WAEC Commerce 2011 Theory question 106

(a) Insurance underwriter – a person or company that accepts insurance risks in return for a premium, and signs the policy.
(b) Promoters – people who take the steps to form a new company (draft documents, register it, raise capital).
(c) Auctioneer – an agent who sells goods publicly to the highest bidder for a commission.
(d) Factor – an agent given possession of goods to sell in his own name, who may give credit and fix prices; earns a commission (factorage).
(e) Broker – an agent who brings buyers and sellers together without holding the goods, earning brokerage.

Define each person by what he does.