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Commerce 2013 WAEC Past Questions

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16
Mr Biu has been paying the premium of a straight Life Assurance policy for several years. The surrender value of the policy is the amount that
  • A. would be paid to mr Biu if he should discontinue with the policy
  • B. would be paid to mr Biu's beneficiary if he dies
  • C. is paid annually by mr Biu to the insurance company
  • D. the amount mr Biu has paid plus interest
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17
Which of the following protects consumers against poor quality foods
  • A. Chambers of Commerce
  • B. Standard Organization
  • C. Trade Association
  • D. Manufacturers Association
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18
The use of current account in business is convenient because
  • A. withdrawal can be made at any time
  • B. deposits earn higher interests
  • C. loans are always available
  • D. notices are necessary befor withdrawals
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19
The cost of telephone conversation is determined by
  • A. number of words spoken
  • B. person sending the message
  • C. duration of the conversation
  • D. urgency of the message conveyed
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20

"Not Negotiable" on a cheque means

  • A. ownership can be transferred to the third party by mere delivery
  • B. the cheque can be paid over the counter on endorsement
  • C. the holder has no better title than the person person who transfers it
  • D. ownership rests with the one who issued the cheque
View Answer & Discuss (1) WAEC 2013
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