All practice questions

Match each of the following specific economic activities carried out in Nigeria with its correct occupational sub-classification.

Informative advertising is primarily designed to create brand loyalty and convince consumers to switch from a rival product to a manufacturer's brand.

During a natural radioactive decay series, a parent nucleus of Actinium-227 ($^{227}_{89}\text{Ac}$) emits $5$ $\alpha$-particles and $3$ $\beta^-$-particles to reach a stable state. What is the atomic number ($Z$) of the resulting stable daughter nucleus?

A merchant insured his commercial warehouse against fire outbreak. During an electrical storm, lightning directly struck an adjacent tree which fell on the warehouse roof, severing live electrical wires and triggering a fire that consumed the stored goods. In determining whether the insurer is legally liable to compensate the merchant, which principle of insurance is primarily applied to determine the direct and dominant cause of the loss?

Sovereign Industries Ltd insured its manufacturing complex against fire risk under a policy jointly underwritten by Firm P (60% share) and Firm Q (40% share). To guard against catastrophic loss, Firm P reinsured 50% of its assumed risk with Firm R. Following a fire that caused $\text{N}500\text{ million}$ in damages, Sovereign Industries submitted a claim directly to Firm R for $\text{N}150\text{ million}$. Which statement accurately describes the legal rights of the insured and the financial liability of Firm P?

To shorten the clearing cycle of interbank paper cheques from several business days to a single day, modern commercial banks capture and transmit digitized electronic images of cheques to clearing houses instead of physically moving the paper documents between bank branches. Which electronic banking process describes this system?

A state-owned water corporation fails to maintain safety standards, resulting in polluted water supply to a municipality. Affected residents file a lawsuit in the High Court seeking damages and an order compelling compliance with statutory duties. Which form of control over public enterprises is being demonstrated in this scenario?

A pharmaceutical company in Nigeria has produced a batch of cough syrups contaminated with toxic chemicals. Which regulatory body is legally empowered to seize these unsafe drugs and prosecute the manufacturer?

Revenue earned by a country from foreign tourists visiting its local attraction sites and using hospitality services is classified as an invisible export in trade accounts.

An insurance firm accepts a policy for a factory but transfers a fraction of the risk to another insurer to shield itself from excessive loss. Which insurance concept describes this arrangement between the two insurance firms?

Commercial transactions often utilize different credit sales arrangements depending on when legal ownership transfers and the legal remedies available to the seller upon buyer default. Match each credit scheme on the left with its corresponding legal feature regarding ownership transfer and seller remedies on the right.

A Bankers' Acceptance is an unsecured short-term debt obligation issued directly by high-credit corporations to meet immediate working capital needs, whereas Commercial Paper represents a negotiable bill of exchange drawn on and unconditionally guaranteed for payment by a commercial bank.

In modern office automation systems, an extranet is designed exclusively for private internal communication among employees within an enterprise, while an intranet opens network access to external vendors and business partners.

Match each domestic payment instrument or banking mechanism with its corresponding operational characteristic and legal framework in home trade.

Match each short prose excerpt on the left with the primary stylistic or literary device it demonstrates on the right.

A trading firm needs to send urgent confidential contracts across long distances and receive immediate printed copies with verification at both ends using dedicated teleprinter terminals. Which telecommunication service is best suited for this transaction?

A fashion designer who sews custom-made traditional garments directly for individual private clients on a personal basis is engaged in which category of occupation?

A statutory public corporation can raise equity capital by issuing shares to the general public on the stock exchange.

A pan-African management consulting firm transitions from traditional physical administrative hubs to a fully virtual business operation. Employees communicate via teleconferencing, archive digitized records on cloud servers, and execute daily routine tasks through integrated workflow automation tools. Which of the following represents the primary operational constraint associated with relying exclusively on this virtual office automation system?

A thermistor has an electrical resistance of $800\,\Omega$ at the melting point of ice ($0^\circ\text{C}$) and $200\,\Omega$ at the boiling point of water ($100^\circ\text{C}$). Assuming the thermometric property varies linearly with temperature, what is the temperature in degrees Celsius ($^\circ\text{C}$) when the resistance of the thermistor is $500\,\Omega$?