Waec Commerce 2007 Past Questions and Answers

Question 46:

• WAEC 2007

Treasury bills are bought and sold in the

A. Capital market
B. Open market
C. Commodity market
D. Money market

Question 47:

• WAEC 2007

Which of the following is legal tender

A. Bank notes
B. Bank drafts
C. Central bank cheque
D. Traveller's cheque

Question 48:

• WAEC 2007

Which of the following is referred to as the oldest form of insurance?

A. Marine insurance
B. Burglary insurance
C. Whole life insurance
D. Accident insurance

Question 49:

• WAEC 2007

An open cheque is one

A. On which the amount is written only in figures
B. Which has no name
C. Which can be cashed over the counter
D. Which has no specific amount written on it

Question 50:

• WAEC 2007

Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope's shop got burnt yesterday by fire from the cooking pot.
Which of the following insurance principles was breached by Madam Tope?

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