Jamb Commerce 2015 Past Questions and Answers

Question 6:

• JAMB 2015

A cheque drawn by a bank official on the bank’s deposit in another bank on a customer’s deposit in another bank

A. Bank draft
B. Bankers’ order
C. Promissory note
D. Travelers cheque

Question 7:

• JAMB 2015

The development of commerce in west Africa was not hampered by

A. Inadequate capital
B. Inadequate means of transportation
C. Insurance
D. Low savings

Question 8:

• JAMB 2015

Which of the following is classified as an immaterial want?

A. Protection
B. Raw materials
C. Machines
D. Goods and Services

Question 9:

• JAMB 2015

In product pricing, which of these elements need more consideration than others?

A. The cost of producing the product
B. The economic conditions in the market
C. The demography of the buyers of the product
D. The demand for the product

Question 10:

• JAMB 2015

The major determinant of fire insurance premium is the

A. Owner of the property
B. Usefulness of the property to the owner
C. Type and structure of the property to be insured
D. Extent of fire damaged anticipated.