1. Insurance is

• (a) contract

• (b) agreement

• (c) comfort

• (d) disagreement

2. One of these is not an insurance policy

• (a) marine insurance

• (b) fire insurance

• (c) theft insurance

• (d) trade insurance.

3. Cargo insurance is a division of_______ insurance.

• (a)marine

• (b) life

• (c) burglary

• (d) assurance

4.The following risks are insurance except

• (a) robbery

• (b)fire disaster

• (c)sudden death

• (d)loss of profit due to intense competition.

5.One of the following is the reason for taking an insurance cover

• (a)To pay children

• (b)To receive compensation for a loss suffered

• (c)To avoid loss of life and property.

• (d)To increase Production of goods and services

6.The factor of production which coordinates other factors is ___

• (a)land

• (b) labour

• (c) capital

• (d) entrepreneur.

7.The reward for an entrepreneur is ___

• (a)rent

• (b)salary

• (c)profit.

8. One of these is not a risk faced by an entrepreneur

• (a)fire

• (b)bad weather

• (c)low demand for goods

• (d) stealing.

9.One of the following is not a quality of an entrepreneur

• (a) organisation

• (b) Receiving instruction

• (c) Decision Making

• (d)Risk Bearing .

10.___provides capital for business operation.

• (a)An accountant

• (b) A receptionist

• (c)An entrepreneur

• (d) A cleaner.