Which of the following is not a function of the retailing?

• A. Buying in bulk and warehousing
• B. Buying and selling in bits to consumers
• C. Advising consumers on the right type of goods
• D. Granting credits to customers

Taxes imposed on locally made goods are known as?

• A. ad valorem
• B. import duties
• C. export drawback
• D. excise duties

The refund made by on goods re-exported after being imported is known as?

• A. import duty
• B. export duty
• C. excise drawback
• D. customs drawback

Which of the following documents is required when a bill of lading is not readily available to enable the goods to be landed?

• A. Bill of exchange
• B. Certificate of origin
• C. Consumers invoice
• D. Bill of sight

Distinguish between the following pairs of terms used in insurance:

(a) Third party and comprehensive policy

(b) Whole life and endowment policy

(c) Insurance and assurance

(d) Premium and compensation.

Which of the following requires services of middlemen?

• A. Technical goods
• B. Expensive goods
• C. Convenience goods
• D. Perishable goods

The function of the amniotic fluid in humans is to

• A. protect the foetus against shocks
• B. remove waste products from the foetus
• C. supply food and water to foetus
• D. carry oxygen to the foetus

To sell a bill at less that the face value before its maturity is?

• A. discounting
• B. retiring
• C. accepting
• D. noting

A partner without an unlimited liability is known as a?

• A. dormant partner
• B. nominal partner
• C. general partner
• D. active partner

If the insured has been fully indemnified, the insurers are entitled to take any advantage due the insured. The principle of insurance involved is?

• A. indemnity
• B. suborgation
• C. contribution
• D. insurable interest