Jamb Commerce 1999 Past Questions and Answers

Question 21:

• JAMB 1999

Which of the following document permit an importer to inspect his goods before the arrival of the bill of lading?

A. Bill of sight
B. Import invoice
C. Consular invoice
D. Bill of exchange

Question 22:

• JAMB 1999

The overriding advantage of home trade over foreign trade is

A. Accessibility of seller to buyer
B. Absence of many documents
C. Ease in language of transaction
D. Ease in form of payment

Question 23:

• JAMB 1999

A distinction between Comprehensive insurance and Thrid party Insurance is that the latter covers damages

A. Caused by the insured vehicle
B. To the insured vehicle
C. Cause by the other vehicle
D. To the driver of insured vehicle

Question 24:

• JAMB 1999

The rate at which a central bank discount first class bills is called the

A. Fixed rate
B. Bill rate
C. Bank rate
D. Interest rate

Question 25:

• JAMB 1999

The principle of subrogation states that

A. An insured person should be indemnifed to the tune of the amount insured
B. An insurance company can stand in place of the insured in dealing with third party
C. Oly a person who is likely to sufferrd loss should take take out an insurance cover
D. Ther must be a close connection between the actual loss suffered and risk insured