Author name: Administrator

1445. First step in estimation of cost function by using quantitative analysis is to

choose price estimation method
choose dependent variable
choose independent variable
choose cost estimation method
✅ The correct answer is B.
First step in estimation of cost function by using quantitative analysis is to choose dependent variable. A dependent variable is what you measure in the experiment and what is affected during the experiment. The dependent variable responds to the independent variable. It is called dependent because it “depends” on the independent variable.

1447. The difference between the actual price and excess price of a share is called as ____________.

Discount
Forfeiture
Premium
Surplus
✅ The correct answer is C.
The difference between the actual price and excess price of a share is called as Premium. The share premium account represents the difference between the par value of the shares issued and the subscription or issue price. Share premium account may also be known as additional paid-in capital and can also be called paid-in capital in excess of par value.

1448. Identify two most important and basic qualities for a good and successful agent.

Self-respect and high knowledge
Empathy and ego drive
Wealth and desire to increase it through life insurance agency
Blessings of elders and help from bosses
✅ The correct answer is B.
Empathy and ego drive are two most important and basic qualities for a good and successful agent. Someone with poor empathy can also have any level of ego drive. Yet, as determinants of sales ability, empathy and ego drive act on and, in fact, reinforce each other. The person with strong ego drive has maximum motivation to fully utilize whatever empathy he possesses.

125. Petty cash balance is

Liability
Income
Expense
Asset
✅ The correct answer is D.
Petty cash balance is Asset. The petty cash amount may appear as the first or second item listed in the current asset section of the balance sheet.

1454. A firm’s average total cost of production is Rs.300 at 5 units of output and Rs.320 at 6 units of output. The marginal cost of producing the 6th unit is

Rs.20
Rs.120
Rs.320
Rs.420
✅ The correct answer is D.
The answer is Total cost for producing 5 units = 300 x 5 = 1500.

Total cost for producing 6 units = 320 x 6 = 1920
Therefore, Marginal cost for producing the 6th unit = 1920-1500 = 420.

This is a mathematical part that is used for the calculation of economics. At the same time, this also talks about production, and average rate of per unit. Wlso, the marginal cost involved for the total production is also taken into account.

1456. Defined Contribution scheme is also known as –

Pension purchase scheme
Postpone and purchase scheme
Switch and purchase scheme
Money purchase scheme
✅ The correct answer is D.
Defined contribution (DC) schemes are occupational pension schemes where your own contributions and your employer’s contributions are both invested and the proceeds used to buy a pension and/or other benefits at retirement.

1438. What is the time for approaching an insurance ombudsman?

Within two years of rejection of the complaint by the insurer
Within three years of rejection of the complaint by the insurer
Within one year of rejection of the complaint by the insurer
Within one month of rejection of the complaint by the insurer
✅ The correct answer is C.
Within one year of rejection of the complaint by the insurer can approach an insurance ombudsman.
Scroll to Top