Jamb Commerce 1995 Past Questions and Answers

Question 6:

• JAMB 1995

The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called

A. Subrogation
B. Contribution
C. Re-insurance
D. Indemnity

Question 7:

• JAMB 1995

The insurance policy which provides full cover against all risks at sea is known as

A. Policy with Particular Average
B. Policy Free of Particular Average
C. Marine Freight Insurance
D. Marine Voyage Policy Insurance

Question 8:

• JAMB 1995

Berne union is also known as

A. International Credit Union
B. International Documentry Credit
C. International Union of Credit and Investment Insurers
D. Export Credit Guarantee Scheme

Question 9:

• JAMB 1995

which of the following sets of items was used for exchange in Nigeria before money was introduced?

A. Cowries, iron rods, brass rods and copper rods
B. Iron rods, copper rods, manilla and cowries
C. Cowries, manilla, brass rod andcopper wires
D. Copper wires, brass wires, cowries and iron rod

Question 10:

• JAMB 1995

A major liability of a commercial bank arises from

A. Customers' deposits
B. Loans and advances
C. Overdrafts
D. Staff allowance