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1.
'Caveat emptor' as a commercial legal word means
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A.
let the seller beware
B.
let the producer beware
C.
let the buyer be awarded
D.
let the buyer beware

2.
The main feature of a supermarket is the sales of
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A.
office equipment only
B.
food stuff only
C.
general house hold goods
D.
building materials

3.
The ship that is used as a sea taxi is called
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A.
linen
B.
tramps
C.
tankers
D.
coasters

4.
Which of the following is NOT a reward for labour
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A.
profit
B.
salaries
C.
Wages
D.
allowances

5.
The person who calculates premium, sums assured and surrenders value in insurance contact is called
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A.
accountant
B.
actuary
C.
value
D.
auditor

6.
Under the law of insurance, exemption clauses
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A.
protect the insured against the insurance company
B.
protect the insurance company
C.
protect the third party under the contract
D.
enable the insured to claim on the insurance company

7.
In the contract of sale of goods, 'let the buyer beware' is signified by
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A.
del credere
B.
caveat vendetta
C.
caveat emptor
D.
res ipsa loquitor

8.
The main purpose for establishing a public corporation is to
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A.
provide employment
B.
provide essential
C.
make profit
D.
establish a monopoly

9.
Into which of the following two broad areas can trade be divided
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A.
Home and foreign trade
B.
Whole and retail trade
C.
Imports and exports
D.
Visible and invisible trade

10.
Which of the following is not rue of sole proprietorship?
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A.
It has a separate legal entity
B.
It has unlimited liability
C.
It has slim chances of expansion
D.
It can convert into company

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