Waec Commerce 2012 Past Questions and Answers

Question 16:

• WAEC 2012

The collection of tariffs on imported goods is the function of

A. Ports Authority
B. Customs and Excise Authority
C. Clearing and Forwarding Agents
D. Export Promotion Council

Question 17:

• WAEC 2012

A licensed person who is authorized to sell to the highest bidder is

A. Principal
B. Factor
C. Broker
D. Auctioneer

Question 18:

• WAEC 2012

An efficient transport system enables a trader to

A. Widen the market for his products
B. Avoid customs examination of goods
C. Adopt better price policy
D. Reduce cost of production

Question 19:

• WAEC 2012

The Central Bank's monetary policy instrument by which it buys and sells treasury bills is known as

A. Open Market Operation
B. Bank rate
C. Cash reserve ratio
D. Special deposit

Question 20:

• WAEC 2012

Which of the following acted as the central bank for West African countries before their independence?

A. The West African Clearing House
B. The British Bank for West Africa
C. The West African Currency Board
D. The African Development Bank