The term “fiduciary issue” means
- A. money issued without gold backing
- B. money issued with gold backing
- C. money issued as currency note
- D. gold reserve
A system of sales where goods are sold to the highest bidder is known as
- A. credit sale
- B. hire purchase
- C. clearance sale
- D. auction sale
A system of sales where goods are sold to the highest bidder is known as
- A. credit sale
- B. hire purchase
- C. clearance sale
- D. auction sale
In the absence of the bill of lading, which of the following is used o clear the goods
- A. Bill of sight
- B. Dock warrant
- C. Certificate of Origin
- D. Mate's receipt
Fidelity guarantee insurance will only cover
- A. cashier's fraud
- B. daylight robbery
- C. loss of profit
- D. unpaid loan
The charge paid to a ship owner for the unused part of a ship is known as
- A. penalty
- B. dock dues
- C. dead freight
- D. demurrage
The charge paid to a ship owner for the unused part of a ship is known as
- A. penalty
- B. dock dues
- C. dead freight
- D. demurrage
The ratio between a country’s exports and her imports prices is the
- A. balance of trade
- B. balance of payments
- C. terms of trade
- D. exchange rate
The ratio between a country’s exports and her imports prices is the
- A. balance of trade
- B. balance of payments
- C. terms of trade
- D. exchange rate
“Net 3 months” on an invoice means the buyer will
- A. pay interest after 3 months
- B. gets discount if he pays within 3 months
- C. pay full invoice amount after 3 months
- D. have discount if he pays after 3 months
“Net 3 months” on an invoice means the buyer will
- A. pay interest after 3 months
- B. gets discount if he pays within 3 months
- C. pay full invoice amount after 3 months
- D. have discount if he pays after 3 months
Which of the following is engaged in commercial occupation?
- A. a brick layer
- B. an engineer
- C. an insurance broker
- D. a barber
In a hire purchase contract, the customer becomes the legal owner of the goods by
- A. paying the last installment
- B. paying the first installment
- C. taking possession of the goods
- D. paying half the purchase price
In a hire purchase contract, the customer becomes the legal owner of the goods by
- A. paying the last installment
- B. paying the first installment
- C. taking possession of the goods
- D. paying half the purchase price
Shares, bonds, stocks and debentures traded on the stock exchange are collectively called
- A. collaterals
- B. commodities
- C. resources
- D. securities
Shares, bonds, stocks and debentures traded on the stock exchange are collectively called
- A. collaterals
- B. commodities
- C. resources
- D. securities
A price quotation which includes all the expenses involved in loading the goods into a ship is
- A. Free on Board (FOB)
- B. Free Alongside Ship (FAS)
- C. Cost, Insurance, Freight (C.I.F)
- D. ex-ship
A price quotation which includes all the expenses involved in loading the goods into a ship is
- A. Free on Board (FOB)
- B. Free Alongside Ship (FAS)
- C. Cost, Insurance, Freight (C.I.F)
- D. ex-ship
To take an insurance policy, an applicant must first complete a/an
- A. proposal form
- B. cover note
- C. certificate of insurance
- D. advice note
To take an insurance policy, an applicant must first complete a/an
- A. proposal form
- B. cover note
- C. certificate of insurance
- D. advice note
Which of the following price quotations requires the buyer to take delivery at the manufacturer’s warehouse?
- A. Ex-works
- B. F.O.R
- C. F.O.B
- D. D.F.A.S