2022 NECO GCE COMMERCE Questions & Answers: 2021 NECO GCE COMMERCE ANSWERS Night before Exam

OBJ & NOTICE SECTION

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Commerce OBJ

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GENERAL & ESSAY SECTION

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2022 NECO GCE COMMERCE Questions & Answers (ESSAY, OBJ, THEORY, PRACTICALS ETC)

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(1a)
Insurance is a contract in which the individual or an entity gets the financial protection, in other words, reimbursement from the insurance company for the damage (big or small) caused to their property.

(1b)
(i)Insurable Interset: Importance For Insurance right If you want to ask the insurance, you must have a relationship or interest for insurance between you and its designees. Generally its designees will feel a loss if the dipper event occurs.

(ii)the Utmost Good Faith: in good faith
Any agreement should be grounded with the good will between the two sides,including in the insurance agreement. Insurance companies will accept the transfer of the risk with the principles of goodwill, for example, we give the data are true and honest, and does not cover the facts of health at the time of filling the form letter filing life insurance.

(iii)the Law Of Large Numbers: the law of large numbers The law of large numbers (law of large number) is the principle of statistics and probability theory that States the greater number of samples are used froman event, then the results of the radar might begetting closer to the average population.

(iv)Indemnity: principles Idemnity The insurance company will indemnify according to the amount of the losses we have experienced. For example, the insurance company will pay or reimburse the cost of hospital in accordance with hospital bills.This principle is basically serves to avoid participants who have the intention to benefit from the onset of afinancial loss on the health insurance program.

2022 NECO GCE COMMERCE Questions & Answers (ESSAY, OBJ, THEORY, PRACTICALS ETC)

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2022 NECO GCE COMMERCE Questions & Answers (ESSAY, OBJ, THEORY, PRACTICALS ETC)

(2)

2022 NECO GCE COMMERCE Questions & Answers (ESSAY, OBJ, THEORY, PRACTICALS ETC)

(4a)
A chamber of commerce is an association or network of businesspeople designed to promote and protect the interests of its members.

(4b)
(i)To ensure that members provide good quality services.
(ii)To ensure that members charge uniform prices.
(iii)To maintain professional ethics
their line of trade.
(iv)To supply members with
information about developments in
their line of trade.
(v)To create uniformity in the way
their members deal with people.
(vi)To promote trade in a particular line
of business.
(vii.) To act as pressure groups to
influence some government
policies.
(viii)To defend and advance the interest
of members.

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2021 EXAM DATES

NECO: 5th July - 16th August

WAEC: 16th August - 30th Sept

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QUESTIONS AND ANSWERS FOR 2022 NECO GCE COMMERCE ANSWERS

EXAM DETAILS:

PIN: 3738
Subject: Commerce
Exam:
Year: 2021
Updated At: August 9th 2021, (06:08:03)