NECO Past Questions and Answers - Page 34

166.

Kate insured her fancy store for losses arising from burglary. The store was later burnt down. Which insurance principle denied her compensation?

A.

Contribution

B.

indemnity

C.

Proxirnate cause

D.

Subrogation

E.

Utmost good faith

Correct answer is C

No explanation has been provided for this answer.

167.

When manufacturers sell directly to consumers they have eliminated

A.

advertising agents

B.

brokers

C.

middleman

D.

retailers only

E.

wholesalers

Correct answer is C

No explanation has been provided for this answer.

168.

Short-term loan to expand a business is provided by

A.

building societies

B.

central bank

C.

commercial banks

D.

cooperative societies

E.

mortgage banks

Correct answer is C

No explanation has been provided for this answer.

169.

Equity of a company is another name for....... shares.

A.

cumulative preference

B.

founders

C.

ordinary

D.

preference

E.

redeemable preference

Correct answer is C

No explanation has been provided for this answer.

170.

The drawer of a cheque is usually the

A.

banker

B.

creditor

C.

debtor

D.

payee

E.

presenter

Correct answer is C

No explanation has been provided for this answer.