1998 WAEC Commerce Past Questions & Answers - page 3

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21
Credit in business transaction is?

A
a form of loan
B
compliment to a good customer
C
provision of services
D
a means of saving money

Correct Option: A

No further explanations yet...

22
Which of the following is true of rail transport?

A
Suitable for perishable goods
B
Fast over long distances
C
Maximum handling of goods
D
Gaurantees safety of goods

Correct Option: D

No further explanations yet...

23
Which of the following is not a means of controlling credit by the Central Bank?

A
Fixing the bank rate
B
Open market operations
C
Clearing inter-bank indebtedness
D
Special deposits

Correct Option: C

No further explanations yet...

24
Which of the following is not a function of Development Banks?

A
Give long-term loans
B
invest directly into Agriculture
C
Issue currency notes
D
Give technical advice to investors

Correct Option: C

No further explanations yet...

25
Which of the following is an example of insurable risk?

A
Change in consumer's taste
B
The probability of a third world war
C
Flood resulting from excessive rain in a year
D
The death of a business partner

Correct Option: D

No further explanations yet...

26
If Mr Olu insures Mr Obi's house, the insurer may, in event of a loss, refuse to pay compensation based on the principle of

A
utmost good faith
B
subrogation
C
insurable interest
D
indemnity

Correct Option: C

No further explanations yet...

27
Which of the following shows the quality of money

A
Ability to represent both small and large values
B
Used for deffered payments
C
Used as a unit for account
D
Facilitating exchange

Correct Option: A

No further explanations yet...

28
The speculator in the stock exchange market who sells securities in anticipation of a fall in price is called a

A
bull
B
jobber
C
bear
D
stag

Correct Option: C

No further explanations yet...

29
An action taken by a seller to avoid risks from unforeseeable price fluctuation is known as

A
tendering
B
aunctioneering
C
quotation
D
hedging

Correct Option: D

No further explanations yet...

30
The insurance policy against claims from customers who might be injured within the business premises is called

A
life assurance policy
B
endowment policy
C
fidelity guarantee insurance
D
employers liability insurance

Correct Option: D

No further explanations yet...

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