- 1. The role of an insurance in commerce is essential to ......
A) Invest the premium
B) Prevent wasteful venture
C) Insecure life and property
- 2. .....is a situation in which important information must be kept secret
A) Documents
B) Security
C) Confidentiality
- 3. Marine insurance involves......
A) Insurance to cover ship and water
B) Insurance to cover goods and ship
C) Insurance to cover goods and house
- 4. A place where money and other valuable things are kept is called....
A) Bank
B) Cornet
C) Warehouse
- 5. ....type of insurance deals with stealing?
A) Comprehensive
B) Burglary
C) Third party
- 6. Insurer in insurance business is the ......
A) Insurance company
B) Agent of the insured
C) Broker of the insured
- 7. .....is the identification of the need of the people in which an Entrepreneur can invest money for profit making
A) Business passion
B) Business Opportunity
C) Business mindedness
- 8. In a business organization, who is a risk bearer?
A) Trader
B) Entrepreneur
C) Coordinator
- 9. One of the personal qualities of an Entrepreneur is.......
A) Unreliable
B) Impatience
C) Creativity
- 10. The right to choose is a fundamental right of consumers, which ensures…..
A) Low prices of goods and services
B) Availability of a variety of goods and services
C) Quality of goods and services
- 11. Which of the following is not a consumer right?
A) Right to safety
B) Right to information
C) Right to hoard goods
- 12. Which of the following is not a responsibility of consumers?
A) Checking the quality of goods before purchasing
B) Being aware of their rights as consumers
C) Using pirated software and media
- 13. Which of the following is a consumer responsibility?
A) Reading product labels before purchasing
B) Disposing of electronic waste improperly
C) Ignoring product expiry dates
A) Sell goods and services
B) Manufacture goods and services
C) Buys goods and services
- 15. The following are examples of goods except ________
A) Chair
B) Television viewers
C) Cocoa
- 16. Transparency is the quality of being ______ and open in whatever you do.
A) fighting
B) quarrel
C) honesty
- 17. In shopping for our goods and services, we must be ________
A) prudent
B) purchase anyhow
C) spend lavishly
- 18. The individual taking out the insurance policy pays an agreed amount monthly or quarterly known as _______
A) premium
B) agreement
C) indemnity
- 19. Insurance help to minimize _______ of equipment and factory.
A) health
B) loss
C) wealth
- 20. The purpose of going into business is to make _________
A) Loss
B) Friends
C) Profit
- 21. Consumers have the following right except right to ________
A) to safety
B) die
C) be informed
- 22. The following are needs except ___________
A) Water
B) Food
C) Money
- 23. The readiness to give reason for any action is ________
A) transparency
B) trustworthiness
C) accountability
- 24. The following can be insured except
A) goods
B) life
C) gambling
- 25. The importance of insurance to a business man is…….
A) contact facility
B) risk relief
C) loan granting
- 26. ________ can be referred to the situation in which a person says only what is true.
A) truthfulness
B) facts
C) honesty
- 27. The following are examples of goods except ________
A) Cocoa
B) Chair
C) Television viewers
- 28. Which of the following does not give services?
A) The teacher
B) The labour
C) The house
- 29. Transparency is the quality of being ______ and open in whatever you do.
A) honesty
B) quarrel
C) fighting
- 30. In shopping for our goods and services, we must be ________
A) purchase anyhow
B) spend lavishly
C) prudent
- 31. Insurance help to minimize _______ of equipment and factory.
A) health
B) wealth
C) loss
- 32. The purpose of going into business is to make _________
A) Loss
B) Profit
C) Friends
- 33. The following are needs except ___________
A) Water
B) Food
C) Money
- 34. The readiness to give reason for any action is ________
A) trustworthiness
B) transparency
C) accountability
- 35. The following is a disadvantages of insurance.
A) capital for reinvestment
B) tax relief on insured amount
C) dodging compensation
- 36. …… is the monthly or periodic payment to retired workers?
A) Salary
B) Pension
C) Charges
- 37. Which of the following is found in an office?
A) File cabinets
B) Tables
C) All of the above
- 38. The money use to start a business is referred to as…..
A) Loan
B) Capital
C) Naira
- 39. I’m shopping tips which is the best to work with?
A) Want
B) Demand
C) Need
- 40. …..occurs because human wants are limited
A) Scale of preference
B) Choice
C) Consumption
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