The term “utmost good faith” in insurance requires that the insured must
- A. make profit from any loss suffered
- B. receive his compensation fully in the event of loss
- C. disclose all relevant facts on what is being insured
- D. pay his premium regularly
Which of the following is the main purpose of a third party insurance? To
- A. indemnify an injured outsider
- B. indemnify the insured
- C. protect the vehicle against theft
- D. compensate the driver for injuries sustained
The reduction in the value of a country’s currency in relation to other country’s currencies is
- A. devaluation
- B. inflation
- C. deregulation
- D. fluctuation
The reduction in the value of a country’s currency in relation to other country’s currencies is
- A. devaluation
- B. inflation
- C. deregulation
- D. fluctuation
Any activity aimed at finding out the wants of consumers and supplying them at a profit is referred to as?
- A. promotion
- B. marketing
- C. segmentation
- D. penetration
Which of the following is not reason for nationalization
- A. Encouraging foreign investors
- B. Reducing the remittance of profits abroad
- C. Training local enterpreneus
- D. Controlling the country's key industries
The process of putting goods in attractive packets to arouse the interest of customers is
- A. collation
- B. wrapping
- C. branding
- D. packaging
The process of putting goods in attractive packets to arouse the interest of customers is
- A. collation
- B. wrapping
- C. branding
- D. packaging
The monopoly right granted to an inventor is a
- A. trademark
- B. brand name
- C. patent
- D. copyright
The monopoly right granted to an inventor is a
- A. trademark
- B. brand name
- C. patent
- D. copyright
Who among the following is a middlemen?
- A. Manufacturer
- B. Agent
- C. Insurer
- D. Consumer
The process of taking over the management and control of a privately owned business by government is
- A. indigenization
- B. nationalization
- C. participation
- D. privatization
The process of taking over the management and control of a privately owned business by government is
- A. indigenization
- B. nationalization
- C. participation
- D. privatization
It is safer and quicker to transport petrol and gas by
- A. rail
- B. road
- C. pipeline
- D. air
In a limited partnership, one of the members must be
- A. a general partner
- B. a nominal partner
- C. an active partner
- D. a dormant partner
In a limited partnership, one of the members must be
- A. a general partner
- B. a nominal partner
- C. an active partner
- D. a dormant partner
Demurrage is paid by a vessel for
- A. overloading
- B. travelling along unplanned route
- C. delaying at the port
- D. not using the services at the wharf
Demurrage is paid by a vessel for
- A. overloading
- B. travelling along unplanned route
- C. delaying at the port
- D. not using the services at the wharf
The principle where many insurance companies join to compensate one policy holder is called?
- A. contribution
- B. subrogation
- C. compensation
- D. indemnity
The principle where many insurance companies join to compensate one policy holder is called?
- A. contribution
- B. subrogation
- C. compensation
- D. indemnity
A specialized market where stocks and shares are bought and sold is
- A. money market
- B. commodity exchange market
- C. perfect market
- D. stock exchange market