Neco Commerce Past Questions and Answers

Question 241:

• NECO 2004

Under utmost good faith as an insurance principle, a person must _____________

A. Believe in the sincerity of the insurance company
B. Communicate with the insurance company
C. Disclose all material facts to the insurance company
D. Have utmost personality
E. Pay outstanding premium

Question 242:

• NECO 2004

The term “enterprise” denotes the ability to _____________

A. Bear risk
B. Control other factors of production
C. Maximize profit
D. Organize other factors of production
E. Plan for other factors of production

Question 243:

• NECO 2004

Brand name is used to _____________

A. Differentiate one’s goods with others
B. Make business much easier
C. Make selling more convenient
D. Package products
E. Standardize goods

Question 244:

• NECO 2005

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

A. Bank draft, Certified cheque, Money order and Stamps
B. Cheque, Postal order, Money order and Bank draft
C. Money order, Certified cheques, Telegraphic Money order and Stamps
D. Postal order, Money order, Telegraphic Money order and Stamps
E. Telegraphic Money order, Cheques, Bank draft and Certified cheques

Question 245:

• NECO 2005

Which type of advertisement induces consumer to purchase the goods he does not need?

A. Competitive
B. Descriptive
C. Informative
D. Persuasive
E. Specific