Jamb Commerce 2021 Past Questions and Answers

Question 16:

• JAMB 2021

An agency contract must involve

A. A principal and a consumer
B. A principal and an agent
C. A principal and a producer
D. A principal and a third party

Question 17:

• JAMB 2021

Inbound tourism occurs when ____________

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

Question 18:

• JAMB 2021

When two or more companies agree to execute a project too large for one to handle, this is referred to as ____________

A. An amalgamation
B. A cartel
C. A consortium
D. A merger

Question 19:

• JAMB 2021

The main objective of a trade association is to ____________

A. Protect its members against litigation
B. Protect its members against victimization
C. Boost the trade of its members
D. Secure credit for its members

Question 20:

• JAMB 2021

The major determinant of fire insurance premium is the ____________

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