Grievance-Redressal Authorities (G.R.A.)

Question 15

--- shall have No Jurisdiction in Cases, relating to Third-Party Motor-Vehicle Insurance and Marine Insurance.

A)Consumer Commission
B)Consumer Authority
C)Grievance Redressal Authority (G.R.A.)
D)Consumer Group

Question 16

Redressal of Public Grievances Rules, 1998 created the System of --.

A)Insurance Agency
B)Insurance-Surveyors
C)Insurance Ombudsman
D)Consumer Forum

Question 17

On Which Date, was, Consumer Protection Act, formed?

A)11th April, 1974
B)24th December, 1968
C)24th December, 1986
D)22nd November, 1968

Question 18

Which One of the Following, is Not an Example of Non- Verbal Communication?

A)Signaling "Okay" with a Hand -Gesture.
B)Gesturing in an Empty Room.
C)Wearing Jewellery.
D)Raising Your Voice.

Question 19

Non-Verbal Communication is made up of --.

A)Behavior, Other Than the Words, that is intended to convey a Message
B)Body-Language Actions
C)Any Instance, in which, a Stimulus, Other Than the Words, creates a Meaning in either a Sender's Mind or a Receiver's Mind
D)All Human Behavior

Question 20

Identify the Place-of-Origin of Modern-Day Insurance.

A)Vatican City in Rome
B)Hanging Gardens of Babylon
C)Lloyds Coffee House in London
D)Big Apple in New York

Question 21

Which One of the Following, can be used, to describe Insurance, in General?

A)Providing the Subsidies to the Poor.
B)Betting of People's Losses.
C)Generating the Profits from Other's Losses.
D)Sharing of the Losses of a Few, by Many.

Question 22

The Inhabitants of Rhodes adopted a Practice, where- by, if Some Goods were lost due to Jettisoning, during Distress, the Owners of Goods (even those who lost Nothing) would bear the Losses in Some Proportion. Which Phenomenon is illustrated, in this Scenario?

A)Capitalism
B)Socialism
C)Mutual Insurance
D)Tyranny

Question 23

Illustrate the Principle of Pooling, in Relation to Insurance.

A)Gathering the People, Having Similar Assets, and Exposed to Similar Risks.
B)Gathering the People, Having Different Types of Assets, and Exposed to Different Risks.
C)Gathering the People, Having Similar Types of Assets, but Exposed to Different Risks.
D)Gathering the People, Having Different Types of Assets, but Exposed to Similar Risks.

Question 24

In the Olden Days, Chinese Traders used to keep their Goods in Different Boats, while sailing through Treacherous Waters. Analyse, Why?

A)Chinese Boats were Small, and they carried Heavy Goods.
B)The Chinese Government mand ated that, Goods should be distributed among Multiple Shipping Companies, so that, there is Equal Distribution of Business.
C)Chinese Traders placed their Goods in Multiple Boats, because it provided Insurance against Total Loss.
D)Chinese Traders placed their Goods in Multiple Boats, because it was Cheap.