Basic issues in foreign trade - balance of payments - Jamb Commerce Past Questions and Answers

Question 6:

• JAMB 1999

The main document sent to an importer of goods by the exporter are?

A. Invoice, consular invoice, certificate of orign, fright note, indent and insurance policy
B. Indent, bill of lading, certificate of orign, invoice and bill of exchange
C. Certificate of orign, bill of exchange, insurance policy, indent and bill of lading
D. Bill of lading, invoice insurance policy, consular invoice, certificate of orign and bill of exchange

Question 7:

• JAMB 2001

The balance of payments of countries is

A. A record of imports and export
B. A systematic record of transaction among countries at a given time
C. The current and the capital accounts and their payments
D. The trade relationships and payment among nations

Question 8:

• JAMB 2008

Balance of payments is made up of?

A. Visible and current items
B. Invisible and capital items
C. Current and capital items
D. Visible and invisible items

Question 9:

• JAMB 2011

Balance of payment problems arise if a country's?

A. Exports is more than imports
B. Imports is more than exports
C. Currency devaluation
D. Invisible exports is more than visible exports

Question 10:

• JAMB 2011

The three components of a country's balance of payments are?

A. Current account, capital account and monetary movement account
B. Capital account, trade account and business record
C. Sales account, profit and loss account and capital account
D. Monetary movement account, trade account and sales ledger