Waec Commerce 2002 Past Questions and Answers

Question 26:

• WAEC 2002

When shares are fully paid they can be converted into?

A. Bonds
B. Debentures
C. Stocks
D. Treasury bills

Question 27:

• WAEC 2002

The minimum charge at which the Central Bank lend to commercial banks is called?

A. Discount rate
B. Bank rate
C. Market rate
D. Interest rate

Question 28:

• WAEC 2002

The transfer of risks already undertaken from insurance one insurance company to another is?

A. Over-insurance
B. Re-insurance
C. Under insurance
D. Group insurance

Question 29:

• WAEC 2002

Hull insurance is taken to cover?

A. Injury to the crew of the ship
B. Non-payment of freight
C. Damage to the cargo
D. Damage to body of the ship

Question 30:

• WAEC 2002

The principle of subrogation imposes an obligation on the insured to?

A. Disclose all material information
B. Have financial risks in object insured
C. Collect compensation from only insurer
D. Surrender legal rights after compensation