Business Studies June exam P2 (Easy)

What is the amount paid by the insured to the insurer for the coverage provided by the policy?

Which insurance type is mandated by law for businesses and individuals in certain situations?

What principle ensures that the insured is compensated for the financial loss suffered, to the extent of the loss?

What is used to calculate compensation when an asset is under-insured?

Which insurance concept involves compensating individuals injured in road accidents for medical expenses?

What insurance type covers damage or loss of business property due to events like fire and theft?

What concept ensures that the insured must have a legal or financial interest in the object of insurance?

In cases of over-insurance, what may the insurer choose to do instead of paying out the claim in cash?

What type of insurance is designed to provide a minimum level of protection for employees and the public?

What ethical principle expects both parties involved in an insurance policy to act honestly and disclose all relevant material facts?

What is the main purpose of investment opportunities in the dynamic world of business ventures?

What is the Johannesburg Securities Exchange (JSE) primarily known for?

What does direct business investment involve?

What do unit trusts allow investors to do?

What types of shares are mentioned in the text?

Why is it essential for individuals and businesses to understand investment opportunities?

What is the main difference between problem-solving and decision-making?

Which technique utilizes iterative rounds of questionnaires to reach a consensus?

What is the essence of creative thinking in the workplace?

Which step comes immediately after evaluating alternatives in the problem-solving process?

Which technique combines individual idea generation with collective decision-making?

What is a key benefit of creative thinking in the workplace?

What is a key characteristic of successful teams according to the text?

Why is conflict management important in a team setting?

What is the purpose of self-assessment and team performance assessment as mentioned in the text?

Which model is suggested in the text for conflict management?

What kind of environment fosters creative thinking according to the text?

How should grievances be addressed within a team according to the text?

Why is mastering creative thinking and problem-solving essential for businesses?

What should teams focus on to achieve specific objectives according to the text?

Which of the following is NOT a type of difficult personality mentioned in the text?

What role do clear objectives play in effective teamwork according to the text?

What type of investment is characterized by offering fixed returns and is suitable for individuals looking to preserve capital?

Which type of interest is calculated on the principal amount only, without interest on interest?

What fundamental factor should inform investment decisions by considering factors such as ROI, risk, inflation, and liquidity?

Which investment option provides professional management to reduce risk through diversification?

What investment strategy involves investing in startups or expanding businesses with high risk but potential substantial returns?

Which of the following is a long-term, low-risk investment option aimed at building wealth over time?

How does the relationship between risk and return impact investment decisions?

'Stocks can provide high returns but with increased risk.' Which investment principle does this statement illustrate?

What is the common characteristic of government bonds and debentures as mentioned in the text?

Which factor determines the choice of investment according to the text?

What does ethical behavior in business refer to?

Which of the following is an example of unethical business practices?

What does professionalism in business extend beyond?

What is one way organizations can foster ethical and professional environments?

What is the relationship between ethical and professional behavior?

Which factor plays a significant role in maintaining ethical and professional standards in businesses?

What does professional behavior entail?

How can businesses address challenges in maintaining ethical and professional standards?

What does unethical business practices involve?

How can organizations encourage ethical behavior among employees?

What is the primary function of the Johannesburg Securities Exchange (JSE)?

What is the main purpose of unit trusts as mentioned in the text?

Which type of investments involve purchasing shares directly in businesses?

What distinguishes ordinary shares, preference shares, bonus shares, and founders' shares?

Which of the following is NOT an example of an investment opportunity mentioned in the text?

What is the primary purpose of ethical behavior in the business context?

Which is considered an example of professional behavior in business?

How can organizations foster ethical and professional environments according to the text?

What does professionalism encompass in the business context?

Why is ethical behavior considered the foundation for professional behavior?

What is a common challenge businesses face in maintaining ethical and professional standards?

In what way can businesses address challenges related to maintaining ethical and professional standards?

What can organizations do to ensure individuals at all levels are accountable for their actions?

Why is leadership by example a crucial strategy for fostering ethical and professional behavior in organizations?

What role do ethics committees play in organizations' efforts to maintain ethical and professional standards?

What is a key characteristic of successful teams according to the text?

What is a common reason for conflict arising in team dynamics?

Which technique is suggested in the text for addressing grievances within a team?

What is the main focus of self-assessment and team performance assessment as described in the text?

Why is conflict management essential in a team setting according to the text?

Which type of difficult personality is NOT mentioned in the text?

What is the purpose of compulsory insurance in business?

Which insurance concept ensures that the insured must have a legal or financial interest in the object of insurance?

What type of insurance is NOT mandated by law but is crucial for protecting businesses against various risks?

What does the Average Clause in insurance policies calculate in cases of under-insurance?

What principle ensures that the insured is compensated for the loss to the extent of the financial loss suffered, no more, no less?

Which type of insurance covers legal and court costs of defending any claims of bodily harm caused by defective products?

What role does insurance play in business sustainability?

What is the critical role of ethics and professionalism in business practices?

What does Over-insurance in insurance policies refer to?

What is the main purpose of insurance for businesses?

Which type of interest is calculated on the principal amount only, without any interest on interest?

What is the fundamental relationship between risk and return in investment decisions?

Which investment option involves low-risk savings with slightly higher returns than regular accounts but less liquidity?

What is the main goal of investing in mutual funds or stokvels?

What characteristic distinguishes managed portfolios as an investment option?

Which investment strategy involves investing in startups or expanding businesses with high risk but potential substantial returns?

What principle ensures that the insured must have a legal or financial interest in the object of insurance?

Compound interest differs from simple interest in that it:

What distinguishes problem-solving from decision-making?

Which step follows 'Evaluate Alternatives' in the problem-solving process?

What technique combines individual idea generation with collective decision-making for problem-solving?

What is the primary purpose of fostering a creative workplace environment?

Which is a benefit of fostering creative thinking in the workplace?

What is a potential drawback of using the Delphi Technique for problem-solving?

Why is recognizing and rewarding creativity important in an organization?

'Brainstorming' is a technique used to:

How can organizations improve team collaboration according to the text?

What type of financial instruments are bought and sold on the Johannesburg Securities Exchange (JSE)?

What distinguishes different types of shares, as mentioned in the text?

What is the main focus of unit trusts according to the text?

Which type of investment involves individuals directly purchasing shares of businesses?

What is one of the primary purposes of the Johannesburg Securities Exchange (JSE) as per the text?

In which platform can businesses raise capital by selling securities?

What is the primary purpose of ethical behavior in a business context?

Which action is an example of unprofessional business practices?

How can organizations foster ethical and professional environments according to the text?

Which of the following is an effective strategy for addressing challenges in maintaining ethical and professional standards?

What role does ethical behavior play in relation to professional behavior?

What is a key characteristic of professionalism in business?

What distinguishes unethical business practices from ethical ones?

How do organizations ensure individuals at all levels are held accountable for their actions?

What can businesses do to foster a professional environment?

Why are ethical and professional behaviors integral to the success of any business?

What is the key difference between problem-solving and decision-making?

Which technique involves examining driving and restraining forces to evaluate the viability of a change initiative?

What is the primary benefit of fostering creative thinking in the workplace?

Which step in the problem-solving process involves executing the chosen solution effectively?

What does the Delphi Technique involve?

Why is providing resources and dedicated time important for fostering creativity in the workplace?

What is a critical aspect of fostering an environment conducive to creativity in the workplace?

Which technique combines individual idea generation with collective decision-making?

What role does creativity play in enhancing problem-solving capabilities in businesses?

How does recognizing and rewarding creativity benefit organizations in a business context?

What is the purpose of the Average Clause in insurance policies?

Which insurance type is mandated by law for businesses and individuals in certain situations?

What principle ensures that both parties, the insurer and the insured, are expected to act honestly and disclose all material facts relevant to the insurance policy?

What distinguishes Over-insurance from Under-insurance in insurance policies?

What is the critical role of Indemnity in insurance policies?

Which clause is used to calculate compensation when an asset is under-insured?

What does Insurable Interest ensure in insurance?

What is the primary purpose of Liability Insurance?

What is the fundamental relationship between risk and return in investment decisions?

What distinguishes compound interest from simple interest?

In the context of investment opportunities, what does a '32-Day Notice Account' offer?

Which type of investment provides diversified management by professionals, reducing risk through diversification?

What purpose do government retail bonds primarily serve for individual investors?

How do mutual funds and stokvels differ from other investment opportunities mentioned?

What type of investment is known for offering low-risk savings with slightly higher returns than a regular savings account?

How do endowments and retirement annuities differ from other investment options mentioned?

Managed Portfolios are attractive for investors primarily due to their:

Government Retail Bonds are preferred by individuals looking to:

What is a crucial element for successful team performance according to the text?

Which conflict resolution strategy involves using the Thomas-Kilnmann model according to the text?

What is a vital step in dealing with difficult personalities in a team setting?

What is an essential characteristic of successful teams as outlined in the text?

Which of the following is NOT mentioned as a type of difficult personality in the text?

What key factor is emphasized in conflict management for maintaining a productive team environment?

What does self-assessment and team performance assessment aim to achieve according to the text?

Why are clear objectives considered vital for effective teamwork according to the text?

What methodical approach is outlined to address employee complaints in dealing with difficult personalities?

What key element is highlighted for successful team performance in conflict management according to the text?

What is the main function of the Johannesburg Securities Exchange (JSE) according to the text?

What distinguishes ordinary shares from preference shares in direct business investments?

Why is understanding various investment opportunities crucial for individuals and businesses?

What distinguishes unit trusts from direct business investments in terms of management?

Which type of shares offers priority in dividend payments but usually lacks voting rights?

What is the primary purpose of businesses raising capital through securities on the JSE?

What is one key difference between ethical behavior and professional behavior in a business context?

Which unethical business practice involves avoiding taxes and providing false financial reports?

How can organizations encourage ethical and professional behavior through leadership?

What is a key strategy for organizations to ensure accountability for actions at all levels?

Which practice demonstrates unprofessional behavior in a business setting?

What impact can unethical behavior have on a business's reputation?

How can organizations address challenges related to maintaining ethical and professional standards?

What does professionalism encompass beyond ethical behavior?

Why is ethical behavior considered the foundation for professional behavior in business?

What is a common consequence of unethical business practices?

What role does insurance play in business sustainability according to the text?

What principle expects both parties involved in an insurance policy to act honestly and disclose all relevant material facts?

What type of insurance is designed to provide compensation to employees injured at the workplace?

What can happen when an asset is over-insured in an insurance policy?

Which investment strategy involves high risk but potential substantial returns?

In insurance, what does the Average Clause calculate when an asset is under-insured?

What type of insurance covers legal costs of defending claims for bodily harm caused by defective products?

What is the key difference between problem-solving and decision-making?

What does fostering an environment conducive to creativity in the workplace involve?

In problem-solving, what does the 'Delphi Technique' primarily utilize?

What is a critical aspect of applying problem-solving techniques in businesses?

What is the primary purpose of the 'Force Field Analysis' technique?

Why is recognizing and rewarding creativity important in organizations?

What type of thinking is crucial for adapting to change and maintaining a competitive edge?

What is a common characteristic of techniques like Brainstorming, Force Field Analysis, and Nominal Group Technique?

What is the main focus of techniques such as Brainstorming and Nominal Group Technique?

Why does the text emphasize the importance of understanding the distinction between problem-solving and decision-making?

What are some characteristics of successful teams according to the text?

Why is conflict management considered crucial in team dynamics?

What is the purpose of grievance procedures in dealing with difficult personalities?

Which type of personalities might be challenging to deal with in a team setting?

Why is self-assessment and team performance assessment crucial for effective teamwork?

How can conflict in team dynamics be effectively managed?

What role do grievance procedures play in maintaining morale and productivity in a team setting?

What does successful team performance require according to the text?

How can difficult personalities be effectively managed within a team?

What is the significance of clear objectives in successful teamwork?

What type of investment offers fixed returns and is suitable for individuals looking to preserve capital?

Which investment option involves investing in startups or expanding businesses with the potential for substantial returns?

What is the fundamental relationship between risk and return in investment decisions?

Which investment vehicle provides diversified investment managed by professionals, lowering risk through diversification?

What is the main purpose of government retail bonds, as mentioned in the text?

Compound interest differs from simple interest by:

Which investment option is considered a long-term, low-risk investment aimed at building wealth over time?

What is the primary function of the Johannesburg Securities Exchange (JSE) as mentioned in the text?

Which type of shares are specifically mentioned in the text as a form of direct business investment?

What distinguishes unit trusts from direct business investments in the context provided?

What is an essential characteristic of mutual funds as described in the text?

Why is it crucial for individuals and businesses to comprehend investment opportunities according to the text?

What type of interest is calculated on the principal amount only, without interest on interest?

Which investment option offers a way to invest collectively but is susceptible to the risks of mismanagement or fraud?

What is the relationship between risk and return in making investment decisions?

Which investment vehicle offers low-risk savings with slightly higher returns than regular savings accounts but less liquidity?

Why is it crucial for investors to understand factors such as ROI, risk, and economic indicators in making investment decisions?

What is the primary difference between problem-solving and decision-making?

Which technique examines driving and restraining forces to evaluate a change initiative?

What is the essence of creative thinking in a business context?

How does the Delphi Technique operate to reach consensus?

Why should organizations recognize and reward creativity according to the text?

What is the purpose of indemnity in insurance policies?

What is the significance of the 'Utmost Good Faith' principle in insurance?

How does over-insurance differ from under-insurance?

What is a primary characteristic of non-compulsory (voluntary) insurance policies?

What does the Average Clause in insurance policies calculate?

What is the primary purpose of ethical behavior in a business context?

What distinguishes unethical business practices from ethical ones?

Why is stakeholder engagement important in maintaining ethical standards?

In the context of professional behavior, what does professionalism encompass?

How can organizations ensure individuals are held accountable for their actions?

What is an essential criterion for successful team performance according to the text?

Which conflict resolution model is mentioned in the text for addressing team conflicts?

What is a key strategy for dealing with difficult personalities in a team setting according to the text?

What is the primary purpose of conflict management in a team environment as highlighted in the text?

Why is fostering a creative workplace environment emphasized in the text?