Jamb Commerce 2022 Past Questions and Answers

Question 46:

• JAMB 2022

The incentive given to a buyer to encourage prompt payment is

A. Cash discount
B. Seasonal discount
C. Quantity discount
D. Trade discount

Question 47:

• JAMB 2022

The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is

A. Indemnity
B. Contribution
C. Proximate cause
D. Uberrimae fidei

Question 48:

• JAMB 2022

Dealers in stock exchange such as bulls, bears and stags are categorized as

A. Actuaries
B. Promoters
C. Speculators
D. Underwriter

Question 49:

• JAMB 2022

Which of the following is not a characteristic of a commercial bank?

A. Established as limited liability company
B. Established by individuals or organizations
C. Established to issue bank notes
D. Established with the view of making profit

Question 50:

• JAMB 2022

Central banks sell treasury bills to the public to

A. Increase cash in the banking system
B. Raise revenue for commerical banks
C. Raise revenue for private investors
D. Reduce cash in circulation