Waec Commerce 1996 Past Questions and Answers

Question 41:

• WAEC 1996

Contracts for the carriage of goods by sea are generally called

A. Charter by demise
B. Charter parties
C. Voyage charters
D. Time charter
E. Marine policy

Question 42:

• WAEC 1996

A nation's earnings from tourism are classified as

A. Visible exports
B. Invisible exports
C. Visible imports
D. Invisible imports
E. Entrepot trade items

Question 43:

• WAEC 1996

An association of employees in an organization is called a

A. Trade union
B. Trade association
C. Consumer association
D. Credit union
E. Co-operative society

Question 44:

• WAEC 1996

A firm that accepts a portion of the risk involved in an insurance contract is

A. A broker
B. An actuary
C. A speculator
D. An underwriter
E. An assessor

Question 45:

• WAEC 1996

Musa places the bicycle for sale at #800.00 and Dada had agreed to pay the amount. In this transaction, Musa is the

A. Offerer
B. Offeree
C. Buyer
D. Guarantor
E. Auctioner