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Friday, 13 November 2026
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Commerce Past Questions and Answers

Waec Commerce Questions

Question 1456:
The term "utmost good faith" in insurance requires that the insured must
  • A Make profit from any loss suffered
  • B Receive his compensation fully in the event of loss
  • C Disclose all relevant facts on what is being insured
  • D Pay his premium regularly
View Answer & Explanation
Question 1457:
Commercial banks usually settle their interbank indebtedness through the
  • A Money market
  • B Clearing house
  • C Discount house
  • D Stock exchange
View Answer & Explanation
Question 1458:
Which of the following retail outlets is described as selling without shops
  • A Multiple stoes
  • B Supermarket
  • C Mail order business
  • D Department stores
View Answer & Explanation
Question 1459:
Which of the following arranges for the conveyance of goods abroad
  • A Ports Authority
  • B Customs and Excise Authority
  • C Airports Authority
  • D Export Promotion Council
View Answer & Explanation
Question 1460:
The difference between the cost of goods sold and the sales value is known as
  • A Net profit
  • B Net loss
  • C Gross profit or loss
  • D Surplus
View Answer & Explanation