The insurance services rendered to a foreign shipping company are treated as?

Assessment: WAEC SSCE - Commerce - 2015 (Objective) Subject: Commerce

Question 1 Report

The insurance services rendered to a foreign shipping company are treated as?

Answer Details
The insurance services rendered to a foreign shipping company are treated as "invisible export." An invisible export is a service provided by one country to another, where the payment for the service does not result in the physical movement of goods across the border. In this case, the insurance service provided to a foreign shipping company does not involve the physical movement of goods across borders, but it generates income for the country providing the service, hence treated as an invisible export.
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Read lesson note on Commerce (JAMB)
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