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The principle of insurance that prevents the insured from benefiting in an event where he suffers no material or financial loss is
AIndemnity
Binsurable
Cproximate cause
Dsubrogation
Eutmost good faith
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Question 22
neco2007
Which of the following is an objective of regional economic grouping?
AFor easy religious interactions
BFor single political governance
CFor stable political governance
DTo encourage free flow of trade among members
ETo harmonize the culture of member countries
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Question 23
neco2007
The building of schools and hospitals for communities by some oil companies in Niger Delta of Nigeria is an example of
Abusiness diversification
Bbusiness integration
Cconsumer protection
Ddischarge of social responsibility
Eindigenization
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Question 24
neco2007
When a cheque has R/D written on it, it means that the cheque
Ahas been dishonoured
Bhas been honoured
Chas been paid into the drawer's account
Dhas not been signed
Eis wrongly worded
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Question 25
neco2007
An example of a secured loan is
Abackdraft
Bco-operative loan
Cmortgage
Doverdraft
Etrade credit
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Question 26
neco2007
A document that is sent by the seller to the buyer to indicate an increase in the annual owes is
Acredit note
Bdebit note
Cinvoice
Dletter of credit
Ereceipt
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Question 27
neco2007
The department responsible for recruitment and promotion of staff is
Afinance
Blegal
Cpersonnel
Dproduction
Epurchases
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Question 28
neco2007
The final stage in the production process is
Aconsumption
Bmanufacturing
Cretailing
Dwarehousing
Ewholesaling
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Question 29
waec2007
A document showing that a person has shipped certain goods through a named ship is
Abill of lading
Bbill of exchange
Cdock warrant
Dbill of entry
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Question 30
waec2007
A specialist on the stock exchange who buys and sells securities in his own name is a
AStag
BBull
CBroker
DJobber
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Question 31
waec2007
Which of the following refers to the division of market into identifiable sub-markets
AMarket research
BMarket segmentation
CMarket penetration
DMarketing mix
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Question 32
waec2007
Which of the following is an advantage of transportation by sea?
AGoods can be delivered from door to door
Bit is a cheaper means of transporting goods
Cit is accident free
Dit is the fastest means of transport
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Question 33
waec2007
Which of the following provides evidence of receipt of an important document sent through the post?
ARecorded delivery service
BAir mail service
CLetter post
DExpress delivery service
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Question 34
waec2007
Which of the following is not a means of water transport
ALiner
BTanker
CTruck
DBarge
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Question 35
waec2007
A document showing full details of the goods and passengers carried in a ship or aircraft is
ABill of lading
BAirway bill
CManifest
DIndent
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Question 36
waec2007
Which of the following involves the delivery of mails to a traveler without a fixed address
ASpeedpost
BReply paid
CRecorded delivery
DPost restante
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Question 37
waec2007
If the charterer delayed the ship beyond the lay days, he is asked to pay
Adead freight
Bdemurrage
Clump sum
Dfreight
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Question 38
waec2007
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope's shop got burnt yesterday by fire from the cooking pot.
The amount D60,000 quoted represents
APremium
Bsum insured
Ccontribution
Dcompensation
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Question 39
waec2007
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope's shop got burnt yesterday by fire from the cooking pot.
Which of the following insurance principles will prevent her from claiming compensation?
Aindemnity
Binsurable interest
CProximate cause
DUtmost good faith
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Question 40
waec2007
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope's shop got burnt yesterday by fire from the cooking pot.
Which of the following insurance principles was breached by Madam Tope?
