WAEC Commerce Past Questions & Answers - Page 209

1,041.

When an insurance company indemnifies the insured and takes over his rights, this is known as?

A.

abandonment

B.

subrogation

C.

proximate cause

D.

contribution

Correct answer is B

No explanation has been provided for this answer.

1,042.

A retirement insurance policy which enables the assured to receive income for a specific period is?

A.

annuity

B.

endowment

C.

whole life

D.

fidelity guarantee

Correct answer is A

No explanation has been provided for this answer.

1,043.

Which of the following services is not rendered by commercial banks?

A.

Business advice

B.

Currency notes issue

C.

Accepting deposits

D.

Credit transfer

Correct answer is B

No explanation has been provided for this answer.

1,044.

Which of the following encourages people to save towards owning a house?

A.

Merchant bank

B.

Development bank

C.

Mortgage bank

D.

Commercial bank

Correct answer is C

No explanation has been provided for this answer.

1,045.

Which of the following is a means of payments through the post office?

A.

Standing Order

B.

Promissory note

C.

Money order

D.

Telegraphic transfer

Correct answer is C

No explanation has been provided for this answer.