Neco Commerce Past Questions and Answers

Question 41:

• NECO 2000

The deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of ____________

A. An actual total loss
B. A constructive total loss
C. A general average loss,
D. A partial loss
E. A total loss

Question 42:

• NECO 2000

All the following are principles of insurance EXCEPT

A. Indemnity
B. Insurable interest
C. Particular average
D. Subrogation
E. Utmost good faith

Question 43:

• NECO 2000

A person who runs a business on his own account is called a ____________

A. Creditor
B. Customer
C. Director
D. Partner
E. Sole trader

Question 44:

• NECO 2000

The first Nigerian enterprises promotion decree was promulgated in ____________

A. 1972
B. 1973
C. 1974
D. 1977
E. 1980

Question 45:

• NECO 2000

A multiple shop has many stores which sell

A. Graded goods
B. Locally produced goods
C. Manufactured goods
D. Persihable goods
E. Similar goods