Aids-to-trade - Jamb Commerce Past Questions and Answers

Question 221:

• JAMB 2019

First Bank of Nigeria is an example of

A. Commercial bank
B. Central bank
C. Development bank
D. Merchant bank

Question 222:

• JAMB 2019

An abridged message sent at express speed to reach its destination faster than the airmail letters is known as

A. Telephone
B. Telegram
C. Telex
D. NITEL

Question 223:

• JAMB 2019

Someone traveling abroad for at least "twenty - four hours" and a maximum stay of six months is known as

A. Transportation
B. Tourism
C. International trade
D. Domestic tourism

Question 224:

• JAMB 2021

The payment made periodically in respect of an insurance policy entered into is known as ____________

A. Surrender
B. Bond
C. Premium
D. Commission

Question 225:

• JAMB 2021

NAME	INSUREDAMOUNT(₦)	ACTUALVALUE(₦)	ACTUALLOSS(₦)
Mr. PMr. KMr. R	25,00030,00040,000	100,000120,000150,000	30,00040,00050,000

Use the table above to answer questions 27 and 28
If Mr. P takes a fire insurance policy with average clause, his compensation will be ____________

A. ₦7,500
B. ₦5,000
C. ₦70,000
D. ₦75,000