Which of the following is not a characteristic of a commercial bank?
A. established as a limited liability company B. Established by individuals or organizations C. Established to issue bank notes D. Established with the view of making profit Correct Answer: Option C – Established to issue bank...
Dealers in the stock exchange such as bulls; bears and stags are categorized as?
A. actuaries B. promoters C. speculators D. underwriters Correct Answer: Option C – speculators
The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is?
A. indemnity B. contribution C. proximate cause D. uberrimae fidei Correct Answer: Option B – contribution
The incentive given to a buyer to encourage prompt payment is?
A. cash discount B. seasonal discount C. quantity discount D. trade discount Correct Answer: Option A – cash discount
A document that instructs an agent to buy goods from a named firm is?
A. proforma invoice B. open indent C. consular invoice D. closed indent Correct Answer: Option D – closed indentProducts
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