Which of the following is not function of money? it?
- A. is a medium of exchange
- B. serves as a store of value
- C. is easily recognizable
- D. make deferred payments possible
The principle of subrogation imposes an obligation on the insured to?
- A. disclose all material information
- B. have financial risks in object insured
- C. collect compensation from only insurer
- D. surrender legal rights after compensation
The principle of subrogation imposes an obligation on the insured to?
- A. disclose all material information
- B. have financial risks in object insured
- C. collect compensation from only insurer
- D. surrender legal rights after compensation
Hull insurance is taken to cover?
- A. injury to the crew of the ship
- B. non-payment of freight
- C. damage to the cargo
- D. damage to body of the ship
Hull insurance is taken to cover?
- A. injury to the crew of the ship
- B. non-payment of freight
- C. damage to the cargo
- D. damage to body of the ship
The transfer of risks already undertaken from insurance one insurance company to another is?
- A. over-insurance
- B. re-insurance
- C. under insurance
- D. group insurance
The minimum charge at which the Central Bank lend to commercial banks is called?
- A. discount rate
- B. bank rate
- C. market rate
- D. interest rate
When shares are fully paid they can be converted into?
- A. bonds
- B. debentures
- C. stocks
- D. treasury bills
When shares are fully paid they can be converted into?
- A. bonds
- B. debentures
- C. stocks
- D. treasury bills
The drawer of a bill of exchange which is not discount is also the?
- A. 30 days
- B. 2months
- C. 6 months
- D. 12 months
The trade document signed by a representative of the country to which is not discounted is also the?
- A. consular invoice
- B. certificate invoice
- C. consignment invoice
- D. proforma invoice
Which of the following is sent by a customer who wishes to know the price, quality and terms of sale of a product?
- A. Quotation
- B. Letter of Enquiry
- C. Proforma invoice
- D. Advice note
An agreement by which a buyer pays instalmentally but does until final settlement is made is?
- A. hire purchase
- B. deferred payment
- C. conditional sale
- D. features trading
Department store usually?
- A. offers a wide variety goods
- B. specialize in selling only household goods
- C. offer a few line of goods
- D. sell on cash on delivery basis
In international trade the direct exchange of goods for goods is?
- A. bilateral trade
- B. counter trade
- C. multi lateral trade
- D. entrepot trade
In international trade the direct exchange of goods for goods is?
- A. bilateral trade
- B. counter trade
- C. multi lateral trade
- D. entrepot trade
Which of the following requires acceptance before it can be valid?
- A. Promissory note
- B. Bill of exchange
- C. Letter of credit
- D. Cheque
A retail outlet meant to sell only a particular manufacturer’s product known as a?
- A. co-operative shop
- B. chain store
- C. department store
- D. tied shop
Which of the following requires acceptances before it can be valid?
- A. Promissory note
- B. Bill of exchange
- C. Letter of credit
- D. Cheque
The rate at which a country’s currency is converted to the currency of another country is known as?
- A. terms of trade
- B. terms of payment
- C. exchange rate
- D. bank rate
The rate at which a country’s currency is converted to the currency of another country is known as?
- A. terms of trade
- B. terms of payment
- C. exchange rate
- D. bank rate