Neco Commerce 2007 Past Questions and Answers

Question 1:

• NECO 2007

The reply to a letter of inquiry is a/an ____________

A. Advice note
B. Estimate
C. Order
D. Quotation
E. Statement

Question 2:

• NECO 2007

Which of the following is NOT true of a cheque as a means of payment? It ____________

A. Can be made out of a definite payee
B. Is generally acceptable
C. Is safer than carrying cash
D. Is transferable
E. Serves as a proof of payment

Question 3:

• NECO 2007

Which of the following is NOT true of a cheque as a means of payment? It ____________

A. Can be made out of a definite payee
B. Is generally acceptable
C. Is safer than carrying cash
D. Is transferable
E. Serves as a proof of payment

Question 4:

• NECO 2007

From the date of issue, cheques are valid for ____________ months.

A. 3
B. 4
C. 5
D. 6
E. 9

Question 5:

• NECO 2007

An arrangement in insurance which provides for the payment of a stipulated sum either at death or the expiration of a stated period is known as ____________

A. Accident
B. Endowment
C. Fire
D. Fidelity
E. Whole life