An insurance policy which is not a contract of indemnity is?
- A. burglary insurance
- B. fire insurance
- C. life insurance
- D. motor insurance
The financial market where existing shares and bonds are bought and sold is the?
- A. forex market
- B. stock market
- C. money market
- D. commodity market
The issue of shares which allows existing shareholders to buy shares at a preferential price is?
- A. bonus issue
- B. offer for sale
- C. public offer
- D. rights issue
The bank which acts as the lender of last resort is the?
- A. central bank
- B. commercial bank
- C. merchant bank
- D. mortgage bank
The share value stated on a share certificate is?
- A. above par value
- B. below par value
- C. market value
- D. nominal value
The right to buy or sell stock exchange with a stipulated period is?
- A. option
- B. contango
- C. backwardation
- D. brokerage
A request for goods from another country by an importer would be made using?
- A. an invoice
- B. an indent
- C. an order
- D. a quotation
A document issued by the seller`s own courier and signed by the customer to acknowledge receipt of the goods is?
- A. advice note
- B. consignment note
- C. delivery note
- D. freight note
A discount deducted from the invoice price of goods to enable the retailer to make profit is?
- A. cash discount
- B. functional discount
- C. trade discount
- D. seasonal discount
One advantage of small scale retail outlet is?
- A. availability of self service facilities
- B. ability to buy in bulk
- C. easy access to large amount of capital
- D. personal attention to customers
A feature of supermarkets which distinguishes it from other large scale retail outlets is that items sold are?
- A. mainly household goods
- B. mainly industrial goods
- C. delivered by post
- D. one line of products
Goods brought into the country for sale are the country`s?
- A. invisible imports
- B. invisible exports
- C. visible imports
- D. visible exports
The difference between a country`s imports and exports of goods in a particular year is?
- A. terms of trade
- B. terms of payment
- C. balance of payment
- D. balance of trade
The last link in a channel of distribution is the?
- A. wholesaler
- B. retailer
- C. consumer
- D. agent
The part of issued share capital that the company has asked the subscribers to pay for is?
- A. authorized capital
- B. called-up capital
- C. nominal capital
- D. paid-up capital
When the cost of sales is divided by the average stock, the result is?
- A. gross profit
- B. net profit
- C. rate of turnover
- D. working capital
Examples of currents assets are?
- A. cash and trade debtors
- B. cash and trade cresitors
- C. trade debtors, trade creditors and cash
- D. trade creditors and trade debtors
The issue of prospectus by a company is an invitation to members of the public to?
- A. subscribe to the company`s shares
- B. buy the company`s product
- C. attend the company`s boards meeting
An association formed by computer distributors to safeguard and promote their interest is a?
- A. chamber of commerce
- B. cooperative society
- C. trade association
- D. trade union
Which of the following is not a function of a consumer association?
- A. ensuring that consumers buy quality goods
- B. educating consumers on their rights
- C. penalizing importers of fake goods
- D. ensuring that fair prices are charged
The document issued to a public company allowing it to commence business is the?
- A. Article of association
- B. certificate of incorporation
- C. memorandum of association
- D. certificate of trading