2016 WAEC Commerce past questions and answers

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1

where a number of insurance companies  are liable under one policy, the principle applicable is ?

A subrogation

B contribution

C indemnity

D utmost good faith



Correct Option: B


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2

Buying and selling stocks in the stock exchange in anticipation of changes in the share price is?

A hedging

B projection

C forecasting

D speculation



Correct Option: D


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3

Another name for a dishonoured cheque is?

A an order cheque

B a bounced cheque

C a bearer cheque

D an open cheque



Correct Option: B


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4

which of the folloing is an example of life insurance

A third party policy

B comprehensive policy

C fidelity guaranteed policy

D endowment policy



Correct Option: D


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5

The main concern of commerce is?

A create wealth

B buy and sell goods and services

C exchange and distribution of goods and services

D satisfy all human wants



Correct Option: B


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6

The organized efforts of consumers to protect themselves against the unfair practices of businessmen is? 

A strike

B consumerism

C picketing

D demonstration



Correct Option: B


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7

which of the following legislations aims primarily at protection of consumers

A law of contract

B trade description act

C company's act

D partnership act



Correct Option: B


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8

in a law of contract, a counter offer operates as?

A an acceptance

B a consensus

C a rejection

D a contract



Correct Option: C


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9

An economy policy which encourages governement ownership of business is called?

A privatization

B nationalization

C indigenization

D commercialization



Correct Option: B


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10

lack of permanent record for the message reciever is a disadvantage of?

A television

B direct mail

C cataloque

D magazine



Correct Option: A


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