OBAFEMI AWOLOWO UNIVERSITY 2013 POST-UTME SCREENING EXERCISE

1. Which of the following can quote its shares on the stock exchange? a) Partnership (b) Co-operative society
(c)Sole proprietorship (d) Public limited Company Right choice – Option D

2. When an order Cheque is endorsed it becomes a (a) Credit transfer (b) Bank endorsement (c) Standing order
(d) Bank overdraft Right choice – Option C

3. When an Order Cheque is endorsed it becomes a (a) Confirmed cheque (b) Bearer cheque(c) Cleared cheque (d)Dishonoured cheque Right choice – Option B

4. When an organization studies a market that is underserved by other and creates a product or services for the segment it is engaged in (a) Market positioning (b) Market integration (c) Market orchestration (d) Product differentiation Right choice – Option A

5. The instrument of credit include (a) Billboards and Postal stamps (b) payment vouchers and statement of account (c) bills of exchange and promissory notes (d) bills of exchange and salary vouchers Right choice – Option C

6. The most important advantage of privatization is the enhancement of (a)accountability (b) profitability
(c) efficiency (d) liquidity Right choice – Option C

7. The main requirement for admission to the second-tier securities market is the (a) provision of a three year trading record (b) creating of a good atmosphere for growth and development (c) guaranteeing of dividends to shareholders (d) disclosure of all trading activities Right choice – Option B

8. One major advantage of a Credit and thrift Cooperative is that (a)there are no legal restrictions (b) each members has a vote during meetings (c) it encourages saving habit (d) it can approach government for a loan Right choice – Option C

9. The business environment that takes into account the age distribution, ethic mix and educational level of the consumer is (a) natural environment (b)cultural environment(c)economic environment (d)demographic environment Right choice – Option D

10. Citizens are against privatization mainly because of (a)the likelihood of monopoly (b) ineffective management
(c) increased prices of goods and services (d) the rational of organizations Right choice – Option D

11. the major determinant of fire insurance premium is the (a) owner of the property to be insured (b) extent of fire damage anticipated (c) usefulness of the property to the owner (d) type and structure of the property to be insured Right choice – Option D

12. Which of the following business must have at least one one member with unlimited liability? (a) limited liability company (b) limited partnership (c) Public enterprise (d)Normal Partnership Right choice – Option B

13. If a country wishes to discourage imports, it (a)subsidizes export (b)Removes quotes (c) imposes tariffs (d)encourages free trade Right choice – Option C

14. The refund of a duty which had been paid on imported goods that are later re-exported is known as (a) customs drawback (b) mate’s receipt (c) surtax (d) export tax Right choice – Option C

15. In international trade, the direct exchange of goods for goods is (a) counter trade(b)multilateral trade (c)bilateral trade (d) Entrepot trade. Right choice – Option C

16. In international trade, the direct exchange of goods for(a) Public enterprise (b) P{Partnership (c) co-operative (d) Public limited liability. Right choice – Option C

17. A-business becomes a separate legal entity after it has (a) started operation (b) been incorporated (c) been insured (d) been accepted by the public Right choice – Option B

18. Which of the following makes sales possible without a sales attendant? (a)franking machine Which of the following makes sales possible without a sales attendant? (a)franking machine(b) telex machine (c)fax machine (d)vending machine Right choice – Option D

19. Which of the following service is rendered by the Central Bank? (a) Provision of brokerage service (b)safekeeping of cash and other valuable (c) discounting bills of exchange (d) issuing currency notes Right choice – Option D

20. Which of the following is the main purpose of a third party insurance? (a) indemnify an injured outsider
(b) indemnify the insured (c) protect the vehicle against theft (d) compensate the driver for injuries sustainedRight choice – Option A

21. Which of the following makes it an offence for a dealer to give misleading information about goods to consumers?(a) Restrictive trade practices (b)Trade Description Act (c) Consumer Protection Act (d) Consumer Purchases Act Right choice – Option C

22. If a company is described as “listed”, it means (a) its shares can be traded on the stock exchange (b) it is about to be voluntarily liquidated (c) It is duly registered by the registrar of companies (d) it has been blacklisted Right choice – Option C

23. Which of the following implies that the price quoted includes the cost of insurance and carriage?
(a) F.O.B (b) FASC. (c)O.D (d) C.L.F Right choice – Option D

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