Jamb Commerce 2011 Past Questions and Answers

Question 21:

• JAMB 2011

Mr. Lawal insured his warehouse against burglary but it was later gutted by fire. this implies that?

A. The loss should be borne by the insurer
B. Mr. Lawal is liable only for half of the estimated loss
C. The insurer should make a consolation payment for the loss
D. The loss should be borne by Mr. Lawal

Question 22:

• JAMB 2011

The agreement of insurers to spread risks among themselves is a major feature of?

A. Reinsurance
B. Life insurance
C. Underwriter
D. Marine insurance

Question 23:

• JAMB 2011

Inbound tourism occurs when?

A. Non-residents of a country travel to other countries
B. Resident of a country travel to another country
C. Non-resident of a country travel within it
D. Resident of a country travel within it

Question 24:

• JAMB 2011

One of the major disadvantages of pipeline transportation is its?

A. High cost of construction
B. Limitation in scope
C. Vulnerability to climate changes
D. High maintainance cost

Question 25:

• JAMB 2011

The business organization that can effectively combine management with control is?

A. Private limited liability company
B. Sole proprietorship
C. Public limited liability company
D. Co-operation society