Waec Commerce 1989 Past Questions and Answers

Question 16:

• WAEC 1989

Under the law of insurance, exemption causes?

A. Enable the insurance to claim on the insurance company
B. Protect the insurance company under the contract
C. Guard against occurrence of the insured events
D. Protect a third party under the contract
E. Protect the insured against the insurance company

Question 17:

• WAEC 1989

The insured is the?

A. Insurance company
B. Insurance company's client
C. Insurance broker
D. Insurance agent
E. Insurance manager

Question 18:

• WAEC 1989

A partnership is formed for banking business is made up of?

A. 2 - 10 members
B. 2 -20members
C. 2 - 30 members
D. 2 - 40 members
E. 2 - 50 members

Question 19:

• WAEC 1989

Whichof the following is not true of limited partnership?

A. Every member is a limited partner
B. All members are general partners
C. All members are limited liability
D. There is at least one ordinary partner
E. Limited and ordinary members must be equal in number

Question 20:

• WAEC 1989

Which of the following is not required for the dissolution of a partnership?

A. Experiation of partnership deed
B. Termination of the venture
C. One partner notifying the other of his intention to dissolve it
D. Mutual consent of the partners
E. Order from the registrar of companies