I rewrote this answer to clarify some things.
First, the default text should be added as a combo element. Using the combo.Text property simply adds descriptive text to the combobox, which is "lost" the first time the user does something with the control. If you like forever having the default text in your combo, you should add it as a combobox element.
In the code you provided, just change
cmbOperations.Text = "-SELECT OPERATIONS-";
to
cmbOperations.Items.Insert(0, "-SELECT OPERATIONS-");
Note that this way you add the "-SELECT OPERANDS-" element to the position of the 0th (read first) in the list. Also make sure that all of your next items are increased by 1, because now they are moved with one space in the list.
Finally put the line
cboOperations.SelectedIndex = 0;
at the end of the code. By doing so, you are reporting that combobox displays your default item when loading a form (or control).
One more thing. I'm not quite sure what you want to achieve with code that does not install combo elements, but if you like to check which user has selected, use the cboOperations.SelectedIndex property, which contains the currently selected element in combo. You can add simple
if(cboOperations.SelectedIndex == someIntValue){...}
The rest is your program logic;)
Vexy
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