Jamb Commerce 2000 Past Questions and Answers

Question 16:

• JAMB 2000

The function of a merchant wholesaler is to

A. Buy in bulk, store and sell to retailerss as desired
B. Posses title to the goods, store and sale to retailers
C. Bring buyers and sellers together
D. Find markets for producers' finished goods

Question 17:

• JAMB 2000

An invoice can be described as a

A. Contractual agreement for the sale of goods
B. Document specifying quantity, description, prices and total value of purchase
C. Receipt containing necessary information about the goods
D. Letter specifying the contractual sales of goods between two parties

Question 18:

• JAMB 2000

Ocean liners are subdivided into

A. Passenger liner and cargo liners
B. Coastel liners and cargo liners
C. Cargo liners and tramp liners
D. Passenger liners and tramp liners

Question 19:

• JAMB 2000

Tourists with no fixed address in a town may receive their letters from the post office through a

A. Recorded delivery
B. Poste restante
C. Parcel post
D. Postmaster

Question 20:

• JAMB 2000

The insurance principle that requires full disclosure of information on the insured is known as

A. Indemnity
B. Uberrimae fidei
C. Subrogation
D. Caveat emptor