Which of the following involves the delivery of mails to a traveler without a fixed address
- A. Speedpost
- B. Reply paid
- C. Recorded delivery
- D. Post restante
If the charterer delayed the ship beyond the lay days, he is asked to pay
- A. dead freight
- B. demurrage
- C. lump sum
- D. freight
If the charterer delayed the ship beyond the lay days, he is asked to pay
- A. dead freight
- B. demurrage
- C. lump sum
- D. freight
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope’s shop got burnt yesterday by fire from the cooking pot.
The amount D60,000 quoted represents
- A. Premium
- B. sum insured
- C. contribution
- D. compensation
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope’s shop got burnt yesterday by fire from the cooking pot.
The amount D60,000 quoted represents
- A. Premium
- B. sum insured
- C. contribution
- D. compensation
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope’s shop got burnt yesterday by fire from the cooking pot.
Which of the following insurance principles will prevent her from claiming compensation?
- A. indemnity
- B. insurable interest
- C. Proximate cause
- D. Utmost good faith
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope’s shop got burnt yesterday by fire from the cooking pot.
Which of the following insurance principles was breached by Madam Tope?
- A. Insurable interest
- B. Contribution
- C. Utmost good faith
- D. Subrogation
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope’s shop got burnt yesterday by fire from the cooking pot.
Which of the following insurance principles was breached by Madam Tope?
- A. Insurable interest
- B. Contribution
- C. Utmost good faith
- D. Subrogation
An open cheque is one
- A. on which the amount is written only in figures
- B. which has no name
- C. which can be cashed over the counter
- D. which has no specific amount written on it
An open cheque is one
- A. on which the amount is written only in figures
- B. which has no name
- C. which can be cashed over the counter
- D. which has no specific amount written on it
Which of the following is referred to as the oldest form of insurance?
- A. Marine insurance
- B. Burglary insurance
- C. Whole life insurance
- D. Accident insurance
Which of the following is referred to as the oldest form of insurance?
- A. Marine insurance
- B. Burglary insurance
- C. Whole life insurance
- D. Accident insurance
Which of the following is legal tender
- A. Bank notes
- B. Bank drafts
- C. Central bank cheque
- D. Traveller's cheque
Which of the following is legal tender
- A. Bank notes
- B. Bank drafts
- C. Central bank cheque
- D. Traveller's cheque
Treasury bills are bought and sold in the
- A. Capital market
- B. Open market
- C. Commodity market
- D. Money market
Which of the following is not a function of the Central Bank
- A. Banker to the government
- B. Banker's bank
- C. issuance of currency notes
- D. Granting loans to the public
Which of the following is not a function of the Central Bank
- A. Banker to the government
- B. Banker's bank
- C. issuance of currency notes
- D. Granting loans to the public
Which of the following is not a reason for dishonoring a cheque?
- A. insufficient funds in drawer's account
- B. when the cheque is stale
- C. Amount in figure differs with amount in words
- D. Poor handwriting
Which of the following is not a reason for dishonoring a cheque?
- A. insufficient funds in drawer's account
- B. when the cheque is stale
- C. Amount in figure differs with amount in words
- D. Poor handwriting
A limited company can raise long term capital through the
- A. commodity market
- B. stock exchange market
- C. export market
- D. foreign exchnage market
Mr Ojo buys a book from a bookseller and pays cash. The bookseller will issue him a
- A. debit note
- B. credit note
- C. voucher
- D. receipt