WASSCE COMMERCE MAY/JUNE 2012 (SSCE WAEC MAY/JUNE 2012 COMMERCE)
1
The development of trade in West Africa was aided by the?
A. emergence of traditional rulers
B. arrival of the portuguese
C. introduction of tax payment
D. introduction of money
2
An issuing house is an outlet for?
A. new shares and bonds
B. non-listed companies shares
C. existing shares and bonds
D. only gilt-edged securities
3
Which of the following is quoted when the buyer is responsible for the cost of loading the goods from the seller's warehouse up to his own warehouse?
A. F.O.R
B. C.I.F
C. F.A.S
D. Loco
4
The relationship between all imports and exports of a country is known as?
A. terms of trade
B. balance of trade
C. balance of payment
D. terms of payment
5
Which of the following is an example of large-scale retailing?
A. Hawking
B. Mobile shops
C. Kiosks
D. Departmental stores
6
A cheque drawn by a bank on itself a/an?
A. direct debit
B. bank draft
C. bank transfer
D. overdraft
7
A voluntary body formed by people in the same line of business for the purpose of protecting there interest is a?
A. trade association
B. trade union
C. chamber of commerce
D. trading partnership
8
Those who are engaged in the distribution of goods belong to?
A. commercial occupation
B. extractive industry
C. manufacturing industry
D. construction industry
9
When an insurance policy is declared void because of a false declaration; the principle involved is?
A. indemnity
B. subrogation
C. proximate clause
D. utmost good faith
10
Buildings and machinery used in the running of a business are examples of?
A. current assets
B. intangible assets
C. liquid assets
D. fixed assets
11
Which of the following is classified as invisible item in balance of payment?
A. Import of goods
B. Salaries of expatriates
C. Export of groundnuts
D. sale of equipments
12
Collecting information on the taste of consumers and the extent of demand for a product is?
A. market research
B. market segmentation
C. marketing mix
D. marketing concept
13
Which of the following is not an insurance of indemnity?
A. Life
B. Marine
C. Burglary
D. Fire
14
The entitlement of a debenture holder from a company's income is know as?
A. commission
B. interest
C. lien
D. dividend
15
The collection of tariffs on imported goods is the function of?
A. Ports authority
B. Customs and Excise Authority
C. Clearing and Forwarding Agents
D. Export Promotion Council
16
A licensed person who is authorized to sell to the highest bidder is?
A. principal
B. factor
C. broker
D. auctioneer
17
An efficient transport system enables a trader to?
A. widen the market for his products
B. avoid customs examination of goods
C. adopt better price policy
D. reduce cost of production
18
The Central Bank's monetary policy instrument by which it buys and sells treasury bills is known as?
A. Open Market Operation
B. Bank rate
C. Cash reserve ratio
D. Special deposit
19
Which of the following acted as the Central Bank of West African countries before their independence?
A. The West African Clearing House
B. The British Bank For West Africa
C. The West African Currency Board
D. The African Development Bank
20
Current account holders withdraw money by means of?
A. credit card
B. draft
C. withdrawal slip
D. cheque
21
The development of trade in West Africa was aided by the
A. emergence of traditional rulers
B. arrival of the Portuguese
C. Introduction of tax payment
D. introduction of money
22
An issuing house is an outlet for
A. new shares and bonds
B. non-listed companies shares
C. existing shares and bonds
D. only gilt-edged securities
23
Which of the following is quoted when the buyer is responsible for the cost of loading the goods from the seller's warehouse up to his own warehouse?
A. F.O.R
B. C.I.F
C. F.A.S
D. Loco
24
The relationship between all imports and exports of a country is known as
A. terms of trade
B. balance of trade
C. balance of payment
D. terms of payment
25
Which of the following is an example of large-scale retailing?
A. Hawking
B. Mobile shops
C. Kiosks
D. Department stores
26
A cheque drawn by a bank on itself is a/an
A. direct debit
B. bank draft
C. bank transfer
D. overdraft
27
A voluntary body formed by people in the same line of business for the purpose of protecting their interest is a
A. trade association
B. trade union
C. chamber of commerce
D. trading partnership
28
Those who are engaged in the distribution of goods belong to
A. commercial occupation
B. extractive industry
C. manufacturing industry
D. construction industry
29
When an insurance policy is declared void because of a false declaration ; the principle involved is
A. indemnity
B. subrogation
C. proximate cause
D. utmost good faith
30
Buildings and machinery used in the running of a business are examples of
A. current assets
B. intangible assets
C. liquid assets
D. fixed assets
31
Which of the following is classified as invisible item in balance of payment?
A. import of goods
B. Salaries of expartriates
C. Export of groundnuts
D. Sale of equipment
32
Collecting information on the taste of consumers and the extent of demand for a product is
A. market research
B. market segmentation
C. marketing mix
D. marketing concept
33
Which of the following is not an insurance of indemnity
A. Life
B. Marine
C. Burglary
D. Fire
34
The entitlement of a debenture holder from a company's income is known as
A. commission
B. interest
C. lien
D. dividend
35
The collection of tariffs on imported goods is the function of
A. Ports Authority
B. Customs and Excise Authority
C. Clearing and Forwarding Agents
D. Export Promotion Council
36
A licensed person who is authorized to sell to the highest bidder is
A. principal
B. factor
C. broker
D. auctioneer
37
An efficient transport system enables a trader to
A. widen the market for his products
B. avoid customs examination of goods
C. adopt better price policy
D. reduce cost of production
38
The Central Bank's monetary policy instrument by which it buys and sells treasury bills is known as
A. Open Market Operation
B. Bank rate
C. Cash reserve ratio
D. Special deposit
39
Which of the following acted as the central bank for West African countries before their independence?
A. The West African Clearing House
B. The British Bank for West Africa
C. The West African Currency Board
D. The African Development Bank
40
Current account holders withdraw money by means of
A. credit card
B. draft
C. withdrawal form
D. cheque
41
Which of the following is a feature of mail order business?
A. Employs many shop assistants
B. Practices self service
C. Provides attractive shop front
D. Rents large warehouse
42
Bonded warehouse is a place where
A. duty free goods are kept
B. perishable goods are kept
C. home-made goods are kept
D. dutiable goods are kept
43
Which of the following is concerned with promoting favorable image of an organization?
A. Consumer soveriegnty
B. Public relations
C. Marketing research
D. Marketing segmentation
44
The document issued by the registrar of companies to permit a public limited company to commence business is
A. Memorandum of Association
B. Certificate of Incorporation
C. Article of Association
D. Trading certificate
45
Which of the following is not an economic grouping
A. Lake Chad Basin Commission
B. Economic Community of Wets African States
C. European Union
D. International Monetary Fund
46
One of the principles of insurance is
A. consequential loss
B. fidelity guarantee
C. proximate cause
D. surrender value
47
A written instruction by a current account holder to his bank to debit his account at regular intervals with a specified amount for a given period is known as
A. standing order
B. money order
C. bank draft
D. overdraft
48
A collective bundle of shares is called?
A. debenture
B. stock
C. bond
D. share
49
The assets of a business that is available for cash or near cash is called
A. equity
B. capital employed
C. received capital
D. liquid capital
50
The bank on which a cheque is drawn is known as the
A. drawer
B. drawee
C. cashier
D. payee