Commerce JAMB, WAEC, NECO AND NABTEB Official Past Questions

22

when two insurers are liable under a given common policy, the principle of insurance that applies is?

  • A. indemnity
  • B. subrogation
  • C. proximate clause
  • D. contribution
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23

equity interest in a company is represented by?

  • A. preference shares
  • B. dividend
  • C. debenture
  • D. ordinary shares
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24

which of the following is used for making payments to many people in a single cheque

  • A. debit transfer
  • B. certified cheque
  • C. bank draft
  • D. credit transfer
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25

commerce started as a result of?

  • A. speculation
  • B. consumption
  • C. specialization
  • D. nationalization
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26

turnover could be increased by

  • A. increasing prices and product differentiation
  • B. advertising and cutting prices
  • C. refusing credit and customer services
  • D. increasing the mark up and margin
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27

when shares are sold exdiv it means the?

  • A. shares are sold at par price
  • B. buyer is entitle to the next dividend
  • C. shares are sold above par
  • D. seller has right to the next dividend
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28

which of the following principls stipulates that the insured must be in a position to suffer financial loss?

  • A. indemnity
  • B. proximate clause
  • C. insurable interest
  • D. subrogation
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29

the market for short term security is called?

  • A. commodity market
  • B. discount market
  • C. money market
  • D. stock market
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30

a house insured against damage by flood was burnt down and the owner had no claim. which of the following principles prevented him from making a claim

  • A. indemnity
  • B. contribution
  • C. insurable interest
  • D. proximate cause
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31

A cheque made payable to a named person is?

  • A. a crossed cheque
  • B. a certified cheque
  • C. an order cheque
  • D. a confirmed cheque
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32

the practice of selling goods in foreign markets at a price lower than the cost price is?

  • A. fair trading
  • B. under invoicing
  • C. hedging
  • D. dumping
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33

Retail outlets which sell from specialized vans are called?

  • A. super market
  • B. multiple shops
  • C. mail order
  • D. mobile shop
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34

which of the following is an aspect of marketing concept

  • A. product differentiation
  • B. sales orientation
  • C. consumer orientation
  • D. price differentiation
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35

The reduction in the value of a country’s currency in  relation to others is?

  • A. re denomination
  • B. devaluation
  • C. inflation
  • D. deflation
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36

Which of the following is classified under current assets

  • A. machinery
  • B. motor vehicle
  • C. stock
  • D. fittings
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37

The capital used in the day to day running of a business is?

  • A. nominal capital
  • B. working capital
  • C. paid up capital
  • D. authorized capital
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38

Duty drawback refers to duties paid on?

  • A. exported goods produced with local content
  • B. re-exported goods previously imported
  • C. imported goods for sale locally
  • D. locally manufactured goods for sale locally
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39

Which of the following business units enjoys government subsidies

  • A. private limited company
  • B. limited partnership
  • C. public limited company
  • D. public enterprises
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40

The term utmost good faith in insurance means?

  • A. both the insured and insurer must disclose all information
  • B. only the insurer must disclose all information
  • C. the beneficiary must disclose all information
  • D. only the insured must disclose all information
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41

which of the following is a function of the retailer to the wholesaler

  • A. providing after sales services
  • B. providing information on market trends
  • C. sales of variety of goods
  • D. sales of goods in smaller quantities
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42

A cheque which the bank refused to pay because the drawer had insufficient funds in his account is?

  • A. a bounced cheque
  • B. a bearer cheque
  • C. a crossed cheque
  • D. an order cheque
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