WAEC Past Questions and Answers - Page 22

106.

Who among the following does not render direct service?

A.

Teacher

B.

Musician

C.

Doctor

D.

Retailer

Correct answer is B

Direct services means services provided through person-to-person contact

107.

Which of the following is not the function of commerce

A.

the conversion of raw materials into semi-finished products

B.

the conversion of semi-finished products into end products

C.

Provision of services to customers

D.

The exchange and distribution of goods and services

Correct answer is D

No explanation has been provided for this answer.

108.

If a share is quoted ex-div, it means the new buyer would

A.

get the next dividend

B.

not get the next dividend

C.

get a fixed dividend

D.

not get any dividend

Correct answer is B

Ex-dividend describes a stock that is trading without the value of the next dividend payment.

109.

Voyage policy insurance is associated with

A.

fire

B.

life

C.

marine

D.

burglary

Correct answer is C

A voyage policy is marine insurance coverage for possible damage to a ship's cargo. 

110.

An insurance principle that prevents a person from insuring what he does not stand to lose financially if the insured risk occurs is

A.

indemnity

B.

insurable interest

C.

proximate cause

D.

subrogation

Correct answer is B

Insurable interest; A principle that states that an insured may not collect more than its own financial interest in property that is damaged or destroyed.