CXC POB Chapter 8, 9 , 10

Question 1

Fidelity guarantee insurance is:

Accepted Answer

Insurance in the event of fraud or theft by employees

Question 2

The mental and physical contribution of people to the production process is referred to as:

Accepted Answer

Labour

Question 3

Which of the following statements BEST describes a contract?

Accepted Answer

A legally binding agreement between parties

Question 4

A measure of the output of a person, firm or economy relative to its inputs are:

Accepted Answer

Productivity

Question 5

Business ________ is reduced by growth

Accepted Answer

Risk

Question 6

Which statement outlines a KEY benefit of linkage industries to the Caribbean region?

Accepted Answer

Assist in developing regional self-sufficiency

Question 7

The purpose of insurance is to provide monetary ____ to someone who has suffered a loss.

Accepted Answer

Compensation

Question 8

People ____ many things that are not necessary for survival

Accepted Answer

Want

Question 9

Failing to comply with the terms of a contract could result in being sued for:

Accepted Answer

Breach of contract

Question 10

A document that outlines the transactions of a business (money paid and outstanding balances)

Accepted Answer

A statement of account

Question 11

_______ capital refers to money needed to finance a new business.

Accepted Answer

Venture

Question 12

A ________ is an internal request for supplies.

Accepted Answer

Requisition

Question 13

A display of electronic items, with an asking price attached, is:

Accepted Answer

An invitation to treat

Question 14

A bonus is an example of a _________ deal.

Accepted Answer

Productivity

Question 15

Profit is the reward for

Accepted Answer

Enterprise

Question 16

It is not possible to insure against a risk unless you have:

Accepted Answer

An insurable interest

Question 17

Insurance that covers against the loss of life is sometimes referred to as:

Accepted Answer

Life assurance

Question 18

Contracts which are called "deeds" are ___________ contracts.

Accepted Answer

Specialty

Question 19

A volume of output that is produced locally and surplus is used within communities is called:

Accepted Answer

Domestic

Question 20

Those who take our insurance contribute money to a :

Accepted Answer

Pool

Questions 20