Waec Commerce Past Questions and Answers

Question 2296:

• WAEC 2021

The practice by which insurance companies share risks with other insurance companies is

A. Contribution
B. Re-insurance
C. Insurance
D. Underwriting

Question 2297:

• WAEC 2021

One of the functions of the ports authority is

A. Checking the activities of smugglers.
B. Collecting import duties
C. Enforcing law ad order in harbours
D. Providing warehousing services.

Question 2298:

• WAEC 2021

Which of the following means of payment requires acceptance by the debtor to make it valuable?

A. Bearer's cheque
B. Bill of exchange
C. Postal order
D. Promissory note

Question 2299:

• WAEC 2021

The purpose for which the Central Bank sells securities is to

A. Reduce the interest rate
B. Reduce cash in the economy
C. Increase cash in the economy
D. Incrcase the interest rate

Question 2300:

• WAEC 2021

The amount a current account holder is allowed to withdraw in excess of the balance in his account is ____________

A. Standing order
B. Overdraft
C. Interest
D. Credit transfer