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Commerce Past Questions and Answers

Waec Commerce Questions

Question 16:

Under the law of insurance, exemption causes?

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A Enable the insurance to claim on the insurance company
B Protect the insurance company under the contract
C Guard against occurrence of the insured events
D Protect a third party under the contract
E Protect the insured against the insurance company

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Question 17:

The insured is the?

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A Insurance company
B Insurance company's client
C Insurance broker
D Insurance agent
E Insurance manager

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Question 18:

A partnership is formed for banking business is made up of?

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A 2 - 10 members
B 2 -20members
C 2 - 30 members
D 2 - 40 members
E 2 - 50 members

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Question 19:

Whichof the following is not true of limited partnership?

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A Every member is a limited partner
B All members are general partners
C All members are limited liability
D There is at least one ordinary partner
E Limited and ordinary members must be equal in number

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Question 20:

Which of the following is not required for the dissolution of a partnership?

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A Experiation of partnership deed
B Termination of the venture
C One partner notifying the other of his intention to dissolve it
D Mutual consent of the partners
E Order from the registrar of companies

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