A vertical or near-vertical excavation used for transportation of men and material is called:

Solution (By Examveda Team)

A vertical or near-vertical excavation used for transportation of men and material is called:
Option B: Shaft

First, let's define the terms involved:
Shaft: A deep, vertical, or near-vertical excavation in the earth, usually cylindrical in shape, used for transporting personnel, materials, and equipment between the surface and underground workings of a mine.
Drift: A nearly horizontal passageway or tunnel in a mine, usually driven from a shaft or another drift.
Crosscut: A horizontal or nearly horizontal passageway in a mine that intersects other workings (like drifts or veins) at an angle, usually connecting them.
Raise: An inclined or vertical passage driven upwards from a lower level to a higher level in a mine. It is often used for ore extraction, ventilation, or access.

The question asks for the term describing a vertical or near-vertical excavation used for transportation. A shaft precisely fits this description. Shafts are specifically designed and constructed for vertical transportation, incorporating features like hoisting systems for efficient movement of people and materials.

Drifts, crosscuts, and raises are all underground passages, but they are not primarily vertical and are not designed for the main transportation of personnel and materials in the same way a shaft is. Therefore, options A, C, and D are incorrect.