The deliberate effort geared towards discarding some cargoes in order to lighten the vessel is
- A. caveat emptor
- B. uberrimae fidei
- C. demurrage
- D. jettison
The deliberate effort geared towards discarding some cargoes in order to lighten the vessel is
- A. caveat emptor
- B. uberrimae fidei
- C. demurrage
- D. jettison
The distribution of petroleum products in Nigeria is through
- A. rail
- B. road
- C. sea
- D. air
A trader who experienced loss through fire can be restored by
- A. an insurance company
- B. a trade association
- C. the bank
- D. an advertising agency
A trader who experienced loss through fire can be restored by
- A. an insurance company
- B. a trade association
- C. the bank
- D. an advertising agency
The insurance principle that allows an insurance company to take over the rights of the insured once he has been compensated is
- A. indemnity
- B. proximate cause
- C. utmost good faith
- D. subrogation
The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is
- A. subrogation
- B. proximate cause
- C. uberrimae fidei
- D. contribution
The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is
- A. subrogation
- B. proximate cause
- C. uberrimae fidei
- D. contribution
Insurance against burglary is an example of
- A. indemnity insurance
- B. fidelity guarantee insurance
- C. non-insurable risk
- D. non-indemnity insurance
Endowment policy in insurance business is an aspect of
- A. accident insurance policy
- B. fidelity guarantee insurance policy
- C. motor vehicle insurance policy
- D. life assurance policy
Tourists with no fixed address in a town may receive their letters from post office through a
- A. poste restante
- B. parcel post
- C. private mail bag
- D. recorded delivery
Tourists with no fixed address in a town may receive their letters from post office through a
- A. poste restante
- B. parcel post
- C. private mail bag
- D. recorded delivery
A carton of noodles valued at #2,000 was invoiced at #200 only.The accounting procedure to correct this error is to issue
- A. an invoice for #200
- B. a debit note for #2,00
- C. a credit note for #1,800
- D. a debit note for #1,800
A carton of noodles valued at #2,000 was invoiced at #200 only.The accounting procedure to correct this error is to issue
- A. an invoice for #200
- B. a debit note for #2,00
- C. a credit note for #1,800
- D. a debit note for #1,800
In response to an inquiry from a customer, a wholesaler is expected to send back
- A. a consignment note
- B. an order
- C. a qoutation
- D. an advice note
A document recording the transactions of an organization with its customer for a specified period which normally shows the indebtedness of one to the other is a
- A. statement of account
- B. consular invoice
- C. proforma invoice
- D. statement affairs
The role of customs and excise authority includes the
- A. control of the flow of goods in and out of the country
- B. control of security agents within and out of the borders
- C. provision of dockyards for ship repairs and maintenance
- D. provision of transport system to facilitate imports and exports
The document submitted to the customs authority when full description of imported goods is not provided is
- A. a bill of sight
- B. an invoice
- C. an indent
- D. a bill of entry
The document submitted to the customs authority when full description of imported goods is not provided is
- A. a bill of sight
- B. an invoice
- C. an indent
- D. a bill of entry
The document issued by a port authority for goods deposited is a
- A. bill of lading
- B. bill of sight
- C. consular invoice
- D. warehouse warrant
To eliminate middlemen, there should be a retail outlet such as
- A. producer co-operative
- B. consumer co-operative
- C. multiple shop
- D. departmental store