NECO Past Questions and Answers - Page 15

71.

An arrangement in insurance which provides for the payment of a stipulated sum either at death or the expiration of a stated period is known as ……….

A.

accident

B.

endowment

C.

fire

D.

fidelity

E.

whole life

Correct answer is B

No explanation has been provided for this answer.

72.

From the date of issue, cheques are valid for-----------months.

A.

3

B.

4

C.

5

D.

6

E.

9

Correct answer is D

No explanation has been provided for this answer.

73.

Which of the following is NOT true of a cheque as a means of payment? It

A.

can be made out of a definite payee

B.

is generally acceptable

C.

is safer than carrying cash

D.

is transferable

E.

serves as a proof of payment

Correct answer is B

No explanation has been provided for this answer.

74.

The reply to a letter of inquiry is a/an

A.

advice note

B.

estimate

C.

order

D.

quotation

E.

statement

Correct answer is D

No explanation has been provided for this answer.

75.

Coal mining is an example of

A.

construction

B.

service

C.

extraction

D.

manufacturing

E.

tertiary

Correct answer is C

No explanation has been provided for this answer.