Commerce Past Questions and Answers

Insurance companies operate on the principal of indemnity. This means that an insured person or firm collector

A Only half of the loss suffered
B Double the value of the losses suffered
C The total sum of the premium paid prior to the loss
D Damage claims equal to the loss suffered.

Question 257:

The most important difference between community banks and peoples’ bank is that the?

A Latter is owned solely by government while the former are not
B Former cater for ruler dwellers while the latter cater for both rural and urban dwellers
C Former are service oriented while the latter are profit oriented
D Latter advances loans to the public while former advance loans to the rural dwellers only.

Question 258:

The assets, liabilities and general management of a distressed bank may be taken over by?

A International Bank for Reconstruction and development
B Nigeria Industrial Development Bank
C Nigeria Banks Deposit Insurance corporation
D Nigeria Bank for Commerce and Industry

Question 259:

The type of securities that the stock exchange deals with are

A Warrants, currency notes, money orders and postal orders
B Cheques, bankdrafts , warrants and promissory notes
C Bonds ivory, treasure bills, debentures and warrants
D Stocks, shares, bonds and warrants.

Question 260:

(i) Companies must be registered as private limited liability companies. (ii)Companies must not have less than 100 shareholders (iii) No shareholder may have more than 75% of issued shared capital. What of the above are requirements for admission into the second-tier securities market?

A I and ii only.
B I and iii only
C I, ii and iii only
D Ii and iii only.