Jamb Commerce 2009 Past Questions and Answers

Question 21:

• JAMB 2009

The principle of insurance which entitles an insurance company to take any advantage due to the insured after full indemnity is?

A. Contribution
B. Subrogation
C. Promiate cause
D. Utmost good faith

Question 22:

• JAMB 2009

A risk that can be estimated and calculated to be compensation is?

A. A delivery risk
B. An insurable risk
C. A credit risk
D. A systematic risk

Question 23:

• JAMB 2009

The most important reason for the existence of insurance business is to?

A. Prevent the occurrence of any loss
B. Spread losses to all covered participants
C. Provide for the replacement of facilities
D. Encourage individuals to save

Question 24:

• JAMB 2009

One major advantage of transportation to a business is to?

A. Extend the firm's market coverage
B. Ensure that goods are produced faster
C. Procure raw materials cheaply
D. Ensure the quality of products

Question 25:

• JAMB 2009

Warehousing is important to manufacturers because it helps to?

A. Improve the quality of goods
B. Produce goods in advance
C. Meet the demand of customers
D. Determine input rquirements