WAEC Commerce Past Questions & Answers - Page 20

96.

The cost of telephone conversation is determined by

A.

number of words spoken

B.

person sending the message

C.

duration of the conversation

D.

urgency of the message conveyed

Correct answer is C

No explanation has been provided for this answer.

97.

The use of current account in business is convenient because

A.

withdrawal can be made at any time

B.

deposits earn higher interests

C.

loans are always available

D.

notices are necessary befor withdrawals

Correct answer is A

No explanation has been provided for this answer.

98.

Which of the following protects consumers against poor quality foods

A.

Chambers of Commerce

B.

Standard Organization

C.

Trade Association

D.

Manufacturers Association

Correct answer is B

No explanation has been provided for this answer.

99.

Mr Biu has been paying the premium of a straight Life Assurance policy for several years. The surrender value of the policy is the amount that

A.

would be paid to mr Biu if he should discontinue with the policy

B.

would be paid to mr Biu's beneficiary if he dies

C.

is paid annually by mr Biu to the insurance company

D.

the amount mr Biu has paid plus interest

Correct answer is A

No explanation has been provided for this answer.

100.

An insurance policy that covers the body of the ship only is called

A.

Haulage insurance

B.

Voyage insurance

C.

Hull insurance

D.

Cargo insurance

Correct answer is C

No explanation has been provided for this answer.