Commerce Questions and Answers
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
To take an insurance policy, an applicant must first complete a/an
proposal form
cover note
certificate of insurance
advice note
Correct answer is A
A proposal form is the form completed by the policyholder when applying for insurance. You will need to fill in information about the risk you are insuring e.g. the rebuild cost of your house or type of car you own.
Ex-works
F.O.R
F.O.B
D.F.A.S
Correct answer is A
No explanation has been provided for this answer.
The insurance principle of indemnity does not apply to
fire insurance
life assurance
burglary insurance
marine insurance
Correct answer is B
The principle of indemnity does not apply to life insurance because, the human being can not easily be evaluated.
The ancillary to trade which ensures that people have access to information pertaining to goods is
insurance
advertising
warehousing
banking
Correct answer is B
Advertising; describe or draw attention to (a product, service, or event) in a public medium in order to promote sales or attendance.
patent
copyright
goodwill
trade mark
Correct answer is C
Goodwill; the established reputation of a business regarded as a quantifiable asset and calculated as part of its value when it is sold.