WAEC Commerce Past Questions & Answers - Page 263

1,311.

Which of the following is a non-insurable risk?

A.

Loss from fire accident

B.

Loos from accident and sickness

C.

Fidelity guarantee

D.

Burglary

E.

Loss from staking in lotteries

Correct answer is E

No explanation has been provided for this answer.

1,312.

Commercial banks deposits with the Central Bank help to?

A.

increase loan prospects

B.

control the supply of money credits

C.

check bank frauds

D.

increase bank customers

E.

encourage rural banking services

Correct answer is B

No explanation has been provided for this answer.

1,313.

An order stating the goods required but not the manufacturer from whom the foreign buyer intends to buy his goods is called?

A.

Indent

B.

Open indent

C.

Closed indent

D.

Export order

E.

Import order

Correct answer is B

No explanation has been provided for this answer.

1,314.

A cheque dated 5/8/91 was dishonoured because it was a?

A.

Certified cheque

B.

Marked cheque

C.

Specially crossed cheque

D.

Post-dated cheque

E.

Stale cheque

Correct answer is D

No explanation has been provided for this answer.

1,315.

A deduction made by a wholesaler from the catalogue price and which represents a retailer's profit margin is called?

A.

Cash discount

B.

Deferred discount

C.

Trade discount

D.

Quantity discount

E.

Cash on delivery

Correct answer is C

No explanation has been provided for this answer.