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Commerce Past Questions and Answers

Neco Commerce Questions

Question 241:

Under utmost good faith as an insurance principle, a person must _____________

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A Believe in the sincerity of the insurance company
B Communicate with the insurance company
C Disclose all material facts to the insurance company
D Have utmost personality
E Pay outstanding premium

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Question 242:

The term “enterprise” denotes the ability to _____________

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A Bear risk
B Control other factors of production
C Maximize profit
D Organize other factors of production
E Plan for other factors of production

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Question 243:

Brand name is used to _____________

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A Differentiate one’s goods with others
B Make business much easier
C Make selling more convenient
D Package products
E Standardize goods

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Question 244:

Which of the following groupings is a means of payments through the post office

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A Bank draft, Certified cheque, Money order and Stamps
B Cheque, Postal order, Money order and Bank draft
C Money order, Certified cheques, Telegraphic Money order and Stamps
D Postal order, Money order, Telegraphic Money order and Stamps
E Telegraphic Money order, Cheques, Bank draft and Certified cheques

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Question 245:

Which type of advertisement induces consumer to purchase the goods he does not need?

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A Competitive
B Descriptive
C Informative
D Persuasive
E Specific

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