Waec Commerce 1990 Past Questions and Answers

Question 46:

• WAEC 1990

Which of the following is not required in a Memorandum of Association? The

A. Name of the company
B. Location of the company
C. Names of the Board of Directors
D. Limitation of member's liability
E. Objectives of the company

Question 47:

• WAEC 1990

The amount paid by the insurance company to the insured upon giving up his policy is called?

A. Surrender value
B. Cash bonus
C. Assured sum
D. Dividend
E. Premium

Question 48:

• WAEC 1990

The amount paid by the assured to the insurer is called?

A. Interest
B. Premium
C. Dividend
D. Indemnity
E. Surrender value

Question 49:

• WAEC 1990

With the exception of life assurance and personal accident insurance, contracts of insurance are contracts of?

A. Premium
B. Indemnity
C. Proximate cause
D. Utmost good faith
E. General average cause

Question 50:

• WAEC 1990

An author's exclusive right to published and unpublished works is known as?

A. Patent right
B. Fundaamental human right
C. Copyright
D. Authorship
E. Constitutional right