A market for hiring ships and aircraft is called:

Here are the answers to the questions:

36. A market for hiring ships and aircraft is called: * A. Baltic exchange

37. A typical example of a one stop shop is: * D. Hyper market

38. A bill of lading with a remark of damage good attached to it is called: * A. Foul bill

39. The insurance principle that requires faith and trust from both the insurer and the insured * D. Uberrimae fides

40. The rule of surrender value does not apply to which of the following principle * D. Motor insurance

41. The act of insurers sharing premium and responsibility to jointly indemnify an insured is * C. Re-insurance

42. The purpose of re-insurance is * C. Permit small insurer accept large risk

43. Regular payments on regular interval can be authorised using * B. Standing orders

44. In a hire purchase contract, the hirer has the right to refund the assets only after * A. 1/3 payment

45. A common fee paid by franchisees to franchisors is called: * C. Royalty fee

46. _________ is an example of trade credit. * C. Hire purchase

47. One method banks act as agent of payment is... * A. Cheques

48. A commercial document usually issued when the seller is dealing with the buyer for the first time is: * B. Proforma invoice

49. A financial document usually printed in red is: * B. Credit note

50. Determine the terms of trade for country X given the following figures - Export prices = 110MFCFA - Import prices = 95MFCFA

The term of trade is