Question 4251:

• JAMB 2022

One of the functions of commerical banks that cannot be performed by central banks is

A. Collection of old notes
B. Collection of deposits from the public
C. Issuance of treasury bills
D. Printing of bank notes

Question 4252:

• JAMB 2022

A document that instructs an agent to buy goods from a named firm is

A. Proforma invoice
B. Open indent
C. Consular invoice
D. Closed indent

Question 4253:

• JAMB 2022

The incentive given to a buyer to encourage prompt payment is

A. Cash discount
B. Seasonal discount
C. Quantity discount
D. Trade discount

Question 4254:

• JAMB 2022

The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is

A. Indemnity
B. Contribution
C. Proximate cause
D. Uberrimae fidei

Question 4255:

• JAMB 2022

Dealers in stock exchange such as bulls, bears and stags are categorized as

A. Actuaries
B. Promoters
C. Speculators
D. Underwriter