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Commerce Past Questions and Answers

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Commerce Questions

Question 3306:

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

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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

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Question 3307:

Which of the following protects consumers against poor quality foods

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

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Question 3308:

The use of current account in business is convenient because

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

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Question 3309:

The cost of telephone conversation is determined by

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

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Question 3310:

"Not Negotiable" on a cheque means

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A Ownership can be transferred to the third party by mere delivery
B The cheque can be paid over the counter on endorsement
C The holder has no better title than the person person who transfers it
D Ownership rests with the one who issued the cheque

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