Question 1 of 20 2,221 total questions
A firm that accepts a portion of the risk involved in an insurance contract is
A a broker
B an actuary
C a speculator
D an underwriter
E an assessor
An association of employees in an organization is called a
A trade union
B trade association
C consumer association
D credit union
E co-operative society
A nation's earnings from tourism are classified as
A visible exports
B invisible exports
C visible imports
D invisible imports
E entrepot trade items
Contracts for the carriage of goods by sea are generally called
A charter by demise
B charter parties
C voyage charters
D time charter
E marine policy
Another name for sea taxi is
A tramp
B liner
C special frieghter
D voyage charter
E flying boat
Which of the following is primarily established to promote the growth of industry in Nigeria?
A NITEL
B UBA
C NIPOST
D NIDB
E UAC
The capital market is a market
A for long term loans
B for new shares of public companies
C where money is deposited
D where foreign currencies are bought and sold
E for short term loans
Which of the following is not a barrier to the smooth functioning of ECOWAS?
A Different currencies
B Different languages
C Adequate population
D Political crisis
E Fear of domination
Which of the following is has a fixed rate of dividend?
A Debenture
B Ordinary share
C Founder's share
D Preference share
E Equity
The primary aim of commerce is to
A produce goods and services
B warehouse goods
C advertise goods and services
D finance goods and services
E exchange goods and services
When the government decides to run a statutory corporation as a profit-oriented enterprise, this is known as
A nationalization
B commercialization
C take-over bid
D privatization
E indegenization
An association of businessmen engaged in both commerce and industry is called
A trade association
B Trade union
C chamber of commerce
D trust
E cartel
Tax levied on goods at each stage of their movement from production to the final consumer is known as
A customs drawback
B ad valorem duty
C specific tax
D value added tax
E tariff
In marine insurance, the deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of
A a constructive loss
B a partial loss
C a general average loss
D a total loss
E an actual total loss
Small scale retail attracts a lot of new enterpreneurs in West Africa because
A many people have had good training in retail trade
B it is easy to succeed with the business
C banks are always ready to lend retailers
D only a small amouynt of capital is needed to start the business
E government exempts retailers from paying tax
The document issued to a newly formed public company to commence business is called the
A certificate of incorporation
B articles of association
C memorandum of association
D trading certificate
E insurance certificate
Which of the following is a non-indemnity insurance?
A Personal Accident Insurance
B Burglary Insurance
C Fire Insurance
D Consequential loss Insurance
E Third Party Insurance
The law governing the operations of companies and partnership in Nigeria is the
A Nigerian Companies Decree
B Nigerian Partnership Act
C Nigerian Enterprises Promotion Decree
D Companies And Allied Matters Decree
E Sale of Goods Act
Which of the following is drawn up as a guide to the running of a Partnership?
A Deed of Agreement
B Partnership Act
C Memorandum of Association
D Prospectus
E Articles of Association
Which of the following regulates and controls the activities of the Nigerian Stock Exchange?
A The Nigerian Capital Market Association
B The Securities and Exchange Commmission
C The Nigerian Deposit Insurance Commission
D The Nigerian Reinsurance Corporation
E The Central Bank of Nigeria
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