Commerce questions and answers

Commerce Questions and Answers

Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.

3,136.

which of the following sets of items was used for exchange in Nigeria before money was introduced?

A.

cowries, iron rods, brass rods and copper rods

B.

iron rods, copper rods, manilla and cowries

C.

cowries, manilla, brass rod andcopper wires

D.

copper wires, brass wires, cowries and iron rod

Correct answer is C

No explanation has been provided for this answer.

3,137.

Berne union is also known as

A.

International Credit Union

B.

International Documentry Credit

C.

International Union of Credit and Investment Insurers

D.

export Credit Guarantee Scheme

Correct answer is C

No explanation has been provided for this answer.

3,138.

The insurance policy which provides full cover against all risks at sea is known as

A.

Policy with Particular Average

B.

Policy Free of Particular Average

C.

Marine Freight Insurance

D.

Marine Voyage Policy Insurance

Correct answer is D

No explanation has been provided for this answer.

3,139.

The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called

A.

subrogation

B.

contribution

C.

re-insurance

D.

indemnity

Correct answer is C

No explanation has been provided for this answer.

3,140.

The main advantage of road transport is that it is

A.

convenient and flexible

B.

cheap and direct

C.

common and fast

D.

safe and available

Correct answer is A

No explanation has been provided for this answer.