NIOS CLASS 12TH Business Studies (319) SOLVED TMA In English Medium PDF SESSION 2024 - 25

Q 1. (b) Describe any two principles of a valid insurance contract.
Answer - There are two key principles of a valid insurance contract:-

1. Principle of Utmost Good Faith: Both the insurer and the insured must be honest and share all important information. The person getting insurance must tell the truth about the risks, and the insurance company must be clear about the policy terms.

2. Principle of Insurable Interest: The person getting insurance must have a financial interest in what they are insuring. This means they would suffer a financial loss if something happened to the insured item or person. Without this, the insurance contract isn't valid.

Q 2. (a) Management helps in efficient and effective use of available resources of an organisation. State any two Objective of management.
Answer - There are two objectives of management:

1. Achieving Organizational Goals: Management helps ensure that all parts of the organization work together to reach its goals, like increasing profits or expanding the business.

2. Efficient Use of Resources: Management makes sure that resources like time, money, and manpower are used wisely to avoid waste and get the best results from them. 

Q 3. (a) Mr X is your friend and wants to do marketing. Mention any two ways in which Marketing helps in making products available irrespective of time and place.
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Q 4. (a) "Consumer protection has a vast agenda. Mention the importance of consumer protection from the consumers' point of view.

Q 5. (a) You want to apply in XYZ Company and you need to provide Bio Data to the company. Mention any four points mandatory in your bio-data to apply for job. 

Q 6. (b) Rajesh runs a tailor shop successfully. With time his clients are increasing. Now he wants to expand his business and open a retail shop for readymade garments. He wants to offer his friend, Kamal a partnership in his business. Name the form of Business Organisation and express your views with main points.
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