The marketing concept emphasizes
- A. sale of goods directly to customers
- B. use of promotional tools to stimulate sales
- C. mass production of goods
- D. consumer's satisfaction at a profit
Consumers could be encouraged to purchase a company’s products through
- A. research
- B. planning
- C. distribution
- D. advertisement
The commission on a postal order is
- A. tariff
- B. poundage
- C. brokerage
- D. fee
An advantage of rail transport is that it
- A. is less expensive to maintain
- B. is not prone to delays
- C. bulky and heavy goods
- D. enhances door-to-door delivery
Payment made to a carrier for transportation of goods is
- A. frights
- B. fee
- C. fare
- D. duty
Sea vessels that do not operate on regular times and routes are
- A. tramps
- B. ocean liners
- C. container ships
- D. ferries
When a share with a nominal value of N50 is quoted at N70, it is being sold
- A. cum div.
- B. ex-div.
- C. at a discount
- D. at a premium
One of the functions of a trade association is to
- A. pay members salaries
- B. promote members' welfare
- C. provide loans to members
- D. provide employment for members
A cheque is specially crossed if
- A. the name of the account holder is written between two parallel lines drawn across it
- B. it could be paid over the counter
- C. the name of the bank is written between two parallel lines drawn across it
- D. only two parallel lines are drawn across it
A document used to ensure correct payment of duty at the importing country is
- A. documentary credit
- B. consular invoice
- C. certificate of origin
- D. bill of lading
Central banks sell treasury bills to the public to
- A. increase cash in the banking system
- B. raise revenue for commercial banks
- C. raise revenue for private investors
- D. reduce cash in circulation
Which of the following is not a characteristic of a commercial bank?
- A. established as a limited liability company
- B. Established by individuals or organizations
- C. Established to issue bank notes
- D. Established with the view of making profit
Dealers in the stock exchange such as bulls, bears and stags are categorized as
- A. actuaries
- B. promoters
- C. speculators
- D. underwriters
The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is.
- A. indemnity
- B. contribution
- C. proximate cause
- D. uberrimae fidei
The incentive given to a buyer to encourage prompt payment is
- A. cash discount
- B. seasonal discount
- C. quantity discount
- D. trade discount
A document that instructs an agent to buy goods from a named firm is
- A. proforma invoice
- B. open indent
- C. consular invoice
- D. closed indent
One of the functions of commercial banks that cannot be performed by central banks is
- A. collection of old notes
- B. collection of deposits from the public
- C. issurance of treasury bills
- D. printing of bank notes
The quality of money which makes it possible to buy goods in small quantities is
- A. portability
- B. homogeneity
- C. divisibility
- D. durability
A country’s visible balance of payment is made up of
- A. interest on loans to foreign countries
- B. profit from investment abroad
- C. earnings from goods exported
- D. dividend earned from companies
A retail store that sells a single product from a particular manufacturer is a
- A. tied shop
- B. shopping mall
- C. hypermarket
- D. chain store
Which of the following groups would advocate for the supply of constant electricity to households?
- A. consumers' association
- B. credit union
- C. Employers' association
- D. Labour union