Commerce Past Questions And Answers
A licensed person who is authorized to sell to the highest bidder is
- A. principal
- B. factor
- C. broker
- D. auctioneer
The compensation the insured gets depends heavily on the?
- A. economic situation
- B. premium paid
- C. risk suffered
- D. insurer's bouyancy
The reduction in the value of a country's currency in relation to others is?
- A. re denomination
- B. devaluation
- C. inflation
- D. deflation
Which of these insurance principles requires a close connection between the actual loss suffered and the risk insured?
- A. indemnity
- B. proximate cause
- C. Contribution
- D. Subrogation
The deliberate and sustained efforts of an organization towards the creation of goodwill for its products and services is through?
- A. public relations
- B. advertising
- C. sales promotion
- D. rebranding
Which of the following is not an example of Marine insurance?
- A. Fidelity
- B. Hull
- C. Cargo
- D. Freight
The production of good in anticipation of demand is possible because of the existence of?
- A. packaging
- B. advertising
- C. warehousing
- D. branding
A document that contains the relationship between the company and outsiders is?
- A. certificate of incorporation
- B. memorandum of association
- C. article of association
- D. certificate of trading
A bank's undertaking to pay an exporter on behalf of an importer is a?
- A. documentary credit
- B. letter of credit
- C. letter of hypothecation
- D. bill of exchange
Which of the following are features of a limited liability company?
i. Separate legal entity
ii. Right to sue but not be sued
iii. Has its own corporate name
iv. the inability of members is limited
- A) I, II and III
- B) II, III and IV
- C) I, II and IV
- D) I,III and IV