Which of the following is a traditional medium of communication used to mark festivals?

• A. Palm frond
• B. Metal gong
• C. Talking drum
• D. Gum blast

When a number of thrift societies come together and are registered, they become a?

• A. holding company
• B. credit union
• C. trade union
• D. consumer association

Charges for loans paid by commercial banks to the Central Bank of Nigeria are called?

• A. bank rates
• B. credits charges
• C. interest rates
• D. bank charges

The factor of production that is fixed in nature is

• A. land
• B. labour
• C. entrepreneurship
• D. capital

Which of the following is a legal tender?

• A. Cheque
• B. Travellers cheque
• C. Bank note
• D. Goldsmith receipt

Notes and coins are legal tender because they are

• A. printed by the Central Bank
• B. backed by law
• C. backed by gold
• D. issued by all banks

Explain each of the following classes of insurance:

(a) Marine insurance

(b)Accident insurance

(c)Group insurance

(d) Fidelity Guarantee insurance

(e) Consequential Loss Insurance.

Which of the following legislation aims primarily at the protection of consumers?

• A. Law of contract
• B. Trade description Act
• C. Company's Act
• D. Partnership Act

An advantage of the Second-Tier Securities Market to an economy is in

• A. creating avenues for investment
• B. regulating competition amongst companies
• C. granting financial assistance to consumers
• D. increasing companies profit margins

Use the information above to answer this question What is the ratio?

• A. 2.95:1
• B. 4.25:1
• C. 4.75:1
• D. 5,55:1