Question 151:

• JAMB 1994

A sole proprietor insured his goods worth N200,000 for half the value. There was a fire accident in which goods valued N80,000 were destroyed. The value of compensation expected from the insurer is

A. N40,000
B. N80,000
C. N100,000
D. N200,000

Question 152:

• JAMB 1994

One of the effects of the devaluation of the Naira is that the

A. Goods that can be imported with the naira have become cheaper
B. Value of other currencies relative to the naira have become cheaper
C. Goods that can be exported from Nigeria have become costlier
D. Imports that can be bought with the naira have become costlier

Question 153:

• JAMB 1994

Drawing two parallel lines across a cheque means that it has to be paid into the account of the

A. Payee
B. Drawer
C. Drawee
D. Payer

Question 154:

• JAMB 1994

The financial institution established to boost Nigeria's trade with the rest of the world is called

A. Nigerian Deposit Insurance Corporation
B. Nigerian Economic Reconstruction Fund
C. Nigerian Industrial Development Bank
D. Nigerian Export-Import Bank

Question 155:

• JAMB 1994

Which of the following is both direct and indirect credit enterprise?

A. A co-operative and thrift society
B. Retail co-operative society
C. Consumer co-operative society
D. Wholesaler co-operative society