Foreign trade - Jamb Commerce Past Questions and Answers

Question 21:

• JAMB 1995

Berne union is also known as

A. International Credit Union
B. International Documentry Credit
C. International Union of Credit and Investment Insurers
D. Export Credit Guarantee Scheme

Question 22:

• JAMB 1995

The secretariat of the Niger Basin Commission is located at

A. Ouagadougou, Burkina Faso
B. Abuja, Nigeria
C. Niamey, Niger
D. Bamako, Mali

Question 23:

• JAMB 1995

Factoring is a trade debt term used when the agent buys all the trade debts of the

A. Importers
B. Exporters
C. Nation
D. Customers

Question 24:

• JAMB 1995

Goods imported into a country for the purpose of re-exporting attracts a rebate known as

A. Customs draw back
B. Export royalty
C. Incentive
D. Export rebate

Question 25:

• JAMB 1995

Most foreign trade transaction are paid for through the use of

A. Central bank cheques
B. Bank drafts drawn by commercial banks on their foreign branches
C. Irrevocable and confirmed letters of credit
D. Letters of credit authenticated by the embassies of the respective countries