Waec Commerce 2001 Past Questions and Answers

Question 16:

• WAEC 2001

Which of the following is not an objective of ECOWAS?

A. Expansion of trade
B. Encouraging free movement of persons within member states
C. Improvement of infrastructural facilities
D. Promoting a common language

Question 17:

• WAEC 2001

The expert who calculates premium for an insurance policy is?

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

Question 18:

• WAEC 2001

Which of the following means restoring the issue to position he was just before the loss occurred

A. Indemnity
B. Subrogation
C. Proximate cause
D. Utmost good faith

Question 19:

• WAEC 2001

Which of the following is not a means of payment in foreign trade?

A. Telegraphic transfer
B. Cheque
C. Letter of credit
D. Bill of exchange

Question 20:

• WAEC 2001

The act of keeping products in good condition until they are needed is?

A. Insurance
B. Warehousing
C. Communication
D. Advertising