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WorksheetsBusiness studies First Term 2023/2024 Half Term Test
Total questions: 20
Worksheet time: 9mins
What is undertaken to protect against loss of life or property?
Business studies
Insurance
Education
Store-keeping
What is the insurance policy taken to cover goods shipping across the sea called?
Fire
Marine
Burglary
Accident
Who is the insurer?
The insurance company
The person or company who insures his goods
The government
The intermediary
What is one of the reasons or functions of insurance?
To bear loss
To reduce risks
To cause loss
To ensure loss
What is the person or company that insures his property or life called?
insured
insurer
insurance company
premium
Which of the following is not among banking services?
Loans
Traveller's Cheque
Banker's draft
insure properties
Which of the following is not an ethical issue in the banking sector?
Confidentiality
Integrity
Non-transparency
transparency
What is the purpose of insurance?
To make profit
To make good the loss suffered
To collect premium
To avoid loss
Which of the following insurance policies is not for motor vehicle?
Third party
Marine
Comprehensive
Theft
Which of the following risks is not insurable?
Storm
Earthquake
Gambling
Thefts
What is the sum of money paid by the insured to the insurance company called?
Discount
Commission
Premium
Dividend
Which of the following is not a column in the ledger?
Date
Folio
Cash
particular
Which is a column for entering page numbers?
Particulars
Folio
Discount
amount
Where is the debit side of the ledger located?
Left-hand side
Right-hand side
Centre side
Right- left hand side
What is the column used for recording the actual monetary value called?
Folio
Discount
Amount
particular
What is the person or company that insures his property or life called?
loan
hire purchase
travelers cheque
overdraft
Which service from the below mentioned provides protection from risk?
Banking
Transportation
Insurance
Postal & telegram
Which of the following is the correct full form of ATM?
Automatic Take Machine
Any Time Machine
Automated Teller Machine
None of these
What is the computerized tool for making online transactions called?
ATM
ICT
I-Phone
MTN
In 2004 the Central Bank of Nigeria required all commercial banks to increase the value of their capital to?
#25 billion
#25 trillion
#25 million
#25 thousand
