An insurance principle that prevents a person from insuring what he does not stand to lose financially if the insured risk occurs is
- A. indemnity
- B. insurable interest
- C. proximate cause
- D. subrogation
An insurance principle that prevents a person from insuring what he does not stand to lose financially if the insured risk occurs is
- A. indemnity
- B. insurable interest
- C. proximate cause
- D. subrogation
A person who earns extra commission for guaranteeing debts is a
- A. factor
- B. broker
- C. commission agent
- D. del-credere agent
A person who earns extra commission for guaranteeing debts is a
- A. factor
- B. broker
- C. commission agent
- D. del-credere agent
Which of the following will be suitable for hire purchase sale?
- A. Shares
- B. Refrigerator
- C. Shoes
- D. Textile
Carriage forward on an invoice means
- A. carriage will be paid next time
- B. carriage will be paid by seller
- C. carriage will be paid by buyer
- D. carriage has been paid
A document used as a polite way of refusing credit is
- A. advice note
- B. quotation
- C. proforma invoice
- D. invoice
A document used as a polite way of refusing credit is
- A. advice note
- B. quotation
- C. proforma invoice
- D. invoice
The exclusive right of an author over his book is
- A. Trade mark
- B. Brand name
- C. Copyright
- D. Patent right
The exclusive right of an author over his book is
- A. Trade mark
- B. Brand name
- C. Copyright
- D. Patent right
The document in which full details of goods and the ship carrying the goods are contained is known as
- A. bill of exchange
- B. bill of sight
- C. certificate of origin
- D. shipping advice note
The document in which full details of goods and the ship carrying the goods are contained is known as
- A. bill of exchange
- B. bill of sight
- C. certificate of origin
- D. shipping advice note
Throwing cargo overboard in order to save a ship from sinking is
- A. jettison
- B. abandonment
- C. piracy
- D. flotsam
The functions of credit and thrift society does not include
- A. charging low interest rate on loans
- B. providing savings facilities
- C. encouraging mutual co-operation of members
- D. providing security for member's property
The abbreviation E & O.E. on an invoice seeks to
- A. draw the attention of the buyer to the contents of the document
- B. show that there is no error about price quoted on the invoice
- C. protect the seller against any error on the document
- D. draw the attention of the seller to the contents of the document
The abbreviation E & O.E. on an invoice seeks to
- A. draw the attention of the buyer to the contents of the document
- B. show that there is no error about price quoted on the invoice
- C. protect the seller against any error on the document
- D. draw the attention of the seller to the contents of the document
Industrial occupation does not involve the
- A. growing and extraction of raw materials
- B. use of machinery
- C. construction and manufacturing of goods
- D. movement of people and goods
The size of of profit of a business is measured by the
- A. closing stock
- B. opening stock
- C. total purchases
- D. rate of turnover
The size of of profit of a business is measured by the
- A. closing stock
- B. opening stock
- C. total purchases
- D. rate of turnover
Mr Lou who assured his life with XYZ Assurance Company, was involved in an accident and had a broken leg; the sum of #80,000 was paid to Mr Lou for his broken leg. The money received is known as
- A. compensation
- B. commission
- C. premium
- D. indemnity
Mr Lou who assured his life with XYZ Assurance Company, was involved in an accident and had a broken leg; the sum of #80,000 was paid to Mr Lou for his broken leg. The money received is known as
- A. compensation
- B. commission
- C. premium
- D. indemnity