Waec Commerce Past Questions
Question 6
One of the features of reinsurance is the
- A. total transfer of risk from one company to another
- B. protection of insurance company by the government
- C. protection of the insured by the third party
- D. collection of indemnity by third party only
- E. transfer of a portion of risk from one insurer to another
Question 7
Which of the following is not one of the aims of indigenization? To
- A. reduce the remittance of profits aboard
- B. increase the control of the government over its economy
- C. expose the indigenes to different business enterprises
- D. collection of indemnity by third party only
- E. transfer of a portion of risk from one insurer to another
Question 8
An agent with authority to bind his principal in everything, provided he acts lawfully is called
- A. a del credere agent
- B. a special agent
- C. a universal agent
- D. a factor
- E. an aunctioneer
Question 9
The art of combining human, material and other resources to achieve the stated goals of a business is known as
- A. planning
- B. controlling
- C. motivation
- D. directing
- E. organizing
Question 10
A restriction on the quantity of a commodity that could be imported is known as
- A. licence
- B. price control
- C. quota
- D. tariff
- E. ban
