The insured is the?
- A. insurance company
- B. insurance company's client
- C. insurance broker
- D. insurance agent
- E. insurance manager
Under the law of insurance, exemption causes?
- A. enable the insurance to claim on the insurance company
- B. protect the insurance company under the contract
- C. guard against occurrence of the insured events
- D. protect a third party under the contract
- E. protect the insured against the insurance company
The worth of a life insurance policy be maturity date is known as?
- A. principal value
- B. surrender value
- C. accumulated value
- D. prepaid value
- E. accrued value
Prior to the issue of a certificate on a motor insurance contract, the insured is issued with?
- A. a licence of insurance
- B. insurance policy certificate
- C. a cover note
- D. a simple receipt
- E. an invoice
Which o the following is not an attribute of an effective business manager?
- A. Empathy
- B. Subjectivity
- C. Altrumism
- D. Objectivity
- E. self awareness
The critical factor in organizing a business is?
- A. money
- B. capital
- C. machinery
- D. management
- E. control
Branding is a good example of?
- A. informative advertising
- B. marketing mix
- C. persuasive advertising
- D. consumerism
- E. competitive advertising
In the contract of sale of goods,”let the buyer beware” is signified by?
- A. del credere
- B. uberrima fidei
- C. caveat emptor
- D. res ipsa loquitor
- E. caveat vendetta
A counter offer operates as?
- A. an acceptance
- B. an offer
- C. a rejection
- D. an agreement
- E. a contract
Production ends when goods?
- A. and services are used by the producer
- B. are packed and labelled
- C. are sold in the market
- D. and services reach the final user
- E. are advertised to the consumers
Which of the following towns was important to the trans-Saharan traders?
- A. Enugu
- B. Oyo
- C. llorin
- D. Kaduna
- E. Kano
Which of the following support the view that there was commerce in Nigeria many years ago?
- A. The economy was consistent
- B. Specialization was minimal
- C. Cowries were used as money
- D. Horses wee used as means of transportation
- E. Communities were interdependent
Which of the following convert raw materials into finished goods?
- A. Extractive industry
- B. Manufacturing
- C. Commercial occupation
- D. Constructive industry
- E. Tertiary industry
The practice of employing specialists in relevant occupation is a feature of?
- A. subsistence economy
- B. mobility of labour
- C. mixed economy
- D. exchange economy
- E. division of labour
The process of buying and selling and distribution of goods and services is known as?
- A. retail trade
- B. commerce
- C. marketing concept
- D. marketing mix
- E. wholesale trade
An insurance broker is involved in?
- A. manufacturing occupation
- B. distributive occupation
- C. commercial occupation
- D. extractive occupation
- E. constructive occupation