WAEC Past Questions and Answers - Page 191

951.

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

Correct answer is A

No explanation has been provided for this answer.

952.

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

Correct answer is B

No explanation has been provided for this answer.

953.

Goods in bonded warehouses are under the strict supervision of the

A.

Customs Authority

B.

Ports Authority

C.

Importer

D.

Clearing agent

E.

Exporter

Correct answer is A

No explanation has been provided for this answer.

954.

The price charged for leasing a ship is known as

A.

way bill

B.

haulage

C.

clean bill

D.

freight

E.

demurrage

Correct answer is D

No explanation has been provided for this answer.

955.

Mr Chidi insured his house against fire. The house was destroyed by flood. Which of the following principles prevented him from being compensated?

A.

Uberrimae fidei

B.

Subrogation

C.

Indemnity

D.

Proximate cause

E.

Insurable interest

Correct answer is D

No explanation has been provided for this answer.