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Wednesday, 11 November 2026
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Commerce Past Questions and Answers

Waec Commerce Questions

Question 146:
Which of the following is not required in a Memorandum of Association? The
  • A Name of the company
  • B Location of the company
  • C Names of the Board of Directors
  • D Limitation of member's liability
  • E Objectives of the company
View Answer & Explanation
Question 147:
The amount paid by the insurance company to the insured upon giving up his policy is called?
  • A Surrender value
  • B Cash bonus
  • C Assured sum
  • D Dividend
  • E Premium
View Answer & Explanation
Question 148:
The amount paid by the assured to the insurer is called?
  • A Interest
  • B Premium
  • C Dividend
  • D Indemnity
  • E Surrender value
View Answer & Explanation
Question 149:
With the exception of life assurance and personal accident insurance, contracts of insurance are contracts of?
  • A Premium
  • B Indemnity
  • C Proximate cause
  • D Utmost good faith
  • E General average cause
View Answer & Explanation
Question 150:
An author's exclusive right to published and unpublished works is known as?
  • A Patent right
  • B Fundaamental human right
  • C Copyright
  • D Authorship
  • E Constitutional right
View Answer & Explanation