Waec Commerce 2007 Past Questions and Answers

Question 51:

• 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 will prevent her from claiming compensation?

A. Indemnity
B. Insurable interest
C. Proximate cause
D. Utmost good faith

Question 52:

• 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.
The amount D60,000 quoted represents

A. Premium
B. Sum insured
C. Contribution
D. Compensation

Question 53:

• WAEC 2007

If the charterer delayed the ship beyond the lay days, he is asked to pay

A. Dead freight
B. Demurrage
C. Lump sum
D. Freight

Question 54:

• WAEC 2007

Which of the following involves the delivery of mails to a traveler without a fixed address

A. Speedpost
B. Reply paid
C. Recorded delivery
D. Post restante

Question 55:

• WAEC 2007

A document showing full details of the goods and passengers carried in a ship or aircraft is

A. Bill of lading
B. Airway bill
C. Manifest
D. Indent