Commerce Questions and Answers
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Shares, bonds, stocks and debentures traded on the stock exchange are collectively called
collaterals
commodities
resources
securities
Correct answer is D
No explanation has been provided for this answer.
A price quotation which includes all the expenses involved in loading the goods into a ship is
Free on Board (FOB)
Free Alongside Ship (FAS)
Cost, Insurance, Freight (C.I.F)
ex-ship
Correct answer is A
No explanation has been provided for this answer.
To take an insurance policy, an applicant must first complete a/an
proposal form
cover note
certificate of insurance
advice note
Correct answer is A
A proposal form is the form completed by the policyholder when applying for insurance. You will need to fill in information about the risk you are insuring e.g. the rebuild cost of your house or type of car you own.
Ex-works
F.O.R
F.O.B
D.F.A.S
Correct answer is A
No explanation has been provided for this answer.
The insurance principle of indemnity does not apply to
fire insurance
life assurance
burglary insurance
marine insurance
Correct answer is B
The principle of indemnity does not apply to life insurance because, the human being can not easily be evaluated.