Waec Commerce 1997 Past Questions and Answers

Question 86:

• WAEC 1997

One of the features of reinsurance is the

A. Total transfer of risk from one company to another
B. Protection of insurance company by the government
C. Protection of the insured by the third party
D. Collection of indemnity by third party only
E. Transfer of a portion of risk from one insurer to another

Question 87:

• WAEC 1997

Which of the following is used in home trade?

A. Bill of lading
B. Bank draft
C. Letter of credit
D. Certificate of origin
E. Documentary credit

Question 88:

• WAEC 1997

To which of the following occupations does a broker belong?

A. Extractive
B. Manufacturing
C. Commercial
D. Constructive
E. Direct services

Question 89:

• WAEC 1997

When firms that operate at different stages in the production of a commodity merge, this is known as

A. Horizontal intergration
B. Vertical intergration
C. Absorption
D. Conglomerate
E. Cartel

Question 90:

• WAEC 1997

The document which gives the current price and terms of trade of a product is called?

A. A letter of credit
B. An invoice
C. An advice note
D. A consignment note
E. An order form