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

Question 26:

• JAMB 1995

The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called

A. Subrogation
B. Contribution
C. Re-insurance
D. Indemnity

Question 27:

• JAMB 1995

The insurance policy which provides full cover against all risks at sea is known as

A. Policy with Particular Average
B. Policy Free of Particular Average
C. Marine Freight Insurance
D. Marine Voyage Policy Insurance

Question 28:

• JAMB 1995

A major liability of a commercial bank arises from

A. Customers' deposits
B. Loans and advances
C. Overdrafts
D. Staff allowance

Question 29:

• JAMB 1995

A bank statement is a document

A. Ordering a bank to pay on demand a stated sum of money
B. Containing records of receipts, payments and balance on an account
C. Used for paying into bank account
D. Used for regular withdrawal of money from a savings account

Question 30:

• JAMB 1995

chinyere agree to make a dress for Halima with September 20, 1995 as the delivery date. If the dress was not ready on that date, Halima could

A. Sue Chinyere for damages
B. Sue Chinyere for specific performance
C. Seize another gown from Chinyere's shop
D. Regard the contract between them as terminated