The insured is prevented from making profit from claims under more than one policy for the same risk by the principle of?

• A. Contribution
• B. Surbrogation
• C. Utmost good faith
• D. Proximate cause

The main document sent to an importer of goods by the exporter are?

• A. invoice, consular invoice, certificate of orign, fright note, indent and insurance policy
• B. indent, bill of lading, certificate of orign, invoice and bill of exchange
• C. certificate of orign, bill of exchange, insurance policy, indent and bill of lading
• D. bill of lading, invoice insurance policy, consular invoice, certificate of orign and bill of exchange

A system in which people provide their own needs directly is known as?

• A. sub-standard economy
• B. subsistence economy
• C. mixed economy
• D. monetized economy

An undertaking given by a person to another assuring his integrity is

• A. proximate cause
• B. fidelity guarantee
• C. subrogation
• D. insurable interest

Which of the following are elements of a valid contract?

• A. Dishcarge and performance
• B. Offer and acceptance
• C. Age and maturity
• D. Promise and capacity

Which of the following refers to sale promotion?

• A. Non- personal presentation of a product
• B. Offering free samples of products
• C. Providing information about a company and its product
• D. Direct contact with the ultimate buyer

The liquid assets of commercial banks are

• A. treasury bills, bills of exchange and cash
• B. cash, current account and other money-bearing assets
• C. deposit accounts and cash
• D. cash only

A partnership is dissolved due to

• A. resignation of an employee
• B. liquidity of the firm
• C. death of the employee
• D. insanity of a partner

The headquarters of the lake Chad Basin Commission is in?

• A. Niamey
• B. N'Djamena
• C. Abuja
• D. Lagos

Average stock is derived by adding

• A. closing stock to purchase divided by 2
• B. closing stock to opening stock
• C. opening stock to closing stock divided by 2
• D. opening stock to purchases