NTA UGC NET/JRF Exam, December 2022 (Commerce) Shift-II

Explanation : A contract of life insurance is a contingent contract, because insurer pays a certain amount if the insured dies, under certain conditions. The insurer is not called into action until the death of the insured happens.
A life insurance contract is referred to as an assurance contract because the insurance company guarantees a certain amount of compensation in the event of the insured's death.

Following statements are rightly expressed in relation to statistical testing :
(i) When the expected frequencies are too small, the value of χ² will be overestimated and will result in too many rejections of the null hypothesis
(ii) Kruskal-Wallis test is similar to one-way analysis of variance.
(iii) Student's t-Distribution is by definition normal

There are five stage in Group Building process i.e. forming stage, storming stage, norming stage, performing stage and adjourning stage.
Performing stage of the group building process has the following distinctive characteristics i.e. The group gains its identity, Group morale is high, Group loyalty is intense, the work become more flexible.

BCG matrix is also known as Boston Consulting Group matrix, it is (2 × 2) matrix which is developed by the Boston Consulting Group, USA. It provides a framework for analyzing products according to growth and market share.
BCG GROWTH - SHARE MATRIX

Personnel replacement charts and Markov Analysis are the tools used for forecasting the supply of inside candidates for human resource planning.
Personnel replacement charts are used for forecasting future vacancies in particular roles. In this, company records showing present performance and promotion potential of inside candidates for important position. It is prepared for each position in a company to show possible replacement candidates and their qualifications.
In Markov analysis a matrix is created that shows the probabilities that employees in the chain of feeder position for key job will move from position to position and therefore be available to fill the key position.

The correct statements are :-
• IMPS allows to transfer funds in an Insta Payment Mode
• Instant Real Time Payment System developed by National Payment Corporation of India is UPI
The incorrect statements in correct manner :-
• In NEFT, there is no minimum or maximum amount required to make transactions from one bank account to another.
• The minimum limit to transfer funds via RTGS is 2 lakhs.
• For clearing of cheques under positive pay system (PPS), the minimum limit is 5 lakh and above.

The correctly expressed statements in relation to capital and credit flows are :-
(i) Theoretically, regulators of financial markets believe that increasing capital requirements on banks could reduce the likelihood of their failure
(ii) Financial inflow reflects the net flow of capital into one country in the form of increased purchases of domestic assets by foreigners
(iii) Tier II Capital for banks include Perpetual Debt Instruments

 Holistic marketing includes the following components :-
• Relationship marketing
• Integrated marketing
• Internal marketing
• Performance marketing
According to Philip Kotler, The Holistic Marketing concept is based on the development, design and implementation of marketing programs, processes and activities that recognizes their breadth and interdependencies.

According to “Kotler and Armstrong”-
"Undertaking marketing activity through various advertising media that interact directly with consumers, generally calling for a consumer to make a direct response is known as direct marketing."

The true statements for Direct Marketing are :-
• Direct marketing is an interactive mode of marketing
• Globalisation of markets and the internet have facilitated the growth of direct marketing
• Direct marketing activities are not location specific

An ideal advertisement and campaign would ensure that :
(i) The ad motivates consumers to consider purchases of the brand.
(ii) The ad causes the consumer to pay attention but does not distract from the intended message.
(iii) The ad properly reflects the consumer’s level of understanding and behaviours with the product and brand.
(iv) The right consumer is exposed to the right message at the right place and the right time.