Commerce 2013 Waec Past Questions and Answers

Question 16 :

• WAEC 2013

An insurance policy that covers the body of the ship only is called

A. Haulage insurance
B. Voyage insurance
C. Hull insurance
D. Cargo insurance

Question 17 :

• WAEC 2013

Mr Biu has been paying the premium of a straight Life Assurance policy for several years. The surrender value of the policy is the amount that

A. Would be paid to mr Biu if he should discontinue with the policy
B. Would be paid to mr Biu's beneficiary if he dies
C. Is paid annually by mr Biu to the insurance company
D. The amount mr Biu has paid plus interest

Question 18 :

• WAEC 2013

Which of the following protects consumers against poor quality foods

A. Chambers of Commerce
B. Standard Organization
C. Trade Association
D. Manufacturers Association

Question 19 :

• WAEC 2013

The use of current account in business is convenient because

A. Withdrawal can be made at any time
B. Deposits earn higher interests
C. Loans are always available
D. Notices are necessary befor withdrawals

Question 20 :

• WAEC 2013

The cost of telephone conversation is determined by

A. Number of words spoken
B. Person sending the message
C. Duration of the conversation
D. Urgency of the message conveyed