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.
Which of the following is a non- indemnity insurance?
Marine
Life
Fire
Bad debts
Burglary
Correct answer is B
No explanation has been provided for this answer.
Selling a bill in less than the face of the value for immediate cash before the due date is to?
retire the bill
honour the bill
discount the bill
protest the bill
withdraw the bill
Correct answer is C
No explanation has been provided for this answer.
Which of the following is not a feature of good banking security? The
asset must be easily converted into cash
value of the asset must be easily ascertained
ownership of the asset must be in doubt
value of the asset should be stable
value of the asset must less than the amount loaned
Correct answer is E
No explanation has been provided for this answer.
Which of the following policies qualifies the holder to income to income tax relief?
Accident insurance
Public liability insurance
Comprehensive insurance
Endowment assurance
Fidelity guarantee insurance
Correct answer is D
No explanation has been provided for this answer.
Which of the following is not true of insurance?
A large number of pecple face the same risk
A Possibility of making profit out of an event
only a small number will actually suffer the loss in any one year
A large number makes a small contribution to a common pool
Possibility of assessing the frequency of occurrence of the event
Correct answer is B
No explanation has been provided for this answer.