Question 1 of 20 50 total questions
Which of the following is not function of money? it?
A is a medium of exchange
B serves as a store of value
C is easily recognizable
D make deferred payments possible
The principle of subrogation imposes an obligation on the insured to?
A disclose all material information
B have financial risks in object insured
C collect compensation from only insurer
D surrender legal rights after compensation
Hull insurance is taken to cover?
A injury to the crew of the ship
B non-payment of freight
C damage to the cargo
D damage to body of the ship
The transfer of risks already undertaken from insurance one insurance company to another is?
A over-insurance
B re-insurance
C under insurance
D group insurance
The minimum charge at which the Central Bank lend to commercial banks is called?
A discount rate
B bank rate
C market rate
D interest rate
When shares are fully paid they can be converted into?
A bonds
B debentures
C stocks
D treasury bills
The drawer of a bill of exchange which is not discount is also the?
A 30 days
B 2months
C 6 months
D 12 months
The trade document signed by a representative of the country to which is not discounted is also the?
A consular invoice
B certificate invoice
C consignment invoice
D proforma invoice
Which of the following is sent by a customer who wishes to know the price, quality and terms of sale of a product?
A Quotation
B Letter of Enquiry
C Proforma invoice
D Advice note
An agreement by which a buyer pays instalmentally but does until final settlement is made is?
A hire purchase
B deferred payment
C conditional sale
D features trading
Department store usually?
A offers a wide variety goods
B specialize in selling only household goods
C offer a few line of goods
D sell on cash on delivery basis
In international trade the direct exchange of goods for goods is?
A bilateral trade
B counter trade
C multi lateral trade
D entrepot trade
Which of the following requires acceptance before it can be valid?
A Promissory note
B Bill of exchange
C Letter of credit
D Cheque
A retail outlet meant to sell only a particular manufacturer's product known as a?
A co-operative shop
B chain store
C department store
D tied shop
Which of the following requires acceptances before it can be valid?
A Promissory note
B Bill of exchange
C Letter of credit
D Cheque
The rate at which a country's currency is converted to the currency of another country is known as?
A terms of trade
B terms of payment
C exchange rate
D bank rate
A retail outlet meant to sell only a particular manufacturer's product known as a?
A co-operative shop
B chain store
C department store shop
D tied
Where two or more companies agree to work on a project too large for one of them, this is called?
A consortium
B merger
C combination
D cartel
Detailed information about a public offer of a company's shares is contained in the?
A memorandum of association
B article of association
C letter of enquiry
D prospectus
When shares are sold "EX-DIV" it means that?
A no dividend is paid on the shares
B the buyer receives the dividend
C the seller receives the dividends
D the stock exchange retains the dividend
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