Waec Commerce 2013 Past Questions and Answers

Question 46:

• WAEC 2013

The ancillary to trade which ensures that people have access to information pertaining to goods is

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

Question 47:

• WAEC 2013

The insurance principle of indemnity does not apply to

A. Fire insurance
B. Life assurance
C. Burglary insurance
D. Marine insurance

Question 48:

• WAEC 2013

Which of the following price quotations requires the buyer to take delivery at the manufacturer's warehouse?

A. Ex-works
B. F.O.R
C. F.O.B
D. D.F.A.S

Question 49:

• WAEC 2013

To take an insurance policy, an applicant must first complete a/an

A. Proposal form
B. Cover note
C. Certificate of insurance
D. Advice note

Question 50:

• WAEC 2013

(a) Distinguish between Commerce and Industry
(b) (i) Explain three activities involved in industry
(ii) Explain five activities involved in commerce