Waec Commerce 1998 Past Questions and Answers

Question 26:

• WAEC 1998

Which of the following is an example of insurable risk?

A. Change in consumer's taste
B. The probability of a third world war
C. Flood resulting from excessive rain in a year
D. The death of a business partner
E. Loss due to change in fashion

Question 27:

• WAEC 1998

If Mr Olu insures Mr Obi's house, the insurer may, in event of a loss, refuse to pay compensation based on the principle of

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

Question 28:

• WAEC 1998

Which of the following shows the quality of money

A. Ability to represent both small and large values
B. Used for deffered payments
C. Used as a unit for account
D. Facilitating exchange
E. Serving as a store of wealth

Question 29:

• WAEC 1998

The speculator in the stock exchange market who sells securities in anticipation of a fall in price is called a

A. Bull
B. Jobber
C. Bear
D. Stag
E. Broker

Question 30:

• WAEC 1998

An action taken by a seller to avoid risks from unforeseeable price fluctuation is known as

A. Tendering
B. Aunctioneering
C. Quotation
D. Hedging
E. Haggling