Jamb Commerce 2001 Past Questions and Answers

Question 26:

• JAMB 2001

Pooling of risk in insurance means that?

A. Compensations are paid out of a common fund
B. Two people can pool their risks to be insured
C. Two insurance companies can buy two policies
D. Insurance companies should encourage taking risks.

Question 27:

• JAMB 2001

The major difference between insurance and assurance is that while insurance

A. Takes care of uncertainty, assurance takes care of risks
B. Takes care of risks , assurance takes care of uncertainty
C. Hinges on probabilities, assurance is based on possibilities
D. Is about indemnity, assurance is about life in the future

Question 28:

• JAMB 2001

A documentary bill will normally be accompanied by

A. . sales invoice, bill of lading and insurance certificate
B. Clean bill, bill of lading, and insurance certificate
C. Bill of lading, consular invoice, and insurance certificate
D. Consular invoice, FOB certificate and bill of lading

Question 29:

• JAMB 2001

Which of the following best describes the classification of computer?

A. Mini-computer, speed and size
B. Micro-computer, cost and abilities
C. Mini-computer, Micro-computer and work station
D. Mini-computer , hybrid and digital

Question 30:

• JAMB 2001

The temporary working area of the central processing unit is called the?

A. C-D ROM
B. C-D RAM
C. ROM
D. RAM